Public Relations
BS Reporter / Mumbai November 16, 2009, 15:31 IST
Hinduja group firm, Ashok Leyland today said it will roll out 25 products in the next eighteen months from its newly launched truck platform and will shift all existing products to it by 2013.
Going by the performance so far, Maruti seems to be on track to achieve sales of 1 million vehicles in 2009-10.
Tension gripped the Telangana region of Andhra Pradesh on Saturday, with the joint action committee ( JAC) of people’s representatives of Telangana planning to observe an indefinite bandh from Tuesday, if the Centre did not announce in the next two days a timeframe for the formation of the Telangana state .
President Pratibha Patil had a narrow escape today when the blades of an Indian Air Force helicopter in which she was travelling hit the cement wall of an abandoned building inside the Bhubaneswar airport while landing. The President was returning from Puri after having a darshan of Lord Jagannath and inaugurating an urban haat there.
Manpower resources planning and appointment of a consultant to suggest turnaround ways are likely to top the agenda at the two-day board meeting of Air India starting tomorrow, officials said.
A crucial meeting of the Air India (AI) board tomorrow is likely to take decisions on several cost-cutting measures such as a proposal to scrap the productivity-linked incentives (PLI) to its management cadre, and adopt the financial accounts for 2008-09.
National carrier Air India today said it aimed to save Rs 800-900 crore from its fuel efficiency programme, started in 2008.
A section of Air India employees owing allegiance to ACEU has threatened to strike work from December 22 to protest the management"s proposed move to withdraw some facilities now available to them from January 1.
In Jharkhand politics, it’s sometimes all in the family. Take for example, Jharkhand Mukti Morcha (JMM) chief Shibu Soren, who is a Lok Sabha member. His daughter-in-law Sita Soren, widow of Durga Soren, won the elections from the Jama Assembly seat. Soren’s younger son, Hemant, contested the Assembly polls from the Dumka seat and humbled former deputy chief minister Stephen Marandi. Sushila Hansda of the JMM, who was a sitting party legislator in the last Assembly, was not in the fray from her Litipara constituency this time, but her husband, Simon Marandi, contested on JMM ticket and won the seat.
Amid the campaign by some legal activists for impeachment of Karnataka Chief Justice P D Dinakaran, the government today said it was not aware of any such move.
Concerns over climate change are only second to profit amid the slowdown, but in India it is rising and over 54 per cent continue to be "very concerned" about global warming, a survey says.
Business Standard / New Delhi December 04, 2009, 0:25 IST
Global information and media house Nielsen today said it has appointed Shubhranshu Das as the Regional Head for its Global Financial Services Practice group in South Asia.
*Name the person and the name he gave to the theoretical proto-hypertext computer system he proposed in 1945. This has been referred to as the vision behind search engines.
Central government-owned ports such as Kandla and Visakhapatnam might be the top two in the pecking order in terms of bulk cargo that they handle. But they might soon be overtaken by the new private upstarts, which have set up ports in Mundra and Pipavav (in Gujarat) and Gangavaram (Andhra Pradesh) and are growing at a rapid pace.
A cargo vessel carrying soda ash consignment from Veraval Port to Calicut capsized after travelling 60 nautical miles into the Arabian sea between Jafrabad and Diu here today, Gujarat Maritime Board (GMB) officials said.
Following fare reduction by Jet Airways, national flag carrier Air India has cut fares by 20-46 per cent on certain flights on select domestic routes for travel up to September 18.
Hyderabad-headquartered infrastructure developer, GVK Power and Infrastructure (GVKPIL), today acquired the entire stake of 17 per cent held by L&T Infrastructure Development Projects in Bengaluru International Airport (BIAL) for a total consideration of Rs 686 crore.
Flughafen Zurich AG, operator of Zurich airport in Switzerland, which has a 17 per cent stake in Bangalore International Airport Ltd (BIAL), will reduce this to five per cent, to fund its further growth in India. The divestment process is expected to take four months.
