ML Pachisia of Orient Paper and Industries said the company had increased its capacity from 2.4 million tonne to 3.4 million tonne. Orient Paper\'s dispatch has also increased by 20%. The company plans to increase its capacity to 5 million tonne, added Pachisia. He expects capacity to increase to 5 million tonne by the end of the year. Source: Moneycontrol Top Headlines | 17 Jun 2008 | 4:52 pm
The bone of contention is the alleged right of first refusal, which MDAG claims is part of the agreement signed between the brothers. But ADAG says the RoFR claim is false and legally untenable. Now curiously the information memorandum submitted to the stock exchanges by RComm at the time of listing clearly states that an RoFR exists. Source: Moneycontrol Top Headlines | 17 Jun 2008 | 4:08 pm
It\'s MA season and there are reports that GHCL or Gujarat Heavy Chemicals Ltd promoters may be looking at selling 15% stake to a Dubaibased conglomerate, Al Rostamani group. Reports suggest the stake will be acquired from promoters after which a mandatory open offer will be triggered. Source: Moneycontrol Top Headlines | 17 Jun 2008 | 3:26 pm
A lot has happened and is likely to happen in the iron ore space in particular. Rahul Baldota, President of FIMI, \"The point is that the imposition of the duty on iron ore is unfounded because iron ore is a surplus commodity. We are exporting iron ore fine, which is not used by the domestic steel industry.\" Source: Moneycontrol Top Headlines | 17 Jun 2008 | 3:20 pm
CNBCTV18 has learnt from sources that MPM Capital and OrbiMed are in race to buy strategic stake in Piramal Life Sciences. Other big PE players and pharma MNCs are also eyeing stake in Piramal Life. Piramal Life is the listed RD division of Piramal Healthcare. MPM and OrbiMed are two of the largest healthcare funds globally. Source: Moneycontrol Top Headlines | 17 Jun 2008 | 2:54 pm
There has been some confusion and uncertainty about the Software Technology Park of India (STPI) extension and how much of the SEZ profits could be eligible for taxfree status. Source: Moneycontrol Top Headlines | 17 Jun 2008 | 1:10 pm
Dhanus Tech may dilute 3035% in its Turkish arm, Borusan Telekom, reports CNBCTV18, quoting sources. The company is likely to raise USD2530 million via a Borusan stake sale. It may finalise the Borusan stake sale within a month, sources added. Source: Moneycontrol Top Headlines | 17 Jun 2008 | 12:46 pm
India`s real GDP is expected to grow
at an impressive 9.5 percent in FY `09, the Centre for
Monitoring Indian Economy (CMIE) said in its monthly review here. Source: Zee News : Business | 17 Jun 2008 | 12:30 pm
Weak investors sentiment in
stock markets, easier external commercial borrowing norms and
economic slowdown will continue to keep the IPO under
pressure in 2008, latest study by industry body Assocham said. Source: Zee News : Business | 17 Jun 2008 | 12:30 pm
Saudi Arabia, the world`s leading oil
producer, is planning to invest USD 80 billion to increase its
oil output to 12.5 million barrels per day (bpd) and expand
its refining capacity by 43 percent to six million bpd within
the next few years. Source: Zee News : Business | 17 Jun 2008 | 12:30 pm
Oil prices fell on Tuesday from an all-time high overnight close to USD 140 amid uncertainty over a reported pledge by Saudi Arabia to hike output, dealers said. Source: Zee News : Business | 17 Jun 2008 | 12:30 pm
A Saudi Arabian company is keen on
expanding its operations in India, considering the
availability potential sectors and projects for growth in the
country. Source: Zee News : Business | 17 Jun 2008 | 12:30 pm
Hitting back at the Centre on the issue of tax cuts on petro products, states on Monday questioned as to why the burgeoning forex reserves are not being used to foot the oil import bill, instead of burdening states by asking them to cut taxes. Source: Zee News : Business | 17 Jun 2008 | 12:30 pm
Finnish telecom giant Nokia has launched two new email-capable handsets for business users and vowed to defend its position as the world`s leading mobile phone maker. Source: Zee News : Business | 17 Jun 2008 | 12:30 pm
Reserve Bank`s recent decision
to increase short term lending rate will hit ICICI Bank, Yes
Bank and Oriental Bank of Commerce the most as they are
heavily dependent on money market for their funding needs,
says a study. Source: Zee News : Business | 17 Jun 2008 | 12:30 pm
American and Chinese firms have signed deals worth USD 13.6 billion ahead of a high level meeting that could formally endorse talks for a bilateral investment treaty, officials said. Source: Zee News : Business | 17 Jun 2008 | 12:30 pm
The Bombay Stock Exchange benchmark
Sensex on Tuesday dipped 38 points in early trade on profit-booking
by funds as well as retail investors. Source: Zee News : Business | 17 Jun 2008 | 12:30 pm
NEW DELHI (Reuters) - India's headline inflation rate is likely to hover at 8 to 9 percent for some time and will hit double digits before declining in the last quarter of calendar 2008, its chief statistician said on Tuesday.
