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India Business Update
You are here : Moneycontrol » India Business Update
6th-Nov-09 19:35
Telecom Regulatory Authority of India (TRAI) today challenged telecom tribunal TDSAT\'s ruling that slammed it for not following uniform procedure while recommending the subscriber-linked criteria for allocation of additional spectrum and asked the government to revise the rule appropriately.
by Sunanda Jayaseelan | 6th-Nov-09 19:11
All work and no play has made Indian IT employees dull and unhappy. That’s the finding of a recent survey conducted by Bengaluru-based Peoplehealth
6th-Nov-09 19:05
SK Roongta, Chairman, SAIL, has said that the SAIL FPO is to come up for cabinet approval by month end. Government will offload 5% of its stake. Also there will be a fresh equity issue of 5% of the paid up capital. Proceeds from the equity issue will to be used for modernisation plans; borrowing for modernisation will be to the tune of Rs 25000 crore.
6th-Nov-09 18:31
As per sources, the I-T department has opened a new front against the company and filed an objection with the Delhi High Court. They have objected to Vodafone’s tower business demerger into Indus.
6th-Nov-09 17:36
Indian sugar prices are trading at a record high in Maharashtra and UP. The Kolhapur sugar is at an all time high at Rs 3382.5, up 84% this year.
by PTI | 6th-Nov-09 15:32
Domestic private air-carriers, Jet Airways and Kingfisher Airlines, today raised their fuel surcharges by up to Rs 200 on domestic flights. SpiceJet too may follow.
5th-Nov-09 18:10
The cabinet secretary will review the FDI norms in aviation. The aviation ministry has proposed a 25 per cent FDI limit in Indian carriers. Singapore Airlines, Lufthansa, British Airways, Emirates and Virgin Atlantic have expected to have shown interest in the same.
by Press Release | 5th-Nov-09 18:02
It may be noted that Price Waterhouse having its Head Office at New Delhi had filed a Writ Petition before the Hon’ble High Court of Delhi which had come up for hearing on 03.11.2009. The Hon\'ble Court observed that the Director Discipline shall decide and issue fresh notice to Price Waterhouse (New Delhi) and thereafter proceed further in accordance with the Chartered Accountants Act and Rules framed there under.
by Vineetha Athrey and Raja Rajeshwari | 5th-Nov-09 17:43
GVK Power is spinning big plans for a Bangalore foray. It has picked up a 12 per cent stake in Bangalore International Airport for Rs 484 crore, from Zurich Airport and is eyeing more in the next couple of years.
by Ashwin Mohan | 4th-Nov-09 19:00
While there continues to be a cloud over the anticipated Jet-Sahara out of court settlement (both companies are embroiled in a tax dispute case at the Bombay High Court) , one airline major has opted for the settlement route.
by Manisha Gupta | 4th-Nov-09 17:46
Farmers in Uttar Pradesh are protesting the low FRP, which they say is not line with high sugar prices. The farmers are also against imports as they curtail bargaining power when selling cane. The agitation has led to UP Cane Commisioner and government halting the imports in state for a month starting today.
4th-Nov-09 15:48
Govt sources say that the Fertilizer ministry has written to the PM to alter the gas allocation policy. The ministry says allocation should not be incumbent on the plant being operational.
4th-Nov-09 15:20
The government is to use the disinvestment proceeds for bridging the fiscal deficit. Cabinet is to discuss the 2-yr ‘holiday’ for National Investment Fund. All disinvestments proceeds since 2007 are parked in NIF.
3rd-Nov-09 18:33
The Indian rupee slipped against the U.S. dollar Tuesday, tracking weak local stock markets and the euro, which fell to a three-week low against the greenback. The dollar was up in late trade at INR47.41 from INR46.97 Friday. Indian markets were closed for a religious holiday Monday.
by PTI | 3rd-Nov-09 18:26
The government today said it is looking at steps to cut subsidy on fertiliser and oil sale with an aim to cutting non-Plan expenditure and contain fiscal deficit.
3rd-Nov-09 17:57
GA, which owns 16 per cent stake in Patni, is likely to exit the company. It is looking to receive 10 per cent premium from the market price, and thereby $200 million from the sale. They are in talks with Apax Partners, Bain Capital and IBM.
3rd-Nov-09 17:37
Finance Minister Pranab Mukherjee today said the government is considering setting up regulators for the coal and other infrastructure sectors.
3rd-Nov-09 16:57
Indian gold futures climbed to a record high on Tuesday as world prices rose on news the International Monetary Fund had sold 200 tonnes of gold to the Indian central bank. The December contract on the Multi Commodity Exchange of India Ltd rose to Rs 16,248 ($345.7) per 10 grams, erasing the previous high of Rs 16,173 on Monday.
3rd-Nov-09 16:44
Mahindra Satyam is to sign an outsourcing deal with SAAB, valued at $300 - $400 million. The deal is likely to spread across five to 10 years, and is to manage the operations of SAAB.
by Priyal Guliani | 3rd-Nov-09 15:24
The securities appellate tribunal has given the First Global joint MD four weeks to file an appeal in the Supreme Court. Sharma can trade till November 30 as SAT’s order will remain in abeyance till that date.


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