Business News

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...

Oil Ministry recommends natural gas price hike to $6.7  

20 May 2013, 5.08 pm  |  Source: PTI

The oil ministry has moved a cabinet note to raise the price of natural gas produced by state-owned ONGC and OIL as well as private firms like Relianc...

See higher growth; plan to add 950 beds in 18 mths: Apollo   

20 May 2013, 4.54 pm  |  Source: CNBC-TV18

Apollo Hospitals expects growth to pick up in the medium-term after sales fell due to extensive holidays during the quarter. Joint MD Suneeta Reddy ad...

Evening Capsule: Here's what made headlines in biz world  

20 May 2013, 4.35 pm  |  Source: Moneycontrol.com

Here's a lowdown of all the developments that made news today. ...

Telenor India unit says achieved breakeven in Gujarat zone  

20 May 2013, 4.29 pm  |  Source: Reuters

Norwegian telecoms company Telenor's Indian unit said on Monday it had achieved breakeven in its core earnings in Gujarat zone and would further expan...

City Union Bank PAT up 15%, sees healthy core income growth   

20 May 2013, 4.16 pm  |  Source: CNBC-TV18

City Union Bank core has seen good growth in core income this quarter. The gross NPA has come down from 1.23 percent to 1.13 percent, while the gross ...

Thomas Cook plans to monetise real estate assets   

20 May 2013, 3.44 pm  |  Source: CNBC-TV18

In Mumbai, the company owns over 60,000 sq ft space and has another 43,000 sq ft in the heart of Delhi. The company's South Mumbai property is estimat...

Mercator expects interest cost easing to aid nos this year   

20 May 2013, 3.37 pm  |  Source: CNBC-TV18

In terms of business, Patwardhan says the company’s coal volumes were flat in FY13. However, he expects FY14 volumes to be 'substantially better' th...

ICRA explains: How NBFCs will gain from banking licences   

20 May 2013, 3.24 pm  |  Source: CNBC-TV18

Vibha Batra of ICRA believes that priority sector targets and current account/saving account (CASA) build up will be key to the success of these NBFCs...

Colgate slips on fear P&G's toothpaste foray may hurt sales  

20 May 2013, 2.49 pm  |  Source: Moneycontrol.com

P&G plans to enter the toothpaste market in India this year under the Oral-B brand. Analysts feel P&G's entry could hurt Colgate, as it will have to i...

Karl Slym has fix for ailing Tata Motors  

20 May 2013, 2.39 pm  |  Source: Forbes India

Karl Slym wants to change the way Tata Motors makes and sells its cars. But the cars he has don’t sell; and his idea of those that will should take ...

M&M gains on earnings hopes of Korea unit  

20 May 2013, 2.18 pm  |  Source: Reuters

Shares in Mahindra and Mahindra Ltd gain 3.8 percent, after stocks of its subsidiary Ssangyong Motor Co Ltd hit a 16-month high, dealers say....

Sun Pharma: Courts ok transfer of domestic formulation biz  

20 May 2013, 2.07 pm  |  Source: Moneycontrol.com

The High Courts of Gujarat and Mumbai have approved Sun Pharmaceutical Industries' plan to transfer its Domestic Formulation business to Sun Pharma La...

Morgan Stanley to sell unit to StanChart  

20 May 2013, 1.57 pm  |  Source: Reuters

Morgan Stanley launched the sale of its Indian private wealth management unit in November 2012, after entering the highly fragmented and competitive m...

Low cost healthcare, not just price curbs, needed: Biocon    

20 May 2013, 1.34 pm  |  Source: CNBC-TV18

The new drug policy is unfavourable to big players feels Kiran Mazumdar Shaw, but adds that Biocon will not be impacted significantly by it....

Satisfied with Q4 nos; will maintain NIM at 8.5%: PTC Fin   

20 May 2013, 1.14 pm  |  Source: CNBC-TV18

The stock, however, was down 2.9 percent on the stock market at 12:22 IST based on weak earnings....

New drug price policy: Which pharma cos will feel the heat?  

20 May 2013, 1.00 pm  |  Source: Moneycontrol.com

Brokerage house HSBC has released a note on the new drug price control order (DPCO) and its impact on the Indian pharma companies. The broking firm be...

Just Dial eyes large chunk of traffic from mobile internet   

20 May 2013, 12.07 pm  |  Source: CNBC-TV18

VSS Mani of Just Dial expects a large chunk of traffic coming through mobile internet. Also, the company will adopt a scheme "safety net'' for retail ...