Public Relations
BS Reporter / Mumbai November 16, 2009, 15:31 IST
The boundary between a television set and a computer is blurring. Consider Zenith Computer-promoted Vu Technologies’ offering, the Intelligent TV, which is a television-cum-PC with a Microsoft Windows operating system (OS).
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.
A friendlier tax regime, more retail investor participation, low interest rates and inflation, and speedy government disinvestment programme -- these are but some of the things that Dalal Street wishes comes true in 2010 to keep rolling.
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.
In the past three sessions, the market has tested 5,015 and pulled back.
Dabur"s promoter family member Gaurav Burman-led Atlas Acquisition today said it will acquire US-based staffing and employment services company Koosharem Corporation for $840 million (around Rs 3,900 crore) and merge with itself.
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.
Production to begin in 12-15 months; second such venture.
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.
A section of Air India employees owing allegiance to ACEU has threatened to strike work from December 22 to protest the management"s proposed move to withdraw some facilities now available to them from January 1.
Indian Oil Corporation (IOC) has decided to commission a detailed feasibility report (DFR) on a 2.5-million tonne a year liquefied natural gas (LNG) import terminal at Ennore, on the outskirts of Chennai. The company is also exploring the possibility of setting up a power plant with the terminal.
The Supreme Court today dismissed a plea challenging the land acquisition by Gujarat government for Tata Motors Nano car project.
State-run gas utility GAIL India has bought an LNG cargo for $6.65 per mmBtu, about $2 million more than the rate at which Petronet LNG imported a shipload just two days later.
A cargo vessel carrying soda ash consignment from Veraval Port to Calicut capsized after travelling 60 nautical miles into the Arabian sea between Jafrabad and Diu here today, Gujarat Maritime Board (GMB) officials said.
Air India is likely to receive the first tranche of equity infusion by December, Civil Aviation Minister Praful Patel said today.
The government will infuse equity into Air India by March, but only if the ailing state-run carrier manages to generate another Rs 2,000 crore by increasing revenue and cutting costs.
Gujarat Urja Vikas Nigam Limited (GUVNL) is aiming to enter into a long-term power purchase agreement (PPA) with Gujarat State Petroleum Corporation (GSPC) for its upcoming power units.
At least half a dozen flights of Jet Airways were cancelled from here today as a large number of pilots did not report to work in protest against sacking of two of their colleagues. Flights from Hyderabad to Chennai, Mumbai, Goa, Delhi and Rajahmundry were cancelled, a Jet Airlines spokesman said here today.
India Infoline has posted a consolidated net profit of Rs 58.02 crore for the quarter ended September 30, 2009 as compared to Rs 40.21 crore for the quarter ended September 30, 2008.
Capital infusion should help DTH market leader Dish TV to consolidate its position in a highly competitive segment.
Bank credit fell sharply in the first half of the financial year, but the overall funds flow to the corporate sector was virtually the same as the corresponding period last year.
Business Standard / New Delhi November 04, 2009, 0:51 IST
Motilal Oswal Financial Services reported a 74 per cent year-on-year growth in net profit to Rs 47.2 crore for the quarter ended September 30, 2009.
I am a 65-year-old retired engineer and live with my wife, 58. Both my children are married and well-settled. My wife and I have a mediclaim policy of base value Rs 1 lakh each (now approximately Rs 1.5 lakh). We would like to be financially independent all our lives. Advise me as to any change required in my financial plan, particularly with regard to regular investment in mutual funds.
Market regulator Securities and Exchange Board of India (Sebi) today said it wants to bring down the time required for IPO processing to seven days from 20 days at present over the next one year.
Demand from mutual funds (MFs) continued to fall today as the rates on short-term money market instruments stayed low, dealers said.
Credit rating company Crisil has maintained a stable outlook on Reliance Industries Ltd, reaffirming its ratings on the debt instruments and bank facilities. This is after RIL’s announcement on its preliminary non-binding bid for the acquisition of LyondellBasell Industries (LBI).
The Sensex has extended losses to touch a low of 16,732. The index is now at 16, 737, down 100 points. The NSE Nifty is at 4,969, down 25 points.
Valuations can look stretched if the momentum in recovery doesn’t pick up as expected.
The financial services industry will see significant changes.
The Anil Ambani-led Reliance Natural Resources (RNRL) today strongly objected in the Supreme Court to the grounds raised by the Mukesh Ambani Group to counter its contention on the supply and pricing of gas from the KG Basin.
