The boundary between a television set and a computer is blurring. Consider Zenith Computer-promoted Vu Technologies’ offering, the Intelligent TV, which is a television-cum-PC with a Microsoft Windows operating system (OS).
The Andhra Pradesh government has set a target of an average annual growth rate of 8 to 9 per cent in the gross state domestic product (GSDP) and a sub-target of 4 per cent for agriculture and 10 per cent for industry and the service sector. The focus would also be on increasing the share of manufacturing in GSDP to 25 per cent in phases from the present 15 per cent, said Governor Narayan Dutt Tiwari.
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.
With the BJP now negotiating with Shibu Soren to form a government in Jharkhand, with Soren as the chief minister, one wonders what happens to all the statements the party made in Parliament and outside it about Soren.
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.
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.
The 50-share Nifty also ended almost flat at 5,041.
Hyderabad-headquartered infrastructure developer, GVK Power and Infrastructure Ltd (GVKPIL), on Sunday acquired the entire stake of 17 per cent held by L&T Infrastructure Development Projects Ltd in Bengaluru International Airport Ltd (BIAL) for a total consideration of Rs 686 crore.
Petroleum and natural gas companies without any experience in executing infrastructure projects will no longer be able to bid for projects under the public private partnership (PPP) model.
Cash-strapped Air India may be heading for another strike after the meeting between the pilots and the airline management remained "inconclusive" today.
The Delhi High Court today directed the government and the National Aviation Company of India (NACIL) to file their reply on a petition challenging the merger of two state carriers Air India and Indian Airlines.
After its success from b2b online trading platform for coal and steel, Mjunction services, a 50:50 e-commerce Joint Venture of Tata Steel and SAIL today forayed into retail space with a shopping portal straightline.In.
Brokerage firm Kotak Securities today tied up with Denmark-based Saxo Capital Markets to launch a trading platform that provides real-time access to equities across 24 stock exchanges.
Axis Bank, India’s third-largest private sector bank, today entered into a strategic alliance with Motilal Oswal Securities (MOSL), one of India’s largest financial services intermediaries, to facilitate online trading for the bank’s 10 million customers.
The Sensex is now at 17,664, down 23 points. The NSE Nifty is at 5,268, down nine points.
The Centre has expressed confidence that by 2020 the polluted river Ganga would be cleaned and Rs 15,000 crore will be spent on it.
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.
The US and Japan have agreed to pursue the completion of bilateral "open skies" negotiations by the end of this year, a Japan-US negotiation source has said.
Commercial plane maker Boeing saw orders for its jets dip 11 per cent in August this year from a year ago while for the first eight months of 2009, orders plunged 71 per cent to 161 from 556 in January-August 2008.
Global financial services firm Citigroup is in advanced talks with regulators over its plans to raise more than $15 billion through an equity offering, a media report says.
Criticising private carriers for "bad management" and seeking bailout from the government, senior CPI leader D Raja today said their functioning should be enquired into and demands "carefully scrutinised".
Motilal Oswal Financial Services reported a 74 per cent year-on-year growth in net profit to Rs 47.2 crore for the quarter ended September 30, 2009.
The shares of the engineering and construction major Gammon India, which plunged 16.11 per cent in the morning trade, closed with an over 6 per cent decline on the Bombay Stock Exchange, as investors dumped its shares after one of the bridges it was constructing in Kota, Rajasthan collapsed last Thursday.
Signals to look for before deciding when to enter, lie low or get out of stock markets.
I am a 65-year-old retired engineer and live with my wife, 58. Both my children are married and well-settled. My wife and I have a mediclaim policy of base value Rs 1 lakh each (now approximately Rs 1.5 lakh). We would like to be financially independent all our lives. Advise me as to any change required in my financial plan, particularly with regard to regular investment in mutual funds.
Infosys plans to reduce the usage of sub-contractors and do its work in-house, especially at cheaper offshore locations, the IT company"s Chief Mentor N R Narayana Murthy said today.
Valuations can look stretched if the momentum in recovery doesn’t pick up as expected.
Extending gains for the third straight day, the Sensex rose 129.50 points to touch a new 2009-high of 17,360.61, backed by strong liquidity and hopes of firm economic and corporate growth.
In view of a surprising economic growth for the second quarter, Nomura Financial Advisory & Securities (India) today revised the country"s FY10 GDP growth forecast at 7 per cent from 6 per cent earlier.
