Management
The Centre has approved the proposal for grant of mining lease (ML) to the state-owned National Aluminium Company Limited (Nalco) over Gudem and Katamraju Konda bauxite blocks in Andhra Pradesh. The AP government had earlier sent its recommendations in favour of the company to the Centre for the same property. The two deposits are estimated to have 85 million tonne of bauxite.
Business Standard / New Delhi December 15, 2009, 0:24 IST
In a few weeks, Knopf will publish The Original of Laura: Fragments. The “fragments” is key. The design chosen for the final, unpublished manuscript that the late Vladimir Nabokov wanted destroyed is appropriate to the way he wrote it. The book includes reproductions of the 138 index cards on which the author, suffering from his last illness, wrote the unfinished version of the book he hoped would stand comparison with Lolita and Pale Fire.
spite the global recession, Karnataka continue to lead in software exports which touched a margin of Rs 71,000 crore in 2008-09.
Construction firm Ahluwalia Contracts India today said it has bagged four orders worth Rs 242 crore from various vendors for construction-related works.
People in India swear by the success of the real estate sector, understandably so, for it is the country’s second largest employer and contributes to approximately 5 per cent to its GDP. The sector received foreign direct investment (FDI) of about Rs 21,370 crore between April 2007 and March 2009, second only to the services sector.
Hours before Maoist-backed activists held the Bhubaneswar-originating Rajdhani Express hostage inside West Bengal near the Jharkhand border, an angry Mamata Banerjee today demanded the anti-Maoist operations in her state should be stopped. And that the Union government prepare the ground for imposing President’s Rule.
Focusing on the education sector, the Uttarakhand government has announced setting up of a National Institute of Technology (NIT) in Pauri district at a cost of Rs 400-Rs 500 crore.
The arrest of former Jharkhand Chief Minister Madhu Koda by the Enforcement Directorate (ED) is "imminent" as the evidence against him, for allegedly carrying out hawala transactions and illegal investments worth crores of rupees, "is satisfying".
The Midcap and Smallcap indices have outperformed the Sensex and are up 0.31% and 0.63% each at 6,739 and 8,410, respectively.
British banking giant Barclays is curtailing international expansion plans under a crackdown imposed by its new head of retail banking, Anthony Jenkins, a media report says.
Auto major Hyundai Motor India Ltd (HMIL) on Monday entered into a memorandum of understanding (MOU) with Chennai-based Indian Bank.
Jet Airways plans to complete its first tranche of fund raising of around $150-200 million over the next 3-4 weeks, a senior company official said.
Realty firm Omaxe today said it will develop four new housing projects at an investment of Rs 1,500 crore over the next three years and is mulling increasing prices of existing projects within three months.
As the Obama administration works to garner support for healthcare reform, about $1.2 billion in grants were announced today to help hospitals and healthcare providers implement and use electronic health records.
Continuing with its low interest rate regime to boost the nation"s recession-hit economy, the Bank of England today left the key interest rates unchanged at 0.5 per cent.
Buoyed by the Trinamool Congress’ success in the just-concluded Arunachal Pradesh elections in which it won five seats, party chief Mamata Banerjee has decided to field candidates in the upcoming Jharkhand elections as well. Even as the Congress is irked by Banerjee’s zeal as her party eats into its votebank, Banerjee is determined to make the Trinamool a registered national party by increasing its vote share in other states. The two parties are partners in the United Progressive Alliance but Banerjee is yet to decide if the Trinamool will support the Congress government in Arunachal Pradesh or sit in the opposition. Banerjee is also looking at constituencies in the East Singhbhum area — with a considerable Bengali population — as her target constituencies in Jharkhand.
Reserve Bank Deputy Governor, K C Chakrabarty, today said that rise in bond yields was not a concern for the central bank and yields would come down only if banks cut their deposit rates.
Reliance Industries Ltd (RIL) has bagged rights to retail CNG to automobiles and pipe gas to households in two cities of Andhra Pradesh and one in Madhya Pradesh.
