Management
Abhay Kumar Srivastava, the chairman and managing director of Cement Corporation of India (CCIL) today took over as CMD of navratna public sector unit, National Aluminium Company Ltd (Nalco).
Coordination at the national level will help in the screening of suspected influenza patients.
Although the deal to acquire Bangladesh’s Warid Telecom appears to be at a discount, replicating its India success story will not be easy for Bharti.
Bharti Airtel, in a major management restructuring today, appointed Sanjay Kapoor as CEO of India and South Asia operations. Kapoor replaces Manoj Kohli, who will now be the CEO of newly created entity International Business Group of Bharti Airtel and joint managing director.
Engineering and construction company Larsen & Toubro today said it has bagged an order worth Rs 6,897 crore from Maharashtra State Power Generation (Mahagenco) for manufacturing turbine generator units.
L&T’s future looks better with the economy showing signs of revival, higher infrastructure spending and firm crude oil prices.
Engineering company Larsen & Toubro (L&T) today reported a profit after tax (PAT) of Rs 580.40 crore for the second quarter ended September, whereas the same was at Rs 460.26 crore during the corresponding period a year earlier.
To raise Rs 80 crore for working capital requirements
The JV was supposed to get at least 45 per cent stake
The Sensex has extended gains and touched a high of 17,554 - up 90 points. The Nifty is up 30 points at 5,231.
Sun TV Network is planning to restructure its distribution business and team with a creation of two verticals — South India operations and International business and the second would focus on expanding Sun TV bouquet into the north, west and eastern markets of India.
Sreelatha Menon / New Delhi December 06, 2009, 0:25 IST
In the backdrop of the scarcity of sugarcane this season, the sugar mills in Uttar Pradesh are keeping the farmers in good humour by collectively making advance payment of nearly Rs 770 crore.
The signs of economic revival notwithstanding, the unemployment rate in the 16-nation euro zone climbed to 10 per cent in November 2009, the highest in 12 years.
Kuwait Investment Authority (KIA), the Gulf country’s sovereign wealth fund, has denied a claim which said its assets dropped by $94 billion due to the global financial crisis.
The Follow-on Public Offers (FPOs) of either NTPC or Rural Electrification Corporation (REC), are likely to be launched in the next couple of months, a senior government official said.
Prime Minister Manmohan Singh will chair the meeting of the Inter-State Trade Council, which is expected to meet next month, to discuss ways to reduce transaction cost for exporters, besides simplification of procedures.
Drug maker FDC today said it has bought back shares worth Rs 17.78 crore from its shareholders, following which the promoter group"s holding in the company has increased to 65.76 per cent.
Ahead of the climate summit next week, a senior Indian officials has met UN Secretary- General Ban Ki-moon to discuss the country"s stand on climate change.
Will Hindustan Unilever"s sales pitch for Lifebuoy around swine flu prevention work?
Two persons died of swine flu today taking the total deaths to four in Andhra Pradesh.
The government today fixed the issue price of the initial public offer (IPO) of state-run explorer Oil India at Rs 1,050 per share, raising a cumulative Rs 4,982 crore.
The Sri Lankan government wants to rope in Mukesh Ambani-led Reliance Industries (RIL) for exploration of oil in the island nation.
Researchers delivered a double dose of good news today in the fight against flu — successful tests of what could become the first new flu medicine in a decade, and the strongest evidence yet that such drugs save lives, not just shorten illness.
Leading tyre maker MRF today posted a net profit of Rs 119.41 crore for the quarter ended December 31.
Expressing concern over reports of China taking substantial portion of land in Ladakh, Union Minister Farooq Abdullah today said the Centre should take up the matter with Beijing at the earliest and sort out the boundary dispute.
Union Law Minister M Veerappa Moily today virtually backed Chief Justice of India K G Balakrishnan on the issue of assets declaration by judges and said if judges were voluntarily disclosing their assets and "wanting to become heroes, it is their wish."
Delhi High Court upholds airport development fee charged by Delhi and Mumbai airports.
The Supreme Court today dismissed a special leave petition (SLP) filed by multinational drug major Hoffman-La Roche challenging a Delhi High court order of April that allowed domestic drug major Cipla to sell a generic version of lung cancer drug Tarceva (erlotinib) in India.
