Online Business
Most fast moving consumer goods (FMCG) companies have a two-pronged strategy to tap rural markets. It comprises launching nano packs and scaling up rural distribution. Godrej Consumer Products Ltd (GCPL) is going a step further by adding a regional advertising component.
The US firm has sold its non-food business worldwide, but its Indian JV retains the rights for Kiwi, Brylcreem and Ambi Pur
Seema Sindhu / October 31, 2009, 1:17 IST
Godrej Consumer Products Ltd (GCPL), the fast moving consumer goods (FMCG) company, showed a consolidated net profit of Rs 93 crore for the quarter ended September, almost three times the Rs 34.7 crore figure posted in the corresponding quarter last financial year.
FMCG major Dabur has alleged that US-based firm Aveda, which manufactures and sells Ayurvedic cosmetic products, is infringing on the trademark of its skincare range.
Internet search major Yahoo! today appointed Arun Tadanki as the managing director of its India operations.
The proceeds from disinvestment of NHPC and OIL will be allocated for capital expenditure in identified social sector schemes, Finance Minister Pranab Mukherjee informed the Lok Sabha today.
Mihir Mishra / New Delhi November 11, 2009, 0:30 IST
Public sector Bank of Baroda (BoB) today said its consolidated net profit jumped 54 per cent to Rs 2,384.08 crore in the financial year ended March 31.
Bank of Baroda (BoB), the country"s third-largest public sector lender, is planning to recruit 3,500 people including officers during the current fiscal.
Public sector lender, Bank of India (BoI), has slashed its deposit rates by 0.25-0.5 per cent across various tenures, effective from Monday.
Delhi-based wellness chain VLCC will soon float its Initial Public Offer (IPO) to raise funds for expansion.The company had earlier postponed the IPO due to adverse capital market conditions following the global meltdown.“We are on with the IPO plan for expansion,” VLCC regional operations head Surabhi Singh said.VLCC is looking at investing Rs 400 crore on expansion in near future. It has 225 centres in 75 Indian cities, besides 10 international centres in the UAE, Oman, Bahrain and Nepal.
In a move aimed at rationalising foreign direct investment (FDI) in various areas of the broadcasting sector, the Department of Industrial Policy and Promotion (DIPP) has proposed to increase the FDI cap for direct-to-home (DTH) services, uplinking hubs, teleport services and FM radio.
Making a u-turn, Praja Rajyam chief Chiranjeevi today announced his decision to resign as MLA and support a united Andhra Pradesh, changing the party"s earlier line of support to separate Telangana state.
Arvind Singhal / New Delhi December 17, 2009, 0:02 IST
Two-wheeler manufacturer Bajaj Auto has set sight on securing the top spot in the world and a blueprint was being drawn, a top company official said today.
Gammon Infrastructure Projects today said it has entered into an agreement with the Spain-based Dragados for acquiring the firm"s stake in Indira Container Terminal Pvt Ltd (ICTPL) in phases.
Cash-strapped Air India is focussing on cost reduction of Rs 1,500 crore and revenue enhancement of Rs 1,200 crore as per its turnaround plan and the government would infuse equity into the airline in the next few years, the Rajya Sabha was informed today.
With almost all the proposed IT projects in the city being non-starters, the emergence of Bhubaneswar as one of the most sought after IT destinations among the Tier-II cities in the country is under a cloud.
Catering to the needs of premium job seekers earning Rs 15 lakh or more annually, Info Edge promoted job portal Naukri.com has added an exclusive section called Rs 15 lakh plus jobs. Offering over 8,000 premium jobs with Rs 15 lakh and over annual cost to company from various sectors, this all-new section was launched two weeks ago.
Vinayak Chatterjee / New Delhi December 21, 2009, 0:46 IST
All the hot metal you will be seeing at the 2010 Auto Expo next week!
Chennai-based auto maker TVS Motor Company today said it will showcase a range of vehicles, including different hybrid models, at the 10th Auto Expo starting here from January 5, 2010.
The Nano is a small car from a big idea. The people’s car attained immortality the moment it was unveiled at the Auto Expo in New Delhi, causing a seismic shift in the automotive world. The rest of the world’s automakers drew in their collective breaths when it was announced that Tata was going ahead with producing the car. Then they all scrambled to go into that unknown territory that Tata Motors has already bravely ventured into.
