The government said that cement companies will cut prices from Rs 37.5 per bag in some states, reports CNBCTV18. The cement price cut will come into effect immediately. The government will consider an abatement on excise duty for the cement industry. Industry Minister Kamal Nath met cement companies on prices today. Source: Moneycontrol Top Headlines | 14 May 2008 | 7:50 pm
These are the days when thinking small is important to grow bigger, that\'s what Japan\'s 3rd largest carmaker Nissan seems to believe. Nissan\'s latest business plan includes fresh offensive in the global small car market. Source: Moneycontrol Top Headlines | 14 May 2008 | 5:19 pm
The battle between the Wadias and Rahejas over prime land in Malad has got more fierce. After filing a suit against C L Raheja, the builders of Mumbai\'s Inorbit Mall and Mindspace in February this year, Nusli Wadia has now taken the G L Raheja family to court for breach of a land agreement concerning 478 acres. Source: Moneycontrol Top Headlines | 14 May 2008 | 4:29 pm
For EDS and HP, MphasiS will be the main stay in their Indian operations and there may be more business coming around to India. MphasiS order book is likely to increase given that the IT services business of EDS and HP put together will be close to $40 bn. Source: Moneycontrol Top Headlines | 14 May 2008 | 4:18 pm
Satyam Computer Systems has lost the appeal against a High Court judgment in the Upaid case. The Indian tech major has moved the UK court to block Upaid Systems\' fraud and forgery claims in a Texas court. It is liable to pay extremely large sums of money if Upaid proceeds to jury trial in the Texas court. Source: Moneycontrol Top Headlines | 14 May 2008 | 4:17 pm
MUMBAI (Reuters) - State Bank of India, the country's top lender, and General Electric Co's GE Money will provide more consumer financial services, the two companies said on Wednesday, to tap rising incomes.
NEW YORK (Reuters) - U.S. stocks rose at the market open on Wednesday after government data showed that consumer prices grew less than expected in April, taking pressure off the Federal Reserve to raise interest rates.
After housing and special economic zones, budget hotels and infrastructure are going to be next focus area of investment for realty firm Uppal group. Source: IndiaeNews.com: Business News | 14 May 2008 | 1:31 pm
The proposed Rs.53.48 billion port at Vizhinjam near here will be built by a consortium, led by Hyderabad-based Lanco Kondapalli Power Private Ltd. Source: IndiaeNews.com: Business News | 14 May 2008 | 1:30 pm
Steel Secretary, RS Pandey, said secondary companies will cut flat product price by Rs 4,000 per tonne, reports CNBCTV18 quoting Newswire 18. Secondary companies will hold reduced prices for three months, he added. Source: Moneycontrol Top Headlines | 14 May 2008 | 1:29 pm
Indian companies including GHCL, Welspun India are eyeing USbased Linens N Things, reports CNBCTV18, quoting sources. \"Talks for Linens N Things are in the early stage. The process may take up to six months.\" Source: Moneycontrol Top Headlines | 14 May 2008 | 1:17 pm
NEW DELHI (Reuters) - India's annual monsoon rains, lifeline of the country's economy, are likely to reach the coast of Kerala on May 29, the weather office said on Wednesday, brightening prospects for farm output.
Holcim has said that it is interested \'inprinciple\' in buying LT readymix concrete company, say NewsWire18 reports. LT has approached the company for the Readymix concrete company stake sale. The acquistion will be via ACC and Ambuja Cements. Source: Moneycontrol Top Headlines | 14 May 2008 | 1:04 pm
Indian equities markets opened in the red Wednesday, witnessed choppy trade but recovered in the second half to close in the green, thanks partly to the depreciating rupee, which was quoted at 42.63 per dollar. Source: IndiaeNews.com: Business News | 14 May 2008 | 1:01 pm
LONDON (Reuters) - Investors continued to pour money into emerging markets private equity between January and April, raising $25 billion and on course to top last year's total despite a downturn in developed markets, a report revealed.
