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Steel companies SAIL, Tata Steel, Essar, Bhushan and JSW have hiked prices of their products by up to Rs 2,000 a tonne on the back of a rise in demand in the domestic market.
The Sensex is trading at 17,398 - up 38 points.
As many as six out of every 10 private equity companies have either frozen salaries of employees or are mulling to do so in near future as investments take a hit amid lower returns, says a study.
Over 100 global endowment funds intend to invest in this asset class
Fund-raising to the tune of Rs 8,500 crore underway.
With demand for real estate picking up, General Insurance Corporation of India (GIC) Housing Finance is targetting disbursal of Rs 750 crore housing loans this year, a top official of the institution has said.
The 60s are the new 40s. You can stay fit even after crossing six decades of your life by following a routine of exercise, morning walks and eating healthy. Still, at this juncture of life, the fear of failing health persists. And many a time, such fears come true. To overcome such a situation, the solution is health insurance. Medical insurance enables senior citizens to pay for health checkups, emergency medical costs and long-term treatment. It is provided through several private insurance companies and public sector general insurance companies.
The stock ended flat at Rs 127 with trades of over 50,700 shares on the BSE today.
Greenpeace, the ecology campaigners, have okayed Pepsico, ITC, MTR, Dabur and Haldiram. But given a thumbs-down to Britannia, Cadbury, Hindustan Unilever, Nestle, Kellogg and Safal.
State-owned Coal India Limited (CIL) has set a production growth target of 7.7 per cent during the current financial year, its Chairman Partha S Bhattacharya said.
State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh metric tonnes of non-coking steam (thermal) imported coal. The company has invited bids from coal suppliers for supply of coal on high seas sale basis.
The Centre today asked South Korean steel maker Posco’s Indian arm to apply afresh for permission to set up a 12-million-tonne-per-annum (mtpa) plant in Orissa, held up for four years over land acquisition.
The Sensex is exhibiting lacklustre movement and is now at 17,394, up 34 points.
Retailers may be getting into 2010 with higher monthly sales, but they are not going to ease the cost-cutting measures implemented during the downturn anytime soon.
Three years before Kishore Biyani set up his first Pantaloon store on Kolkata’s high-street, Gariahat, in 1997, Ram Chandra Agarwal had set up a large garment store, Vishal Garments, at Kolkata’s Tiger Cinema, which was converted into a sprawling store.
Trades between FIIs generated a volume of Rs 65 crore on the BSE Thursday-an increase of 82.87% from Rs 35 crore clocked on Wednesday. As many as five stocks witnessed trades of 13 lakh shares on Thursday.
Sical Logistics Ltd has received Letter of Acceptance (LOA) from the New Mangalore Port Trust for setting up an iron ore handling facility at the deep draft multi purpose berth on BOT basis at New Mangalore Port. The Concession Agreement was signed recently between the Board of Trustees of New Mangalore Port Trust and Sical Iron Ore Terminal (Mangalore) Ltd (an SPV arm of Sical).
Logistics and transport major VRL Logistics Ltd (VRL) is looking at exiting its 42.5 Mw wind power venture at Mundargi in Gadag district of Karnataka, because of delayed receivables from the sale of power as well as its high operational costs. The Hubli-based company had forayed into the wind energy business in 2007 by setting up the venture for Rs 250 crore.
The Sensex has mangaed to erase all of its losses and has rebounded into the positive zone. The index is now at 15,646, up 17 points.
With global aviation bodies like International Air Transport Association pressing for reduction of carbon emissions in the sector, some major airlines have carried out test flights using biofuel and alternative fuel, which are cleaner.
Three friends went to college together, became software engineers, went to Silicon Valley, got cushy jobs and, after a few years, decided to become entrepreneurs. Sounds like a run-of-the-mill story? But this is where Tushar Makhija’s story takes a serious turn. It’s common to hear of entrepreneurs struggling to get that one big idea to start a business, but for Makhija and his two other friends, it was simply about taking inspiration from several popular online portals and creating a unique one of their own.
The probe into the Rs 14,000-crore Satyam fraud, clean chit to Italian businessman Ottavio Quattrocchi in the Bofors payoff scam and a number of high- profile cases kept the country"s premier investigating agency busy in 2009.
