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The proposed All India strike from tomorrow in different steel plants under Steel Authority of India (SAIL) has been postponed following an assurance by the authorities.
Troubled insurance giant American International Group is in advance stages to list its Asian life insurance unit on the Hong Kong stock exchange next year, in a move to raise up to $20 billion, says a media report.
The Rajiv Gandhi Thermal Power Project (RGTPP) at Khedar in Hisar district of Haryana created history on Tuesday by breaking all previous records of project implementation, when its first 600 Mw unit was synchronised with the grid in a record period of 35 months, by Haryana Chief Minister Bhupinder Singh Hooda.
Industry body Assocham today suggested that the government should confer core industry status to the airlines business to sustain the aviation sector.
Aviva Life Insurance is planning to hire 1,500 sales managers and 13,000 sales agents in the next seven months in order to expand and improve their business prospects, according to Managing Director and CEO T R Ramachandran.
Though the Insurance Regulatory and Development Authority (Irda) is considering open architecture, the insurance industry is divided over the issue.
Tata, SAIL e-commerce joint venture to now take on eBay and Amazon.
State-owned Steel Authority of India (SAIL) today said its Chairman Sushil Kumar Roongta has been appointed a member of the Executive Committee of the World Steel Association, which comprises of CEO"s of top global steel companies.
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.
Infrastructure constraints at the Talcher coalfield under the command area of Mahanadi Coalfields Limited (MCL) have hit evacuation and supplies of coal.
The Sensex is exhibiting lacklustre movement and is now at 17,394, up 34 points.
Finance Minister Pranab Mukherjee on Tuesday submitted a copy of the draft direct taxes code to Prime Minister Manmohan Singh, in the wake of apprehensions in various quarters on a proposal by the draft code to tax the employees’ provident fund (EPF) at the time of withdrawal.
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.
Sical Logistics, has reported a net profit of Rs 3.47 crore for the quarter ended September 30, 2009 as compared to Rs 1.59 crore,a year ago. Company"s total income rose to Rs 127.17 crore from Rs 123.08 crore, an increase of around three per cent.
The Foreign Institutional Investors (FIIs) were net buyers of Rs 139.05 crore in futures and options segments on Thursday.
Voicing concern over the challenge posed by proponents of extremist ideologies through intimidation and terror, Prime Minister Manmohan Singh today said steps need to be taken to tackle this "grave menace".
Indian Institute of Management Kozhikode (IIM-K), the first of the IIMs to conclude summer placements this year, saw a little over Rs 1 lakh as the highest stipend offered.
Railway Minister Mamata Banerjee is not the only minister in the UPA cabinet who prefers a four-bedroom flat to a bungalow in Lutyens’ Delhi. Bijoy Krishna Handique, minister of mines, hasn’t shifted to a bungalow either and is quite happy to stay at his existing flat.
Private equity firm TPG India Investments" open offer for a 20 per cent stake in Shriram City Union Finance would begin on August 27.
The Sensex today opened 55 points lower at 15,574 mirroring weak global vibes. The index slipped to a low of 15,423, down 206 points from the previous close.
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.
Fortis Healthcare today said Wockhardt"s 10 healthcare facilities it has acquired would be rebranded as Fortis Hospitals.
Mysore head post office became one of the 58 post offices being brought under the ‘Project Arrow Phase III’ of India Post in Karnataka
The Indian Space Research Organisation (ISRO) plans to send miniaturised payloads aboard the Chandrayaan-II satellite, in line with the international standards, though the weight of the satellite is expected to be about double that of Chandrayaan-I. The second moon mission by India aims to have fewer scientific instruments than the ones on Chandrayaan-I spacecraft.
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.
Fixed income funds saw the largest net inflows among all fund categories in October.
The Japanese and Indian industry are keen to take the Japanese investment in India beyond automobiles and into sectors like infrastructure, manufacturing, trade and education. The view emerged at a meeting between the Indian industry and a Japanese delegation, led by Prime Minister Yukio Hatoyama. Both the countries found that much more work had to be done for a comprehensive Economic Partnership Agreement (EPA) to fructify.
Pressed by Japan to sign the Comprehensive Test Ban Treaty (CTBT), India today clearly put the onus on the US and China for taking a lead in this direction by ratifying it.
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 markets opened on a flat note today and slipped into red almost immediately. Strong IIP numbers helped the index rebound into the green to touch a high of 16,897. The market, thereafter, turned volatile on the back of global cues, ignoring the earlier gains.
