ICICI Securities, Daiichi Sankyo's offer manager, has indicated that there will be a delay in payment for Ranbaxy's accepted shares as the acquisition of the country's largest drug maker is yet to clear all regulatory and procedural hurdles. Daiichi has agreed to accept Ranbaxy shares from the open market as well as its promoters for Rs 737 a share. The company's scrip closed at Rs 347.2 at the Bombay Stock Exchange on September 22.
Mukesh Ambani gave a fascinating account of how the company, which will soon account for around 40 per cent of the country's oil & gas production, can change the energy landscape of the country. It can also potentially lead to a new gas-based economy, he said. Terming natural gas as the 21st century fuel, Ambani said India now has the opportunity to leapfrog the use of clean energy and directly benefit the people.
The investment would be spread over manufacturing capacity, market infrastructure, environment sustainability initiatives, R&D and agriculture. Pepsico Chairman and CEO Indra Nooyi said the new investment will generate 50,000 direct and indirect jobs in India. PepsiCo has invested $ 700 million since its entry into the country in 1989, employing 4,000 people directly and some 60,000 others indirectly.
Vijay Bhatnagar, chief executive officer of ArcelorMittal India, said, "The move is aimed to ensure that these people, who have never handled large sums of money, do not get misguided by unscrupulous elements and end up losing their money. The objective is to figure out ways for these people, who have very little or no education and financial knowledge, to get the highest possible returns through the safest possible investments."
While end-users in big cities such as Mumbai and Delhi are postponing buying houses due to a number of reasons such as unaffordable prices, rise in interest rates and increase in their monthly pay-outs among others, investors have sold off their properties to pay for losses suffered in the stock and property markets, consultants said.
About 64 per cent of the total outbound Indian tourists had sightseeing on the agenda; others travelled to explore new places, seek a change from daily routine, destress and visit family and friends, the report stated. Nature, safety and hygiene are among the important factors considered when selecting a travel destination. Singapore emerged as the most common travel destination for Indians (24 per cent) in the next 12 months, followed by Dubai, Australia, and Malaysia.
Online bus booking started in India around 18 months ago. It is estimated to be a 15,000-crore market and is growing at 20 per cent a month. Currently, bus booking is less than 0.01 per cent of the total online travel booking segment. On an average, portals charge 10-20 per cent commission on ticket value from bus operators. On an airline booking, it is below 5 per cent.
The expansion into nuclear is part of the group's plan to invest as much as $ 50 billion by 2014 to expand its business in the world's second-most populous nation. The group has already concluded talks with overseas companies which can offer technological and related support to enter the business. "There will be a flood of American investments in the country once the deal is concluded," S P Hinduja said.
The nuclear energy business in India would be in the order of $100 billion (about Rs 4 lakh crore) in about 10 years after the deal comes through. A few companies dealing in clean energy have been making enquiries with the commerce department about the possible trade opportunities and the scope of nuclear business, he said.
Infosys Technologies Limited, the Bangalore-based consulting, IT services and business process management company, is leveraging its human resource (HR) development strategies to bring new business into its fold, said company's chief executive officer and managing director S Gopalakrishnan (Kris).
GMR Hyderabad International Airport (GHIAL) has developed the Rajiv Gandhi International Airport at Shamshabad ahead of schedule, but the company officials are not in a position to tell when the new facility will commence commercial operations even three days after its inauguration.It is learnt that most of the private airlines, including domestic and international carriers, are yet to enter into an agreement with the new airport's two ground handlers.
This is the fifth centre to be established at the ISB. The school has already set up four such centres in the areas of entrepreneurship, finance, logistics & manufacturing, and IT.
Punjab is opposing Centre's area-based tax exemption policy while the underdeveloped states are lauding it as a "well deserved" package.
Pilot DD Gandhi, who flew the Kingfisher aircraft from Mumbai's Chhatrapati Shivaji International Airport, circled thrice over the Shamshabad airport before touching the South Asia's longest runway (4,260 metres) amidst applause from the 50-odd passengers, mostly journalists besides guests and officials of the GMR group.
Governor ND Tiwari while addressing the joint session of the legislative Assembly, which commenced the 40-day annual budget sessions on Monday , said the Airports Authority of India had conducted a site location feasibility study for the international airport at Visakhapatnam and the site had been finalised near Rayavaram.
Aditya Birla Retail Limited (ABRL), the retail arm of the Aditya Birla Group, would be investing Rs 8,000 to Rs 10,000 crore (Rs 80-100 billion) in expanding its operations across the country over a period of five years.
India Ka Hero, perhaps the first-of-its-kind online reality show, developed by NowPos (short for NowPossible) Online Services Private Limited, allows aspiring musicians, singers, dancers and comedians shed their stage frights and showcase their artistic abilities.
While the private companies have to spend Rs 8-12 crore (Rs 80 to Rs 120 million) on building and other infrastructure for each school, the government would provide 30-50 acre land free of cost to the developers of these schools.
Pista House ties up with Gati for worldwide delivery.
Centre for Sustainable Agriculture has leveled serious charges against Genetic Engineering Approval Committee for allowing large-scale field trials of Bt Brinjal.
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