- FII-TO-FII: Pantaloon traded at 3% premium Trades between FIIs generated a volume of Rs 19 crore on the BSE Friday-an decrease of 68.08% from Rs 60 crore clocked on Thursday. As many as six stocks witnessed trades of 2.09 lakh shares on Friday.
- Only old faces in 3G fray Foreign companies, except those already present in India, have stayed away from the auction of third-generation mobile spectrum, or 3G, though two new ones are keen on broadband wireless access (BWA).
- Oil ministry wants market-linked prices The government may link petrol and diesel prices to market prices in 2010-11 and introduce a graded system of subsidy-sharing, with the petroleum ministry taking the view that the Kirit Parikh committee report be made the basis for next years petroleum subsidy mechanism.
- RBI raises repo, reverse repo Surprises market with 25-basis-point rise; banks not to increase rates immediately.
- Oswal Group Global investing $320 mn in 9 ships Oswal Group Global, led by India-origin industrialist Pankaj Oswal, today said its subsidiary Maruti Shipping is investing $320 million in nine ships being built at Yangzhou Guoyu Shipyards in Jiangsu province of China.
- SC notice to CBI on Satyam auditor's bail plea The Supreme Court today sought CBI's response on the bail plea of Price Waterhouse auditor Subramani Gopalkrishnan who was arrested in the Rs 7,136-crore Satyam Computer fraud for allegedly conniving with its founder B Ramalinga Raju but did not grant him interim relief.
- Economy likely to grow by 8.3% in FY11: D&B India is likely to witness an over 8 per cent economic growth in the fiscal 2010-11, driven by good investment and consumption demand, says a report by Dun & Bradstreet (D&B) India, a global business information provider.
- ONGC awaits govt nod for oil exploration in Nagaland Oil and Natural Gas Corporation (ONGC) today said it is waiting for the government's aproval to start oil exploration in Nagaland.
- RBI hikes repo, reverse repo rates by 25 bps The Reserve Bank of India (RBI) today raised key policy rates by 25 basis points (bps) to mark a reversal of its easy monetary policy regime to tame inflation and anchor inflationary expectations.
- India's 2010 monsoon seen normal: farm secy India's 2010 monsoon rains, crucial for farm output, will be normal, federal Farm Secretary Prabeer Kumar Basu said today.
- FIIs net buy Rs 284cr, DIIs net buy Rs 113cr Foreign institutional investors (FIIs) were net buyers of Rs 284.25 crore (provisional) today, according to data released by BSE.
- IFFCO to invest $4 bn in next 3 yrs to expand capacity Fertiliser cooperative major IFFCO and its joint venture partners will invest $4 billion over the next three years to expand the capacity of existing plants in India and set up facilities abroad.
- RBI annual monetary policy on Apr 20 The Reserve Bank today said it will come out with its annual monetary policy for the next fiscal on April 20, amid expectations that the central bank will hike interest rates to tame the rising inflation.
- 'Indian film and TV industry to touch Rs 60k cr by 2015' Driven by growing audience and an expanding market for international movies, the Indian film and television industry is expected to reach a size of over Rs 60,000 crore in the next five years, says a report.
- BoB chief sees interest rates hardening soon Rising inflation might put upward pressure on interest rates in the near future, said public sector lender Bank of Baroda (BoB) Chairman and Managing Director M D Mallya.
- Bharti board to discuss Zain deal tomorrow: source Bharti Airtel's board is meeting on Saturday to discuss the progress of talks to buy Kuwaiti telecom Zain's African assets in a deal worth $9 billion, a source with direct knowledge of the development said.
- China to raise imports; India stands to gain China, the world's largest exporter, today said it will take steps to increase its imports and reduce trade surplus, a move which will help India step up its exports to the neighbouring country.
- Goenka Diamond fixes IPO price-band at Rs 135-145 Goenka Diamond and Jewels plans to raise up to Rs 145 crore through its Initial Public Offer (IPO) and has fixed its price-band at between Rs 135-Rs 145 per share.
- Rs 5,535 cr more for AIIMS-like institutes, medical colleges In order to meet revised cost of construction, the Government today allocated an additional Rs 5,535 crore for six upcoming AIIMS-like institutes and upgradation of 13 existing government medical colleges.
- 8% DA hike for 5 mn govt staff In a good news for about 5 million central government employees, government today raised their dearness allowance (DA) by 8 per cent from the current 27 per cent of the basic salaries.
- Hindustan Dorr-Oliver to raise $50 mn via share sale Engineering firm Hindustan Dorr-Oliver today said it will raise $50 million (about Rs 227 crore) by share sale from international markets.
