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Godrej Consumer Products (GCPL) today said it is interested in buying the international household products business of US-based Sara Lee to expand globally.
Indian fast moving consumer goods (FMCG) players are once again on the prowl to acquire companies, as the economy picks up.
Telecom firm Tata Teleservices Ltd (TTSL) today said it has entered into an agreement with Yahoo! India for providing online user interface to all Tata Indicom customers.
Internet search major Yahoo! today appointed Arun Tadanki as the managing director of its India operations.
Public sector lender Dena Bank today said it has reported a marginal growth in net profit at Rs 111.17 crore for the fourth quarter ended March 31, 2009.
Sitaram Yechury, the CPI(M) leader, had a tongue-in-cheek explanation for Finance Minister Pranab Mukherjee ripping into Brinda Karat during the discussion on inflation in Parliament. According to Yechury, “The FM was talking about the Wholesale Price Index (WPI) but we were telling him to talk about the Consumer Price Index (CPI) which showed a sharp rise in food prices. As we mentioned CPI, he thought we were talking about the political outfit CPI. That might have angered him.”
Business Standard / New Delhi November 1, 2009, 0:31 IST
The seventh ministerial conference of the World Trade Organization (WTO) is scheduled next week (November 30-December 2) in Geneva. The meet comes four years after the Hong Kong conference, which failed to arrive at a consensus on key issues.
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.
Nagarjuna Agrichem (NACL), one of India"s leading crop protection companies, plans to expand its production capacity by 9000 tonnes by 2011 at a total cost of Rs 250 crore.
Oilmeal exports from India are falling due to higher prices and low quality compared to those from the US, Brazil and Argentina, which are offering better quality of soybean and rapeseed at lower prices. Exports are expected to come down by 15-20 lakh tonnes during 2009-10.
Voltas takes the social cause route to promote its air-conditioners.,
Leading global premium spirit manufacturer, Bacardi Ltd, today launched Bacardi "O", an orange-flavoured rum in the state and plans to focus on Tier II and III markets in the country.
Rajesh Tandon / October 11, 2009, 0:26 IST
Manipal Acunova, the Bangalore-based Rs 80 crore clinical research firm, has raised Rs 30 crore from US-based OrbiMed, a global healthcare-dedicated investment firm, with approximately $5 billion in assets under management.
Support at 5,150, resistance at 5,300.
Real estate developers cannot be fined for late delivery of possession of a flat to an allottee if no specific date of its delivery is mentioned in the contract, the apex consumer body has held.
Private airlines in the country owe Rs 274.19 crore to the Airports Authority of India (AAI) as of October-end, with Kingfisher being ahead of Jet Airways and SpiceJet leading the pack of low-cost carriers.
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.
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.
It may be troubled times for the airlines business, but low-cost carrier SpiceJet sees an opportunity in this and is keeping its antenna up to see if some worthwhile carrier comes its way at "right price".
A day after ICICI Bank cut rates, Axis Bank follows with a 50-75 basis points cut.
The New Year may bring challenges for distributors of financial products who had found solace in unit-linked insurance products (Ulips) after the Securities and Exchange Board of India (Sebi) had banned entry load on mutual fund instruments from August this year.
The state-of-the-art integrated terminal, called T3, of Indira Gandhi International Airport (IGIA) in New Delhi is poised to be the world’s second-largest, after Beijing in China, in terms of size. Once T3 starts operations before the 2010 Commonwealth Games in October, IGIA will become the world’s sixth-largest in terms of capacity. T3 would increase the capacity of IGIA to 60 million passengers annually, from 23 million after it starts commercial operation in July next year. The airport is expected to increase capacity to 100 million passengers by 2030 depending on traffic growth.
IT firm HCL Infosystems today announced its partnership with global chip maker Intel and state-run telecom operator BSNL to launch low-cost computing devices offering broadband wireless connectivity.
IT financial services solutions vendor Oracle Financial Services Software today said its consolidated net profit rose by 75.99 per cent to Rs 185.78 crore for the first quarter ended June 30, 2009, over the same period last year.
