Business News

COMPAT directs cement cos to pay 10% of Rs 6,307cr penalty  

17 May 2013, 12.34 pm  |  Source: PTI

The penalty was imposed on the companies by fair trade regulator CCI for forming cartel in the sector....

Expect profits from general insurance biz in FY14: Rel Cap   

17 May 2013, 12.08 pm  |  Source: CNBC-TV18

Speaking to CNBC-TV18, Sam Ghosh, CEO of Reliance Capital says he expects the general insurance business to turn profitable in FY14....

Drugmakers fall on government price control policy  

17 May 2013, 11.48 am  |  Source: Reuters

The policy, which will curtail prices of costly brands sold by domestic and international drugmakers, was approved by the government in November....

Power shortage in Tamil Nadu is concern: TTK Prestige   

17 May 2013, 11.47 am  |  Source: CNBC-TV18

TTK Prestige says it cannot predict recovery unless power shortage in Tamil Nadu is sorted out....

Drug pricing regime comes into effect; pharma stocks mixed  

17 May 2013, 10.36 am  |  Source: Moneycontrol.com

The Department of Pharmaceuticals on Thursday notified Drug Price Control Order 2013. Once implemented over next few months, prices of 348 essential d...

Vikram Pandit: A banker's journey from Nagpur to New York  

17 May 2013, 10.35 am  |  Source: Moneycontrol.com

After a brief stint as a professor of economics, Pandit joined Morgan Stanley as an associate in 1983. He eventually rose to the post of President and...

ITC earnings may beat estimates: StarMine  

17 May 2013, 10.15 am  |  Source: Reuters

India's biggest cigarette maker, ITC Ltd may beat Jan-March earnings consensus forecast when it reports results later in the day, according to Thomson...

SAIL, RINL can now charter ships to import coal  

17 May 2013, 10.00 am  |  Source: CNBC-TV18

State-run SAIL and Rashtriya Ispat Nigam can now charter ships to import coal requirement for their respective production facilities. This development...

Vikram Pandit invests in JM Financial; stock up 18%  

17 May 2013, 9.40 am  |  Source: Reuters

Vikram Pandit, who resigned from Citi last October, will also become non-executive chairman of JM Financial's banking arm if it succeeds in getting a ...

Ex-Citi boss Vikram Pandit to lead JM Fin banking foray  

17 May 2013, 9.24 am  |  Source: Moneycontrol.com

Nimesh Kampani-promoted JM Financial Thursday sought to strengthen its case for a banking license by roping in former Citigroup CEO Vikram Pandit....

No LPG to houses with multiple-connections from June 1   

16 May 2013, 11.00 pm  |  Source: PTI

Cooking gas or LPG supplies to households having unverified multiple connections will stop from June 1, state-owned oil firms announced on Thursday....

Court to resume Sterlite case hearing on May 22  

16 May 2013, 9.39 pm  |  Source: Reuters

Sterlite Industries' copper smelter will remain shut until at least May 22 when a court will resume hearing into complaints of emissions from India's ...

Vedanta's Dubai unit exporting copper to Sterlite's clients  

16 May 2013, 9.21 pm  |  Source: Reuters

Vedanta Resources Plc's Dubai unit is exporting 4,000 tonne of refined copper a month to customers of Sterlite Industries, whose copper smelter was sh...

ICICI Bank brings in Canadian $75m capital from Canada arm  

16 May 2013, 9.15 pm  |  Source: Moneycontrol.com

ICICI Bank repatriated around Rs 400 crore capital from its wholly owned subsidiary in Canada. The bank can now use the same fund to expand its loans ...

Vikram Pandit, Hari Aiyar to buy stake in JM Financial   

16 May 2013, 8.39 pm  |  Source: Moneycontrol.com

Vikram Pandit and Hari Aiyar will each buy 1.5% stake in JM Financial. Pandit will also be roped in the JM Financial's proposed banking and NBFC entit...