The RBI governor’s statement that capital inflows are manageable perked up investor sentiments. FIIs bought stocks worth Rs 400 crore in the first four trading sessions. However, rising food inflation curbed gains. BSE Sensex rose marginally by 17 points or 0.1 per cent to 17,119, while Nifty rose 8.4 points or 0.2 per cent to 5,117.
Since October, stocks of hotel companies have done reasonably well having outperformed the BSE Sensex. While most of them have underperformed the broader market since January last year till March 2009, the key reason for the recent upmove is that the fundamentals of the industry are showing signs of improvement helped by the domestic demand.
US medical devices maker Boston Scientific Corp today said it will pay $1.73 billion to settle three patent disputes with healthcare firm Johnson & Johnson (J&J).
Intense competition and lifting of trading ban on four agri products will help the commodity futures exchanges end 2009 with a record turnover of up to Rs 70,00,000 crore, up 39 per cent from last year.
With turnaround in exports, the finance ministry is likely to withdraw a string of fiscal stimulus given to exporters to fill in the "budgetary hole", commerce secretary Rahul Khullar said today.
JSW Energy, part of the $8-billion JSW Group, today said the company plans to scale up its capacity to 11,390 Mw which entails an investment of over Rs 50,000 crore.
Sensex has ended (provisional) at 17,478 - up 134 points.
Recommending higher allocation for animal husbandry, dairy and fisheries, a House panel has wondered as to why the sector got only 7.7 per cent of the allocated funds of the Agriculture Ministry last fiscal, even though it accounted for 31 per cent of the total farm output.
Never mind “best of” lists, here’s a look at the good, the bad and the ugly of the year in music.
State-owned Dena Bank has reduced home loan rates for new customers as part of festival offer.
The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 159.86 crore under Rural Infrastructure Development Fund (RIDF) XV to West Bengal. This includes an innovative Heifer Production Project (Rs 8.61 crore) in Kalyani. The project would generate and supply good quality crossbred cows and buffaloes throughout the state to boost milk production.
The Department of Telecom (DoT) is hopeful that the Defence Ministry will release more spectrum for the 3G radio wave auction scheduled for next month.
The small and marginal farmers of Haryana would soon overcome the power shortage as the state government is in advance discussions with the ministry of renewable energy to revive the concessions for the SPV (Solar Photo Voltaic) pump sets.
Hershey: Hershey is smaller and brings less to the table than Kraft Foods in a potential takeover battle for Cadbury. But the U.S. chocolate and gum maker may have one distinct advantage in the battle for the UK confectioner: a potentially irrational owner.
The qualifying bids for three Ultra Mega Power Projects (UMPPs) in Orissa, Chhattisgarh and Tamil Nadu would be invited by the end of the current fiscal, a senior government official said today.
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.
In a twin decision on its global operations involving about Rs 27,000-crore investment, the state-owned aluminium major Nalco has shelved its proposed project in South Africa, and has put on hold the one in Iran.
The country"s largest auto maker, Tata Motors, today posted 34.42 per cent jump in its total sales during October at 53,404 units.
Auto company Mahindra & Mahindra (M&M) today reported 32.11 per cent growth in domestic sales of its utility vehicles in October at 18,410 units.
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.
The country"s leading public sector general insurance player, Oriental Insurance Company, is seeking insurance regulator Irda"s approval to open an office in Doha, the capital city of Qatar.
A big controversy on procurement of Rs 35,000 crore worth equipment by telecom behemoth BSNL is brewing with position taken by the two government nominees on the Board, threatening mega expansion programme of the PSU.
Competes with Mercedes, BMW, Porsche, Audi and Accura
The Sensex after touching a low of 17,028, has recovered a bit and is now down 100 points at 17,080.
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.
US conglomerate General Electric (GE) today announced it would sell its security unit to United Technologies Corp for $1.82 billion.
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.
Oil crept higher today after OPEC maintained its output quotas at existing levels, analysts said.
With greenshoots of economic recovery becoming visible, a top banker was today optimistic that India will record a growth of 7-7.5 per cent in this fiscal.
India, China and other developing nations have played a key role in checking the economic crisis, World Bank President Robert Zoellick has said, adding there is need of multiple poles of growth as the global economy can no longer rely on the US consumers.
After months of hampered operations, there is now an official assurance that the floundering Haldia Dock Complex (HDC), West Bengal"s only facility capable of handing large vessels, will have a new navigational channel by the first half of next year.
Corporate acquisitions in India could become costlier with market regulator the Securities and Exchange Board of India (Sebi) mulling making it mandatory for acquirers to make an offer for up to 100 per cent stake in any listed company.
Offshore oil drilling and production services company Aban Offshore today opened bids for its Rs 1,000-crore qualified institutional placement (QIP) issue.