Foreign fund house Sloane Robinson LLP has hiked its stake in Indiabulls Real Estate to 5.42 per cent through open market share acquisition.
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.
The country"s largest sugar manufacturing firm, Bajaj Hindusthan, today said its shareholders will meet on December 16 to consider and approve raising of Rs 2,000 crore from domestic and international markets.
Shishir Bajaj-promoted Bajaj Hindusthan, India’s largest sugar producer, is in talks with its nearest competitor Balrampur Chini Mills to acquire the 36.67 per cent stake of the current promoters, the Kolkata-based Saraogis.
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.
Fashion and lifestyle brand retailer DLF Brands will launch the DKNY brand in the Indian market this month.
Alok Retail India, a 100 per cent subsidiary of Alok Industries, is planning a major expansion and is in talks with private equity firms to raise Rs 100-crore.
"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.
The Rs 1,100-crore project between Ispat Industries and UK-based Stemcor to set up a coke-oven plant at the domestic firm"s site near Mumbai is likely to take off soon as the venture is expected to achieve financial closure by the month-end.
How do fund houses charge the various taxes like dividend distribution tax, capital gains tax and securities transaction tax that a mutual fund is subject to? Are these deducted from the returns the fund generates?
A Parliamentary Panel has asked the government to allocate 138 coal blocks to state-run Coal India (CIL) to help it meet production targets for the current and the next plan period and bridge demand-supply gap.
Cases aimed at stopping approval of new generics
Hero Group subsidiary Hero Electric will soon set up a joint venture with Canada-based battery maker Electrovaya for manufacturing lithium ion batteries for electric vehicles.
The ambitious Solar Mission of India, which envisages to generate 20,000 Mw of solar power by 2020, would come as a boost for the solar plates and accessories manufacturing industry of the country.
A breakout is more probable, since the market rarely range-trades inside 150-200 points for extended periods.
Barring intra-day corrections, the market displayed a firm trend throughout the week. The Sensex rallied 4.27 per cent (691 points) to end at 16,849. IT, metals and select banking stocks were the major gainers during the week.
South Korea will host a world financial meeting ahead of a G-20 summit later this year as part of its efforts to help promote global financial stability, the country"s financial regulator has said.
Anil Dhirubhai Ambani Group firm Reliance Life Insurance today launched two new products -- Jan Samriddhi Plan and Super InvestAssure Plan here and aims to garner Rs 600 crore premium from them within this fiscal.
Business Standard / New Delhi December 30, 2009, 0:57 IST
Granules India Limited (GIL), a Hyderabad-based active pharmaceutical ingredients (APIs) and pharmaceutical formulations intermediates, reported a net profit of Rs 6.19 crore for the quarter ended June 2009, as compared with Rs 2.7 crore in the corresponding quarter last year, reflecting an increase of 129.25 per cent.
Canara Bank will soon become the sixth major Indian bank to open a branch in the East Midlands town of Leicester, which has a large population of Indian origin and has close business links with India.
Asian markets surged to 17-month highs today. The Hang Seng jumped 456 points (2%) to 22,280. The Nikkei added 27 points to 10,682.
In a step towards initial public offer (IPO) guidelines for insurance companies, the Insurance Regulatory and Development Authority (Irda) has come out with final public disclosure norms, to be effective from March.
Jindal Steel & Power (JSPL) today said its subsidiary, Jindal Power, would set up a 1,600 Mw hydro electric power project on the Subansiri river in Arunachal Pradesh.
Internet job portal Monster.com and direct-to-home company Dish TV have collaborated to offer an interactive jobs search service "MonsterJobs Active" for Dish TV subscribers, which would allow job seekers to search for jobs across the country.
Uttarakhand is rejoicing on the arrival of Uttar Pradesh’s sugarcane farmers, who are coming to the hill state with the hope of getting a better price for their produce.
Steel Authority of India Limited (SAIL) chairman Sushil Roongta was in Beijing in October for induction in the hallowed committee of the World Steel Association now chaired by Lakshmi Mittal. Being an astute business diplomat, he made use of the visit to find out what China was going to do with its rapid steel capacity build up and production.
