Corporate
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 Supreme Court today issued notice to the Centre and Maharashtra government on a petition seeking laying down of security guidelines for hotels to avoid any terror attack like the 26/11 strikes in Mumbai.
Punjab-based ABC Paper has put on hold its plan to set up a new agro-based facility with an investment of Rs 1,000 crore in view of sluggish demand and said it would rather stabilise existing operations.
Based on the market feedback, both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have decided to postpone the implementation of new markets timings by more than a fortnight.
Shares of Voltas spurted 20.55 per cent to Rs 118.2 on announcement of decent FY09 results. Net profit for the year ended March 31, 2009, increased by 21 per cent to Rs 251.40 crore, while total income rose 34 per cent to Rs 4,361.72 crore during the period.
In a first at the National Institute of Design (NID), academic profiles were offered to the graduating batch of young designers during placements this year. The annual industry interface at NID campuses in Ahmedabad and Gandhinagar saw around 70 firms visiting the campus. Apart from academics, profiles in auto design, apparel design, retail, and product design were offered by some of the biggies like Honda R&D, Bajaj Auto, LG, Madura Garments, TAFE, Luxor, Godrej Industries Limited, and Godrej & Boyce Manufacturing.
Bajaj Auto ended at Rs 1,724, higher by Rs 81 or 4.9%, on the BSE, accompanied by a surge in volumes.
Bajaj Auto, whose name has been synonymous with scooters in India for decades, will stop producing the vehicle in the next three months. The company sells 300 automatic scooters every month under the brand name, Kristal.
Mansi Taneja / New Delhi October 30, 2009, 0:18 IST
Amid a spate of attacks on Indians here, the Victorian government today said it will provide all relevant details to New Delhi on these incidents.
Rex Cano / Mumbai December 09, 2009, 9:22 IST
Stocks rose around the world and commodities rallied as Australia unexpectedly increased interest rates, the first Group of 20 nation (G-20) to do so since the recession began, amid evidence the recovery is gathering momentum.
Australia today became the first advanced economy to raise interest rates since the global financial crisis and promised more rises to come, declaring the risk of recession over.
Hershey Co’s controlling trust wants the candy company to make a $17 billion bid for British confectioner Cadbury Plc, the Wall Street Journal reported, citing unidentified people familiar with the matter.
The Blackstone Group, the global private equity giant, today said that it had pumped in an additional $23 million (around Rs 110 crore) into Allcargo Global Logistics.
Rolls-Royce thinks India will be a good market for its new luxury car, the Ghost
The markets have resumed their upmove after retreating on Monday. The Sensex has again crossed the 17k mark to 17,045, higher by 62 points, and the Nifty is at 5,090, up 23 points. Metals, energy and realty stocks are in the limelight.
State governments in India have thrown caution to the winds and are rushing to attract FDI into export-oriented manufacturing and service industries by establishing Chinese-style special economic zones (SEZs) which are quite damaging for the society, says a new book.
Swine flu scare seems to have kept away many foreigners from visiting India, as there is a downward trend in tourist arrivals.
State governments in India have thrown caution to the winds and are rushing to attract FDI into export-oriented manufacturing and service industries by establishing Chinese-style special economic zones (SEZs) which are quite damaging for the society, says a new book.
Titan Industries Ltd (TIL), the major producer and retailer of watches and jewellery industry, is planning to open 22 new stores of its ‘World of Titan’ retail chain of outlets in major cities across the country by the end of current FY 2009-10. Moreover, the company has just opened its 2nd store in Nashik.
The echo of India’s controversial Rs 10,000-crore Barak surface-to-air missile deal with Israel is being heard in faraway London. According to a leading London newspaper, “One of the Liberal Democrats’ most generous donors has been accused of accepting tens of millions of pounds in kickbacks from an arms deal between an Israeli company and the Indian Government …” The newspaper quotes Indian sources to say the payments were disguised as ‘business charges’ since India officially prohibits the use of middlemen in defence deals.
When the IIMs decided to award the contract to Prometric for conducting the Common Admission Test (CAT) online, and Pearson bringing its assessment brand to India, it must have been a wake up call for MeritTrac, a large assessment company. But, the company is not losing sleep.
Liquor baron Vijay Mallya today said his UB Group will overtake Diageo as the world"s largest spirits maker by the next fiscal.
