Management
Tata Power Company reported a 28 per cent fall in net profit at Rs 182.1 crore for the second quarter ended September, compared to Rs 252.9 crore for the corresponding quarter last year.
National Aluminium Company (Nalco), a leading producer of aluminium in the country, intends to enter the energy sector as an independent power producer.
Global rating agency Fitch today downgraded long-term rating of Ansal Properties and Infrastructure (API) due to restructuring of company"s debt.
Higher MAT, depreciation also take their toll, says company
Private equity (PE) investments in south India dropped 64 per cent between April and September 2009 to $626 million from $1,752 million during the same period last year. The number of deals too dropped 48 per cent, according to Venture Intelligence, a research service focused on PE and M&A
Alstom Projects India, subsidiary of French firm Alstom, today said is has bagged orders worth Rs 365 crore from Hindalco Industries, for supply and installation of four gas treatment plants in the country.
Construction firm Ahluwalia Contracts India today said it has bagged four orders worth Rs 242 crore from various vendors for construction-related works.
Stock markets surged on hopes of a push to domestic economic reforms, positive G-20 talk and firm global markets. The Sensex gained 340 points to end at 16,499 and the Nifty closed at 4,898, up 102 points.
Domestic passenger car sales have recorded 33.88 per cent increase at 1,32,615 units in October from 99,052 units in the same month last year.
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.
Several Karnataka High Court lawyers today protested against continuance of Chief Justice P D Dinakaran, facing allegations of land grabbing, forcing him to suspend the proceedings and leave the hall.
Tata Motors, India"s biggest auto company by revenue, has speeded bus production at its massive Dharwad facility, primarily to avoid any delay in honouring its commitment to supply low-floor buses to the Delhi Transport Corporation (DTC).
Monday and Tuesday were supposed to be the days for the mock auction for 3G spectrum, with the final auction to be held on January 14. Naturally, then, reporters rushed to meet Telecom Minister A Raja when the last date for the mock auctions passed without anything happening. Instead of announcing a new date, or giving the usual “no comment”, Raja surprised everyone by saying, “The date has not been pushed.”
To raise Rs 80 crore for working capital requirements
In a major setback to India"s oil diplomacy, the ONGC-Hinduja Group alliance has lost the rights to develop Iran"s South Azadegan oilfield to CNPC of China.
Ashok Leyland, the Hinduja group flagship company, would commission its Pantnagar plant in Uttarakhand by March next year. The unit for making medium and heavy vehicles is coming up at an outlay of Rs 1,300 crore, according to its director and chief operating officer Vinod K Dasari.
State-run National Hydro-electric Power Corporation (NHPC) Limited, the largest hydel power company of the country, is betting big on Arunachal Pradesh which is estimated to have hydro-power potential of more than 50,000 megawatt(Mw).
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.
Business Standard / New Delhi December 31, 2009, 0:44 IST
Jet Airways plans to complete its first tranche of fund raising of around $150-200 million over the next 3-4 weeks, a senior company official said.
The stock surged further to a high of Rs 1,373 - up 7% from the day"s low. It finally ended up 3% at Rs 1,350. Around 41,101 shares were traded on the BSE today.
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.
Gulf Oil Q1 FY10 PAT at Rs 21 cr
Finance Minister Pranab Mukherjee said the production of Kharif or summer crop would decline by 15-20 per cent, as 252 districts in 10 states are drought-hit.
Chennai-based healthcare major Apollo Hospitals Group has opened Apollo Bramwell in Mauritius with an investment of $70 million (around Rs 350 crore).
Drug maker FDC today said it has bought back shares worth Rs 17.78 crore from its shareholders, following which the promoter group"s holding in the company has increased to 65.76 per cent.
Ahead of the climate summit next week, a senior Indian officials has met UN Secretary- General Ban Ki-moon to discuss the country"s stand on climate change.
Leading bankers do not foresee any rise in the interest rates at least for the next six months and want the Reserve Bank of India (RBI) to keep the monetary stance unchanged in its policy review due later in the month.
The global swine flu pandemic will expose the failure of the international community to invest in health protection in poor countries, the world"s top health official warned here today.
Reserve Bank of India today said bank loans whose repayment is done from future rental generated from properties like shopping malls and office premises will be treated as commercial real estate exposure (CRE).