After an initial slide, the Sensex turned volatile on the back of mixed cues from the Asian markets. The index gained strength and touched a high of 16,910 - up 243 points from the day"s low of 16,667.
The stock ended flat at Rs 410 and clocked volumes of 201,186 shares at the counter on the BSE. __________________________________
The Sensex after opening flat has now soared to a high of 16,885 on the back of buying in IT and metal stocks.
The Bombay Stock Exchange (BSE) will introduce a secured settlement platform for the Rs 1,500 crore Indian Corporate Debt Market (ICDM) next week.
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.
The Nifty moved in a narrow range of 5,040-5,090 on Thursday and closed in a Doji pattern, which points to a lack of direction for the market. Domestic markets were closed on Friday on the occasion of Gandhi Jayanti. In the backdrop of the US and European stocks witnessing an over two per cent correction in the last two days, the Nifty is likely to open gap down on Monday.
Concern over surge in capital inflows making dollar stronger led to the fall.
Pollution control equipment maker Thermax today said it has bagged an order worth Rs 477.77 crore from an Orissa-based company for construction of a captive power plant.
The stock market ended on a slightly negative note during the current truncated week as Ramzan holiday fell on Monday. Trading during the week was characterised by alternate days of buying and selling in the absence of a clear direction.
The Sensex has finally ended (provisional) at 16,674 - down 108 points.
The Orissa government has sought Rs 5,000 crore grant from the Thirteenth Finance Commission (TFC) to upgrade its power infrastructure.
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.
The Sensex has soared to a high of 17,270 and is now moving strong at 17,259, up 127 points. The NSE Nifty is at 5,127, up 37 points.
The markets have moved further into the positive in the past one hour, thanks to gains in oil, PSU and metal stocks. The Sensex is quoting at 17,254, up 123 points, and the Nifty has surpassed the 5,100 mark to quote at 5,124, up 33 points.
Tamilnad Mercantile Bank (TMB) is targeting a business of Rs 50,000 crore by 2012-13 for which it would require around Rs 1,000 crore capital.
The Government today made it clear that social security number is not mandatory for getting services from Employees Provident Fund Organisation as the present provident fund membership number will suffice.
Centre today said work on the Loharinag Pala, Pala Maneri and Bhaironghati hydel power projects in Uttarakhand has been suspended due to agitation by some environmental groups.
Telecom Minister A Raja has been served a “gag order” against the backdrop of the 2G spectrum controversy. According to top sources in the UPA government, Finance Minister Pranab Mukherjee recently summoned Raja and told him not to speak to the press about the 3G auction. He has also been strongly advised to ensure that intra-ministerial communications and letters don’t reach the press through his office. Recently, Raja’s letter to Mukherjee, seeking his intervention for getting the defence ministry to vacate 3G spectrum, was leaked to the press. Mukherjee was extremely upset at this.
Issues ranging from the CBI probe to 3G auction may figure in a series of meetings Telecom Minister A Raja will hold with the chief executives of companies begining tomorrow.
Finance Minister Pranab Mukherjee is known to stick to the subject at hand and not get into long discussions. So, when CPI leader Gurudas Dasgupta raised a calling attention motion on the merger of banks and started making several ideological points, this made Mukherjee testy.
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:
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.
The proposal to divest government"s stake in SAIL and NMDC is final and would be sent to the Union Cabinet next month for approval, Union Steel minister Vir Bhadra Singh said today.
The disinvestment department today said it is in talks with administrative ministries of 60 Central Public Sector Undertakings (CPSUs), including SAIL, BSNL, Coal India, for selling government stake.
The West Bengal government today said it was in touch with the Tatas for return of the lease land at its abandoned Nano project site in Singur.
The Great Eastern Energy Corporation (GEECL) is likely to be one of the bidders for the fourth round of Coal Bed Methane (CBM) block auction.
Commercial vehicle makers including Tata Motors, Volvo and Ashok Leyland have hiked or are considering raising prices of trucks by up to four per cent this month to offset rising input costs, even as the segment saw return of demand.
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.
Sun Pharma ended at its intra-day high of Rs 1542, stronger by Rs 38 or 2.5% on the BSE.
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.
This last year, two friends of mine lost their fathers to Indian healthcare.
India’s second-largest information technology services provider, Infosys Technologies, has applied for a mere 405 visas till date for financial year 2009-10 — its lowest application count in recent years.