The Sensex finally ended (provisional) at 15,043 - down just 31 points.
Travel and tour company Cox & Kings today said one of its overseas arm has acquired Australia-based MyPlanet Australia Pty Ltd and Bentours International Pty Ltd for an undisclosed amount.
Travel and tour company Cox & Kings (India) made an impressive debut on bourses today. The stock closed 30 per cent up at Rs 426.05 on the Bombay Stock Exchange (BSE) as against the initial public offer (IPO) price of Rs 330. On the National Stock Exchange (NSE), the stock closed at Rs 430.
Domestic pharma major Ranbaxy, now owned by Japan"s Daiichi Sankyo, cut the remuneration to its directors by about Rs 3.5 crore in last fiscal, but the payout still exceeded the limits prescribed by the government.
NMDC, the country"s largest iron ore producer, is set to restart mining at the Panna diamond reserves in Madhya Pradesh in the next three months with the Supreme Court giving conditional nod to such activities at the site.
As part of its Phase-II plan, the Tamil Nadu government is planning to construct 17,000 disaster-resistant houses in rural areas. Each house would cost Rs 3 lakh, which is likely to be funded by the World Bank.
Chennai-based entertainment company Pyramid Saimira Theatre Limited (PSTL) has moved the Securities Appellate Tribunal (SAT) against market regulator Securities and Exchange Board of India (Sebi)’s order, which had banned the company in November 2009 from trading in the Indian securities market for seven years following irregularities in its initial pubic offering (IPO).
Two more persons died of swine flu (H1N1 flu virus) on Sunday, taking the total death toll to nine in Andhra Pradesh.
Andhra Pradesh chief minister K Rosaiah said a meeting of the state Legislative Assembly and Council would specifically be convened to condole the death of former chief minister, Y S Rajasekhara Reddy.
Taking forward the agenda for developing the corporate bond market, the Reserve Bank of India said it initially intends to allow repo transactions in only listed securities like non-convertible debt, debentures and bonds rated AA+ and above.
The Reserve Bank of India (RBI) has requested all Registrars of Co-operative Societies (RCSs) to restrict individual shareholding in an urban co-operative bank (UCB) to 5 per cent of the total paid-up share capital.
Novartis India, a subsidiary of Switzerland-based Novartis AG, is all set to grow its business revenues by four times in the next five years. The company"s over-the-counter business unit is looking at introducing more products in the consumer healthcare segment.
Suzlon Energy has forayed into the Swedish market with its first order coming from Triventus AB, a wind power developer and consultant. The order is for two S88-2.1 megawatt wind turbines. Suzlon will also sign service and maintenance partnership contracts with a subsidiary of Triventus for future projects in Sweden, the company said in a statement to the stock exchanges.
Goldman Sachs says it is ready to repay a $10 billion government investment today.
Jonathan Weil / June 14, 2009, 0:13 IST
Swaraj Baggonkar / Mumbai June 25, 2009, 0:57 IST
Having acquired contiguous land of over 8,000 acres at Jhajjar in Haryana, Reliance Haryana SEZ Ltd (a joint venture between Reliance Ventures Ltd and Haryana State Infrastructure and Industrial Development Corporation, or HSIIDC) is likely to rope in Infrastructure Leasing & Financial Services Ltd (IL&FS) as a consultant and co-partner in the project.
In its efforts to revive ailing public sector units under the steel ministry, the government today decided to hand over management control of three sick units to steel major Rashtriya Ispat Nigam (RINL).
Luxembourg-based Arcelor- Mittal, the world’s largest steel maker, has said it is pursuing its new project investments in India, despite minor delays.
India’s policies for the software sector and China’s promotion of special economic zones (SEZs) for the manufacturing sector suggest that well-designed and sector-specific government policies can overcome weaknesses in investment climate and allow developing countries to compete globally in new fields, according to a study by the International Finance Corporation (IFC), the private lending arm of the World Bank.
Essar Oil has approached the Nepal government for supplying petroleum products. If the proposal is accepted, it will break the monopoly of Indian Oil Corporation, which retails petroleum products in the land-locked country along with the Nepal Oil Corporation (NOC). Nepal is not a very big market and is estimated have an annual demand of 720,000 tonnes of diesel and 1,40,000 tonnes of petrol. Essar currently supplies only small quantities of fuel oil to Nepal.
