- FII-TO-FII: Grasim Ind traded at 3% premium Trades between FIIs generated a volume of Rs 80 crore on the BSE Thursday-an increase of 30.71% from Rs 62 crore clocked on Wednesday. As many as three stocks witnessed trades of 3.38 lakh shares on Thursday.
- NMDC issue gets over pricing blues After a sedate start yesterday, the follow-on public offer of NMDC saw interest reviving on the second day of book building, with bids for 79 per cent of the shares on offer.
- Govt rejects relaxing foreign donation rules Contributions by Indian firms with over 50% foreign holding to be treated as foreign sources.
- Govt rejects relaxing foreign donation rules Contributions by Indian firms with over 50% foreign holding to be treated as foreign sources.
- Bonus season over, job churn begins at i-banks Stuart Gulliver, head of HSBCs global investment banking business, is planning to give away the 9 million bonus he received this year to charity. Many investment bankers in India, however, are charting moves of a different kind after receiving their bonuses up to 100 per cent in most cases.
- Fortis buys 24% in singapore healthcare giant Malvinder to be Parkway chairman; acquisition will form Asias largest hospital chain.
- Dunlop to offer 10% wage hike to employees Ruia's promoted Dunlop India today agreed to offer a 10 per cent hike in gross wage to 1007 employees of Sahaganj unit from April 1, a top company official said.
- Indian cos making a beeline for LSE listing The number of enquiries from Indian companies keen get listed on the London Stock Exchange (LSE) is on the rise, a senior LSE official said here today.
- Corporate Affairs Min to upgrade website for CSR reports The Corporate Affairs Ministry today said it is upgrading its website for enabling companies to file their Corporate Social Responsibility (CSR) reports online.
- Opus bags $10-mn SBI deal to upgrade ATMs The country's largest lender State Bank of India (SBI) today signed a $10-million (around Rs 46 crore) deal with the city-based Opus Software Solutions to upgrade its ATM network.
- Govt to meet pvt steelmakers to review output target The government will revise the capacity addition target of steel companies by 2012 after a meeting with private sector producers such as Tata Steel, JSW and Essar shortly, Parliament was informed today.
- KKR most discussed team on social sites: Nielsen Without having lifted the Indian Premier League (IPL) trophy ever, Kolkata Night Riders (KKR) are the most discussed team online for the second year in a row, The Nielsen Company today said.
- Mumbai among world's top-10 billionaire cities: Forbes Mumbai has been named among the world's top-10 billionaire cities as it is home to as many as 20 richest Indians, according to a list compiled by the Forbes magazine.
- SBI gets Chinese nod to lend in yuan The State Bank of India (SBI) has got the permission from the Chinese authorities to lend in the local currency, the yuan--becoming the first Indian bank to get such permission from the Communist country.
- Satyam's Raju moves SC for bail Satyam Computer founder B Ramalinga Raju, the prime accused in the multi-crore financial fraud in the IT firm, moved the Supreme Court today pleading that he be released on bail.
- Maruti to supply 35,000 A-Star to Nissan The country's largest carmaker, Maruti Suzuki India (MSI), today said that Japanese auto giant Nissan has placed orders for 35,000 units of its small car A-Star for 2010-11 to sell in the European market.
- Tatas to develop commercial, residential projects in Assam Tata Housing Development Company today signed two Memorandum of Understanding (MoUs) with the Assam government to build commercial and residential projects in the state.
- DHFL founder hikes stake in company to 12% Mortgage lender Dewan Housing Finance (DHFL) today said its founder Kapil Wadhawan has hiked his stake to 12.23 per cent in the company by acquiring shares from other promoters via inter-se transfer.
- Indian workforce most mobile in world: Survey Indian employees are most eager in the world to change jobs in the next six months, a survey by global HR service provider Ma Foi Randstad said.
- Top Prudential investors warm to giant AIA deal Major shareholders in Britain's Prudential are warming to the insurer's $35.5 billion bid for AIG's Asian business following meetings with Chief Executive Tidjane Thiam, investor sources said.
- BP to pay Devon $7 bln for oil fields London-based oil major BP has agreed to buy Brazilian, Azeri and Gulf of Mexico assets from Devon Energy for $7 billion, as the US producer refocuses on onshore US fields.
