Business News

Phaneesh Murthy's sacking a right decision: NASSCOM  

21 May 2013, 2.50 pm  |  Source: PTI

NASSCOM Chairman Krishnakumar Natarajan said the board seems to have done a fairly thorough due deligence before taking the action....

Yahoo reboots Flickr, offers 1 terabyte of storage  

21 May 2013, 2.28 pm  |  Source: AP

Yahoo to give users free 1 terabyte of online storage, enough to store more than 500,000 images at a resolution common to most smartphones. It has al...

Over 15,000 MW capacity plants stuck with no supply by RIL  

21 May 2013, 2.09 pm  |  Source: PTI

Almost 37 power stations in India have received zero supply of natural gas from Reliance Industries Limited's KG Basin. ...

Vodafone posts biggest fall in service revenue  

21 May 2013, 2.06 pm  |  Source: Reuters

Vodafone reported biggest fall for service revenue for the quarter , the group 's full-year sales aslso fell by 4.2 percent to 44.4 billion pounds, wh...

Loan refinancing to save $2.5 m in interest cost: Redington   

21 May 2013, 1.50 pm  |  Source: CNBC-TV18

Raj Shankar, deputy managing director, Redington India says the new refinance terms allows for the loan to be repaid at LIBOR plus 3.5 percent instead...

iGATE CEO Phaneesh Murthy fired on sexual harassment claim  

21 May 2013, 1.25 pm  |  Source: Moneycontrol.com

The iGate CEO was sacked following an investigation into a relationship he had with a subordinate employee and a sexual harassment claim. Gerhard Watz...

Don't expect revival in power sector orders soon: Thermax   

21 May 2013, 1.21 pm  |  Source: CNBC-TV18

Capital goods maker Thermax does not see recovery in orderflow in near term....

Phaneesh Murthy admits to relationship, alleges extortion   

21 May 2013, 12.42 pm  |  Source: CNBC-TV18

After iGate sacked CEO Phaneesh Murthy, the world was abuzz with talks of the nature of the offence. Soon after the dismissal, Murthy tackled many unc...

Kotak maintains 'add' rating on India Cements   

21 May 2013, 12.42 pm  |  Source: Moneycontrol.com

According to Kotak, a meaningful increase in prices of cement (by as much as Rs 30-40/bag) over the weekend coupled with improving volume metrics (7 p...

Yet to get clarity on power price hike: Adani Enterprises   

21 May 2013, 12.39 pm  |  Source: CNBC-TV18

Adani Enterprises is looking forward to margin improvement in FY14 , once it starts charging higher tariff from consumers....

Phaneesh Murthy fiasco: What next for iGate?  

21 May 2013, 11.11 am  |  Source: Moneycontrol.com

iGate Corp has sacked its President and CEO Phaneesh Murthy over sexual harassment claims. The company has named Gerhard Watzinger as the interim CEO ...

Don't see fall in gold jewellery demand: Titan   

21 May 2013, 10.38 am  |  Source: CNBC-TV18

Jewellers in India faced shortage of the yellow metal ahead of the key wedding season. However Bhaskar Bhat, MD of Titan feels that sales have not dam...

How Phaneesh Murthy blew it all up  

21 May 2013, 10.04 am  |  Source: Moneycontrol.com

On May 21, Nasdaq-listed iGATE Corporation sacked its president and CEO Phaneesh Murthy following a sexual harassment charge levelled against him. ...

Ministry asks airlines to clarify unbundling of services   

20 May 2013, 11.30 pm  |  Source: CNBC-TV18

Unbundling of services by domestic airlines, which allows them to charge for services like preferential seats and airport lounges, has already raised ...

JSW Energy promoter to sell 2.82cr shares via OFS on May 22  

20 May 2013, 11.16 pm  |  Source: PTI

One of the promoters of JSW Energy, Sangita Jindal will sell 2.82 crore shares - worth over Rs 190 crore - through the offer for sale (OFS) route on ...

