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Steel companies SAIL, Tata Steel, Essar, Bhushan and JSW have hiked prices of their products by up to Rs 2,000 a tonne on the back of a rise in demand in the domestic market.
The BSE Sensex, the barometer of stock market, is all set to enter its silver jubilee year.
US markets ended flat on Tuesday. The Dow dropped two points to 10,545 while the Nasdaq slipped three points to 2,288.
The stock finally ended at Rs 225, down 6% from its previous close. The counter clocked volumes of 520,102 shares as compared to the two-week daily average traded volumes of 76,351 shares on the BSE.
Asian stocks rose for a second day as higher oil and metal prices boosted commodity producers and Shimamura Co’s profit buoyed the outlook for Japan’s retailers.
Emerging-market equity funds inflows tripled last week as the outlook improved for developing-nation exporters, EPFR Global said.
Private sector insurer Aviva Life Insurance today announced a nation-wide strategic partnership with India Post, which will help it collect its premium through post offices.
Private equity firms are becoming cautious about making fresh investments in India with less funds flowing into this segment as institutional investors have become more sceptical in committing funds without thorough research, experts says.
The Indian car accessory market is estimated at Rs 1,200 crore.
Bharti AXA Life Insurance is targeting a five per cent market share by end-2012 and has charted out an aggressive road map for expansion, a top company official said.
Axis Private Equity (PE), a fund sponsored by the third largest private sector lender Axis Bank, plans to invest Rs 200 crore in two more companies, while it lines up its second fund. The second fund will hit the market later this year.
Aviva Life Insurance is planning to hire 1,500 sales managers and 13,000 sales agents in the next seven months in order to expand and improve their business prospects, according to Managing Director and CEO T R Ramachandran.
May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
India"s economic growth rate is expected to accelerate to 8 per cent in the next fiscal from 6.3 per cent projected for the current financial year, the Planning Commission has said.
The stock managed to erase all its losses and rebounded into the positive zone to touched a high of Rs 247.The scrip finally flat settled at Rs 237, up 0.42%. Around 44,483 shares were traded today as compared to 27,649 shares.
The government is not considering further disinvestment in aluminium major Nalco and Hindustan Copper even as operations of the copper producer are set to be revamped.
The stock extended gains and touched a high of Rs 167 - up 5.5% from the previous close. It paired gains and finally ended at Rs 161 - up 1.5%. Over 463,100 shares were traded on the BSE so far.
Jonathan Weil / September 18, 2009, 0:00 IST
JSW Steel is in talks with Japanese firm JJFE Holdings on equity sharing arrangement of JSW Bengal Steel, which is setting up a 10-million tonne steel plant in West Bengal.
As the Ministry of Finance gets into the Budget mode, its officials perhaps want to tell themselves, “All is well”. So, they have none other than Aamir Khan, alias Rancho of recent Bollywood blockbuster 3 Idiots, talking to them this weekend on Cinema and Society.
Sensex ends up 35pts
Medical devices manufacturer Johari Digital Healthcare Ltd is planning to foray into retail and medical spa space.
Steel maker Prakash Industries today said its shareholders have approved to raise Rs 500 crore by various fund raising routes from domestic and international markets.
Housing Development Finance Corporation Ltd (HDFC), the multi-faceted finance company, has decided to dilute a maximum 3.5 per cent equity to Qualified Institutional Buyers (QIBs) to raise over Rs 4000 crore.
Dr Reddy"s Labs long-standing patent dispute with Europe"s AstraZeneca over a drug to treat heartburn may be resolved out of court following a similar settlement between the European drug maker and Israel"s Teva, feel market watchers.
The Department of Telecom (DoT) is likely to seek approval for auctioning three blocks of 5 MHz each of 3G spectrum pan-India except Rajasthan and North East, from the Empowered Group of Ministers (EGoM) scheduled to meet tomorrow.
The stock extended gains and touched a high of Rs 795, up 9% from its low. It finally settled at Rs 786 - up 5%. It is now only 5% lower from its 52-week high of Rs 829 which it had touched yesterday.
Mysore head post office became one of the 58 post offices being brought under the ‘Project Arrow Phase III’ of India Post in Karnataka
Bangalore-based maker of medical diagnostic equipment, Opto Circuits (India) Limited has raised Rs 400 crore from qualified institutional buyers (QIBs).