Bangalore International Airport Limited (BIAL) has extended its end-to-end managed services contract with Nortel for three years. Nortel will manage BIAL’s entire IT infrastructure, which includes data and wireless network systems and will oversee network security. This network will be managed remotely through Nortel’s Network Operations Center (NOC) in India, which will continue to ensure the high level of reliability and dependability the airport requires.
Gujarat Urja Vikas Nigam Limited (GUVNL) is aiming to enter into a long-term power purchase agreement (PPA) with Gujarat State Petroleum Corporation (GSPC) for its upcoming power units.
Domestic brokerage firm India Infoline today said its consolidated net profit rose by 44.27 per cent to Rs 58 crore for the second quarter ended September 30, over the same period last year.
Chandan Kishore Kant / Mumbai August 07, 2009, 0:05 IST
Capital infusion should help DTH market leader Dish TV to consolidate its position in a highly competitive segment.
Yaga Venugopal Reddy / October 27, 2009, 0:48 IST
India Infoline Investment Services today said that its Board of Directors has approved the appointment of M N Singh and A K Purwar as independent Directors on the Board of the company.
Emerging-market equity funds inflows tripled last week as the outlook improved for developing-nation exporters, EPFR Global said.
To meet concerns that hybrid debt failed to absorb losses.
Poor economy should not be an excuse for laying off people especially in recession when it becomes inevitable for the corporate world, Infosys mentor N R Narayana Murthy said here today.
India needs to find a balance between remaining competitive and being financially secure and stable in a troubled economic climate, Infosys" Chief Mentor, N R Narayana Murthy said here today.
A week after the National Stock Exchange (NSE) launched interest rate futures (IRF) on August 31, the domestic mutual fund industry is all set to make the most of this new instrument. The industry is planning to either come up with new schemes, or use IRF in their existing schemes.
The rupee is expected to appreciate in the near future, a leading mutual fund industry official said.
The Forward Markets Commission (FMC), the commodity futures markets regulator, has warned exchange members not to accept trade request from clients whose account witnessed no trade since the past six months.
Traders and brokers seem cautious about taking membership in Indian Commodity Exchange (ICEX), the fourth commodity futures exchange, promoted by Indiabulls Financial Services and public sector MMTC.
The Tata group, which is setting up a Sikorsky S-92 helicopter cabin manufacturing plant at the Aerospace and Precision Engineering Special Economic Zone at Adibatla near here, has formed a joint venture with Israel Aerospace Industries (IAI) for setting up defence aerospace manufacturing facilities in the same SEZ.
Sensex has ended (provisional) at 17,478 - up 134 points.
The Centre today sought to downplay the growing momentum for carving out of small states in some regions after the decision on Telangana and said cooperation of (undivided) states and political parties is needed in addressing such demands.
Titan Industries, a Bangalore-based watch and jewellery arm of Tata Group, today reported 41 per cent jump in its net profit at Rs 46.04 crore for the quarter ended June 30, 2009 compared to the corresponding quarter last fiscal.
The government has ordered the SFIO to probe into mismanagement and financial irregularities in Vedanta Group-owned Sesa Goa and its subsidiary Sesa Industries (SIL), the company said today.
Vedanta Group firm Sesa Goa today said it has received a letter from the Government of India on Thursday, ordering an investigation into the company.
The shortage of information and communications technology (ICT) skills in developed countries could become a serious issue once the worldwide economic crisis starts easing. This will be exacerbated by the falling number of masters and PhD holders in science and engineering, restrictions on cross-border movement of IT professionals and the US H-1B visa programme. However, this vicious circle could be mitigated by the Indian service firms increasingly recruiting internationally, according to a new OECD report on employment trends in the ICT sector.
Ashim Purkayastha’s latest works focus on the violent history of the North-east.