The Orissa government today said it would assess the local situation in the trouble-hit site for Posco"s proposed Rs 50,000-crore steel plant before allowing South Korean President Lee Myung-bak to visit the place in January.
The Nifty formed another Doji pattern today after moving in a narrow band of 50 points, indicating indecisiveness among participants ahead of Christmas holidays in US and European markets. The index closed below its crucial trendline support level of 5,050, while maintaining its 50-day daily moving average (DMA) support at 5,000.
Kishore Biyani-promoted Pantaloon Retail today reported a jump of 51.07 per cent in its third quarter net profit at Rs 50.67 crore.
In its hope to see electric two-wheeler sales rising in Gujarat, Chennai-based BSA Motors, a business unit of Tube Investments of India (TII), part of the Rs 15,646 crore Murugappa Group, has submitted a memorandum with the state government seeking eight per cent waiver in road tax, reduction in VAT as well as provision of subsidy for the products. Once implemented, BSA Motors hopes to achieve 15 per cent of its total sales target from Gujarat.
Trades between FIIs generated a volume of Rs 57 crore on the BSE Tuesday-an decrease of 13.67% from Rs 67 crore clocked on Monday. As many as six stocks witnessed trades of 5.36 lakh shares on Tuesday.
Two-wheeler maker Ultra Motor Company today launched two new electric scooters priced between Rs 28,300 and Rs 31,900 (ex-showroom, Delhi).
- T N Ninan: Failing capitalism">T N Ninan: Failing capitalism - T N Ninan: Pointing fingers">T N Ninan: Pointing fingers - T N Ninan: VIPs & development">T N Ninan: VIPs & development - T N Ninan: Auction mining rights">T N Ninan: Auction mining rights - A roof over one"s head - Government drafts green SEZ policy
State-run Bharat Petroleum Corporation (BPCL) has posted a 62-fold increase in net profit of Rs 3,628 crore during the quarter ended March 2009 against Rs 58.4 crore in the year-ago period. The rise came on the back of higher oil bonds received and over-recovery on sale of fuel products.
Luxury car maker Honda Siel said today that it will commence exports of engine components like the crank shaft and connecting rod manufactured at its Rajasthan plant to its parent, Honda, in Japan, beginning from October this year.
The Sensex has gained 53 points to the day"s high of 16,412. The Nifty is up 32 points at 4,914.
Devika Banerji / New Delhi December 6, 2009, 0:28 IST
The Orissa Electricity Regulatory Commission (OERC) has stayed the operation of the load restriction order issued by the Orissa Power Transmission Corporation Ltd (OPTCL) to restrict the drawal of industrial load up to 10 Mw.
The Orissa Electricity Regulatory Commission (OERC) has stayed the operation of the load restriction order issued by the Orissa Power Transmission Corporation Ltd (OPTCL) to restrict the drawal of industrial load up to 10 Mw. It has issued notice to the State Load Despatch Centre (SLDC), OPTCL, Grid Corporation of Orissa (Gridco) and the Orissa government to file their replies before OERC within 7 days.
Engineering firm Larsen & Toubro (L&T) today said it has received an order worth over Rs 2,000 crore from GMR Energy for setting up a gas-based power plant in Andhra Pradesh.
Areva T&D India, an arm of French firm Areva, today said it has bagged a Rs 150-crore order from central transmission utility PowerGrid for executing a 765 KV substation.
Information management and storage company EMC Corporation’s total investments in India will touch $2 billion (over Rs 9,300 crore) by 2014. The investment will mainly be in three key areas — expanding innovation capabilities, increasing support and services, and an organised go-to-market strategy.
Though CM has shown confidence, Bihar is still not getting private sector investment.
Power transmission and distribution company Areva T&D India today said its shareholders have approved sale, lease or transfer of its undertakings.
Tata Motors has started distribution of its Prima range of World Trucks, unveiled in May. The first product, the Prima 4028 S, is a 40-tonne 266-PS (Cummins ISBE engine) tractor with a 9-speed ZF transmission, a matching trailer with new generation brakes, ABS and specialised axles for heavy-duty and high-speed application. The tractor’s air-conditioned cabin includes reclining seats, adjustable steering wheels and arm rests for driver comfort. It has got sleepers to facilitate long-distance travel.
