Public Relations
The boundary between a television set and a computer is blurring. Consider Zenith Computer-promoted Vu Technologies’ offering, the Intelligent TV, which is a television-cum-PC with a Microsoft Windows operating system (OS).
An American federal court has upheld a patent violation ruling against Microsoft Corp related to Microsoft Word by restraining the software giant from selling the product in the US.
The Sensex is moving steady and is now at 17,053, up 204 points. The NSE Nifty is at 5,062, up 66 points.
The government has cleared nine proposals that will bring in foreign direct investment (FDI) of Rs 524 crore, more than half of which would be contributed by Japanese Mitsui and Company in setting up warehousing and container freight stations in the country.
Dabur"s promoter family member Gaurav Burman-led Atlas Acquisition today said it will acquire US-based staffing and employment services company Koosharem Corporation for $840 million (around Rs 3,900 crore) and merge with itself.
Production to begin in 12-15 months; second such venture.
Lokesh Machines Limited, a Hyderabad-based manufacturer of machines tools and automotive components, will be setting up a six-cylinder heads production line for Mahindra & Mahindra’s Navistar trucks, at the latter’s Pune plant with an outlay of Rs 10 crore. Targeted at the export markets, the Navistar trucks will be rolled out from M&M’s stable in the next five months.
Indian Oil Corporation (IOC) has decided to commission a detailed feasibility report (DFR) on a 2.5-million tonne a year liquefied natural gas (LNG) import terminal at Ennore, on the outskirts of Chennai. The company is also exploring the possibility of setting up a power plant with the terminal.
In Jharkhand politics, it’s sometimes all in the family. Take for example, Jharkhand Mukti Morcha (JMM) chief Shibu Soren, who is a Lok Sabha member. His daughter-in-law Sita Soren, widow of Durga Soren, won the elections from the Jama Assembly seat. Soren’s younger son, Hemant, contested the Assembly polls from the Dumka seat and humbled former deputy chief minister Stephen Marandi. Sushila Hansda of the JMM, who was a sitting party legislator in the last Assembly, was not in the fray from her Litipara constituency this time, but her husband, Simon Marandi, contested on JMM ticket and won the seat.
Concerns over climate change are only second to profit amid the slowdown, but in India it is rising and over 54 per cent continue to be "very concerned" about global warming, a survey says.
Public sector oil marketing companies(OMCs) are projected to incur under-recoveries of Rs 45,478 crore on retail sale of petrol, diesel, domestic cooking gas and kerosene during 2009-10, based on the refinery gate prices in the first fortnight of December.
Pureit and Acquasure are fighting hard for leadership in the entry-level market.
The Airports Authority of India (AAI) raised Rs 380 crore till September this year through short loans for funding various development projects but the borrowings will not lead to increase in passenger fares, the Rajya Sabha was informed today.
The Delhi High Court today directed the government and the National Aviation Company of India (NACIL) to file their reply on a petition challenging the merger of two state carriers Air India and Indian Airlines.
Middle East-based air-carrier, Air Arabia, today announced special low fares from 13 destinations across India to its hub Sharjah and 46 stations, which the airline caters to globally.
ICICIdirect.com, a part of ICICI Securities, today launched its new product for online trading in currency futures.
Axis Bank, India’s third-largest private sector bank, today entered into a strategic alliance with Motilal Oswal Securities (MOSL), one of India’s largest financial services intermediaries, to facilitate online trading for the bank’s 10 million customers.
The Sensex is now at 17,664, down 23 points. The NSE Nifty is at 5,268, down nine points.
The Indian cinema has witnessed some key changes over the decade. The surge of multiplexes and digital screens, changing methods of distribution & promotion of films and rising actor remuneration — all have redefined the business of Bollywood in India.
Commercial plane maker Boeing saw orders for its jets dip 11 per cent in August this year from a year ago while for the first eight months of 2009, orders plunged 71 per cent to 161 from 556 in January-August 2008.
Capital infusion should help DTH market leader Dish TV to consolidate its position in a highly competitive segment.
The concept of conflict of interest in commercial jurisprudence is hogging the headlines. A judge of the Supreme Court has recused himself from adjudicating a high-profile corporate war since his daughter now works for a law firm that had been involved in scripting a document that the court would have to interpret.
