Public Relations
A Parliamentary panel today pulled up the Finance Ministry for its failure to take timely action to contain inflation and asked the government to take immediate steps to provide relief to common man reeling under rising food prices.
Business Standard / New Delhi December 08, 2009, 0:32 IST
BS Reporter / Mumbai November 16, 2009, 15:31 IST
An American federal court has upheld a patent violation ruling against Microsoft Corp related to Microsoft Word by restraining the software giant from selling the product in the US.
General Motors today said Chris Liddell, Microsoft Corp"s outgoing finance chief, has been appointed as the vice-chairman and chief financial officer of the auto giant.
Hinduja group firm, Ashok Leyland today said it will roll out 25 products in the next eighteen months from its newly launched truck platform and will shift all existing products to it by 2013.
Harrisons Malayalam Ltd (HML), the integrated agriculture player which is part of the RPG group, is mulling entry into the fruit juice segment in a year’s time. The company produces pineapple and passion fruit at its plantations in Kerala and is evaluating branching out into fruit juice.
A two-day global investors’ meet will be held at Bangalore on June 3 and 4. The state government has appointed a vision group headed by Kris Gopalkrishnan, CEO and MD, Infosys.
Over the next month, Prime Minister Manmohan Singh is expected to review the performance of his ministerial colleagues in their first six months in office. This review exercise could be a precursor to a Cabinet reshuffle, the first since the United Progressive Alliance (UPA) government entered its second term in office.
Oil and Natural Gas Corp (ONGC) and its partners will invest over Rs 46,000 crore (about $10 billion , based on current exchange rate) in two giant gas fields and an LNG project in Iran, Iranian Deputy Oil Minister Seifollah Jashnsaz said.
Lokesh Machines Limited, a Hyderabad-based manufacturer of machines tools and automotive components, will be setting up a six-cylinder heads production line for Mahindra & Mahindra’s Navistar trucks, at the latter’s Pune plant with an outlay of Rs 10 crore. Targeted at the export markets, the Navistar trucks will be rolled out from M&M’s stable in the next five months.
A crucial meeting of the Air India (AI) board tomorrow is likely to take decisions on several cost-cutting measures such as a proposal to scrap the productivity-linked incentives (PLI) to its management cadre, and adopt the financial accounts for 2008-09.
With the BJP now negotiating with Shibu Soren to form a government in Jharkhand, with Soren as the chief minister, one wonders what happens to all the statements the party made in Parliament and outside it about Soren.
The Supreme Court today dismissed a plea challenging the land acquisition by Gujarat government for Tata Motors Nano car project.
Certain private universities have given affiliation to colleges and started off-campus centres beyond their territorial jurisdiction in violation of the University Grants Commission (UGC) norms and the direction of the Supreme Court.
Amid the campaign by some legal activists for impeachment of Karnataka Chief Justice P D Dinakaran, the government today said it was not aware of any such move.
With the political crisis over the Centre’s announcement of creating a separate Telangana state casting its effect on the state capital, two business process outsourcing (BPO) companies have moved their employees to nearby hotels, even as other information technology (IT) companies have beefed security.
Public sector oil marketing companies(OMCs) are projected to incur under-recoveries of Rs 45,478 crore on retail sale of petrol, diesel, domestic cooking gas and kerosene during 2009-10, based on the refinery gate prices in the first fortnight of December.
*Name the person and the name he gave to the theoretical proto-hypertext computer system he proposed in 1945. This has been referred to as the vision behind search engines.
Petroleum and natural gas companies without any experience in executing infrastructure projects will no longer be able to bid for projects under the public private partnership (PPP) model.
FMCG company Hindustan Unilever (HUL) has introduced a new water purifier called Pureit Autofill priced at Rs 3,200 that shuts the inflow of water once the container of the said gadget is full.
ICICIdirect.com, a part of ICICI Securities, today launched its new product for online trading in currency futures.
The Sensex is now at 17,664, down 23 points. The NSE Nifty is at 5,268, down nine points.
Birla Kerala Vaidyashala (BKV), a joint venture between the Yash Birla group and Kerala Vaidyashala, plans to open a store in Malaysia this month, in addition to entering other countries this fiscal, a company official said.
Hyderabad-headquartered infrastructure developer, GVK Power and Infrastructure (GVKPIL), today acquired the entire stake of 17 per cent held by L&T Infrastructure Development Projects in Bengaluru International Airport (BIAL) for a total consideration of Rs 686 crore.