Worries of rising food prices and a hike in interest rates weighed on the market sentiment. During the week, the BSE Sensex fell 400 points or 2.3 per cent to 16,720, while Nifty fell 130 points or 2.5 per cent to 4,988. However, mid-cap and small-cap stocks performed better, BSE Mid-Cap index fell by 1.6 per cent and Small-cap index declined by 1.04 per cent during the week.
Since October, stocks of hotel companies have done reasonably well having outperformed the BSE Sensex. While most of them have underperformed the broader market since January last year till March 2009, the key reason for the recent upmove is that the fundamentals of the industry are showing signs of improvement helped by the domestic demand.
The Sensex has soared to a high of 17,513 and is now at 17,501, up 157 points. The NSE Nifty is at 5,214, up 44 points
The Sensex has opened at 17,378 - up 33 points. The index is now up 126 points at 17,473.
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.
The political crisis in Andhra Pradesh worsened on Saturday when 20 ministers of the state cabinet from non-Telangana regions decided to resign to protest the formation of the separate state of Telangana.
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.
Akash Prakash / New Delhi November 27, 2009, 0:18 IST
Private sector Dhanalakshmi Bank has kickstarted a Mini Dairy Funding project in the backward Idukki district of Kerala and has plans to start a similar project in Tamil Nadu in two weeks time.
The government has now decided to go for electronic trading of wheat for bulk consumers like flour millers to boost sales of the grain in the open market.
The new rules on perks make it better to use the company car than to get usage reimbursed.
Income-tax arrears against assessees — of Rs 2,01,276 crore as on March 31, 2009 — have once again become an issue, as Parliament’s standing committee on finance has asked the Department of Revenue and the Central Board of Direct Taxes (CBDT) to put in place a Management Information System (MIS) within three months for collating and retrieving data concerning appeals, pendency disposal and recovery.
Since yearends and beginnings are about reflections and resolutions, here are some from yours truly. In 2000, I was an assistant editor at Businessworld magazine, writing and editing whatever came my way — management, media, Internet, technology. A stint in Cambridge researching copyrights in digital music, at the height of the Napster era, helped me decide to specialise in media and entertainment (M&E) writing. Now in the tenth year of making my bread and butter from this business, it makes sense to revisit the reasons I chose this industry.
The US box office will set a weekly record of almost $500 million in the final days of 2009 on sales from Avatar, Sherlock Holmes and Alvin and the Chipmunks: The Squeakquel, according to Hollywood.com.
With sanctioned credit lines going abegging, banks take corrective action.
Business Standard / New Delhi October 23, 2009, 0:41 IST
State-owned Dena Bank has reduced home loan rates for new customers as part of festival offer.
Private sector-lender, Dhanalakshmi bank today said that it has reduced its interest rate on deposits across various slabs.
The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 159.86 crore under Rural Infrastructure Development Fund (RIDF) XV to the government of West Bengal.
Nestlé has decided to take on Cadbury’s Dairy Milk head on
This festive season has been successful enough in pushing sales for companies to revise upwards their year-end targets. A survey by the Federation of Indian Chambers of Commerce and Industry (Ficci) says demand conditions have improved across sectors.
Matthew Lynn / October 7, 2009, 0:33 IST
Schools and colleges have become the new hunting ground for non-life insurers, eager to push personal accident (PA) policies, a segment which has traditionally seen low claims.
Investigators probing the radiation contamination of a drinking water cooler unit in Kaiga atomic plant in Karnataka have zeroed in on five employees from whose department the heavy water could have been smuggled out.
An Air India enquiry committee has chargesheeted airhostess Komal Singh, who had levelled molestation charges against two pilots of the airlines, for "violating the conduct rule".
US-based mobile electronics and transportation systems supplier Delphi today said it would hire 150 more engineers at its Bangalore Technical Centre to cater to the automobile sector.
S Tel, a joint venture between the Chennai-based Siva group and Bahrain Telecom, today said it will launch mobile services from tomorrow with twin tariff plans of one paise a second and 50 paise per minute.
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.
In a twin decision on its global operations involving about Rs 27,000-crore investment, the state-owned aluminium major Nalco has shelved its proposed project in South Africa, and has put on hold the one in Iran.
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.
The scrip soared to a high of Rs 1,244 and finally settled at Rs 1,228, up 2.5% from its previous close. The counter clocked 88,709 shares as comapred to the two -week daily average traded volumes of 115,510 shares on the BSE.
Private equity player, India Equity Partners (IEP) Fund Advisors Pvt. Ltd. is planning to invest around Rs 100 crore in the industrial water segment in the state of Gujarat. The company is in talks with one of the industrial water services player in Gujarat.