Business Standard / New Delhi November 04, 2009, 0:02 IST
The IIMs will have to reinvent themselves considerably if they are to compete with top B-schools internationally - both in terms of their faculty as well as their curriculum.
The $100-million (Rs 470-crore) equity infusion through issue of global depository receipts (GDRs) to US-based buyout specialist Apollo Management and Rs 410 crore expected from the third tranche of its rights issue should help India’s largest direct-to-home (DTH) service provider, Dish TV, increase its subscriber base and post an improvement in performance.
The shares of the engineering and construction major Gammon India, which plunged 16.11 per cent in the morning trade, closed with an over 6 per cent decline on the Bombay Stock Exchange, as investors dumped its shares after one of the bridges it was constructing in Kota, Rajasthan collapsed last Thursday.
In spite of the Reserve Bank of India (RBI) missive advising banks to reduce their exposure to mutual funds (MFs), banks pumped in an additional Rs 6,261 crore in these instruments in the week up to November 6. The total outstanding investment by banks in MFs stands at Rs 1,60,483 crore compared with Rs 36,781 crore on March 27.
Market volatility has hit equity schemes of domestic mutual funds. The category has seen the highest monthly redemption so far in the current financial year in October, with net outflow crossing Rs 2,100 crore.
Trading in The New York Stock Exchange (NYSE) surged to a record 3.15 billion shares as derivatives expiration and changes in the Standard & Poor’s 500 Index lifted volume to more than double this year’s average.
Gold’s best year in three decades has yet to match the returns of an interest-bearing checking account for anyone who bought the most malleable of metals coveted for at least 5,000 years during the last peak in January, 1980.
The Sensex has slipped further and is now at 16,623, down 220 points.
The Sensex has extended losses to touch a low of 16,732. The index is now at 16, 737, down 100 points. The NSE Nifty is at 4,969, down 25 points.
Axis Asset Management Company (Axis AMC), a wholly-owned subsidiary of Axis Bank, today announced that it has received the final regulatory approval from the Securities & Exchange Board of India (Sebi) to launch its mutual fund business in the country.
The financial services industry will see significant changes.
Hearing in the gas row between the Ambani brothers entered the final phase in the Supreme Court today with Mukesh Ambani Group Reliance Industries (RIL) asserting that government approval on gas pricing is mandatory, a contention opposed by the Anil Ambani-led Reliance Natural Resources (RNRL).
The Finance Minister, Pranab Mukherjee, today said the economy could grow by 7.5 to 8 per cent during the current financial year, though price rise and fiscal consolidation remained areas of concern.
Rajeswari Venkatesh, 26, a software professional, was looking to invest Rs 50,000. And while friends and colleagues suggested a plethora of stocks or mutual fund schemes, she wasn’t feeling very confident about taking a decision on their advice.
US medical devices maker Boston Scientific Corp today said it will pay $1.73 billion to settle three patent disputes with healthcare firm Johnson & Johnson (J&J).
With the greenback making gains, there is short term pressure on the yellow metal
The markets ended the last day on a high note. Erasing the previous day"s losses and shrugging off the spike in food inflation, the Sensex gained 120 points to end at 17,464 and the Nifty conquered the 5200 barrier to close at 5208, higher by 39 points. Power, consumer goods and energy stocks powered the indices.
The issue of separate Vidarbha has gained momentum after the dramatic developments over Telangana issue and senior Congress MP Vilas Muttemwar seizing the opportunity has written to the Prime Minister Dr Manmohan Singh reiterating the need for creation of separate Vidarbha.
The political backlash in Andhra Pradesh over Telangana decision took a new turn today with as many as 20 ministers hailing from coastal Andhra and Rayalaseema regions planning to resign from their posts en masse.
The Centre today sought to downplay the growing momentum for carving out of small states in some regions after the decision on Telangana and said cooperation of (undivided) states and political parties is needed in addressing such demands.
The government has ordered the SFIO to probe into mismanagement and financial irregularities in Vedanta Group-owned Sesa Goa and its subsidiary Sesa Industries (SIL), the company said today.