Steel Authority of India Ltd (SAIL), the country"s second largest producer, reported Rs 1,676 crore net profit for the quarter ended December 31, nearly double the Rs 843 crore in the corresponding quarter of the previous year, at the back of rising demand from auto and construction sectors.
Telecom giant Bharti Airtel is close to clinching a deal to acquire 70 per cent stake in Warid Telecom, a local mobile company in Bangladesh owned by Abu Dhabi Group, with top officials from both companies meeting here to "brainstorm a consensus", a media report said today.
A V Rajwade / New Delhi December 14, 2009, 0:52 IST
Police have received specific intelligence inputs about a terror attack on one of the oldest clubs near Hotel Taj here following which security has been beefed up, police said today.
The court of the special judge, Ranchi, has allowed the Enforcement Directorate (ED) to visit Thailand, United Arab Emirates (UAE), Indonesia, Sweden and Liberia to conduct further investigations into money laundering and hawala case involving over Rs 2,000 crore against the former Jharkhand Chief Minister Madhu Koda and his aides.
S Tel, a joint venture between the Siva group and Bahrain Telecom, today said it will launch mobile services in a few circles by this year-end and announced tying up funds to the tune of Rs 2,000 crore for the purpose.
In an attempt to revive loss-making telecom equipment manufacturer ITI, the government today approved a proposal under which the company will continue to get orders for 30 per cent of products requirement of BSNL and MTNL in reservation quota.
At the height of the dot-com boom of the 1990s, several executives at McKinsey & Company, the world’s most prestigious management consulting firm, launched what they called the War for Talent. After extensive research, they concluded that the best companies had leaders who were obsessed with “the talent issue”. They recruited ceaselessly, finding and hiring as many top performers as possible. They singled out and segregated their stars, rewarding them disproportionately, and pushing them into ever more senior positions. The “talent mind-set” became the new orthodoxy of American management — the intellectual justification for why a high premium was placed on degrees from first-tier business schools, and why the compensation packages for top executives had become so lavish.
Surajeet Das Gupta & Mansi Taneja / New Delhi December 15, 2009, 0:25 IST
Daiichi Sankyo, which has a majority stake in Ranbaxy Laboratories, today said it is going to launch some of Ranbaxy"s generic medicine in the Japanese market soon.
Bharati Shipyard (BSL) today said it would abide by the guidelines issued by the market watchdog Securities and Exchange Board of India (Sebi) on the Great Offshore open offer.
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.
Parliament today passed a bill that introduces a new sugarcane price regime, after government allayed concerns of Opposition that the states will not be required to pay the difference between the Central and the State Advised Price to farmers.
After cutting steel prices in the past two months, state-run Steel Authority of India Ltd (SAIL) today said it was looking to raise the rates next month following a recovery in demand.
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.
The Smart Portfolios registered healthy gains last week in line with a pull back in the broader markets. The benchmark index, S&P CNX 500, was up 3.61 per cent in the holiday-shortened week. An investment of Rs 10 lakh at the start of the Smart Portfolios on September 1, 2009, is today valued at Rs 11.20 lakh, an appreciation of almost 12 per cent. This week, barring Praveen Panjwani, other three fund managers were able to match the benchmark’s return.
Last week, the markets traded in a narrow range and finally ended in red. The Smart Portfolios benchmark, S&P CNX 500 index, shed 2.12 per cent (89.85 points) to settle at 4,153.05. In the process, the benchmark"s portfolio value depreciated to Rs 10.81 lakh from Rs 11.04 lakh in the preceding week. In the process, the benchmark-based portfolio"s net worth is now higher by 8.15 per cent when compared to the initial corpus of Rs 10 lakh at the start of Smart Portfolios on September 1, 2009.
