IPA Special

India Inc's Sales Growth Rate At 10-Quarter Low

MUMBAI: The fourth-quarter sales growth at 10.3 per cent for manufacturing and software services companies (excluding oil marketing companies, refineries and banks) confirm a demand slowdown for India Inc. The sales growth rate has been a 10-quarter low, dragged by slowdown in the key sectors — capital goods, construction,...

May 31 · >

Incumbents May Pay Market Rate For 2G Waves

NEW DELHI: The government plans to ask all mobile phone companies to pay auction-discovered price for the 2G spectrum they hold for the remaining period of their licences, as it seeks to create a level playing field, said a top telecom ministry official. The move will send shockwaves among...

May 31 · >

Govt Switches On, Lifts Coal Mining Hurdles

NEW DELHI: The government has removed roadblocks to coal mining by leading business houses and taken the first step to relax scrutiny of corporate expenditure on oil and gas fields, in a burst of action that has cheered investors and industrialists in the languishing energy sector. A group of...

May 31 · >

Power Demand Crosses 5000 MW On Wednesday

NEW DELHI: Power consumption in the city touched an all-time high of 5,155 MW at 3.23pm on Wednesday afternoon. The previous record was recorded less than a week ago on Friday. Power sector experts attributed the growing demand for electricity to the rising mercury and noted a trend in...

May 31 · >

Robust Q4 Nos: State-Run Oil Companies May Cut Petrol Price By Rs 2/Litre From June 1

NEW DELHI: State-run oil companies are ready to cut prices of petrol by about Rs 2 per litre after reporting strong earnings, signalling a surprise turnaround in the sector that scared investors with talk of astronomical losses from subsidised fuel sales. Oil marketing companies could cut retail price of...

May 31 · >

State-run insurers asked to raise premiums

NEW DELHI: The finance ministry has asked state-run general insurers to increase premiums on health insurance, motor and other policies, and refrain from undercutting each other to get new business. In a recent letter to National Insurance, Oriental Insurance, New India Assurance and United India Insurance, the ministry laid...

May 31 · >

Bharti Group JV acquires 49% stake in startup Y2CF

NEW DELHI: A Bharti Group joint venture company, set up last year to invest in social media and gaming and partly managed by promoter Sunil Mittal’s son Kavin, has made its first acquisition in the e-commerce space. Bharti SoftBank Holdings (BSB), the JV between the Indian mobile phone firm...

May 31 · >

India Launches Mini-UAV Aircraft Contest

The Indian hi-tech industry is growing fast, but for particular equipment such as modern pocket UAVs,Delhicontinues to launch billion dollar contests (it is to be noted that 10% of armament sales worldwide is directed toIndia). The remote-controlled aircraft, or UAVs (Unmanned Aerial Vehicles) are the latest developments featured by...

May 31 · >

Foreign Investor Norms Eased To Accelerate Capital Inflows

NEW DELHI: The government today allowed qualified foreign investors (QFIs) from six member-countries of the Gulf Cooperation Council (GCC) and 27 countries of the European Commission (EC) to invest in the Indian capital market to enhance foreign capital inflows. Saudi Arabia,Bahrain, the United Arab Emirates (UAE),Oman,QatarandKuwaitare the six countries....

May 30 · >

MCA Panel Seeks Tough Biz Responsibility Norms

NEW DELHI: Companies may now have to inform shareholders about the policies taken by them to tackle the menace of corruption, including bribery. They may also have to inform shareholders of how many complaints they receive, as well as how many they resolve. The committee, constituted by the Ministry...

May 30 · >