Tata Realty and Infrastructure Ltd (TRIL), a 100 per cent subsidiary of Tata Sons Ltd, will invest Rs 3,500 crore in setting up an information technology (IT) Special Economic Zone (SEZ) at Taramani, Chennai. The project will have both commercial and residential projects.
India, the biggest vegetable oils buyer after China, may import record volumes for a second year after a drought in almost half the country damaged oilseed crops, a processors’ group said.
Primary articles, especially food items, pushed the headline inflation rate, as measured by the wholesale price index (WPI), into positive territory at 0.12 per cent for the week ended September 5, after staying in the negative for 13 weeks.
Volatility in share price of a company is inversely proportional to the grade assigned to its initial public offer, as firms with high grade show relatively less fluctuations in share prices, a study said.
Members in the Rajya Sabha today took strong exception to halting of work at Ladakh border road because of Chinese objection and said it was "humiliating" and a "challenge to India"s sovereignty". Raising the issue in Zero Hour, Shreegopal Vyas (BJP) said, "It is very humiliating and a challenge to India"s sovereignty."
In a mega-expansion spree, Dalmia group"s home decor retail chain, Rosebys, plans to rollout 500-700-stores across the country over the next 3-5 years.
The International Monetary Fund (IMF) has raised its growth forecast for the Japanese economy to 1.7 per cent for 2010, but has warned of an "uncertain" economic outlook.
The ratio of volatile capital flows, consisting of cumulative portfolio investments and short-term debt, to India’s foreign exchange reserve moved up to 51.1 per cent at March 2009-end from 45.4 per cent a year ago.
The country"s largest liquefied natural gas importer, Petronet LNG Ltd, may come out with a $100 million follow-up public offer or a rights issue in 2011-12 to part fund a 1,200-Mw power plant, to be set up at Dahej in Gujarat.
Yemen has sought an increase in Indian investments in the areas of trade, especially in industrial, fishery, tourist sectors.
Essar Oil net zooms 450%
Natarajan Chandrasekaran (called Chandra by colleagues and friends) will take charge as the managing director and chief executive officer (MD & CEO) of India’s largest information technology services provider, Tata Consultancy Services (TCS), from S Ramadorai tomorrow. He’s the third in the line of TCS’ CEOs, after F C Kohli and Ramadorai.
The Sensex ended the holiday-shortened week by gaining 442 points due to the prevailing positive sentiment. While the index touched a fresh 16-month high of 17,196, it also reclaimed the 17,000-mark for two consecutive days on a closing basis. It finally ended the three-day week at 17,135.
Apparel chain Koutons Retail India today said its net profit rose by 18.63 per cent to Rs 15.79 crore in the third quarter ended December 31, 2009 over the same period last fiscal.
After making three futile attempts to sell the controversial Crystal IT park, the only IT-specific SEZ in Madhya Pradesh, the state government has again invited tenders for a co-developer.
India"s second largest lender, ICICI Bank, has seen growth returning in its home and auto loans portfolios in the second quarter on the back of improving sentiments in the credit market, its chief said.
General Electric (GE), which is in contention as the engine supplier for the medium multi-role combat aircraft (MMRCA) contract of the IAF with three of its engines, is keen on sourcing components from Indian industry.
Abhilasha Ojha / New Delhi September 19, 2009, 0:20 IST
Industrialist Rahul Bajaj today said the government should adopt a carrot and stick policy to bring back Indian money stashed in Swiss banks and suggested that identities of account holders should be protected.
Vedanta Resources Chairman Anil Agarwal today said the company will bid for the Ultra Mega Power Projects (UMPP) and coal blocks as and when the government puts them on auction and added it has plans of Rs 70,000 crore till 2011-12.
The US government is preparing to steer General Motors into bankruptcy as early as the end of next week, a plan which would provide billions of dollars more in federal funds to the ailing auto maker, says a media report.
Social networking, dating and mating portals enter even pets" lives.
