Jet Airways and Air Sahara are back in a tax tangle. Jet said the Rs 100 crore liability that the Deputy General of Excise Duty had slapped on it is with the previous owners, Air Sahara. Sahara, in turn, has said that the sellers are not liable to pay service tax. Source: Moneycontrol Top Headlines | 19 Jun 2008 | 5:40 pm
India\'s largest multi commodity exchange MCX, is all set to launch aviation turbine fuel futures or ATF futures in the next two weeks. But airlines are not relieved since the product may have a come a little too late. Source: Moneycontrol Top Headlines | 19 Jun 2008 | 4:35 pm
The one company that seems to be beating the trend at least in this month is Nagarjuna Construction. Looking ahead YD Murthy of Nagarjuna Constructions feels that the steep increase in the steel prices in the recent past in January 2008, prices of bitumen and diesel going up are all important concern for all the construction companies. Source: Moneycontrol Top Headlines | 19 Jun 2008 | 3:50 pm
There are market rumours that Temptation Foods has already garnered around 15% in Kohinoor Foods via group companies, reports CNBCTV18. Temptation Foods plans to buy 3.79% stake at Rs 86.02 per share. The management of Temptation Foods said it is looking to acquire a listed company, which has a presence in the readytoeat business. Source: Moneycontrol Top Headlines | 19 Jun 2008 | 1:48 pm
BOC Group has increased its open offer price to Rs 200 from Rs 165. The open offer will be between June 1130. The company will make a preference placement of 3.63 crore shares in January. Source: Moneycontrol Top Headlines | 19 Jun 2008 | 1:48 pm
HM Bangur, MD of Shree Cement said there would be a squeeze in Q1 margins. Q1 results will be lower though the realisations may be a little bit higher. Costs have gone up in proportion to inflation and a little more because energy prices have gone up. But the prices of cement have gone up by only 34%. So, there is definitely a margin squeeze.\" Source: Moneycontrol Top Headlines | 19 Jun 2008 | 12:58 pm
DHAKA (Reuters) - Bangladesh business leaders have given a cautious welcome to India's decision to cut duty on imports from its neighbour and other least developed countries (LDCs) under its newly announced duty-free preference scheme.
MUMBAI (Reuters) - Investors are shying away from Indian equity funds as a sustained slump in the stock market wipes out a major chunk of their stunning gains in 2007, but the industry is not yet facing pressure from redemptions.
The Indian economy is on course to achieving a 10 percent growth rate "over a sustained period", India's most powerful private sector banker said. Source: Daily News & Analysis: Money News | 19 Jun 2008 | 12:16 pm
LONDON (Reuters) - Oil slipped on Thursday below $136 a barrel on profit-taking ahead of Sunday's emergency meeting between producers and consumers in Saudi Arabia.
MUMBAI (Reuters) - Offshore oil services provider Jindal Drilling & Industries Ltd said on Thursday its board will meet on June 30 to consider a stock split.
Surging air turbine fuel prices and mounting losses may compel Air India to reduce the frequency some of its international flights including its recently-introduced New York flights. Source: Daily News & Analysis: Money News | 19 Jun 2008 | 12:04 pm
MUMBAI (Reuters) - Life Insurance Corp (LIC) aims to buy up to 1.15 trillion rupees ($27 billion) of bonds in the fiscal year to March 2009, its managing director said, nearly as much as the government's annual borrowing.
Hotel Leelaventure Ltd announced a consolidated profit after tax (PAT) of Rs.1.49 billion ($34.74 million) 2007-08, compared to Rs.1.26 billion ($29.37 million) the previous year. Source: Daily News & Analysis: Money News | 19 Jun 2008 | 11:55 am
The Rs.9.69-billion Tamil Nadu Newsprint and Papers Ltd (TNPL) says it will place an order for a new paper line at its Pugalur plant in Tamil Nadu next month. Source: IndiaeNews.com: Business News | 19 Jun 2008 | 11:33 am
Footwear major Bata India Ltd sold its Hawaii brand of slippers to a Brazilian company, Alpragatas, for Rs.39 million last year, company chairman P.M. Sinha announced Thursday at its 75th annual general meeting here. Source: IndiaeNews.com: Business News | 19 Jun 2008 | 11:31 am
India's wheat production has touched a record high of 78 million tonnes for 2007-08 against the third advanced estimate of 76.78 million tonnes. Source: IndiaeNews.com: Business News | 19 Jun 2008 | 11:30 am
Hotel Leelaventure Ltd Thursday announced a consolidated profit after tax (PAT) of Rs.1.49 billion ($34.74 million) 2007-08, compared to Rs.1.26 billion ($29.37 million) the previous year. Source: IndiaeNews.com: Business News | 19 Jun 2008 | 11:30 am
MUMBAI (Reuters) - Indian shares fell 2.2 percent on Thursday to their lowest close in a week, spooked by inflation worries and high oil prices, while drugmaker Ranbaxy tumbled after a patent settlement with Pfizer was seen as delaying launch of a generic drug.