Union law minister M Veerappa Moily today said a road map for judicial reforms would be ready by September 30.
The Delhi High Court today accepted the findings of NHRC giving clean chit to Delhi Police in the controversial Batla House encounter case and declined to institute a judicial probe into the gun-battle in which two suspected terrorists and a police officer were killed.
The government today revised its petition on the Ambani gas dispute before the Supreme Court, restricting its prayer to that part of the private agreement that pertains to gas.
Swiss drug maker Novartis AG has hiked its stake to 76.42 per cent in its Indian subsidiary Novartis India pursuant to the completion of open offer.
Swine flu worries and weak cues from the Asian markets dragged the markets today, despite strong June IIP numbers. However, markets recovered towards the close, to settle near the day"s high, led by fresh buying in select index heavyweights. Realty stocks, led by DLF, were the major benefeciraies in the pull back.
With a modest rise in net interest income (NII) and decline in treasury income, Bank of Borada (BoB) has posted a net profit growth of 17.5 per cent to Rs 832.49 crore for the quarter ended December compared to Rs 708.37 crore recorded in the same period of the previous year.
Altogether 73 swine flu cases, the highest for a day so far, were reported today in the city, which has so far seen five H1N1 deaths.
Bajaj Auto today said it expects an increase in the company"s sales volume on account of better demand during the festive season.
The global financial crisis that spilled over into its second year choked flow of foreign direct investments into India in 2009, forcing the government to loosen rules for investments but it kept multi-brand retail off-limits to foreigners.
Private airline Jet Airways today posted a profit of Rs 105.80 crore for the third quarter ending December 31, 2009, the company said in statement here.
Public sector lender Bank of Maharashtra reported 7 per cent drop in net profit to Rs 112 crore for the quarter ended December 31, 2009 as against Rs 120.6 crore in the year-ago quarter.
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.
Colours and clothing may waltz in and out of style, but the watch is an accessory that rarely sees an off season. Here are a few picks to flaunt this summer:
Shuchi Bansal / New Delhi July 03, 2009, 0:22 IST
Reduction in the fringe benefit tax (FBT) from 20 per cent to 5 per cent for media personnel working for both print and electronic media companies was among the demands submitted to the finance ministry today by Ambika Soni, the minister for information and broadcasting (I&B).
Drug maker Sun Pharmaceutical Industries today said its net profit rose by 22.24 per cent to Rs 1,817.73 crore in 2008-09 over the same previous fiscal.
Business Standard / December 27, 2009, 0:21 IST
Business Standard / New Delhi December 21, 2009, 0:38 IST
Regulator charges the firm with allotting employee quota shares to others.
Swiss drugmaker Novartis has begun injecting its swine flu vaccine into people in the company"s first human tests, a spokesman said today.
Investment banking major Goldman Sachs today reported huge profit of $3.44 billion for the second quarter ended June, bolstered by stellar performance in trading operations.
The country"s largest steel maker Steel Authority of India (SAIL) today said it is open to partnering NMDC in setting up a steel plant in Karnataka, primarily catering to sectors like the automobile and consumer durables.
The stock ended at its 10% upper circuit of Rs 125. The counter clocked volumes of 1.26 million shares as compared to the two-week daily average traded volumes of 913,935 shares on the BSE. The scrip surged 111% in a month.
Global steel major ArcelorMittal, which has lined up Rs 1 lakh crore investments for India, said today it is in the race for a chunk of the mineral-rich Chiria mines in Jharkhand.
ArcelorMittal: ArcelorMittal is firmly out of crisis mode. The world’s largest steelmaker, led by billionaire industrialist Lakshmi Mittal, delivered an unexpected return to profitability in the third quarter – after nine months of consecutive losses. Arcelor is nevertheless right to be rein in shareholders’ expectations.
A crucial UN climate summit opened here today amid calls for "early action" to combat the threat and with the hope that emission reductions promised by key countries had put the world closer to a global warming control pact.