- Govt shortlists 4 cos for BSNL's WiMAX franchise The government today said it has shortlisted four companies, including Teracom and Adishwar India, for BSNL's WiMAX franchise.
- M Fin to add branches, headcount in rural push Mahindra & Mahindra Financial Services will increase its headcount by up to 1,500 employees in the next fiscal as it adds branches to finance a growing army of rural vehicle borrowers, a top official said.
- LIC HF to wait for RBI norms to decide on entering banking biz LIC Housing Finance, a subsidiary of Life Insurance Corp, is interested in entering the banking business but would wait till the RBI issues its guidelines on the matter before taking a call, company CEO R R Nair said.
- Govt gets Rs 555 cr TUFS claims The government today said it received subsidy claims amounting to Rs 554.62 crore under a scheme for technology upgrade of the textiles industry.
- NMDC FPO gets poor response on day one Like its predecessors REC and NTPC, mining major NMDC, the third government-owned company to hit the markets this year, received tepid response on the first day of follow-on offer (FPO).
- More losses for oil companies as price rise option closes Even before the start of the new financial year, the spectre of rising losses during 2010-11 has begun to haunt the three state-controlled oil marketing companies that account for over 90 per cent of the countrys retail petroleum products market.
- IPL's third innings promises high-scoring revenues With just two days to go for the third edition of the Indian Premier League (IPL) Twenty20 tournament to get rolling, ticket sales have been brisk for the inaugural match in the suburbs of Mumbai and franchisees, broadcasters and movie hall-owners are all expecting high-scoring returns.
- S 500, Dow now on NSE Chicago Mercantile, NSE in tie-up for cross listing arrangement for index futures.
- India Inc faces higher gratuity provisioning Over 50 per cent of Indian companies will have to make higher provisions in their balance sheets as gratuity expenses. This follows last weeks Union Cabinet decision to raise the tax-free ceiling of gratuity payable to private sector employees from Rs 3.5 lakh to Rs 10 lakh.
- RBI to amend rules to control NBFCs turning LLPs The Reserve Bank of India (RBI) plans to amend its rules to pre-empt non banking finance companies (NBFCs) from misusing the liberal rules governing limited liability partnership (LLP) firms.
- States in one-upmanship on crop loan rates In their efforts to show that their hearts bleed the most for farmers, several state governments are turning competitive in providing crop loans at concessional or even zero rates of interest.
- States in one-upmanship on crop loan rates In their efforts to show that their hearts bleed the most for farmers, several state governments are turning competitive in providing crop loans at concessional or even zero rates of interest.
- Now, nuclear liabilities bill under a cloud BJP says no quid pro quo as SP, RJD withdraw support over womens Bill.
- Now, nuclear liabilities bill under a cloud BJP says no quid pro quo as SP, RJD withdraw support over womens Bill.
- Daimler to sell 5.34% stake in Tata Motors German car major Daimler AG is exiting Tata Motors, Indias largest commercial vehicles maker. Daimler, which held 5.34 per cent stake in the company, plans to raise around Rs 1,950 crore from the share sale.
- Government tense on Budget after Women's bill fracas PM to meet SP, RJD and JD(U) as Congress managers fear for passage of Finance Bill.
- Government tense on Budget after Women's bill fracas PM to meet SP, RJD and JD(U) as Congress managers fear for passage of Finance Bill.
- Essar group working on $8-billion listing on LSE The Essar group is exploring the option of an $8-billion listing on the London Stock Exchange, potentially making it the first Indian company to enter LSE since Vedanta Resources seven years ago.
- LIC may seek bank licence State-owned Life Insurance Corporation of India (LIC) is likely to seek a licence to float a bank when the Reserve Bank of India (RBI) allows more players.
- IPL googly: Rebid on March 21, financial clauses diluted Faced with a poor response from prospective bidders the governing council of the Indian Premier League (IPL) Twenty20 cricket tournament announced rebids for the two new franchises and significantly eased three critical financial conditions for prospective bidders.
- Dept of pharma wants review of FDI rules The department of pharmaceuticals (DoP) under the ministry of chemicals and fertilisers has proposed that the government set up an expert group to assess the impact of foreign direct investment (FDI) in this sector. The move follows complaints from Indian companies that they were being forced to sell out to foreign companies for lack of long-term funding for R&D and market development.