Will launch the one-tonne LCV at Delhi auto show on Jan 5.
The last Auto Expo in January 2008 in New Delhi drew 1.8 million visitors. The 2010 edition scheduled at Pragati Maidan here, from January 5-11, is expected to draw close to 2 million visitors, which would make it the largest auto show in the world.
Biofuels have a limited role in India due to land limitation and food security issues, Environment Minister Jairam Ramesh said today, a view which differs from the official line pushing for a 20 per cent blend of such fuel in gasoline and diesel by 2017.
Auto makers Maruti Suzuki, Hyundai and Hero Honda today reported robust sales in November, lending optimism that the good economic showing in the second quarter would continue.
Auto component maker Bharat Forge today reported 96.38 per cent decline in its net profit at Rs 96 lakh for the quarter ended June 30, 2009, over the same period last year.
Brace for short-term correction.
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.
Media company UTV Software Communications today reported a consolidated net loss of Rs 23.33 crore for the quarter ended June 30, 2009, against a net profit of Rs 19.88 crore in the same period last year.
A better product mix, easing of cost pressures and better procurement helped consumer electronics and lightings manufacturer, Bajaj Electricals register a consolidated net profit increase of 64 per cent per cent for the quarter ended June 30, 2009, to Rs 16.4 crore, compared with Rs 10 crore in the corresponding quarter of the previous financial year.
India"s biggest sugar refiner, Shree Renuka Sugars has reported a standalone net profit of Rs 48.2 crore, an increase of 298 per cent during the quarter ended September 30, 2009 as against the net profit of Rs 12.1 crore posted in the same period a year ago.
Gold prices rose sharply at the bullion market here today due to fresh buying from stockists and retailers following a firm trend in global markets.
Conceding that WPI-based inflation was not reflecting the rising prices adequately, the government today said the new mechanism has been devised to provide a better picture of the price situation.
It’s simply impossible not to have heard about Facebook. For over five years, this highly successful social networking site has become the definitive place for young adults to upload details about their day-to-day life.
"Saffronart", a leading art auction house in the city will host its annual summer online-art-auction of "Modern and Contemporary Indian Art" comprising works of 57 noted artists on June 10 and 11.
I have invested in an SIP of HDFC Top 200 since 2005. Do I need to stop and start afresh , so that it does not attract entry load. Kindly advise.
A K Bhattacharya / New Delhi November 4, 2009, 0:10 IST
A four-member committee to shortlist the candidates.
Asian markets ended in the green today. The Hang Seng, dropped from its intra-day high to end with a gain of 115 points at 22,412.
Yields on 10-year government securities are expected to touch 8 per cent, thanks to expectations of an end to easy-money policy, prospects of large government borrowings and rising inflation.
A mid-year review of the economy by the government today stressed the need for urgent action to contain the rising prices of food articles, hitting the common man hard.
The interim pension regulator, Pension Fund Regulatory and Development Authority (PFRDA), today said it has sought funds from the Finance Ministry for spreading awareness about retirement savings and a provision for the same is expected in the upcoming Budget.
Global commodities experienced a steep fall today, as investors and hedge funds across regions unwound their long positions after the news of Dubai’s debt crisis. Most commodities were down today between three and five per cent as the dollar strengthened. In late afternoon trade, however, prices recovered.
Drug maker Wockhardt today said it has been chosen as the pharmaceutical company for the maximum number of patent filings and grants from India.
India was the UAE"s top trading partner last year with non-oil trade totalling $32.11 billion, the data by the UAE Ministry of Foreign Affairs has showed.
The activities of foreign institutional investors (FIIs) with long build-up in the Nifty futures and short-covering in stock futures during the week ended September 13 augur well for the market. The Nifty is expected to hit a new high in the coming week if it crosses a crucial resistance at 5,060. On the downside, 4,940 is a healthy support level and, below that, 4,860 is the crucial support level. The Nifty rose over four per cent during the week largely due to short-covering from foreign investors in the Nifty and stock futures.
Pump manufacturer Kirloskar Brothers today said it has acquired controlling stakes in four companies.