A day after the path-breaking revelation by the international scientific community that India’s maiden mission to the moon, Chandrayaan-I, has succeeded in tracking the presence of water on the lunar surface, Indian Space Research Organisation (Isro) Chairman G Madhavan Nair said here on Friday that the mission was a 110 per cent success.
India will ignore the shadow of taint that surrounds Japanese Prime Minister Yukio Hatoyama when he arrives in Delhi from Mumbai on Monday, and instead applaud two agreements that will be signed tomorrow evening to galvanise industry and infrastructure around the 1,483-km dedicated rail freight corridor between the two cities.
America"s increasing unpopularity in Pakistan is an issues of concern for the United States, the Obama administration has said.
Sixty seven per cent of domestic companies have chosen non-government organisations (NGOs) as partners to undertake their Corporate Social Responsibility (CSR) projects, while 58 per cent prefer government departments for the spread of CSR obligations, Associated Chambers of Commerce and Industry of India (Assocham) says. The chamber, in its assessment, ‘CSR: Quantitative Analysis’, said 21 domestic companies were working with multilateral or bilateral organisations for CSR activities. The study added 37 per cent of the firms had a well-structured foundation for implementing their CSR, while 58 per cent domestic companies had formed a separate department to implement CSR.
Leading Indian drug majors, such as Ranbaxy Laboratories, Dr Reddy’s Laboratories, Piramal Healthcare and Wockhardt, are in-licensing popular products from overseas drug makers to boost their domestic sales. They introduce the in-licensed drugs — which are mostly in the premium skin care segment — on payment of an upfront fee to the brand owners, who also get a share of the sales revenue.
The year 2010 will start on a promising note as we have held on to the gains of 2009, even if it means consolidating for the first few months of the year, says Sundaresan Naganath, chief investment officer at DSP Blackrock mutual fund. After having worked with Credit Suisse Asset Management New York and Merrill Lynch Asset Management Hong Kong, Naganath oversees some of the best performing funds such as DSP Blackrock Equity and DSP Blackrock Top 100. In an interview with Vandana and Neha Pandey, he says challenges that markets face are more external than domestic. Excerpts:
Tata Consultancy Services (TCS), an IT services, business solutions and outsourcing organisation, announced plans to form an innovative business alliance that will provide critical business services to Dow, a diversified chemical company, its subsidiaries and joint ventures.
The Sensex is now flat at 16,880, down 13 points.
The Sensex is now flat at 16,880, down 13 points.
The Asian markets ended on a weak note.
After a massive 387 points fall on the Sensex yesterday. The index today opened on a weak note at 16,699 owing to negative cues from the global markets. The index then started slipping further into the red and is now at 16,229, down 123 points.
Markets have started to recover.
Jet Airways surged further and zoomed to a high of Rs 412, up 25% from the day"s low. The scrip finally settled at Rs 398, up 9% from the previous close. The counter clcoked volumes of 1.28 million shares as compared to the two-week daily average traded volumes of 572,048 shares on the BSE.
The share of SGX Nifty has risen from 2% in March to 5.9%.
The Obama Administration has asserted that no condition has been imposed on Pakistan for the $2.3 billion Defence Authorisation Bill and charged an attempt is on to “willfully distort” the facts.
Commerce ministry recommends extending industrial package till 2013.
Foreign institutional investors (FIIs) have raised their holding in most large- and mid-cap information technology (IT) stocks.
Refusing to be drawn into the debate over when should stimulus packages be withdrawn, the Planning Commission today said India will not stand out in the world as an overspender despite the rise in the fiscal deficit because of the sops.
The Union budget for 2010-11 is likely to be presented on February 26, two days ahead of the conventional date.
Trades between FIIs generated a volume of Rs 29 crore on the BSE Thursday-an increase of 40.27% from Rs 21 crore clocked on Wednesday. As many as five stocks witnessed trades of 6.44 lakh shares on Thursday.
The Orissa government has sought Rs 5,000 crore grant from the Thirteenth Finance Commission (TFC) to upgrade its power infrastructure.
The Uttarakhand government has told a high-powered committee that four cumax of water flow would be sufficient to maintain perennial flow of the Bhagirathi in Uttarkhand where three key hydropower projects have been suspended on environmental and religious grounds.
The industrial consumers numbering 19,417 owed Rs 220.15 crore as outstanding electricity bill to the power distribution companies in the state.
The Orissa government today said it was not prepared to implement Goods and Services Tax (GST) from April 1 this year and has sought permission from the Centre to re-introduce Purchase Tax on foodgrain.