Markets exhibited range-bound movement last week before settling on a flat note. The Smart Portfolios benchmark, S&P CNX 500 index, was up marginally by 0.09 per cent to 4,243. An investment of Rs 10 lakh in the benchmark at the start of Smart Portfolios on September 1, 2009, is today valued at Rs 11.05 lakh - a healthy 10.48 per cent appreciation in the corpus. Ajay Parmar and Amar Ambani continue to outperform the benchmark with returns of around 14.22 per cent and 14.30 per cent, respectively. Last week, while Ajay Parmar"s net worth saw a marginal dip of 0.26 per cent, Amar Ambani"s portfolio value appreciated by 0.97 per cent. They were the two active managers and cumulatively bought stocks worth Rs 1.34 lakh at the net level.
The private carriers would continue to provide ground handling services inside the airport terminal, along with airport operators, Air India (AI) and other selected specialised service providers, under the policy approved by the government today.
Home Minister P Chidambaram has said the process for forming the new state will be initiated.
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.
A three-member team of United States Securities and Exchange Commission (SEC), America"s federal agency to regulate the securities industry in that country, exchanged information with the CBI probing into the multi-crore accounting scam at Satyam Computer here.
Citigroup has replaced Douglas Peterson, the head of the bank"s business in Japan, with Darren Buckley, a media report says.
Saturation in other businesses triggers the move.
Use credit wisely, save, take insurance and sensibly invest in equities.
State-run Bharat Sanchar Nigam Ltd (BSNL) today announced the launch of per-second billing plan, joining a host of mobile phone operators who have already introduced such tariff scheme.
Asian markets ended mixed today. The Hang Seng added 122 points to 20,244. The Nikkei was up seven points at 10,205.
Shyamal Majumdar / Mumbai November 12, 2009, 0:24 IST
Pulses getting dangerously close to Rs 100 per kilo, potatoes in West Bengal (a traditional exporter) crossing Rs 20 a kilo, make real the food price inflation that statisticians’ numbers signal. Inflation in primary food articles is currently running at over 13 per cent. Dun and Bradstreet forecasts that overall inflation will touch 6 per cent by the end of the current fiscal, fuelled by, among others, current high food prices and the impact of the drought. The 20 per cent deficit in the monsoon is slated to bring down kharif output by 15-20 per cent. The news couldn’t get worse.
Suzlon Energy unit REpower today said it has bagged an order to supply up to 954 MW wind turbines for five projects in Canada.
Domestic mutual funds are again scouting investment opportunities abroad, mostly in emerging markets, as they plan to launch international funds, after more than a year. At least three fund houses-- SBI Mutual Fund, UTI Mutual Fund and Mirae Asset Mutual Fund— are planning to launch international funds soon.
Accelerating mobile PC shipments will drive the worldwide PC market to grow again, according to Gartner Inc, an information technology research and advisory company ‘s preliminary fourth-quarter forecast. In 2010, PC shipments are projected to reach 336.6 million units, a 12.6 per cent increase over 2009.
Most people think that small investments will lead to lower risks. But the returns are adversely impacted.
Body blow for real estate developers as state switches off tap to high-rise projects
Former Union Minister Vilas Muttemwar, in a letter to Congress President Sonia Gandhi, has demanded for a separate Vidarbha state.
The third edition of the Indian Premier League (IPL) will begin on March 12 in Hyderabad with the final to be held at D Y Patil Stadium in Navi Mumbai on April 25, the BCCI announced here today.
Max India ended at Rs 204, higher by Rs 13 or 6.9%, on the BSE.
Credit rating agencies like Crisil, Icra and Care could soon get to grade educational institutions. This will help aspirants to compare institutes across various parameters, and help companies in the education space to raise funds. The Union Ministry of Human Resource Development has put up a note to this effect in the Cabinet. A decision is expected in a month"s time.
The Sensex has ended (provisional) at 17,340 - down 61 points.
A stuttering GDP growth and high-base effect are likely to push same store sales (SSS) growth and profitability of Indian retailers in the red zone for the January-March 2009 quarter, research firm, Macquarie, said.
The gem and jewellery industry has sought enhanced dollar liquidity, lower lending rates, a 2-year tax holiday and turnover tax and import duty reductions as part of budgetary relief, a top industry official said.
