Management
Tata Power Company today said it will be able to supply electricity to an additional 30,000 consumers in the city by March next year.
National Aluminium Company (Nalco), a leading producer of aluminium in the country, intends to enter the energy sector as an independent power producer.
Nilanjana S Roy / New Delhi December 1, 2009, 0:39 IST
Only the steady tide of readers overflowing into the aisles of the Gulmohar Hall indicated that this was not just another book discussion at the India Habitat Centre in Delhi. Vilayanur Ramachandran’s lecture drew students, fellow neurologists and inquiring readers in such numbers that we could easily have filled the nearby Stein Auditorium.
The Sensex has ended (provisional) at 17,458, down 28 points.
The problems of the Special Economic Zones(SEZ) with the blueprint on Direct Tax Code, which does not envisage I-T exemption to units in these areas, are being dealt at the "highest level", a senior Commerce Ministry official said today.
Mumbai-based Udyog Software, is in talks with Special Economic Zone (SEZ) developers in Gujarat for its tax software solutions. Udyog Software, which provides technology solutions to number of businesses in areas of Payroll Solutions, Tax Compliance Solutions, Integrated Solutions and ERP implementations, now plans to tap both SEZ developers as well as the upcoming units in it.
In a few weeks, Knopf will publish The Original of Laura: Fragments. The “fragments” is key. The design chosen for the final, unpublished manuscript that the late Vladimir Nabokov wanted destroyed is appropriate to the way he wrote it. The book includes reproductions of the 138 index cards on which the author, suffering from his last illness, wrote the unfinished version of the book he hoped would stand comparison with Lolita and Pale Fire.
Private Equity (PE) investments into South India have dropped 64 per cent between April and September, 2009, to $626 million from $1752 million, during the same period last year. The number of deals fell 48 per cent. Among the four states in South, Andhra Pradesh had attracted the highest investment, in terms of value.
India’s power sector will be a key destination for private equity (PE) players to park their money, with close to $1.64 billion worth of infrastructure funds, mainly in power, awaiting their launch. According to industry experts, once the liquidity situation improves globally, the sector will see good investment momentum.
Kolhapur based Ghodawat Energy Private Ltd (GEPL), part of Ghodawat Industries, is planning to invest around Rs 1,300 crore to increase its wind turbine production and to set up wind farms. To support the investment the company is planning to go public and initiated talks with private equity for fund raising.
Emerging markets, including India, accounted for a larger share in the global private equity (PE) activity in the first six months of this year, despite a decline in the funds raised compared to the year-ago period, a report has said.
Diversified conglomerate Siemens today said its energy unit has bagged an order worth Rs 608 crore from Qatar"s General Electricity & Water Corporation (Kahramaa) for constructing high voltage cables.
Bharti Airtel chairman Sunil Mittal today said the company had not initiated any tariff war with the launch of per-second billing and was merely responding to the market needs.
Business Standard / New Delhi November 30, 2009, 0:40 IST
Auto sales numbers for almost all companies in October 2009, are in. With growth ranging between 15-60 % and teamed with impressive quarterly top line and bottom-line growth, the sector is a poster-child for the domestic growth potential.
People in India swear by the success of the real estate sector, understandably so, for it is the country’s second largest employer and contributes to approximately 5 per cent to its GDP. The sector received foreign direct investment (FDI) of about Rs 21,370 crore between April 2007 and March 2009, second only to the services sector.
Real estate in Lutyen’s Delhi zone has the latest reason for rattle between the Congress and its biggest ally of the second UPA—the Trinamool Congress. According to top Trinamool sources, mercurial Mamata Banerjee is again angry with the Congress—even before the previous contentious issues could subside—over non-allocation of a preferred bunglow for her party office in the capital. Banerjee had zeroed in on bungalow number 14 on Bishamber Dass Marg as the ideal place to house her party office in Delhi.
The government today said that affordable housing will drive the construction sector and subsequently the industrial output during the current fiscal.