A fresh $1-billion (nearly 4,600-crore) loan from the World Bank under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), to be routed through the Union government, would be linked to cities adopting certain efficiency parameters.
The Mysore Mandakalli Airport will become operational by September 15 just before the Dasara, commencing on September 18, chief minister B S Yeddyurappa said in Mysore yesterday.
To raise funds from market for upgrade of airports
Business Standard / New Delhi November 04, 2009, 0:02 IST
India Infoline Investment Services today said that its Board of Directors has approved the appointment of M N Singh and A K Purwar as independent Directors on the Board of the company.
Value averaging may give better returns compared to sips, but it is complex for retail investors
Global auto component maker Delphi today said it will showcase a number of its automotive technologies during next month"s Delhi Auto Expo including SD card-based navigation and generic body control module designs.
Domestic mutual funds booked Rs 12,639 crore profit in the first half of the financial year by selling equity.
The Sensex remains in the negative zone and is now at 16,808, down 35 points.
Media and entertainment firm UTV Software Communications today said it will raise $150 million (nearly Rs 750 crore) through various channels to meet its growth plans and retire debt.
Valuations can look stretched if the momentum in recovery doesn’t pick up as expected.
The Dubai crisis could have major ramifications similar to the global credit turmoil last year.
In view of a surprising economic growth for the second quarter, Nomura Financial Advisory & Securities (India) today revised the country"s FY10 GDP growth forecast at 7 per cent from 6 per cent earlier.
Anil Ambani-led Reliance Natural Resources (RNRL) today accused Reliance Industries (RIL) in the Supreme Court of unilaterally inserting provisions in the agreement for gas supply, saying it went against the family MoU of 2005 providing for fixed quantity of gas from the KG Basin for 17 years.
The political backlash in Andhra Pradesh over Telangana decision took a new turn today with as many as 20 ministers hailing from coastal Andhra and Rayalaseema regions planning to resign from their posts en masse.
The state owned Industrial Development Corporation of Orissa Limited (IDCOL) has sought allotment of new mines to meet the blast furnace (BF) grade ore requirement of Idcol Kalinga Iron Works Limited (IKIWL) located at Barbil.
The government has ordered the SFIO to probe into mismanagement and financial irregularities in Vedanta Group-owned Sesa Goa and its subsidiary Sesa Industries (SIL), the company said today.
Sidhartha / Mumbai December 04, 2009, 0:42 IST
The fiscal deficit rose by 73 per cent to Rs 3.06 lakh crore in the first eight months of the fiscal against Rs 1.77 lakh crore a year ago, as the government cut taxes and stepped up expenditure to stimulate the economy hit by the global financial crisis.
IDBI Bank Chairman and Managing Director Yogesh Agarwal has emerged the frontrunner for the post of the chairman of the Pension Fund Regulatory and Development Authority (PFRDA).
Direct tax collections in the first eight months of the current financial year increased 3.7 per cent to Rs 1,83,822 crore, against Rs 1,77,251 crore in the April-November period of 2008-09.
The National Bank for Agriculture and Rural Development today said it has sanctioned Rs 121.05 crore as loan to Karnataka to build rural infrastructure projects like roads and bridges, minor irrigation structures, secondary schools, anganwadi buildings, rural godowns and markets and fish jetties in various districts.
More than 500 farmers of villages in Sanand block took out a rally in protest against the land acquisition by Gujarat Industrial Development Corporation (GIDC) for setting up a huge industrial zone in the area.
India Inc is expected to witness a salary hike of 8 per cent, one of the highest pay increases in the Asia Pacific region, in 2010 riding on the country"s improved economic performance, said a survey.
Cadbury Plc, the confectioner that rejected Kraft Foods Inc’s bid on Monday, may attract suitors ranging from Nestle SA to Hershey Co and sell for as much as $21 billion, according to analysts.
The West Bengal government has earmarked 30,000 acres for industrial projects (around 7,000 acres has been allocated, the rest is at different stages of acquisition), but even as it faces one of the most violent battles for land rights, figures for displacement or project-affected persons are yet to be aggregated.
Investigators probing the radiation contamination of a drinking water cooler unit in Kaiga atomic plant in Karnataka have zeroed in on five employees from whose department the heavy water could have been smuggled out.