Global steel giant ArcelorMittal"s open offer for a 29.4 per cent stake in domestic company Uttam Galva will begin on December 19, according to a Bombay Stock Exchange (BSE) filing by the secondary steel maker.
The listing of three big initial public offers (IPOs) — JSW Energy, D B Corp and Godrej Property — this week would be yet another test for the lackluster primary markets.
In what could be termed as a victory for home grown FMCG player Emami, the Kolkata Civil Court has restrained Hindustan Unilever (HUL) from running a campaign using the word "Boro" in its advertisement for Vaseline.
Tata Group auto component firm York Transport Equipment (Asia) today said it plans to set up a new factory in the country to produce axles as it looks to increase sales volume by 10 times in the next five years.
Pakistan has alleged that India"s RAW is backing insurgency in its southwestern Balochistan province and said it is probing the matter.
RBI is expected to increase CRR next month to signal a rate increase.
Reviving its plans to hit the capital market, software product development services firm Persistent Systems, has filed a Draft Red Herring Prospectus (DRHP) with market regulator the Securities and Exchange Board of India (Sebi) to offload around 5.42 million equity shares.
M J Antony / New Delhi September 9, 2009, 0:40 IST
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.
The public sector copper producer Hindustan Copper (HCL) today said it will come out with a follow-on public offer (FPO) to raise Rs 1,700 crore by diluting 10 per cent stake for part-funding its expansion plans.
HCL Technologies closed at Rs 355, higher by Rs 6 or 1%, on the BSE. It opened at Rs 350 and touched a high of Rs 357 and a low of Rs 349 during the day. The stock saw trading volumes of 517,850 shares as against the 2-week average of 172,036 shares.
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.
- A practical strategy - Reacting to rumours - Mastering money making - Don't be bold on gold - Getting rid of government controls - For the risk-takers
A V Rajwade / New Delhi November 2, 2009, 0:32 IST
Over 10 per cent rise of rupee against the US dollar has become a "big worry" for exporters at a time when they saw arrest in sharp decline in the country"s exports amid a hope of recovery.
India’s place as the leading location for legal process outsourcing (LPO) could face intense competition from emerging nations like South Africa and Philippines during 2010, according to a research report from LPO consultancy firm Fronterion.
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.
Nakheel PJSC, the real estate company of debt-laden conglomerate Dubai World, has reported a loss of 13.4 billion dirhams ($3.65 billion) in the first half of this year.
UK-based Barclays today said it would increase workforce in merchant banking segment across Asia by 10 per cent during 2010.
Bolstering the world economic recovery and crafting a deal to fight climate change will be top of the agenda for G20 finance ministers meeting tomorrow in Scotland.
Unlike in the past when economic growth did not translate into increased employment, the current investment boom is likely to have caused a spurt in jobs growth, argues Mahesh Vyas
Domestic crude oil production in India declined by 1.2 per cent in HI of the current fiscal from the same period a year ago due to fall in output by oil exploration and production major-- ONGC, an economic think-tank said in its report.
Aditi Phadnis / New Delhi December 12, 2009, 0:15 IST
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.
State-run lender Andhra Bank today said its net profit rose by 69.58 per cent to Rs 273.97 crore for the second quarter ended September 30, 2009, over the same period last year.
Key supporters of charismatic Indian-American Governor of Louisiana Bobby Jindal have set up a political action committee to facilitate a possible 2012 presidential bid and aim to raise $60 million in funds.
Three overseas financial giants have evinced interests to pick up 26 per cent stake in UTI AMC, where four stakeholders, including LIC and SBI have 25 per cent stake each.
The MCX Stock Exchange (MCX-SX), which is still some distance away from launching trade in equities, has already drawn up a strategy to lower costs significantly to take on established players.
The Supreme Court today issued notices to Reliance Gas Transportation and Infrastructure Ltd, and the Ministry of Petroleum and Natural Gas on the appeals moved by more than 50 land owners of Surat, alleging that the Mukesh Ambani-led company had not paid them adequate compensation for acquisition. Their land will be used for laying pipelines to transport gas from the Krishna-Godavari basin to Gujarat.
Public sector Corporation Bank has posted 52.29 per cent increased in its net profit to Rs 291.67 crore for the second quarter ended September 30, 2009 as compared with the corresponding quarter in the previous fiscal.
- Traders expect resistance above 5,100 - Expiry effect in overbought market - Traders expect index to move below 5,000 in near future - Market may open on a steady note - Far from money spreads could pay - Nifty likely to see more corrections in near term
FII attitude may be key
Private sector lender Kotak Mahindra Bank today reported 86.22 per cent rise in its net profit at 299.76 crore for the second quarter ended September 30, 2009, over the same period last year.