Telecom Minister A Raja today said any deviation by lower-rung officers from the government’s policy decision on spectrum allocation would be dealt with.
Chinese Premier Wen Jiabao today assured Prime Minister Manmohan Singh that his country would correct the balance of trade that is currently in its favour.
In line with its plans to bring synergies in operation and to improve cost efficiency, FMCG major Godrej Consumer Products is consolidating three of its businesses, including its joint ventures and the process is going to be completed in the next two-three months.
Russia, the country"s longtime and largest defence partner, appears to be miffed over India working towards sewing up a defence pact with Ukraine.
Hoping to bag environmental clearance by this month end, Gopalpur Ports Ltd (GPL) is confident of converting the minor port in south Orissa into an all weather deep water one within 24 months, two years ahead of the stipulated timeframe.
The Orissa government has asked oil companies to open more LPG outlets by appointing agents in all the 314 blocks of the state, official sources said.
Some important tips for Ulip buyer.
Diversified conglomerate General Electric (GE) will pay a penalty of $50 million to the US market regulator Securities and Exchange Commission (SEC) as part of a settlement related to alleged accounting irregularities.
GVK Power and Infrastructure acquired 12 per cent of Bangalore International Airport for Rs 484.59 crore.
Though the Congress party had allocated Saifuddin Soz a seven-seater helicopter for campaigning in far-flung areas of Jammu & Kashmir, he chose to use road transport. It was only when someone pointed out that the idle chopper was also costing his party a lot that Soz decided to use it to go to Ladakh.
GMR Kamalanga Energy owned by GMR Energy of GMR Group, an infrastructure developer has achieved financial closure for its 1,050 Mw thermal power project being set up at Kamalanga Village, Dhenkanal District in Orissa.
Uncertainty looms large over the Rs 5,000-crore 1050 Mw thermal power project of KVK Nilachal Power (P) Ltd at Kandarei in Cuttack district with the Orissa High Court staying the construction work of the project.
The difficulty in land acquisition is going to seriously affect the industrial sentiment in Orissa. Though the government boasts of attracting investments worth over Rs 6 lakh crore, many projects including those proposed by Posco, Arcelor-Mittal, Tata Steel are hanging in balance due to stiff resistance by the locals.
Debt-ridden Wockhardt today said it has received shareholders" approval for selling its animal healthcare business to France-based Vetoquinol SA.
The stock finally ended at Rs 141, down 2.5%. Over 1.18 shares were traded on the BSE today.
The stock touched a high of Rs 1,374 and finally ended up 2% at Rs 1,342. The counter clocked a comparatively heavy trading volume of 1.18 million shares as against the two-week daily traded average of 8,79,982.
California-based BPO and KPO service company, which has operations in Ahmedabad, India and Manila, Philippines, is mulling expansion of its Indian operations in Gujarat by setting up a new service centre. However, the company is considering options among some of the upcoming special economic zones (SEZ) in the state.
After receiving encouraging response from private players in developing a 1,320 Mega Watt Rajpura Thermal Power Project, the Punjab State Electricity Board is expecting to issue a Letter of Intent (LoI) to the successful bidder for this project by the end of this month.
The Indian industry is expecting animation and gaming to gradually evolve into a full-fledged career option among youth, according to K Rajesh Rao, chief executive of Bangalore-based game development company Dhruva Interactive.
ISRO earned over Rs 100 crore in the last three years by launching satellites of other countries, Minister of State in PMO Prithviraj Chavan told the Lok Sabha today.
IT giant Wipro today settled the land issue with the West Bengal government for its second unit near Kolkata and would buy 50 acre at Rs 75 crore.
After the Foreign Investment Promotion Board (FIPB) rejected the proposed defence tie-up between Larsen and Toubro (L&T) and Franco-German aerospace major EADS last week, the companies are discussing a revised proposal, with a new joint venture structure in which the European defence giant would hold 26 per cent stake.
Says industry can’t keep growing at expense of farms, poor.
