Corporate
The stock pared all its gains and finally ended flat at Rs 1,341. The counter clocked volumes of 79,706 shares as compared to the two-week daily average traded volumes of 90,915 shares on the BSE.
German commercial vehicle maker Daimler today said it would introduce lightweight trucks from Mitsubishi Fuso stable in the Indian market by 2010 as part of its expansion strategy in the country"s auto mart.
Bhushan Steel (Australia)’s acquisition of Australian coal and mineral exploration company, Bowen Energy, has hit the Australian Takeovers Panel hurdle, with the board ordering a re-valuation of the coal tenements held by Bowen.
Business Standard / New Delhi October 09, 2009, 0:10 IST
The country"s largest coal producer, Coal India, today said 52 global companies have expressed interest in partnering with it for acquiring mines overseas, especially in Australia, Mozambique and Indonesia.
Victorian premier John Brumby, who is currently on a visit to India, has been criticised by the opposition party in Australia for failing to raise the case of an Indian fugitive during his trip.
Gammon Infrastructure Projects has acquired 22.8 million shares of Vizag Seaport (VSPL) increasing its stake in the firm to 73.76 per cent and made it a subsidiary of the company.
Media and entertainment firm UTV Software Communications today said it would raise $150 million (nearly Rs 750 crore) through various channels to meet its growth plans and retire debt.
UTV Motion Pictures, an arm of UTV Software Communications, has signed a series of non-exclusive television rights syndication deals amounting to Rs 95 crore. The deals are across their slate of 2008 and 2009 productions, from Oye Lucky! Lucky Oye! and Dev D to recent hits like Kaminey, Wake Up Sid and Kurbaan.
When the IIMs decided to award the contract to Prometric for conducting the Common Admission Test (CAT) online, and Pearson bringing its assessment brand to India, it must have been a wake up call for MeritTrac, a large assessment company. But, the company is not losing sleep.
Scientists have created visual systems which they claim would help unmanned aircraft see for themselves as they fly fast and low over dangerous terrain.
The markets lost ground on Tuesday, after touching a one-month high, due to subdued global cues and nervousness surrounding the derivatives expiry.
Jet Airways, Kingfisher Airlines and SpiceJet today announced a hike in fuel surcharge by up to Rs 200 on their domestic flights. It translates into a maximum hike of up to 7.5 per cent on existing average fares.
United Breweries (UBL), India"s largest brewery controlled by Indian billionaire Vijay Mallya, has posted a strong 57 per cent increase in net profit to Rs 35.5 crore for the first quarter of current fiscal as against the corresponding period of last fiscal. Net sales at Rs 556.4 crore was up 17 per cent, powered by a 25 per cent growth in strong beer.
Vijay Mallya-owned Kingfisher Airlines owes over Rs 950 crore to state-run oil companies in unpaid jet fuel bills, Petroleum Minister Murli Deora said today.
The government has cleared a Rs 11,000-crore foreign direct investment (FDI) proposal of French tyre giant Michelin to set up a manufacturing facility in Tamil Nadu.
The Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce has called a meeting on July 10 to discuss the foreign direct investment (FDI) policy in the cigarette industry.
Kolkata-based Jai Balaji Industries has raised Rs 198.50 crore through a qualified institutional placement (QIP) issue.
The government today said it has penalised Kingfisher Airlines with a fine of over Rs 26 crore for delay in the payment of tax deduction at source (TDS).
Operational cost of Kingfisher Airlines is among the lowest in the country and is comparable to that of budget airlines like SpiceJet, airline"s chief Vijay Mallya has said.
Mangalore Chemicals and Fertilizers Limited (MCF), a UB Group company and manufacturer of fertiliser, is planning to expand its specialty fertiliser business in the next couple of years. The company, which has over 50 new generation fertiliser products in its basket, plans to expand the business through its integrated nutrient management division, set up four years ago.
