Business News

Tata Steel says no assets up for sale in Europe  

23 May 2013, 11.12 pm  |  Source: Reuters

Tata Steel has put no European assets up for sale, following a USD 1.6 billion writedown for the region in the past financial year due to weak demand....

Cannot comment on charges against Ranbaxy: Thakur    

23 May 2013, 10.38 pm  |  Source: CNBC-TV18

Dinesh Thakur, the Ranbaxy whistleblower, says he have no basis to comment on Daiichi Sankyo's decision to sue the Singh family for concealment and mi...

JSW Steel eyes coal mines in Africa, US and Canada  

23 May 2013, 9.34 pm  |  Source: PTI

JSW Steel Ltd is looking to acquire coal mines in Africa, US and Canada, a senior company official said today....

Naresh Goyal buys 29% stake in Jet from promoter entity  

23 May 2013, 9.30 pm  |  Source: PTI

Jet Airways chairman Naresh Goyal today picked up over 29 percent stake in the private carrier from another promoter entity for about Rs 1,434 crore....

SBI to invest in high quality stocks only: Chaudhuri  

23 May 2013, 9.17 pm  |  Source: PTI

Country's largest lender State Bank of India (SBI) will invest in high quality stocks only which have good trading volumes and less volatility, Chairm...

Exim Bank FY13 net jumps 10% to Rs 742 cr  

23 May 2013, 8.48 pm  |  Source: PTI

Exim Bank's total business crossed Rs 1,37,774 crore during the year. It reported a 10 percent rise in net profit at Rs 742 crore for the fiscal year ...

ChrysCapital to buy 10-12% stake in CavinKare: Sources  

23 May 2013, 8.44 pm  |  Source: CNBC-TV18

CavinKare plans to sell 10-12% stake in its FMCG business to private equity player ChrysCapital for Rs 350 crore, according to sources....

JSW Steel confident of 9-10% growth in FY14 crude steel   

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

JSW Steel is confident of meeting its guidance of 9-10% growth in crude steel given the higher avilability of iron ore. ...

Wockhardt says USFDA import alert could impact biz by $100m  

23 May 2013, 6.43 pm  |  Source: PTI

Shares of the Mumbai based Wockhardt today tanked by 20 percent to close at Rs 1,315.25. Wockhardt Chairman Habil Khorakiwala said import alert could ...

Will strive to get ARPU of Rs 175 in FY14: Dish TV   

23 May 2013, 6.41 pm  |  Source: CNBC-TV18

Dish TV India will strive to improve its average revenue per user to Rs 175 going ahead, says Jawahar Goel, MD, Dish TV....

Wockhardt tanks 20% on US FDA import alert   

23 May 2013, 6.10 pm  |  Source: Moneycontrol.com

The US drug regulator has issued an import alert on Wockhardt's facility at Aurangabad in Maharashtra. The stock closed down 20 percent, its lower cir...

Banking, security cos to spend Rs 42,200 cr on IT services  

23 May 2013, 5.50 pm  |  Source: PTI

IT services is expected to be the largest overall spending category at Rs 13,200 crore in 2013, which confirms the strong focus on the financial servi...

Fast News: Nikkei massacre and other top headlines  

23 May 2013, 5.47 pm  |  Source: Moneycontrol.com

The Indian market had a bloodbath on Thursday mirroring Nikkei massacre. The Sensex lost 387.91 points to close at 19674.33 and the Nifty losing 127.4...

Ssangyong receives 80 bn won from Mahindra  

23 May 2013, 5.13 pm  |  Source: PTI

The preferential offer has resulted in an increase in the paid-up capital of SMC by 11.9 per cent and increase in M&M's stake in SMC to 72.85 per cent...

De-growth in education biz weighed on Q4 nos: NIIT  

23 May 2013, 5.04 pm  |  Source: CNBC-TV18

Even though revenues have dropped, Vijay Thadani, CEO of NIIT says three out of four businesses have done exceptionally well. ...