Come 2010 and the small-car market is likely to witness intense competition with at least four new players set to launch their products in the market.
State"s first medical device manufacturing cluster having a common research and development (R&D) facility in products and human resource development, will come up next to Tata Motors Nano"s plant in Sanand, official said.
Jyoti Basu, the 95-year-old communist, has lost touch with many of his comrades. But this morning the former chief minister of West Bengal did not forget to call his favourite Congressman to say, “Happy Birthday!”
Several complaints had been received about illegal and unlicensed television channels and action had been taken against them, the government today informed the Rajya Sabha.
In view of banks classifying even short-term loans to housing finance companies (HFCs) as priority sector lending, the Reserve bank of India (RBI) has moved to end this practice.
The word ‘Zero’ is usually a bait to lure gullible buyers.
Unity Infraprojects, the construction major, has bagged a contract for re-development of R N Cooper Hospital at Vile-Parle (West), Mumbai from Municipal Corporation of Greater Mumbai.
Mumbai-based Unity Infrastructure posted a 22 per cent jump in its profit after tax (PAT) at Rs 18.75 crore for the September quarter of financial year 2010 as compared to Rs 15.4 crore it posted in the second quarter of last financial year.
As the government mulls hiving off Oil and Natural Gas Corp’s (ONGC’s) Assam oilfields, state-owned Oil India Ltd (OIL) has said it is willing to take over the assets and can run the fields more efficiently than the current owner.
Two Democrat Congressmen today appealed to their colleagues in the US Congress to oppose the Obama Administration"s proposal to fund $108 billion to the International Monetary Fund.
Industry body Nasscom today urged the West Bengal government to allot alternate land to information technology (IT) companies Wipro and Infosys, after the Vedic Village fiasco which led to scrapping of the 600-acre IT project at Rajarhat.
The Indian Broadcasting Foundation (IBF), the apex body of all broadcasters in the country, has urged the government to clear dues worth over Rs 55 crore for airing television commercials of various ministries and departments.
The market is in a short-term downtrend and should find support between 5,000 and 5,050.
Media firm New Delhi Television (NDTV) today said it will buy back NBC Universal"s entire 26 per cent stake in its subsidiary NDTV Networks Plc.
Haryana Chief Minister Bhupinder Singh Hooda would be the Guest of Honour in the Plenary-III Session of Pravasi Bhartiya Divas to be organised by the Ministry of Overseas Indian Affairs, Government of India, and the Confederation of Indian Industries at Vigyan Bhawan in New Delhi.
Customers of Hill County, a Rs 1,100-crore residential project of Maytas Properties, are set to present their case at the Pravasi Bharatiya Divas (PBD) on January 7 for its speedy completion. Maytas Properties, an unlisted company, is owned by the family of Satyam Computer Services’ founder B Ramalinga Raju.
I am 59 years old and wish to retire in February 2010. I want to create a pension fund and also seek regular tax-free returns from mutual funds. I own a house and don"t have any liabilities.
Reliance Industries (RIL) Chairman Mukesh Ambani has decided to take a big pay cut. His pay for 2008-09 has come down by 66 per cent, or nearly two-thirds, to Rs 15 crore from Rs 44 crore in the previous year.
Jaswant Singh / New Delhi August 2, 2009, 0:38 IST
Libyan leader Muammar al-Gaddafi has opposed the induction of big powers into the UN Security Council (UNSC), saying such a move would further tilt the balance of power.
In a major diplomatic embarrassment to India, the maverick Libyan leader Muammar Gaddafi has supported the idea of an "independent state" for Kashmir and said that it should be a "Baathist state" between India and Pakistan.
Railway Minister Mamata Banerjee has taken initiative to ensure that cricket fans in India could watch all Twenty20 ICC World Cup matches in UK which is being telecast on ESPN Star Sports (ESS).
The government has allocated Rs 1,740 crore to expand educational and economic opportunities for the disadvantaged section of the minorities through various schemes, Rajya Sabha was informed today.