Enthused by a 12 per cent growth in traffic in contrast to a decline in the aviation industry, the new CEO of SpiceJet Sanjay Aggarwal has said he would transform the airline from a casual business entity to a professionally-run company within a year.
Sohini Das / Mumbai December 15, 2009, 0:33 IST
The country"s biggest two-wheeler maker Hero Honda Motors today reported 74.05 per cent jump in its sales in December 2009 at 3,75,838 units as against 2,15,931 units in the same month last year.
With the government having finally admitted that the current Plan period’s power capacity addition target of 78,700 Mw is likely to be missed by over 20 per cent, experts have raised concerns over the impact on the country’s economic growth.
Hiring activity is likely to see an upward trend in the third quarter of the current fiscal year, especially in sectors like infrastructure, manufacturing and services other than IT.
Eicher Motors Group company Royal Enfield today launched two bikes, Classic 350 and Classic 500, priced at Rs 98,086 and Rs 1.25 lakh (ex-showroom Delhi) respectively.
I am a first time buyer of a four wheeler. I don’t change my vehicles often and plan on using my next acquisition for the next 12 to 15 years. I have shortlisted the Chevrolet Spark LT, Hyundai Santro Xing GLS, and Maruti Suzuki Zen Estilo LXI.
Chennai-based TVS Motor today said it might venture into the above-200cc segment in the bikes market as it looked to increase its footprint in the two-wheeler business.
The stock gained 3 per cent to Rs 525.60, after the company successfully raised Rs 73 crore by private placement of shares with qualified institutional buyers. The board of directors had allotted 1.45 million equity shares at Rs 506 per share, including premium of Rs 496 per equity share.
Finance Minister Pranab Mulkerjee today said a balance has to be stuck on the issue of continuity of the stimulus packages.
After developing the electric version of its flagship passenger car Indica, country"s largest auto maker Tata Motors is now working on hybrid city buses aimed at providing eco-friendly transportation solutions for Indian cities.
Japanese auto maker Honda today said it will hold the world premiere of the concept model of a new small car that has been developed keeping the Indian market in focus at the Auto Expo here next month.
The 26/11 terror trial is not only against Pakistani gunman Ajmal Kasab, who was caught alive, but also against terror organisation Lashkar-e-Taiba, which masterminded the Mumbai attacks, Special Public Prosecutor Ujjwal Nikam said here today.
This is one luxury Bangalore can afford not to have. The city is set to add the highest number of “keys” in the upscale rooms category at a time when demand is not so certain.
The FBI has charged a further 14 people, including two Indians and Wall Street professionals, in a widening $53 million insider trading scam, the largest ever such case in the United States.
Even as IT bellwether Cognizant Technology Solutions raised its outlook for 2009-10, it reported a 21 per cent growth in net profit for the quarter ended September 30, 2009, to $136.6 million compared with $112.8 million during the corresponding period a year ago.
US network equipment major Cisco will be acquiring Norway-based video communications entity Tandberg in an all cash deal worth $3 billion.
Jyoti Parikh & Kirit Parikh / New Delhi November 22, 2009, 0:08 IST
The area under wheat rose a marginal 2 per cent this year on favourable climatic conditions. Late monsoon left adequate moisture content in the soil that suited the wheat sowing for this rabi season.
Ending months of uncertainty over their joint project to make an ultra-low-cost car, Bajaj Auto and Renault-Nissan have signed an agreement delineating their roles and fixing 2012 as the year when the car will hit the market.
Rajesh Bhayani / Mumbai January 5, 2010, 0:06 IST
A low-cost diagnostic tool kit that can detect the swine flu virus in just five minutes is being developed by the Indian Council for Medical Research, a top official has said.
Realising the enormous business potentials of Commonwealth Games 2010 in Delhi, Birmingham City is keen to further the trade ties with India through the mega-sporting event.
A consortium of Indian and Abu Dhabi investors, which is believed to include steel czar Lakshmi Mittal, is planning to bid for UK property company British Land, says a media report.
fashion designer Wendell Rodricks, in his activist avatar, keeps the goan cause afloat.