The Uttarakhand government has told a high-powered committee that four cumax of water flow would be sufficient to maintain perennial flow of the Bhagirathi in Uttarkhand where three key hydropower projects have been suspended on environmental and religious grounds.
IRB Infrastructure Developers is all set to raise further funds to the tune of Rs 1,200 crore through various instruments.
After having opened marginally in the red, the markets have rebounded in line with their Asian counterparts. Asia is largely trading in the green after the Federal Reserve raised the US growth forecasts for 2010. The US markets also ended off their lows, albeit marginally weak, after the Fed raised the GDP forecast.
Australian Prime Minister Kevin Rudd today praised the very completion of the Copenhagen climate summit as progress, saying that the talks had hovered near collapse.
The chief climate change negotiator of the tiny Pacific island of Tuvalu today made an emotional appeal for a strong agreement that would legally bind all countries to commitments to control carbon emissions.
Snapping its two-day losing string, the Bombay Stock Exchange (BSE) Sensex today surged over 240 points on the back of a good show by European markets and realty and metal stocks.
Ahead of its upcoming annual general meeting on December 31, 2009, Israeli drug company Taro Pharmaceutical has asked its shareholders to reject a takeover bid by Sun Pharmaceuticals.
The Nifty futures faced resistance at 5,060 and closed in a Doji pattern, indicating indecisiveness among traders. The trading volume on the futures & options segment suggests the index is set for an either side breakout in the coming days. The Nifty is expected to face strong resistance above 5,100 and support for the time being is seen at 4,800-4,900.
Business Standard / New Delhi November 16, 2009, 0:03 IST
FMCG player GlaxoSmithKline Consumer Healthcare is betting big on the toddlers" biscuit category with its newly-launched Junior Horlicks Biscuits range and plans to make it a Rs 50 crore brand in the next 3-4 years. The company is also looking at rolling out the range across the country.
A month after the Company Law Board"s (CLB) order allowing Descon to bid for its parent firm Dishergarh Power Supply Company (DPSC), Andrew Yule would invite financial bids for the power utility on November 20.
State gas utility GAIL India Ltd plans to raise around Rs 2,000 crore during the current fiscal to part fund its expansion plans.
State gas utility GAIL India Ltd plans to raise around Rs 2,000 crore during the current fiscal to part fund its expansion plans.
P B Jayakumar / Mumbai September 25, 2009, 0:10 IST
Great Eastern Energy Corp today said it has completed laying a gas pipeline from Asansol to Durgapur in West Bengal.
The National Pharmaceutical Pricing Authority (NPPA) has sent a notice to Cipla for allegedly overcharging customers. The government arm has imposed a fine on the company for selling Ciprofloxacin and Doxycycline medicines at a higher price than the one stated by the government.
The stock ended at Rs 1,468, up 1% from its previous close. The counter clocked volumes of 18,616 shares as compared to the two-week daily average traded volumes of 30,875 shares on the BSE.
The stock soared to a high of Rs 429 and finally ended at Rs 421, up 5.5% from its previous close. The counter clocked volumes of 323,029 shares as compared to the two-week daily average traded volumes of 20,162 shares on the BSE. _________________________________________
Farm equipment and utility vehicle maker Mahindra & Mahindra (M&M) today said its joint venture with China"s Yueda Group will invest around $40 million (Rs 188 crore) in China to set up a new R&D centre, engine plant and in modernising its tractor unit at Yancheng.
China and India may not be the best of friends at global levels but when it comes to business, differences take a back seat.
DLF finally ended at Rs 365, down 4% from its previous close. The counter witnessed trades of 4.98 million shares as compared to the two-week daily average traded volumes of 2.46 million shares on the BSE.
Tata Motors has said all the existing bookings of the Nano will be delivered at the current prices, notwithstanding the rising input prices.
Sun Pharma ended at its intra-day high of Rs 1542, stronger by Rs 38 or 2.5% on the BSE.
In spite of a major regulatory clampdown on its US subsidiary, Caraco, Mumbai-based Sun Pharmaceuticals is trying hard to keep its US market share intact. The company is relying on its own manufacturing facilities to deliver goods to the US market. All eight ANDAs (abbreviated new drug applications) for sales permission in the US filed during the first quarter of the current financial year (Q1FY2010) came from Sun’s facilities.