Construction work on the onshore LNG terminal, coming up at Puthuvype, near here will be completed by December, next year.
India may be looking at Qatar for a ‘sweetheart’ gas deal, but Doha appears in no mood to sell liquefied natural gas (LNG) at anything less than $9-11 per mBtu — at more than double the domestic gas price.
Prime Minister Manmohan Singh may deliberate on freeing auto fuel prices when he reviews the financial health of state-run oil firms with Finance Minister Pranab Mukherjee and Oil Minister Murli Deora on January 13.
Things are looking up for the DTH business. Why, then, is everybody so glum?
A new battlefront has opened between multiplexes and big banner production and distribution houses. Ignoring the revenue concerns of the multiplexes, Reliance Big Pictures, Percept Pictures, UTV Movies and Dharma Productions want to release their new films on direct-to-home (DTH) television shortly after their release on theatre screens.
Fresh power capacity addition has fallen short of target by over a fourth in the current calendar year, owing to delays in supply of critical components for thermal projects, delayed forest clearances and non-availability of fuel for nuclear projects.
Suven Life Sciences Limited, a Hyderabad-based biopharmaceutical company specialising in central nervous system (CNS) diseases, has presented the clinical Phase-I data for its SUVN-502 drug at the 2009 Alzheimer’s Association International Conference in Vienna, Austria.
Autism awareness is growing, as the increasing number of cases shows
Rajesh Bhayani / Mumbai January 30, 2010, 0:05 IST
Chinese firm Meijin leads the bidding war with $176-mn offer.
Move to be part of a global expansion plan
India has requested the US Securities Exchange Commission (SEC) not to impose any fine on Mahindra Satyam, formerly Satyam Computer Services Ltd (SCSL), as this will impede the new entity’s rehabilitation.
Dish TV, the direct-to-home (DTH) arm of Subhash Chandra’s Essel group, will raise Rs 1,000 crore from foreign markets, issuing foreign currency convertible bonds (FCCBs) in a month.
Tata Group Chief Ratan Tata today termed the buyout of Jaguar and Land Rover (JLR) as a "terrific decision" and hoped to bring back glory for the luxury brands.
Rajya Sabha MP and telecom entrepreneur Rajeev Chandrasekar on Thursday said the Telecom Regulatory Authority of India (TRAI) should not intervene in the ongoing price war between mobile telecom service providers.
Bhupesh Bhandari / New Delhi December 18, 2009, 0:26 IST
MBL Infrastructures touched a high of Rs 218 and a low of Rs 190. It finally ended near its high at Rs 206 - with 14% gain over its issue price of Rs 180.
Decrease in fuel prices in the Mumbai licence area pulled down Tata Power"s revenues in Q1 FY10 to Rs 2,015.62 crore as against Rs 2,026.13 crore.
Somany Ceramics, one of the leading ceramic manufacturer in India, the profit before tax recorded an increase of 105.5 per cent rising to Rs 5.28 crore from Rs 2.57 crore in the same period last year. The company reported an increase of 19 per cent in net sales to Rs 99.59 crore as against Rs 83.75 crore in the corresponding quarter last year.
British banks fear their fragile recovery will grind to a halt over the next few months, according to a survey by employers" organisation the Confederation of British Industry (CBI).
Director Vishal Bharadwaj’s repeated references to it have spawned a new interest in Dekalog.
Communications Minister A Raja is pushing an innovative plan under which vendors which supply equipment for 3G mobile services to state-owned Bharat Sanchar Nigam Ltd (BSNL) will share the bill for advertising and marketing the services in the first six months of the launch.
Says allocation will be at market-determined prices.
Surajeet Das Gupta & Mansi Taneja / New Delhi December 15, 2009, 0:25 IST
We all watch videos and TV content online. But we also know that streaming videos can become frustrating on a dawdling internet connection, which usually kills the experience. This is where mobile broadband connections come to the rescue. A mobile broadband connection is essentially a mobile phone for your PC — it uses the same GSM/CDMA and 3G technologies that provide voice and data to your mobile.
Business Standard / New Delhi December 23, 2009, 0:11 IST
IT security solutions major Symantec today said it has partnered with technology major Hewlett Packard (HP) for providing online backup to HP"s consumer desktop and notebook PCs globally.