With an average internet connection speed of 1,100 Kbps for the second quarter of 2009, Karnataka has been ranked second in a study of the top 10 Indian states for their average connection speeds. The state has recorded a 32 per cent increase in the average connection speed over last year.
With the spending on software products taking a hit owing to the recessionary trend in the global market, Aditi Technologies, an outsourced product development (OPD) firms in India, is shifting its strategy by offering software services to the companies in the financial services sector.
Global rating agency Standard & Poor"s (S&P) today assigned its "BBB" corporate credit rating to Wipro Ltd, the country"s third largest software exporter, implying better financial health and cost efficiency.
Indian business spreads its footprint across the globe.
At least 60 crore people would get their Unique Identification Numbers (UIDs), a much-touted initiative of the government, in the next 4-5 years, its project chief Nandan Nilekani said today.
India may soon ban import of ‘Made in China’ mobile phones that lack the unique IMEI number, which helps authorities track people carrying these devices. Mobiles phones without the International Mobile Equipment Identity (IMEI) number are considered a grave security threat and concerns had been raised over their usage after terrorist attacks, like the one in Mumbai in November last year. IMEI is a 15-digit code which appears on the operator’s network whenever a call is made.
With the Indian economy showing signs of leaving the recession behind, companies from the US are once again making a beeline to the India shores scouting for opportunities. Companies from varied sectors are looking to test the waters with an investment in mind at a later stage. “Last year, things were rocky and very few trade delegations came to India. However in the last one and half months, things have turned around,”said Sandeep Mehra, committee member, Indo American Chamber of Commerce (IACC), Karnataka branch.
The Advocates Association of Bangalore today demanded the transfer of Karnataka High Court chief justice P D Dinakaran who faces an impeachment motion for alleged disproportionate assets and land-grabbing.
The stock erased all its gains and ended flat at Rs 450. The counter clocked volumes of 621 shares as compared to the two-week daily average traded volumes of 278 shares on the BSE.
Car maker Maruti Suzuki India Ltd today reported a 41.56 per cent jump in sales for August at 84,808 units.
Carmaker Fiat India Automobiles today said it will consider raising prices of its products as the margins are under pressure.
With the country’s capacity to manufacture medicines at competitive prices and drugs worth $80 million going off-patents soon, there is a big opportunity for investment in the drug manufacturing sector, Health Minister Ghulam Nabi Azad said today.
The government today said it will soon come out with a uniform and single licence fee for telecom service provider, which is currently between 6 and 10 per cent of the revenue of these companies.
Roads construction in the country would require an investment of about Rs 3.5 lakh crore in the next three years, Transport Minister Kamal Nath said today.
Raj Oil Mills finally settled at Rs 118 on the BSE today. The debutant touched an intra-day high of Rs 133, up 6.5% from its opening. The counter clocked a volume of over 17.3 million shares on the first day.
The outgoing president of SIAM Ravi Kant today called for a need to continue government -industry partnership to ensure investments in the sector are used productively.
Buoyed by healthy growth in the first quarter, public sector Corporation Bank today said it expects its total business to cross Rs 1,50,000-crore mark during the current fiscal.
The sugarcane growers of Uttar Pradesh have declined the state government’s offer of selling their produce at Rs 160-170 a quintal, a rate less than what their counterparts in Uttarakhand are getting.
Business Standard / New Delhi September 24, 2009, 0:57 IST
Sugar prices, already at record highs, are set to rise further. The food ministry has decided to raise the levy price at which it buys sugar from mills to supply the public distribution system (PDS) by 50 per cent in Maharashtra and 63 per cent in Uttar Pradesh (UP) for the new sugar season starting next month. The two states account for 55 per cent of India’s sugar output. Prices have also been revised for other sugar purchasing states.