The fiscal deficit rose by 73 per cent to Rs 3.06 lakh crore in the first eight months of the financial year against Rs 1.77 lakh crore a year ago, as the government cut taxes and stepped up expenditure to stimulate the economy hit by the global financial crisis.
A day after the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) decided to postpone the extended trading time to January 4, brokers said they were appalled by the one-upmanship and lack of coordination between the exchange authorities.
A significant change is happening in the country’s Industrial Training Institutes (ITIs). Two years after the government proposed upgrading 1,397 ITIs into Centres of Excellence in specific trades and skills under private-public partnership, Corporate India is warming to the idea.
With the objective to create awareness regarding banking services among people in remote villages of North-East, Reserve Bank of India (RBI) has undertaken a series of financial outreach programmes in the region.
The qualifying bids for three Ultra Mega Power Projects (UMPPs) in Orissa, Chhattisgarh and Tamil Nadu would be invited by the end of the current fiscal, a senior government official said today.
Kraft Foods Inc, the world’s second-largest food maker, may increase its 9.8 billion-pound ($16 billion) bid for confectioner Cadbury Plc by Monday’s deadline to keep its takeover attempt alive.
Matthew Lynn / October 7, 2009, 0:33 IST
Strong portfolio capital flows into stock markets and direct investments will continue to push the rupee up against the dollar in 2010.
About 1000 Substantial Affected Persons (SAP) in the mining and refinery complex of National Alumina Company Limited (Nalco) at Damanjodi in Koraput district have demanded rehabilitation benefits at par with the SAPs of the company in its Angul smelter and power complex.
Mobile telephone subscribers would have to wait a little longer to change their service provider without changing their numbers. The introduction of mobile number portability (MNP) across the country would be delayed by about two to three months, as some of the operators are not ready, said a senior official of the Telecom Regulatory Authority of India (Trai).
Setting the agenda for the new UPA government, the Planning Commission has zeroed in on four business models to promote higher education through Public- Private Partnership (PPP) mode.
Proof of firmly growing buoyancy in demand, says industry.
The Frankfurt Motor Show kicks off on Monday. Here’s a preview of the important cars.
We sail within a vast sphere, ever drifting in uncertainty, driven from end to end,” is what the G20 leaders conveyed to their trade negotiators at the Pittsburgh summit last Friday. Like the previous two summits in Washington and London respectively, the latest event under the leadership of President Barak Obama failed to provide any clear direction on how to end the comatose Doha Development Agenda trade negotiations.
Trade talks resumed in World Trade Organization (WTO) headquarters at Geneva today, 10 days after 30 ministers broke the impasse on Doha negotiations, aimed at reaching a global pact for opening $32 trillion international commerce.
Competes with Mercedes, BMW, Porsche, Audi and Accura
R L Narayanan, vice president - Equity & Institutional Sales, Bonanza speaks on market trends and sectoral view.
Prior to the derivatives expiry this Thursday, markets have shown weakness, ignoring strong cues from the US markets.
Low cost of funds and low credit growth have meant unprecedented levels of capital adequacy ratios (CARs) for banks.
Rajiv Shirali / New Delhi November 8, 2009, 0:17 IST
Toyota Motor said today that global sales of its hybrid vehicles had topped the two-million mark since their launch in 1997, led by the Prius — Japan"s top-selling car for the past four months.
Jarnail Singh, a Sikh journalist who acquired a celebrity status after the shoe-throwing incident at a press conference addressed by Home Minister P Chidambaram on April 7, 2009, has exercised unusual caution while narrating the incident that made him a hero for large sections of the Sikh community. It is ironic because the “heroism” for which he was hailed by many Sikh bodies, including the Sikh Gurdwara Prabandhak Committee, was clearly missing when it came to narrating the events that led to the infamous shoe-throwing incident.
Construction firm Sobha Developers today said it has raised Rs 526.89 crore through qualified institutional placement (QIP) by allotting over 2.51 crore equity shares of Rs 10 each.