An Air India enquiry committee has chargesheeted airhostess Komal Singh, who had levelled molestation charges against two pilots of the airlines, for "violating the conduct rule".
Four Wall Street lobbyists and about a dozen lawmakers huddled over eggs and bacon at Tortilla Coast restaurant on Capitol Hill on December 2 to discuss legislation aimed at strengthening bank regulation.
After acquiring 51 per cent stake in domestic money changer and transfer agent Wall Street Finance, the BK Modi Group-promoted Spice Finance is looking to acquire one of Nepal’s biggest money changer and transfer agent, Annapurna Finance, promoted by a local businessman.
The Citigroup may cut a deal with the US government today that will allow it to repay the bailout fund the financial entity had received at the height of the global financial crisis, says a report.
Strong portfolio capital flows into stock markets and direct investments will continue to push the rupee up against the dollar in 2010.
At the end of 2008, banks were staring at a slowing economy, souring retail loans and a tanking stock market. The focus, especially of private and foreign banks, was on containing losses rather than growing.
ITC flared up to a fresh 52-week high of Rs 270, and finally settled with a gain of 3.5% at Rs 269. The counter clocked heavy volumes of around 1.43 million shares on the BSE.
With an aim to diversify into other minerals and metals, the country"s leading aluminium maker Nalco is considering buying coal, copper and uranium mines in Namibia.
The transport drivers’ strike in the Talcher coalfield under the Mahanadi Coalfield Ltd (MCL) has severely hit dispatch of coal to power plants of NTPC and National Aluminium Company (Nalco) in the area among others.
The auction of 3G spectrum is on track and the empowered group of ministers (EGoM) will take a decision on the number of slots to be sold, Telecom Minister A Raja said today.
Former President Bill Clinton did not carry any message on behalf of US Government to the North Korean regime, the Obama Administration clarified today.
Proof of firmly growing buoyancy in demand, says industry.
The Frankfurt Motor Show kicks off on Monday. Here’s a preview of the important cars.
We sail within a vast sphere, ever drifting in uncertainty, driven from end to end,” is what the G20 leaders conveyed to their trade negotiators at the Pittsburgh summit last Friday. Like the previous two summits in Washington and London respectively, the latest event under the leadership of President Barak Obama failed to provide any clear direction on how to end the comatose Doha Development Agenda trade negotiations.
Competes with Mercedes, BMW, Porsche, Audi and Accura
Volkswagen, Europe"s biggest carmaker, and luxury auto manufacturer Porsche said they had approved a plan to merge by 2011 and create an automotive giant.
The scrip soared to a high of Rs 1,244 and finally settled at Rs 1,228, up 2.5% from its previous close. The counter clocked 88,709 shares as comapred to the two -week daily average traded volumes of 115,510 shares on the BSE.
Tata group-owned Jaguar Land Rover (JLR) has secured a 170 million pound (about $284 million) loan from GE Capital in a move to strengthen its financial position, media report says.
Toyota Motor said today that global sales of its hybrid vehicles had topped the two-million mark since their launch in 1997, led by the Prius — Japan"s top-selling car for the past four months.
Patel Engineering, a construction company, has raised Rs 344.32 crore through the fresh issue of shares to qualified institutional buyers (QIBs) at a price of Rs 477.03 per share.
The government is considering a proposal to elevate some Navratna PSUs to Maharatna companies to allow them more freedom regarding investment, Bhaskar Chatterjee, secretary of the Union government"s department of public enterprises, today said.
Development Credit Bank (DCB) today said it will raise funds up to Rs 100 crore by way of private placement of shares with potential buyers.
Bharati Shipyard today said its open offer for a 20 per cent stake in offshore drilling firm Great Offshore will open from December 3 to December 22.
Pakistan has alleged that India"s RAW is backing insurgency in its southwestern Balochistan province and said it is probing the matter.
A senior official of Tata Steel on Wednesday indicated that the steel major might provide a rehabilitation package for the 1,700 workers slated to lose their jobs due to the partial mothballing of its subsidiary, Corus’ Teesside plant in Britain.
The interest rate futures (IRFs) trading in the country will get a boost in coming days, as Life Insurance Corporation (LIC) and Central Bank of India have agreed to provide support to the exchange-traded product. Both these will ensure adequate liquidity on the National Stock Exchange (NSE)— the bourse where IRFs are traded.