An expected dip in its global sales notwithstanding, luxury car-maker Porsche is hoping for a nearly 20 per cent jump in sales in India this year. Working towards that direction, the company had earlier introduced the premier sedan, Panamera, in the country in the price range of Rs 1.4-2.05 crore.
Jindal Power Ltd, a part of Jindal Steel and Power Ltd (JSPL), today said it plans to raise Rs 7,200 crore from its initial public offer (IPO).
The robust growth in net profit in the second quarter seems unlikely to be repeated soon for cement companies, as prices in the south and west have been falling since October, with the increase in supply outstripping demand.
The Pension Fund Regulatory Development Authority (PFRDA) is taking ing various measures to increase the number of subscribers under its New Pension Scheme (NPS). It is in discussions with the General Insurance Council, various industry bodies and companies to offer the plan to their employees. Under the recent deal between the Indian Banks’ Association (IBA) and the pension regulator, all new recruits of banks will join the defined contribution system from April 1, 2010. Already 20 nationalised and 12 private sector banks have joined the new system.
After increasing it four times in a row, the state-run oil firms today cut jet fuel prices by 5.7 per cent on easing international rates.
ICICI Merchant Services, the newly-formed joint venture (JV) between ICICI Bank and First Data Corporation (FDC), plans to expand its Point-of-sale (PoS) terminal network to 500,000 over the next five years, according to a senior FDC executive.
Leading car makers are considering to raise prices of their vehicles across the board, if the government withdraws the excise duty benefit in the coming Budget. The benefit was given as part of a stimulus package in December 2008, following the onset of the global economic meltdown.
Leading car makers are considering to raise prices of their vehicles across the board, if the government withdraws the excise duty benefit in the coming Budget. The benefit was given as part of a stimulus package in December 2008, following the onset of the global economic meltdown.
It surely took a long time coming, but now that it has, it’s got top clearance from us. Ladies and gentlemen, say hello to our Bike Of The Year 2010 — the Kawasaki Ninja 250R! While there was an impressive list of opponents to the Ninja, none of them could handle going toe-to-toe with the Japanese warrior. And it wasn’t just its bright green colour either. But more on the Ninja later; let’s see who it was up against, shall we?
TECH TONIC
Vinayak Chatterjee / New Delhi December 21, 2009, 0:46 IST
Leading IT-based security solutions developer, Micro Technologies (India) Ltd, today announced the launch of Micro Jai-Kisan, an innovative device for farmers.
Vandana Gombar / New Delhi January 08, 2010, 0:45 IST
Universal Cables Limited, belonging to the M P Birla group, has clocked in a net profit of Rs 6.95 crore for the quarter ended September 30, from a net loss of Rs 1.37 crores in the corresponding quarter of the previous year. Net sales were at Rs 130.11 crore against Rs 157.96 crore in the previous corresponding quarter. D R Bansal, chief executive officer, attributed this performance to the initiative of putting up a vertical continuous vulcanization line for the manufacture of XLPE cables up to 400 kV in technical collaboration with Furukawa Electric Co Ltd, Japan.
Shilpy Sinha / Mumbai January 5, 2010, 0:12 IST
The Indian Auto Gas company, engaged in distributing LPG for automobiles, plans to set up 1,000 gas filling stations across the country over a three-year period at a cost of Rs 700 crore, a top company official said.
The stalemate over the Railways’ proposed coach factory at Singur is likely to continue with the West Bengal government on Tuesday indicating that it will wait for a firm proposal from the Rail Board before approaching its tenants for terminating the contract covering 997 acres at the former production site of the Tata Nano.
The Nifty faced resistance above 5,200 and closed below the trend-line resistance level of 5,182 on profit-booking at higher levels. The market will remain closed tomorrow and on Monday. Rollovers in the January futures were substantially lower at 10.22 million shares, with only three trading sessions left for the expiry of the December series. So we may see strong carry forward of positions.
Finance Minister Pranab Mulkerjee today said a balance has to be stuck on the issue of continuity of the stimulus packages.
At a time when Karnataka has been struggling to attract investments, Tamil Nadu has attracted investments worth Rs 15,000 crore during 2009, majority of which was driven by the automobile industry. According to government sources, since 2006 investments worth Rs 46,100 crore have come into Tamil Nadu.
Will launch the one-tonne LCV at Delhi auto show on Jan 5.
This is one luxury Bangalore can afford not to have. The city is set to add the highest number of “keys” in the upscale rooms category at a time when demand is not so certain.
