With Arvind Jadhav, principal secretary, in the department of infrastructure development of the Karnataka government, emerging as the frontrunner in the race to replace Raghu Menon as the chairman and managing director of the state-owned National Aviation Company of India Ltd (Nacil), which runs Air India, informed sources said Menon lost the coveted job because of his opposition to the airline's proposed joint venture with Singapore Airport Terminal Services (SATS).
The Anil Dhirubhai Ambani Group-promoted Sasan Power was Rs 2,500 crore short of the roughly Rs 15,000 crore it needed to borrow for the project. Now, India Infrastructure Finance Company Ltd has agreed to lend around Rs 2,500 crore. A consortium of 12 domestic banks have already committed around Rs 12,500 crore, with State Bank of India and Power Finance Corporation leading the pack, with Rs 3,500 crore and Rs 1,800 crore respectively.
The agreement with the new owners of Satyam Computer Services will incorporate restrictions to prevent mass retrenchment of employees, according to a top functionary of the Ministry of Corporate Affairs (MCA).
Lupin Ltd, one of the top five domestic pharmaceutical companies, plans to revamp its drug research programme and foray into novel biotech and reverse engineering of biotech drugs (or biosimilars).
You can make millions, if you are a celebrity and are willing to license your name to other people's business ventures.
Mumbai is a distant number two with 90 per cent, followed by Delhi at 83 per cent. The fourth metro, Kolkata, is way behind with 67 per cent. The four metros account for 16 per cent of the country's mobile subscriber base, but 25 per cent of the total revenue. That means their residents use their phones more and pay fatter bills than subscribers elsewhere in the country. This is the user profile that rings a bell for mobile phone marketers.
Maruti Suzuki, India's largest car company by sales, is working on an ambitious plan to launch electric cars and compressed natural gas variants for three or four models in the domestic market.
Dr Reddy's Laboratories, Jubilant Organosys, Orchid Chemicals, Aurobindo Pharma and Shasun Chemicals and Drugs are among those who have borrowed either to expand locally or to acquire companies abroad, but are now struggling to repay the dues, analysts say. Some of the companies' debt now exceeds their market capitalisation, as local and global investors sold stocks on concerns over slowdown and falling revenues. A few drug makers may be forced to sell assets to repay debt.
Three leading international pharma companies have started due diligence to acquire Wockhardt Ltd's wholly-owned Irish generic drug company, Pinewood.
Wockhardt will divest a 24 per cent stake in its unlisted subsidiary, Wockhardt Hospitals.
Maruti Suzuki, the country's largest car maker, continued its three-month dream run by notching up a 15 per cent jump in domestic sales in March. Maruti's March sales follow a 19 per cent growth in February, when it sold a record 70,625 cars -- the highest ever by the company. In March 2008, the car maker sold over 64,000 cars.
The telecom tower-transmission business is going to see a shake-up with cash-rich and independent companies moving in with aggressive plans.
After launching the Nano early this week, the country's leading truck and bus maker, Tata Motors, is now looking to set up a truck manufacturing plant in Myanmar with support from the Indian government in the form of financial participation.
RIL is grappling with other priorities -- sliding oil prices, shrinking refining margins and a battle with the Anil Ambani group over the supply of gas. The plan was to build an integrated pharma company in two to three years, on the lines of large domestic majors such as Ranbaxy's or Dr Reddy's Laboratories. Instead, the plan has been modified to being a start-up bulk drug manufacturing company that will launch six bulk drugs or active pharmaceutical ingredients by 2010.
The decision to relocate the second edition of the Indian Premier League (IPL) Twenty20 tournament to South Africa has prompted several key advertisers such as Hyundai, Havell's and Reebok, among others, to consider cutting back budgets or pulling out.
"The scene will be a bit like the Maruti 800 days. Those who are lucky enough to be allotted cars this year can resell it immediately at a premium of Rs 30,000 due to the anticipated shortage," an executive at a Motors dealer said. Supply, Tata Motors dealers say, would be between 40,000 and 50,000 cars, with 100,000 being the most optimistic estimate. This would mean customers may have to wait for up to two years to get delivery if all the bookings are accepted.
The sector has expansion plans worth more than Rs 2,000 crore to increase their bed strength in response to robust demand. Fortis, which now manages 3,000 beds with a network of 26 hospitals, is planning to double capacity by 2012 with 40 hospitals. Apollo Hospitals, which has 7,500 beds in 43 hospitals in India and overseas, plans to add 2,000 beds in two years. Meanwhile, the 17-hospital Wockhardt chain will soon add hospitals at Kolkata, Mumbai and at Nasik in Maharashtra.
Tata Motors subsidiary Telco Construction Equipment Company Ltd (Telcon) has opposed a proposal to the Foreign Investment Promotion Board (FIPB) from John Deere for a joint venture with Ashok Leyland to distribute and market its construction equipment in India.
SBI may charge 14 to 14.75% for 5-year loans.
Domestic pharmaceutical market registered a value growth of 14.4 per cent in January and 9.9 per cent in the 12 months ended January 2009. The yearly turnover was Rs 34,487.17 crore. The growth of the domestic drug sector, which was just 6.8 per cent in November 2008, improved to 13.2 per cent in December and to 14.4 per cent this January.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances