The bid-pack for potential investors is ready and the government-appointed board has already sent it to the Company Law Board and Securities Exchange Board of India, according to sources close to the development.
The USFDA has accused Ranbaxy of falsifying data and test results of medicines. A Daiichi Sankyo statement said it takes the issue very seriously. 'Both Daiichi and Ranbaxy have formed a team to solve the issue. Ranbaxy will be responding to the FDA and will continue to cooperate with the agency.' Ranbaxy shares fell more than 18 per cent to Rs 169.85 today on the Bombay Stock Exchange, while Daiichi stock dropped about 10 per cent to yen 1,680 on the Tokyo Stock Exchange.
Fox Star Studio India, the distributor of Slumdog Millionaire in the country, has managed to gross around Rs 40 crore (Rs 400 million) from the markets, surpassing collections of some of the biggest Bollywood hits of last year such as Rock On.
This is one question that's uppermost in the minds of analysts, marketmen and industry experts even as the Company Law Board on Thursday gave the scam-tainted IT firm's stake sale plan the go-ahead.
Major investment plans for a fabrication facility have put off due to the slowdown. A full-fledged fab requires an investment of $3-4 bn. Moreover, even if a fab were to come up now in the country, the technology would be rendered obsolete by the time it starts production. "If the government was serious about making the electronics manufacturing ecosystem robust, why is it sitting on proposals? How can you sustain a company's interest for so long?" asks an industry source.
Low-cost computing is all set to grow, but if the Rs 500-Sakshat is also to be called a 'laptop', it confuses users and hurts the market
Surinder Kapur, president of the company's 'vendor council,' said it has about a dozen representatives from Tata Motors and an equal number from the vendors. "We supply for about 4-5 per cent of our revenues to Tata Motors and we do not have payment issues," he said. Lumax, which derives about 15 per cent of its turnover by supplying almost half of the lighting solutions for Tata Motors worth about Rs 60 crore a year, said they had not experienced any payment issues.
The Kushan Pal Singh-led realty major has halted construction work on nearly 16 million sq ft of office and retail mall space out of the 62 million sq ft of planned construction. In the office space, the developer has stalled construction on nearly 12 million sq ft of office space out of the 36 million sq ft of space being planned.
That the value of brand Satyam would be eroded many times over, following its former chairman Ramalinga Raju's admission that he had cooked the company's books, was a given.
The government has suggested that the new Satyam Computer Services board should also look within the company to appoint a CEO and CFO.
The Mumbai police, along with a group of enthusiastic citizens including Mumbai Sheriff Indu Shani, combed commercial complexes, malls, office buildings and residential premises in south and south-central Mumbai to identify and get rid of unsecured Wi-Fi connections in the city, following terrorist attacks last year.Terror mails were sent via unsecured Wi-Fi connections before the Delhi and Ahmedabad serial blasts also.
The move is expected to give high retail exposure to its products in innumerable kirana stores in the country, without having to spend much on advertising and marketing expenses apart from generating business volumes. When contacted, Reliance Retail spokesperson said: "As a policy, we do not comment on speculation." In a recent reshuffle at the company, Reliance Fresh head Gunender Kapur was made head of private labels business in the company.
Ram Myanampati, the interim chief executive officer of beleaguered Satyam Computer Services, on Thursday admitted that he himself is on a shaky ground.
While portals such as makemytrip, cleartrip and ezeego have seen a rise of 30 per cent in advance booking in the first week of January, others such as yatra and travelocity, with a 10-15 per cent surge, are also expecting more bookings in the coming weeks. The cleverly-introduced advanced booking fares have induced passengers to book tickets until as late as November.
IBM's India Research Laboratory completes pilot project on 'spoken web' concept in Andhra.
Private equity investments in public firms have tanked as much as $2.24 billion so far this year, thanks to the massive erosion in equity markets as well as the present economic downturn, a latest study says.
Insurance, telecom, infrastructure, FMCG and energy are unlikely to downsize; Elsewhere, only top performers are safe.
Three major undersea cables -- the Sea Me We 4, Sea Me We3, and FLAG -- were cut, considerably slowing down India's internet and voice traffic. The extent of the damage is still being assessed.
If implemented, this will be music to the ears of shareholders and analysts who have been insisting that Satyam would be better off returning money to shareholders.
The crux of the problem it appears is one of "trust" and the perception that a unilateral decision was taken by the board, allegedly to favour Raju's sons' companies.
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