Ravi Jhunjhunwala, Chairman, HEG said their operating margins are close to 3031%. He told CNBCTV18 that the company will not face any impact of inflation or slowdown on their growth this year. Source: Moneycontrol Top Headlines | 6 Jun 2008 | 3:30 pm
R Shridhar, MD, Shriram Transport Finance said the company continues to remain bullish on the disbursements in the current year also and they should grow comfortably between 2530% and it could be even more if there are no liquidity concerns. Source: Moneycontrol Top Headlines | 6 Jun 2008 | 3:07 pm
Looking at SpiceJet right now, if one were to look at consolidation within the Indian skies, then for whom will it be a better fit? It would be with JetLite because they both pretty much fly the same kind of fleet. Source: Moneycontrol Top Headlines | 6 Jun 2008 | 2:23 pm
A fire broke out in one unit of Reliance Industries\' Nagothane complex, say sources from Reliance Industries Ltd. It has been brought under control now, reports CNBCTV18. The fire broke out in one unit undergoing scheduled maintenance. They have confirmed four casualties and the injured are being treated at the complex\' hospital. Source: Moneycontrol Top Headlines | 6 Jun 2008 | 2:21 pm
The Reserve Bank of India, or RBI, has filed an appeal in the Supreme Court challenging the Lucknow Bench order on Sahara India Finance. The apex court has fixed June 9 as the date for hearing. Source: Moneycontrol Top Headlines | 6 Jun 2008 | 2:16 pm
The IPO of Indiabulls Investment Trust closes today, reports CNBCTV18. According to sources, the minimum retail subscription has been completed. It is likely to list on the SGX on June 11. Source: Moneycontrol Top Headlines | 6 Jun 2008 | 1:37 pm
Telekom Malaysia will gain the management control of Spice Communications, reports CNBCTV18, quoting sources. The Spice promoters the Modis may exit or retain a marginal stake, sources add. Idea will pick up a stake in Spice and eventually merge Spice with Idea, they say. Source: Moneycontrol Top Headlines | 6 Jun 2008 | 11:24 am
NEW DELHI (Reuters) - Indian shares fell 1.3 percent on Friday as jitters about inflation and higher interest rates sent investors scrambling to cut positions after the market rose more than 1 percent early.
In the last few days, the Punj Lloyd stock has seen a lot of turbulence. Atul Punj, Chairman, Punj Lloyd said, \"The total group order backlog is Rs 20000 crore. So it\'s not Rs 700 crore. The contribution of legacy orders that we inherited through our acquisitions would be in the region of Rs 700 crore.\" Source: Moneycontrol Top Headlines | 6 Jun 2008 | 11:11 am
Mani Shankar Aiyer has become the first minister to be affected by the government's austerity measures, announced by Prime Minister Manmohan Singh. Aiyer, who was scheduled to go on a 13-day trip to the US and Norway, was asked at the last moment to cancel his visit. Source: IndiaeNews.com: Business News | 6 Jun 2008 | 11:01 am
Tamil Nadu Industrial Development Corp Ltd (Tidco) is planning to develop the Cuddalore-Nagapattinam belt as a petroleum, chemical and petrochemical investment region at an investment of Rs.60 billion ($1.4 billion), said a top official. Source: IndiaeNews.com: Business News | 6 Jun 2008 | 11:00 am
LONDON (Reuters) - Oil rose by more than $2 a barrel to above $130 on Friday, bringing gains in the last two days to $8 as the U.S. dollar weakened on signals the European Central Bank may raise interest rates this year.
Giving relief to the people suffering from back-to-back shutdowns in West Bengal, Trinamool Congress chief Mamata Banerjee Friday asked her party workers not to disrupt long-distance trains and allow shops to open after 4.30 p.m., one and a half hours before the scheduled end of her party's protest against fuel price hikes. Source: IndiaeNews.com: Business News | 6 Jun 2008 | 10:30 am
Hundreds of workers and leaders of Left parties in Orissa were arrested Friday during the 12-hour shutdown of the state to protest the hike in prices of petrol, diesel and cooking gas. Source: IndiaeNews.com: Business News | 6 Jun 2008 | 10:30 am
MUMBAI (Reuters) - India's Aditya Birla Nuvo Ltd said on Friday it has shut its fertiliser plant in north India due to a fire in a gas compressor turbine.