Textile major S Kumars Nationwide (SKNL) plans to raise Rs 1,000 crore through issue of shares on qualified institutional placement (QIP) basis to fund its expansion plans.
Vanita Kohli-Khandekar / New Delhi November 24, 2009, 0:18 IST
Standing Conference Of Public Enterprises (SCOPE), the apex industry chamber for state-run firms, has advised members against flooding the market with their IPO offerings -- expected in the face of the government planning to list all profit-making public sector enterprises.
Kolkata-based Emami, the Rs 2,200-crore fast moving consumer goods major, is on the lookout for local homeopathy companies, even sick units will do. Emami had acquired Kolkata-based M Bhattacharyya & Co, one of the country’s earliest homeopathy companies, three years ago.
Like many, Britain’s queen will also not get a pay hike, at least till elections next year. According to the Daily Express, British Prime Minister Gordon Brown has told the queen, she will have to wait until after the general elections to discuss her bid for a rise in her £7.9 million a year Civil List payment. Brown has decided not to fix a new 10-year deal covering the queen’s costs, fearing that the plea for a huge pay rise over the next 10 years could become an election issue, the report said.
A senior official of Tata Steel on Wednesday indicated that the steel major might provide a rehabilitation package for the 1,700 workers slated to lose their jobs due to the partial mothballing of its subsidiary, Corus’ Teesside plant in Britain.
Now you can buy an annuity cover on reverse mortgage loans.
The Supreme Court has quashed criminal proceedings initiated against a Coca Cola company official in a case allegedly involving spurious Limca.
Over 10 per cent rise of rupee against the US dollar has become a "big worry" for exporters at a time when they saw arrest in sharp decline in the country"s exports amid a hope of recovery.
Asian economies must handle their monetary and currency policies carefully to avoid unleashing a wave of potentially destabilising inflation, World Bank President Robert Zoellick said today. The US and European economies, which are barely starting to recover from the global meltdown, are less at risk, but in Asia, the massive liquidity flowing into regional markets could push asset prices up dangerously high, Zoellick said.
Food expert Anuradha Ravindranath dishes up innovative rice recipes.
Investments worth Rs 700,000 crore will get commissioned in 2010-11, 55 per cent more than those in the current year.
Dubai has set up of a tribunal to settle all financial disputes between Dubai World, which is seeking to restructure around $26 billion of debt and its creditors.
G20 finance ministers meet here tomorrow to chart the next steps out of the global economic crisis, with calls to curb bankers" bonuses as part of beefed-up financial market rules topping the agenda.
Chinese banks: Economic crisis or not, China’s lenders are in good shape. The country’s big listed banks – Industrial Commercial Bank of China (ICBC), Bank of China and China Construction Bank (CCB), all unveiled mid-year balance sheets enviously light on bad debts. Thank China’s rapid growth – and an astonishing $300 billion vanishing act.
The government employees in Maharashtra today called off their proposed strike which was sheduled to begin tomorrow, saying the state government has accepted "most of their demands" including payment of HRA as per Sixth Pay panel recommendations from this month.
Sun Pharmaceutical has managed to gain more support in its battle to acquire Israel-based Taro Pharmaceuticals.
Vandana / Mumbai December 2, 2009, 1:24 IST
Insurance Australia Group (IAG) will pay Rs 542 crore for a 26 per cent stake in its general insurance venture, SBI General Insurance Co.
The Reserve Bank of India has adopted a business correspondence model, acting as an agent of a commercial bank, to provide banking services to the people of remote areas where there is no banking outlet.
Consortium unable to strike anything despite much drilling.
A consortium of Oilex of Australia, Videocon Industries, Gas Authority of India (GAIL), Bharat Petro Resources (BPRL) and Hindustan Petroleum (HPCL) are re-evaluating their commitment to exploration block no 56 in Oman, which it won in 2006 from the Sultanate of Oman for around Rs 220 crore.