Displays no eagerness on DoT suggestion to retender.
Bangalore-based defence public sector, Bharat Electronics Limited (BEL), today reported a robust 91.8 per cent rise in net profit at Rs 237.3 crore for the second quarter ended September 30, 2009 compared to the corresponding quarter last fiscal. The operating profit for the quarter went up over two times to Rs 300.8 crore compared to the same period last year.
The Ministry of Textiles, Government of India is planning to infused additional capital of over Rs 1,600 crore to Cotton Corporation of India (CCI). The Ministry also set a target to inaugurate seven mills which are moderinised at the outlay of Rs 130 crore in the next 100 days.
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.
Shyamal Majumdar / Mumbai January 07, 2010, 0:37 IST
Prime Minister Manmohan Singh today said economic reforms have helped reduce poverty in the country but admitted the rate of decline should have been faster.
Although Smart Portfolios kicked off on September 1, 2009, it feels good to end the calendar year on a cheerful note. The net returns in the second season are at the highest point currently. The benchmark S&P CNX 500 portfolio value has appreciated by 12.73 per cent to Rs 11.27 lakh as against its starting corpus of Rs 10 lakh. Ajay Parmar and Amar Ambani continue to outperform the benchmark with a wide margin. While the former"s return has zoomed 20.46 per cent, the latter"s portfolio value has soared nearly 19 per cent. Phani Sekhar has reported gains of 6.72 per cent so far, and Praveen Panjwani"s net worth is up by 6.3 per cent.
Education solutions provider Edserv Softsystems today said it has received approval from its shareholders to raise funds through various options, including issuing securities of up to $500 million (about Rs 2,200 crore) in the overseas market.
UCO Bank has recorded 22.05 per cent growth in advances and 19.77 growth in deposits for the quarter ended December 31, 2009.
Business Standard / New Delhi January 06, 2010, 0:08 IST
A V Rajwade / New Delhi November 09, 2009, 0:05 IST
Indian corporate gifting companies are set to laugh all the way to the bank this New Year. For, after a temperamental period in 2008 and 2009 on account of the recession, corporate biggies have finally started loosening their purse strings and placing orders for high-end gadgets like iPods, digital photoframes and dual-SIM handsets to dole out to their employees as well as clients.
Purchase of Affiliated Computer Services to help Xerox triple sales from services
While many of his fans, particularly in the US, appear disappointed, I, for one, believe that Mr Obama has had an extraordinarily successful first year as president.
The foreign institutional investors (FIIs) were net buyers of Rs 1,770.73 crore in futures and options segments on Wednesday.
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.
Over 15 senior executives of the PricewaterhouseCoopers (PwC), whose Bangalore-based arm audited accounts of scam-hit Satyam Computer Services, have quit and would be joining PwC"s global rival KPMG.
The initial public offer of DB Corp, publishers of Hindi daily Dainik Bhaskar, has received an overwhelming response from investors and got subscribed 14.60 times on the final day of the issue today.
The Federal Reserve Bank of New York gave up efforts to save taxpayer money on American International Group Inc’s rescue after the insurer’s biggest trading partners refused to make concessions, said a Treasury watchdog.
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.
Nine years after it exited the business, Premier Auto is making a comeback in passenger cars. The Doshi family, promoters of one of India’s oldest car companies, known for the once-ubiquitious Premier Padmini, are set to launch a compact sports utility vehicle (SUV).
Godrej Industries, leading chemicals manufacturer and exporter of chemicals products, has entered into a memorandum of understanding (MoU) with Godrej & Boyce Mfg Co and Godrej Properties for development of the property at Vikhroli.
Godrej Properties has fixed a price band of Rs 490-530 per equity share for its initial public offer, which is scheduled to open for subscription on December 9.
Asserting that it has positive cash-flow position, debt-ridden Dubai World"s subsidiary DP World, which operates container terminals in the country, today said the debt crisis would have no impact on India operations.
In a gesture towards pensioners over the age of 80, the government has decided to accept voters" ID cards as age proof for getting the post-retirement benefit.
With the new UPA Government expected to give a push to economic reforms, LIC Housing Finance Ltd (LICHFL) hopes the Centre would resolve some pending issues to enable it to launch long-awaited reverse mortgage scheme for senior citizens.
Kolkata-based United Bank of India (UBI) has filed draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), for an initial public offering (IPO), with the issue size of Rs 50 crore.
