And despite a slowdown, media planners say advertisers are pouring in over Rs 600 crore (nearly half the ad budget for cricket in 2009). This represents a more than 10 per cent increase over last year's spends on television, co-branding of teams and marketing, among others.
The country's largest manufacturer of commercial vehicles by sales, Tata Motors, is lifting the production curbs imposed between October and December last year across all its plants that make commercial vehicles.
It's official now. Engineering giant Larsen & Toubro has sought management control of Satyam.
As companies find themselves in the midst of an unprecedented meltdown, the role and expectations from CEOs are changing, according to Spencer Stuart, one of the largest global recruitment agencies for senior directors and CEOs. It has made these findings from recruitments undertaken in India across sectors like financial services, telecommunications and FMCG, amongst others.
It has rejected a proposal by Subash Chandra-promoted Wire and Wireless India, which has sought permission to issue partly paid-up equity shares, pursuant to its rights issue. WWIL is in the cable network business. The shares were to be issued to non-residents, which also included FIIs, venture capital funds, multilateral and bilateral development financial institutions, and eligible NRIs for cash aggregating up to Rs 450 crore (Rs 4.5 billion).
The dispute involves a UK-based hedge fund, Altima Partners, and the company's principal promoter Raghav Bahl, founder and largest shareholder of Network18, the broadcasting group which runs TV channels such as CNBC-TV18, Colors and Awaaz.
India's largest sport utility vehicle maker Mahindra & Mahindra's plan of launching its vehicles in the US has suffered a delay of almost 12 months following clearance awaited from the US homologation department.
Auctions for spectrum for 3G or third-generation telecom services could be delayed from an already rescheduled date of January 30 after the Department of Telecommunications sought legal opinion on whether it should send the finance ministry's suggestion on doubling the reserve price back to the Telecom Regulatory Authority of India for its endorsement.
Will scrap bid if it falls below government's revenue expectations.
Unprecedented fall in sales has resulted in build-up of huge inventories, and dealers are pleading with car makers. . .
Indian Oil Corporation, the country's largest oil marketing company by sales, will open the country's first hydrogen fuel-dispensing station in New Delhi next month. The new-age pump will be set up in Dwarka.
Bajaj family members are in the final stages of reaching a peace formula to their six-year-old dispute over the division of group companies and assets. Sources familiar with the developments said an announcement can be expected in the next 10 days, but did not want to divulge details.
Korean car maker Hyundai Motors India Ltd said it will have to lay off 2,000 temporary workers, about one-fourth of its labour force, to tide over a decline in car sales. The company employs over 8,400 workers, of which around 3,300 are temporary.
This is the second project in the country in which a metro rail project is being undertaken through a PPP model after the 71-kilometre Hyderabad metro project was won by Maytas Infrastructure. According to industry sources, infrastructure major Larsen & Toubro had also initially shown interest for the project, but backed out finally.
This is the first time Hill & Knowlton, part of the WPP group that has several joint ventures in advertising, is venturing into India in this area. The Hong Kong-based company has presence in more than 41 countries across the globe. The PR business has been attracting the attention of international agencies and many have already set up JVs or signed partnerships with Indian players.
India's auto component makers not only face slower growth in the domestic market, the Export Credit Guarantee Corporation of India is now refusing credit insurance to over 50 auto component companies that sell to the Big Three car makers in Detroit.
The company attributes the delay to the slump in demand for commercial vehicles in the country since the beginning of the current year.
The special discount of Rs 800,000 offered on the Honda Civic Hybrid is not sustainable by the car-maker and could be a strategy to clean up its inventory.
Days after NTT DoCoMo of Japan announced that it will buy 26 per cent in Tata Teleservices for $2.7 billion, NRI businessman C Sivasankaran has decided to put on the block his eight per cent stake in the company.
After 11 years of hanging like a sword on PepsiCo India Holdings Ltd, the government's condition that the company must dilute its equity in fully-owned downstream ventures is close to being waived.
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