The US automobile giant Ford Motor Co proposes to launch its small car for the Indian market by 2010 and will set up a new unit soon to manufacture engines, top officials said. Source: Daily News & Analysis: Money News | 19 Jun 2008 | 11:24 am
Footwear major Bata India Ltd will open 240 new outlets across the country over a period of three years, that could entail an investment of up to Rs 480 crore. Source: Daily News & Analysis: Money News | 19 Jun 2008 | 10:56 am
Cellphone and laptop retail chain RPG Cellucom, a part of the RPG Retail, on Thursday said it aims togenerate a Rs 500 crore revenue in the current fiscal. Source: Daily News & Analysis: Money News | 19 Jun 2008 | 10:52 am
The US automobile giant Ford Motor Co proposes to launch its small car for the Indian market by 2010 and will set up a new unit soon to manufacture engines, top officials said Thursday. Source: IndiaeNews.com: Business News | 19 Jun 2008 | 10:32 am
There is tremendous scope for business cooperation between Syria and India, and Damascus hopes to attract Indian investment in many sectors, according to a Syrian business leader. Source: IndiaeNews.com: Business News | 19 Jun 2008 | 10:01 am
India's wheat production has touched a record 78 million tons in 2007-08 season, which will keep the prices stable in the domestic market. Source: Daily News & Analysis: Money News | 19 Jun 2008 | 9:54 am
Ranbaxy has reached a settlement with Pfizer on Lipitor litigation. CNBCTV18 has asked research analysts of brokerage firms in a poll that what is upside post Lipitor deal to Ranbaxy Labs. Nearly 67% analysts say the stock may go upto Rs 630650. Source: Moneycontrol Top Headlines | 19 Jun 2008 | 9:46 am
India's Jet Airways is considered among the top carrier brands, according to a consumer survey, but the real winner is a single-plane airline of the UK. Source: Daily News & Analysis: Money News | 19 Jun 2008 | 9:33 am
India is likely to register the largest growth in attracting foreign investment worldwide, and is poised to become the global leader for investment in manufacturing, according to a report by international consultancy KPMG released Thursday. Source: IndiaeNews.com: Business News | 19 Jun 2008 | 9:32 am
MUMBAI (Reuters) - Gold demand in India, the world's biggest consumer, is expected to improve in the coming months after more than halving so far this year but will remain below last year's level because of high prices, trade officials said.
The timing of two deals between RanbaxyDaiichi and RabbaxyPfizer maybe innocent on the face of it, but does it walk a fine line with the insider trading regulations of SEBI? Expert legal personnel are of the view that there is no real spout committed by Daiichi that they are buying the shares at the same price bought from public shareholders. Source: Moneycontrol Top Headlines | 19 Jun 2008 | 9:19 am
MUMBAI (Reuters) - India's gold prices were slightly changed on Thursday as a weak dollar supported the metal overseas while easing crude oil cast a bearish pressure, and local traders were in no hurry to buy in the lean season, dealers said.
The Reserve Bank has been asking Sahara to stop taking deposits since March 2007 and adopt other financial models. This is according to the petition filed by RBI in the Supreme Court, a copy of which is available with CNBCTV18. Source: Moneycontrol Top Headlines | 19 Jun 2008 | 8:59 am
The Gorkha Janamukti Morcha (GJM), agitating for a separate Gorkhaland state, Thursday said it was prepared to hold talks with the West Bengal government in the presence of the centre at Delhi and not in Kolkata. Source: IndiaeNews.com: Business News | 19 Jun 2008 | 8:32 am
Battery manufacturers have begun working on products tailor-made for India's nascent electric scooter segment. Source: IndiaeNews.com: Business News | 19 Jun 2008 | 8:31 am
Jaguar-Land Rover (JLR) has announced a major drive to recruit 600 engineers and technical staff to work on its 700-million-pounds projects. Source: Daily News & Analysis: Money News | 19 Jun 2008 | 8:22 am
MUMBAI (Reuters) - The outlook for inflation in India is uncertain in the June and September quarters, but there should be a clear downtrend in the December quarter, the chief economic adviser of the finance ministry said on Thursday.