The UPA government"s proposal requiring public and private sector companies to maintain religious profile of their employees has not gone down well with several corporate leaders, though some say they can live with it.
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.
There are several ugly faces of fashion: anorexic models who survive on cigarettes and coffee is just one such instance. But, by far the ugliest thing that has happened to Indian fashion is the ongoing fight between the various “bodies”. Two bodies — FFI and the government mandated FDPC — have triumphantly announced that they have now merged and will work for the betterment of fashion. FDCI, the original fashion apex body, continues to stay aloof of this merger and may or may not also merge with FDPC.
Filmmaker, translator of Sanskrit erotica, and India"s famous "shaved head" Pritish Nandy is committed to making "movies that rock".
Net interest income growth still remains subdued.
Cairn India, part of the UK-based Cairn Energy, said it would merge the oil and gas businesses of four of its subsidiaries with itself, a move that would improve administrative efficiencies.
TOP SEED Boris Gelfand edged Ruslan Ponomariov to take the World Cup and a place in the next Candidates. Gelfand held his nerve after the four normal games were drawn without much excitement. Gelfand won the second rapid tiebreaker and lost the fourth. Then, he won the second blitz, lost the third and finally won the fourth and last blitz game.
To bring down its aircraft strength of 133 to 95, National Aviation Company Ltd (Nacil), which runs Air India, has worked out a combination of leasing, selling and phasing out of its existing fleet.
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.
Deal goes ‘much further’ than the 123 agreement between India and US.
Seeking to take forward the strategic partnership to new heights, Prime Minister Manmohan Singh today made it clear that India"s relations with third countries will never be at the cost of "time-tested ties" with Russia.
Satyam Computer Services Ltd (SCSL) founder, B Ramalinga Raju, his brothers and their spouses have acquired 1,065 properties with a registered value of Rs 350 crore.
The outgoing chairman of the Company Law Board (CLB) S Balasubramaniam on Wednesday said that lack of qualified manpower at independent quasi-judicial body could impede its functioning in the medium-term, especially considering the delay in the implementation of the proposed National Company Law Tribunal (NCLT).
Provogue India has invested over Rs 1,500 crore for setting up six new malls, which would be developed by its real estate arm, Prozone Enterprises, and come up in the next two years.
Kolkata came to standstill on the eve Durga Puja as major breakdown in CESC system caused massive power cut for several hours. A sudden breakdown of electricity supply to the city lasting for hours gave a creepy feeling to the people on the eve of Durga Puja. The breakdown in power supply affected Metro Rail, city"s major hospitals, the High Court, the state"s administrative headquarters and the commercial hubs. The CESC which is responsible for maintaining electric supply to the city, had a major breakdown in its system, causing a shortfall of 635 mw. According to CESC, one of its 132 KV substation line snapped in the morning causing the breakdown. As a result, two of its units in Budge Budge power station and one in Southern Generating Station went out of the system. To save other power stations from tripping, the CESC had to isolate other units from the grid.
Continuing its yesterday pullback coupled with strong cues fromm global markets, the Sensex opened with a positive gap of 110 points at 17,069. The index soon spurted to a high of 17,121 and thereafter exhibited firm trend till noon trades.
Abhineet Kumar / Mumbai September 9, 2009, 0:20 IST
The Sensex has ended at 16,647, down 208 points, and the Nifty has ended at 4943, lower by 63 points (provisional closing).
The Sensex is now quoting at 16,236, down 618 points and the Nifty is at 4,866, lower by 139 points.
Intrasoft Technologies, which runs greetings card website 123greetings.com, will enter the capital market to raise funds and has filed draft papers with market regulator Securities and Exchange Board of India (Sebi).
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.
While high proportion of restructured loans is a near-term dampener, strong volume growth and higher margins augur well for the bank.
Not since the dark decade of the 1990s, when the Indian Air Force crashed 177 aircraft — losing 54 young pilots and some Rs 1,000 crore worth of equipment — has the air force faced such a pilot training crisis. The long-delayed Hawk trainers, which began arriving in India in 2007, have improved advanced training for IAF flyers. But the crucial introduction to flying, conducted in antiquated HPT-32 Deepak and HJT-16 Kiran aircraft, is taking a growing toll on pilots’ lives.
Global wealth management major, SG Private Banking today said it has adopted the brand Societe Generale Private Banking effective from January 1.
Business solutions company Aditya Birla Minacs has partnered with NorthStar Systems International, a provider of wealth management software solutions, to provide a total wealth management package.
On a takeover battle with ABG Shipyard for acquiring control of Great Offshore, Bharati Shipyard said that it was expecting the Sebi approval for the open offer soon.