Both IIM-Bangalore and IIM-Calcutta confirmed the development. "We have received placement requests from some students from the 2006-08 batch. We are trying to approach companies at a personal level and help these students get placed," confirmed a professor from IIM Bangalore.
The government-owned Indian Oil Corporation is tying up with US-based National Renewable Energy Laboratory for a pilot project to produce second generation biofuel. This biofuel -- essentailly bio-ethanol -- would be produced from cellulosic biomass or degradable agricultural waste or wood.
ICICI Bank, the country's largest private sector bank, has scaled down its overseas operations, especially in the United States and Sri Lanka. It has also recalled some employees from its international offices now that the businesses of fund-raising and merger and acquisitions have shrunk.
Failed attempt to acquire stake in Kolhapur-based bank seen as trigger.
While the level of non-performing assets for banks is on the rise, despite the Reserve Bank of India's push for debt restructuring, cases referred to the corporate debt restructuring cell increased to 34 at the end of March 2009, as against 10 at the end of 2007-08. CDR, which was set up in 2002-03, is a mechanism for faster disposal of restructuring cases involving multiple lenders, though foreign banks are yet to join the platform.
"With RIL commissioning its second refinery last December, the total capacity of the (Jamnagar) complex will go up to 1.24 million barrels a day, exposing it to international vagaries. By surrendering the EOU status of one refinery and maintaining that of the other, the company will be able to hedge its risks," said an industry veteran. EOU status for RIL's second refinery currently ends in March 2010.
Within 15 days of opening the registration process for Nano, its Rs 1 lakh car, Tata Motors has sold nearly 5,00,000 application forms, raking in Rs 15 crore (at Rs 300 each). Distributors associated with the Nano bookings said most of the forms were likely to translate into bookings.
It would be complete by 2012 with a total investment of over Rs 11,300 crore, including an estimated Rs 2,300 crore from RIL and Rs 9,000 crore from GAIL. Analysts say refineries -- Mangalore Refinery and Petrochemicals, Chennai Petroleum Corporation, Essar, Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation -- located in the vicinity of these pipelines would benefit as they would be able to substitute costly fuel oil with cheaper gas.
P M S Prasad has been part of Mukesh Ambani's A-team for the last 25 years. The 55-year-old engineer, now president and CEO (petroleum), Reliance Industries, joined the company in 1984, when it was building a captive power plant at Patalganga, 70 kilometres north of Mumbai.
Loans at a discount to the benchmark prime lending rates of banks are back with a majority of the fresh loans being disbursed at sub-PLR rates.
With interest rates softening, banks are slowly re-pricing the cost of short-term credit extended to the corporate sector.
"This is for the first time that a manufacturer will charge for an application form. However, it will be refunded if an application is rejected," said a senior bank executive. Bookings are expected to start by the last week of March. The forms will be collected through various channels. "All the forms and the collected money will be transferred to SBI, where they will be processed, and loans will be given through various banks within 90 days," said a source.
RIL has been using gas from GAIL during the past three months to test-fire the 1,440-km east-west pipeline, India's longest, from Kakinada in Andhra Pradesh to Bharuch in Gujarat. Only 100 km of the pipeline remains to be test-fired. It will transport gas from the world's largest gas discovery at the Krishna-Godavari basin in the Bay of Bengal to Jamnagar in Gujarat, where it has set up the world's largest petroleum refinery.
Despite a troubled job market that could continue for another year or more, many B-schools are looking at expanding the number of seats by up to 50 per cent and launching new programmes. B-schools maintain the demand for good students will remain even in a troubled job market and the student pool and programme portfolio need to be expanded. "Besides, when these students pass out in the next two years, the market will be better," said a director from one of the institutes.
The options include doing away with Day Zero and reducing placement fees. Day Zero is the name given to the day placements begin at the IIMs. Day Zero and Day One are reserved for top companies and placement fees are higher on these days. In good times, most students are placed on these days, leaving the smaller companies to return empty-handed.
Falling crude prices and the global credit crunch have jeopardised India's efforts to attract more investment in oil exploration and production, with several domestic and international companies opting to sell part of their participating interest in E&P projects. Around half-a-dozen companies are currently in talks with exploration and production majors -- mainly state-owned Oil India and Oil and Natural Gas Corporation -- to farm out part of their stakes.
Eight companies are in the fray for rolling out gas networks in six cities, bids for which were invited by the Petroleum and Natural Gas Regulatory Board. The deadline for submission of the bids expired on Tuesday.
At a time when the economic slowdown is eating into corporate earnings, the country's economy hotels, including Krizm Hotels and Berggruen Hotels, are going ahead with their expansion plans.
High crude oil prices in 2008 have left the government richer by a few thousand crore rupees. In 2008-09, the government earned "windfall profits" from the petroleum sector as crude oil prices spiked, touching a high of $147 in July 2008.
Refining margin is the difference in prices of crude oil and finished products. More exposure to diesel behind less fall in Indian refining margins.
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