Business News

All set to comply with RBI norms on banking license: IDFC   

19 Jun 2013, 2.16 pm  |  Source: CNBC-TV18

IDFC is all set to meet the requirements of RBI guidelines for new banking license, the most important step being creation of non-operating holding fi...

Why TRAI is utterly wrong about cross-media ownership  

19 Jun 2013, 1.48 pm  |  Source: Firstpost.com

In an interview to The Hindu, Rahul Khullar says he wants to restrict cross-media ownership and recommend an "institutional buffer between corporate o...

Biocon plans Rs 1,200 capex over next 3 yrs: Citi  

19 Jun 2013, 1.45 pm  |  Source: Moneycontrol.com

The Bangalore-based biotechnology company expects its revenue will rise 15-18 percent, driven by research services and branded formulations in India....

Karvy initiates coverage on Arvind, sets target at Rs 103   

19 Jun 2013, 1.15 pm  |  Source: Moneycontrol.com

Arvind is expecting Rs 700-800 crore of net cash flow over a period of six years. Based on valuations, Karvy expects Arvind to touch Rs 103 per share ...

Glenmark gets USFDA approval for sclerosis treatment drug  

19 Jun 2013, 12.57 pm  |  Source: PTI

Glenmark Generics Inc, the US-based subsidiary of Glenmark Generics Ltd (GGL) has received final approval from the US Food and Drug Administration (US...

FDI will get back FIIs; export mkt saturated: Sunil Munjal   

19 Jun 2013, 12.57 pm  |  Source: CNBC-TV18

The export slowdown seen in May trade deficit data is quite disappointing. Sentiment in global market is still very subdued, barring North America mos...

Coal India, NTPC shares down despite supply row nearing end  

19 Jun 2013, 11.49 am  |  Source: Moneycontrol.com

Sometime back, NTPC had said it will make payment depending on the quality of coal. It had also alleged that fuel supplied by the miner had impurities...

Dr Reddy's sued for 'infringing' thyroid injection patent  

19 Jun 2013, 11.27 am  |  Source: PTI

The US Drug maker requested the court to pass an order to restrain Dr Reddy's Labs from commercially manufacturing, using, offering for sale, selling,...

No logic for FIIs to invest in debt as arbitrage dips: SBI  

19 Jun 2013, 11.09 am  |  Source: PTI

A senior SBI official said that looking at the real interest rate and the macro fundamentals of the economy, the rupee has to depreciate by 5% every y...

Religare promoters to sell 22.75% stake to meet RBI norms  

19 Jun 2013, 10.20 am  |  Source: PTI

Religare, a leading non-banking financial services company, is among the major contenders for new banking licences, for which the applicants are requi...

Glenmark gets final US nod for sclerosis treatment drug  

19 Jun 2013, 10.14 am  |  Source: Moneycontrol.com

Riluzole is indicated for treating amyotrophic lateral sclerosis and according to IMS Health data had sales of USD 64 million for year ended March 201...

Air travel up 5% in May courtesy holidays, low fare schemes  

19 Jun 2013, 9.56 am  |  Source: Moneycontrol.com

SpiceJet with 19.8 percent share overtook bigger rival Air India which secured 19.1 percent share. Wadia-Group promoted GoAir has 9 percent market sha...

Money laundering: StanChart, HSBC officers caught on camera  

19 Jun 2013, 9.22 am  |  Source: IBNLive.com

HSBC and Standard Chartered officers have been caught in a Cobrapost sting operation, offering to launder money. A Cobrapost undercover reporter posin...

India hurting US jobs, economy: American biz group  

19 Jun 2013, 9.03 am  |  Source: PTI

The alliance alleged that over the last year, India has systematically discriminated against a wide range of innovative US products and exports in ord...

Unilever open offer price for HUL 'fair, reasonable': Panel  

18 Jun 2013, 10.58 pm  |  Source: PTI

FMCG major Hindustan Unilever's committee that looked into the propsed USD 5.4 billion open offer siad that the offer price of Rs 600 per share was fa...