It is relevant to understand the background to Budget 2009/10. Hope and despair is how I would describe it. Hope because the government finally had a political mandate, a vote much beyond its own optimistic expectations. “No more excuses” was the Congress’s future. One would now know for sure whether the Communists within the Congress party really held sway over policy decisions. Five years of inactivity can dull anybody, and the Congress was getting geriatric in every possible way. Good men, bad ideas had turned into formerly good men, worse ideas.
The government has moved an application in the Company Law Board (CLB) to recall its nominated directors from the board of Mahindra Satyam, Corporate Affairs Minister Salman Khurshid said on Saturday.
Corporate affairs minister also rules out private sector job quota.
India has contributed 8,607 troops, police and military observers to nine UN Peacekeeping operations this year and has suffered 131 casualties, government today said.
The Centre is examining merging the various food schemes implemented by different ministries as part of an exercise to enact a Food Security Act.
Nokia, the dominant force in the handset industry, has spent the major part of 2009 guarding its turf against resurgent rivals like Samsung, LG, Sony Ericsson and Motorola, and also tech powerhouses like Research in Motion (RIM), Apple and HTC. Additionally, Nokia has also been deflecting blows at the operating system level, most notably from Google’s Android and Microsoft’s Windows Mobile.
To draw international attention on tiger conservation and protection, India will launch the Year of the Tiger on February 14, 2010 next year from Jim Corbett National Park, Environment Minister Jairam Ramesh announced.
Hyderabad-based vaccines and biotherapeutics manufacturer Bharat Biotech International said on Wednesday that its anti-staphylococcal molecule Lysostaphin had secured patent rights in US, Europe, China, Australia and other nations.
Business Standard / New Delhi December 04, 2009, 0:25 IST
Amid reports about Mumbai Police Crime Branch Chief Rakesh Maria"s offer to resign if Home Ministry does not clarify allegations levelled against him by Vinita Kamte, the slain IPS officer Ashok Kamte"s widow today said she stands by each and every word in the book written by her.
M J Antony / New Delhi October 14, 2009, 0:01 IST
In a fallout of the Ruchika molestation case, all complaints received at police stations are to be treated as FIRs, while a move is afoot for automatic revoking of police and gallantry medals awarded to convicted officers.
ICICI Bank today said it has raised $750-million (around Rs 3,465 crore) by issuing five-year bonds at its Bahrain branch.
Unitech Ltd, the country’s second-largest developer, posted a 29 per cent increase in its net profit for the December quarter, on the back of improved home bookings. Unitech registered a consolidated net profit of Rs 176 crore in the quarter, compared to Rs 136 crore in the corresponding quarter the previous year.
The National Highways Authority of India (NHAI), having failed to meet the deadline for awarding 126 projects during the current financial year, has brought down the number of projects to be awarded in the next financial year to 92.
Media and entertainment giant Walt Disney has reported 18 per cent growth in net income at $895 million in the fourth quarter, boosted by strong performance of its network business, including cable channels ESPN and ABC family.
Devika Banerji / New Delhi October 27, 2009, 0:37 IST
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.
A consummate Russian diplomat, Vyacheslav Trubnikov is returning home this week after having served as serving as Russia’s ambassador to India for nearly five years. The period has seen several highs and lows in the bilateral relationship, including the building of the first civil nuclear power plants by Russia and nagging problems over defence spares and equipment. Edited excerpts from an interview with Jyoti Malhotra
US nuclear companies will start cooperating with India under the bilateral Indo-US atomic deal once the issues relating to liability insurance as raised by some American companies are sorted out by the two sides.
US President Barack Obama held his first meeting with Russian Prime Minister Vladimir Putin here today and hoped that talks between them would put bilateral relations "on a much stronger basis".
Soon after the clock strikes midnight, the muddy roads on the Indo-Bangla border, at Sahebkhali in Sunderbans, become busy with trains of cattle being herded on a secret journey culminating in Bangladesh where they will be slaughtered for shipment as processed beef.