ArcelorMittal, the world’s largest steel maker, will benefit from a windfall of £1 billion (Rs 7,000 crore), thanks to the carbon credits issued to it under the European Trading Scheme. The Sunday Times today reported that ArcelorMittal will be the single largest beneficiary under the ETS due to its dominant presence in Europe.
The company will supply the main active pharmaceutical ingredient for Valtrex.
ABG Shipyard today said its open offer for 32.12 per cent stake in offshore drilling firm Great Offshore will now commence on December 3.
Rapid urbanisation, scanty rains add to scarcity
The upswing in Baltic Dry Index numbers recently to a 14 month high closing at 4661 on 19 November 09, raised hopes that a revival for the shipping sector is afoot sending shipping stocks zooming. Freight and tanker rates dropped sharply in July - September 09 quarter, but gained strength in October 09 which has sustained through November 09 as well. They hit 10 year lows in the December 08.
Defending BSNL"s massive loss in market share to just 16.71 per cent now from over 31 per cent in 2006-07, the government today said it was mainly due to fierce competition and not due to managerial reasons.
Communications Minister A Raja today said the observations made by the special audit — which had found that Reliance Communications and its other subsidiaries under-reported revenues during 2006-07 and 2007-08 — were being examined by his ministry.
Anil Ambani-led RNRL today contended before the Supreme Court that it has an "unqualified" right to get gas at $2.34 per unit for 17 years from RIL which will along with the Government not suffer any loss at this rate.
Exercise part of drive to combine operations under single firm.
Credit policy uncertainty adds to AUM fall of Rs 22,000 crore last month.
India’s nuclear power generator, Nuclear Power Corporation (NPCIL) has projected an investment of Rs 1 lakh crore for nuclear capacity addition of 10,000 Mw by 2020. The cumulative funding for these projects would be on a 70:30 debt equity ratio.
Godrej Security Solutions (GSS) Division, one of the divisions of Godrej & Boyce Mgf Co. Ltd and part of Godrej Group, has set the target of around Rs. 400 crore turn over for the current FY 2009-10 and eyeing Rs. 500 crore turn over by FY 2010-11.
Three contract workers died in a mishap at a unit of the Haldia Petrochemicals (HPL) in East Midnapore district of West Bengal.
The Reserve Bank (RBI) has made it easy for telecom companies bidding for third generation (3G) mobile spectrum to borrow money from abroad, while tightening the norms for others.
State-run Oil and Natural Gas Corporation"s deep-sea project in Brazil has begun crude oil production and output is projected to touch 1,00,000 barrels a day soon.
After much dilly-dallying, the ‘Passport Seva Project’, which aims at expediting the process of issuance of passport by digitising the passport services, would be rolled out by early 2010.
The state-owned insurance giant Life Insurance Corporation of India (LIC) and private sector insurer HDFC Standard Life missed out on rural sector obligations during 2008-09. While two non-life insurers, Bharti Axa General Insurance and Apollo DKV, did not meet both the rural as well as the social sector obligations during the last financial year.
Ch Prashanth Reddy / September 27, 2009, 0:07 IST
Oil India Ltd (OIL), the country’s second-largest state-owned explorer, has posted a 23 per cent increase in net profit for the quarter ended December 2009 on the back of higher price realisation due to a reduced subsidy outgo.
Use credit wisely, save, take insurance and sensibly invest in equities.
With a person dying every four-and-a-half minutes in road accidents in the country, the government today said it will tighten safety rules to bring them in line with international standards.
The Mukesh Ambani-led Reliance Retail plans to open as many as 45 books and music stores under the brand name of Reliance TimeOut, over the next five years.
In what may become a revolution in entertainment, accessing television via cable, IPTV or interactive DTH services is soon going to be via wireless, on the lines of a wi-fi internet connectivity.
Scrapping of 20-million lines order for south zone to delay Rs 32,000-cr project.
Eight out of the 10-most valued firms saw their market capitalisation (m-cap) tumble by as much as Rs 85,000 crore till date in 2010, as the stock markets witnessed a down-slide.
State-run telecom majors BSNL and MTNL are not seriously considering to be a part of the consortium led by Delhi-based Vavasi Group to pick up a 46 per cent stake in Kuwait’s Zain Telecom.