Business Standard / New Delhi October 22, 2009, 0:54 IST
State-run Bharat Petroleum Corporation (BPCL) has posted a 62-fold increase in net profit of Rs 3,628 crore during the quarter ended March 2009 against Rs 58.4 crore in the year-ago period. The rise came on the back of higher oil bonds received and over-recovery on sale of fuel products.
The construction work for the 220 KV line from Paradeep Grid sub-station of the Orissa Power Transmission Corporation Limited (OPTCL) to the proposed petroleum refinery premises of the Indian Oil Corporation Ltd. (IOCL) is yet to start.
The Orissa Electricity Regulatory Commission (OERC) has stayed the operation of the load restriction order issued by the Orissa Power Transmission Corporation Ltd (OPTCL) to restrict the drawal of industrial load up to 10 Mw. It has issued notice to the State Load Despatch Centre (SLDC), OPTCL, Grid Corporation of Orissa (Gridco) and the Orissa government to file their replies before OERC within 7 days.
French power equipment maker Areva is all set to dispose of its transmission and distribution business, including its Indian arm Areva T&D.
French power equipment maker Areva"s Indian arm, Areva T&D, today said it has bagged an order from aluminium major Hindalco for erecting 440 kilo volt (Kv) substations at its plants in Singrauli (Madhya Pradesh) and Sambalpur (Orissa).
Sterlite Industries, the Vedanta Group diversified base metals producer, has posted 42 per cent decline in net profit at Rs 924 crore in the first quarter of the current financial as compared to Rs 1,595 crore in the same quarter of the previous year. Net sales of the company also plunged by 21 per cent to Rs 4,537 crore from Rs 5,770 crore. Earnings per share (EPS) slipped, therefore, to Rs 9.49 from Rs 16.25 in the first quarter of the previous year.
The stock zoomed to a new 52-week high of Rs 470, up 12% from the day"s low. It finally closed with a huge gain of 9% at Rs 461. The volumes rose more than three-fold to 59,646 shares from its two-week daily average trade of 18,153 shares on the BSE.
The Gujarat government has requested the Union Finance ministry to exempt electricity transmission from service tax and keep transmission charges outside the purview of TDS, a senior state minister said.
Gail India
Tata Motors has started distribution of its Prima range of World Trucks, unveiled in May. The first product, the Prima 4028 S, is a 40-tonne 266-PS (Cummins ISBE engine) tractor with a 9-speed ZF transmission, a matching trailer with new generation brakes, ABS and specialised axles for heavy-duty and high-speed application. The tractor’s air-conditioned cabin includes reclining seats, adjustable steering wheels and arm rests for driver comfort. It has got sleepers to facilitate long-distance travel.
Tata Motors’ decision to promote its mini-truck as an FMCG brand has worked
The Sensex has ended (provisional) at 16,912- up 74 points.
The Sensex after moving in the negative terrain for quite some time has rebounded into the green on the back of buying in the IT shares. The Sensex is now at 16,898, up 21 points.
Barely three months after emerging out of bankruptcy, General Motors has launched its luxury Sedan, the Chevrolet Cruze, in India. Built on a global platform called the 300 series, the Cruze will compete with the Honda Civic, Skoda Laura and Volkswagen Jetta for a space in the executive segment.
Homegrown auto maker Mahindra & Mahindra (M&M) today reported its highest ever domestic monthly auto sales with 67.4 per cent increase in January at 28,988 units against 17,320 units in the same month last year.
The Nifty closed in a Doji pattern on the last day of this month’s expiry today, indicating continuation of indecisiveness in the next series. Global cues are strong and hence the Nifty is likely to trade above 4,800 with strong support at 4,820.
Contrary to general belief that share prices will rise ahead of the Union Budget, the expectation is that they will fall further due to the expected withdrawal of some stimulus measures, according to foreign brokerage Bank of America Merrill Lynch.