Tata Motors Ltd will build as many as 25,000 Jaguar XJ luxury cars annually, starting next quarter, in a bid to take customers from Bayerische Motoren Werke AG’s 7 Series and Daimler AG’s Mercedes S Class.
Automaker Tata Motors today reported 77.30 per cent jump in its total sales during January at 65,478 units.
The country"s largest two-wheeler maker Hero Honda today reported 23.57 per cent jump in its sales at 3,89,802 units in January compared to the same month"s last year.
The Nifty closed in a Doji pattern on the last day of this month’s expiry today, indicating continuation of indecisiveness in the next series. Global cues are strong and hence the Nifty is likely to trade above 4,800 with strong support at 4,820.
The country paid over 7 per cent higher amount in repaying its external debt at $7.67 billion during the first six months of this fiscal over the year-ago period, despite a soft interest rate regime globally.
The country’s largest power generator, NTPC Ltd, will be officially powering the Commonwealth Games being held next year. It has got marketing rights for the games that will held in New Delhi next year, in return for a Rs 50-crore sponsorship.
Ajit Ranade / January 26, 2010, 0:35 IST
After successfully conquering Europe with its hatchback A-Star, the country"s largest car maker Maruti Suzuki India (MSI), is turning its eyes to the South East Asian market with its latest compact car Ritz.
Buoyed by a robust 48 per cent growth in its fee-based income, IDBI Bank has clocked a 29 per cent jump in net profit at Rs 287 crore in the third quarter ended December 31 from Rs 223 crore in the year-ago period.
The CBI will probe the fresh FIRs registered by the Haryana police against former DGP S P S Rathore and others in the Ruchika Girhotra molestation case, according to a Central Government notification issued today.
Actor-turned-politician Chiranjeevi, whose party Praja Rajyam is opposed to bifurcation of Andhra Pradesh, today met Home Minister P Chidambaram and apprised him of the "deteriorating" law and order situation in the state.
With the aggressive disinvestment of PSUs being planned for the coming months, the government is likely to introduce a fixed time-frame during which the nomination of independent directors should be completed by state-run companies.
Karnataka Chief Minister B S Yeddyurappa is not likely to initiate any legal action against former Prime Minister H D Deve Gowda for using unparliamentary language against him but the state unit of BJP has threatened to file a suit against the JD(S) Chief.
The Reserve Bank of India, in its Monetary Policy review today has hiked the Cash Reserve Ratio (CRR) by 75 basis points (bps) to 5.75 per cent, while holding the repo and reverse repo rates steady in line with market expectations.
The government today allowed prospective 3G bidders to raise funds from domestic markets, which could later be refinanced through debts raised abroad, giving a major boost for 3G spectrum auction.
Telecom giant Bharti Airtel has managed to declare a profit but its results show a real problem in even the top line. This underscores the need for these market leaders to find other ways to monetise customers. The plain vanilla voice market is no longer profitable, but these companies haven’t done much by way of value added services apart from the caller tunes, which is now an old story.
After committing an investment of Rs 60,000 crore on various projects in Orissa including an aluminium smelter plant, an alumina refinery unit and a mega university project, London-based Vedanta Resources Plc has now evinced interest in setting up a steel plant in the state.
India today said it is disappointed with the outcome of the recent WTO ministerial in Geneva as "nothing" substantive was done to resolve the differences to free global commerce.
UBS AG said it aims to reach 15 billion Swiss francs ($14.9 billion) in annual pretax earnings in three to five years, as Chief Executive Officer Oswald Gruebel rebuilds Switzerland’s largest bank after record losses.
The race to succeed Kenneth Lewis as the Bank of America Corp chief executive has narrowed to two internal candidates, though the board is still looking for a new face for the USA’s largest bank by assets, says a media report.
India, Latin America and Africa must be taken on board while framing the rules for globalisation in the post-economic crisis scenario, French President Nicolas Sarkozy said at world economic forum"s (WEF) annual meeting here.
Anil Dhirubhai Ambani Group (ADAG) today alleged in the Supreme Court that their corporate rivals were behind the petitions filed by farmers against the land acquition for the company’s proposed 8,000 MW Dadri power project in Uttar Pradesh.
You have to rub your eyes hard to believe the Tata Prima and Mahindra Navistar trucks can rival the best that Mercedes-Benz, Volvo and Scania have to offer. Their stylish cabs, with the multitude of buttons and gizmos and quality fittings, make you feel you are in a European truck. But then again, both have been developed by Indian manufacturers to rival the best the world has to offer and beat these in markets outside India as well.
Controversy-ridden UN climate panel has said it is reassessing another of its claim for linking global warming to an increase in the number and severity of natural disasters, bringing fresh embarrassment to it.
Business Standard / New Delhi January 24, 2010, 0:29 IST
Top US and Indian officials are making hectic efforts to conclude the discussions on critical reprocessing deal on spent nuclear fuel before Prime Minister Manmohan Singh"s high-profile state visit here next week.
Candidly favouring immigration, opposition leader Tony Abbott today asked Australians to have "a mature debate about immigration without being branded racist."
Aditi Phadnis / New Delhi January 10, 2010, 0:52 IST
Broadcasters are increasingly opting for non-exclusive rights of films this year.
The government today said it does not intend to increase borrowing target for the current fiscal 2009-10, which has been pegged at Rs 4.51 lakh crore.
Car maker General Motors India today reported a 65.27 per cent increase in sales in November at 7,118 units, its highest ever sales recorded in the month since start of its operations in the country 13 years ago.
The electric version of General Motors India’s small car Spark will hit the Indian road in the next 12 months, said its vice president P Balendran.
The move will encourage setting up of diamond bourses.
But no binding commitments, Ramesh reiterates to Parliament.
Carnation, the multi-brand car servicing major, today announced plans to roll out its own brand of auto spare parts by mid-2010. “We’ll be launching our own brand of genuine car spare parts,” said Jagdish Khattar, CMD of Carnation, at the formal launch of nine service outlets today.
IT majors — Tata Consultancy Services (TCS), Infosys, Wipro Technologies and Cognizant Technology Solutions — have made 408 job offers to the students of Osmania University College of Engineering (OUCE) during the "premium company recruitment drive" that ended on December 31.
Bharat Sanchar Nigam Limited (BSNL) today launched its new service delivery platform "BSNL Live" - a web portal that would offer videos on demand and movie streaming for its 3G customers for the first time in the country.
State-run Bharat Sanchar Nigam (BSNL) today said it is in talks with new telecom operators, including Unitech, for sharing its infrastructure with them and a separate division will be created within the firm to oversee its infrastructure sharing business.
Nancy Birdsall & Arvind Subramanian / November 21, 2009, 0:40 IST
Tata Communications, a leading provider of a new world of communications, announced that India-based NDTV Convergence has chosen its LiveBroadcast service, a high-quality, flash-based streaming service, to broadcast three national channels in India — two news and one business — over the internet to a global audience.
Business Standard / New Delhi December 18, 2009, 0:21 IST
Jindal Power, a subsidiary of Jindal Steel & Power (JSPL), has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for a public issue of equity shares through 100 per cent book building method.
The mammoth fraud at IT major Satyam, involving over Rs 14,000 crore as per CBI, proved to be the most brazen swindling act, forcing the government to re-write corporate governance rules during 2009 and tighten the norms for chartered accountants.
Tanla Solutions Limited, a city-based telecommunications software and services provider, has called off its plans to set up a new development centre in Hyderabad and a backup/ disaster recovery centre in Bangalore. The company had earmarked Rs 77.26 crore and Rs 12.78 crore respectively for its Hyderabad and Bangalore expansion.
Quick service restaurant chain Domino"s Pizza is now aiming to tap ready-to-eat pasta market to increase footprints in the estimated Rs 2,500 crore Indian organised food business.
The creation of a single national media policy and a single-window clearance for companies involved in the media and entertainment sector will give required fillip to the domestic media industry, says India Inc.
Funds will have to launch products tailor-made for semi-urban, rural markets.
The country"s exports in December have grown to $14.6 billion, up 9.4 per cent over November, on the back of a strong growth in pharma, engineering and auto components sectors, Commerce and Industry minister, Anand Sharma said today.