India’s long-criticised Akash anti-aircraft missile is now blazing towards success. Its counterparts in the DRDO’s Integrated Guided Missile Development Programme, the Prithvi and Agni ballistic missiles, were on target from the start; the anti-tank Nag missile will also enter service shortly; the Trishul short-range anti-aircraft missile was abandoned unceremoniously. Now, after years of rejection from the military, the Akash is being accepted as a world-class missile.
Lookout notices issued against two other key associates of the former CM.
The Enforcement Directorate (ED) has sounded a red alert against two key aides of former Jharkhand Chief Minister Madhu Koda, in the alleged Rs 2,000 crore havala and illegal investment cases.
The country"s largest auto maker Tata Motors today said its total sales during December last year more than doubled to 51,627 units, up from 25,219 vehicles sold in December 2008.
Sun TV Network is planning to restructure its distribution business and team with a creation of two verticals — South India operations and International business and the second would focus on expanding Sun TV bouquet into the north, west and eastern markets of India.
Mono-brand stores, or single-brand retail outlets, have become the new growth mantra for consumer durables companies. What was a trickle initially is fast turning into a deluge, with leading companies drawing up aggressive plans to scale up their presence through mono-brand stores.
The signs of economic revival notwithstanding, the unemployment rate in the 16-nation euro zone climbed to 10 per cent in November 2009, the highest in 12 years.
The government today gave a second extension up to March 31, 2010 to commodity exchanges to fall in line with the foreign investment ceiling of 5 per cent for an individual investor within the cap of 49 per cent.
Anticipating an investment of Rs 3,240 crore in dairy and live stock sectors in Kerala in the next three years, an experts" committee has recommended the government to set up a live stock development finance corporation to ensure better credit flow in this high potential area.
Realty firm Omaxe today said it will develop four new housing projects at an investment of Rs 1,500 crore over the next three years and is mulling increasing prices of existing projects within three months.
The concept envisages the use of IT to make ‘smart grids’ all over the world, including India, in a bid to create an interconnected planet.
Hyderabad-based vaccines and biotherapeutics manufacturer Bharat Biotech, which is getting ready with an indigenous H1N1 swine flu candidate vaccine, would go for clinical trials in two months, according to its chairman and managing director Krishna M Ella.
ISRO initially planned to have Russian lander, rover for project.
Euphoric over finding traces of water by a Chandrayaan payload, confirmed by NASA"s spacemate onboard the country"s maiden moon mission, India is mulling exploring lunar surface deeper for water in its next Odyssey.
UN chief Ban Ki-moon has pressed world leaders to publicly commit here next week to reaching a global climate change deal in Copenhagen in December.
Keeping in mind the panic created by swine flu and its adverse impact on academic activities across the country, the Indian Institute of Management, Ahmedabad (IIM-A), is preparing recommendations to be issued to various schools and colleges in the country. Once ready, the management institute, which has witnessed four cases of swine flu on its campus, will submit the recommendations to the state and central governments for further dissemination to academic institutes.
Multinational drug firms Novartis, GlaxoSmithKline and Baxter are likely to initiate discussions with the Union health ministry next week on conducting clinical trials for H1N1 (swine flu) medicine.
Tamiflu, the only drug for swine flu, will be made available in 480 chemist outlets across the country, the Centre today said.
State-run Canara Bank today reported a 50 per cent jump in net profit to Rs 1,052.58 crore for the third quarter ended December 31, 2009.
Novartis India surged over 4% to Rs 447. The scrip touched a high of Rs 450 and a low of Rs 434 during the day. The counter witnessed a volume 13,914 shares, which is more than two-fold increase in its two-week average traded quantity of 5,919 shares.
Despite the best efforts of Indian vaccine makers to develop the H1N1(swine flu) vaccine, Swiss drug major Novartis and Australian vaccine maker CSL may be the first ones to bag the orders from the central government for its supply.
It treats KG gas as personal property of the brothers, says SLP.
Novartis’s famed cancer drug, Glivec, will not get patent protection in India. The apex body on patent and trademark disputes, the Intellectual Property Appellate Board (IPAB), has ruled that the drug “lacks innovation” and the high price tag of Rs 1,20,000 per month per patient would be too high for the common man. “Any patent granted to support such a high monopoly price would be against ‘public order’,” the ruling said.
Private-sector lender, Bank of Rajasthan(BoR) today entered into a tie-up with Bajaj Auto to offer two-wheeler loans.
Travel and tour company Cox & Kings (India) made an impressive debut on bourses today. The stock closed 30 per cent up at Rs 426.05 on the Bombay Stock Exchange (BSE) as against the initial public offer (IPO) price of Rs 330. On the National Stock Exchange (NSE), the stock closed at Rs 430.
One million more go globe trotting in 2008-09.
The Supreme Court today sent the Ambani brothers’ cross appeals against the Bombay high court judgment to a three-judge bench to be constituted by September 1, which indicates that there would be no early decision on the myriad questions raided by the parties.
Bill Gates, co-founder of global software giant Microsoft, today expressed a keen interest for becoming a partner in India’s unique ID programme. Speaking at ‘Transforming India through technology’, an event organised by software body Nasscom, Gates said he planned to take the issue forward when he met Nandan Nilekani, the newly-appointed chairperson of the Unique Identification Authority of India (UIDAI).
The US Supreme Court has refused to stay the much-touted Chrysler-Fiat deal, paving the way for the bankrupt American auto maker to steer itself out of bankruptcy soon.
Emami Ltd, the Rs 2000 crore FMCG major, is currently recording zero sales of biodiesel, following a circular issued this month by the ministry of petroleum, virtually banning the sale of bio-diesel.
As part of its Phase-II plan, the Tamil Nadu government is planning to construct 17,000 disaster-resistant houses in rural areas. Each house would cost Rs 3 lakh, which is likely to be funded by the World Bank.
With the last two stimulus packages working wonders for the packaged goods industry, players in the sector are now rooting for one more round of fiscal incentives to further boost demand in the domestic rural markets and be competitive overseas. They are hopeful the new government will meet their major demands in this Budget session.
Healthcare services provider Zydus Cadila has filed an application before the Drugs Controller General of India (DCGI) for its anti-diabetic drug.
Drug maker Aurobindo Pharma today said its US-based joint venture firm has received approval from the drug regulator for its anti-bacterial veterinary medicine.
Men’s fashion will no longer be the neglected child of the Indian fashion world. While women’s fashion has almost two events every year, men’s fashion shows are showcased on the periphery. All this will soon change with the announcement of the Van Heusen Men’s Week by Fashion Design Council of India (FDCI) in September this year.
The government today said in the Lok Sabha that recommendations of the Committee on Content Code would be implemented after reaching a broad consensus after consultations with stakeholders.
Shuchi Bansal / New Delhi July 03, 2009, 0:22 IST
Japan today termed as "unfortunate" the failure of the Copenhagen climate talks to deliver a legally binding agreement to tackle global warming.
Government today downplayed comments by White House senior adviser David Axelrod that the Copenhagen Accord had bound India to cutting emissions and said the remarks were that of a "spin doctor" aimed at domestic consumption.
Government today downplayed comments by White House senior adviser David Axelrod that the Copenhagen Accord had bound India to cutting emissions and said the remarks were that of a "spin doctor" aimed at domestic consumption.
The Securities and Exchange Board of India (Sebi) today confirmed its decision of restraining 75 entities from dealing in the securities market as it failed to get any response from these entities in the Pyramid Saimira Theatre (PSTL) forgery case.
Inflation turned positive for the first time in three months, rising to 0.12 per cent during the week ended September 5 as foodstuff became costlier.
Goldman Sachs says it is ready to repay a $10 billion government investment today.
The Energy Department is lending money to the Ford Motor Co and two other automakers from a $25 billion fund to develop fuel-efficient vehicles, congressional officials said.
