Talks will begin later on the share purchase agreement, which will be done much later, after the negotiations are completed.
Telcos say tariffs could be cut by up to 20 per cent. While post-paid customers constitute only 5 per cent of the total customer base of 670 million, they make up over 15 per cent of revenues thanks to their relatively higher average revenue per user (Arpu).
The much-hyped target set by Union road transport and highways Minister Kamal Nath, to build 20 kilometres of roads every day, might be revised to a more achievable target, informed sources say. Sources close to the development say there is talk within the ministry of a more feasible target. "The target of 20 kilometres per day is not sacrosanct. That is what the minister wanted to achieve.
The plan of action ranges from drawdown of loans to seeking additional guarantees, to even recalling some of the loans, if the situation so warrants.
Millions of Indian households are setting up wireless networks not just for PCs, but for other WiFi enabled devices, too.
Indian companies have raised over Rs 3.13 lakh crore up to September, excluding foreign currency convertible bonds (FCCBs) and external commercial borrowings in September. This is close to the cumulative Rs 3.14 lakh crore raised in 2009.Inc's highest fund mobilisation was in 2007, when it mopped up over Rs 3.20 lakh crore.
Essar Power and GMR are among the global bidders for a 450-Mw dual fuel power project planned by the Bangladesh government at Sirajgonj, about 140 km from Dhaka.
The two arms of L&TFH are L&T Finance, with its retail, micro-finance and corporate loan portfolio, and L&T Infrastructure Finance.
Blackberry, in partnership with Vodafone, has come up with an in-your-face kind of campaign that makes no reference to the controversy.
Merck arm sues Sun over cancer drugSchering Corporation, part of multinational pharma company Merck & Co, and London-based Cancer Research Technology Ltd have sued Sun Pharmaceutical for allegedly infringing patent rights on the world's largest selling brain cancer drug, Temodar.
But with the tower asset sale being called off, RCom now has to wait for a new plan before it can reduce its staggering Rs 33,000-crore (Rs 330-billion) debt, which would have been reduced by over half (Rs 18,000 crore or Rs 180 billion) if the tower deal would have gone through.
The Reliance-Anil Dhirubhai Ambani Group (R-ADAG) has picked up a 15 per cent stake for Rs 225 crore (Rs 2.25 billion) in a new international airport coming up at Aranmula in Pathanamthitta district of central Kerala.
Cipla, the largest player in the domestic drug market, could play white knight for Cipla Medpro, South Africa's third-largest drugmaker and a key ally of the Indian company. Cipla is looking to acquire around 25 per cent in the manufacturing division of Cipla Medpro, where it does not hold any stake at present.
The company had already sought bids to set up towers in countries like Nigeria, Kenya and Tanzania, said sources. Bharti is giving these orders market wise, instead of one bulk order.
With passage of the nuclear liability Bill, the heavy engineering supply chain, led by Bharat Heavy Electricals Ltd (BHEL), Larsen & Toubro (L&T) and Bharat Forge Ltd (BFL), is gearing to take up the challenge ahead.
Telecom companies are eyeing a piece of the market share where data usage generates a higher amount of revenue, once 3G services are launched later this year.
In a twist to the tale of drug patent infringement cases in the United States, Indian drug company Lupin has sued Ranbaxy Laboratories, which is now controlled by Japanese drug major Daiichi Sankyo, in an American court.
India Inc's bear hug with Russian consumers is getting warmer. From selling marquee cars to liquor, the relationship is heading into the next league -- joint ventures in diverse areas such as petrochemicals, telecom, pharmaceuticals and nanotechnology.
Over 550,000 small drug retailers in the country are transforming into producers and marketers of pharmaceutical products, readying to compete with companies such as Ranbaxy, Cipla, Sun Pharma and Lupin whose produce they sell.
The company is in talks to tie up with 50 top brands in the country across sectors like apparel, restaurants, electronics and even consumer goods.
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