Sources said the company had already secured the required funds for payments due during the current year and might wait for higher valuations for assets that were on the block. Under the CDR, Wockhardt has to divest its non-core assets at an estimated value of Rs 790 crore (Rs 7.9 billion), but the company has been given six years to complete the transaction.
According to a web information company, Alexa, Google dominates the charts but Bing is already at 19th position with about 5 per cent of users from India accessing internet to visit Bing.
With entrepreneurs like Maganti drawing up aggressive plans, India has added 10,000 to 15,000 beds every year over the past five years.
The additional step is the result of a Reserve Bank of India's guideline issued this February that mandates additional authentications/verifications based on information about the card-holder that is not contained on the card. This measure is expected to contain online card fraud.
The group also has plans to spend Rs 50,000 crore (Rs 500 billion) on power generation. The London-listed giant will spend Rs 43,000 crore (Rs 430 billion) to enhance its capacity, in addition to its Rs 50,000-crore (Rs 500-billion) plan in power generation.
In a bid to reduce costs and increased offshoring focus, Tata Consultancy Services, India's largest information technology company, has recalled close to 1,200 employees from the US and has decided not to hand out any salary increment this year.
Regulators tighten net on safety grounds.
'Our visit gives us an opportunity to understand the culture of the country.'
However, the company will go ahead with its plans in Jharkhand, and has secured iron ore mines and coal linkages to the project, company sources told Business Standard. An e-mail reply from the steel major said it was not expecting its projects in India to start before 2014.
So far, VCs used to fund start-ups which either had product prototypes ready or had some customers on board.
Nitish Mittersain, founder of Nazara Technologies, is among the few entrepreneurs who have remained unflappable in the current economic crisis. Having set up Nazara, a mobile entertainment company, right at the time of the dotcom bust, Mittersain claims to have sufficient experience to withstand this financial downturn too.
Wockhardt Chairman Habil Khorakiwala can breathe easy, as bankers have approved the debt restructuring package he had sought three months ago.
Five Indian metals and mining companies are in the race for acquiring mining rights for the largest iron ore deposit in war-torn Afghanistan. The government has shortlisted Vedanta group's Sesa Goa, Essar Minerals, Ispat Industries, JSW Steel and Rashtriya Ispat Nigam for a bid for the 1.8 billion tonne Hajigak iron ore deposit.
Aditya Birla group flagship firm Hindalco Industries has decided to trim its overseas operations and is restructuring its capital expenditure in India in an effort to stabilise operations. As part of this overall plan, Novelis, which Hindalco acquired for $6 billion in 2007, is closing its sheet mill at Rogerstone in the UK, involving 440 job losses.
Fortis Healthcare, promoted by former Ranbaxy owners Malvinder Singh and Shivinder Singh, will raise Rs 1,000 crore (Rs 10 billion) through a rights issue by the first week of August, to fund its expansion plan.
Easy usage, no-maintenance claim draw consumers to these desktop alternatives.
It will focus on sourcing 800 Mw for BEST and 477 Mw for its own distribution system from April '10. Sources said TPC on Thursday officially wrote a letter on the issue to R-Infra, informing them that it would support the ADA group company till March next year in the interest of Mumbai's consumers, and help R-Infra find alternative arrangements. While a Tata Power spokesperson declined to comment, an R-Infra spokesperson expressed surprise over the decision.
WakeupWalmart.com, an anti-Wal-Mart website which belongs to the United Food and Commercial Workers Union, came out with a report two days ago titled, 'Wal-Mart's vaunted $4 prescriptions supplied by disgraced Indian manufacturer.' UFCW claims to have a membership of over 1.3 million workers in the US and Canada. WakeupWalmart.com mainly campaigns for the rights of Wal-Mart employees and consumer interests.
These four youngsters turned their passion for books into a successful online book lending service, discovers Shivani Shinde.
Partly an answer to downturn, political pressure; trend should shift again, say analysts.
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