Automakers say they won’t have to overhaul their technology or flood the US with tiny cars buyers may not want under President Barack Obama’s standards for fuel economy and greenhouse-gas emissions.
Uttam Galva Steel today said the number of company"s shares pledged with lenders has come down considerably with 11 of its promoters revoking nearly 10 per cent of the pledged holding.
Tata Realty and Infrastructure, which hopes to develop projects worth Rs 20,000 crore over the next three years, today said that the $1 billion infrastructure fund, sponsored by its parent company Tata Sons, is expected to close by 2009-end.
The stock jumped 8.4 per cent to Rs 377.30, a 52-week high, after the foreign institutional investor (FII) — Capital International A/c Emerging Markets Growth Fund Inc bought 1.09 million equity shares at a price of Rs 374.18 per share through block deal on the National Stock Exchange.
Passing by the florist’s yesterday, I had to restrain myself from buying tuberoses — not for decoration, but for consumption. Tucked away among the many treasures in the Virago Book of Food is this gem, marrying the domestic art of flower arrangement with an opulent exoticism: “Put an ounce of tuberoses in a vase, having removed the leaves of the plant. Pour six quarts of (lukewarm) water on top, in which you have already dissolved 12 ounces of sugar…” and so on, until you have made tuberose ices.
Lakshman Menon / December 02, 2009, 0:13 IST
Kishore Biyani-promoted Pantaloon Retail today reported a jump of 51.07 per cent in its third quarter net profit at Rs 50.67 crore.
The government today said economic growth rate could decline to 6 to 6.5 per cent in the third quarter (October-December 2009) on account of the impact of drought and floods on agriculture production.
Trades between FIIs generated a volume of Rs 57 crore on the BSE Tuesday-an decrease of 13.67% from Rs 67 crore clocked on Monday. As many as six stocks witnessed trades of 5.36 lakh shares on Tuesday.
The New Year brought the happy news that exports showed positive growth of 18 per cent in November 2009. The coming decade promises to bring more exciting news.
The World Bank has approved the National Cyclone Risk Mitigation Project (NCRMP) for implementation in Orissa. This follows the submission of the report on the project by the appraisal mission of the Bank which visited the state from 3 December to 5 December 2009.
Deepak Lal / New Delhi December 29, 2009, 0:17 IST
T N Ninan / New Delhi October 10, 2009, 0:22 IST
T N Ninan / New Delhi September 26, 2009, 0:39 IST
In a move to expand the reach of market for exchange traded products, the Securities and Exchange Board of India (Sebi) today came up with guidelines for market access through authorised persons.
Imperial Energy, the Russia- focused oil firm that India"s Oil and Natural Gas Corp (ONGC) acquired recently, is likely to post its maiden cash profits next fiscal as it ramps up output.
The Sensex has recovered partially from its day"s low at is now at 16,267, down 90 points. The NSE Nifty is at 4,862, down 19 points.
Vemagiri Power Generation Limited (VPGL), a subsidiary of Bangalore-based GMR Energy Limited, is planning to put up an additional capacity of 750 Mw in Vemagiri, adjacent to its existing natural gas-fired combined cycle power plant of 388.5 Mw.
GMR Energy Ltd, the subsidiary of Bangalore-based infrastructure major, GMR Infrastructure Ltd, has finalised a Rs 400crore investment plan to relocate and restart its barge-mounted naphtha fired power project from Mangalore on the west coast to Kakinada on the east coast in Andhra Pradesh. The new plant, which will use natural gas as basic fuel, will be operationalised by March 2010.
Areva T&D India, the local arm of French power equipment maker Areva, today said it has bagged four contracts worth Rs 350 crore from power transmission utility Power Grid Corporation of India (PGCIL) for developing four substations in the country.
Bajaj Auto recorded a near three-fold increase in net profit at Rs 475 crore in the quarter ended December 31, 2009, beating market estimates. India’s second-largest motorcycle maker saw high demand for its vehicles, essentially driven by the high-margin, but low-capacity bikes introduced recently.