Sun Pharmaceutical Industries’ US subsidiary Caraco Pharmaceutical is facing more trouble in the US. A law firm, Izard Nobel LLP, has initiated a lawsuit seeking class action status against the company in the United States District Court for the Eastern District of Michigan on behalf of its investors.
Pharma firm Orchid Chemicals & Pharmaceuticals today said it has received the US drug regulator"s nod for its Piperacillin and Tazobactam injection, used to treat infections caused by certain bacteria.
Sun Pharmaceutical Industries announced that USFDA has granted its subsidiary an approval for an Abbreviated New Drug Application (ANDA) for generic Casodex Bicalutamide tablets.
The Madras High Court today directed Ahmedabad-based Zydus Cadila (Cadila Healthcare) not to sell its anti-depressant drug, Venz (venlafaxine), in the domestic market for the time being, based on a trademark complaint from Mumbai-based Sun Pharmaceutical industries.
Sun Pharma recovered partially from the day"s low of Rs 1,070, and finally ended 12% lower at Rs 1,140. The counter registered heavy volumes of around 580,400 shares, which is around 30-times higher than its two-week daily average volume of around 19,230 shares on the BSE.
In a major setback to Sun Pharmaceutical Industries - the largest Indian drug maker in terms of market capitalisation, the US Food and Drug Administration (FDA) has seized all medicines produced by Sun’s US arm Caraco Pharmaceutical Laboratories, for repeated violations of manufacturing standards.
Jindal Drilling & Industries today said it has bagged an order worth Rs 635 crore from Oil and Natural Gas Corporation (ONGC) for hiring a drilling unit for five years.
Business Standard / New Delhi December 02, 2009, 0:55 IST
A two-year long global recession, Mumbai terror attack and then swine-flu, each coming on the back of the other. The tourism industry in India could not have expected anything worse than this. It however is starting to see its own green-shoots popping up. October 2009 saw the rate of fall in foreign tourist arrivals making a sharp decline to less than one percent against a 17 per cent fall in January 2009 (over January 2008). The Ministry of Tourism believes this is the beginning of recovery of the industry and things can only get better from here.
Business Standard / New Delhi November 11, 2009, 0:19 IST
Left parties today demanded cancellation of the government"s decision to divest up to 10 per cent of its shares in profitable public sector units (PSU), calling it a "patently anti-national step".
Private sector Karnataka Bank said its net profit declined by 77.78 per cent to Rs 16.35 crore for the quarter ended September 30, 2009, over the same period last year.
Pushes oil and gas to second and IT to third place.
Luxembourg-based Millicom has rejected Indian telecom PSU BSNL"s bid to acquire its operations in Sri Lanka, but India"s largest private mobile operator Bharti Airtel has entered the ring.
Oil rose in Asian trade today, lifted by a weak US dollar which came under more pressure after a report that Gulf states considered dropping the greenback for oil transactions, analysts said.
Of the top-10 most valued firms, six lost a combined sum of over Rs 68,000 crore from their market capitalisation last week, while the rest including the country"s most valued firm Reliance Industries (RIL) and oil major ONGC saw rise in their valuation.
Country"s eight of the top-10 firms together added over Rs 53,000 crore to their market capitalisation last week, while two state-run firms NTPC and NMDC-- saw an erosion in their valuation.
Expects to earn Rs 3,000 crore each year from new venture.
Country"s eight of the top-10 firms together added over Rs 53,000 crore to their market capitalisation last week, while two state-run firms NTPC and NMDC-- saw an erosion in their valuation.
The good, the bad, the ugly of downloading music.
It may be India’s most popular beverage, but not everyone can make a good cup of tea. Or pick the finest leaves, for that matter. The Indian luxury market is flooded with a wide variety of specialty teas — and we pick a few of the best, ready to brew, from some of India’s finest tea makers.
As many as six among the top 10 firms added over Rs 28,415 crore to their market capitalisation in the past week, while companies like NTPC, NMDC and IT bellwether Infosys Technologies saw their valuations dipping.
The Nifty futures moved in a narrow band and closed higher at 5,239 on poor volumes in both cash and derivates segments. The trading volume in Nifty January futures declined to 11.86 million shares from around 42 million shares on the first day of the December series. It is difficult to predict the market movement in the near future due to extremely poor volumes. However, the intra-day trading pattern in Nifty futures and options suggested that traders booked profits while bears built short positions at higher levels.
The Sensex has ended (provisional) at 17,562 - up 97 points.