NRI billionaire Anil Agarwal-led Vedanta Resources today said it would not offer more than the already announced $1.87 billion to buy bankrupt American mining firm Asarco but is confident that it can clinch the deal with the support of the US government and the trade unions.
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.
With the India Oil Corporation (IOC) expressing keenness to supply naphtha again, chances of debt-ridden Southern Petrochemical Industries Corporation (Spic) resuming operations of its fertiliser plant have increased.
The West Bengal government had not sought return of the land at Singur from Tata Motors ‘formally’, said West Bengal commerce and industry minister Nirupam Sen, a day after Ratan Tata said the government had not approached for the land. Speaking on the sidelines of a seminar organized by Assocham in association with the Bengal Chamber of Commerce & Industry and Merchants’ Chamber of Commerce, Sen said, though the government had not formally asked for the land, the company had been informed about the Bhel proposal and later the Railways proposal. Sen said, unless the Railways submitted a formal proposal, the government would not ask for the land back. With Sen’s comments, it appears that Singur was once again in limbo, as Railways has made it clear that it would not visit the land as it belonged to Tata Motors.
Will spend $58 million to acquire McCamish Systems
The Nifty futures moved in a narrow band and closed higher at 5,239 on poor volumes in both cash and derivates segments. The trading volume in Nifty January futures declined to 11.86 million shares from around 42 million shares on the first day of the December series. It is difficult to predict the market movement in the near future due to extremely poor volumes. However, the intra-day trading pattern in Nifty futures and options suggested that traders booked profits while bears built short positions at higher levels.
Kolkata-based Vibgyor Vehicles, which unveiled two bikes today, said its second manufacturing plant with a capacity of 1.4 lakh units will be operational by May this year.
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.
The government is likely to continue with its existing policies to ensure economic stability in the forthcoming Union Budget, a top banker said.
After receiving a lukewarm response from non-resident Indians, in spite of its various investors’ meets in the US and UK, the state government will now try to find out reasons as to why NRIs have turned hostile towards making investment in the state. On January 9, 2010, the state government will hold a special session with NRIs in ‘Prawasi Bhartiya Diwas” in Delhi, not only to interact with them but also to know about their issues that hinder investment in Madhya Pradesh. Later it will organise a “Prawasi Bhartiya Sammelan” in Bhopal on January 12.
Noting that the global order has changed dramatically since the establishment of the United Nations some 65 years ago, External Affairs Minister S M Krishna has asserted that the world body should also change and reflect the contemporary reality.
Global brewer Heineken will buy the beer business of Mexico-based Fomento Economico Mexicano, SAB de CV (FEMSA), in an all share transaction worth $7.6 billion.
India has proposed bilateral dialogue with the US and EU on the issue of climate change on the lines of one it is set to hold with China later this month, Environment Minister Jairam Ramesh has said.
The Department of Telecommunications (DoT) may ask two leading private operators, Bharti Airtel and Tata Communications, to terminate their contracts with Singapore Telecommunications (SingTel), which was allegedly offering international long distance (ILD) services here without a licence.
Sunil Jain / New Delhi February 1, 2010, 1:24 IST
Notwithstanding the UAE being India"s top destination for exports, the government today put up a brave face stating financial concerns in Dubai would not impact the Indian economy and the country"s real estate sector.
The Finance Ministry today said the financial crisis in Dubai, triggered by a slump in real estate, may not impact remittances sent by Indian expatriates in the Gulf.
Assistance will be used to for infra projects, recapitalsation of PSU banks
India"s position that disgraced Pakistani nuclear scientist A Q Khan could not have acted individually stands vindicated with his admission that Islamabad was involved in the proliferation activities involving China, Iran, North Korea and Libya, experts say.
Acknowledging the staff crunch in the state Industrial Training Institutes (ITIs), the Uttar Pradesh government will start new recruitments and effect rationalisation of existing heads to tide over the crisis.
Agricultural commodity prices have started falling in the past one week. The prices have come down by 5-15 per cent. How long these will fall is not known but traders and analysts say that more rise would not be sustainable.