CIE Automotive make Rs 207 cr open offers for 2 M&M firms  

18 Jun 2013, 10.09 pm  |  Source: PTI

Spanish group CIE Automotive made open offers worth Rs 207 crore to two Mahindra and Mahindra for acquiring 26 percent stake in Mahindra Forgings and ...

Class action suit filed against iGate over Murthy affair  

18 Jun 2013, 9.00 pm  |  Source: PTI

iGate has been slapped with class action lawsuit in the US for alleged violations of federal securities laws in view of its sacked CEO Phaneesh Murthy...

Shasun Pharma shares plunge 8%  

18 Jun 2013, 8.32 pm  |  Source: PTI

Shasun Pharma's shares fell 8 percent on the back of the company's operations at its Puducherry plant being affected by the strike called by the worke...

MHA, defense views sought on 100% FDI in telecom: Sources   

18 Jun 2013, 8.19 pm  |  Source: Moneycontrol.com

Views of Ministry of Home Affairs (MHA) and defense will be sought over allowing 100 percent foreign direct investment (FDI) in telecommunication sect...

CPI leader Dasgupta launches fresh attack on Moily over RIL  

18 Jun 2013, 8.18 pm  |  Source: PTI

CPI leader and MP Gurudas Dasgupta today said no action has been taken against Reliance Industries for deliberately keeping natural gas output low and...

EGoM likely to meet on June 26 to discuss spectrum auction  

18 Jun 2013, 7.55 pm  |  Source: PTI

A high-powered ministerial panel is likely to meet on June 26 to decide on the third round of spectrum auction and pricing of airwaves. ...

Sidbi to pick Rs 1000 cr worth SME stakes; net up 45%  

18 Jun 2013, 7.41 pm  |  Source: PTI

Small Industries Development Bank of India is set to pick up equity stakes upto Rs 1,000 crore in small businesses. Rs 750 crore will be invested from...

Nokia has followed Indian tax laws to a tee: Shivakumar   

18 Jun 2013, 7.28 pm  |  Source: CNBC-TV18

After an eight-year stint, Shivakumar will quit Nokia on June 30. Sivakumar led Nokia India between 2006 and 2011 and has seen the company rise to the...

European biz witnessing recovery: VA Tech Wabag   

18 Jun 2013, 6.20 pm  |  Source: CNBC-TV18

Amit Sengupta, ED, VA Tech Wabag says the company’s European market business is witnessing recovery, and its footing in the domestic market remains ...

Era Infra expects pick up in stagnant order book this year  

18 Jun 2013, 5.47 pm  |  Source: CNBC-TV18

TD Arora of Era Infra Engineering said that the company's stagnant order book was expected to pick up on the back of the company bagging the Kochi met...

69 power plants yet to sign FSA with CIL: CoalMin   

18 Jun 2013, 3.47 pm  |  Source: PTI

Around 69 power plants are yet to sign a fuel supply pact with state-run Coal India, Coal Ministry today informed Prime Minister's Office....

Ranbaxy slumps to near 4-year low; rupee to add to injury  

18 Jun 2013, 3.28 pm  |  Source: Moneycontrol.com

Ranbaxy shares have plunged more than 22 percent since it pleaded guilty to felony charges in the US last month. Further the Supreme Court in India ha...

Vodafone India reduces 2G data charges by 80%  

18 Jun 2013, 3.25 pm  |  Source: Reuters

The new rates will currently be applicable in Karnataka, west Uttar Pradesh, Madhya Pradesh and Chhattisgarh circles. ...

NPPA to fix cap on prices of over 300 drugs by month-end  

18 Jun 2013, 3.06 pm  |  Source: PTI

Drug pricing regulator National Pharmaceutical Pricing Authority (NPPA) said that it will fix the ceiling prices of over 300 formulation-based drugs b...

BHEL wins Rs 450 crore R&M contract from Mahagenco  

18 Jun 2013, 2.33 pm  |  Source: PTI

The World Bank-funded Rs 450 crore contract has been placed on BHEL by the Maharashtra State Power Generation Corp Ltd, the statement said. The order ...