Around Rs 11,088 crore are being circulated via chit fund schemes in the southern states of Tamil Nadu, Andhra Pradesh and Kerala. Around 58 million house holds have participated in chit fund schemes, according to a recent study released by Institute for Financial Management and Research (IFMR). The study was funded by Bill Gates foundation Bill and Melinda Gates Foundation.
US network equipment major Cisco will be acquiring Norway-based video communications entity Tandberg in an all cash deal worth $3 billion.
Business Standard / New Delhi November 22, 2009, 0:05 IST
Russians may still be humming their all-time favourite song — mera joota hai japani — but they are now choosing to buy Hindustani in big numbers.
The benchmark indices rose for the second straight day today with S&P CNX Nifty closing at a 22-month high of 5,278. Nifty January futures closed at a premium to the spot and added 1.05 million shares in open interest through buy-side trades, indicating fresh long build-up. However, the Nifty remained range-bound after opening at higher levels.
The global car market, which has suffered acute demand contraction since September 2008 when economic downturn set in, has bottomed out and the industry was set for a sale of 60 million units in this year and the next, said Renault-Nissan Chairman Carlos Ghosn.
Work on Metro projects in Hyderabad, Jaipur, Kochi is expected to start shortly.
Eyeing the forthcoming Commonwealth Games in India as an opportunity to promote tourism in the state, the Haryana government has decided to introduce a bed-and-breakfast scheme.
Realising the enormous business potentials of Commonwealth Games 2010 in Delhi, Birmingham City is keen to further the trade ties with India through the mega-sporting event.
Cellular service provider Tata Teleservices today said it has become the top grosser of subscribers for the third consecutive month, with over 3.8 million new mobile users in October.
India may soon ban import of ‘Made in China’ mobile phones that lack the unique IMEI number, which helps authorities track people carrying these devices. Mobiles phones without the International Mobile Equipment Identity (IMEI) number are considered a grave security threat and concerns had been raised over their usage after terrorist attacks, like the one in Mumbai in November last year. IMEI is a 15-digit code which appears on the operator’s network whenever a call is made.
India may soon ban import of "Made in China" mobile phones that lack the unique IMEI identification number, which helps authorities track people carrying these devices.
Cost pressures due to rising input prices may hit profitability.
Kerala-based South Indian Bank (SIB) has registered 55.64 per cent growth in net profit at Rs 60.11 crore for the first quarter of the fiscal.
Indian stocks rose, led by steel and car makers, after the government said sales of the alloy to auto manufacturers rose in the first seven months of the financial year.
The country"s second-largest car maker Hyundai Motor India today said it would invest $40 million for setting up an R&D centre in India next year.
R Gopalan, a 1976-batch IAS officer, has been appointed as the Financial Services Secretary in the Finance Ministry.
A year after India ushered in reforms in 1991, C Rangarajan, then a member of the Planning Commission, was picked by then Finance Minister Manmohan Singh to steer Reserve Bank of India for five crucial years till 1997. Then, Rangarajan, who had taught in University of Pennsylvania and management institutes in India, headed the Twelfth Finance Commission, which paved the way for fiscal consolidation, and also the Prime Minister’s Economic Advisory Council (and was, for five years, Governor of Andhra). In an interview with Sapna Dogra Singh and John Samuel Raja D, he says there are some encouraging signs in the economy, but the real recovery will come only in 2010-11.
It’s now the turn of the appreciator and the collector
The committee set up to look into the issue of regulating investment advice would submit its report to the government by the month end.
Utility vehicle maker Mahindra & Mahindra(M&M) is banking on leveraging its popular Bolero brand to expand its presence in the pick-up segment, where it is currently the market leader with an 85 per cent market share.
Auto major Mahindra & Mahindra today reported 18.72 per cent growth in its total automotive sales in June at 22,999 units compared with 19,371 units in the corresponding month last year.
The sugarcane growers of Uttar Pradesh have declined the state government’s offer of selling their produce at Rs 160-170 a quintal, a rate less than what their counterparts in Uttarakhand are getting.
Wipro finally ended at Rs 625, up 1% from the previous close and Infosys settled flat at Rs 2,323.
Expectations are on the rise that the second term of chief minister YS Rajasekhara Reddy would give a boost to the manufacturing sector with the state bagging four major projects, including two manufacturing units, involving an investment of Rs 8,750 crore in the past fortnight.
The government today said it is looking at steps to cut subsidy on fertiliser and oil sale with an aim to cutting non-Plan expenditure and contain fiscal deficit.
