Strides Arcolabs has acquired 17.7% stake in Genepharm. Strides will vend its Australian and Asian businesses in lieu of the stake. It also has the option to raise its stake to 55% on successful completion. Speaking to CNBCTV18, Arun Kumar, VC, Strides Arcolabs said they need shareholder approval before they get the majority stake. Source: Moneycontrol Top Headlines | 8 Feb 2008 | 3:35 pm
There is a lack of consensus between the Department of Revenue and Commerce Ministry on the issue of fiscal concessions to social infrastructure in SEZs, reports CNBCTV18, quoting sources. The Commerce Ministry will put forward the new proposals on social infrastructure to the Group of Ministers (GoM) on SEZs in their next meeting, sources added. Source: Moneycontrol Top Headlines | 8 Feb 2008 | 3:22 pm
MUMBAI (Reuters) - Indian shares ended a seesaw session 0.35 percent lower on Friday, with investors wary of uncertainty in global equity markets, while two firms withdrew their initial public offers (IPO) due to volatility.
Over the last month, there has been much talk about the grey mkt. Post Rel Power, every IPO arouses questions on the grey mkt premium? People base their assessment on this to buy or sell into that IPO. Mkts whispers on numbers and how trades are executed. In a CNBCTV18 exclusive, some actual participants speak on how the grey market works. Source: Moneycontrol Top Headlines | 8 Feb 2008 | 12:11 pm
NEW DELHI (Reuters) - The government hopes to open subscriptions for a $4.2 billion rights issue in the country's largest lender State Bank of India (SBI) on Feb. 18, a finance ministry official said on Friday.
Firstsource has bagged a USD 80 million deal from Barclays. Rajesh Subramaniam, CFO, said the 5year, USD 80 million deal is at current margin levels and that it will be equally spread out over the period. He said it was too early to comment on US listing yet, reports CNBCTV18. Source: Moneycontrol Top Headlines | 8 Feb 2008 | 11:10 am
MUMBAI (Reuters) - India's Emaar MGF Land, an Indian joint venture of Dubai's Emaar Properties, has postponed its on-going initial public offering, the company said on Friday.
MUMBAI (Reuters) - India's Wockhardt Hospitals Ltd has shelved its initial public offering, becoming the first Indian listing hopeful to pull its deal as market turbulence saps appetite for risk.
MUMBAI (Reuters) - Indian state-run agencies have completed importing about three-fourth of the total pulses that it contracted in the year ending March 2008, the government said on Friday.
State owned power equipment manufacturer Bharat Heavy Electricals Ltd (BHEL) has bagged a Rs.34 billion contract to execute a power project at Anpara in Uttar Pradesh, the company said Friday. Source: IndiaeNews.com: Business News | 8 Feb 2008 | 10:02 am
Air India Friday launched its non-stop flight from New Delhi to New York that will cut down travel time between the two cities by at least three hours, company officials said. Source: IndiaeNews.com: Business News | 8 Feb 2008 | 10:01 am
Mumbai-based offshore BPO firm Firstsource Solutions Ltd (FSL) has signed a five-year $80 million outsourcing partnership with financial services provider Barclays PLC for credit card business in the US. Source: IndiaeNews.com: Business News | 8 Feb 2008 | 10:00 am
Larsen and amp; Toubro Ltd (L and amp;T) has bagged orders worth Rs.11.07 billion from the Steel Authority of India Ltd (SAIL) for turnkey construction of a coal and coke handling plant and a base mix preparation plant at its plant at Burnpur in West Bengal, the company said Friday. Source: IndiaeNews.com: Business News | 8 Feb 2008 | 10:00 am
MUMBAI (Reuters) - India's gold demand was low on Friday as prices remained firm on news of supply problems in a big mining company and firmer crude oil, but traders waited to buy on dips in the local market, dealers said.
CNBCTV18s Vishwanath Pilla and Allister D\'souza report that mixing movies and gaming seems to be Hyderabads new mantra. The Andhra government seems to be bullish on its gaming and entertainment industry. It is planning India\'s first digital entertainment city in collaboration with FX Labs, Suresh Productions, Gemini TV and DQ Entertainment. Source: Moneycontrol Top Headlines | 8 Feb 2008 | 9:18 am
The Finance Minister, Mr P. Chidambaram, on Thursday expressed confidence that the economic growth rate for 200708 would finally turn out to be better than the 8.7% advance estimate put out by the Central Statistical Organisation (CSO) today, reports Business Line. Source: Moneycontrol Top Headlines | 8 Feb 2008 | 8:52 am
The Nigerian 419 scam has assumed a new face by targeting international job seekers; it continues to haunt and dupe unsuspecting people. This time the scamsters are cashing in on the fast growing employment market in the country and are alluring people with lucrative and enticing foreign job offers, reports CNBCTV18. Source: Moneycontrol Top Headlines | 8 Feb 2008 | 8:45 am
NEW DELHI (Reuters) - Indian inflation breached 4 percent in late January, its highest in nearly five months, and analysts said the upswing meant the Reserve Bank of India (RBI) was unlikely to loosen its grip on rates anytime soon despite slowing growth.