The Railway Board is likely to utilise the undisputed 600 acres for setting-up a coach factory at Singur, the erstwhile site for the Nano project.
Italian auto maker Fiat said it was taking help from Tata Motors, its partner, in developing the small car it plans to launch in India by 2012. “Tatas are our front-end partners in distribution. So, we are taking a lot of help from them in taking customer feedback and understanding their needs, so that these can be incorporated into the small car,” Fiat India Automobiles’ President and CEO Rajeev Kapoor said.
The markets are trading in the positive zone as global markets have improved on news of easing Dubai fears. Abu Dhabi has lent $10 billion to Dubai as emergency funds.
Union Minister for New and Renewable Energy Farooq Abdullah and Punjab Chief Minister Parkash Singh Badal laid the foundation stone of the 60 Mw biomass-based Green Energy Power Plant of Lakshmi Energy and Foods Limited (Lakshmi Group) at Khamanon village of Fatehgarh Sahib in Punjab.
The order win by Suzlon’s subsidiary, REpower, to deliver 954 Mw of wind-power equipment is its largest ever onshore deal.
Suzlon Energy, one of the leading wind turbine makers, has entered into an agreement with Australia"s Infigen Energy to provide 20 units of wind power generators aggregating to a capacity of 42 MW.
Country"s largest lender State Bank of India"s (SBI) pension corpus could be regulated by the Pension Fund Regulatory and Development Authority (PFRDA), opening a new area for the interim regulator.
Financial services provider Barclays today revised India"s growth projection for 2009-10 to 7 per cent from the earlier forecast of 5.5 per cent on the prospects of a stable government.
The government today said it will raise Rs 97,000 crore in the last quarter of the fiscal through treasury bills, which are short-term bonds.
Global multinational drug companies’ need to outsource manufacturing to low-cost destinations like India has turned out to be a boon for leading drug companies in India such as Ranbaxy, Cipla, Dr Reddy’s Laboratories and Aurobindo.
Max India ended at Rs 204, higher by Rs 13 or 6.9%, on the BSE.
Textile and apparel group SKNL today reported 74.6 per cent jump in its net profit to Rs 80.7 crore for the third quarter ended December 31, 2009, compared to the same period last fiscal on the back of robust growth in its domestic business.
The global financial crisis can be turned into a great opportunity for growth in India and China if the two Asian giants join hands to collaborate in five key sectors such as gems and jewellery, says a Ficci-KPMG report.
The next date for arbitration hearings on the terms of sale of the government’s residual 49 per cent stake in Bharat Aluminium Company (Balco) to Sterlite Industries is January 31. A three-day hearing by a panel of three retired judges of the Supreme Court concluded today.
Entertainment firm Pyramid Saimira Theatre today posted a loss of Rs 3.66 crore for the quarter ended December 31, 2009.
Business Standard / New Delhi October 07, 2009, 1:12 IST
The Indian Air Force (IAF) today said it had sought permission from the government to fire at Maoists if they attacked helicopters.
Business Standard / New Delhi October 27, 2009, 0:41 IST
The CBI today recorded the statement of Buta Singh, Chairman for the National Commission for Scheduled Castes (NCSC), in connection with a bribery case involving his son.
Gaganjeet Bhullar wants to be the number one golfer in India, and is taking giant strides towards achieving his aim.
Regional differences in Andhra Pradesh Congress burst out in the open today when late YSR"s son Jaganmohan Reddy joined TDP protesters in Lok Sabha only to face demands for disciplinary action from party MPs from Telangana.
The Orissa government hopes to generate about 9820 Mw power in the state by 2014.This includes 2400 Mw to be generated by Sterlite Energy Ltd, 1050 Mw by GMR Kamalanga Energy Ltd, 1050 Mw by Nava Bharat Energy and 600 Mw to be generated by KVK Nilachal Power.
The Karnataka government will soon select a consortium bidder for the 35-km high-speed rail transport between Bangalore International Airport at Devanahalli and the city centre, a top official said here today.
I am planning to buy a car, which most probably will end up with my father. My budget is in the range of Rs 10-13 lakh. Which one would you suggest — the Honda Civic or the Toyota Corolla Altis? He normally prefers a petrol, but if you think the new Chevrolet Cruze is much better than the rest, then I can convince him for the diesel also. I am also looking at a used, last generation 2007 Audi A4 diesel. It is working out to be more expensive even in terms of finance. What will you suggest?