To make up for 80% of losses incurred by component suppliers
Power transmission infrastructure developer KEC International today said it has bagged two contracts worth Rs 780 crore in domestic as well as global markets for engineering related works.
Tata Motors Ltd will build as many as 25,000 Jaguar XJ luxury cars annually, starting next quarter, in a bid to take customers from Bayerische Motoren Werke AG’s 7 Series and Daimler AG’s Mercedes S Class.
The country"s largest two-wheeler maker Hero Honda today reported 23.57 per cent jump in its sales at 3,89,802 units in January compared to the same month"s last year.
Improved passenger numbers in the last three months helped low-cost carrier SpiceJet post a profit of Rs 108.9 crore in the third quarter ending December 31, 2009. The airline had incurred losses of Rs 17.96 crore during the same period last year.
Orchid Chemicals & Pharmaceuticals reported a net loss of Rs 13.20 crore for the quarter ending on September 30, 2009 as compared to Rs 40.66 crore loss last year.
Buoyed by a robust 48 per cent growth in its fee-based income, IDBI Bank has clocked a 29 per cent jump in net profit at Rs 287 crore in the third quarter ended December 31 from Rs 223 crore in the year-ago period.
IDBI Bank Chairman and Managing Director Yogesh Agarwal today said that the public sector player had completed due diligence on a private bank for possible acquisition.
Indian Oil Corp, the nation’s largest state-owned refiner, hired HSBC Holdings Plc, Standard Chartered Plc and Deutsche Bank AG to help it raise $500 million from its first overseas bond sale.
Reserve Bank of India (RBI) Governor D Subbarao said the hike in the cash reserve ratio (CRR) announced today, would not affect credit availability to the private sector and harden interest rates immediately.
UK Chancellor of the Exchequer Alistair Darling said bankers should stop complaining and get to work.
The Department of Telecom (DoT) has opposed general security clearance to few major equipment vendors like Ericsson, Nokia-Siemens, Motorola and Huawei and has sought Home Ministry"s view on the issue, a move that could delay execution of expansion plans of telcos.
Reliance Communications (RCom) has asked the department of telecommunications (DoT) to take action against its special auditor, Parakh & Co, for alleged breach of confidentiality and misconduct. It has also asked DoT to scrap Parakh’s report, saying the conclusions are incorrect, unilateral and biased.
Higher provisioning and lower net interest income have resulted in a 42.59 per cent drop in net profit of Syndicate Bank for the quarter ended December 2009.
Borrowing can be an easy process if financial records are well-maintained
India today said it is disappointed with the outcome of the recent WTO ministerial in Geneva as "nothing" substantive was done to resolve the differences to free global commerce.
Majority of HR managers in financial institutions across London expect hiring in the city to rise significantly in 2010, a survey by global professional recruiter Morgan McKinley says.
The trade ministers of th key WTO members, including India, Brazil and EU, will meet chief of the multilateral body Pascal Lamy on the sidelines of the ongoing World Economic Forum meeting here tomorrow to discuss the progress of the Doha Round.
You have to rub your eyes hard to believe the Tata Prima and Mahindra Navistar trucks can rival the best that Mercedes-Benz, Volvo and Scania have to offer. Their stylish cabs, with the multitude of buttons and gizmos and quality fittings, make you feel you are in a European truck. But then again, both have been developed by Indian manufacturers to rival the best the world has to offer and beat these in markets outside India as well.
The iconic US cult bike maker Harley Davidson is set to enter Indian markets tomorrow, two years after it was first granted permission to start operations in the country.
Recent studies on energy consumption in the Gulf region have changed the misconceptions about the sustainability of eco-friendly "green" buildings, prompting adoption of such models.
The Intergovernmental Panel on Climate Change (IPCC) has admitted that a claim made in the 2007 report headed by R K Pachauri — that Himalayan glaciers could melt away by 2035 — was unfounded and unsubstantiated.
