The ratio is based on the valuation made by consultancy firm KPMG.
The Indian Institute of Management, Ahmedabad (IIM-A) has finally agreed to set up a satellite campus near Hyderabad. The decision was taken at a board meeting of the premier B-school on June 24, according to government officials.
While oil marketing companies would be free to price their products (only petrol, for now) periodically, they would also be conscious of where to source their products.
Reliance Infratel, the tower arm of Anil Ambani-led Reliance Communications, has agreed to merge its 50,000-tower portfolio with GTL Infrastructure in a cash and stock deal, making it arguably one of the largest merger and acquisition transactions in India.
Jet Airways had purchased a 2.5-acre plot from the Mumbai Metropolitan Region Development Authority in March 2008 for Rs 826 crore (Rs 8.26 billion) for developing its global headquarters. However, the airline did not go ahead with the plans and started negotiations to sell off the land.
Mahindra Satyam, the erstwhile Satyam Computer Services, has sought time until September 30 from the Company Law Board (CLB) to file financial statements.
Dr Reddy's Laboratories received a major setback in the US, as a court there granted a motion seeking a preliminary injunction to block the launch of its generic version of Sanofi-Aventis' anti-allergic drug, Allegra D24.
The Congress jumped into action as it found former Prime Minister Rajiv Gandhi's name was being dragged into the ongoing controversy over Union Carbide chief Warren Anderson's disappearance from the country in December 1984 after a gas leak from the Union Carbide plant in Bhopal killed tens of thousands of people.
Prime Minister Manmohan Singh told the nation that inflation should come down to 5-6 per cent by December.
High payments may be justified if many more users come in and spend more, argue analysts.
Environment Minister Jairam Ramesh tendered written apologies to Prime Minister Manmohan Singh and UPA chairperson Sonia Gandhi for his recent remarks on the Union Home Ministry's functioning.
Irda asks insurance companies to increase risk cover from July 1
Banks may have kept overall lending rates unchanged despite a rise in policy rates but have started increasing rates on corporate loans in the sub-benchmark prime lending rate (BPLR) segment.
The Union government will limit its investigations to financial irregularities and tax violations by the Indian Premier League (IPL), its 10 franchisees, as well as the broadcaster. The government does not want to interfere in the functioning of existing sports institutions, a top functionary of the finance ministry said.
The decision of the Reserve Bank of India (RBI) to ease lending norms for the infrastructure sector is expected to help companies avail better and cheaper credit flow, besides getting access to new sources of funds.
No let up in haze over Europe, expected for five more days
Ulips are investment-cum-insurance instruments that are at the centre of the confrontation between the insurance and capital market regulators.
In its first-ever break through in the United States, Reliance Industries Limited on Friday said its subsidiary Reliance Marcellus LLC would enter into a joint venture with United States-based Atlas Energy.
Foreign lenders to Wockhardt have succeeded in stalling the debt-ridden pharmaceutical company's attempts to sell its nutrition business to Abbott Laboratories.
Maruti Suzuki Chairman R C Bhargava admitted the company had "slipped up" by not informing the press on the recall of 100,000 A-Star vehicles, which began last December, even as the market gave a thumbs up to the car maker with shares going up 2.38 per cent to close at Rs 1,368.65.
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