Entertainment firm Pyramid Saimira Theatre today said it will demerge two of its subsidiaries — Pyramid Saimira Content Distribution and Pyramid Saimira Production International — from itself.
With the growing swine flu scare across the city, a number of IT-BPO service providers here are seeing up to 20 per cent drop in attendance.
Plans aggressive push to Pulsar and Discover ranges.
SBI Caps heads global loan chart; power sector dominates.
Farm-to-fork model proves to be expensive, with prices higher than in neighbourhood stores.
The condition of 95-year-old Marxist leader Jyoti Basu, hospitalised with pneumonia, turned "very critical" today and he was put on a ventilator after developing acute breathing problems.
China’s growth probably exceeded the economy’s speed limit in the fourth quarter, escalating pressure on Premier Wen Jiabao to withdraw stimulus measures even as the government seeks to strengthen domestic demand.
Finance Secretary Ashok Chawla today said the Reserve Bank of India"s (RBI) review policy has taken a balanced view of the current situation and the CRR hike would not have any affect either on interest rates or the industrial recovery.
With over one billion people going to bed hungry, the United Nations has warned that the hunger index is rising and appealed to governments and civil societies to "leverage every tool" to combat it.
BHARTI AIRTEL
The volume of initial public offer (IPO) in the US in 2009 amounted to $16.6 billion, the second lowest on record, amid uncertainties in the financial sector worldwide.
India today unveiled a detailed roadmap for phase out of ozone depleting and green house gas Hydro chlorofluorocarbons (HCFCs) and sought adequate funds and technology from the global community for it.
Amid fears of a debt crisis in Dubai, ICICI Bank today said it does not have any significant exposure to Dubai corporates.
No takers for road, port projects.
Two electronic media personnel had their accreditations snatched away by the Mumbai Cricket Association authorities for violating coverage norms prior to the third day"s pre-lunch session in the India-Sri Lanka third cricket Test at the Brabourne Stadium here today.
Anil Ambani Group company Reliance Communications today said its consolidated net profit declined by 19.34 per cent to Rs 1,164.82 crore for the third quarter of 2009-10.
India and Russia have finalised a new price for the aircraft carrier "Admiral Gorshkov" after months of protracted negotiations and the refitted warship would be delivered to the Indian Navy by 2012, top Russian officials said today.
Decision likely before March 2010, price will determine winner.
WORDS AT WORK
Self-deprecating humour isn’t something one sees too much of in this country (where making fun of others is held a nobler pursuit than laughing at one’s own foibles), so I’m always pleased to read Saad Akhtar’s webcomic Fly, You Fools! (People are Mindless Cattle), a good-natured, witty take on some of the things we read about in the newspapers every day. It isn’t brilliantly written or drawn (in fact, it mostly uses photos and mixed media rather than fresh illustrations) but it’s goofy and perceptive, casting fresh light on (among other things) security checks at mall entrances (http://tinyurl.com/5s25pe), rich kids mowing down pavement-dwellers in their Mercs (http://tinyurl.com/mhpwep), and loud honking at traffic signals as a substitute for sexual inadequacy (http://tinyurl.com/kl7knc).
The Bombay Stock Exchange today said Torrent Power will replace Reliance Petroleum on the BSE-100 index with effect from September 25.
The Indian School of Business (ISB) has launched ‘ISB Idiya’, an initiative to promote social ventures from working professionals. The competition is not open to students who are pursuing any full time programme. It would offer mentorship and entrepreneurial training to select candidates.
Encouraged by the improving business sentiment, India’s premier management schools are hopeful of a higher budget and sponsorship amount for their annual festivals which are held between October and March.
Senior Biju Janata Dal (BJD) leader and chief minister Naveen Patnaik’s closest aide, Pyari Mohan Mohapatra, MP, today slammed the Orissa government and the corporate houses for ignoring the interests of the people displaced by industrial projects in the state.
The world"s largest software firm Microsoft today said it is sharpening its focus on the fast growing smartphones market and other wireless devices in India.