Riding on all-time high realisation and a sharp jump in profitability, domestic sugar companies are looking to strengthen their balance sheet by reducing debt. Prices are at an all-time high and companies expect it to remain firm for at least the next four-five quarters.
Bajaj Hindusthan today announced its third quarter results. The company has posted a net profit of Rs 60.08 crore for the third quarter ended June 30, 2009 as compared to a loss of Rs 35.41 crore during the corresponding quarter last year.
Siemens closed at Rs 571, down by 2.5% or Rs 14 on the BSE. The stock opened at Rs 590 and touched a high of Rs 605 and a low of Rs 565 during the day. A total of 272,659 shares were traded on the BSE as against the 2-week average of 109,271 shares.
Swiss banking major UBS today said it aims to achieve the target of about 15 billion Swiss francs (around $14.7 billion) pre-tax profits per year over the next three to five years.
With the revival of the job market India Inc is all set to witness a significant jump in attrition levels as well, especially in sectors like aviation, information technology and business process outsourcing, executives search firm GlobalHunt India said today.
Business Standard / New Delhi January 1, 2010, 0:28 IST
Singapore"s leading telecom firm SingTel today said contribution of Bharti Airtel, in which the company holds nearly 32 per cent stake, to its profit rose by 26 per cent to 236 million Singapore dollars (around $170 million) for the July-September quarter.
Amid the raging controversy over the issue of bankers bonus, the Royal Bank of Scotland (RBS) has asserted that its ability to give competitive pay to the staff is essential for the company"s success.
The BJP today appointed its senior leader Arun Jaitley as the Leader of the Opposition in the Upper House and Sushma Swaraj Deputy Leader of the Opposition in the Lok Sabha.
The British government is planning to pump in an additional capital of up to 19 billion pound into the Royal Bank of Scotland (RBS) and hike its stake to as much as 84 per cent, a move that would virtually nationalise the bank.
An alliance between Congress and JVM appears almost certain for the Assembly elections in Jharkhand later this month and in December.
Is it just a means to retain his sprawling bungalow on Janpath, or is it part of a larger game plan? Whatever, for now Lok Janshakti Party chief Ram Vilas Paswan, who keeps getting a notice to vacate his bungalow since he is no longer an MP, is going to stand for a Rajya Sabha seat with the support of Rashtriya Janata Dal chief Lalu Prasad. Prasad hopes to exploit Paswan’s Dalit appeal — interestingly, the Congress party also plans to support Paswan for the same reason.
The stock touched a high of Rs 233 and finally settled 4% higher at Rs 228. The counter clocked volumes of 1.93 million shares on the BSE.
Sidhartha / Mumbai October 28, 2009, 0:06 IST
Sreelatha Menon / New Delhi October 27, 2009, 0:11 IST
Driving consumption among middle and lower income consumers, collaboration between retailers and suppliers, understanding consumers is the mantra to grow modern retail in the coming days as the sector comes out of slowdown blues, say fast moving consumer companies (FMCG) and organised retail chains.
IDBI Bank has taken an initiative to strengthen its base in the mid-corporate, SME and retail sectors without compromising its pre-eminent position in the corporate banking business.
Public sector lender Bank of Maharashtra"s net profit for the July-September quarter stood at Rs 86.68 crore, up 22.86 per cent against Rs 70.55 crore reported over the same period a year back.
The banking stocks continue to rule high on the back of stimulus measures by the Reserve Bank of India that helped revival of economic growth and attraction of foreign funds. Key economic data like the recent Index of Industrial Production (IIP) indicated likely swift recovery of the economy. Factory output at 10.4% in August registered the highest growth rate in 22 months.
ICICI Bank today said it would reduce its stake in BPO company Firstsource in a phased manner, even as there are reports of appointment of a merchant banker for exiting from the outsourcing company.
Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the food price inflation would come down by the end of the current fiscal.