In keeping with the Reserve Bank of India (RBI) guidelines for the Residuary Non-Banking Finance Company to exit deposit-taking business by March 2011, Kolkata-based Peerless General Finance & Investment Company scaling down its RBFC operations, while focusing on new business lines like asset and wealth management.
Aban Offshore slumped over 8% to Rs 1,130 on the back of 65% decline in net profit.
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.
In a relief to Prasar Bharati CEO B S Lalli, the Supreme Court today restored to him the executive powers taken away by a recent order of the Delhi High Court.
Telecom regulator Trai today said it could not give its fresh views on the crucial issue of capping of licences by September 5 as licensing policy needed a closer look for the growth of the industry.
T N Ninan / New Delhi August 29, 2009, 0:12 IST
With a modest rise in net interest income (NII) and decline in treasury income, Bank of Borada (BoB) has posted a net profit growth of 17.5 per cent to Rs 832.49 crore for the quarter ended December compared to Rs 708.37 crore recorded in the same period of the previous year.
DLF rallied nearly 3% to Rs 373. The scrip touched an intra-day high of Rs 376. Around 3.9 million shares changed hands at the counter as against its two-week average traded quantity of 3.8 million shares.
While the world grapples with a cure for the H1N1 swine flu, those in the trenches are coming up with their own solutions. Russian soccer fans, Reuters informs us, have been advised to drink a lot of whisky on their trip to Wales for the World Cup next month. “We urge our fans to drink a lot of Welsh whisky as a form of disinfection,” Alexander Shprygin, the head of Russia’s supporter association VOB told Reuters. The Russian health ministry had issued an advisory against travelling to the UK because of the swine flu virus but, armed with the Shprygin Solution, it is expected that several hundred fans will travel to support the team.
Cox & Kings (Australia), the wholly-owned subsidiary of Cox and Kings (India), a travel and tour company, has bought MyPlanet Australia and Bentours International through a share sale agreement from First Choice Holdings Australia. The acquisition is being done through an ‘earn-out mechanism’ and is not being paid for from funds raised for acquisition from the company’s recent initial public offering (IPO).
Observing that voices of protectionism emanating from the political quarters, is an issue of concern for American businesses, an Indo-US chamber has said it believes that such trends need to be resisted.
Pharma firm Zenotech has approached the Company Law Board (CLB) seeking removal of two of its board members, appointed by Ranbaxy, alleging "operational mismanagement".
Cox & Kings (India) ended Day 1 at Rs 426, a premium of around 30% to its issue price of Rs 330.
The Madras High Court on Monday set aside its earlier order restraining country’s third largest two-wheeler manufacturer TVS Motors from manufacturing and marketing vehicles with twin spark technology.
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).
Spencer’s, the retail arm of the Rs 13,500-crore RPG Enterprises, will be focusing more on large format stores this fiscal and prune down investments per store in order to beat recession blues and turn the company profitable.
NMDC, the country"s largest iron ore producer, is set to restart mining at the Panna diamond reserves in Madhya Pradesh in the next three months with the Supreme Court giving conditional nod to such activities at the site.
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.
The Supreme Court today allowed TVS Motor Co to manufacture ‘Flame’, the 125 cc bike which was caught in a patent row with Bajaj Auto Ltd. But the finished two-wheelers would not leave the company’s warehouse. Both parties were also restrained from using the order for any purpose, including publicity.
The country’s largest special economic zone (SEZ), promoted jointly by Reliance Industries Chairman Mukesh Ambani and his confidant Anand Jain, is in danger of being scrapped. The zone was being set up by a company called Mumbai SEZ Ltd in the Raigad district of Maharashtra.
GMR Hyderabad International Airport Limited (GHIAL) has signed three memoranda of understanding with Jet Airways, Malaysia Airports Consultancy Services (MACS) and Asia Pacific Flight Training Sdn Bhd (APFT).
The third Software Technology Park of India (STPI), being set up in Orissa at Ambapua on the outskirts of Berhampur, has failed to attract major IT companies even though the construction work on the STPI centre is nearing completion.
After robust 2009, wherein funds garnered via the Qualified Institutional Placements (QIP) route touched a record Rs 41,522 crore, India Inc seem keen to start this year too on an earnest note. Most companies prefer the QIP route as it cheaper and quickest route with minimum disclosures. There"s no lock-in and the whole process takes little time.