Global lender HSBC is in advanced talks to buy assets of two troubled financial groups — ING and RBS in Asia in a move to expand its base in the region, says a media report.
Trinamool Congress, Left blame each other for starting violence
Is it just a means to retain his sprawling bungalow on Janpath, or is it part of a larger game plan? Whatever, for now Lok Janshakti Party chief Ram Vilas Paswan, who keeps getting a notice to vacate his bungalow since he is no longer an MP, is going to stand for a Rajya Sabha seat with the support of Rashtriya Janata Dal chief Lalu Prasad. Prasad hopes to exploit Paswan’s Dalit appeal — interestingly, the Congress party also plans to support Paswan for the same reason.
Shree Renuka Sugars has applied to the NCDEX for surrendering its trading membership, which will pave the way for the country"s leading sugar refiner to buy 5 per cent stake in the exchange.
Sreelatha Menon / New Delhi October 27, 2009, 0:11 IST
As a precautionary step against swine flu, Aditya Birla Retail has provided its employees with masks to be worn in stores and is making sure they get treated even for a mild disorder.
With bank deposit rates in a free fall for the last one year, company fixed deposits have started finding many takers.
Private carrier Jet Airways" plan to raise funds from international institutional investors will come up for approval by the Foreign Investment Promotion Board this week.
India is back on the radar of global investors even in the midst of the global financial crisis, with 56 per cent year-on-year rise in inflows of foreign direct investment in July this year, an official said.
The Chennai-based Indian Overseas Bank (IOB) intends to go for Business Process Re-engineering (BPR) of its operations as a performance boosting measure.
Indiabulls Power IPO was subscribed 5.95 times on combined (BSE +NSE) basis.
Finance Minister Pranab Mukherjee today said it is premature to "exit" the fiscal stimulus as the global economy is not showing robust recovery, but was optimistic about economic growth.
ICICI Bank today said it would reduce its stake in BPO company Firstsource in a phased manner, even as there are reports of appointment of a merchant banker for exiting from the outsourcing company.
Public sector Indian Overseas Bank today said it will raise an amount totalling to Rs 800 crore by issue of bonds on private placement basis.
Global technology and consultancy giant Accenture today said it is going to add around 8,000 people in India by the end of next year taking its total employee base in the country to 50,000.
A day after Steel Authority of India Ltd (SAIL) reduced flat steel prices, private steel makers — JSW Steel, Essar Steel and Ispat Industries — have followed. Ispat has cut prices by Rs 1,000 a tonne, while Essar Steel has reduced by Rs 700-1,000 a tonne.
Indian Overseas Bank (IOB) has reported a 17.90 per cent increase in the net profit for quarter ended June 30, 2009 at Rs 301.78 crore as compared to Rs 255.97 crore, during the same quarter a year ago. Bank"s total income rose to Rs 2,808.51 crore from Rs 2,186.83 crore, an increase of 28.43 per cent.
Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the food price inflation would come down by the end of the current fiscal.
Upon the advice of many people, I liquidated all my investments to book profits by June-end. I was waiting for markets to correct and now I am cursing all those who gave free advice to book profits. My money in a savings bank account is earning 3.5 per cent. Should I invest right now or wait until the bears take over? -Manjunath
My broker has advised me to invest a lumpsum amount in a Monthly Income Plan (MIP). In the current scenario where interest rates are expected to rise, should I do so? Also, should I invest in more than one MIP for diversification?
Business Standard / New Delhi November 06, 2009, 0:34 IST
ICICI Prudential AMC has emerged as the top earner by providing a return of 8.73 per cent on the EPFO funds, invested by the private fund house during the nine months period ended June 30.
Sanjaya Baru / New Delhi November 4, 2009, 0:58 IST
A Parliamentary panel today pulled up the Finance Ministry for its failure to take timely action to contain inflation and asked the government to take immediate steps to provide relief to common man reeling under rising food prices.
Business Standard / New Delhi December 22, 2009, 0:28 IST
A Parliamentary panel today pulled up the Finance Ministry for its failure to take timely action to contain inflation and asked the government to take immediate steps to provide relief to common man reeling under rising food prices.
State-run gas utility GAIL India has sought $0.18 as marketing margin to make up for the effort it undertakes to sell natural gas, Petroleum Minister Murli Deora said today.
Business Standard / New Delhi December 21, 2009, 0:39 IST
With the Indian economy regaining its robustness, the Income Tax Department has collected an additional Rs 2,477 crore from the top 90 advance taxpayers in the third quarter (October- December) this financial year.