Bihar Chief Minister Nitish Kumar today accused the Congress of being "responsible" for the demolition of Babri Masjid in Ayodhya, saying the Liberhan Commission that probed the incident should have indicted the party and its leaders.
Microsoft Windows 7, Adobe, Symantec software stuck at Customs over excise duty
BCCI to partner Google India for the venture.
What does a Taylor guitar worth $3,500 have in common with a pornographic comic-strip Indian bhabhi? The curves, sure, but they both also have songs protesting their mistreatment. In the process, they’ve got the Net buzzing.
In yet another attack on an Indian in Australia, a 29-year-old man was set on fire by a group of four assailants here, drawing strong condemnation from a student body which called such assaults unacceptable and asked authorities not to “dodge” the issue.
Anand Sankar / New Delhi September 8, 2009, 0:08 IST
Americana-on-two-wheels rolls into India. Harley-Davidson is here KYLE PEREIRA
Govindraj Ethiraj / Mumbai June 9, 2009, 0:40 IST
The National Textile Corporation (NTC) has begun talks with the National Buildings Construction Corporation (NBCC) and others for sale of its surplus land in four cities that is expected to fetch the state-owned firm Rs 5,000 crore.
Reliance Industries (RIL), India’s largest private sector company by market capitalisation, plans to offload a part of its treasury stock, held through the Petroleum Trust, which is controlled by the promoters.
PHD Chambers: No big-ticket reforms
- Getting rid of government controls - For the risk-takers - High on expectations - Commodity to the rescue - Policy to guide infra growth - Betting on bonds
The International Atomic Energy Agency (IAEA) today formally appointed Yukiya Amano of Japan as its new director general from December 1, succeeding Mohamed ElBaradei.
Four public sector giants — ONGC, Steel Authority of India Ltd (SAIL), Indian Oil Corp (IOC) and National Thermal Power Corp (NTPC) — were likely to get in next ten days the Maharatna status, which would empower these Public Sector Undertakings (PSUs) with greater autonomy, a top government official said today.
Investment proposals of more than Rs 73,000 crore in steel, aluminium and power sectors are awaiting approval of the chief minister Naveen Patnaik.
The Orissa government today approved an amendment to the Orissa Development Authority Act and Orissa Town Planning and Improvement Act, reducing the stamp duty in urban areas to 5 percent from 8 percent at present and waiving the collection of additional 3 percent as town area surcharge.
Business Standard / New Delhi September 18, 2009, 0:34 IST
Finance Minister Pranab Mukherjee is used to industry chambers asking for all manner of sops in the run-up to the Budget, so Assocham’s latest pre-Budget request has to come as a big surprise. Assocham has asked that he bring in medical and educational institutions under the ambit of the tax system.
Pearson, the British-based education and education technology company, which recently picked up a stake worth $30 million (around Rs 150 crore) in Educomp Solutions’ vocational business and online tutoring firm, TutorVista, is leveraging these tie-ups to increase its India footprint.
The apex body of IT software and services, Nasscom, today lowered its forecast for the animation and gaming industry for 2012 on account of the global economic downturn.
News Corp Chairman Rupert Murdoch, who began building his media group with the Adelaide News in 1953, said he’d like one of his children to succeed him, amid regular discussions about who will take over at the US company.
With the last two stimulus packages working wonders for the packaged goods industry, players in the sector are now rooting for one more round of fiscal incentives to further boost demand in the domestic rural markets and be competitive overseas. They are hopeful the new government will meet their major demands in this Budget session.
Asian markets: Asian stocks have had a rough week. Excluding Japan, markets have fallen by 7 per cent. The decline is both bad and good news for governments and central bankers.
Castigated by CAG for stepping away from protocol in releasing over Rs 50,000 crore meant for welfare schemes, the government is proposing electronic surveillance of flow of funds earmarked for flagship schemes.
The Tamil Nadu government has sought an additional Rs 461 crore from the railway ministry for speedy completion of projects in the state.