From setting the rates, to the constitutional changes required and the training needed, it is unlikely we will be able to implement it by April 2010, says S Madhavan.
The budget may not mention the introduction of Goods and Services Tax (GST) from next fiscal as there are already voices expressing doubts about meeting the deadline.
The declining trend in engineering exports from India has prompted domestic export promotion body EEPC India to seek the Centre"s support for the sector. Engineering exports, which grew by 18 per cent last year touching $40 billion, have declined by 22 per cent in the first six months of the current fiscal year.
Engineering Exports Promotion Council(EEPC) expects growth in exports to remain flat this year at last fiscal"s 15 per cent levels.
Sun TV ended at Rs 333, higher by 0.2%, on the BSE. The stock opened at Rs 336, which was also the day"s high and a low of Rs 333.
The train running between Baramulla to Anantnag in Kashmir is all set to extend up to Qazigund next month.
More than 150 entrepreneurs participated in business guidance and mentoring camp at Ludhiana organised by Punjab Infotech in association with TiE Punjab & Chandigarh for MSMEs. The campaign aims to take mentoring – TiE’s key value proposition and core philosophy – to Tier 2 cities across India and help entrepreneurs realize their dreams and is a part of TiE’s Pan-India campaign called "Enterprising India – Changing the nation. Leading the World".
Entrepreneurs in Mandi Gobindgarh blame the state government for not taking concerted steps to support industry.
The Uttar Pradesh government said there was no need for a new IT policy in the state and the need of the hour was to ensure proper implementation of the 2004 IT Policy.
India’s largest manufacturer of biscuits and confectionery, Parle Products is eyeing 15 per cent growth in turnover from Uttar Pradesh in the current fiscal.
Anil Dhirubhai Ambani Group (ADAG) firm Reliance Natural Resources (RNRL) today welcomed the government"s move to protect NTPC"s interest on sourcing gas from Reliance Industries, saying effective legal steps will defeat the Mukesh Ambani firm"s "malafide attempts to dishonour" its commitment.
Outlining its stand on the negotiations for finalising the Doha Round of the World Trade Organization (WTO) talks, the government today said any new approach proposed for discussions would not be acceptable to India.
Global outsourcing and innovation company Aricent plans to increase its global headcount by 10-15 per cent in the current fiscal. Of this, around 70-80 per cent will be in India.
If I Could Tell You is a rather modest title for a book that makes no pretence of doing anything else. You could have your own point of view on whether something so essentially personal, with no real context or history, should stretch to 200 pages between two hard covers, but there’s no doubting the sincerity of intent. “Me at my most truthful and unadorned,” the unnamed narrator says, as he weaves a lyrical tale of his life in a series of letters to his daughter.
Eases regulatory hurdles for Bharti-MTN deal.
The $70-billion food processing industry is unlikely to achieve the ambitious growth target of 20 per cent due to lack of awareness, inadequate infrastructure and use of outdated technology at farms.
DTH major Dish TV today said it has partnered Indiatimes.com to offer mobile value added services (VAS) called "Mobile Active" to its customers.
A call to Airtel IPTV’s helpline number turns out to be a weird experience
Contribute a daily trading turnover of around 10 per cent.
Madhucon Projects, a city-based infrastructure development company, reported a net profit of Rs 11.96 crore for the second quarter ended September 30, 2009, as against Rs 12.81 crore in the corresponding quarter last year, registering a decline of 6.63 per cent. Turnover, however, grew 63 per cent to Rs 254.72 crore during the quarter, as compared with Rs 156.25 crore in the same period a year ago.
GVK Power and Infrastructure (GVKPIL), with interests in power, roads, airport, and aviation, reported a 45.19 per cent increase in net profit to Rs 44.23 crore for the second quarter ended September 30, 2009, as compared with Rs 30.47 crore in the corresponding period last year.
The Indian car market may be revving but the country"s marque event, Auto Expo starting on January 5, is being cut short to just a week as participants want to curtail expenditure in the face of the global slowdown.
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.
As probe intensifies, says he’s being framed since he’s a tribal.
Sun TV erased all its gains and finally ended in the negative terrain at Rs 333. The counter clocked volumes of 6,969 shares as compared to the two-week daily average traded volumes of 18,919 shares on the BSE
Prices of sugar in Uttarakhand have reached an all-time high of Rs 42-44 per kg in the retail market, thanks largely to sugarcane shortfall.