Public sector lender Bank of Maharashtra reported 7 per cent drop in net profit to Rs 112 crore for the quarter ended December 31, 2009 as against Rs 120.6 crore in the year-ago quarter.
Colours and clothing may waltz in and out of style, but the watch is an accessory that rarely sees an off season. Here are a few picks to flaunt this summer:
Drug maker Sun Pharmaceutical Industries today said its net profit rose by 22.24 per cent to Rs 1,817.73 crore in 2008-09 over the same previous fiscal.
Raising finance for companies eyeing renewable energy projects would no more be a tough task as banks and consultants are working on innovative solutions to help these companies.
Even though the Copenhagen accord is not legally binding, the United States would not only "review" its implementation by India and China, but also would "challenge" them if they do not meet the goals set by the agreement, the White House said.
After months of tough negotiations, Senate Democrats have come together to back a sweeping health care legislation, providing a powerful boost for President Barack Obama"s top domestic policy goal that promises to extend medical coverage to 31 million Americans.
Two more persons died of swine flu (H1N1 flu virus) on Sunday, taking the total death toll to nine in Andhra Pradesh.
Andhra Pradesh chief minister K Rosaiah said a meeting of the state Legislative Assembly and Council would specifically be convened to condole the death of former chief minister, Y S Rajasekhara Reddy.
- Succession race hots up in AP - AP Cabinet wants YSR"s son Jagan as next CM - YSR"s death may hit infra companies - V V: Gray"s anatomy of the mind">V V: Gray"s anatomy of the mind - India has lost an outstanding leader: Manmohan Singh - PM, Sonia pay homage to YSR
Debt-laden wind energy major Suzlon Energy has posted a net profit of Rs 14.1 crore for the third quarter, ended December 31, 2009, against a net loss of Rs 64.87 crore in the third quarter of the previous last year.
Novartis India, a subsidiary of Switzerland-based Novartis AG, is all set to grow its business revenues by four times in the next five years. The company"s over-the-counter business unit is looking at introducing more products in the consumer healthcare segment.
Suzlon Energy has forayed into the Swedish market with its first order coming from Triventus AB, a wind power developer and consultant. The order is for two S88-2.1 megawatt wind turbines. Suzlon will also sign service and maintenance partnership contracts with a subsidiary of Triventus for future projects in Sweden, the company said in a statement to the stock exchanges.
The Foreign Investment Promotion Board (FIPB) has cleared global hospitality major Hyatt group"s proposal to set up "Hyatt Place" hotels in the country in a joint venture with realty firm Emaar MGF, with an investment of about Rs 125-150 crore.
Ishita Ayan Dutt / Kolkata September 11, 2009, 0:52 IST
As part of its Corporate Social Responsibility (CSR), ArcelorMittal India, planning to set up a 12 million tonne greenfield steel project in Keonjhar district has sponsored 78 young people including 16 girls from its project site villages in Patna tehsil of Keonjhar district for ITI training at Don Bosco, Rourkela.The company has entered into an agreement with Don Bosco, Rourkela for the academic year 2009-2010 and 2009-2011.
The Board of Approval (BoA) in the Commerce Ministry will again take up, on June 2, the proposal of Mundra Port and SEZ for almost doubling the power generation capacity at its sector specific special economic zone at Kutch in Gujarat.
After hitting the upper circuit barrier for three consecutive days, Satyam Computer Services’ share price was 0.5 per cent down today, to close at Rs 80.45 from the previous close of Rs 80.85.
The Orissa government today said it would assess the local situation in the trouble-hit site for Posco"s proposed Rs 50,000-crore steel plant before allowing South Korean President Lee Myung-bak to visit the place in January.
The Chennai-based Murugappa grorup, which crossed Rs 15,500 crore in turnover, is planning to invest Rs Rs 586 crore in 2009-10 through its group companies.
Two-wheeler maker Ultra Motor Company today launched two new electric scooters priced between Rs 28,300 and Rs 31,900 (ex-showroom, Delhi).
Sunil Jain / New Delhi January 04, 2010, 0:20 IST
Hitting hard at global warming sceptics, powerful US lawmakers have accused them of "engaging in a policy of distraction" by promoting hacked e-mails, which claimed that scientists had exaggerated the crisis and asserted that the world is getting hotter faster.
A crucial UN climate summit opened here today amid calls for "early action" to combat the threat and with the hope that emission reductions promised by key countries had put the world closer to a global warming control pact.