BS Reporter / Mumbai July 05, 2009, 0:42 IST
I have invested Rs 1 lakh in Reliance Diversified Power Sector Fund. Its value has come down to Rs 74,000. What is the future outlook of this fund? Should I stay invested or redeem?
Arnav Pandya / Mumbai September 27, 2009, 0:28 IST
Significant inflows into income plans and liquid funds boosted net assets of domestic mutual funds in July, according to data posted by Securities and Exchange Board of India (Sebi) on its website.
Over the past two decades, India is being viewed as one of the premier destinations for the global foreign direct investments. These investments have been the major supplement of the growth story of the country, particularly in the areas of infrastructure, information technology and power.
Powering its way ahead in tapping renewable energy sources for power generation, public sector power utility NTPC (formerly National Thermal Power Corporation) has set the ball rolling for its two solar thermal units of 50 Mw each in Gujarat. The company has firmed up its plans to initially install a solar power generation capacity of 100 Mw in the state, which may go up to 300 Mw at a later stage.
The government has asked the Serious Fraud Investigation Office (SFIO) to discontinue its enquiry into the siphoning of funds by Satyam Computer to avoid duplication of work as the CBI is trailing the funds parked abroad by the IT company.
Mukul Pal / August 17, 2009, 0:43 IST
Sanjaya Baru / New Delhi November 4, 2009, 0:58 IST
Finance Minister Pranab Mukherjee today signalled that the government’s economic reform strategy would focus on fiscal consolidation, debt management and mobilising additional resources through disinvestment proceeds. The emphasis would be on curbing subsidies and promoting private sector investment by continuing stimulus measures.
Facing a fiscal deficit of 6.8 per cent of Gross Domestic Product for the current financial year, the government is likely to delay for a year or two the National Investment Fund (NIF), a move that will enable it to keep disinvestment proceeds in the Consolidated Fund of India (CFI).
India"s fiscal deficit touched 45.5 per cent of the full-year estimate in the first five months of the current fiscal.
Price may be raised to Rs 4,250 per mBtu.
Amid the economic downturn impacting companies worldwide, India Inc remains cautiously optimistic with just 16 per cent firms freezing salaries and as low as 6 per cent reducing pays for 2009-10, a survey by HR consultancy Hewitt Associates says.
Responding to banks’ petitions, the Reserve Bank of India (RBI) has raised the transaction limit for mobile banking to Rs 50,0000 a day.
Business Standard / New Delhi December 21, 2009, 0:39 IST
Over 3000 Indian Institute of Technology (IIT) alumni from across the world will gather near here to participate in a global conference on technology and innovation that would be attended by President Barack Obama"s Chief Technology Officer Aneesh Chopra.
Market regulator Securities and Exchange Board of India (Sebi) has asked the government to consider appropriate action against Reliance Industries (RIL) for allegedly routing funds to dummy companies for buying large quantity of its shares in the year 2000.
Your tax burden has just gone up, with the government today issuing the new guidelines for taxation of perquisities. In fact, it could be a double whammy, as you have to pay the additional tax liability for the whole of this financial year over the next three months.
Sunil Jain / New Delhi January 01, 2010, 0:35 IST
Car maker Honda Siel Cars India today said it has entered into a Memorandum of Understanding with private lender Axis Bank for vehicle finance.
The Reserve Bank today said it will ask banks to furnish details regarding their exposure in the Dubai World, a government-owned firm that has requested postponement of $59 billion loan repayment, said RBI deputygovernor Shyamala Gopinath here.
Latha Jishnu / New Delhi December 10, 2009, 0:10 IST
The Dow Jones Industrial Average ended flat at 10,466 and the Nasdaq Composite Index added 0.75% to 2,270, respectively.
Oil and Natural Gas Corp (ONGC) today lost a bid to acquire a large oilfield in Iraq to a consortium of Chinese, Malaysian and French energy firms.