Essar Projects wins contracts worth USD 80 m in Abu Dhabi  

23 May 2013, 4.41 pm  |  Source: PTI

Essar Projects, a leading engineering, procurement and construction (EPC) firm, on Thursday said it has bagged three new orders totalling USD 80 milli...

Ranbaxy shares slump after Daiichi Sankyo says misled  

23 May 2013, 4.35 pm  |  Source: Reuters

"Daiichi Sankyo believes that certain former shareholders of Ranbaxy Laboratories concealed and misrepresented critical information concerning the US ...

Sonia Gandhi, Nooyi among 10 most powerful women globally  

23 May 2013, 3.54 pm  |  Source: PTI

Congress President Sonia Gandhi and India-born PepsiCo chief Indra Nooyi figure among the top 10 in the global list of most powerful women compiled by...

FM should not rob oil companies to show a lower deficit  

23 May 2013, 3.51 pm  |  Source: Firstpost.com

The finance ministry’s best and only option is to free market pricing of diesel and cap the subsidies on kerosene and cooking gas so that subsidies ...

Ranbaxy plunges 10% on reports Indian govt orders probe  

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

Ranbaxy slumped on Thursday after some reports said the Indian government too has initiated an investigation into its past documents and applications ...

Why RIL, Rangarajan or Moily should not decide gas prices  

23 May 2013, 3.05 pm  |  Source: Firstpost.com

Under pressure from the gas producing companies, the UPA government set up the Rangarajan Committee which came up with a formula that would double gas...

SEBI, CCI seek clarity on Jet-Etihad deal  

23 May 2013, 2.46 pm  |  Source: PTI

SEBI and CCI seek clarificatiion on Jet-Etihad deal. Both the regulators want to ensure level playing field in the aviation market and to protect the ...

Network18 exits Webchutney, earns 300% on investment  

23 May 2013, 2.43 pm  |  Source: Moneycontrol.com

Last financial year, Network18 profitably sold its entire stake in Newswire18, divested its Yellow Pages and Askme businesses and diluted its majority...

Will sustain 10-15% growth in FY14: NCC's Murthy   

23 May 2013, 12.11 pm  |  Source: CNBC-TV18

Construction firm NCC says its debtor days have improved to 73 days and tihs will improve cash flow....

EPP would impact GRMs by $2.80/bbl: IOC    

23 May 2013, 10.54 am  |  Source: CNBC-TV18

In order to bring down the deficit by nearly Rs 15,000 crore, the finance ministry yesterday decided to change the pricing policy for petrol and diese...

Srei Infrastructure to buy Austrian bank unit: Paper  

23 May 2013, 10.36 am  |  Source: Reuters

Hemant Kanoria, chairman and managing director of Srei Infrastructure denied being interested in Austria or any other European Union territory when as...

Phaneesh Murthy pressured Roiz for abortion: Lawyer    

23 May 2013, 10.17 am  |  Source: Moneycontrol.com

As a result of Mr. Murthy's influence over Ms Roiz, she continued the relationship with him and ultimately, Ms Roiz became pregnant with Mr. Murthy's ...

Kotak retains 'add' on Larsen & Toubro, cuts target price  

23 May 2013, 9.20 am  |  Source: Moneycontrol.com

Kotak Institutional Equities has retained its 'Add' rating on Larsen & Toubro (L&T) despite the company posted poor results. L&T also declared a bonus...

Shapoorji Pallonji not to enter realty PE space    

22 May 2013, 11.00 pm  |  Source: CNBC-TV18

Shapoorji Pallonji one of the country's largest developers, has called off its plans to foray into the real estate private equity space, as the compan...

PM releases UPA report card, lashes out at Opposition   

22 May 2013, 10.00 pm  |  Source: CNBC-TV18

Manmohan Singh presented the report card of the UPA government on Wednesday. Expressing his gratitude to Sonia Gandhi, he says India’s international...