Fear of rising inflation dragged the Sensex into the red at the beginning of the trading day. However, Reserve Bank of India governor D Subbarao"s positive comments perked investor sentiments in noon trades.
Support at 5,150, resistance at 5,300.
The commodity market regulator Forward Markets Commission (FMC) today said bourses can achieve the turnover target of Rs 80 lakh crore if resumption of forward trading in rice, urad, tur and sugar and launch of options and indices are allowed.
Promoters aim to hike stake; Dalmia’s stake over 25%
Delhi-based businessman Sanjay Dalmia and Indiabulls Financial Services (IFS) have arrived at an out-of-the-court settlement of their legal dispute, the Bombay High Court was informed today. In a related development, the court directed the police not to arrest Dalmia till February 1.
Mega public sector undertakings ONGC, SAIL and NTPC got greater financial and operational autonomy after the government today accorded the Maharatna status to these firms to help them emerge as global giants.
The union government may soon decide on keeping half of the electricity it is entitled to from public sector power generating units for sale to states.
The Prime Minister’s Office does not have any information whether cabinet ministers who were part of the Empowered Group of Ministers (EGoM) to decide on the price of gas from the Krishna-Godavari basin had declared if they had any conflict of interest with regard to Reliance Industries Ltd or the late Dhirubhai Ambani. The PMO has said so in reply to a Right to Information (RTI) query.
Shishir Prashant / Dehradun January 1, 2010, 0:23 IST
The country’s largest retailers — Future Group, Spencer’s Retail and Shoppers Stop — have lined up investments of at least Rs 600 crore for 2010.
The state-owned copper miner Hindustan Copper will soon appoint merchant bankers to advise it on the proposed share sale aimed at part-financing its Rs 3,500-crore expansion plan.
Silicon Valley is beset by the biggest office property glut since the dot-com bust, leaving the US technology hub with empty high-rises and office parks that make it impossible for landlords to sustain average rents.
The domestic exchange traded currency futures on Wednesday witnessed the highest turnover since its launch last year. The combined turnover on the MCX Stock Exchange (MCX-SX) and the National Stock Exchange (NSE), the two exchanges where currency futures are traded, was a record Rs 29,194 crore.
Hyderabad-based Dr Reddy’s Labs plans to launch new generic drugs in various therapeutic segments to push domestic operations and get back on the list of top 10 companies in the country. The company, ranked 13th with a 2.7 per cent share in the Rs 55,000-crore domestic pharma market, is working to increase domestic sales.
Twenty five Indian generic drug makers got a little over 200 approvals from the US Food and Drug Administration (FDA) in 2009, half a dozen more than the number approved in 2008.
The Sensex has rebounded into the positive terrain and is now at 16,386, up 32 points.
After a massive 387 points fall on the Sensex yesterday. The index today opened on a weak note at 16,699 owing to negative cues from the global markets. The index then started slipping further into the red and is now at 16,229, down 123 points.
The Sensex opened in the red at 16,772, mirroring negative global cues. Follow-up selling saw the index slip to a low of 16,636 - down 150 points from the previous close.
The Sensex finally ended (provisional) at 17,032, up 247 points. The NSE Nifty ended (provisional) at 5,060, up 71 points.
The Sensex after attempting recovery has once again slipped into the red. The index is now at 16,677, down 108 points. The NSE Nifty is at 4,947, down 42 points.
Insiders who have been chosen as chief executive officers (CEOs) of companies, like Mukesh Ambani of Reliance Industries and Steve Jobs of Apple, have fared better than those who have been brought in from outside, says a survey.
Government today filed its affidavit in the Supreme Court on the ongoing gas row between the Ambani brothers saying that the arrangement for public sector NTPC cannot be equated with any agreement between RIL and RNRL.
The Sensex has come off from the day"s high and is now at 17,203, up 71 points. The NSE Nifty is at 5,106, up 15 points.
The National Informatics Centre has raised concerns over privacy and security of proposed database of Unique Identification Authority of India(UIDAI), headed by Infosys founder Nandan Nilekani.
Wireless Planning and Coordination (WPC) wing, the highest policymaking wing of the Department of Telecommunications (DoT), has sought clarifications from the department on the licence fees that need to be paid by successful bidders of third generation (3G) auction for acquiring a unified access service licence (UASL).