RBI cuts time for exporters to repatriate earnings  

20 May 2013, 11.04 pm  |  Source: Reuters

The Reserve Bank of India said on Monday it has cut the time that exporters have to bring back into the country the value of goods or software they ha...

Essar Energy Mauritius arm to buy 2.4%-stake in Essar Oil  

20 May 2013, 9.57 pm  |  Source: PTI

London-listed Essar Energy Plc on Monday said its Mauritius-based unit will buy a 2.41-percent stake in Essar Oil for over Rs 267 crore....

Essar Oil to ink MoU with Chinese bank  

20 May 2013, 9.14 pm  |  Source: PTI

During Chinese Prime Minister Li Keqiang's visit to Mumbai, Essar Oil Ltd is likely to sign a MoU for up to USD 1 billion loan deal with a Chinese ban...

PSBs expected to raise Rs 9.60 lakh cr in 10yrs: Report  

20 May 2013, 8.56 pm  |  Source: PTI

Public sector banks (PSB) are estimated to raise Rs 9.60 lakh crore in 10 years period ending March 2021 assuming loan growth of 20 percent, said a re...

IOC achieves breakthrough in use of non-edible oil  

20 May 2013, 8.56 pm  |  Source: PTI

State-owned Indian Oil Corp (IOC) on Monday said it has developed technology that will help advance the use of non-edible oil extracted from plants li...

TCS beats ONGC to become most-valued company  

20 May 2013, 7.36 pm  |  Source: PTI

Tata Consultancy Services became the country's most valued firm with a market capitalisation of over Rs 2.87 lakh crore, surpassing ONGC. Reliance Ind...

Frost & Sullivan honours Tata Communications with 4 awards   

20 May 2013, 7.26 pm  |  Source: Business Wire India

Frost & Sullivan honours Tata Communications with four awards in the Enterprise Telecom Services category at the 2013 Frost & Sullivan, India, Informa...

Bloomberg appoints Samuel Palmisano as Independent Adviser  

20 May 2013, 7.26 pm  |  Source: Business Wire India

Bloomberg LP has announced the appointment of Samuel J. Palmisano, the former Chairman and CEO of IBM, to serve as an independent adviser regarding th...

MSPL Limited’s Vyasanakere Iron Ore Mine resumes mining  

20 May 2013, 7.25 pm  |  Source: Business Wire India

MSPL Limited’s flagship open cast iron ore mine Vyasanakere Iron Ore Mine, resumes mining after getting permission from the Director of Mines and Ge...

5th National Annual Survey on ESOPs from ESOP Direct  

20 May 2013, 7.25 pm  |  Source: Business Wire India

ESOP Direct, a leading solutions company in the space of Equity based compensation in India announced the results of their fifth annual survey – Equ...

Indian Students win $60,000 Grand Prize at DSIC 2013  

20 May 2013, 7.24 pm  |  Source: Business Wire India

Dell announced that a team of students from India received the $60,000 grand prize at the Dell Social Innovation Challenge 2013 for its project So...

StanChart to acquire Morgan Stanley's private banking arm  

20 May 2013, 6.28 pm  |  Source: PTI

Standard Chartered India on Monday said it has agreed to acquire the private wealth management business of Morgan Stanley India (MS) for an undisclos...

Uninor aims to achieve break-even in all circles by 2013  

20 May 2013, 6.00 pm  |  Source: PTI

Uninor claims its Gujarat circle has achieved break-even, and other circles will folloe by the year end. It plans to do this by focusing on basic ser...

RIL restarts crude unit after brief shutdown  

20 May 2013, 5.48 pm  |  Source: Reuters

The world's largest refiner restarted its Crude Distillation Unit (CDU) after being shut for a week for maintenance...

See bottomline expansion through cost cutting: Autoline Ind   

20 May 2013, 5.17 pm  |  Source: CNBC-TV18

M Radhakrishnan, Co-founder & MD, Autoline Industries said they aim at imrpoving their bottomline through various measures like cost cutting, innovati...