Broadcasters are increasingly opting for non-exclusive rights of films this year.
Those who seized the opportunity and made a difference.
Notwithstanding the high voltage overseas road shows and Incredible India campaign, the decline in foreign tourist arrivals in the country continues.
Faced with a major downslide in business traffic, airlines are now adopting innovative schemes to attract high-end and corporate travellers to fill in the seats on the front rows.
IN MY MIND
Tata Motors has entered into an understanding with the Union Bank of India (UBI) to provide an added facility to Tata Motors" dealers for funding of their purchases of the company"s cars and utility vehicles.
James A Levine follows Mumbai’s seedy underworld life convincingly in new book, finds out Vikram Johri.
Reserve Bank of India Governor D Subbarao today said the central bank would revisit its growth projection for the current financial year ending March in its monetary policy review next month.
K Subrahmanyam / January 3, 2010, 0:59 IST
Celebrity restaurateur Bill Marchetti is settling down after a wildly experimental life, discovers Kishore Singh
Brushing aside government’s stand that Formula One is not a sport, F1 supremo Bernie Ecclestone on Wednesday said the foundation stone of the race track in India would be laid in October for the showpiece event next year. Ecclestone said it’s been long time that they have signed the contract with the promoters in India and there was no question of the event being shelved despite the Indian government’s refusal to give concessions.
Rising demand and steep rise in raw material prices may lead to 10-30% hike in prices.
The Institute of Company Secretaries of India (ICSI) and Aptech have entered into an exclusive tie-up to impart quality IT training to ICSI students and members across India.
The Ministry of Finance has assured the Planning Commission of at least 15 per cent increase in gross budgetary support (GBS) for 2010-11, over the 2009-10 budget estimates.
2009 saw a high-voltage legal battle between the Ambani brothers over the gas dispute reaching the Supreme Court with a judge withdrawing from the bench.
A two-member CBI team will soon leave for Britain to follow the trail of about Rs 120 crore allegedly received by an Indian entity from a Russian firm to secure an equipment supply order from the state-owned power major NTPC.
The Sensex after opening flat, surged to a high of Rs 17,658. The index then slipped to a low of 17,604 - down 54 points from the day"s high.
Tanla Solutions Limited, a city-based telecommunications software and services provider, has called off its plans to set up a new development centre in Hyderabad and a backup/ disaster recovery centre in Bangalore. The company had earmarked Rs 77.26 crore and Rs 12.78 crore respectively for its Hyderabad and Bangalore expansion.
Riding on the back of rising auto sales last month, the non-life insurance industry has recorded a marginal rise in premium collection.
The popularity of the ‘parallel banking service’ continues to rise
The government today said it may extend the white sugar import window up to December 2010 to help increase availability and contain prices of the sweetener, whose retail rate is rallying closer to Rs 50 a kg in Delhi.
Quick service restaurant chain Domino"s Pizza is now aiming to tap ready-to-eat pasta market to increase footprints in the estimated Rs 2,500 crore Indian organised food business.
Consumer durable companies with a manufacturing base in India are planning a price rise by March this year due to rising domestic steel prices.
A minority shareholder of Golden Tobacco Pramod Jain, who has made an open offer for additional 25 per cent stake in the firm, today said he will seek court injunction against holding extra-ordinary general meeting (EGM) on January 18.
As BJP grappled with dissidence among its MLAs, opposition Congress today fielded T B Jayachandra as its candidate to contest the post of assembly Speaker to be held tomorrow.
The country’s largest retailers — Future Group, Spencer’s Retail and Shoppers Stop — have lined up investments of at least Rs 600 crore for 2010.
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.
T N Ninan / New Delhi December 5, 2009, 1:54 IST
Bank of America Corp, the largest US lender, raised $19.3 billion selling securities at $15 apiece in the biggest sale of stock or preferred shares by a US public company since at least 2000.
The Foreign Institutional Investors (FIIs) were net buyers of Rs 694.71 crore in futures and options segments on Tuesday.