The shortage of information and communications technology (ICT) skills in developed countries could become a serious issue once the worldwide economic crisis starts easing. This will be exacerbated by the falling number of masters and PhD holders in science and engineering, restrictions on cross-border movement of IT professionals and the US H-1B visa programme. However, this vicious circle could be mitigated by the Indian service firms increasingly recruiting internationally, according to a new OECD report on employment trends in the ICT sector.
Since yearends and beginnings are about reflections and resolutions, here are some from yours truly. In 2000, I was an assistant editor at Businessworld magazine, writing and editing whatever came my way — management, media, Internet, technology. A stint in Cambridge researching copyrights in digital music, at the height of the Napster era, helped me decide to specialise in media and entertainment (M&E) writing. Now in the tenth year of making my bread and butter from this business, it makes sense to revisit the reasons I chose this industry.
Never mind “best of” lists, here’s a look at the good, the bad and the ugly of the year in music.
The stock gained 3.1 per cent to Rs 236.95 on reports that the company earned $4 million (approximately Rs 18 crore) by creating 200 of the 1,600-odd shots in James Cameron’s mega Hollywood movie Avatar. The film, with a reported budget of at least $300 million, is one of the most expensive films ever made.
State-owned, IDBI Bank has entered into a pact with Maurti Suzuki to provide auto finance to the latter"s customers.
Business Standard / New Delhi October 23, 2009, 0:41 IST
The Department of Telecom (DoT) is hopeful that the Defence Ministry will release more spectrum for the 3G radio wave auction scheduled for next month.
The small and marginal farmers of Haryana would soon overcome the power shortage as the state government is in advance discussions with the ministry of renewable energy to revive the concessions for the SPV (Solar Photo Voltaic) pump sets.
CIT Group, one of the largest small-business lenders in the United States, has filed for bankruptcy, with its board approving a "prepackaged" restructuring plan to shed $10 billion in debt.
The National Bank for Agriculture and Rural Development (NABARD) has sanctioned a loan of Rs. 2.14 crore to the state government for implementation of a drinking water scheme at Lingdok Bazaar in East Sikkim, an official release said today.
Two global lenders--JP Morgan and Bank of America (BofA) are preparing to lend US chocolate maker Hershey about $7 billion to bid for British confectionery major Cadbury, says a media report.
Kraft Foods Inc today proposed a 10.2 billion pounds ($16.7 billion) takeover of Cadbury PLC, but said the offer was immediately rejected by the British maker of chocolate, gum and candy.
Sachin Tendulkar could be the face of the Brihanmumbai Municipal Corporation’s (BMC) forthcoming campaign on water. If everything falls in place, the star cricketer will be seen endorsing the cause of water conservation — a pressing issue in the city which requires upto 4,550 million litres per day shortly.
A US federal grand jury has indicted billionaire Raj Rajaratnam, founder of Galleon hedge fund, in a multi-million-dollar Wall Street insider-trading probe.
After acquiring 51 per cent stake in domestic money changer and transfer agent Wall Street Finance, the BK Modi Group-promoted Spice Finance is looking to acquire one of Nepal’s biggest money changer and transfer agent, Annapurna Finance, promoted by a local businessman.
US-based mobile electronics and transportation systems supplier Delphi today said it would hire 150 more engineers at its Bangalore Technical Centre to cater to the automobile sector.
S Tel, a joint venture between the Chennai-based Siva group and Bahrain Telecom, today said it will launch mobile services from tomorrow with twin tariff plans of one paise a second and 50 paise per minute.
The market watchdog Sebi today said intermediaries who undertake investor education programmes must make the pitfalls of investment clear.
ITC flared up to a fresh 52-week high of Rs 270, and finally settled with a gain of 3.5% at Rs 269. The counter clocked heavy volumes of around 1.43 million shares on the BSE.
In a twin decision on its global operations involving about Rs 27,000-crore investment, the state-owned aluminium major Nalco has shelved its proposed project in South Africa, and has put on hold the one in Iran.
Former Cuban leader Fidel Castro accused the United States of seeking to "eliminate" Venezuela"s leftist government and amass power in South America through its military deals with Colombia.
The Frankfurt Motor Show kicks off on Monday. Here’s a preview of the important cars.
The Hang Seng has slipped 111 points to 22,516.