Jai Arjun Singh / New Delhi November 07, 2009, 0:35 IST
Jai Arjun Singh / New Delhi October 10, 2009, 0:51 IST
Ranbaxy Laboratories has entered into a licensing agreement with South Korean firm Medy-Tox Inc for selling its cosmetic product, Neuronox, in India.
Away from the glamour, but important nevertheless
Last fortnight, Vancouver, British Columbia hosted the annual International Fiscal Association (IFA) Congress with over 1000 international tax experts representing large MNCs, international tax experts, academicians and tax administrators of several jurisdictions. Expectedly, the buzz centered on India’s Direct taxes code. Most participants expressed anxiety on DTC provisions impacting cross border investments, particularly on General anti-avoidance rules (GAAR) and were perplexed with a position that the Indian domestic law can override a double tax treaty (DTT).
Other high-profile meetings on agenda, too.
The Ministry of Micro, Small and Medium Enterprises (MSME) has commenced a programme to promote the transformation of novel entrepreneurship ideas into business ventures by funding the projects.
While housewives across the country are complaining about high inflation levels, Mother Dairy has come up with a great advertising idea. It has put out advertisements saying it has not hiked prices of its toned milk and full cream milk. The move comes at a time when some of its competitors (like Amul) have raised prices. Mother Dairy says the advertisement has been issued in the public interest.
Fast moving consumer goods (FMCG) major Dabur is scouting for overseas acquisitions, particularly in West Asia and Africa, in a bid to increase its market share in the personal care segment.
As governments debate ways to reduce carbon emission levels at the climate change summit in Copenhagen, some fast moving consumer goods (FMCG) companies are doing their bit to rein in carbon footprints.
Entrepreneurs in Mandi Gobindgarh blame the state government for not taking concerted steps to support industry.
Allaying fears of broadcasters over content regulation, the Central government today said any regulatory mechanism would be formed only after consultations with stakeholders and the industry"s larger interests will be taken into consideration.
The utilisation of funds under the National Rural Employment Guarantee Scheme (NREGS), the flagship programme of the United Progressive Allinace (UPA) government, declined to 75 percent in 2008-09 from 82 percent in 2007-08.
After the disappointing second quarter results of Genpact, India’s largest business process outsourcing (BPO) firm, the firm almost halved its revenue growth expectation to 6-9 per cent for 2009. Reason: its largest client, GE, which contributes 40 per cent to the BPO’s revenue, was under stress.
Eases regulatory hurdles for Bharti-MTN deal.
Hero Honda has decided to expand its Haridwar manufacturing facility after resolving issues with the State Infrastructure and Industrial Development Corporation of Uttarakhand Ltd (Sidcul) to retain its hold over the 94 acres of vacant land.
The Sensex continues to display firm trend in the last one hour. The Index is now at 17,648, up 105 points. The NSE Nifty is at 5,274, up 30 points.
The second largest DTH player is way behind the market leader in subscriptions. But it is pushing value-added services to maintain its leadership in average revenue per user
Contrary to the perception that Direct-to-Home (DTH) television technology is an urban or a metro phenomenon, 70 per cent of its DTH subscribers reside in rural areas and towns with a population under a million. And metros like Delhi or Mumbai contribute only 2-3 per cent to the overall DTH subscriber base of 13.2 million, say the findings of a report by Francis Kanoi, a leading marketing research firm.
A call to Airtel IPTV’s helpline number turns out to be a weird experience
Equity derivatives volumes on NSE fall, but traders say it’s too early to see a trend.
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.
Nilanjana S Roy / New Delhi December 1, 2009, 0:39 IST
As probe intensifies, says he’s being framed since he’s a tribal.
Commercial vehicle maker Eicher Motors reported 4.12 per cent fall in net profit to Rs 15.83 crore for the third quarter ended March 31, 2009, compared with Rs 16.51 crore in the year-ago period.
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.
Driven by robust growth in its larger units, hospital chain Fortis Healthcare today reported a 23.4 per cent increase in net profit at Rs 12.9 crore for the second quarter ended on September 30, 2009.