Phase-II yet to begin, will take three years to conclude.
Bangalore-based maker of medical diagnostic equipment, Opto Circuits (India) Ltd (OCI), today announced that its US-based subsidiary, Criticare Systems Inc (CSI), has forged a multi-year original equipment manufacturing contract with another US company to privately label its anaesthesia monitor for the US firm.
Healthcare major Zydus Cadila has bought the remaining 30 per cent stake in South Africa-based Simayla Pharmaceuticals for an undisclosed sum, making it a 100 per cent subsidiary of the group.
Reliance Industries" Executive Director and Crisil former Chairman, R Ravimohan passed away last night here due to cardiac arrest.
Global economy: The New Year brings a new agenda. In 2009, as the blue emergency lights flashed, extreme policy-making was permitted: anything to avert depression and deflation. But now recovery has arrived and anything goes won’t be enough to keep markets happy.
Asian markets ended flat at the end of a lacklustre day.
The industrial consumers numbering 19,417 owed Rs 220.15 crore as outstanding electricity bill to the power distribution companies in the state.
Finance Minister Pranab Mukherjee today said the government will pass the Right to Food Act to promote inclusive growth, a concept that has been pursued by the Congress since Independence.
The National Informatics Centre has raised concerns over privacy and security of proposed database of Unique Identification Authority of India(UIDAI), headed by Infosys founder Nandan Nilekani.
The Supreme Court today issued a notice to Glaxo Smithkline Consumer Healthcare in a case relating to the advertising war between two popular health drink brands Horlicks and Complan in India.
Hyderabad-based drug maker Dr Reddy"s Laboratories plans to launch generic version of the world"s largest selling anti-cholesterol medicine "Lipitor" in the US market in the next 2-3 years.
Israeli drug maker Taro Pharma has alleged that Sun Pharma is attempting to seize its control by waging a proxy war.
Sun Pharma today said it would revise the revenue guidance for 2009-10 as the company was not sure when its US subsidiary, Caraco Pharmaceuticals, would be able to meet the regulatory standards of the Food and Drug Administration (USFDA).
The 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.
Seven out of the top 10 companies lost nearly Rs 46,000 crore from their market capitalisation past week, while companies including state-run MMTC, Infosys Technologies and Tata Consultancy Services (TCS) saw their valuation surge.
As many as five companies among the elite club of top-10 Sensex firms have witnessed an erosion of over Rs 24,000 crore from their market capitalisation previous week, while Reliance Industries (RIL) maintained the top position with a valuation of Rs 3.49 lakh crore.
The government today said market regulator Sebi does not monitor usage of proceeds of any initial public offers (IPOs) and it is not contemplating any change in the current regulatory framework.
Seven out of the top 10 companies lost nearly Rs 46,000 crore from their market capitalisation past week, while companies including state-run MMTC, Infosys Technologies and Tata Consultancy Services (TCS) saw their valuation surge.
Animation and gaming firm DQE India is planning to hit the capital market initial public offer to raise Rs 150 crore to part finance its expansion plans.
Lower than expected refining margins have dragged down the company"s profits.
2009 was mostly bad news for countries, governments and individuals in terms of economic prosperity, but the year was the best in many years for borrowers as interest rates eased.
Sunanda K Datta-Ray / New Delhi November 21, 2009, 0:08 IST
India’s long-criticised Akash anti-aircraft missile is now blazing towards success. Its counterparts in the DRDO’s Integrated Guided Missile Development Programme, the Prithvi and Agni ballistic missiles, were on target from the start; the anti-tank Nag missile will also enter service shortly; the Trishul short-range anti-aircraft missile was abandoned unceremoniously. Now, after years of rejection from the military, the Akash is being accepted as a world-class missile.
Taking its “In India, for India” initiative further, GE Healthcare today launched MACi, a low-cost portable ECG device.
By contrast, the fraud enabled Raju’s kin and aides to make hundreds of crores, charges CBI.