The Centre is toying with the idea of allotting land lying idle with various non-functional state-run fertiliser and cement firms to companies like ArcelorMittal and Posco, which are facing problems in acquiring land for their proposed plants.
Constitutional amendment to be basis of new tax regime.
Ruing over the lack of skilled manpower, human resource (HR) professionals said, during a management conference, that more interface between educational institutions and industry should take place. Organised by St. Kabir Institute of Professional Studies (SKIPS), Ahmedabad, the conference focused on "Adding Lasting Value in Uncertain Times...through Human Capital Leadership".
Mukesh Ambani, India’s richest man and chairman of the country’s largest private sector company, Reliance Industries, has been ranked the fifth-best CEO in the world by Harvard Business Review.
The two-month-long arguments in the legal dispute on gas supply between RIL and RNRL ended today, with the central government’s counsel firing salvoes at both the warring Ambani brothers for apportioning shares in public property.
After a gap of almost a year, the government may resume releasing monthly figures on indirect tax collections this month onwards. The Central Board of Excise and Customs (CBEC), working under the Ministry of Finance, is planning to release next week the excise, customs and service tax collection data for October.
Latha Jishnu / New Delhi December 10, 2009, 0:10 IST
The Sensex has ended (provisional) at 17,562 - up 97 points.
Concerns about Dubai’s potentially crippling default on enormous debts to global creditors have rattled investor confidence across the oil-exporting Gulf region but Abu Dhabi will come to the rescue, says a leading economist in the region.
After many denials and protracted bargaining with several buyers, pharma major Wockhardt sold 10 of its hospitals to Fortis last week. The hospitals sale came within two months of the company selling its German business Esparma for an undisclosed amount.
Beginning today, all letters posted by the Institute of Cost and Works Accountants of India (ICWAI) this week will carry a special sticker that ‘celebrates corporate week’ on its envelopes. Similarly, all hoardings that will come up on the premises of ICWAI’s 95 regional councils and chapters across the country will call for the celebration of the country’s first ‘corporate week’.
The Centre is toying with the idea of allotting land lying idle with various non-functional state-run fertiliser and cement firms to companies like ArcelorMittal and Posco, which are facing problems in acquiring land for their proposed plants.
Your tax burden has just gone up, with the government today issuing the new guidelines for taxation of perquisities. In fact, it could be a double whammy, as you have to pay the additional tax liability for the whole of this financial year over the next three months.
Oil and Natural Gas Corp (ONGC) and its partners will invest about $10 billion in two giant gas fields and an LNG project in Iran, Iranian Deputy Oil Minister Seifollah Jashnsaz said.
Samruddhi Cement, a wholly-owned subsidiary of Grasim Industries, is all set to merge with UltraTech Cement – Grasim’s another subsidiary, on July 1, 2010. The merger, to be completed by September 2010, will result into world’s tenth-largest cement maker.
Kirtika Suneja / New Delhi December 07, 2009, 0:16 IST
Hindustan Petroleum Corporation (HPCL) will invest Rs 6,900 crore to upgrade its diesel quality to Euro III and IV.
Indian Olympic Association chief Suresh Kalmadi was today re-elected unopposed as the president of Asian Athletic Association (AAA) in Guangzhou, China, to serve his third consecutive term at the office.
The Andhra Pradesh government has decided to ask the Union government to order an inquiry by the Central Bureau Investigation (CBI) into the alleged illegal mining of iron ore by Obulapuram Mining Company (OMC) in the Bellary reserve forest of Anantapur district.
A three-member team of United States Securities and Exchange Commission (SEC) exchanged information with CBI, which is probing the multi-crore accounting scam at Satyam Computers here.
State-run Indian Oil Corporation (IOCL) has proposed to double its investments on its Research and Development in order to develop newer technologies, a top company official said today.
The Orissa cabinet today approved a proposal of the Orissa Power Generation Corporation (OPGC), a joint venture between the Orissa government and the AES, to adopt super critical technology with a configuration of 2X260 Mw and sharing of power for the proposed expansion of unit 3 and unit 4 of the Ib Thermal Power Station of OPGC.
Timothy Geithner / November 1, 2009, 0:58 IST
P Chidambaram / New Delhi October 25, 2009, 0:58 IST
With retailers downsizing operations, many senior executives from fast-moving consumer goods (FMCG) and telecom who had jumped on the retail bandwagon a couple of years ago are making a quiet comeback.