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Leading home-loan lender HDFC plans to disburse Rs 3,000 crore over the next two-months under its special housing loan plan, offering an interest rate of 8.25 per cent, launched early this month.
India"s exports fell by 28 per cent in July, for the tenth month in a row, due to the ongoing global downturn, Commerce Secretary Rahul Khullar said today.
The spinning mills of Punjab which were severely hit by the global financial meltdown are now gearing up to utilise higher capacities as the green shoots of recovery are visible in the international market.
Upbeat on higher-than-expected growth rate for 2009-10, Union Finance Minister Pranab Mukherjee today said the continuation or withdrawal of fiscal stimulus to the industry, given to combat the global financial meltdown, would be decided in the Budget for 2010-11 in February.
Alok Industries closed at Rs 22, higher by Rs 1 or 5%, on the BSE.
Union Bank of India is planning to raise $500 million through bonds by the end of this financial year to fund its global operations. The money would be raised under its medium-term note (MTN) programme from the overseas market by March.
The government today said it is expecting to raise about Rs 8,100 crore from the five per cent stake sale in power PSU NTPC through a follow-on public offer (FPO).
The healthcare major GlaxoSmithkline Consumer Healthcare Ltd has posted 19.56 per cent rise in net profit at Rs 55.19 crore for the quarter ended June 30, 2009 as compared to Rs 46.16 crore in the corresponding quarter last year.
World Bank Group member International Finance Corporation (IFC) today said it will give $50 million loan to healthcare major Apollo Hospitals for providing high quality services to smaller cities across the country.
The government must bring down interest rate on loans for self help groups (SHGs) from 11-12 per cent now to a uniform 4 per cent, CPI-M today demanded in the Rajya Sabha. Initiating a discussion on the achievements and problems of women SHGs, Brinda Karat (CPI-M) said the current interest rate is very high and the government must subsidise it by making it a uniform four per cent.
The mystery surrounding Black Rose, the Mongolian ship which sank near Paradip port a couple of months back, appear to be unfolding gradually with the officials of the Criminal Investigation Department (CID) unearthing some vital facts in their probe.
Oil/dollars: Oil and the US dollar used to go together almost as naturally as gold and greed. Times change.
Bajaj Auto, India’s second largest bike maker, today posted a growth of 84 per cent in motorcycle sales in November at 242,390 units, against a dismal tally of 131,681 units recorded in the same month a year ago.
Sensex ends up 35pts
Kanika Datta / New Delhi December 10, 2009, 0:53 IST
J K Paper Mills, a leading paper manufacturing company has initiated the process of registration with the United Nations Framework Convention of Climate Change (UNFCCC) on carbon credits in the forestry sector.
UK-based Barclays today said it would increase workforce in merchant banking segment across Asia by 10 per cent during 2010.
Sun Pharmaceutical has managed to gain more support in its battle to acquire Israel-based Taro Pharmaceuticals.
The withdrawal of stimulus measures by central banks globally may send stocks tumbling next year, predict India’s money managers.
Public sector lenders Bank of Baroda (BOB), Indian Overseas Bank (IOB) and Andhra Bank have signed a joint venture agreement for setting up India BIA Bank (Malaysia) Bhd, a banking subsidiary in Malaysia.
Public sector-lender Indian Bank is planning to increase the number of its branches in Kerala to over 100 from the present 89 during the current fiscal, a top official said today.
Reserve Bank of India Governor D Subbaro today said there is scope for banks to lower lending rates further.
Bank of Baroda (BoB) would open five new branches in Uganda, Trinidad and Malasiya during 2009-10, a top bank’s official said today.
BS Reporter / Mumbai October 27, 2009, 22:21 IST
With the festive season of Diwali round the corner, Surat-based textile traders are facing the cash crunch again. Traders are facing a tough time dealing with a reduced credit limit of mere 30 days as against over 120 days couple of months ago.
The Cotton Corporation of India (CCI) has so far borrowed about Rs 8,000 crore from banks this season to carry out procurement operations on behalf of the government, half of which is yet to be repaid.
Wells Fargo & Co, seeking to wipe away the tarnish of US government bailout funds, kept pace with rival banks by announcing a $10.4 billion share sale to help repay the Troubled Asset Relief Program. The San Francisco-based bank plans to return all of the $25 billion that taxpayers invested last year, according to a company statement issued on Monday.
It"s called initial public offer, but it was promoters who walked away with a lion"s share in this market during 2009, when they sold shares worth about Rs 20,000 crore in their companies to the public shareholders.