Sun Pharma expresses concern over Taro\'s decision to sell its Irish plant, reports CNBCTV18. \"The Irish plant selloff is an effort to discourage Sun from acquiring Taro. We are vigorously disputing the termination of merger agreement by Taro.\" Source: Moneycontrol Top Headlines | 6 Jun 2008 | 10:20 am
NEW DELHI (Reuters) - Indian inflation rose further above 8 percent in late May, data showed on Friday, and with higher fuel prices seen sending it to a 13-year peak early next month, analysts expect Reserve Bank of India to take action soon to ease price pressures.
With flights to India driving its growth, Nordic carrier Finnair is adding one more flight to India Saturday as it awaits permission from the government to add more destinations, in addition to Mumbai and Delhi. Source: IndiaeNews.com: Business News | 6 Jun 2008 | 10:02 am
The Rs.27 billion DCM Shriram Consolidated Limited (DSCL) is more than doubling its chlor-alkali production capacity at its Bharuch plant in Gujarat with an investment of Rs.3.2 billion. Source: IndiaeNews.com: Business News | 6 Jun 2008 | 10:02 am
Vehicle maker Renault Nissan Automotive India Pvt Ltd (RNAIPL) kicked off construction work for its new passenger vehicle plant in Chennai. Source: Daily News & Analysis: Money News | 6 Jun 2008 | 9:39 am
NEW DELHI (Reuters) - India's Reliance Industries said on Friday only one unit at its Nagothane petrochemicals plant in Maharashtra had been shut by a fire and others were running normally.
The new model, named M800 Duo will have dual fuel option of petrol as well as LPG, the company said in a statement. Source: Daily News & Analysis: Money News | 6 Jun 2008 | 9:38 am
NEW DELHI (Reuters) - Strikes and protests against India's decision to raise fuel prices spread around the country on Friday, paralysing transport in two key states and hitting businesses including software firms in Hyderabad and Kolkata.
Engineering, procurement and construction firm Punj Lloyd has secured Rs 649-crore contract from Indian Oil Corporation for construction works at the oil major's Barauni Refinery in Bihar. Source: Daily News & Analysis: Money News | 6 Jun 2008 | 9:34 am
The state government also removed 4 per cent VAT on domestic LPG, lessening the burden on common man by Rs 13 per cylinder. Source: Daily News & Analysis: Money News | 6 Jun 2008 | 9:34 am
The Bharatiya Janata Party (BJP) and the Janata Dal-United (JD-U) Friday called for a shutdown in Jharkhand June 10 to protest the hike in prices of petrol, diesel and cooking gas. Source: IndiaeNews.com: Business News | 6 Jun 2008 | 9:30 am
The Rs.950 million Gujarat Foils Ltd is being targeted again, the second time since it was founded in 1992. Source: IndiaeNews.com: Business News | 6 Jun 2008 | 9:01 am
A chemical explosion at the Indian Petrochemicals Corp Ltd (IPCL) plant at Nagothane in Maharashtra's Raigad district Friday killed two people and injured 17. Source: IndiaeNews.com: Business News | 6 Jun 2008 | 9:00 am
MUMBAI (Reuters) - India's gold prices hardened on Friday as crude oil bounced back overnight, raising the spectre of inflation and boosting the safe haven appeal of precious metals, dealers said.