T N Ninan / New Delhi October 3, 2009, 0:41 IST
P B Jayakumar / Mumbai September 25, 2009, 0:10 IST
Aditya Birla Capital Advisers, the private equity arm of Aditya Birla Financial Services Group, today announced closure of its first fund with the investment commitment of about Rs 675 crore.
The government today said there is no plan to change existing FDI rules in retail, a day after Chairman of the world"s largest retailer Wal-Mart Inc met the Prime Minister and reportedly pressed to open up the sector.
Devika Banerji / New Delhi December 6, 2009, 0:28 IST
Leading auto maker Bajaj Auto today said its technology ExhausTEC, which helps improve performance of a two-wheeler, has been granted a patent by the Munich-headquartered European Patent Office.
Firm had failed to complete closure within 12 months of project allotment. Has been given grace of 3 months
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.
Sterlite Industries, the Vedanta Group diversified base metals producer, has posted 42 per cent decline in net profit at Rs 924 crore in the first quarter of the current financial as compared to Rs 1,595 crore in the same quarter of the previous year. Net sales of the company also plunged by 21 per cent to Rs 4,537 crore from Rs 5,770 crore. Earnings per share (EPS) slipped, therefore, to Rs 9.49 from Rs 16.25 in the first quarter of the previous year.
Two-wheeler giant Bajaj Auto reported a smashing 189.24 per cent increase in its net profit at Rs 475.14 crore for the third quarter ended December 31, 2009.
The country"s largest auto maker, Tata Motors, today said it has started distribution of its Prima range of trucks and plans to launch three more products in the segment during the current fiscal.
Religare Finvest, the non-banking finance arm of Religare Enterprises, today said it has entered into an agreement with public sector Corporation Bank to offer services to small and medium enterprises.
The small and medium bauxite players in Gujarat are seemingly left in the middle of nowhere as the new government resolution (GR) has kept the mining lease for the mineral reserved for a state run PSU.
Likely to kickstart its hybrid plans for India by a preview at Auto Expo 2010
The swine flu toll in the city rose to 97 with the death of a 29-year-old youth, health officials said today.
Bank of Baroda (BoB) ended at Rs 556, higher by Rs 33 or 6.4%, on the BSE.
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.
The head of the International Monetary Fund (IMF) warned today against excessive capital inflow in some Asian countries although he said the IMF sees no imminent threat of asset price bubbles.
The manufacturing sector in December climbed to its highest level since May 2009, signalling a faster monthly improvement in the key economic activity, an HSBC survey said today.
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.
Telecom giant Bharti Airtel has managed to declare a profit but its results show a real problem in even the top line. This underscores the need for these market leaders to find other ways to monetise customers. The plain vanilla voice market is no longer profitable, but these companies haven’t done much by way of value added services apart from the caller tunes, which is now an old story.
The telecom tribunal TDSAT has held that the ongoing arbitration between broadcast major Star India and telecom major BSNL is not valid and that it has the sole jurisdiction to decide on the disputes between the two.
The flow of resources from other entities to the corporate sector has almost made up for the shortfall in non-food bank credit.
Energy-starved Karnataka has deferred a decision on purchasing power from cogeneration sugar mills in the state.
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.
Financial services major Bank of America today said its consumer banking chief Brian T Moynihan will replace Kenneth D Lewis as President and Chief Executive Officer of the company on January 1, 2010.
Chief minister B S Yeddyurappa will lead an all-party delegation to meet Prime Minister Manmohan Singh on January 13 seeking his intervention to withdraw the revocation order on the Kalasa-Bandori Nala drinking water project.
India, Latin America and Africa must be taken on board while framing the rules for globalisation in the post-economic crisis scenario, French President Nicolas Sarkozy said at world economic forum"s (WEF) annual meeting here.
India will on Sunday hold a meeting with its BASIC group partners comprising China, Brazil and South Africa in the capital to firm up a common position on the climate front post-Copenhagen.
Top US and Indian officials are making hectic efforts to conclude the discussions on critical reprocessing deal on spent nuclear fuel before Prime Minister Manmohan Singh"s high-profile state visit here next week.
India and Canada will soon finalise the civilian nuclear cooperation agreement that will pave the way for new opportunities for both the countries, a senior Indian diplomat has said.
Women continue to play regressive roles on the small screen
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.