With a view to providing domestic fuel to the power projects run by the State PSUs, Gujarat government has resolved to reserve additional area having lignite resources for public sector companies of Gujarat government and for power generation joint venture with state utilities.
Exporters today welcomed RBI"s proposal to shift to the base rate system for pricing of loans, saying the move would help in raising competitiveness of Indian goods in international markets by 3 to 4 per cent.
In a surprise move, ABG Shipyard today exited the race to acquire Great Offshore and sold its 8.2 per cent stake to three financial investors. The ABG moves comes after seven months of intense rivalry with Bharati Shipyard through a series of competitive counter-bids.
ABG Shipyard, which is locked in a take-over battle for Great Offshore with Bharati Shipyard, today backed out of the race by selling 8.27 per cent stake in the offshore drilling firm, a day after its rival raised the open offer price to Rs 590 per share.
For the first time since its launch four months ago, the market share of Microsoft"s search engine Bing slipped in September while that of its rival Google rose.
Software giant Microsoft"s representatives will soon meet Finance Ministry officials trying to persuade them to impose excise or countervailing duty instead of service tax on packaged software.
IBM today said it has entered into a 10-year strategic outsourcing deal of over Rs 80 crore with the Gujarat Cooperative Milk Marketing Federation (Amul).
Amul is overhauling its branding and distribution strategy to keep pace with the changing times.
Tata Steel has ended at Rs 568, higher by Rs 11 or 2.1%, on the BSE. The stock opened at Rs 555, which was also the day"s low, and a high of Rs 570 during the day.
Business Standard / New Delhi August 12, 2009, 0:52 IST
Following the directive of the Allahabad High Court, the Uttar Pradesh government today said the Ganga Expressway would be constructed according to the recommendations of the Ganga Flood Control Authority (GFCA).
Anil Ambani group today questioned Mukesh Ambani-led RIL"s explanation on over three-fold jump in costs to $8.83 billion for developing gas fields, and asked the government to expedite the CAG audit and appoint an international expert to revalidate the expenses.
The government today imposed stock limit on bulk sugar consumers, allowing them to keep quantities sufficient for only 15 days of their consumption at any point of time. The stock limit would be in force for six months and would be applicable to consumers whose monthly sugar consumption is at least one tonne, the government said in a statement. The move will affect confectioneries, large biscuit and beverage producing units.
As vast parts of the country reel from the effects of a drought, the second UPA government will unveil a mega expansion of its flagship National Rural Employment Guarantee Scheme (NREGS) on August 20, which coincides with late prime minister Rajiv Gandhi’s birth anniversary.
BJP President Rajnath Singh today said the UPA government should not put the onus of fighting price rise and drought-like conditions prevailing in the country on the state governments as the latter had limited resources.
Unhappy with the way the National Rural Health Mission has been implemented by states, Union Health Minister Ghulam Nabi Azad has said the flagship scheme was not going in the right direction and the state governments should equally "share the burden".
Driven by robust growth in its India business, beverages major PepsiCo today reported a 9 per cent jump in net income to $1.71 billion in the third quarter ended on September 5, 2009.
India’s current account deficit (CAD) for the second quarter ended September 2009 was almost flat at $12.6 billion, compared to $ 12.57 billion in the same quarter in 2008, on lower net invisible surplus.
Largest such issue in two years; equity dilution pulls down firm’s domestic stock 6 per cent
The solution to the protracted gas supply dispute between the two Ambani brothers that has reached the Supreme Court may come through a compromise, some analysts said, fearing that the row could well impact the stock prices of group companies of both.
Healthy demand outlook and partial improvement in prices have perked up sentiment towards cement stocks.
While HCL Tech’s recent performance beat estimates, a soft demand outlook and a spike in stock price means that the scrip is fairly valued
The BPO arm of Mahindra Satyam seems to be on a hiring spree with plans to recruit additional 300 persons by next month even as the parent is rationalising its headcount.
Board, audit panel to meet on September 4.