The rupee on Monday hit a fresh 15-month high against the dollar. Dealers offered oil companies’ dollar buying and heavy inflow of funds from foreign institutional investors (FIIs) as reasons.
Over-exposure to mid-caps and small-caps, feel analysts.
New Delhi, Dec 18 (PTI) A person seeking global trade mark now need not apply for it in several countries incurring a big cost, as Lok Sabha today amended the trade mark law to simplify the procedures.
The Abu Dhabi Investment Authority is trying to abort an agreement to buy $7.5 billion of Citigroup Inc stock at eight times Wednesday’s price, saying the bank misled it about the investment.
Financial services firm Wells Fargo & Company has said it will repay bailout funds worth $25 billion to the US government.
General Electric Co (GE) is seeking to sell its security unit, which builds surveillance cameras and alarms, and may fetch about $2 billion, people aware of the details said.
The Securities and Exchange Board of India (Sebi) was actively considering allowing repurchase agreements (repo) in corporate bonds to increase liquidity and volumes in the market, Prashant Saran, whole-time member of Sebi, said.
Hedge funds: Hedge funds are back in the land of the living. After a dismal 2008, they had a strong first half. Of course, rising markets aided them. But it helps that because of losses, withdrawals and, above all, a huge reduction in leverage, they wield only about a quarter of the nearly $10 trillion firepower they used to put to work. So trades are less crowded – and more profitable.
The markets have recovered in the past half-hour or so. The Sensex after touching a day"s low of 16622 and is now quoting at 16700, down 19 points, and the Nifty is at 4977, lower by 9 points. The consumer durables and realty sectors are up, while consumer goods, FMCG and power space is seeing lackluster movements. The mid-cap and small cap indices are marginally higher at 6499 and 7941 respectively.
The foreign institutional investors (FIIs) were net buyers of Rs 1,770.73 crore in futures and options segments on Wednesday.
The markets have extended their early morning gains on the back of strength in energy, power and IT stocks. The Sensex is quoting at 16,958, up 266 points, and the Nifty has regained the 5k mark at 5067, up 81 points.
Domestic companies are expected to embark on a mega fund raising spree this year with plans to raise over Rs 50,000 crore by way of public offers, driven by the sharp recovery in the stock market.
DB Corp ended a Rs 265, stronger by about 25% to its issue price of Rs 212.
Global banking major, Standard Chartered, which is widely expected to list its shares on the bourses here in the first half of next year, said the listing would enhance the lender"s commitment to the local market. "The issue of proposed Indian Depository Receipts (IDRs) demonstrates our commitment to India," Standard Chartered, Global CEO, Peter Sands said.
Business Standard / New Delhi October 28, 2009, 0:09 IST
The Nifty has pulled back from a low of 4,942 to above 5,100 with support from positive global cues and short-covering. The index today closed at 5,144. Technically, the V-shaped pullback should have halted at around 5,090, but excessive short-covering saw the index close at the 5,144 level. However, the December futures changed hands at the 5,096 level, indicating there were few takers at higher levels.
Tata Sons, the holding company of the Tata Group, sold close to 25 million shares in Tata Consultancy Services (TCS) in the 2008 financial year, raising Rs 2,500 crore to increase stakes in other group companies like Tata Steel, Indian Hotels, Tata Power, Tata Tea and Trent.
Many smart buyers wait for the year-end to buy a car. Auto makers and dealers come up with the best discounts in the month of December to clear stocks. But if you are planning to buy a car any time soon, the current festive season could be an equally attractive opportunity, thanks to the availability of cheaper finance.
As companies step into the new year, they realise that they may have to live with lower growth and costlier money as 2010 could be more challenging than 2009.
Business Standard / New Delhi December 29, 2009, 0:14 IST
Trapped by the Inca! For violating the sacred temple! Tied to stakes atop a pyre which will soon be lit by the rays of the sun, concentrated by a lens! But why does Tintin look so calm? Ah, it is because he knows something these colourfully dressed Incas don’t: there is going to be a solar eclipse. Tintin calls out to the sun to hide his face, and lo and behold! the god obeys. Tintin and his friends are saved; nay, they are treated as demigods by the hapless Incas.
Rrishi Raote / New Delhi July 25, 2009, 0:52 IST
Ali Sethi writes a coming of age saga but hopes for a revival of the region"s progressive culture.