ONGC Videsh (OVL), the overseas arm of ONGC, has entered into a memorandum of understanding (MoU) with Sistema, a diversified industrial group of Russia having investment in India’s telecom sector, to jointly acquire and develop oil and gas fields in Russia and other CIS countries.
US fund house TIAA-CREF has exited Oil and Natural Gas Corp (ONGC) and other Chinese energy firms over their investments in war-torn Sudan, but the Indian company said its operations did not support suppressive activities anywhere in the world.
State-run Oil and Natural Gas Corporation (ONGC) has lost an oilfield in Algeria to a consortium led by a Chinese oil firm. ONGC teamed up with Turkish Petroleum Corp (TPAO) and the United Arab Emirates’ (UAE’s) Dana Gas to bid for the hotly-contested Hassi Bir Rekaiz acreage in Algeria’s latest licensing round, sources said. It lost to a consortium of China National Offshore Oil Corp (CNOOC) and Thailand’s PTTEP.
The tug-of-war between the Centre and the Uttar Pradesh government on sugarcane prices refuses to end with Chief Minister Mayawati asking Prime Minister Manmohan Singh to review a recent Cabinet decision that requires states to pay the difference between the central government-announced fair and remunerative price (FRP) and the state-advised price (SAP).
The Union Cabinet today approved additional fund for the expeditious completion of capital"s infrastructure for the 2010 Commonwealth Games.
Joe C Mathew / New Delhi September 16, 2009, 0:45 IST
Drug maker Wockhardt today said its shareholders have approved sale of Mother and Child Care and Nutriuno businesses to Abbott Healthcare for Rs 281.6 crore.
The Confederation of Indian Industry (CII) has called for efforts by both developing and developed nations to intensify efforts for developing a low carbon economy in the backdrop of the Copenhagen climate change summit. Developing countries such as India have a responsibility to their citizens to grow rapidly to meet and exceed the UN Millennium goals. This growth can be consistent with reducing carbon intensity in their economies.
Diversified business house Hero Group has shelved plans to enter the commercial vehicle (CV )segment, for which it had partnered German firm Daimler to produce trucks, due to the economic slowdown.
The need of the hour is to create meritorious uses of natural gas, such as by building new capacities.
Union minister for New and Renewable Energy, Dr Farooq Abdullah today said that India was planning a major thrust in sphere of renewable energy sourcese, especially solar and wind energy.
Maruti Suzuki, the country’s largest manufacturer of cars, is also quite cash-healthy, markedly so in comparison to many of its competitors.
The Prime Minister"s Task Force on micro, small and medium enterprises will meet here on Saturday to finalise its recommendations for the upliftment of the sector employing 42 million people.
The Foreign Institutional Investors (FIIs) were net buyers of Rs 647.45 crore in futures and options segments on Friday.
With the government increasing expenditure on payments to contractors for projects, its balances with RBI fell by Rs 16,346 crore in the week ended January 1.
Millions of fans of Hindi movies will soon be able to watch their favourite Bollywood films in multiplexes, with highly-placed sources in the film production and exhibition business saying a resolution is expected before June 12 to the two-month dispute over revenue-sharing between producers, distributors and multiplex owners.
The US Treasury has received $45 billion from Citigroup and Wells Fargo as repayment of loans which the Obama administration had given to the two American banking giants to help them recover from financial crisis.
Over 27 per cent of the population in the country were living below poverty line during 2004-05, government said today.
With the PE ratio up three times since November last year, valuations are far from cheap.
Learn lessons from Jharkhand
Haryana Finance Minister Capt Ajay Singh Yadav has directed the financial commissioner and principal secretary, urban local bodies, that the matter could be taken with the Government of India to increase the allocations under JNNURM and Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSSMT). The finance minister was reviewing the progress of central sponsored schemes with the officers of finance, public health and urban local bodies department. These schemes were being launched in the state for the welfare of all sections of society.
Refraining from making any comment on the Shahrukh Khan detention episode, the Obama Administration today said it wants to build better relationship with the Muslim world.