It’s rather peculiar,” said a friend recently, “that of late, almost every time that I have tried to buy a train ticket, even if it is a month in advance, I have found myself wait-listed…” She was desperately trying to send off Sushil, her trusted right-hand man to Kolkata for some urgent business, and was unable to get tickets on any train going eastwards. “The air tickets cost upwards of Rs 12,000 — I don’t know what to do!” said she. Just then, her courier service provider, who happened to overhear some of this conversation, said, “Why are you getting so hassled madam? Just send him to the railway station and meet this travel agent friend of mine … he’ll get him on today’s Rajdhani to Kolkata!” But how could he do that when the train was full, she asked bemusedly. “It’s the unofficial Tatkal service,” said he.
The government today said auction for 3G mobile spectrum would commence as per schedule from January 14 next year and allotment would be made to four private players simultaneously by August 2010.
Infrastructure player C&C Constructions today said it has cleared the technical qualification round for building several highway projects worth around Rs 20,000 crore in the country.
In contrast to the lull in 2008, road-rollers and wheel loaders returned to action across the country as the government awarded highway projects worth Rs 20,000 crore in 2009 that saw Mumbai get India"s first and longest open sea cable-stayed bridge.
Adani Enterprises today said it has received approval from its shareholders for upsizing the amount to be raised through share sale to qualified institutional buyers (QIBs) to Rs 4,000 crore from Rs 1,500 crore which was planned earlier.
Steel maker Prakash Industries today said its shareholders have approved to raise Rs 500 crore by various fund raising routes from domestic and international markets.
The cost at which home loan major HDFC is borrowing Rs 4,000 crore — 7.15 per cent for two years and 7.85 per cent for three years — is very reasonable. The money will come in handy for the company to subscribe to warrants of HDFC Bank for an estimated amount of Rs 3,600 crore. The qualified institutional buyers (QIBs) who have bought the non-convertible debentures (NCDs) are also entitled to warrants, which can be converted into shares within three years at Rs 3,265 per share.
Mysore head post office became one of the 58 post offices being brought under the ‘Project Arrow Phase III’ of India Post in Karnataka
India’s second mission to Moon ‘Chandrayaan-II’, expected to be launched in 2013, has many challenges for scientists and engineers, mission director M Annadurai said today.
Samir K Brahmachari feels like Bhuvan, the lead character in Aamir Khan-starrer Lagaan.
Holds an order book of 10-12 crore from Gujarat
Zydus Cadila group"s Zydus Infrastructure is planning to create a knowledge park in Ahmedabad in a sprawling 500 hectares area. The park, which is a concept to bring together various academic institutions under one roof, will also see many foreign universities extend their presence.
US markets edged up on Friday as quarterly results were declared by Oracle and Research In Motion. The Nasdaq jumped 32 points (1.5%) to 2,212. The Dow added 21 points to 10,329.
The Planning Commission, as well as farmers in Uttar Pradesh, leading sugarcane-growing state, have opposed a proposal by the food ministry to control gur (jaggery) production.
The Sensex has slipped once again into the red and is now down 70 points at 16,780. The Nifty is down 33 points at 4,971.
The Sensex has ended (provisional) at 16,844 - up 148 points. The Nifty ended (provisional) at 4,997 - up 44 points.
The Indian bourses opened on a negative note tracking weak global cues at 16,855.91.The Sensex however has tried to recover and is now at 16,868, down 20 points.
The Foreign Institutional Investors (FIIs) were net buyers of Rs 347.87 crore in futures and options segments on Monday.
An intermediate reversal could mean net losses over the next 4-6 weeks.
Foreign institutional investors (FIIs) have raised their holding in most large- and mid-cap information technology (IT) stocks.
Refusing to be drawn into the debate over when should stimulus packages be withdrawn, the Planning Commission today said India will not stand out in the world as an overspender despite the rise in the fiscal deficit because of the sops.