ICICI Bank on Friday said it could make initial public offerings (IPO) in four subsidiaries or sell stake in its insurance ventures after the sectoral foreign direct investment (FDI) limit was raised.
Jaimini Bhagwati / August 21, 2009, 0:43 IST
The government today said it will soon introduce a Bill to enact a Food Security law that will provide 25 kg of rice and/or wheat at Rs 3 to each family below the poverty line - a key poll promise of the Congress that heads the ruling coalition.
The Canadian Chamber of Commerce has asked the Indian government to bring a new mining policy to attract foreign direct investment in the sector.
Advocating a separate central policy for the Himalayan states, Uttarakhand Chief Minister R P Nishank today sought a special compensatory package from the Centre for preserving natural wealth of the hill state.
The Planning Commission approved the annual plan outlay for Uttarakhand for the year 2009-10 at Rs 5,574.7 crore.
With a piece of land at the Haridwar industrial plant of Hero Honda becoming a bone of contention with the State Infrastructure and Industrial Development Corporation of Uttarakhand Ltd (Sidcul), the company has begun talks with the state government over the issue.
Despite the global economic slowdown, State Bank of India (Canada), a subsidiary of SBI, saw an overall business growth of 22 per cent in July 2008 to June 2009, although its profit slightly went down, a top bank official said here on Thursday.
Dish TV has advanced nearly 2% to Rs 44. The stock has touched a high of Rs 45 and a low of Rs 43 during the day. The counter saw trades of 2.56 million shares as against its two-week average quantity of 3.8 million.
The government will hold the much-awaited 3G spectrum auction for GSM operators on December 7 and invite bids from October 26 to November 13.
Public sector lender IDBI Bank expects government"s decision on the sale of its Pune-based home loan subsidiary -- IDBI Home Finance (IHFL) -- in the next three months, a top official said.
Entrepreneurs in this traditional town of family- managed companies, popularly known as the Manchester of south India, are now more open to entering into equity collaborations with both domestic and international partners.
The stock market staged a remarkable comeback, thanks mainly to the improvement in global markets coupled with better-than-expected Q1 numbers so far. So ferocious was the pullback that major indices, the Sensex and the Nifty, recovered nearly all its losses suffered during the Budget week.
Back in prehistory, that is, about three decades ago, when Kolkata thoroughly drowned in the monsoon deluge, we looked forward to sarat or autumn. The rains would be gone, the heat would be a bit less though the oppressive humidity would still be around, but that’s not what mattered. The special part was the sky at dusk. The grey of the monsoon clouds, still lingering, would be tinted pink and purple by the setting sun and create a riot of colours. And through this sky would pass large flocks of birds in a V formation.
- Subir Roy: A nation in the making">Subir Roy: A nation in the making - Subir Roy: Do as Europe has done">Subir Roy: Do as Europe has done - Subir Roy: Redraw your street">Subir Roy: Redraw your street - Subir Roy: Dogs will be dogs">Subir Roy: Dogs will be dogs - Subir Roy: A homestead in the heart of town">Subir Roy: A homestead in the heart of town - Subir Roy: Living together separately">Subir Roy: Living together separately
The Opposition on Thursday lambasted the telecom ministry, alleging that the 2G spectrum allocation to mobile operators resulted in a loss Rs 60,000 crore to the exchequer, a charge rejected by the government. Leader of Opposition Arun Jaitley said in the Rajya Sabha that the difference in the valuation of spectrum awarded by the government in 2007 to private players and the value realised in transaction with foreign companies in each case had been minimum Rs 6,000-7,000 crore.
PowerGrid Corporation is seeking loans of Rs 8,750 crore from the World Bank and the Asian Development Bank (ADB) to fund upcoming transmission projects in the country.
The teaser home loan rate, the interest rate which is set artificially low for the initial period, could give a ‘payment shock’ to borrowers as the equated monthly installment (EMI) shot up on lenders charging regular interest rates, according to Fitch officials.