Foreign fund house Deutsche Securities Mauritius has hiked its stake in commercial-vehicle maker Eicher Motors to 5.17%, after purchasing fresh shares through an open-market transaction.
The Indian healthcare industry, growing at an exponential rate, now presents an attractive investment opportunity for private equity and venture capital firms, says private equity experts.
India"s moon mission has proved to be quite economical and cost much less compared to what other countries have spent on their projects, mission director M Annadurai said here.
The Indian Space Research Organisation (Isro) and US space agency Nasa should deploy surface robotic penetrator in "Chandrayaan-II" mission to study more about the presence of water molecules on moon, former President APJ Abdul Kalam has suggested.
In a landmark discovery, India’s maiden moon mission Chandrayaan-I has found evidence of water on the lunar surface, a finding that could trigger a serious hunt for life in outer space.
Driven by higher prices of essential food items like milk, cereals, pulses, fruit and vegetables, inflation rose to (-)0.12 per cent for the week ended August 29 and is expected to move to positive territory in the next couple of weeks.
The Supreme Court today refused to give any relief to Swiss pharma firm Hoffman La Roche Ltd that had challenged a Delhi High Court order allowing Cipla to manufacture and sell a generic version of lung cancer drug "Erlotinib".
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.
Zenotech Laboratories today said the Madras High Court has ordered Japanese drug firm Daiichi Sankyo not to go ahead with the planned open offer for an additional 20 per cent stake in the pharma firm.
Record gold prices took the shine off gems and jewellery exports, which fell 8 per cent to $2.11 billion (Rs 9,878 crore) in October compared to the same period last year.
Gold prices fell by Rs 280 to Rs 18,270 per ten gram in the bullion market today on emergence of widespread selling by stockists in the face of a weakening global trend.
The Supreme Court today set aside the Delhi high court order which had allowed the Indian company, Gufic Ltd, to use the name ‘Cliniq’ in its skin care product. The bench headed by Justice B Sudershan Reddy vacated the order on the appeal of Clinique Laboratories against the high court order.
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.
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.
Mexico will push for a binding international agreement to cut greenhouse gas emissions when it hosts the next climate change summit in Mexico City in the coming year.
The central government’s invitation to global pharmaceutical companies to conduct clinical trials here of their H1N1 (swine flu) vaccine candidates has evoked only a limited response. Only two companies, Novartis and GlaxoSmithKline, have come forward to seek regulatory approval for such trials in India, it is learnt.
The mad rush to set up special economic zones that house export-oriented manufacturing units three years ago turned cold in 2009, as demand for commercial space waned due to the global meltdown.
Businessstandard / New Delhi December 27, 2009, 0:14 IST
The efforts of Posco India to generate public support for its integrated steel project near Paradeep have aroused the wrath of the anti-Posco activists.
The stock price of Uttam Galva Steels today hit the upper circuit on the stock exchange after ArcelorMittal, the largest steel maker in the world, said it would make an open offer to buy an additional 29.4 per cent stake in the company from the public at Rs 120 a share.
Chennai-based electric scooter manufacturer Kabirdass Motor Company is planning to raise Rs 60 crore through an initial public offering to support its expansion plan and for setting up a manufacturing facility near here.
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.
Hyderabad-based pharmaceutical major Dr Reddy’s Laboratories Ltd (DRL) more than doubled its net profit to Rs 217 crore during the July-September quarter compared to Rs 105 crore in the same period last year, its consolidated results announced today show.
Reliance Industries Ltd (RIL) today told the Supreme Court that Reliance Natural Resources Ltd (RNRL) had agreed to the clause on ‘government approval’ (on gas sales) in the discussions that followed the demerger between the Ambani brothers, Mukesh and Anil.
To make up for 80% of losses incurred by component suppliers
Key benchmark indices surged as India’s economy expanded at higher than the expected rate of 7.9 per cent for October. Global markets gained after Dubai financial crisis fears receded. Indian markets opened strong at the start of the week, however, the week’s close saw some profit booking as worries mounted of a weaker-than-expected jobs report from the US.