The Indian markets opened weak, on the back of negative US and Asian cues. There were feeble attempts at a comeback, with the markets crossing over into the green in the first hour of trade and again around noon, only to retrace immediately thereafter. The afternoon session was volatile, albeit in the red, as the indices unsuccessfully attempted to claw back above the dotted line.
Though the Nifty closed slightly below 5,000 today, the trading volume in the put and call options suggests that bulls will find it difficult to hold on to this level.
Trades between FIIs generated a volume of Rs 63 crore on the BSE Tuesday-an increase of 357.01% from Rs 14 crore clocked on Monday. As many as six stocks witnessed trades of 12 lakh shares on Tuesday.
Anil Ambani’s radio business, Reliance Media World, which operates radio station BIG FM 92.7, will list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Friday, December 4. This makes BIG FM 92.7 the second radio station to be listed on the stock exchanges.
Big Cinemas, a division of Reliance MediaWorks and a member of the Reliance ADA Group, said it has crossed the global milestone of 500 screens with the opening of its newest multiplex in Malaysia.
Internet services provider IOL Netcom today said its board has approved to raise Rs 1,250 crore by various funds raising options.
But general insurance industry sees deterioration
Surging sugar prices today became more bitter for consumers as they rose to an all-time high of Rs 4,150 a quintal at the wholesale market on increased buying for the current festival and marriage season amid widening demand-supply gap.
The stock ended at Rs 84 - up 2.3% from its issue price. the counter witnessed hefty volumes of 12.26 million shares on BSE today.
Exchange to launch mutual fund trading platform; BSE set to follow.
The industry representatives have urged the Orissa government to remove various bottlenecks coming in the way of setting up of industries in the state.
Abheek Barua / New Delhi December 30, 2009, 0:00 IST
Tatas-owned European steel major Corus has appointed Karl-Ulrich Kohler as the new Chief Operating Officer with effect from February 1, 2010.
Denmark-based Novo Nordisk, a world leader in diabetes care, is bullish on setting up robust clinical research functions and also leveraging the India opportunity in related fields such as data management and studying the patent situation of the medicines under development as well as shared services. The global major that is looking at India as a hub for manufacturing insulin for the entire sub-continent, recently inaugurated a dedicated facility with a capacity of 26 million vials per annum in partnership with Torrent Pharmaceuticals Ltd at Kadi near Ahmedabad. Melvin Oscar D"Souza, managing director, Novo Nordisk India Private Ltd, tells Sohini Das about the company"s plans to introduce new products for the India market. Excerpts:
Bandhs and protests over the Centre"s move to create a separate Telangana state continued for the second day today, affecting normal life in coastal Andhra and Rayalseema regions of Andhra Pradesh.
Backed by strong credit demand mainly in the auto segment, private sector lender, HDFC Bank has disbursed Rs 3,000-crore of retail loans in October, its retail banking head said.
Shobhana Subramanian / Mumbai November 6, 2009, 0:43 IST
The Nifty ignored all bullish indicators and closed below 5,000 on profit-booking and weak global cues. The close of 4,953 is marginally above the 61.8 per cent retracement level of 4,940. Hence, if it falls below this, it can retreat to 4,860. Also, the Nifty has gained over 10 per cent since the last week’s low of 4,538 and so more correction is possible in the coming days.
The Nifty convincingly closed above the 61.8 per cent retracement levels of 4,940 on short-covering. The V-shape recovery is expected to continue with the Nifty likely to complete 100 per cent retracement this week of its recent fall from 5,181 to 4,538. Options data suggest the index has strong support at 4,900 and is building fresh support at 5,000.
Add a little colour to your living spaces with fresh orchids ordered from around the world.
B-Trac 2010 Bangalore, a project to address issues of traffic congestion and safety by using latest traffic management technology, will become operational by March 2010, a top police official said.
Bayer Schering Pharma — a group company of German multinational Bayer — has joined the list of multinational drug majors attempting to tap India’s capabilities in drug research.
Drug firm Wockhardt today said it has received the final approval from the US Food and Drug Administration (FDA) for marketing Nicardipine HCI injections in 25mg/10 ml strength, used in the treatment of hypertension.
The world"s largest car maker, Toyota, today unveiled concept small car -- Etios -- which has been specifically developed for the Indian market.