Swiss drug maker Novartis today said its newly developed vaccine "Celtura" against Influenza A HINI (Swine Flu) has shown effective result during a pilot test conducted by it.
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 remainder of its liabilities is on ‘a stable financial footing’
US Federal Reserve"s decision to keep rates near zero dragged the markets off the day"s high. The Dow added 30 points to 9,802. The Nasdaq was unchanged at 2,056.
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.
Hyderabad-based animation, gaming and entertainment company DQ Entertainment (International) Limited has filed the draft red herring prospectus with the Securities and Exchange Board of India to enter the capital markets with an IPO of 19.8 million equity shares of Rs 10 each.
Improving demand from the US financial sector helps shore up numbers.
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 .
Wants to expand within the country and outside, while Star Aviation, yet to begin operations, has three aircraft ready
Andhra Pradesh Industrial Infrastructure Corporation (APIIC) would develop a biotech special economic zone (SEZ) at the Industrial Growth Centre in Hindupar in Anantapur district of the state. The SEZ would come up in 70 acre and would be developed by Benguluru-based Salarpuria.
The Reserve Bank of India (RBI) committee on reviewing the benchmark prime lending rate (BPLR) has recommended that the nomenclature be scrapped and a new benchmark rate — known as base rate — should replace it.
Confusion seems to shroud the groundnut industry as production estimates by two of the leading associations in Gujarat show a huge difference of about four lakh tonnes for 2009-10.
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 original drummer of the iconic ‘60s band, Pete Best performed in Delhi and spoke about his past, present and the future.
BS Reporter / New Delhi November 22, 2009, 0:37 IST
Volkswagen AG’s supervisory board signed off on contracts for its takeover of Porsche SE in stages, clearing the way for Europe’s largest automaker to add the 911 sports car to its model line up.
Intense debate on non-vegetarianism continues with flexitarianism emerging as the new diet fad.
Reliance Industries has threatened to stop oil and gas exploration if it is not granted the promised drilling moratorium to cover for the acute shortage of rigs.
Reliance Industries (RIL) has threatened to stop oil and gas exploration if it is not granted the promised drilling moratorium to cover for the acute shortage of rigs.
The Prime Minister"s Office (PMO) is believed to have asked for urgent comments from the Petroleum Ministry, which has been accused by industrialist Anil Ambani of siding with Mukesh-led Reliance Industries (RIL) in an ongoing gas dispute.
The government has not let Reliance Industries off the hook for signing a private MoU with a firm run by the Anil Ambani Group to divide entire gas volumes from KG basin fields, thus holding industrial development to ransom, the petroleum ministry said today.
The Sensex has extended gains and touched a high of 17,554 - up 90 points. The Nifty is up 30 points at 5,231.
The Sensex has added 71 points to 17,536.
The Indian Railways has posted over 6 per cent increase in earnings during the first half of the current financial year and registered a growth of over four per cent in passenger bookings.
Enough has been written about last year’s collapse of insurance giant AIG after it had to make good all the insurance it sold against corporate bond defaults and the fact that the US government bailout happened to help Goldman Sachs, the firm that US Treasury Secretary Hank Paulson once ran. Much less, however, is known about the company’s origins (it was the first reverse MNC, with its headquarters in China), of how it had such tremendous clout it could even threaten governments with US sanctions, or of how in the second World War it allowed US intelligence agency officials to masquerade as journalists of one of the newspapers it owned and collect information against the Japanese.
Former Maharashtra Deputy Chief Minister Gopinath Munde was today made Deputy Leader of the BJP in Lok Sabha in place of Sushma Swaraj who has been elevated as Leader of the Opposition.
Textile manufacturer Mafatlal Industries today said Bombay High Court has dismissed a writ petition filed by an non-government organisation (NGO) against the de-reservation of its mill land by the government.
Lakshman Menon / December 02, 2009, 0:13 IST
Apparel maker Arvind Brands is planning to expand its offerings by introducing more international brands this year, besides ramping up its retail presence across the country.
Subir Roy / New Delhi January 6, 2010, 0:11 IST
The Indian Army is planning to acquire 300 light tanks for deployment in the mountainous regions of the border with China and Pakistan, a move seen as part of efforts to beef up capabilities on the frontiers.
K Rajani Kanth / September 18, 2009, 0:18 IST
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.
Sunil Jain / New Delhi November 16, 2009, 0:07 IST
Homegrown FMCG major Dabur India is keen on penetrating deeper into the hinterland of Uttar Pradesh to market its products.