Volkswagen, Europe"s biggest carmaker, and luxury auto manufacturer Porsche said they had approved a plan to merge by 2011 and create an automotive giant.
Low cost of funds and low credit growth have meant unprecedented levels of capital adequacy ratios (CARs) for banks.
Rajiv Shirali / New Delhi November 8, 2009, 0:17 IST
Pramod Jain, a minority shareholder in Sanjay Dalmia-controlled cigarette-maker Golden Tobacco Ltd (GTL), today made an unsolicited open offer to acquire another 25 per cent equity in the company at Rs 101 a share.
Flagging investor segment ensured that merger and acquisitions, and private equity (PE) activity paled in 2009 in comparison with 2008. PE deal value took a 65 per cent knock in 2009 with deal volumes barely crossing $4 billion as compared to $11.96 billion in 2008. Harish H V — partner, National Management at investment advisory Grant Thornton, shares his views to Ravi Menon on what lies ahead.
Lancor Holdings, a realty major, has approved the further issue of securities up to a value of Rs 75 crore with domestic and international markets through various instruments. The decision ws taken in its board meeting yesterday.
Diamond and jewellery maker Goldiam International today said it will hold a meeting of its board of directors on October 30 consider the buy back of shares and financial results for the quarter ending September 30, 2009.
Textile major S Kumars Nationwide (SKNL) plans to raise Rs 1,000 crore through issue of shares on qualified institutional placement (QIP) basis to fund its expansion plans.
Dredging Corporation of India Ltd has received approval for purchasing three dredgers worth Rs 1,722 crore from the Public Investment Board.
Vanita Kohli-Khandekar / New Delhi October 27, 2009, 0:52 IST
Kolkata-based Emami, the Rs 2,200-crore fast moving consumer goods major, is on the lookout for local homeopathy companies, even sick units will do. Emami had acquired Kolkata-based M Bhattacharyya & Co, one of the country’s earliest homeopathy companies, three years ago.
Kanpur’s oldest Elgin textile mill is set for revival after reopening of JK Mills last November.
Sidhartha / Mumbai December 25, 2009, 0:43 IST
IT and ITeS being a knowledge industry does not discriminate in recruiting employees and the hiring is done on the basis of merit and competency, the Government today said in the Rajya Sabha.
The interest rate futures (IRFs) trading in the country will get a boost in coming days, as Life Insurance Corporation (LIC) and Central Bank of India have agreed to provide support to the exchange-traded product. Both these will ensure adequate liquidity on the National Stock Exchange (NSE)— the bourse where IRFs are traded.
Shyamal Majumdar / Mumbai December 10, 2009, 0:14 IST
India"s exports fell by 28 per cent in July, for the tenth month in a row, due to the ongoing global downturn, Commerce Secretary Rahul Khullar said today.
The public sector copper producer Hindustan Copper (HCL) today said it will come out with a follow-on public offer (FPO) to raise Rs 1,700 crore by diluting 10 per cent stake for part-funding its expansion plans.
Infosys ended at Rs 2,454, higher by Rs 10 or 0.4%, on the BSE.
HCL Technologies closed at Rs 355, higher by Rs 6 or 1%, on the BSE. It opened at Rs 350 and touched a high of Rs 357 and a low of Rs 349 during the day. The stock saw trading volumes of 517,850 shares as against the 2-week average of 172,036 shares.
World Bank Group member International Finance Corporation (IFC) today said it will give $50 million loan to healthcare major Apollo Hospitals for providing high quality services to smaller cities across the country.
Worried over an adverse impact on export earnings due to rising rupee against the US dollar, several north Indian export companies are mulling hedging against the volatility of the Indian currency.
Over 10 per cent rise of rupee against the US dollar has become a "big worry" for exporters at a time when they saw arrest in sharp decline in the country"s exports amid a hope of recovery.
Small price difference with Maruti causes customer attrition and back-outs.
Bajaj Auto, India’s second largest bike maker, today posted a growth of 84 per cent in motorcycle sales in November at 242,390 units, against a dismal tally of 131,681 units recorded in the same month a year ago.
Sensex ends up 35pts
J K Paper Mills, a leading paper manufacturing company has initiated the process of registration with the United Nations Framework Convention of Climate Change (UNFCCC) on carbon credits in the forestry sector.