Prison inmates at Sabarmati Central Jail in Ahmedabad are all set to receive medical treatment through satellite connectivity. Healthcare group Apollo Hospitals will launch its "telemedicine" facility at the jail, to provide telemedicine consultations to its inmates. The Indian Space Research Organisation (ISRO) will provide the technology for the treatment, an official from the hospital said.
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.
Novartis India surged over 4% to Rs 447. The scrip touched a high of Rs 450 and a low of Rs 434 during the day. The counter witnessed a volume 13,914 shares, which is more than two-fold increase in its two-week average traded quantity of 5,919 shares.
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.
Japanese drug maker Daiichi Sankyo, which has a controlling stake in Indian pharma major Ranbaxy Laboratories, has narrowed its full-year losses at 215.59 billion yen (about $2.2 billion) on account of changes related to accounting guidelines in Japan.
Kolkata-based Emami Ltd, which acquired Zandu Pharmaceuticals in October 2008 for Rs 750 crore, has decided to merge the fast moving consumer goods (FMCG) business of Zandu Pharmaceuticals with its counterpart in Emami.
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.
Environment Minister Jairam Ramesh neatly turned the tables on the BJP when it attacked the government using the comments made by David Axelrod, a key advisor of US President Barack Obama. Ramesh quipped, “Mr Axelrod is the Arun Jaitley of the Obama Administration.
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.
Consumer healthcare products maker Johnson & Johnson today reported a 3.6 per cent drop in profit at $3.20 billion for the three months ended June, mainly on account of overall fall in sales.
Indian drug firm Sun Pharma may have to shell out up to Rs 1,000 crore for acquiring the Israel-based Taro Pharma-ceuticals. “If we are able to get all the shares of Taro pharma-ceuticals, including promo-ters’, then the total cost would be up to Rs 1,000 crore,” the firm said.
The Centre has refused to extend the in-principle approvals to as many as 11 SEZ projects, including the Mukesh Ambani-promoted Reliance Haryana SEZ, Posco India and Indiabulls Infrastructure, stating that the rules do not allow giving them more time for implementation.
Mid-size steel maker Uttam Galva Steels said today it is not opposed to merger with the world’s largest steel producer ArcelorMittal and is open to all options aimed at taking the company to “new heights.”
The world"s largest steel maker, ArcelorMittal, today said it would acquire additional 13.8 per cent stake in its Czech arm ArcelorMittal Ostrava for $404.3 million (around Rs 1,900 crore).
Hyderabad-based pharmaceutical major, Dr Reddy’s Laboratories, forayed into the transdermal patch segment with the launch of Finrid – a medicated adhesive patch used in the management of severe to moderate pain – in the Indian market.
Declines to 9.35% in April-September from 17.23% in the same period of last year.
Spice Energy Group company Cals Refineries and Bharat Petroleum Corporation (BPCL), a Navaratna PSU, have signed a memorandum of understanding (MoU) for off-take of petroleum products from Cals.
The Orissa Power Transmission Corporation Limited (OPTCL) will execute projects worth Rs 2,000 crore for improvement of the power infrastructure in the state on a priority basis.
The German auto component major Bosch today said it developed a special diesel engine in partnership with Tata Motors, the makers of the Rs 1-lakh car Nano.
"Power" seems to be the buzzword when it comes to big-ticket IPOs.
State-owned NTPC today said it has appointed a consultant for evaluation of a coal mine in Indonesia.
The markets continue to trade in the negative on the back of weakness in realty, metals and IT pack.
Industrial projects in West Bengal are unlikely to be affected by the Allahabad High Court judgment that questioned the legitimacy of invoking the Land Acquisition Act for private companies’ projects by the ‘public purpose’ tag.
The Allahabad High Court today quashed UP government"s notification for use of emergency powers to buy land for Anil Ambani group firm"s Dadri power project, side-stepping a provision for inviting objections from land owners.
Announces target a day after US offered 17% cut in emissions.
Business Standard / New Delhi December 30, 2009, 0:34 IST