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By Kalyani Shankar It is said that a week is long in politics. The current week has shown how true it is. While the doubting Thomases were speculating about the stability of the UPA 2 when the budget session began, it is clear now that no party wants to...
Mumbai: After a lukewarm response to the offer for sale (OFS) route for offloading equity stake in companies, promoters of Mumbai-based Godrej Properties have decided to test the institutional placement programme (IPP) route to sell a 10.6 per cent stake in the company. Both OFS and IPP were introduced...
MUMBAI: The Reserve Bank of India on Wednesday tightened rules for lending against gold by finance companies, saying the rapid growth in such loans in the past few years had increased risks to the banking system and retail investors. The banking regulator has directed that companies having half their...
MUMBAI: The Aditya Birla group, which built the world’s seventh-largest cement business largely through acquisitions, is in talks to buy north-eastern cement maker Adhunik MSP Cement’s Meghalaya plant for over Rs 700 crore. Group firm UltraTech Cement wants to buy the 1.5-million-tonne unit and bolster its presence in the...
New Delhi: The business of running business schools isn’t easy. Around 130 management institutes or 4% of all B-schools in India are expected to close shop this year, twice as many as last year, thanks to faculty shortage, lack of students, substandard curriculum and poor infrastructure. Topping the list...
New Delhi: The prevailing macroeconomic conditions in the country are definitely hurting private equity investments. Policy paralysis, global uncertainties, volatile markets, and a depreciating rupee are dampening new investments. If the past three months are any indicators, here’s a lowdown. December 2011 clocked investments worth $567 million, January 2012...
New Delhi: Hyper-competition, rock-bottom tariffs and huge payouts for 3G spectrum have hammered telecom companies’ return on capital employed (ROCE), limiting their capacity for aggressive bidding in spectrum auctions and upsetting the government’s revenue calculations. Consequently, the Budget target to raise R40,000 crore from spectrum auctions this fiscal may...
New Delhi/Islamabad: The Pakistan government on Wednesday issued a notification for switching over to a negative list regime for trade with India, where the number of products facing a bar on import from the eastern neighbour will come down to 1,209. The Commerce Ministry in Islamabad issued a Statutory Regulatory...
New Delhi: In the wake of the Union Budget proposals, developers of Special Economic Zones (SEZs) say the scheme is heading for an end, with investors’ interest certain to reduce drastically. Developers of SEZs were expecting some positive announcement in the Budget over removal of the Minimum Alternate Tax...
NEW DELHI (Reuters) – India, publicly disdainful of sanctions to pressure Iran, has been left off a list of nations given a U.S. waiver from the measures, but is privately pushing its refiners for substantial cuts in imports from the Middle Eastern country. The United States gave exemptions on...
Mumbai (Reuters) – The BSE Sensex posted its second straight rise on Wednesday to close up 1.65 percent, its best single-day percentage rise in nearly two weeks, led by export-focused software companies and financials on renewed growth hopes. Technology companies TCS and Infosys, which draw more than 50 percent...
On the eve of the World Water Day 2012, the South Asia Network on Dams, Rivers & People (SANDRP) is happy to publish its new report: Water Sector Options for India in a Changing Climate. The report highlights that for the poorest sections, also most vulnerable in the climate...
The boards of Satyam Computer Services Ltd and Tech Mahindra Ltd, IT services providers of the Mahindra group, approved the merger of two companies, according to TV reports. The exchange ratio for the merger was pegged at 2:17 ratio i.e. 2 shares of Tech Mahindra will be given for...
Tech Mahindra had acquired Satyam Computer Services Limited in April 2009, a few months after Satyam was rattled byIndia’s biggest corporate fraud. Satyam was subsequently re-named Mahindra Satyam. Satyam’s reconstituted borad of directors had chosen Tech Mahindra following its bid of Rs 1,757 crore for 31 per cent stake...
Bangalore: B S Yeddyurappa is expected to arrive in Delhi later today from Bangalore to meet with his party’s top leaders. He is likely, say sources in the BJP, to return to Karnataka as chief minister. In July last year, he was forced to quit office after a report...
Mumbai: The Indian rupee dropped to two-week low by slipping 31 paise to 50.70 against the dollar in the late morning trade on sustained demand for the American currency from banks and importers. The rupee resumed lower at 50.50/51 per dollar at the Interbank Foreign Exchange (Forex) market as...
By Nitya Chakraborty BRICS summit in New Delhi on March 28 and 29, 2012 will be very business like this time and India will like to get some concrete proposals approved for working on a joint strategy in dealing with the issues of trade and business cooperation among the...
Differences between Congress and its UPA partners came to the fore yet again on Wednesday with the Trinamool Congress saying allies should be consulted before any “far-reaching” decisions are taken by the government. TMC leader Kalyan Banerjee told reporters outside Parliament that his party chief has Mamta Banerjee already...