German financial services major Deutsche Bank today reported a 67 per cent jump in net income to euro 1.1 billion (Rs 7,566 crore) for the second quarter of 2009, bolstered by a good performance in its corporate and investment banking operation.
Public sector Bank of Baroda is eyeing a total turnover of Rs 4.25 lakh crore in the current fiscal, bank"s Chairman and Managing Director M D Mallya said here today.
The Supreme Court today issued notices to Reliance Gas Transportation and Infrastructure Ltd, and the Ministry of Petroleum and Natural Gas on the appeals moved by more than 50 land owners of Surat, alleging that the Mukesh Ambani-led company had not paid them adequate compensation for acquisition. Their land will be used for laying pipelines to transport gas from the Krishna-Godavari basin to Gujarat.
Public sector Corporation Bank has posted 52.29 per cent increased in its net profit to Rs 291.67 crore for the second quarter ended September 30, 2009 as compared with the corresponding quarter in the previous fiscal.
Finance Minister Pranab Mukherjee today said the RBI"s move to keep almost all rates unchanged is line with the discussions he had with the apex bank"s governor and the government"s thinking on fiscal and monetary policies.
Anil Ambani promoted Reliance Power, which is setting up close to 34,000 mega watt(Mw) of power generation capacity, has posted a net profit of Rs 194.5 crore for the quarter ended September 30, 5.2 times higher than the Rs 37.2 crore net profit for the corresponding quarter, last year.
The Cotton Corporation of India (CCI) has so far borrowed about Rs 8,000 crore from banks this season to carry out procurement operations on behalf of the government, half of which is yet to be repaid.
Buoyed by the improvement in demand for its products, stainless steel maker JSL today reported an over three-fold jump in its net profit at Rs 94.76 crore for the first quarter ended June 30, over the same period a year ago.
Congress likely to continue consultations with various interest groups and political parties.
As sugar prices continue to soar, a defensive Congress party — the leader in the United Progressive Alliance (UPA) government — today stepped in and urged the central government to check the prices of the commodity for the sake of the common man.
Wind power major Suzlon Energy today said financial services major Indiabulls Financial Services has reduced stake in the company to 0.6 per cent, by way of releasing pledged shares.
Wind Turbine maker Suzlon Energy repaid $780 million (around Rs 3,700 crore) acquisition loan. This has also made the company achieve a net reduction in overall debt by $350 million (around Rs 1,700 crore).
The government has relaxed the visa conditions that require a foreigner to take a two-month break before re-entering the country, Home Minister P Chidambaram said here today.
Business Standard / New Delhi November 09, 2009, 0:53 IST
The Abu Dhabi Investment Authority is trying to abort an agreement to buy $7.5 billion of Citigroup Inc stock at eight times Wednesday’s price, saying the bank misled it about the investment.
Vikram Pandit, the India-born chief executive of Citigroup, will continue to take the salary of $1 a year, although the financial services firm has raised base salaries for two of its senior officials.
China is getting all worked up about the wrong thing when it comes to the US. Forget these nascent trade wars over tires, cars and chickens. China’s real problem is how quickly the dollars they hold in great quantity are getting all the respect of pesos these days. Sounds like hyperbole? Not when you consider what may be the hottest investment of 2010: the dollar-carry trade.
Citigroup Inc posted a $4.28 billion profit, less than analysts estimated, as surging loan losses cut into a gain from selling control of the Smith Barney brokerage unit.
Global business leaders are hoping for relaxed immigration regulations to help bring in more skilled foreign workers, who want to capitalise on the opportunities provided by a rebounding economy, says a survey.
Purchase of Affiliated Computer Services to help Xerox triple sales from services
JPMorgan Chase & Co, the biggest US credit card lender, is taking aim at the market for affluent card holders dominated by American Express Co.
While many of his fans, particularly in the US, appear disappointed, I, for one, believe that Mr Obama has had an extraordinarily successful first year as president.