After successfully conquering Europe with its hatchback A-Star, the country"s largest car maker Maruti Suzuki India (MSI), is turning its eyes to the South East Asian market with its latest compact car Ritz.
IT firm Zylog Systems today said it is eying acquisition in Canada and its board has given approval to go-ahead with the bidding process.
China has told some banks to limit lending and will restrict overall credit growth in the nation to 7.5 trillion yuan ($1.1 trillion) this year, banking regulator Liu Mingkang said.
Retail brokerage firm IL&FS Investsmart was On Thursday renamed as HSBC InvestDirect to align it with the HSBC brand following its takeover by the foreign lender last year.
Talking to the civil servants, Prime Minister Manmohan Singh today asked them to be innovative and quick, saying people resent "apathy, sloth and corruption" at any level of government more than ever before.
The country"s largest power producer NTPC has asked the government for abolition of import duty on coal, which currently stands at 8 per cent.
Unhappy over the Reserve bank of India"s (RBI) more-than-expected 75-basis point hike in cash reserve ratio (CRR) to squeeze money supply, India Inc today cautioned that economic growth will be hit if accommodative monetary stance is reversed hastily.
Karnataka Chief Minister B S Yeddyurappa is not likely to initiate any legal action against former Prime Minister H D Deve Gowda for using unparliamentary language against him but the state unit of BJP has threatened to file a suit against the JD(S) Chief.
The Reserve Bank today raised by 75 basis points the cash reserve ratio -- the amount lenders need to keep with the central bank-- to suck Rs 36,000 crore out of the system and cool down the surging inflation.
The Reserve Bank of India, in its Monetary Policy review today has hiked the Cash Reserve Ratio (CRR) by 75 basis points (bps) to 5.75 per cent, while holding the repo and reverse repo rates steady in line with market expectations.
Steel czar L N Mittal may announce his company ArcelorMittal"s Rs 30,000-crore steel project in Karnataka tomorrow after his meeting with the state Chief Minister B S Yeddyurappa.
Telecom regulator Trai is mulling to bring the tower business of telecom companies under the ambit of regulations so that the Department of Telecom can consider a separate policy for the segment at a later stage.
The mobile operators together added a whopping 19.10 million new subscribers in December, taking the mobile user base to 525.15 million, according to the data released by the sectoral watchdog Trai.
L&T Infotech, the software solutions providing company of Larsen & Toubro, announced today that it has bagged the e-governance implementation project of the All India Council for Technical Education (AICTE).
Anil Ambani Group firm Reliance Natural Resources (RNRL) today reported growth of 3.30 per cent in net profit at Rs 25 crore for the third quarter ended December 31, 2009, over the same period last year.
Global cues and fears of tightening monetary measures by the central bank pulled down the benchmark BSE Sensex 490.6 points (2.92 per cent), marking the sixth day the market has been in a bear grip.
The Sensex is quoting at 16757, lower by 102 points, and the Nifty is at 4996, down 39 points.
India today said it is disappointed with the outcome of the recent WTO ministerial in Geneva as "nothing" substantive was done to resolve the differences to free global commerce.
India has asked the developed world to modify their stand on market access to the developing countries to make progress on the Doha Round.
Most of the business leaders surveyed across the world sounded optimistic about growth prospects and are planning to raise headcounts this year, indicating that fears of world financial meltdown have receded, said a survey.
The iconic US cult bike maker Harley Davidson is set to enter Indian markets tomorrow, two years after it was first granted permission to start operations in the country.
Controversy-ridden UN climate panel has said it is reassessing another of its claim for linking global warming to an increase in the number and severity of natural disasters, bringing fresh embarrassment to it.
Recent studies on energy consumption in the Gulf region have changed the misconceptions about the sustainability of eco-friendly "green" buildings, prompting adoption of such models.
Candidly favouring immigration, opposition leader Tony Abbott today asked Australians to have "a mature debate about immigration without being branded racist."
