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VSNL to buy Teleglobe for Rs 1,000 cr
BARELY a month after it announced the closure of its acquisition of Tyco Global Network for $130 million (over Rs 550 crore), Videsh Sanchar Nigam has entered into an agreement to acquire Teleglobe International Holdings Ltd for $239 million ...
Profit-making PSUs to get more financial autonomy
THE Cabinet Committee on Economic Affairs (CCEA) on Monday decided to increase the financial autonomy of profit-making Central Public Sector Enterprises (CPSEs). The committee has also allowed more discretionary power to the Chairman-cum-Managing ...
Stock markets have not outpaced economy, says SEBI Chairman
THE latest run-up in the stock market indices is not indicative of an over-heated capital market, the Securities and Exchange Board of India Chairman, Mr M. Damodaran, hinted on Monday. "I think what the Finance Minister said was that if the ...
Sensex zooms past 7,500 on foreign fund inflows; bank stocks shine
STOCK prices continued their upturn taking the BSE Sensex past 7,500 points for the first time. Bank stocks, including SBI and ICICI Bank, lead the pack as FIIs continued to buy shares ahead of the quarterly review of the monetary policy on ...
Dunlop won't come cheap, says Jumbo
Chhabrias reassessing revival package
THE Jumbo group is in no hurry to cash out of the ailing Dunlop India Ltd and has said that the potential suitors who have aired their interests in the closed company should not harbour hopes of "getting it cheap." Jumbo, with controlling ...
Corporate car sales dip amid confusion over FBT
THE confusion surrounding the fringe benefit tax (FBT) on perks relating to cars has impacted corporate sales in the first quarter this year. Car sales to the corporate sector, which normally account for 50-60 per cent of the total sales, ...
Ford's new car to make global debut in India
DEFINING India as a priority market for the company, Mr David Friedman, Managing Director and President, Ford India, today announced that the world premiere for the company's next vehicle is slated to be in India. Though the company did not ...
Maruti Q1 net rises 32.5 pc
MARUTI Udyog Ltd (MUL) has posted 32.5 per cent increase in net profit to Rs 226.46 crore during the first quarter ended June 30, even as the company's total income (net of excise) grew only 6.1 per cent to Rs 2,725.37 crore. During the first ...
Govt awards 18 blocks under NELP; ONGC, RIL emerge as major players
ONGC and Reliance Industries Ltd have emerged as major players in the fifth round of the New Exploration Licensing Policy (NELP V). Of the 20 blocks that were offered under the NELP V, the Government on Monday awarded 18 blocks, while ...
It's curtains for coffee futures exchange Shareholders approve winding up of operations by July 31
Cofei was the first in the world to launch raw coffee futures in 2000. It was also the first commodity futures exchange in the country to go online.
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