Jamal Mecklai / New Delhi October 16, 2009, 0:14 IST
The yield on government bonds may stay elevated next week on apprehension that Reserve Bank of India (RBI) may hike cash reserve ratio as a signal to manage inflationary expectations.
As investors get ready for Christmas celebrations, domestic bourses will not have much to cheer about and is likely to see subdued trading this week, feel analysts.
The foreign institutional investors (FIIs) were net buyers of Rs 1,770.73 crore in futures and options segments on Wednesday.
The markets have extended their early morning gains on the back of strength in energy, power and IT stocks. The Sensex is quoting at 16,958, up 266 points, and the Nifty has regained the 5k mark at 5067, up 81 points.
Media house DB Corp, which publishes Hindi daily Dainik Bhaskar, will list its equity shares on the bourses on January 6.
Media house DB Corp, the publisher of Hindi newspaper "Dainik Bhaskar", today said it has fixed the issue price of its initial public offer at Rs 212 per share, garnering Rs 384.22 crore through the offer.
StanChart Global CEO says the bank is waiting for the right market conditions.
Companies like Goldman Sachs, HSBC, Nomura, Standard Chartered, JPMorgan and RBS flock the campuses Banking and finance companies, whose dismal performance in late 2008 caused panic among students and faculty members of the premier Indian Institutes of Management, are making up this year with better profiles and stipends.
Business Standard / New Delhi October 28, 2009, 0:09 IST
The Sensex has recaptured 17k mark on the back of strength in IT, energy and power stocks. The benchmark is now quoting at 17,002, up 310 points, and the Nifty is well above the 5k mark at 5,079, up 93 points.
Advance tax collection shored up in the second quarter of the financial year indicating expectations of profit for the September quarter.
Godrej Industries, leading chemicals manufacturer and exporter of chemicals products, has entered into a memorandum of understanding (MoU) with Godrej & Boyce Mfg Co and Godrej Properties for development of the property at Vikhroli.
Following reports that the cigarettes-to-hospitality major, ITC, could make a hostile bid to increase its stake in EIH, which runs the Oberoi hotel chain, ITC Chairman Y C Deveshwar today asserted that his company could even raise its stake up to 25 per cent in EIH.
Dish TV’s new campaign presents Shahrukh in a new avatar to take on Tata Sky’s Aamir
Superstar Aamir Khan is all set to team up with Oscar-winning actress Kate Winslet in an international film based on Saadat Hasan Manto"s famous partition story "Toba Tek Singh", Femalefirst reported.
As companies step into the new year, they realise that they may have to live with lower growth and costlier money as 2010 could be more challenging than 2009.
Realty firm Godrej Properties may look at launching affordable housing projects in the price range of Rs 5-15 lakh per unit by the next financial year.
Business Standard / New Delhi December 29, 2009, 0:14 IST
Anoothi Vishal / New Delhi July 25, 2009, 0:52 IST
There are several ugly faces of fashion: anorexic models who survive on cigarettes and coffee is just one such instance. But, by far the ugliest thing that has happened to Indian fashion is the ongoing fight between the various “bodies”. Two bodies — FFI and the government mandated FDPC — have triumphantly announced that they have now merged and will work for the betterment of fashion. FDCI, the original fashion apex body, continues to stay aloof of this merger and may or may not also merge with FDPC.
Average participation in the last 12 offers was just 2.39 times
Govindraj Ethiraj / Mumbai September 15, 2009, 0:03 IST
Disinvestment ball starts rolling: 15 companies shortlisted.
The average size of IPOs rose by nearly half in 2008 over 2007, though the financial meltdown may have scared away many from the primary capital market, bringing down the number of IPOs to about one-third, the Economic Survey said today.