- Govt clears ONGC & partners' Venezuela investment The government today gave Oil and Natural Gas Corp (ONGC) and partners approval to invest $2.181 billion in a giant oilfield in Venezuela that will give energy deficient India 3.6 million tons a year of crude oil.
- Siemens installs renewable plant in Egypt: report Engineering group Siemens has taken another step towards becoming one of the world's top three wind turbine makers by 2012 by installing a 250-megawatt (Mw) renewable energy plant in Egypt's Gulf of Suez on the Red Sea coast.
- S upgrades India outlook Factoring in the governments push to improve its finances and higher growth, Standard & Poor's today revised the outlook on Indias sovereign credit rating to stable from negative.
- Posco turns to SAIL for India plant Delays in Orissa prompt Korean giant to tie up with state-owned steel-maker in Jharkhand.
- 'Soaring costs are killing Vedanta Alumina' Mukesh Kumar, chief operating officer of Vedanta Alumina (VAL), is a worried man. The companys 1-million tonne refinery in Lanjigarh, which began operations in September 2007, is losing $90 on every tonne of alumina it produces, owing to high input costs.
- Quippo buys TTML's towers, now largest independent firm Quippo Telecom Infrastructure and Wireless TT Info Services (Quippo-WTTIL) has acquired the tower business of Tata Teleservices (Maharashtra) Ltd, a Tata Group company, in a deal valued at Rs 1,318 crore.
- BSNL may open up lines for pvt firms Move could increase Indias broadband penetration over three times.
- Nissan scouts for yet another Indian partner Japanese auto major Nissan Motor today said it was open to tying up with yet another partner in India to develop a car positioned between the fourth-generation Micra, the compact car that will go on sale in May in India, and its proposed ultra low cost (ULC) car being jointly developed with Bajaj Auto.
- RIL loses bid for Canadian firm In a second setback to its global acquisition plans in less than a month, Reliance Industries (RIL), Indias largest company by market capitalisation, has lost out on its $2-billion takeover bid for Calgary-based Value Creation.
- Tribe readies for battle against Vedanta's mine The Dongria Kondh tribe who live in the Niyamgiri Hills of Orissa do not normally go to the top of the bauxite-rich slopes. The hilltop is considered sacred, the place where their presiding deity Niyam Raja (literally, the King of Law), or the Universal Lawgiver, is said to reside, and they leave it undisturbed.
- Poor distribution, not hoarding, pushed up food prices Much has been said about how activities like hoarding have caused rapidly rising food prices, but analysts studies of retail and wholesale inflationary trends suggest that its the governments distribution system rather than speculation by wholesalers that is pushing up food prices.
- Multinationals have to redo the delisting math Multinational companies (MNCs) wishing to delist are finding the going tough, due to a sharp rise in the share prices of their Indian subsidiaries.
- Foreign Education Bill finally gets Cabinet nod After several years of debate, the Union Cabinet today unanimously approved a Bill that would allow foreign education providers to set up campuses in India and offer degrees.
- Advance tax grows 3.63% in Q4, falls below expectation Advance tax collections from the top 100 companies in the Mumbai region for the crucial and last quarter of 2009-10 have grown just 3.63 per cent compared to 24 per cent in the corresponding period last year.
- Posco plans Rs 4,000-crore investment in Maharashtra Korean steel major Pohang Iron and Steel Company (Posco), the worlds fourth largest steel maker, will lay the foundation stone on Monday, March 15 for a Rs 4,000-crore steel processing plant in Maharashtra, underlining long-drawn delays over a greenfield steel manufacturing plant in Orissa.
- JLR to source 30% of parts from low-cost countries Tata Motors has put in place anaggressive cost reduction strategyfor its luxury brands Jaguar Land Rover (JLR), which it acquired from Ford in 2008, involving a substantial increase in sourcing vehicle parts from low-cost countries.
- Stalement in RBI, competition panel talks over bank M&As Banking regulator Reserve Bank of Indias (RBI) attempts to keep anti-competitive practices watchdog Competition Commission of India (CCI) out of the merger and acquisition (M&A) business of banks seems to have hit a roadblock. The ministry of corporate affairs said it is not agreeable exempting the banking industry from the M&A norms that are expected to be put in place by CCI soon.
- M target firms may be asked to guide Shareholders Sebi panel may raise open offer trigger to 25%.
- 2 Russia projects remain in limbo Russian Prime Minister Vladimar Putins latest visit to India will give birth to a slew of Indo-Russian business ventures. But two major joint ventures planned by Russian companies in Indias rich mineral sector remain just on paper, years after the signing of the cooperation agreements.
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