India, China and other developing nations have played a key role in checking the economic crisis, World Bank President Robert Zoellick has said, adding there is need of multiple poles of growth as the global economy can no longer rely on the US consumers.
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.
Corporate acquisitions in India could become costlier with market regulator the Securities and Exchange Board of India (Sebi) mulling making it mandatory for acquirers to make an offer for up to 100 per cent stake in any listed company.
The government is considering a proposal to elevate some Navratna PSUs to Maharatna companies to allow them more freedom regarding investment, Bhaskar Chatterjee, secretary of the Union government"s department of public enterprises, today said.
United Spirits today acquired the entire share capital of Tern Distilleries (Tern) based in Andhra Pradesh for Rs 13.42 crore. Consequent to this acquisition, Tern has become a wholly owned subsidiary of United Spirits.
Kolkata-based FMCG major Emami is scouting for acquisitions in the domestic and overseas markets and says it can spend up to Rs 800 crore on this.
In what could be termed as a victory for home grown FMCG player Emami, the Kolkata Civil Court has restrained Hindustan Unilever (HUL) from running a campaign using the word "Boro" in its advertisement for Vaseline.
Pakistan has alleged that India"s RAW is backing insurgency in its southwestern Balochistan province and said it is probing the matter.
With the luxury liquor segment in India growing by 30-40 per cent annually, the coming year could see a number of premium overseas brands entering into the domestic market.
The stock gained 5 per cent to close at a 52-week high of Rs 236.10 on reports that steel companies may increase prices next month to cash in on the demand surge in the domestic market and recovery in the global steel prices.
IT and ITeS being a knowledge industry does not discriminate in recruiting employees and the hiring is done on the basis of merit and competency, the Government today said in the Rajya Sabha.
Now you can buy an annuity cover on reverse mortgage loans.
In a recent landmark judgement in Coca Cola India Pvt. Ltd. vs. Commissioner of Central Excise (2009-VIL-06-HC-BOM-ST), the Mumbai High Court has interpreted the relevant provisions of service tax law in a broad and inclusive manner in order to hold that expenses incurred by a company in relation to advertising and promoting a brand owned by it would be eligible for input tax credits as such services will qualify as ‘input services’. The decision has extended the present understanding of the service tax provisions to a significant extent and beneficially at that.
Public sector lenders Bank of Baroda and Indian Bank today announced that they had appointed new Executive Directors.
Bajaj Auto ended at Rs 1,724, higher by Rs 81 or 4.9%, on the BSE, accompanied by a surge in volumes.
The power supply in the state was disrupted when around 20 armed Naxalites attacked Balimela hydro power station in south Orissa on Saturday night damaging its Valve House and thus affecting generation at the station.
T E Narasimhan / New Delhi November 14, 2009, 0:35 IST
The signs of global economic recovery have given new life to the Indian diamond processing industry, with export orders rising sharply by 20 per cent for execution on the occasion of Christmas and New Year.
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.
Two-wheeler maker India Yamaha Motor today said its sales have grown by 2.12 per cent in November to 17,055 units, against 16,701 units in the same month last year.
Kanika Datta / New Delhi December 10, 2009, 0:53 IST
J K Paper Mills, a leading paper manufacturing company has initiated the process of registration with the United Nations Framework Convention of Climate Change (UNFCCC) on carbon credits in the forestry sector.
Bolstering the world economic recovery and crafting a deal to fight climate change will be top of the agenda for G20 finance ministers meeting tomorrow in Scotland.
Driven by scarcity of talent and increasing competition, India Inc is expected to hike salaries in the new year with the pharma, telecom and consumer goods companies leading the space with up to 12 per cent pay hike, global consultancy Ernst & Young (E&Y) says.
The Centre for Monitoring Indian Economy has revised its GDP growth forecast for the current fiscal to 6.7 per cent from 6.2 per cent announced last month.
Domestic crude oil production in India declined by 1.2 per cent in HI of the current fiscal from the same period a year ago due to fall in output by oil exploration and production major-- ONGC, an economic think-tank said in its report.
Despite the ongoing global economic crisis, people worldwide will spend more this year on consumer electronics, IT and telecom and are expected to take the total market size to $706 billion, according to a survey.
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.
On an overseas acquisition spree over the past few years, Indian companies, have suddenly become wary of making investments in foreign companies as a result of the current global economic crisis, a Columbia University report said on Monday.
Engineering and construction major Larsen & Toubro (L&T) has signed a memorandum of understanding (MoU) with the US-based GE Hitachi Nuclear Energy, one of the largest nuclear power plant vendors in the world, for the construction of nuclear power plants in India.