Ex-Citi CEO Pandit, partner take stake in JM Financial  

16 May 2013, 8.29 pm  |  Source: Reuters

Citi chief executive Vikram Pandit and his business partner, Hari Aiyer are to buy a 3 percent equity stake in JM Financial Ltd, financial services co...

Bet big on July Discover launches, exports: Rajiv Bajaj   

16 May 2013, 7.49 pm  |  Source: CNBC-TV18

Rajiv Bajaj, MD, Bajaj Auto in an interview to CNBC-TV18, says that the company is betting big on the launch of six versions of the Discover in July ...

FIPB nod sought for Etihad stake in Jet  

16 May 2013, 6.15 pm  |  Source: CNBC-TV18

Jet Airways and Etihad have sought the FIPB nod for Etihad’s purchase of a 24% stake in Jet. Sebi though, will be a different ball game, since it ha...

Chit funds: Ministry of corp affairs moots new law  

16 May 2013, 5.48 pm  |  Source: CNBC-TV18

Ministry of corporate affairs has mooted new law to cover chit funds. The ministry has proposed that the issue of chit funds should be examined in lig...

Tough to dampen gold demand with curbs on supply: WGC   

16 May 2013, 5.46 pm  |  Source: CNBC-TV18

PR Somasundaram MD - India, World Gold Council, in an interview to CNBC-TV18, said that the government of India would find it difficult to dampen dema...

Vedanta profit rises 21% as oil offsets iron ore hit  

16 May 2013, 5.36 pm  |  Source: Reuters

Vedanta said earnings before interest, tax, depreciation and amortisation (EBITDA) for the year to the end of March totalled USD 4.89 billion, in line...

GMR to file technical bid for Philippines airport project  

16 May 2013, 5.15 pm  |  Source: PTI

GMR to file technical bid for Philippines airport project...

Free Press Journal stands No 2 in IRS Q4 2012, AIR  

16 May 2013, 4.41 pm  |  Source: Business Wire India

As per the Indian Readership Survey, The Free Press Journal stands second* in terms of readership when compared with Financial Newspapers in Mumbai....

Sonali Bank goes live with Polaris' Intellect CBS  

16 May 2013, 4.40 pm  |  Source: Business Wire India

Polaris Financial Technology Ltd, announced that Sonali Bank Limited, the largest state owned commercial bank in Bangladesh has gone live with Polaris...

See 9.5% margin growth in FY14: V Guard   

16 May 2013, 4.22 pm  |  Source: CNBC-TV18

Mithun Chittilappilly, executive director, V Guard Industries is optimistic on the days ahead as he sees good market demand coming in from the South I...

Aiming at 22-25% credit growth ahead: J&K Bank   

16 May 2013, 4.04 pm  |  Source: CNBC-TV18

Jammu and Kashmir Bank declared a special dividend of 500 percent and is eyeing 20 percent growth going ahead. ...

Honda, H&M approach govt to open single-brand stores  

16 May 2013, 4.03 pm  |  Source: PTI

Honda Motorcycle & Scooter India (HMSI) and Swedish fashion retail giant Hennes & Mauritz (H&M) have sought government permission for opening up of si...

Allow mkt-driven tariff, open funding routes: Essar Ports  

16 May 2013, 3.30 pm  |  Source: Moneycontrol.com

Essar Ports is keen to pare debt to bring down interest cost in FY14...

Larsen & Toubro bags contracts worth Rs 2,500 cr  

16 May 2013, 3.24 pm  |  Source: PTI

Larsen & Toubro's (L&T) construction wing has won new orders valued at over Rs. 2,542 crore across various business segments in April and May 2013....

Medpro buy to boost Africa biz sales by 2-3%: Cipla   

16 May 2013, 2.29 pm  |  Source: CNBC-TV18

Cipla's acquisition of South Africa's Cipla Medpro will boost Africa business revenue by 2-3 percent, Subhanu Saxena, CEO said on Thursday....