The electric version of General Motors India’s small car Spark will hit the Indian road in the next 12 months, said its vice president P Balendran.
The last date for receipt of pre-qualification applications for Hyderabad Metro Rail project has been extended from November 2 to November 27 due to administrative reasons in view of elections for the Greater Hyderabad Municipal Corporation.
Tata Group firm, Voltas today said its non-executive independent director S D Kulkarni has retired from the board of the company.
The move will encourage setting up of diamond bourses.
Gold continued its rising spree today to set a fresh record at Rs 18,550 per ten gram in the bullion market today as dollar remained weak.
Maruti Suzuki will expand its passenger vehicle production capacity at Manesar by around 2 lakh units over the next 2 years.
Brushing aside government"s stand that Formula One is not a sport, F1 supremo Bernie Ecclestone today said the foundation stone of the race track in India would be laid in October for the showpiece event next year.
The Sensex has erased some of its gains and is now at 17,666, up 109 points. The NSE Nifty is at 5,267, up 34 points.
World Gold Council (WGC) has announced the appointment of Ian Telfer as its new Chairman.
High prices along with floods and poor monsoon led to the fall
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 Bombay Stock Exchange (BSE) today said short selling in four scrips, including Corporation Bank and IndusInd Bank will not be available on the bourse with effect from July 31.
NIIT Technologies surged 3% to settle at Rs 130. The counter clocked a volume of 4.82 million shares as against its two-week average traded quantity of 321,073 shares.
Foreign exchange losses of Rs 22 crore in the quarter ate into the profits of Delhi-based NIIT Technologies, which posted a profit after tax (PAT) of Rs 26.3 crore for the fourth quarter ended 31 March, 2009, down 15 per cent from Rs 31 crore in the corresponding quarter last year.
India achieved the distinction of being the second-fastest growing economy amid the global recession in 2009, but the joy was marred by the decade"s sharpest rise in food prices to the chagrin of common man.
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.
Controversy continues to dog Aamir Khan starrer "3 Idiots" with the Maharashtra government today deciding to examine its content after the film reportedly inspired a ragging incident in a Mumbai medical college.
The Life Insurance industry paid 20.74 per cent higher death benefit to its policy holders at Rs 1,717 crore during the first quarter of the current fiscal.
Most private players see a decline in premium income.
Global quick service restaurant chain Domino"s Pizza is planning to hire up to 1,800 new employees during this fiscal to service its expanding chain.
Funds will have to launch products tailor-made for semi-urban, rural markets.
To increase transparency, the Reserve Bank of India (RBI) today directed regional rural banks (RRBs) to disclose the commission they receive from mutual funds and insurers for referring their products to customers.
India exports 100 million tonnes of iron ore to China.
The Department of Industrial Promotion and Policy (DIPP) under the Ministry of Commerce and Industry has proposed further relaxation of the foreign direct investment (FDI) norms for the real estate sector.
The yield on the government bonds may ease on Monday as investors await fresh cues on interest rate trend.
The stock was locked at an upper circuit limit of 5 per cent to Rs 114 after the company said its board will meet on 1 December to consider a proposal from Pramod Jain to acquire 25 per cent stake in the company.
The markets ended their four-day winning streak as global indices closed lower. The Sensex closed at 17,343, weaker by 57 points, and the Nifty closed flat at 5,169. The broader indices, however, outperformed the benchmark indices. The consumer durables pack was the leading sectoral gainer for the second day in a row while FMCG and metals showed weakness.
Volvo Trucks India today said it has increased prices of its vehicles by 3-4 per cent starting this year on account of rising input costs.
Rise in portfolio value triggers higher dividends.
Citibank today launched CitiHome One, a first-of-its-kind universal mortgage product, that would enable customers to get a home-loan as a combination of a conventional term-loan and credit line.
With inflation on the rise and projected to rise further, the real return on your fixed deposits could soon turn negative.
Religare Finvest (RFL), the non-banking finance arm of Religare Enterprises, could infuse an additional equity of Rs 650 crore in order to meet a lending target of around Rs 5,000 crore by March 2011 under its consumer business segment.
As expected, the S&P CNX Nifty closed at 5,201 levels on long rollovers in index futures and key stocks futures. The index is expected to consolidate above 5,200 in the new series before moving above the short-term target of 5,350. The rollovers in the Nifty January futures, at 22 million, were at a five-month low, which indicates that bears are waiting in the wings. At similar point in July 2009, the Nifty had gained over 500 points in a couple months to move above 5,000 in September 2009. A similar trend may see the Nifty moving above 5,500 in the near future.