Dishman Arabia, the 50:50 joint venture between Dishman Pharmaceuticals & Chemicals and Saudi Arabia based Takamul, is bullish on touching a turnover of $50 million within two years of commencement of production at its JV plant in Riyadh.
The UK police are extremely courteous even if they don"t solve crimes.
The Sensex has extended gains and touched a high of 17,554 - up 90 points. The Nifty is up 30 points at 5,231.
The Planning Commission today said it will soon set up a separate independent evaluation office (IEO) to assess the progress of the government"s flagship schemes in benefiting the poor.
Pitching for continuance of the stimulus packages, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the concessions given to the industry to combat global financial meltdown need to remain till the economy achieves 7 per cent growth rate.
Enough has been written about last year’s collapse of insurance giant AIG after it had to make good all the insurance it sold against corporate bond defaults and the fact that the US government bailout happened to help Goldman Sachs, the firm that US Treasury Secretary Hank Paulson once ran. Much less, however, is known about the company’s origins (it was the first reverse MNC, with its headquarters in China), of how it had such tremendous clout it could even threaten governments with US sanctions, or of how in the second World War it allowed US intelligence agency officials to masquerade as journalists of one of the newspapers it owned and collect information against the Japanese.
CDMA operators association AUSPI has asked the Government to consider introduction of 11- digit numbering scheme for mobile operators to take care of the crunch of numbers due to the growing list of users.
The Nifty remained listless after opening on a positive note on lack of follow-up buying in cash and F&O segments. With traders unwilling to be active at higher levels, the derivatives trading volume dropped significantly by Rs 10,000 crore. The Nifty December futures closed on a par with the spot index and shed 1.24 million shares in open interest (OI), mostly through a blend of buy and sell trades, indicating short-covering and unwinding of long positions. The rollovers in the Nifty January were lower at 0.78 million shares compared to unwinding in the December futures. This indicates that participants are not in a hurry to rollover their positions at the current level.
The UK police are extremely courteous even if they don"t solve crimes.
India may go beyond the purchase of 126 medium multi-role combat aircraft.
Bravehearts from Mumbai"s fire brigade, who battled not only fire but gunfire too during the the 26/11 attacks to save hundreds of lives, are yet to receive their due. With just a few days left for the first anniversary of the terror assault, one of the most audacious in recent memory, these firemen are still to receive the gallantry award announced by the Municipal Corporation of Greater Mumbai (MCGM).
For the first time, the Indian Air Force (IAF) today landed an AN-32 transport aircraft at the Nyoma Advanced Landing Ground (ALG) in eastern Ladakh, just 23 km from the Line of Actual Control (LAC) with China.
State-owned Andhra Bank has enough capital and there was no need for government funds or follow-on public offer to meet its 20-25 per cent growth target for 2009-10 (April-March), Chairman and Managing Director RS Reddy said today.
Trade unions have asked the government to shelve the proposal in the draft Direct Tax Code to tax all savings and provident fund schemes at the time of withdrawal, saying the move would hit the salaried class hard.
Air India has convened a meeting of foreign pilots" recruitment agencies on Wednesday to discuss its proposal to slash wages by 10 per cent, in its bid to reduce costs and the differences between the pay packets of Indian and foreign pilots.
The Sensex is now trading at 17,002, weaker by 48 points and the Nifty is at 5,053, lower by 9 points.
Global software major Microsoft will slash hundreds of jobs globally as part of its effort to realign business activities.
Fast moving consumer goods (FMCG) companies are likely to register a modest growth for the July-September 2009 quarter on the back of rising consumer demand which is expected to considerably reduce the impact of a disappointing monsoon on sales. Traditionally, summer and winter months make up 30-40 per cent of any FMCG company’s overall sales.
Sunil Jain / New Delhi November 16, 2009, 0:07 IST
Government today said the Delhi and Mumbai airports achieved service quality ratings of 4.24 and 4.05 respectively on a scale of five in third quarter of the current fiscal and were aiming at reaching 3.75 at the end of stage II of their development.
The Sensex opened flat at 17,032 owing to subdued cues from the global markets. The index touched a high of 17,099 and continued to swing between alternate zones of red and green. The index slipped to a low of 16,958. The BSE benchmark ended at 16,998, down 52 points. The NSE Nifty settled flat at 5,054.
The Sensex is now trading at 17,002, weaker by 48 points and the Nifty is at 5,053, lower by 9 points.