Shilpy Sinha / Mumbai January 8, 2010, 0:47 IST
Finance Minister Pranab Mukherjee today said the government will pass the Right to Food Act to promote inclusive growth, a concept that has been pursued by the Congress since Independence.
Notwithstanding the high voltage overseas road shows and Incredible India campaign, the decline in foreign tourist arrivals in the country continues.
The government today said it does not intend to increase borrowing target for the current fiscal 2009-10, which has been pegged at Rs 4.51 lakh crore.
The government today said though the exports affected by the global slowdown are hovering in the negative zone, the slide has slowed.
The unemployment rate in the OECD region — a grouping of 27 developed and developing nations — stood at 8.8 per cent in November 2009, amid the global labour market slowly witnessing signs of stabilisation.
Ahead of President Lee Myung-bak"s visit to New Delhi, South Korea today said it is keen to forge cooperation with India in the nuclear energy sector as the two countries plan to upgrade their ties to strategic partnership.
AV Rajwade / New Delhi December 21, 2009, 0:43 IST
Indian economy may expand by 8.2 per cent next fiscal on robust domestic demand, especially from infrastructure sector, Goldman Sachs said in a report today.
Promises mega investment in green vehicles, new models, jobs
Challenges posed by climate change hit centrestage in 2009 which saw the government doing a flip-flop ahead of the crucial Copenhagen summit even as the Opposition and experts alleged that India succumbed to pressure from rich nations on emission cuts.
How S Ramadorai groomed Natarajan Chandrasekaran as his successor.
Maruti Suzuki plans to expand its passenger vehicle production capacity at Manesar, near here, by around 2,00,000 units over the next two years, said R C Bhargava, chairman. Currently, the plant at Manesar, the company’s second, which produces the company’s new models like the Swift, A-Star and the Ritz, has a capacity of around 3,00,000 units.
Jagdish Khattar-led Carnation will start selling vehicle spare parts under its own brand by next year, even as the company plans to expand its used car business.
Carnation, the multi-brand car servicing major, today announced plans to roll out its own brand of auto spare parts by mid-2010. “We’ll be launching our own brand of genuine car spare parts,” said Jagdish Khattar, CMD of Carnation, at the formal launch of nine service outlets today.
Prime Minister Manmohan Singh"s positive observations on Sri Lanka winning the war against LTTE augurs well for a "renewed friendship" between the two countries which were "somewhat strained" during the last phase of the civil war, the state media commented today.
Over 175 exhibitors from India and abroad are expected to showcase their designs and products at the second edition of the Kerala Gem and Jewellery Show, which begins here from November 21.
Mobile handset maker China Wireless Technologies today forayed into the Indian dual-sim smart-phone market in partnership with Reliance Communications (RCom), aiming to clock Rs 800 crore revenue in the next five years.
Global cues put pressure but market breadth remains positive.
Foreign exchange losses of Rs 22 crore in the quarter ate into the profits of Delhi-based NIIT Technologies, which posted a profit after tax (PAT) of Rs 26.3 crore for the fourth quarter ended 31 March, 2009, down 15 per cent from Rs 31 crore in the corresponding quarter last year.
With states speeding up distribution reforms in the power sector, the requirement for Central funds has gone up by over a half in the next financial year.
In what would be the second biggest initial public offer (IPO), Naveen Jindal-promoted Jindal Power Ltd (JPL) plans to raise up to Rs 10,000 crore in this financial year.
Jindal Power, a subsidiary of Jindal Steel & Power (JSPL), has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for a public issue of equity shares through 100 per cent book building method.
Indian-American Anil Kumar, former director of consulting firm McKinsey, has pleaded guilty to fraud charges in one of the largest insider trading cases in US" history, admitting that he got $1 million for giving secret information to its alleged ringleader Raj Rajaratnam.
Controversy continues to dog Aamir Khan starrer "3 Idiots" with the Maharashtra government today deciding to examine its content after the film reportedly inspired a ragging incident in a Mumbai medical college.