The TRAI has called a meeting of the three primary owners of undersea cables in India Bharti, Reliance Communications and Tatamanaged VSNL in a bid to set up a mechanism that would make Indias communication network more resilient against cable cuts in future, reports Business Line. Source: Moneycontrol Top Headlines | 8 Feb 2008 | 8:34 am
Marking further progress on its equipment manufacturing foray, NTPC Ltd on Thursday entered into a pact with Bharat Forge Ltd to set up a joint venture unit for manufacturing castings and forgings for power plants at an investment of Rs 3,000 crore, reports Business Line. Source: Moneycontrol Top Headlines | 8 Feb 2008 | 8:32 am
Ranbaxy Laboratories Ltd has received US Food and Drug Administration approval to make and sell the generic version of GlaxoSmithKlines antiinfective Ceftin, which will be the first generic formulation in the market, reports Business Line. Source: Moneycontrol Top Headlines | 8 Feb 2008 | 8:30 am
India's wholesale price index surged to 4.11 percent in the week ending Jan 26 as against 3.93 percent in the preceding week on the back of hike in prices of food articles and manufactured items, data released Friday showed. Source: IndiaeNews.com: Business News | 8 Feb 2008 | 8:30 am
NEW DELHI (Reuters) - India's domestic car sales growth slowed sharply in January from a year ago, clocking up annual expansion of 9 percent, and analysts said only new models and cheaper loans were likely to fuel a pick up in demand.
The annual inflation rate was 6.69 per cent during the corresponding week of the previous year, an official statement said here on Friday. Source: Daily News & Analysis: Money News | 8 Feb 2008 | 7:28 am
The Sensex losing over 60 points to end at 17,464.89, its third lowest closing level in 2008, on reports of inflation rate rising to above 4 per cent. Source: Daily News & Analysis: Money News | 8 Feb 2008 | 7:22 am
Air India launched its nonstop flight between Delhi and New York on Friday, the first by any Indian air carrier. Source: Daily News & Analysis: Money News | 8 Feb 2008 | 7:18 am
The Indian Government is introducing a new rule from March 1 stipulating that unskilled workers planning to take up jobs in Bahrain be paid a minimum wage of 100 Dinars (265 dollars) a month. Source: Daily News & Analysis: Money News | 8 Feb 2008 | 6:59 am
: Car sales for the month of January 2008increased to 13,899 units even as motorcycle sales continued to see reverses, clocking 481,267 units . Source: Daily News & Analysis: Money News | 8 Feb 2008 | 6:57 am
After shaping a dramatic financial turnaround of Indian Railways, Lalu Prasad says the emphasis of his fifth straight budget would be to reach out to areas still untouched while sparing passengers from fare hikes. Source: IndiaeNews.com: Business News | 8 Feb 2008 | 6:01 am
The Indian equities market opened on a firm note Friday, piggybacking on the gains on the Wall Street overnight. In the initial trade select IT and metal stocks led the rally. Source: IndiaeNews.com: Business News | 8 Feb 2008 | 6:00 am
LUCKNOW (Reuters) - The head of India's most populous state, the so-called "queen of the untouchables", is tentatively extending lower-caste quotas into the private sector, a move that may have major political and economic repercussions.
If you thought the 1,000-point rise of the Bombay Stock Exchange Sensex between last Friday and Monday was a sign of better things to come, then you must be disappointed. Source: Daily News & Analysis: Money News | 8 Feb 2008 | 5:08 am
Stock exchanges and electricity distribution companies might argue that they are not covered by the Right to Information (RTI) Act but in the final analysis they must be answerable to the public, says India's Chief Information Commissioner Wajahat Habibullah. Source: IndiaeNews.com: Business News | 8 Feb 2008 | 5:01 am
Zee Entertainment Enterprises Ltd (ZEEL), one of the country's leading entertainment groups, is all set to try its luck in the already crowded Tamil satellite channel market for a second time. Source: IndiaeNews.com: Business News | 8 Feb 2008 | 5:00 am
MUMBAI (Reuters) - Billionaire investor George Soros has bought 3 percent of Reliance Entertainment for $100 million, a spokesman for the company said, the latest sign of increasing investor interest in Indian entertainment firms.
Ever thought you might have to pay tax on income you are yet to receive? You are, and in your favourite instrument - the good old bank fixed deposit - at that. Source: Daily News & Analysis: Money News | 8 Feb 2008 | 12:16 am
Mumbai, Feb. 7 Is the premium paid on the new unit-linked health insurance policies fully exempt from income tax? LIC, the first one to launch the scheme last week, claims that the entire premium to the scheme is eligible for tax ... Source: Business Line - Home Page | 8 Feb 2008 | 12:00 am
Reliance Entertainment made an entry into the FM radio business through Adlabs Radio, having won 45 stations in the recent bidding. Source: Daily News & Analysis: Money News | 7 Feb 2008 | 11:24 pm
"When will the markets bottom out and at what levels?" The (long) trader will give his right arm to get a definitive answer to that. Source: Daily News & Analysis: Money News | 7 Feb 2008 | 11:21 pm
The blame for Thursday's stockmarket plunge, say sources, must lie with bulk-selling of Nifty futures in the afternoon. Source: Daily News & Analysis: Money News | 7 Feb 2008 | 11:20 pm
Waning investor confidence on the back of falling stockmarkets has claimed a victim in Wockhardt Hospitals, which announced that it would withdraw its initial public offer (IPO), the first company to Source: Business Standard | Front Page Headlines | 7 Feb 2008 | 6:44 pm