Disinvestment process in four public sector undertakings is likely to be completed over the next two months, a top government official said today.
Pharma companies in Andhra Pradesh say they are losing heavily due to the Telengana unrest in the State.
Sun Pharmaceutical Industries, India’s largest drug firm in terms of market capitalisation, posted a 11.49 dip in net profit during the quarter ended September 30, compared with the same period last year, due to regulatory issues and the resultant loss of revenue for its US subsidiary, Caraco Pharmaceuticals.
The stock erased all its gains and slipped into the negative terrain to touch a low of Rs 1,005. The stock finally ended at at Rs 1010, down 1% from its previous close. The counter clocked volumes of 136,077 shares as compared to the two-week daily average traded volumes of 147,279 shares on the BSE.
British confectionery group Cadbury today rejected a takeover bid from US giant Kraft Foods, describing the offer as insufficient.
Sun Pharmaceutical Industries has settled a patent dispute with MedImmune, a unit of drug major Astra Zeneca, to dismiss an ongoing litigation in a US District Court. This was on patent rights of Ethyol (amifostine), a drug used to reduce toxicities associated with chemotherapy and radiation in head and neck cancers.
Israeli drug maker Taro Pharma has alleged that Sun Pharma is attempting to seize its control by waging a proxy war.
As many as five companies among the elite club of top-10 Sensex firms have witnessed an erosion of over Rs 24,000 crore from their market capitalisation previous week, while Reliance Industries (RIL) maintained the top position with a valuation of Rs 3.49 lakh crore.
Investor wealth has increased by over Rs 25 lakh crore in just over five months from the beginning of the current financial year, on improving sentiments in the domestic and global markets.
To lure the Business Process Outsourcing and IT/ITeS industry, the Mayawati government in Uttar Pradesh has showered various sops. The realty sector, too, has been blessed with many relaxations.
Oil fell in Asian trade today on profit-taking after overnight gains driven by hopes for improved demand as the global economy recovers, analysts said.
Oil prices rose above $72 a barrel today in Asia as investors looked to a slew of US corporate earnings reports this week for signs of economic recovery.
A global tea shortage may widen this year and extend into 2011 as a rebound in production in Africa, Sri Lanka and India trails demand growth, the world’s biggest tea-plantation company said.
EdServ Softsystems (EdServ), a Chennai-based education and placement company, is planning to raise $25 million (around Rs 115 crore) either through a GDR (global depositary receipt) or an FCCB (foreign currency convertible bond) issue by the first quarter of the next financial year.
Nine of top-10 country"s most valued firms added nearly Rs 49,000 crore last week with the exception of power equipment maker Bharat Heavy Electricals (BHEL).
The Andhra Pradesh government, which won four oil blocks in the VIII round of the New Exploration Licensing Policy (Nelp) bidding on Monday, will invest about Rs 160 crore in oil and natural gas related activities over the next five years.
Viceroy Hotels Limited, a city-based hospitality player, is planning to raise an amount of up to $15 million (approximately Rs 70 crore) through a qualified institutional placement (QIP) of equity shares not exceeding 10 million of Rs 10 each at a premium.
Sunanda K Datta-Ray / New Delhi December 05, 2009, 0:48 IST
A hospital, as the saying goes, is no place for sick people. It’s filled with hazards to your health, not least of which are the myriad infections, missed diagnoses, dosage mistakes and other complications that arise from human error. And, in a hospital, human error seems all but inevitable. How can any one individual, or even any one team of individuals, keep all the tasks straight and anticipate all eventualities 100 per cent of the time?
After getting the power to requisition any aircraft during emergencies, the NSG has got the approval of the Indian Air Force (IAF) to use its planes to transport commandos for anti-terror duties.
The scrip zoomed to a high of Rs 94 and finally ended at Rs 93, up 2.5% from the previous close. The counter clocked volumes of 30.16 million shares on the BSE as compared to the two-week daily average traded volume of 14.87 million shares .
Mahindra Satyam is reportedly on the verge of finalising a deal to payback an undisclosed sum to the Victorian government following the collapse of a $75 million IT project in Geelong.
Mahindra Satyam today said it has received legal notices for claims totalling Rs 1,230.40 crore from as many as 37 companies, to whom it has replied terming these claims as "legally untenable".