Some time in the summer of 1997, LG had thrown a party in Delhi. The Korean chaebol had set up shop in the country and was in a mood to celebrate. It had earlier joined hands with C K Birla but the joint venture fell through even before it could start. Globally, it had gone through a brand makeover from Lucky Goldstar to LG. It was now ready to have a go at India. At the party, K R Kim, the head of LG in India, took a few guests aside and said he knew how to make a nuclear bomb. The nasal voice was little more than a whine. Before anybody could ask how, he called a bearer, mixed whiskey in beer and handed it over to the guests — enjoy the nuclear bomb!
Dish Tv India, an Essel Group Company, reported a net loss of Rs 69.2 crore for the quarter ended June 30. 2009. Its net sales have gone up from Rs 246.3 crore from Rs 164.5 crore.
Mukesh Ambani, who heads India"s most valuable company Reliance Industries (RIL), has been ranked among top five best performing CEOs in the world by the prestigious Harvard Business Review.
The road to Lalgarh, in the heart of West Bengal’s Naxal badlands, is now secure. But it is still a distance too far for many of the districts" administrators to travel.
Rises only 2% from Q1, with cement, oil & gas, power, telecom all holding back.
Wind power turbine maker Suzlon Energy today said its three promoters have, in total, pledged a further 2.80 crore shares, taking the total shares pledged by the company"s promoters to 28.28 per cent.
Nuclear Power Corporation of India (NPCIL) and National Aluminium Company (Nalco) today signed a Memorandum of Understanding (MoU) for setting up nuclear plants in the country.
Municipal Corporation of Greater Mumbai (MCGM) would regularise water connections to slums in the city that came up before 2000. The decision comes in the wake of an announcement made by Chief Minister Ashok Chavan to regularise water connections to pre-2000 slums.
All-weather roads in the villages of the country has doubled the income of rural households, raised literacy rate by 10 per cent, and appreciated land prices by up to 80 per cent, says the World Bank. “In 2000, about 40 per cent of India’s 825,000 villages lacked all-weather roads ...with access to roads, incomes have soared.
Bloomberg / January 5, 2010, 0:16 IST
India’s second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.
The database will be used to find out whether a company has a desirable social diversity.
HCL Technologies has emerged as the best managed entity in the list of top 50 global outsourcing vendors for 2009 compiled by the Black Book of Outsourcing, which also features atleast eight other Indian IT services firms.
Citigroup Inc, Marshall & Ilsley Corp and Huntington Bancshares Inc ended 2009 with the biggest drops in the Standard & Poor’s 500 Index, weighed down by defaulting property loans that may add to their declines this year.
Reliance Webstore, the retail arm of Reliance Communications, today said it has forayed into handset distribution and plans to have a network of 10,000 outlets across the country in the next three years.
Apalya Technologies Private Limited, a Hyderabad-based mobile video platform developer, is planning to enter overseas markets with its flagship mobile live streaming and video on-demand product ‘MimobiTV’ by the second quarter of the next financial year.
The Comptroller and Auditor General has termed as "unwise" the crores of rupees spent on the upgradation and extension of the airstrip in Safai, the native village of Mulayam Singh Yadav, during his tenure as Chief Minister of Uttar Pradesh.
Fortis Healthcare today said it has completed the acquisition of 10 Wockhardt hospitals in metro cities of Mumbai, Bangalore and Kolkata for Rs 909 crore.
Contract research services provider, GVK Biosciences today said it has entered into a strategic partnership with US-based Quantitative Solutions (QS) to develop and market clinical trial outcome data base.
The indices closed flat for the third consecutive session. In line with its Asian peers, the Sensex was down nearly 200 points in opening trades. But a recovery in the Japanese markets engineered a turnaround on Dalal Street. The Sensex finally ended at 16,356, lower by one point, and the Nifty closed at 4,906, up 24 points. Consumer durables, IT and auto sectors traded firm, while FMCG and banking were sluggish.