Taking a serious note of Union Bank of India (UBI) not reporting high-value transactions to it, the government has asked the state-owned bank to immediately carry out an audit of all its branches to check for such large deposits that have gone unreported.
The Airports Authority of India is seeking financial assistance from the government for its loss-making operations in the North Eastern region.
Godrej Consumer Products Ltd, India’s second-biggest soap maker, may acquire some of Sara Lee Corp’s international businesses, including the US company’s stake in its Indian joint venture.
Twenty-five years after it brought Maggi instant noodles to India, Nestle has extended the brand to ready-to-eat pasta. It has come out with Maggi Nutri-licious (nutritious and delicious) Pazzta. There are two flavours: Masala Penne and Cheese Macaroni. The first has been priced at Rs 12 and the other at Rs 15.
Consequent to the sharp run up in markets in 2009, investors will have to be careful in picking stocks while lowering their return expectations
I would like to invest in gold via Systematic Invest Plan (SIP ). Please name some schemes.
The director of Indian Institute of Management, Ahmedabad (IIM-A) is constantly in touch with his counterparts in other IIMs to solve problems regarding the first computer-based CAT (Common Admission Test), institute officials said here today.
The first administration of Common Admission Test (CAT), being conducted online for the first time for admission to IIMS today, has been successful, Director IIM-B Pankaj Chandra said.
Traders hedged against fall to 4,500.
With the report of the special audit into the accounts of Reliance Communication (RCom) stating that the company had misclassified its income to avoid paying licence fees and overstated its mobile phone income (by around a fourth) in other ways, you’d think the Ministry of Corporate Affairs would be interested in examining the report and taking appropriate action.
Defending the Bus Rapid Transit (BRT) system, government today said it will be implemented in nine more cities.
The government today admitted that there was "rampant" killing of tigers in the country and said the big cats have became locally extinct in Sariska and Panna Reserves mainly due to poaching.
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.
The serene Thai beach resort here is expected to provide an ideal setting for tomorrow"s meeting between Prime Minister Manmohan Singh and his Chinese counterpart Wen Jiabao to lower temperatures built over recent weeks on border and other issues.
Stocks fell from Tokyo to Paris and the dollar rose as the fastest economic growth in a year in China stoked speculation that government stimulus measures will be removed, while European earnings disappointed investors.
At least a dozen Britons have offered to sell their kidneys for 25,000 pounds or more each to beat credit crunch and pay off their debts, a media report said today. Their advertisements offering kidney have appeared on the internet and five of them corresponded with undercover journalists, who posed as friends and relatives of sick patients to negotiate sales, The Sunday Times claimed.
This week’s trade mini-Ministerial in Delhi is mainly about the US, observes Suman Bery
Markets have extended gains. The Sensex has touched a high of 17,531 and is now up 181 points at 17,524.
Bank of Baroda (BoB) has launched an initiatives to facilitate two-way flow of investments between India and the UAE, a senior bank offical has said.
Abhineet Kumar / Mumbai December 24, 2009, 0:03 IST
Franklin Templeton Investments plans to hire two India stock analysts to increase its coverage of a market that has outperformed its developing nation peers this year.
Hang Seng is quoting at 21,624, stronger by 325 points or 1.5% and Nikkei is placed at 10,085, higher by 68 points or 0.6%. Straits Times is at 2,685, up 4 points or 0.1%.
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.
High-value post-paid subscribers are more likely to use number portability in India where the market is dominated by pre-paid subscribers who look for the cheapest service.
National Bank for Agriculture and Rural Development (Nabard) has sanctioned a loan of Rs 102 crore to Uttar Pradesh under the Rural Infrastructure Development Fund (RIDF).
The Left and the BJP today tried to corner the government on the issue of spiralling prices and lent support to trade unions which have gathered here to protest against economic policies including disinvestment.
State Bank of Mysore (SBM) will restructure agriculture loans to the tune of Rs 1,200 crore in the flood affected districts of North Karnataka. The bank is predominant in four of the 14 districts affected by the floods.
The stock finally ended at Rs 135 after touching a high of Rs 136. The counter clocked volumes of 1.10 million shares on the BSE as compared to the the two-week daily average traded volumes of 1.17 million shares on the BSE.
Exclusive talks between Essar Oil and Royal Dutch Shell over the sale of three European refineries — Heide and Harburg in Germany and Stanlow in Britain — will continue for an unspecified period beyond today’s earlier deadline, Essar Oil said in an emailed statement.