MUMBAI (Reuters) - Energy group Reliance Industries Ltd is in talks with Jet Airways Ltd to buy a 6-7 percent stake in the private airline, the Mint daily said, citing a source familiar with the development.
ISFAHAN, Iran (Reuters) - The oil market is plentifully supplied and the rally to record high prices is "fake and imposed", Iran's president said on Tuesday, blaming a weak U.S. dollar which he said was being pushed down on purpose.
LONDON (Reuters) - British bank Barclays could raise up to 7 billion pounds ($13.8 billion) from a fundraising structure outlined this week to repair its stretched balance sheet.
Textiles major S. Kumars Nationwide Ltd is planning to enter the international market and will set up a holding arm in Netherlands, SKNL International, for acquisitions in Europe and North America. Source: IndiaeNews.com: Business News | 17 Jun 2008 | 11:33 am
NEW DELHI (Reuters) - Petronet LNG has cut gas supplies from its LNG terminal in Gujarat by nearly 23 percent, or 5 million standard cubic metres a day, due to a technical snag, an industry source said on Tuesday.
Around 5,000 protestors blocked the Mumbai-Goa highway for nearly three hours Tuesday, opposing the upcoming Maha Mumbai Special Economic Zone (MMSEZ) promoted by Reliance Industries Ltd. Source: IndiaeNews.com: Business News | 17 Jun 2008 | 11:31 am
For the second consecutive day Tuesday, the Indian equity markets closed on a high, thanks to solid buyer interest in banking and realty stocks. Source: IndiaeNews.com: Business News | 17 Jun 2008 | 11:30 am
Leading Indian commercial vehicles manufacturer Ashok Leyland Ltd has made a strategic investment of an undisclosed sum in the German firm Albonair. Source: IndiaeNews.com: Business News | 17 Jun 2008 | 11:30 am
Yahoo! the leader in mobile advertising and mobile Internet services, announced partnerships with two Indian mobile operators MTNL and Idea Cellular Source: Daily News & Analysis: Money News | 17 Jun 2008 | 11:10 am
GS Mangat of National Fertilizers said gas availability will help produce fertilisers at a reasonable price. He expects a government policy shortly to revive sick units and setting up new units. Source: Moneycontrol Top Headlines | 17 Jun 2008 | 11:09 am
MUMBAI (Reuters) - Indian shares rose nearly 2 percent on Tuesday, led by gains in banking and financial stocks, but Reliance Communications extended losses on worries a family feud could delay a multi-billion dollar deal.
LONDON (Reuters) - Oil fell $2 on Tuesday after touching a record near $140 the previous day, with the market looking ahead to a meeting of oil producers and consumers in Jeddah at the weekend.
IBM on Tuesday signed Supertron Electronics Limited as a national distributor for the server range of products. Source: Daily News & Analysis: Money News | 17 Jun 2008 | 10:38 am
The Indian Knowledge Process Outsourcing (KPO) industry is expected to be worth $10 billion by 2012, according to a report released Tuesday by the Associated Chambers of Commerce and Industry of India (Assocham). Source: IndiaeNews.com: Business News | 17 Jun 2008 | 10:00 am
NEW DELHI (Reuters) - India has no plans to relax a ban on rice exports for now, but could consider it after assessing the harvest by October-November, Trade Secretary G.K. Pillai said on Tuesday.
'India should sign the nuclear deal (with the US) sooner rather than later,' Russia's ambassador to New Delhi Vyacheslav I. Trubnikov said here Tuesday. Source: IndiaeNews.com: Business News | 17 Jun 2008 | 9:31 am
NEW DELHI (Reuters) - The government wants to implement Bharat Stage-III emission rules for cars across the country from April 2010, while rules in 11 major cities will be even tougher, Transport Minister T.R. Baalu said on Tuesday.