The government will rely heavily on borrowings to finance its various flagship schemes as the target for this head has been increased to 34 paise of every rupee from 14 paise projected in the last Budget.
Industry body Assocham today called for consolidation in the Indian banking sector without any delay to enhance global competitiveness, despite dithering of RBI on the issues.
Minister for women development and child welfare Konda Surekha submitted her resignation to Governor ND Tiwari on Thursday. The minister stated she had resigned as she was unable to continue in a cabinet without former chief minister YS Rajasekhara Reddy. Ever since the death of YSR, Surekha has been pitching for the chief ministership of YS Jaganmohan Reddy, the late chief minister"s son. She had even said earlier that she would resign if Jaganmohan Reddy was not made the chief minister.
In advanced discussions with many domestic lenders, including SBI, Axis Bank and IDFC for raising the debt.
Kotak Mahindra bank today announced its first quarter results. The bank"s net profit went up by 72 per cent to Rs 257 crore in first quarter of FY10 compared to Rs 150 crore in the corresponding quarter last year on a consolidated basis.
Indian Overseas Bank (IOB) today slashed benchmark prime lending rate (PLR) by 0.5 per cent to 12 per cent in line with its peers.
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 trading pattern in the Futures & Options (F&O) segment suggests that the Nifty could breach its immediate support of 4,820 and find support at 4,750. Daily technical indicators are currently oversold but without any backing from other studies. According to a technical analyst at JM Financial, the chart set-up remains weak and hence positive surprises are unlikely.
BS Reporter / Mumbai October 27, 2009, 22:21 IST
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.
Business Standard / New Delhi October 28, 2009, 0:01 IST
Control on operating expenses and growth in margins and other income helped Bank of Baroda (BoB) post a 60.4 per cent rise in net profit to Rs 634.18 crore for the second quarter ended September 2009. Its net profit in July-September 2008 was Rs 395.29 crore.
Vijay Mallya-controlled Kingfisher Airlines has reported a 13.4 per cent drop in its net loss at Rs 418.23 crore during the second quarter ended September 30, 2009 compared to a net loss of Rs 483.2 crore in the corresponding quarter last year. Its income from operations declined by 13.6 per cent to Rs 1,142.1 crore during the quarter compared to the same period a year ago.
FMCG company Jyothy Laboratories today said its net profit surged by nearly three-fold to Rs 14.11 crore for the quarter ended September 30 against the same period last fiscal.
Business Standard / New Delhi January 08, 2010, 0:53 IST
Leading auto component manufacturer Pricol has said it may be forced to move production units out of the district due to frequent strikes and "non-cooperative" attitude of some workers for the last two years,substantially bringing down its profit margin.
Congress likely to continue consultations with various interest groups and political parties.
The rupee on Monday hit a fresh 15-month high against the dollar. Dealers offered oil companies’ dollar buying and heavy inflow of funds from foreign institutional investors (FIIs) as reasons.
Credit growth of banks remained at 13 per cent for the fortnight ended January 1 compared to 24 per cent in same period a year ago.
Set to turn the company around this year.
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.
When financial stocks slumped in February to the lowest level in at least 17 years, US Federal Reserve Chairman Ben S Bernanke told Congress the government might end up owning “substantial” stakes in the country’s biggest banks.
After its Rs 462-crore initial share sale, the real estate developer Godrej Properties today said it plans to raise around Rs 3,000-crore through debt or equity to fund its expansion plans over the next two-three years.
The markets have opened on a lacklustre note. The Sensex is quoting at 16,690, down 29 points and the Nifty is at 4,974, down 12 points.
The Nifty remained listless after opening on a positive note on lack of follow-up buying in cash and F&O segments. With traders unwilling to be active at higher levels, the derivatives trading volume dropped significantly by Rs 10,000 crore. The Nifty December futures closed on a par with the spot index and shed 1.24 million shares in open interest (OI), mostly through a blend of buy and sell trades, indicating short-covering and unwinding of long positions. The rollovers in the Nifty January were lower at 0.78 million shares compared to unwinding in the December futures. This indicates that participants are not in a hurry to rollover their positions at the current level.
Kalpataru Power Transmission closed at Rs 1151, weaker by Rs 19 or 1.64%, on the BSE.
ANMI attempts to perusade NSE and BSE to stick to current opening time.
Over 15 senior executives of the PricewaterhouseCoopers (PwC), whose Bangalore-based arm audited accounts of scam-hit Satyam Computer Services, have quit and would be joining PwC"s global rival KPMG.
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.
Societe Generale SA, France’s second-largest bank by market value, said third-quarter earnings doubled as its investment-banking unit returned to profit.