Bolstering the world economic recovery and crafting a deal to fight climate change will be top of the agenda for G20 finance ministers meeting tomorrow in Scotland.
Dubai has set up of a tribunal to settle all financial disputes between Dubai World, which is seeking to restructure around $26 billion of debt and its creditors.
With fears of its flights being disrupted, Air India today warned its employees of wage and allowance cuts if they participated in the proposed two-hour "illegal" walkout this afternoon to protest delayed payment of salaries.
In the last few months, a number of new platforms have been launched for buying and selling mutual funds (MFs). With the Securities and Exchange Board of India (Sebi) banning the entry load for all MF schemes, both distributors and banks now have to renegotiate their fees with customers.
Bank of Maharashtra will raise Rs 300 crore by September this year as Tier I and Tier II capital by issuing bonds, the bank executive director M G Sanghvi said today.
The country"s largest public sector lender State Bank of India today launched a slew of measures for farm loan borrowers, including interest rate reductions on irrigation and crop loans, to support drought-hit farmers.
State-owned Indian Overseas Bank (IOB) is planning to foray into the venture capital business.
German financial services major Deutsche Bank today reported a 67 per cent jump in net income to euro 1.1 billion (Rs 7,566 crore) for the second quarter of 2009, bolstered by a good performance in its corporate and investment banking operation.
Bank of Baroda (BoB) would open five new branches in Uganda, Trinidad and Malasiya during 2009-10, a top bank’s official said today.
Markets closed lower with the Sensex losing 3 per cent to close below the 17,000 mark at 16,810.80 during the last week. FIIs were net buyers to the tune of Rs 1,083 crore for the week ending October 22. However, selling over the last two trading sessions by FIIs in frontline stocks, disappointing global cues and an uptick in domestic inflation were prime reasons for the correction.
Retail and corporate loan rates may stay the same as bankers today ruled out any increase in lending rates in the next three to four months, thanks to the RBI keeping almost all key rates unchanged.
The Finance Ministry today said the RBI"s move to retain almost all key rates unchanged will give a positive signal to the economy, which is on the path of recovery.
Aiming to tackle inflationary pressures, the Reserve Bank today increased a key statutory deposit ratio for banks by one percentage point to 25 per cent but the move is not expected to push interest rates up.
Wells Fargo & Co, seeking to wipe away the tarnish of US government bailout funds, kept pace with rival banks by announcing a $10.4 billion share sale to help repay the Troubled Asset Relief Program. The San Francisco-based bank plans to return all of the $25 billion that taxpayers invested last year, according to a company statement issued on Monday.
The transaction values XTO at $51.69 a share, 25 per cent higher than its last closing - MCL decision on coal transport to help land oustees - UBI likely to float IPO by early February - 25 suspended workers reinstated at Dunlop"s Sahaganj unit - Elder gets bolder - Ruia Group acquires 60% stake in Henniges Automotive Grefrath - "Declare oil palm a plantation crop"
Bank of America Corp, UBS AG, JPMorgan Chase & Co and other banks were sued by a California public utility over claims they rigged sales of municipal derivatives and shared illegal profits through kickbacks.
As sugar prices continue to soar, a defensive Congress party — the leader in the United Progressive Alliance (UPA) government — today stepped in and urged the central government to check the prices of the commodity for the sake of the common man.
A majority of graduates in India lack basic business proficiency skills and over 40 per cent students give more importance to employability skills over the domain knowledge, a survey has said.
Railway Minister Mamata Banerjee-led Trinamool Congress, under fire from the Left parties for its nexus with the outlawed Naxals, will launch an aggressive campaign in the Naxal-dominated areas of West Bengal.
My father is a senior citizen and wants to invest around Rs 3 lakh in mutual funds. He wants to derive monthly returns from the investment, like through pension. Please suggest some funds that do not carry risk.
The government has relaxed the visa conditions that require a foreigner to take a two-month break before re-entering the country, Home Minister P Chidambaram said here today.
The Indian consulate in Chicago today said the papers related to issuance of visas to terror suspects David Coleman Headley and Tahawwur Rana had not gone missing and the "relevant information" in this regard is available with the Indian government.