India\'s third largest private steel maker JSW Steel has formed a joint venture to set up a long product facility in Georgia with a capacity of 175,000 tonne a year. Source: Moneycontrol Top Headlines | 17 Jun 2008 | 8:52 am
Anil Ambani, whose flagship company Reliance Communications is in talks with South Africa-based MTN, is looking to buy more than 40 per cent stake in the telecom major. Source: Daily News & Analysis: Money News | 17 Jun 2008 | 8:50 am
The Telecom Regulatory Authority of India (TRAI) may decide against allowing telecom players to share spectrum. This may come as a blow to companies which want to foray into the Indian mobile sector as mobile virtual network operator (MVNO). Source: Moneycontrol Top Headlines | 17 Jun 2008 | 8:36 am
In a rare occurrence, the Saffronart summer auction, to be held online Wednesday and Thursday, will bring together 140 works of 67 modern and contemporary artists. Source: IndiaeNews.com: Business News | 17 Jun 2008 | 8:30 am
The Indian equity markets were trading in positive zone early Tuesday afternoon on the back of buying in banking, realty and capital goods stocks. Source: IndiaeNews.com: Business News | 17 Jun 2008 | 8:00 am
The Bombay Stock Exchange benchmark Sensex dipped 38 points in early trade on profit-booking by funds as well as retail investors. Source: Daily News & Analysis: Money News | 17 Jun 2008 | 7:59 am
Leading global investment banking firm Goldman Sachs (GS) has acquired a minority stake in Sterling and Wilson Pvt. Ltd (S and amp;W), a part of the Mumbai-based construction major Shapoorji Pallonji Group, for $50 million. Source: IndiaeNews.com: Business News | 17 Jun 2008 | 7:01 am
The New York Times has compared Mukesh to Mahatma Gandhi for being "a revolutionary thinker with bold ideas for what India ought to become". Source: Daily News & Analysis: Money News | 17 Jun 2008 | 6:17 am
Mumbai, June 16 Anil Ambani-led Reliance Communications said it was continuing its exclusive talks with South African telecom major MTN, unperturbed by what it described as efforts of the estranged brother Mukesh Ambani’s Reliance ... Source: Business Line - Home Page | 17 Jun 2008 | 12:00 am
Chennai, June 16 Terrified of commuting to work during the monsoons? Or are you dying for a TV at your work-place when a cricket match is on? Cognizant Technology Solutions could be your dream employer. The company has put in place a ... Source: Business Line - Home Page | 17 Jun 2008 | 12:00 am
Thiruvananthapuram, June 16 Sunday’s ‘low’ over the North Bay of Bengal intensified into a depression to the southeast of Kolkata driving up the monsoon activity over east India, the northeast and the Indo-Gangetic plains on ... Source: Business Line - Home Page | 17 Jun 2008 | 12:00 am
We recommend a buy in Gujarat State Fertilizers & Chemicals from a short-term perspective. It is clearly visible from the charts of Gujarat State Fertilizers & Chemicals that it had been on an intermediate-term downtrend from its January ... Source: Business Line - Home Page | 17 Jun 2008 | 12:00 am
Housing Development and Infrastructure Ltd (HDIL), the country's third-largest realtor, is eyeing the power sector as part of its diversification strategy. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 10:25 pm
Dishman Pharmaceuticals and Chemicals, API intermediates and quaternary compounds, is readying for its first international foray. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 10:24 pm
NIIT Technologies, a provider of IT consultancy services, is taking a non-linear approach to detach its revenues from its people strength. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 10:23 pm
Online filing of income tax appears to have caught on since the shift from Saral to the Indian Income Tax Return (ITR) forms happened a couple of years ago. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 10:22 pm
Stocks newly included in the Sensex and other key indices saw a spurt in interest as speculators accumulated them ahead of funds. Source: Daily News & Analysis: Money News | 16 Jun 2008 | 10:06 pm
Sterlite Industries, the flagship firm of London-listed Vedanta Resources, may consider legal action if the bankruptcy court favours Grupo Mexico's counter-offer of $4.1 billion for Asarco, the US copper mining giant. Source: Business Standard | Front Page Headlines | 16 Jun 2008 | 6:44 pm
The bauxite-rich Gandhamardan hill in Orissa is likely to become the centre of an environmental and cultural controversy again after two decades. Source: Business Standard | Front Page Headlines | 16 Jun 2008 | 6:43 pm
Japanese drug-maker Daiichi-Sankyo, which entered into a binding deal with the Ranbaxy Laboratories promoters to buy the latter's 34.8 per cent stake at Rs 737 a share, today said it may revise the open offer price in the case of a competitive bid. Source: Business Standard | Front Page Headlines | 16 Jun 2008 | 6:42 pm
Maruti Suzuki India, the country's largest carmaker, may after all do what everyone expects it to: take on Ratan Tata's Nano with its own low-price car. Source: Business Standard | Front Page Headlines | 16 Jun 2008 | 6:41 pm