Government’s security concerns about Chinese equipment makers not a deterrent.
The markets have opened with a negative bias.
Sun Pharmaceutical Industries today said it has got tentative approval from the US drug regulator for generic Gleevec (imatinib meyslate tablets), used in the treatment of chronic myeloid leukaemia.
For the second time in last one year, the government is likely to inspect financial books of Uttam Galva Steels for alleged manipulation of share prices, funds diversions and some other related matters.
Sun TV Network will restructure its distribution business and team with the creation of two verticals one focused on managing the South Indian operations and the international business and the second focused on expanding the Sun TV bouquet into the north, west and eastern markets of India.
The seizure of Caraco’s drugs by the FDA could have an adverse impact on Sun Pharmaceutical in the near term.
The gap between operation and inspiration created by the premature exit of Infosys Technologies’ key founder, Nandan Mohan Nilekani, is being filled by his colleagues.
Infosys has not named anybody who would fill Nandan Nilekani"s shoes but expressed confidence that leadership transition would be a smooth affair as was in the past.
The Drug Controller General of India from next month will issue Certificates of Pharmaceutical Products (CoPP) and Certificates of Good Manufacturing Practice for medicinal products required for exports.
Ranibai Rajaram Chhabria, the mother of the late Manohar Rajaram ‘Manu’ Chhabria, has challenged in court the merger of Shaw Wallace with Vijay Mallya’s United Spirits, the Press Trust of India reported a few days ago. She has claimed that her son died intestate seven years ago and under Hindu Law she is entitled to a fifth of his estate, it said.
US markets ended mixed on Tuesday as the Nasdaq edged up on news of a railroad acquisition. The Dow, however, slipped on statements of the US Federal reserve.
India could be among the first markets to see a recovery in the initial public offer (IPO) space, according to a survey by Ernst & Young (E&Y), a global financial advisor. The survey’s findings point out that recovery is expected by the end of 2009 in emerging markets which include China and Brazil.
Private sector Karnataka Bank said its net profit declined by 77.78 per cent to Rs 16.35 crore for the quarter ended September 30, 2009, over the same period last year.
The Congress Legislature Party meeting will be held here today to elect a new leader to set in motion the process to choose the next Maharashtra chief minister amid indications that incumbent Ashok Chavan is the frontrunner.
The Bombay Stock Exchange"s (BSE) newly launched IPO Index, that tracks the value of companies for the first two years after listing on the bourse, rose by 5 per cent during the first week of its introduction.
With gradual improvement in the security scenario in North Cachar Hills district of Assam, following the surrender of "Black Widow" militants, work on the Lumding-Silchar railway gauge conversion project has begun.
Promoters of around 200 large- and mid-cap companies have sold parts of their holdings to raise a combined Rs 50,000 crore in the second quarter of this financial year (July-September), according to the shareholding pattern filed by these companies with stock exchanges.
Infosys BPO, the business process outsourcing subsidiary of Infosys Technologies, has forged an alliance with MortgageFlex Systems to provide offerings to the mortgage industry in the US .
Infosys BPO, the business process outsourcing subsidiary of Infosys Technologies, today announced that it has secured a five-year contract with T-Mobile UK.
India’s largest BPO Genpact has opened a Remote Operations Center in Hyderabad to provide uninterrupted, secured application and infrastructure monitoring and support services to clients worldwide.
If last year was bad for Aditya Birla Minacs, as it was for most companies hit by the global recession, this one is very different.
FMCG group Dabur, manufacturer of mosquito repellent Odomos, has challenged a Delhi High Court order dismissing its plea to restrain the advertisement of its rival brand Good Knight.
CM asks APIIC to form a special purpose vehicle
Steel products maker Adhunik Metaliks today said it will raise over Rs 137.13 crore by issuing around 1.39 crore shares to qualified institutional buyers (QIB).
The country"s top-10 firms added over Rs 39,000 crore to their market capitalisation last week, with Oil and Natural Gas Corporation (ONGC) gaining the most.
The good, the bad, the ugly of downloading music.