The Delhi high court last week ruled that equity shares cannot be considered as liabilities under the Recovery of Debts Due to Banks and Financial Institutions Act. Therefore, a claim to issuance of shares or delivery of shares in place of debt repayment cannot be regarded as an action seeking the recovery of a debt as defined in Section 2(g) of the said Act. This ruling against the order of the debt recovery tribunal in Delhi came in the case, Cochin International Airport Ltd vs Hudco.
Aviva Life Insurance Company Limited, one of India"s leading life insurance companies, plans to come out with 3-4 new insurance products including a new Children"s insurance plan before the end of the current financial year.
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.
Shishir Prashant / Dehradun January 1, 2010, 0:23 IST
May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
Markets continue to trade subdued.
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 stock soared to a high of Rs 136 and finally ended at Rs 134, up 4% from its previous close. The counter clocked volumes of 1.75 million shares as compared to the two-week daily average traded volumes of 466,405 shares on the BSE. ______________________________________________________
The stock jumped 2.3 per cent to Rs 1,204.55 after the company said Phase-III clinical trial for its anti-diabetic molecule balaglitazone achieved the set parameters.
The markets have been virtually unchange din the past one hour. The Sensex is at 16,858, down 35 points, and the Nifty is placed at 5028, down 12 points.
Markets have once again slipped into the negative zone. The Sensex is weak and is now down 68 points at 16,285.
The Sensex has rebounded into the positive terrain and is now at 16,386, up 32 points.
The stock slipped to a low of Rs 478 and finally settled at Rs 483, down around 4% from the previous close. The counter clocked volumes of 3.17 million shares as compared to the two-week daily average traded volumes of 1.81 million shares on the BSE.
The share of SGX Nifty has risen from 2% in March to 5.9%.
The Sensex finally ended (provisional) at 17,032, up 247 points. The NSE Nifty ended (provisional) at 5,060, up 71 points.
The Centre has earmarked Rs 1,000 crore under the National Manufacturing Competition Programme in the 11th Five-Year Plan to help micro, small and medium enterprises face global competition, Minister of State for MSMEs Dinsha J Patel said.
The Union government has told the Supreme Court that the rights and obligations of NTPC and RIL could not be regarded as similar in status to the private arrangement between RIL and RNRL. In an affidavit filed yesterday in the appeals by the Ambani brothers on their gas dispute, the government stressed that NTPC “is not only a public sector undertaking but the process involved for price determination in the case of NTPC gas was by international competitive bidding.”
Government today filed its affidavit in the Supreme Court on the ongoing gas row between the Ambani brothers saying that the arrangement for public sector NTPC cannot be equated with any agreement between RIL and RNRL.
The Sensex has come off from the day"s high and is now at 17,203, up 71 points. The NSE Nifty is at 5,106, up 15 points.
As part of its special audit on selected companies, the Department of Telecommunications (DoT) has told Bharti Airtel to provide all required information to the auditor by December 14.
94% foreign investment in aerospace alone.
The government today approved road projects worth Rs 6,152 crore in five states for upgrading nearly 562 km of four-lane highways into six lanes.
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.
Sun Pharmaceutical Industries, India’s largest drug firm in terms of market capitalisation, posted a 11.49 dip in net profit during the quarter ended September 30, compared with the same period last year, due to regulatory issues and the resultant loss of revenue for its US subsidiary, Caraco Pharmaceuticals.
US markets were mixed on Wednesday. The Dow slipped 19 points to 10.452 on weak energy shares. The Nasdaq, however, added nine points to 2,185.
To lure the Business Process Outsourcing and IT/ITeS industry, the Mayawati government in Uttar Pradesh has showered various sops. The realty sector, too, has been blessed with many relaxations.
The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has issued offer letters, so far, to an Indian and two American companies for setting up solar power plants at Kadiri in Anantapur district where it has earmarked an area of 5,000 acres for allotment to solar power projects.
Sunanda K Datta-Ray / New Delhi October 10, 2009, 0:34 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.
Indian Overseas Bank today reported 51 per cent decline in its net profit at Rs 176.04 crore for the second quarter ended September 30, 2009.