- Dept of pharma wants review of FDI rules The department of pharmaceuticals (DoP) under the ministry of chemicals and fertilisers has proposed that the government set up an expert group to assess the impact of foreign direct investment (FDI) in this sector. The move follows complaints from Indian companies that they were being forced to sell out to foreign companies for lack of long-term funding for R&D and market development.
- Videocon, Adani bank on Bollywood hunks in IPL-4 Videocon plans to rope in Abhishek Bachchan as the brand ambassador for its franchise in the fourth edition of the Indian Premier League in 2011, while Adani Group is in talks to get Salman Khan on board. These two corporations are the strongest contenders to win the bids for the two new franchises, which will open on Sunday, informed sources said.
- Government lab faults Mahyco's study of pest resistance to Bt cotton The Central Institute for Cotton Research (CICR), the cotton research institute of the Indian Council of Agricultural Research, has contested Monsantos claim that the pink bollworm, a pest that feeds on cotton, has developed resistance to its Bollgard cotton. Instead, CICR has pointed to the emergence of new sucking pests which could have caused economic losses to cotton farmers.
- Government lab faults Mahyco's study of pest resistance to Bt cotton The Central Institute for Cotton Research (CICR), the cotton research institute of the Indian Council of Agricultural Research, has contested Monsantos claim that the pink bollworm, a pest that feeds on cotton, has developed resistance to its Bollgard cotton. Instead, CICR has pointed to the emergence of new sucking pests which could have caused economic losses to cotton farmers.
- 'Borrowings not to hurt private sector' Finance Minister Pranab Mukherjee today tried to comfort the markets and said that the Centres gross borrowing programme of Rs 4,57,000 crore will be handled in a manner that it will not impact the credit requirements of the private sector.
- NSC, DIPP clash over FDI rule change Differences have arisen between the National Security Council (NSC) secretariat and the Department of Industrial Policy and Promotion (DIPP), under the commerce ministry, over significant changes in foreign direct investment (FDI) rules and an expanded approval mechanism for sensitive sectors.
- Maharashtra opts for a facelift Concerned by the steady slide in its status as an investment destination, Maharashtra has taken its first tentative steps towards a major makeover exercise.
- Govt widens scope of anti-abuse provisions in I-T act This article has been modified. Please see the clarification at the end.
- No restraint on revenue deficit yet Finance Minister Pranab Mukherjee may have earned plaudits for projecting a decline in the fiscal deficit to 5.5 per cent of gross domestic product (GDP) for 2010-11, but his targets for revenue deficit reduction are relatively modest and represent a departure from the 13th Finance Commission's recommendations.
- Government turns builder to give Delhi a new look In the next couple of years, Indias capital will sport a new look with the government taking its role as builder seriously.
- Pranab may fall short of 3G auction revenue Telecom operators and analysts predict that Finance Minister Pranab Mukherjee will fall short of the Rs 35,000 crore target from the auction of third generation (3G) and broadband wireless access (BWA) licences by Rs 5,000 crore to Rs 10,000 crore on account of waning investor appetite and heightened risk perceptions.
- Budget circus plays out on the idiot box Watching the coverage of the Indian Budget is akin to watching an intense game of cricket. There is a buzz in the air, the tension is palpable and everyone is guessing frantically at the final outcome. Like cricket, there is a pre-game prep session, where pundits and experts spar on their views of the likelihood of success and failure.
- Pranab favours more debate on Direct Tax Code While ruling out a review of the Budget proposals, such as higher minimum alternate tax on corporations, the government today said that it will conduct another round of consultations before finalising the Direct Tax Code. At the same time, it warned that its legislation, and the proposed goods and services tax could take some time.
- Pranab scores a goal for fiscal prudence Finance Minister Pranab Mukherjee today presented a please-all Budget, that broadly focused on fiscal stabilisation.
- An enabling state for inclusive growth The Union finance ministrys Economic Survey of financial year 2009-10 outlines a new agenda for economic and governance reform to create, as the Survey says, an enabling government.
- Set fisc in order, panel tells Centre, states States to get higher share of taxes, debt relief; 68 per cent combined debt cap proposed.
- Mamata takes Railway finances off track No rise in fares, freight rates; West Bengal corners investments.
- DoT sets new deadline for 3G auctions To start on April 9 for three slots instead of the original four.
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