Musicians from around the world are here for Jazz Utsav ’09. two of them tell us what to expect at the festival this year
BS Reporter / New Delhi November 22, 2009, 0:37 IST
American researchers claim to have proved that regular practise of meditation twice a day can significantly reduce chances of death in heart patients.
To revive its offshore oil rigs business, state-run BHEL today said it will approach shipyards for providing equipment used for making oil rigs.
India"s leading oil producer Oil & Natural Gas Corporation (ONGC) has hired Citigroup to advise it on a bid for Kosmos Energy"s stake in an oil field in Ghana in a deal that could be worth between $3 billion and $5 billion, sources have said. Private equity-backed Kosmos, which has received a total of $800 million in financing from Blackstone and Warburg Pincus, has hired Standard Chartered and Barclays Plc to sell its stakes in the offshore Jubilee oil field.
Inflation, a number of large issues and high valuations may weigh on indices; Sensex expected to trade at a historical average P/E of 15 on FY11 earnings.
Provided they have all the details, shareholders are best placed to do this.
The Indian economy would grow at least 7 per cent in the current financial year, according to Suresh Tendulkar, former chairman of the Prime Minister"s Economic Advisory Council (PMEAC).
If the Lok Sabha and the Rajya Sabha can have their own dedicated television channels, why shouldn’t the Indian Railways have its own channel? A Railways Advisory Committee, packed with supporters of the Trinamool Congress, has recommended the Railways start its own television channel to both inform as well as educate the travelling public. Watch this space for news of Air India TV!
Indian Railways could soon have its own dedicated television channel, broadcasting passenger related information and highlighting various other facets of the PSU behemoth, if the suggestion of a railway committee is accepted.
The bi-weekly Howrah-Mumbai Duranto Express (2262) began its inaugural run from here today.
US-based General Electric is optimistic about gaining from the revival in India’s nuclear power generation plans after the signing of the India-US civil nuclear cooperation pact last year.
The process may begin with banks where govt holds around 51%
The Rs 1,12,000 crore domestic gems and jewellery industry has urged the government to modify tax deduction at source (TDS) structure suitably in the proposed Direct Tax Code (DTC).
Enquiry into the helicopter crash in which Andhra Pradesh Chief Minister Y S Rajashekhara Reddy was killed will be completed by this month end, Civil Aviation Minister Praful Patel informed the Lok Sabha today.
Mahindra Satyam, the rebranded Satyam Computer Services, on Thursday announced the appointment of Vijayanand Vadrevu as the senior vice president – strategic initiatives.
We are always better analysts with a 20/20 hindsight. Indeed, an ex post reading about events leading up to a crisis appears logical, and often leaves one with the question about why the evolution of the crisis could not be seen and corrected in time. Still, policy-makers know that such a review and understanding are important to learning from mistakes. Restoring Financial Stability (Wiley) acts as a catalyst to that understanding by offering a comprehensive sequencing of the causes and progression of the build-up of the financial strains that, following the Lehman bust in September 2008, evolved into a full-blown global financial crisis. It is a collection of thematic essays by the faculty of the Stern School of Business at New York University.
Global software major Microsoft will slash hundreds of jobs globally as part of its effort to realign business activities.
Procter & Gamble, the maker of Pampers diapers and Pantene shampoo, is in talks to buy part of Sara Lee Corp’s international household products unit, according to people familiar with the discussions.
FMCG major Dabur, which owns the ‘Hajmola’ brand of digestive tablets, is unable to digest another pill by almost the same name — ‘Pachmola’.
The government today said it plans allocate Rs 3 lakh crore for the education sector under the 11th Plan, which would be a four-fold increase from the previous Five-Year Plan.
The Sensex finally ended (provisional) at 16,974, down 76 points. The NSE Nifty ended (provisional) at 5,052, down 10 points.
The Sensex is gyrating between zones and is now flat at 17,066, up 15 points.The Nifty is now at 5,067, up three points.
I would like to invest in gold via Systematic Invest Plan (SIP ). Please name some schemes.
Traders hedged against fall to 4,500.
The UGC is mulling a reward scheme for university and college teachers on the lines of the Performance Related Incentive Scheme (PRIS) being worked out for IIT and IIM faculty to encourage better performance.