Builders feel move may hinder development.
The life insurance industry logged a 21 per cent increase in premium collections during the first seven months of the current financial year compared to the same period last year, indicating recovery in the sector.
ICICI Bank on Friday said its consolidated net profit rose 75.7 per cent to Rs 1,144.6 crore in the quarter ended September on the back of a good show by its subsidiaries.
The creation of a single national media policy and a single-window clearance for companies involved in the media and entertainment sector will give required fillip to the domestic media industry, says India Inc.
Funds will have to launch products tailor-made for semi-urban, rural markets.
Mutual fund houses are aiming to raise money at a time when the existing equity funds are finding it tough to cope with low inflows and redemption pressure. Should you subscribe?
Income fund category continues to remain the top money gatherer.
Support at 5,150, resistance at 5,300.
Maharashtra Electrosmelt (MEL), a SAIL subsidiary, will invest Rs 200 crore to set up a furnace with capacity of 42,000 tonnes per annum at its Chandrapur plant.
Anglo-Australian mining major Rio Tinto today said it will make its first ever sale of iron ore in India, to Essar Steel.
The Prime Minister’s Office does not have any information whether cabinet ministers who were part of the Empowered Group of Ministers (EGoM) to decide on the price of gas from the Krishna-Godavari basin had declared if they had any conflict of interest with regard to Reliance Industries Ltd or the late Dhirubhai Ambani. The PMO has said so in reply to a Right to Information (RTI) query.
Lloyds Banking Group Plc, the UK’s biggest mortgage lender, plans to raise a record 13.5 billion pounds ($22.3 billion) in the country’s biggest rights offering, selling shares at a 59.5 per cent discount. The bank gained in London trading.
Infrastructure focussed private equity fund raising is likely to rise next year as investors consider it a safer option that will balance their investment portfolio, according to global research firm Preqin.
Aviva Life Insurance-joint venture between Dabur and Aviva and DBS Bank-Singapore headquartered financial services group today announced a bancassurance partnership in India. DBS has branches across 10 cities in India.
JSW Steel plans to abandon its coal mining project in Mozambique because of higher than expected ash content in the coking coal.
The coal consumers drawing coal from the Basundhara coal block under the command area of Mahanadi Coalfields Limited (MCL) continue to grapple with the problem of inferior quality of coal supplied to them.
The stock managed to erase all its losses and rebounded into the positive zone to touched a high of Rs 247.The scrip finally flat settled at Rs 237, up 0.42%. Around 44,483 shares were traded today as compared to 27,649 shares.
Bank of America Corp, the largest US lender, raised $19.3 billion selling securities at $15 apiece in the biggest sale of stock or preferred shares by a US public company since at least 2000.
Silicon Valley is beset by the biggest office property glut since the dot-com bust, leaving the US technology hub with empty high-rises and office parks that make it impossible for landlords to sustain average rents.
The domestic exchange traded currency futures on Wednesday witnessed the highest turnover since its launch last year. The combined turnover on the MCX Stock Exchange (MCX-SX) and the National Stock Exchange (NSE), the two exchanges where currency futures are traded, was a record Rs 29,194 crore.
Bangalore-based maker of medical diagnostic equipment, Opto Circuits (India) Ltd (OCI), today announced that its US-based subsidiary, Criticare Systems Inc (CSI), has forged a multi-year original equipment manufacturing contract with another US company to privately label its anaesthesia monitor for the US firm.
The country emerges as a bigger player on the global scene
Indian corporate gifting companies are set to laugh all the way to the bank this New Year. For, after a temperamental period in 2008 and 2009 on account of the recession, corporate biggies have finally started loosening their purse strings and placing orders for high-end gadgets like iPods, digital photoframes and dual-SIM handsets to dole out to their employees as well as clients.
Reliance Industries" Executive Director and Crisil former Chairman, R Ravimohan passed away last night here due to cardiac arrest.