Lloyd Electric Engineering will acquire Luvata Czech SRO. BR Punj, Chairman and Managing Director, Lloyd Electric Engineering said the acquired company has sales of 35 million euros with an EBITDA of 1.5 million euros. He added that revenues should start coming in by Q3 or Q4. Source: Moneycontrol Top Headlines | 14 May 2008 | 1:00 pm
MUMBAI (Reuters) - Baring Private Equity Asia plans to invest up to half of its $1.52 billion fund, targeted at mid-sized growth companies in the Asian region, in India, a top official said on Wednesday.
MUMBAI (Reuters) - The rupee dropped to its lowest in 13 months on Wednesday as record oil prices pushed up dollar demand from refiners, but exporters then cashed in their holdings and helped the Indian unit to pull back.
NEW DELHI (Reuters) - The government is not sacrificing growth to control inflation, as the economy needed to keep growing at 8 percent or more, Montek Singh Ahluwalia, the deputy chairman of India's Planning Commission, said on Wednesday.
Milestone Resorts today announced its plans to invest close to Rs 500 crore in expanding and upgradation of its hotel properties in Gurgaon and Goa. Source: Daily News & Analysis: Money News | 14 May 2008 | 12:02 pm
Accusing Kerala's Industries Minister Elamaram Kareem of corruption in awarding the contact for erecting a titanium sponge plant, legislator P.C. George Wednesday demanded a Central Bureau of Investigation (CBI) probe into it. Source: IndiaeNews.com: Business News | 14 May 2008 | 12:01 pm
MUMBAI (Reuters) - Indian shares climbed 1.35 percent on Wednesday to their highest close in five days, propelled by export-focused software services that rallied as the rupee fell a 13-month low.
The United Arab Emirates' (UAE) national carrier Etihad Airways will start daily operations to Chennai and Kozhikode in India from Aug 1 this year. Source: Daily News & Analysis: Money News | 14 May 2008 | 11:36 am
Punjay National Bank said it plans to keep its lending, deposit rates unchanged for now, reports CNBCTV18. It see FY08 net interest margin at around 3.53.6%. The bank will meet profit target for FY0809, its CMD said. Source: Moneycontrol Top Headlines | 14 May 2008 | 11:29 am
India and France here Wednesday signed a Memorandum of Understanding (MoU) to promote bilateral cooperation in the Railways sector. Source: IndiaeNews.com: Business News | 14 May 2008 | 11:08 am
Punjab National Bank, country's second largest public sector lender, said it is in the process of starting overseas operations in four locations in the immediate future. Source: Daily News & Analysis: Money News | 14 May 2008 | 10:54 am
Close on the heels of the shocking slapping incident involving Harbhajan Singh and S. Sreesanth and those fines imposed on Sourav Ganguly, Shane Warne and Ishant Sharma, the DLF Indian Premier League (IPL) has made news with the midstream sacking of the CEO of Bangalore's Royal Challengers because the team had failed to get into the winning habit. Source: IndiaeNews.com: Business News | 14 May 2008 | 10:18 am
Indian stock markets which opened in the red Wednesday morning, witnessed choppy trade but managed to recover in the second half to close in the green, aided by the depreciating Indian rupee which was quoted at 42.63 per dollar. Source: IndiaeNews.com: Business News | 14 May 2008 | 10:05 am
'A fair and firm regulator' is the how insurance industry officials describe Chellapilla Satyanarayana Rao, chairman, Insurance Regulatory and Development Authority (IRDA) who lay down office Wednesday. Source: IndiaeNews.com: Business News | 14 May 2008 | 9:06 am
In volatile trading, the Bombay Stock Exchange benchmark Sensex today recovered by over 40 points in early trade on emergence of funds buying at existing lower levels. Source: Daily News & Analysis: Money News | 14 May 2008 | 8:33 am
An increasing number of children are suffering from diabetes due to stress since parents pressure them to excel in both academics and extra curricular activities, says a medical expert. Source: IndiaeNews.com: Business News | 14 May 2008 | 8:30 am
The Indian equities markets that opened in the negative zone Wednesday managed to recover susbtantially by early afternoon. But public sector undertakings, oil and gas, power and banking scrips continued to be under selling pressure. Source: IndiaeNews.com: Business News | 14 May 2008 | 8:30 am
NEW DELHI (Reuters) - India's secondary steel makers will cut prices by 4,000 rupees per tonne, the top government official in the steel ministry said on Wednesday, as the authorities stepped up efforts to contain inflation.