Business Standard / New Delhi November 24, 2009, 0:08 IST
Noting that G-20 is the premier forum for international economic co-operation, US Treasury Secretary Timothy Geithner has told lawmakers that the Obama Administration is placing the forum at the centre of its global economic cooperative effort.
Japanese economy shrank at a staggering pace of 4 per cent in the first three months of 2009, as the country continues to experience the jitters of the global financial turmoil.
Raj Rajaratnam, the billionaire hedge-fund manager accused of insider trading, started an investment firm in 2006 with partners including Rajat Gupta, former head of McKinsey & Co, and Mark Schwartz, ex-chairman of Goldman Sachs Group Inc’s Asia business.
JPMorgan Chase & Co, the second- largest US bank by assets, said profit in the third quarter soared almost sevenfold, beating analysts" estimates, as fixed- income revenue surged.
Purchase of Affiliated Computer Services to help Xerox triple sales from services
The yield on government bonds may stay elevated next week on apprehension that Reserve Bank of India (RBI) may hike cash reserve ratio as a signal to manage inflationary expectations.
Credit Suisse bonuses: Credit Suisse seems to think the best form of defence is attack. The banking industry is facing heavy criticism over bonuses. In response, the Swiss group is the first to set out the details of a new compensation structure, upholding a recent tradition of forward thinking on pay.
As investors get ready for Christmas celebrations, domestic bourses will not have much to cheer about and is likely to see subdued trading this week, feel analysts.
Birla Shloka Edutech Ltd, part of the Yash Birla Group, an education company offering IT and ITeS services has announced a price band between Rs 45 and Rs 50 per share per equity share of Rs 10 each for its further public offering (FPO) of Rs 34.77 crore. The Issue opens on January 11.
Kalpataru Power Transmission closed at Rs 1151, weaker by Rs 19 or 1.64%, on the BSE.
After the Bombay Stock Exchange (BSE) Brokers Forum, the Association of National Stock Exchange Members of India (ANMI) has decided to approach the government and the Securities and Exchange Board of India (Sebi) on extension of trading hours from January 4.
Barclays Global Retail Banking (GRB), India, the retail banking business of financial services provider Barclays, is evaluating possible targets for mergers and acquisitions to accelerate its growth in the country. It has been growing at two branches a year in the last three years, according to interim managing director and chief operating officer Ram Gopal.
Global banking major, Standard Chartered, which is widely expected to list its shares on the bourses here in the first half of next year, said the listing would enhance the lender"s commitment to the local market. "The issue of proposed Indian Depository Receipts (IDRs) demonstrates our commitment to India," Standard Chartered, Global CEO, Peter Sands said.
Raghavendra Kamath / Mumbai September 04, 2009, 1:38 IST
Many smart buyers wait for the year-end to buy a car. Auto makers and dealers come up with the best discounts in the month of December to clear stocks. But if you are planning to buy a car any time soon, the current festive season could be an equally attractive opportunity, thanks to the availability of cheaper finance.
Computing giant Apple has decided to leave the US Chamber of Commerce in protest over the organisation"s opposition to tough climate change rules, according to a letter.
Following reports that the cigarettes-to-hospitality major, ITC, could make a hostile bid to increase its stake in EIH, which runs the Oberoi hotel chain, ITC Chairman Y C Deveshwar today asserted that his company could even raise its stake up to 25 per cent in EIH.
Air India (AI) has convened a meeting of foreign pilots’ recruitment agencies on Wednesday to discuss its proposal to slash wages by 10 per cent. This is the airline’s bid to reduce costs and narrow the difference between the pay of Indian and foreign pilots.
Dish TV’s new campaign presents Shahrukh in a new avatar to take on Tata Sky’s Aamir
Godrej Properties today fixed the issue price for its initial public offer at Rs 490 a share at the lower-end of the price band, to garner over Rs 460 crore.
Banks across Asia have minimal exposure to Dubai and its debt-laden conglomerate Dubai World, Moody"s Investors Service said.
The UPA government"s austerity measures was dubbed as "tokenism", by BJP leader Yashwant Sinha today.