The Enforcement Directorate (ED) today claimed to have found evidence of ‘large-scale’ violations of Foreign Direct Investment (FDI) guidelines by real-estate major Emaar MGF in purchase of land. During its searches carried out at 13 premises of the group on Thursday, the ED also claimed to have recovered about Rs 9 crore in cash, two kg of gold and foreign currency worth Rs 5 lakh. Stating that Emaar MGF had availed more than Rs 6,000 crore of FDI in the last four years, the ED said in a press statement that the seized documents indicated “large-scale violations of FDI guidelines.”
If Emirates airline is caught in the Dubai debt crisis, it may force the carrier to moderate its expansion, which could hurt aircraft manufacturers like Boeing and Airbus, as it has placed orders worth $55 billion with them.
Passengers flying in and out of the Mumbai airport are likely to face a tough time on every Tuesday for the next five months as the intersection point of the two runways would remain closed for a few hours that day.
Titan Industries, which sells jewellery and watch among others, has set a goal of crossing the $1 billion-mark turnover in the current fiscal.
Comprehensive civil nuclear pact to be signed during PM’s visit.
State-run Rural Electrification Corporation (REC) today said it has received approval from the Power Ministry approval for its proposed follow-on public offer (FPO).
Mahindra Satyam (the erstwhile Satyam Computer Services) has agreed to pay $70 million (Rs 325 crore) as settlement to UK-based Upaid, which had claimed damages of $1 billion for alleged forgery, fraud and breach of contract.
The stock market could see 17-18 such issues next year
With uncertainty prevailing over the supply of jute bags due to the indefinite strike of the jute mills in West Bengal, the Centre plans to allow Food Corporation of India (FCI) and the other government procurement agencies to place orders for polymer bags for packaging of food grains.
Ratnagiri Gas and Power Private (RGPPL) or the erstwhile Dabhol power project in Maharastra would start generating 1,900 Mw of electricity by March, 2010.
Admitting it was tough for mutual fund industry last year, market watchdog, Sebi today asked industry to encourage retail investors in the face of huge redemption pressure from corporates.
Less than a year after joining Tata Capital as its private equity (PE) venture head, Shailendra Bhandari is quitting.
The Company Law Board (CLB) today allowed Satyam Computer (now Mahindra Satyam) to finalise accounts for 2008-2009 and also adjust past irregularities.
The stars are in their 40s or more, playing roles unsuitable to their age. A new generation of actors waits in the wings.
After a year of slow growth, apparel maker and retailer Provogue is reworking its business strategy to boost revenues and prop up margins, a top company executive said.
The stock surged further to a high of Rs 37 - up 7%. The stock, however, slipped from the high and ended with a gain of 5% at Rs 36.30. Over 7.46 million shares changed hands at the counter today, comparatively higher than the two-week daily average trade of 1.56 million.
Indian telecom majors Bharti Airtel and Reliance Communications (RCom) have sought to build a fibre optic network in Bangladesh to get connected to the isolated north-eastern states, a report said on Sunday.
Adani Power has fixed the price at Rs 100 per equity share for its initial public offering (IPO) of 301,652,031 equity shares of Rs 10 each for cash.
The recovering IPO market is set to breathe life into pre-IPO placements, which were virtually dead for the past one-and-a-half years. Sources said a number of companies slated to hit markets soon were scouting for strategic investors to benchmark their public issues.
The earnings impact on account of raising cash through sale of equity will vary across companies.
An investor with a wide exposure to small caps can beat the Nifty.
Intrasoft Technologies, which runs greetings card website 123greetings.com, will enter the capital market to raise funds and has filed draft papers with market regulator Securities and Exchange Board of India (Sebi).
Costs govt Rs 315 crore in wireless and spectrum fees.
The government today started the process of consultation for the consolidation of public sector banks.
US-based private equity firm Norwest Venture Partners (NVP) today said it has raised $1.2 billion to invest in domestic and international companies across sectors.
It is the first overseas acquisition by an Indian sugar company.
The government has deferred a decision on Pepsico India Holding"s proposal to invest $200 million (about Rs 930 crore) in the next three years.