Filmmaker, translator of Sanskrit erotica, and India"s famous "shaved head" Pritish Nandy is committed to making "movies that rock".
That the new direct taxes code is proving embarrassing for the government is obvious, it’s just that one didn’t realise the government felt the same way as well. At one point the code says, “A business shall be distinct and separate from another business if there is no interlacing, inter-dependence or unity ‘embarrassing’ the two businesses.” Now that’s embarrassing.
Business Standard / New Delhi October 27, 2009, 0:46 IST
GELFAND AND Ponomariov have drawn game one in the four-game World Cup finals. At stake is a spot in the Candidates. Top seed Gelfand has had a much smoother passage to the finals. Seventh seeded Ponomariov had to fight harder. In the semis, Gelfand beat Sergein Karjakin, 2-0 in nomal time while Ponomariov won a hair-raising tiebreaker after losing the first game to Vladimir Malakhov.
Titan Industries (TIL) plans to tap the rural and semi-urban markets with its Sonata brand of watches, company officials said while launching new designs of its "Super Fibre" range here today.
Passengers flying in and out of the Mumbai airport are likely to face a tough time on every Tuesday for the next five months as the intersection point of the two runways would remain closed for a few hours that day.
Around four months ago, the new Boeing airplane for Prime Minister Manmohan Singh arrived in India. But the prime minister didn’t get an opportunity to fly in it because of the elections. Now, Singh has used the plane to fly to Thailand for the 7th India-Asean summit. The ultra-modern aircraft has a bedroom and a conference room for the prime minister apart from special chambers for his aides. It is equipped with security gadgets of the likes used in Airforce One to protect the US president.
Titan Industries, which sells jewellery and watch among others, has set a goal of crossing the $1 billion-mark turnover in the current fiscal.
Comprehensive civil nuclear pact to be signed during PM’s visit.
The tri-nation gas pipeline between India, Bangaladesh and Myanmar may take shape in two to three years time, Myanmar Ambassador U Kyi Thein said here today.
The stars are in their 40s or more, playing roles unsuitable to their age. A new generation of actors waits in the wings.
Garments maker Provogue India today said that it will open 17 more showrooms across the country in the current fiscal taking the total number of stores to 143.
Indian telecom majors Bharti Airtel and Reliance Communications (RCom) have sought to build a fibre optic network in Bangladesh to get connected to the isolated north-eastern states, a report said on Sunday.
Adani Power has fixed the price at Rs 100 per equity share for its initial public offering (IPO) of 301,652,031 equity shares of Rs 10 each for cash.
The country"s second-largest realty firm, Unitech, is likely to raise $200 million (nearly Rs 1,000 crore) within the next three months by selling stake in its affordable housing projects to private equity players.
Unitech Ltd, the country’s second-largest property developer, reported a decline of 22 per cent in its consolidated net profit for the quarter ended March 31 to Rs 279.7 crore, compared with Rs 360.2 crore for the corresponding period last year. Net profit for the full year 2008-09 also fell 28 per cent at Rs 1,197.7 crore, compared with Rs 1,661.9 crore for the corresponding period last year. Revenue for the year came down 23 per cent, to Rs 3315.6 crore, as compared with Rs 4,280.1 crore for the corresponding period last year.
The markets rebounded strongly towards close, riding on the back of a recovery in Europe. The Sensex recovered more than 400 points from its intra-day lows to close at 16,632, down 222 points and the Nifty ended at 4,943, lower by 62 points.
A strong brand, robust performance and healthy growth prospects provide comfort, but the IPO pricing caps any near-term gains.
Leading tour and travel operator Cox and Kings today said it has fixed the price band for initial public offer (IPO) between Rs 316 and Rs 330 per share.
Bharti Airtel, the country"s number one mobile telephony service provider in terms of subscriber base, has said it welcomes the per-second billing plan mooted by the Telecom Regulatory Authority of India (Trai).
Reliance Mutual Fund, the country"s largest fund house, today said it is open to acquisitions if some good opportunities come its way.
Pune-based realty firm Kumar Urban Development plans to raise Rs 450 crore through an initial public offer (IPO) to fuel its expansion plans and pay-off debts.
Indian Air Force today deployed two MI-17 helicopters to carry out flood relief operation in and around Pursura and Khanakul areas of Hooghly district, nearly 100 km northwest of here.