Business Standard / New Delhi December 29, 2009, 0:14 IST
Investors got the upper hand in 2009, as regulatory changes made mutual funds more attractive to park their money in even as the industry shrugged off recession blues with its assets hitting an all time high of Rs eight lakh crore.
The Insurance Regulatory and Development Authority (IRDA) today said it would come with initial public offer guidelines for the insurance sector within a fortnight to allow companies to raise funds from the capital market.
The Ministry of Corporate Affairs (MCA) has asked the Securities and Exchange Board of India (Sebi) for details of its investigation pertaining to Reliance Industries Ltd (RIL). The market regulator had acted on a complaint that RIL had allegedly routed funds to dummy companies to buy its own shares nine years ago.
Even as socially responsible investing (SRI) is yet to find its feet in India, indices that screen stocks based on ethical and environmental concerns have been outperforming their benchmark peers.
Quarterfinals at the World Cup. Just five of the top ten seeds are still in contention. Gelfand (No:1) is tied with Jakovenko (9) while Ponomariov (7) is tied with Gashimov (2) after the first game. Svidler (3) appears to be on his way out against Malakhov (22) and Karjakin (12) looks set to eliminate Mamedaryov (13) after Malakov and Pono won their first games.
Titan Industries (TIL) plans to tap the rural and semi-urban markets with its Sonata brand of watches, company officials said while launching new designs of its "Super Fibre" range here today.
Aminah Sheikh / Mumbai December 17, 2009, 0:19 IST
Mahindra Satyam (the erstwhile Satyam Computer Services) has agreed to pay $70 million (Rs 325 crore) as settlement to UK-based Upaid, which had claimed damages of $1 billion for alleged forgery, fraud and breach of contract.
A third of Russia’s 42,000 clothing retailers will close by the end of this year after the economic crisis hurt local spending, according to the head of the European Fashion and Textile Export Council.
The stock market could see 17-18 such issues next year
With uncertainty prevailing over the supply of jute bags due to the indefinite strike of the jute mills in West Bengal, the Centre plans to allow Food Corporation of India (FCI) and the other government procurement agencies to place orders for polymer bags for packaging of food grains.
Non-banking finance company Tata Capital today announced the appointment of Jamshed Daboo, to the newly created position of head, of national sales and services organisation.
New Delhi, Oct 19 (PTI) The Company Law Board today dismissed a petition challenging the appointment of Harsh Vardhan Lodha, son of late R S Lodha, on board of Birla Corporation.
The stock surged further to a high of Rs 37 - up 7%. The stock, however, slipped from the high and ended with a gain of 5% at Rs 36.30. Over 7.46 million shares changed hands at the counter today, comparatively higher than the two-week daily average trade of 1.56 million.
Adani Power has fixed the price at Rs 100 per equity share for its initial public offering (IPO) of 301,652,031 equity shares of Rs 10 each for cash.
Unitech today said its telecom venture had earmarked a capital expenditure of Rs 10,000 crore for the next three years to roll out its services across the country.
Sahara Prime City Ltd, the company planning India’s second-largest real estate initial public offering in more than two years, is in talks to raise as much as Rs 1,000 crore ($214 million) from private equity investors.
With profit-making not being the sole motive of public units, caution needs to be exercised while investing in their IPOs.
Reliance Mutual Fund, the country"s largest fund house, today said it is open to acquisitions if some good opportunities come its way.
Mysoreans will have the opportunity of witnessing for the first time thrilling aerobatic demonstrations by the Suryakiran team of the Indian Air Force (IAF) during this Dasara.
While high proportion of restructured loans is a near-term dampener, strong volume growth and higher margins augur well for the bank.
The government today referred a proposal by private carrier Jet Airways to raise Rs 2,000 crore from foreign investors to the Cabinet Committee on Economic Affairs (CCEA).
France’s Michelin, the world’s second largest tyre manufacturer, signed a memorandum of understanding with the Tamil Nadu government on Monday to set up a factory near Chennai. The project would attract Rs 4,000 crore investment over the next seven years.
Auda International LP, the $5 billion private-equity unit of Germany’s Quandt family, plans to invest as much as $300 million in Asia over the next three years as it expects deals in the region to pick up.
Revenue department has approved a proposal to levy a flat one per cent charge on property registrations with immediate effect, doing away with the Rs 30,000 ceiling.