FMCG player Godrej Consumer Products today said it is ready to acquire some of its joint venture partner Sara Lee"s international businesses if the US-based company decides to sell its global assets.
Twenty-five years after it brought Maggi instant noodles to India, Nestle has extended the brand to ready-to-eat pasta. It has come out with Maggi Nutri-licious (nutritious and delicious) Pazzta. There are two flavours: Masala Penne and Cheese Macaroni. The first has been priced at Rs 12 and the other at Rs 15.
Despite the economic slowdown, Nestle India, the food and beverages major, registered net sales of Rs 3,780 crore for January-September 2009, a 17 per cent jump as compared to the same period a year earlier.
The UGC is mulling a reward scheme for university and college teachers on the lines of the Performance Related Incentive Scheme (PRIS) being worked out for IIT and IIM faculty to encourage better performance.
Foreign institutional investors (FIIs) have raised their holding in most large- and mid-cap information technology (IT) stocks.
Dubbing as "biased" the special audit report alleging overstatement of revenues and evasion of licence fee by Reliance Communications (RCom), its Chairman Anil Ambani today said corporate rivals were behind the "vicious campaign" against his group company.
Global majors like Microsoft, Yahoo! and Google may have decided to trim their workforce worldwide to cope with the economic turmoil, but these entities do have openings in India.
Internet search major Yahoo! today appointed Arun Tadanki as the managing director of its India operations.
The government today said a proposal for $2.97 billion loan from the World Bank has been formulated and the same will be taken up with the President of the bank visiting India shortly.
Suzlon Energy, India’s biggest maker of wind-turbine generators, said it has reduced its borrowings by 15 per cent after it paid back $780 million (Rs 3,645 crore) used to acquire Hansen Transmissions International NV.
The Delhi High Court has rejected a claim of exclusivity by global alcoholic giant Pernod Ricard over usage of the word "Imperial", thus allowing other liquor makers to use it in their respective brands.
The tri-nation cricket tournament in Colombo, involving India, Sri Lanka and New Zealand, ended a few days back. But for brand Compaq, it’s the start of a new innings – something it wants to repeat every year.
The stock erased most of its gains and ended flat at Rs 452. The counter clocked volumes of 1.47 million shares as compared to the two-week daily average traded volumes of 756,608 shares on the BSE.
State-owned Central Bank of India is planning to restructure its home finance as well as financial and custodial services arms.
The ongoing debt crisis in Dubai offered a great opportunity for India to become the global gold trading hub, said Vinod Hayagriv, chairman, All India Gem & Jewellery Trade Federation.
Finance Minister Pranab Mukherjee will meet Sri Lankan President Mahinda Rajapaksa over lunch on Sunday to deliver a message of a worried United Progressive Alliance (UPA) government to address the rehabilitation issue more effectively and expedite the long-pending devolution of power for the Tamils.
The implementation of mobile number portability (MNP) is likely to be delayed by one to three months, with operators still not fully prepared to meet the deadline and with the government imposing new requirements with respect to security.
The fissures in the Congress over the Telangana issue today came to the fore in the Lok Sabha with Y S Jaganmohan Reddy along with some other party members joining a TDP protest against the decision to carve out a separate state from Andhra Pradesh.
Panel shortlists five candidates, decision on winning entry in January.
Enthused by robust performance of the economy in the second half of 2009-10, Finance Minister Pranab Mukherjee today said fiscal deficit would not exceed the target of 6.8 per cent of the gross domestic product (GDP).
Power Minister Sushil Kumar Shinde today said that besides a goal of thermal energy generation capacity of 78,000 Mw, an additional 5,000 Mw will be produced during the current Five-Year plan (2007-12).
Bajaj Group promoted sugar major, Bajaj Hindusthan, has informed the Bombay Stock Exchange that it would raise long-term funds up to Rs 2,000 crore from the domestic or international market in one or more tranches.
Participants from 22 African countries are likely to attend the second India-Africa Hydrocarbons Conference, scheduled to be held here tomorrow and the day after. The objective is to bring together ministers in-charge of oil and gas, top government officers and captains of the industry for exploring partnership opportunities.
The stock finally ended at Rs 135 after touching a high of Rs 136. The counter clocked volumes of 1.10 million shares on the BSE as compared to the the two-week daily average traded volumes of 1.17 million shares on the BSE.
The Nifty has a strong support at the 5,000 mark.