NEW DELHI (Reuters) - Shares in Indian drugmaker Ranbaxy Laboratories Ltd fell nearly 7 percent on Thursday morning, after a patent dispute settlement with Pfizer Inc was seen as offering no near-term benefit.
The Bombay Stock Exchange benchmark Sensex moved down by 228 points in early trade on Thursday. Source: Daily News & Analysis: Money News | 19 Jun 2008 | 5:59 am
New Delhi, June 18 Aided by higher tax deduction at source (TDS) collections arising from better tax administration and widening tax payer base, the Centre’s net direct tax collections recorded a 71.28 per cent increase during the first ... Source: Business Line - Home Page | 19 Jun 2008 | 12:00 am
Bangalore/New Delhi, June 18 With aviation turbine fuel (ATF) prices hitting an all-time high, the domestic airlines industry is looking at various options to insulate their bottomline including leasing newer aircraft which are more fuel ... Source: Business Line - Home Page | 19 Jun 2008 | 12:00 am
In the last trading session, the stock tumbled and formed a bearish engulfing candlestick pattern that indicates bearishness. Sell the stock in rallies with stop loss at Rs 798. Infosys Following a cautious ... Source: Business Line - Home Page | 19 Jun 2008 | 12:00 am
Thiruvananthapuram, June 18 True to character, Tuesday’s monsoon depression over land retained strength until noon on Wednesday as it ground away flywheel-like on the flooded tracks igniting a lot of weather and causing the heavy rain ... Source: Business Line - Home Page | 19 Jun 2008 | 12:00 am
Mumbai, June 18 Domestic airlines are now exploring various options to cut down on their cost of fuel, which accounts for 40-50 per cent of their overall operating costs. In what could be seen as a counter answer to the near monopoly of ... Source: Business Line - Home Page | 19 Jun 2008 | 12:00 am
Reliance Communications (RCom) may initiate criminal proceedings against Reliance Industries (RIL) officials involved in the signing of January 12, 2006 agreement, if RIL continues to assert its ‘right of first refusal’ (to buy a ... Source: Business Line - Home Page | 19 Jun 2008 | 12:00 am
Bringing the curtain down on the pharmaceutical world's most talked-about patent challenge, Ranbaxy Laboratories and Pfizer today announced an out-of-court settlement of their row over Lipitor, the world's largest-selling drug (2007 sales: $12.7 billion), in 12 countries including the US, which accounts for over half the global pharmaceutical sales. Source: Business Standard | Front Page Headlines | 18 Jun 2008 | 6:47 pm
Telecom equipment maker Ericsson said on Wednesday mobile broadband Internet subscribers could rise to 2.2 billion in five years` time from 250 million, fuelled by exponential growth in emerging markets. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
Office goods supplier Staples has won approval from the European Commission for its 1.7 billion euro (USD 2.64 billion) takeover bid for Dutch peer Corporate Express. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
Tata Communications net profit dipped to USD 2.5 million (Rs 100 million) during the fiscal 2008 compared to USD 3.75 million (Rs 150 million) for the previous year. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
Indian energy group Reliance plans to explore for oil in Peru and will evaluate investing in a new petrochemicals complex in the Andean country, officials said late Tuesday. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
Internet service leader Google Inc believes its recent advertising deal with Yahoo Inc will be beneficial as Yahoo tries to become more profitable, a key Google executive said on Wednesday. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
Movie studio DreamWorks SKG is close to a deal with Reliance ADA Group to form a new movie venture, the Wall Street Journal reported on Tuesday, citing people familiar with the talks. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
The United States pressed China on Tuesday to advance market-opening measures but faced criticism over its weakening dollar as the two nations opened talks to address economic issues. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
The country`s second biggest truck maker, Ashok Leyland, is looking at de-risking its business model in the face of "many uncertainties in global
scenario." Source: Zee News : Business | 18 Jun 2008 | 11:43 am
Continuing its upward march for the third straight session on Wednesday, the Bombay Stock Exchange benchmark Sensex rose by 93 points in early trade on the back of buying in heavy-weight stocks by funds and retail investors. Source: Zee News : Business | 18 Jun 2008 | 11:43 am