A miffed ESPN is encouraging subscribers of Tata Sky to move to cable or even Dish TV to catch its lineup of sports programming. Source: Moneycontrol Top Headlines | 6 Jun 2008 | 8:54 am
Inflation surged to 8.24 per cent for the week ended May 24 from 8.1 per cent in the previous week, despite fall in prices of some essential commodities like fruits, vegetables, spices. Source: Daily News & Analysis: Money News | 6 Jun 2008 | 8:53 am
Rising fuel prices has forced Houston-based carrier Continental Airlines to chop 11 per cent of its domestic flights and 3,000 jobs. Source: Daily News & Analysis: Money News | 6 Jun 2008 | 8:52 am
"States are having limited sources to generate revenue and if taxes on petroleum products are reduced, it will put an adverse impact on the development projects of the state", Kalia said. Source: Daily News & Analysis: Money News | 6 Jun 2008 | 8:52 am
Shares of budget airline Spicejet gained nearly 19 per cent at the bourses on reports that Reliance Anil Dhirubhai Ambani group was in talks to acquire the company. Source: Daily News & Analysis: Money News | 6 Jun 2008 | 8:51 am
The Bombay Stock Exchange benchmark Sensex on Friday rose by about 201 points in early trade on the back of buying by funds and retail investors, triggered by firming global markets. Source: Daily News & Analysis: Money News | 6 Jun 2008 | 8:50 am
Punj Lloyd secures Rs 649-cr order from IOC Economic Times - 2 hours ago 6 Jun, 2008, 1415 hrs IST, PTI NEW DELHI: Engineering, procurement and construction firm Punj Lloyd has secured Rs 649-crore contract from Indian Oil Corporation for construction works at the oil major's Barauni Refinery in Bihar.
The new chief executive of British mobile giant Orange has halted the expansion of its offshore call centre partnerships in India, where it currently employs 1,500 people. Source: Daily News & Analysis: Money News | 6 Jun 2008 | 8:49 am
NEW DELHI (Reuters) - India's Mangalore Refinery and Petrochemicals Ltd has imported its first-ever cargo of Arab Super Light crude oil and aims to buy several cargoes of Oman crude this year as it diversifies its slate, its managing director said.
MUMBAI (Reuters) - There has been some deterioration in India's fiscal deficit but not enough to warrant a downgrade in its ratings now, Fitch Ratings said on Friday, adding some populist spending was to be expected ahead of elections.
NEW DELHI (Reuters) - India's wholesale price index rose 8.24 percent in the 12 months to May 24, above the previous week's annual rise of 8.1 percent, government data showed on Friday.
In the last trading session, the stock bounced up taking support at around Rs 750. Initiate fresh long-position only when the stock exceeds Rs 797 level, with tight stop-loss. Infosys Fresh long-position can be ... Source: Business Line - Home Page | 6 Jun 2008 | 12:00 am
Mumbai, June 5 A minor explosion at the offshore Panna-Mukta oil and gas fields, jointly held by BG India, ONGC and Reliance Industries, on Tuesday has led to a temporary shut down of the fields. The incident also claimed the life of a ... Source: Business Line - Home Page | 6 Jun 2008 | 12:00 am
Thiruvananthapuram, June 5 The US Navy Joint Typhoon Warning Centre (JTWC) has upgraded the potential for formation of an Arabian Sea cyclone as ‘good’ on Friday/Saturday. An India Meteorological Department (IMD) update ... Source: Business Line - Home Page | 6 Jun 2008 | 12:00 am
Kolkata, the first Indian city to get a metro railway network, will set another precedent by having an underwater rail connection. Source: Business Standard | Front Page Headlines | 5 Jun 2008 | 6:56 pm
Brushing aside objections over brand dilution, the government has reportedly begun work on modifying the IIT Act, 1961, to ensure that the eight new engineering institutes it is setting up come under the premier Indian Institute of Technology umbrella. Source: Business Standard | Front Page Headlines | 5 Jun 2008 | 6:54 pm
Maharashtra, Tamil Nadu and Bihar today cut sales tax on auto fuels and Delhi reduced value added tax and added a subsidy on cooking gas cylinders to cushion yesterday's politically unpopular decision to raise auto and kitchen fuel prices steeply to help oil marketing companies tide over a growing subsidy gap. Source: Business Standard | Front Page Headlines | 5 Jun 2008 | 6:53 pm