IT and business process outsourcing firm Cognizant today reported 21 per cent jump in its third quarter net income at $136.57 million boosted by strong growth across industry sectors.
Playground Sports Pvt Ltd is looking at diluting upto 25 per cent equity in the Internet sports start-up to a strategic investor to fund its expansion plans and launch operations in new areas.
The markets began on a weak note with the BSE Sensex closing at its six-week low on Monday. Later, robust advance tax numbers triggered a rebound in the broader indices. Corporate advance tax payments for the quarter were up 44 per cent to Rs 48,300 crore against a decline in June quarter and a 15 per cent increase in September quarter. The market gained in three out of the four trading sessions in the week. While volumes were low ahead of an extended weekend on account of Christmas. FIIs bought stocks worth Rs 1,360 crore. The Sensex rose 640 points or 3.8 per cent to 17,361, while Nifty gained 190 points or 3.9 per cent to 5,178. However, mid caps and small caps underperformed.
Institute of Chartered Accountants of India (ICAI) has sought broad-ranging information about the association of its member institutions with foreign auditing firms.
Shivani Shinde / Mumbai October 16, 2009, 0:39 IST
Steady economic growth for the last 18 years has, expectedly, led to an unprecedented interest in the Indian consumption opportunity. This interest is global, and almost every significant international company has given India and the Indian market a look in recent times. While India has a long way to go on various per-capita indicators, it has done rather well in hogging the limelight when it comes to the very rich and the ultra-rich.
Vijay Kelkar, chairman of the thirteenth finance commission, has called for a “much stronger” disinvestment process of public sector companies, saying the money raised should be used to take care of environment degradation.
The government today approved a bulk order for power equipment, envisaging an investment of Rs 40,000 crore, for the upcoming thermal power plants of NTPC and Damodar Valley Corporation, a move that will help overcome power shortage in the country.
Delhi Chief Minister Sheila Dikshit today said security during the Commonwealth Games in October 2010 will be a matter of "grave concern" for her administration.
Sanjeev Sanyal / July 15, 2009, 0:41 IST
Investments of Rs 47,000 crore under implementation
In a week marked by high volatility, markets corrected sharply only to bounce back with greater strength. Last week, it was mentioned that the markets might stage a July-like recovery amid high volatility. Although, markets have bounced back sharply, chances of a full recovery look remote currently. Going forward, one needs to watch the 15,530-15,640 zone for the Sensex as crucial for the current upmove to remain intact. As and when it comes below this level, the index is likely to test its long-term support of 14,800.
Decision to allocate 725 hectares comes after a long delay.
Prime Minister Manmohan Singh and his Chinese counterpart Wen Jiabao met here today to discuss bilateral, regional and international issues of mutual concern against the backdrop of the war of words between the two neighbours over Arunachal Pradesh.
Insurgency seems to have affected efforts for tiger conservation in the country as wildlife protection activities for the striped cats have become difficult in the Naxal-hit areas.
State-owned Central Bank of India is planning to restructure its home finance as well as financial and custodial services arms.
Business Standard / Mumbai October 31, 2009, 0:51 IST
IDBI Bank today announced the repayment of its 11.5 per cent SLR bonds, 2009 on September 26, 2009.
Many index funds charge less than equity-diversified funds. Select a fund that has a low tracking error.
Elections to 57 seats in the 60-member Arunachal assembly began early this morning amidst tight security.
The latest calendar from the rural development ministry has a picture of the minister and two ministers of state. The third minister of state was upset enough to call up the minister, CP Joshi, to protest. The minister has now ordered that the calendars not be circulated — a fresh calendar will soon be sent around.
Sri Lanka’s former top general Sarath Fonseka, who quit following a spat with President Mahinda Rajapaksa, today announced that he will be the joint candidate of opposition parties in the Presidential polls slated for January 26 next year.
TDP members today vociferously opposed the creation of Telangana leading to a brief disruption of the Question Hour in the Lok Sabha.
The Thirteenth Finance Commission’s taskforce on the proposed goods and services tax (GST) has recommended a 5 per cent central GST and 7 per cent state GST on all goods and services, except five specific categories.