British banking major Standard Chartered today said its proposed local listing would enhance its commitment to Indian market.
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.
Global banking behemoth Standard Chartered plans to hire 3,000 employees in India by the end of 2010, a year that would also see it listing its shares on the bourses in India.
Vishnupriya Hotels Limited (VHL), which is setting up a five-star hotel at Visakhapatnam, has tied up with US-based JHM Interstate to operate the hotel.
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.
National carrier Air India today received the National Energy Conservation Award 2009 for its efforts in saving fuel and reducing carbon emission.
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.
The Union shipping ministry has asked all ports in the country with a presence of Dubai World’s maritime subsidiary, DP World, to report on how much trade goes through the company-operated terminals.
Rrishi Raote / New Delhi July 25, 2009, 0:52 IST
That the new direct taxes code is proving embarrassing for the government is obvious, it’s just that one didn’t realise the government felt the same way as well. At one point the code says, “A business shall be distinct and separate from another business if there is no interlacing, inter-dependence or unity ‘embarrassing’ the two businesses.” Now that’s embarrassing.
Average participation in the last 12 offers was just 2.39 times
Undeterred by the premature end to its life insurance joint venture with Indiabulls Financial Services Ltd, French banking giant Societe Generale is still buoyant on the opportunities in the sector and plans to develop a fresh strategy.
The government today said no headway has been made regarding the disinvestment of state-run power equipment maker Bharat Heavy Electricals Ltd (BHEL).
Quarterfinals at the World Cup. Just five of the top ten seeds are still in contention. Gelfand (No:1) is tied with Jakovenko (9) while Ponomariov (7) is tied with Gashimov (2) after the first game. Svidler (3) appears to be on his way out against Malakhov (22) and Karjakin (12) looks set to eliminate Mamedaryov (13) after Malakov and Pono won their first games.
Fifty years ago, opponents used to complain that the young Mikhail Tal’s “hypnotic” gaze added to the psychological pressure caused by his dynamite sacrifices. Hungarian-US GM Pal Benko took to wearing wraparounds when playing Tal. Tal was amused but the shades prompted complaints from others, who were distracted.
Comprehensive civil nuclear pact to be signed during PM’s visit.
After a lull of over eight months when virtually no new endorsement deal of any significant value was signed, the Rs 400-450 crore celebrity endorsement business is back on the recovery path.
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.
Continuing its yesterday pullback coupled with strong cues fromm global markets, the Sensex opened with a positive gap of 110 points at 17,069. The index soon spurted to a high of 17,121 and thereafter exhibited firm trend till noon trades.
The Sensex has dropped 55 points to 16,905. The Nifty is down 16 poinst at 5,011.
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.
Weakness in realty stocks weighed on Unitech. The stock could not hold gains and slumped to a low of Rs 82. It finally ended with a loss of 5.5% at Rs 84. Around 27 million shares were traded on the BSE today.
The Initial Public Offer (IPO) of Satluj Jal Vidyut Nigam Ltd (SJVN), the state-owned hydro power producer, is likely to hit the market in the next financial year.
The Sensex has ended at 16,647, down 208 points, and the Nifty has ended at 4943, lower by 63 points (provisional closing).
Investing in this capital-intensive sector calls for a close look at existing power purchase agreements and fuel supplies
Sahara Prime City Ltd, the company planning India’s second-largest real estate initial public offering in more than two years, is in talks to raise as much as Rs 1,000 crore ($214 million) from private equity investors.
Public sector hydropower producer Satluj Jal Vidyut Nigam (SJVN) today said its proposed initial public offer is likely to come in the next fiscal and the company is in the process of appointing independent directors, a prerequisite for firms planning to hit the market.
In 2000, British Telecom and Vodafone were the darlings of stock markets in the UK. But share prices and revenues took a knock after the telecom majors won 3G spectrum through a high-priced bidding.
The government will sell 8.38 per cent of its stake in the mining major NMDC before March 31, 2010, generating Rs 14,100 crore from the process.
Mysoreans will have the opportunity of witnessing for the first time thrilling aerobatic demonstrations by the Suryakiran team of the Indian Air Force (IAF) during this Dasara.
The CBI today began its probe into the helicopter crash that killed former Andhra Pradesh Chief Minister Y S Rajasekhara Reddy and four other persons with a team visiting the site in Nallamala forests.
Pantaloon Retail, the country’s largest listed retailer, was likely to open its qualified institutional placement (QIP) issue from Friday, sources said. The company plans to raise anywhere between Rs 300 crore to Rs 400 crore from the issue.