The FIIs long build-up in the Nifty futures and short covering in stocks futures during the week ended November 13 augur well for the market. The Nifty expected to hit a new high in the coming week if it crosses a crucial resistance at 5,060. On the down side the 4,940 is healthy support and below that 4,860 is the crucial support level. The Nifty rose over four per cent during the week largely due to short covering from the foreign investors in Nifty futures and stocks futures.
Stock markets were propelled by robust industrial growth data, the government’s reform initiatives and strong global markets. The Sensex ended the week higher by 690.55 points, or 4.27 per cent, at 16,848.83, while the Nifty closed at 4,998.95, up 202.80 points, or 4.23 per cent.
The share of SGX Nifty has risen from 2% in March to 5.9%.
The Sensex has come off from the day"s high and is now at 17,203, up 71 points. The NSE Nifty is at 5,106, up 15 points.
The Securities and Exchange Board of India (Sebi) is examining the possibility of allowing inclusion of currency and interest rate futures in portfolio management services (PMS).
The Supreme Court today issued a notice to Glaxo Smithkline Consumer Healthcare in a case relating to the advertising war between two popular health drink brands Horlicks and Complan in India.
Hyderabad-based drug maker Dr Reddy"s Laboratories plans to launch generic version of the world"s largest selling anti-cholesterol medicine "Lipitor" in the US market in the next 2-3 years.
Ahead of its upcoming annual general meeting on December 31, 2009, Israeli drug firm Taro Pharmaceutical today asked its shareholders to reject a takeover bid by India"s Sun Pharmaceuticals.
Indian drug companies Wockhardt and Sun Pharmaceutical Industries have received final approval from the United States Food and Drug Administration (USFDA) to market generic versions of Nicardipine, the hypertension drug.
Sun Pharmaceutical Industries has settled a patent dispute with MedImmune, a unit of drug major Astra Zeneca, to dismiss an ongoing litigation in a US District Court. This was on patent rights of Ethyol (amifostine), a drug used to reduce toxicities associated with chemotherapy and radiation in head and neck cancers.
Israeli drug maker Taro Pharma has alleged that Sun Pharma is attempting to seize its control by waging a proxy war.
Sun Pharma today said it would revise the revenue guidance for 2009-10 as the company was not sure when its US subsidiary, Caraco Pharmaceuticals, would be able to meet the regulatory standards of the Food and Drug Administration (USFDA).
The market capitalisation of 48 PSUs have spurted by a whopping Rs 1.89 lakh crore in the past five trading sessions, with these state-run companies suddenly turning investors" darling.
The country"s most valued firm Reliance Industries (RIL) helped eight of the top-10 Sensex firms add over Rs 1 lakh crore in their market valuation during the last week, while the state-run MMTC and private telecom services provider Bharti Airtel saw value erosion.
Of the top-10 most valued firms, six lost a combined sum of over Rs 68,000 crore from their market capitalisation last week, while the rest including the country"s most valued firm Reliance Industries (RIL) and oil major ONGC saw rise in their valuation.
Of the 80 blocks offered, only 44 attracted bids
The Prime Minister’s Office (PMO) has asked for comments from the petroleum ministry on Anil Ambani’s letter, wherein he accused the ministry of siding with estranged brother Mukesh Ambani’s Reliance Industries Ltd (RIL) in an ongoing gas dispute.
Sunanda K Datta-Ray / New Delhi November 21, 2009, 0:08 IST
The Finance Ministry today hinted that stimulus packages given to the industry may be rolled back, saying too much stimulus could be injurious when the economy is on a revival mode.
On January 7, Ramalinga Raju confessed to his monumental fraud. He had, Raju said in a letter to the stock exchanges, cooked Satyam’s books for seven long years — revenue, profit, bank balance et al. Raju was soon arrested and put in the Chanchalguda prison. The Union government swung into action. A board was appointed to manage the affairs of the company. In a matter of months, Satyam was sold to Tech Mahindra.