The issue concerning foreign ownership in Indian banks is currently under discussion among the finance ministry, commerce and industry ministry and the Reserve Bank of India (RBI) and is likely to be resolved soon.
Broadcasters are increasingly opting for non-exclusive rights of films this year.
Millions of fans of Hindi movies will soon be able to watch their favourite Bollywood films in multiplexes, with highly-placed sources in the film production and exhibition business saying a resolution is expected before June 12 to the two-month dispute over revenue-sharing between producers, distributors and multiplex owners.
The industry minister Raghunath Mohanty today urged the Central Public Sector Undertakings (CPSUs) in the state to register at least 100 vendors under their wing within a year to facilitate growth of the Micro, Small and Medium Enterprises (MSMEs).
Business Standard / December 27, 2009, 0:21 IST
Long delays in environment and forest clearances are turning out to be a major hindrance to implementation of various development projects.
A contentious statement on Indian poverty, put out some years ago by Arjun Sengupta, said that 78 per cent of Indians lived on less than Rs 20 a day. That figure always looked problematic, but has become a favourite statistical weapon in the hands of the Left. So it is just as well that the Suresh Tendulkar report on poverty has effectively nailed that number. The Tendulkar report says that 25.7 per cent of urban residents are below the new definition of the poverty line, because they spend less than Rs 578.80 per month. That is Rs 19/day, close to the Sengupta benchmark. Given the urban-rural mix of 28:72, if the Sengupta claim of 78 per cent for the country as a whole (urban and rural) is correct, then 92 per cent of all rural residents would have to be consuming less than Rs 20/day.
Over 27 per cent of the population in the country were living below poverty line during 2004-05, government said today.
With the PE ratio up three times since November last year, valuations are far from cheap.
Learn lessons from Jharkhand
Haryana Finance Minister Capt Ajay Singh Yadav has directed the financial commissioner and principal secretary, urban local bodies, that the matter could be taken with the Government of India to increase the allocations under JNNURM and Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSSMT). The finance minister was reviewing the progress of central sponsored schemes with the officers of finance, public health and urban local bodies department. These schemes were being launched in the state for the welfare of all sections of society.
Nearly two years after Amitabh Bachchan laid the foundation of a girls college named after his daughter-in-law and actress Aishwarya Rai in Barabanki district, legal formalities have been completed to transfer the land to the organisation building it.
Imagine you are having dinner with some friends, and in walks Shahrukh Khan or someone equally famous. You get a picture clicked with him and want to share it with the world instantly. But how do you go about it since you can’t possibly wait till you get home and transfer the pictures to home PC.
The sales of luxury car maker Mercedes Benz have dwindled in Punjab and Chandigarh this year, primarily due to short supply.
The largest private sector lender ICICI Bank can soon operate as a local bank in Singapore, following an in-principal approval from the city-state.
The stock gained 3.2 per cent to Rs 253.80 after the company announced that it entered a joint venture agreement with NTPC, Power Grid Corporation of India and Rural Electrification Corporation for formation of a public limited company.
Indian civil society organisations have opposed a reported move by global drug procurement agency UNITAID to exclude countries such as China, Brazil and India from a proposed patent pool for AIDS drugs.
Sreelatha Menon / New Delhi November 1, 2009, 1:01 IST
Mahanadi Coalfields Limited (MCL) has entered into a memorandum of understanding (MoU) with National Informatics Centre Services Incorporated (NICSI) and National Informatics Centre (NIC) of Government of India for providing e-procurement services to MCL on a long term basis.
Kishore Biyani-promoted Future Group is expanding its private labels in various categories with plans to launch more products in new segments, such as toothpaste, as part of plans to become a Rs 25,000 crore conglomerate by 2013-14.
The Supreme Court has issued notice to 11 parties, including Trai, Reliance Communications, Tata Teleservices, Vodafone Essar, on a petition by state-run BSNL challenging removal of Access Deficit Charge (ADC), a levy paid by private telecom operators for funding the PSU"s operations in rural and remote areas.
Samsung India Electronics (SIE) is eyeing a 30 per cent market share in the CDMA handset space, which is expected to be around 16 million units next year, said Hendrick Lee, vice president – hand held products division, SIE.
India"s first multinational in water treatment business VA Tech WABAG today said it will aggressively pursue global acquisitions to grow faster and has the capability to muster over Rs 2,000 crore for the purpose.