Volatility in investments concern for RBI.
After successfully dabbling in organised retail in 2006, Mukesh Ambani, chairman of India's largest private sector company, Reliance Industries (RIL), has now set his eyes on no-frills, low-cost housing."RIL has deep pockets and excellent execution skills. It has executed two large projects like the Jamnagar refinery and the KG-D6 basin in a record time. Another such large project is only obvious for the company to get into," said a source close to the development.
When United States-based drug major Merck bought Schering-Plough early this month, it decided to go off the beaten track. Instead of having one managing director for the merged entity, it decided to retain both: Naveen A Rao will continue to head Merck's subsidiary MSD Pharmaceuticals in India and K G Ananthakrishnan will retain his position as MD of Schering-Plough's subsidiary Fulford India.
Over the past few months, Chandra, whose family also owns Essel, a leading packaging company for consumer products, has bought a massage clinic chain, launched an ayurvedic skin and health products brand and rejigged his US TV channel into a health platform.
The Year of India in Russia - as 2009 is officially known - has helped India Inc get into a long bear hug with the Russian consumer. They are lapping up everything - from Ratan Tata's marquee cars to Vijay Mallya's whisky.
The Centre has finalised sweeping changes to the country's foreign direct investment (FDI) policy to account for increasing concerns voiced by security agencies.
Baba Ramdev and the Tata Group are poles apart in their area of operations, but they have one thing in common: both have been quick to spot the money-spinning potential of Ayurveda's healing touch.
Biocon was scouting for more strategic alliances and exploring opportunities for outlicensing its biotech drugs under development, as it pitches for a slot among the top three bio-pharmaceutical players across the globe, said Kiran Mazumdar-Shaw, chairman and managing director.
If the spiritual guru's Patantjali Yog Peeth Trust has set up one of the world's largest centres for Ayurveda in Hardwar with facilities for treatment, research and a university, the Tatas aren't far behind. India's largest conglomerate has tied up with an NGO, the Foundation for Revitalization of Local Health Traditions, to set up the Indian Institute of Ayurveda Integrated Medicine at Yelahanka near Bengaluru.
Dr Reddy's Laboratories has succeeded in developing a copycat or generic version of Pfizer's Lipitor, the world's largest selling drug which has sales of over $10 billion.
The Foreign Investment Promotion Board has pulled up the department of revenue for rejecting all foreign direct investment proposals in which funds are routed through Mauritius and said it has taken a conscious policy decision to overrule such objections.
Traditional heavy spenders on cricket properties Vodafone, car maker Hyundai Motors, Reliance Communications and soft drink major Coca-Cola have decided to stay out of the bidding for the sponsorship of the Indian cricket team with the Board of Control for Cricket in India setting a steep base price to Rs 510 crore for a four-year deal for one of cricket's most coveted sponsorships.
Communications Minister A Raja has shifted responsibility for holding auctions for third generation or 3G telecom services to Finance Minister Pranab Mukherjee by requesting him, in a letter last week, to ensure that the defence ministry releases the spectrum it had promised on time.
The OTC major plans to pump in millions of dollars into Vedants' manufacturing facility coming up by 2011 at Ambernath near Mumbai. Perrigo will then move production of active pharmaceutical ingredients (APIs or the key therapeutic substance in a drug) from its sites in Germany and Israel to India.
Soft drinks and foods major Pepsico India Holdings Pvt Ltd has applied to the Foreign Investment Promotion Board to invest an additional $200 million (around Rs 950 crore) as equity in its Indian operations.
Intel, the world's largest chipmaker, is understood to be in talks with leading Indian telecom companies like Tata Communications (formerly VSNL), Bharti Airtel and Reliance Communications that could bid for broadband wireless access spectrum to be auctioned by the government in January 2010.
Google, the world's largest search engine and one of the biggest internet brands, is understood to be eyeing opportunities in the third generation of mobile telephony, or 3G, in India.
Nandini Piramal, heir apparent to the Piramal business empire as the elder child of Ajay Piramal and Swati Piramal, became the executive director of Piramal Healthcare in April this year. A 29-year-old graduate from Hertford College of Oxford University, with an MBA from the Stanford Graduate School of Business, she joined the firm in 2006 as a General Manager and has been closely associated with the company's overseas subsidiaries in the US and Canada.
The Securities and Exchange Board of India said it is 'closely watching' investments made by New York-based hedge fund Galleon, whose Sri Lankan founder Raj Rajaratnam was arrested for alleged insider trading on Friday.
India's ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdles if Indonesia, the second largest supplier of thermal coal, goes ahead with plans to cap coal exports to serve domestic demand.
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