World's largest steelmaker ArcelorMittal has appointed Vijay Bhatnagar as the new Chief Executive Officer for its India operations. Source: Daily News & Analysis: Money News | 14 May 2008 | 8:29 am
In an incisive piece in the Business Line on May 12, the former RBI Governor, Mr S. Venkitaramanan, refers to ‘Macroeconomic and Monetary Developments in 2007-8’ (released ahead of the Annual Credit Policy), ... Source: Business Line - Home Page | 14 May 2008 | 12:00 am
Thiruvananthapuram, May 13 The India Meteorological Department (IMD) has announced that a low-pressure area has sprung up over North Andaman Sea in the larger Bay of Bengal basin late on Tuesday evening. An earlier bulletin had said ... Source: Business Line - Home Page | 14 May 2008 | 12:00 am
Fresh short-position can be initiated only if the stock declines below Rs 872, with tight stop loss.Infosys The stock has formed a bearish engulfing candlestick pattern in the last trading session, indicating ... Source: Business Line - Home Page | 14 May 2008 | 12:00 am
We recommend a sell in IndusInd Bank from a short-term perspective. It is evident from the charts that the stock was on a medium-term uptrend between late March 2008 and early May 2008, from its a low of Rs 68 to an high of Rs 105. After ... Source: Business Line - Home Page | 14 May 2008 | 12:00 am
Patni Computer, the Mumbai-based IT services provider, is about to close an over $50 million deal with a top telecom carrier in India to provide a proprietary service delivery framework. Source: Daily News & Analysis: Money News | 13 May 2008 | 10:37 pm
The B K Birla Group has announced that an IT park, hotels, serviced apartments and residential buildings would come up at its Century Textiles & Industries land in Worli. Source: Daily News & Analysis: Money News | 13 May 2008 | 10:36 pm
It's a story of an acquisition deal gone horribly wrong and now both, the acquirer and the target are locked in a bitter court battle. Source: Daily News & Analysis: Money News | 13 May 2008 | 10:35 pm
Angel networks, a concept barely two years old in India, may have proved a point with a couple of exits investors operating through these networks have got over the past year. Source: Daily News & Analysis: Money News | 13 May 2008 | 10:35 pm
Jaiprakash Associates is learnt to have acquired the entire 165 kilometres of land it needs to build an expressway between Greater Noida and Agra. Source: Daily News & Analysis: Money News | 13 May 2008 | 10:34 pm
After spending nearly 11 years in Toyota Kirloskar Motors (TKM), Deputy Managing Director K K Swamy and the company's public face, has resigned with effect from May 12. Source: Business Standard | Front Page Headlines | 13 May 2008 | 7:07 pm
Even as the government struggles to meet its power capacity addition target of about 78,000 Mw in the Eleventh Plan (2007 to 2012), power plants with a capacity of more than 100,000 Mw are under construction outside of this government plan, and most are likely to be commissioned in 2011-12. Source: Business Standard | Front Page Headlines | 13 May 2008 | 7:07 pm
The Securities and Exchange Board of India (Sebi) today kicked off reforms of the public offer process by putting in place an alternative mechanism for the payment of application money for public offers and rights issues. Source: Business Standard | Front Page Headlines | 13 May 2008 | 7:05 pm
