The Indian Oympic Association came down heavily on the Government for adopting double standards on Dow Chemicals' sponsorship of the London Games and said the Sport Ministry's plans of selective boycott of the London Olympics will have "serious repercussions".
Madhya Pradesh chief minister Shivraj Singh Chauhan urged the government to boycott next year's London Olympics because of the event's sponsorship deal with Dow Chemical company, according to local media reports.
DJSI is an international indicator, which tracks the financial performance of companies having outstanding sustainability conduct.
United Phosphorus Ltd has purchased the US-based Dow AgroScience LLC's oryzalin herbicide business, including Surflan, for $21.3 million.
Investors' wealth eroded by Rs 6 lakh crore in a single day on Wednesday as the BSE benchmark Sensex tumbled over 790 points. The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it slumped 872.93 points or 1.19 per cent to 72,222.29.
Among the Sensex firms, major winners included Tata Steel, rising 3.77 per cent, followed by HCL Tech, which gained 3.62 per cent. IndusInd Bank and PowerGrid closed with a gain of 3,60 and 3.34 per cent, respectively. Other gainers were Tech Mahindra, Hindustan Unilever, Bajaj Finserve and Bharti Airtel, among others. On the other hand, ICICI Bank, Axis Bank, Asian Paints, Bajaj Finance and TCS were the only laggards, sliding up to 2.94 per cent.
The Supreme Court on Monday issued notices to the Union Carbide Corporation, Dow Chemicals and others on a Centre's plea seeking enhancement of compensation to the victims of 1984 Bhopal gas tragedy from Rs 750 crore to Rs 7,700 crore.
A children's movement in Bhopal takes on the might of Dow Chemicals.
"If I go there at all, I would be addressing the (US-India) CEOs meeting and also have some bilateral meetings with Treasury officials. I do not know of any other meeting. I do not know from where these things come," he told media persons in Ahmedabad when asked about reports about his plans to meet with Dow Chemicals CEO Andrew Liveris in the US.
One of the world's most-watched index reached a record high yesterday. Here are some key takeaways for investors.
In a major development that will allow Indian investors access to the American market, the National Stock Exchange (NSE) has decided to begin trading in futures contracts of S&P 500 and Dow Jones Industrial Average (DJIA), two of the world's most influential market indices.
Amid growing resentment over Dow Chemicals' association with the London Olympics, the IOA's Executive Board decided to write a 'strong' protest letter to the IOC, seeking the removal of the company as a sponsor of the Games next year.
Pune villagers are protesting against Maharashtra govt's move to give about 40 hectare of grazing land to Dow Chemicals for a R&D facility in Shendi village. The area's dairy business has suffered due to this and the villagers were also not informed. Activists say there is no environmental impact assessment report for the project. Over 10 villages in the Pune district have launched protests to save their grazing land, by not allowing construction material into their villages.
The international chemical giant Dow will invest $100 million in Research and Development (R&D) facility at Chakan, near Pune. The centre may be fully functional by 2010. The R&D facility would come up in the 100-acres, and will employ 500 researchers.
The backing of the 16-member board on Tuesday sends the offer to the Bancroft family, which controls the majority voting shares of the company, for a final vote.
Global index developer Dow Jones Indexes, in partnership with Dharma Investments, on Tuesday launched 'Dharma Indexes,' which measure the performance of companies selected according to the value systems of religions, especially Hinduism and Buddhism.
Rupee-denominated contracts will be traded from 9 am to 5 pm.
The two entities are in talks for launching option contracts based on the US index at the Indian exchange.
The Indian Olympic Association on Monday expressed deep concern at Dow Chemical Company's sponsorship role in the 2012 London Olympics and said it would write to the organisers to reconsider the decision.
It has emerged that a senior US government functionary offered to help India garner greater funding from the World Bank in return for protecting Dow Chemicals from possible legal fallout from the gas tragedy.
Investors should use a mix of active and passive funds.
As Air Force One landed in India's financial capital with promises of bonding between the United States and the country in many sectors, one of the key people missing from Barack Obama's 200-member business delegation was, The Dow Chemical Company chief.
The apparent linkage had been implied by a report on the Times Now news channel that disclosed an email exchange between US Deputy National Security Advisor for International Economic Affairs Michael Froman and Deputy Chairman of the Planning Commission Montek Singh Ahluwalia.
The issue of allowing trading in indices such as the Dow Jones and the S&P 500 on the National Stock Exchange (NSE) is being considered by the Reserve Bank of India (RBI).
A day ahead of the crucial General Body Meeting of the Indian Olympic Association on the controversial Dow Chemicals issue, its acting president VK Malhotra, on Wednesday, demanded the company to be removed from being one of the sponsors of the 2012 London Games.
Notwithstanding persistent claims by the multinational chemical company that it has no plans to convert the R&D center into a manufacturing unit across the 100 acres of land it has acquired through Maharashtra Industrial Development Corporation at village Shinde, the protest by locals and activists continues.
The board of Dow Jones and Co. has decided to take no action on the $5 billion unsolicited bid for the company by media mogul Rupert Murdoch's News Corp., the company has announced.
The Congress-led opposition stepped up its attack on Friday against the government over the Adani row and demanded that there should be a thorough investigation into what they alleged was a 'mega scam' as it involved public money.
Dow Chemicals will be converting its Pune unit into a global R&D centre that will focus on a wide spectrum of products.
Leading stock exchange BSE on Tuesday postponed the removal of Jio Financial Services Ltd, the demerged non-banking financial services unit of Mukesh Ambani-led Reliance group, from all the S&P BSE Indices to August 29. Earlier, the stock was scheduled to be removed from the indices on August 24. Jio Financial Services Ltd (JFSL) got listed on the bourses on Monday and hit the lower circuit for the second day in a row on Tuesday.
An Indian-origin Opposition Labour Party MP secured a debate in Westminster Hall of the UK parliament to call for justice for the victims of Bhopal gas tragedy, which will mark its 38th anniversary early next month.
JSW Steel (3.37 per cent), Tata Steel (3.33 per cent), Maruti (3.24 per cent), Power Grid (3.07 per cent), IndusInd Bank (2.95 per cent), Bajaj Finance (2.12 per cent) and Tech Mahindra (2.22 per cent) were among major gainers. On the other hand, Ultratech Cement, Sun Pharma, Nestle and L&T were the losers.
Fund managers of large-cap and equity-linked saving schemes (ELSS) have demonstrated a marked improvement in their performance over the past year, according to the latest SPIVA (S&P Indices Versus Active) report released by S&P Dow Jones Indices. In the one-year period ending June 2023, 17 per cent of active large-cap schemes outperformed the S&P BSE 100, compared to just 9 per cent at the end of June 2022. In the case of ELSS, there was a sharp improvement in performance, with 66 per cent of active schemes delivering better returns than the benchmark S&P BSE 200.
Proceedings in both Lok Sabha and Rajya Sabha were disrupted as Opposition members raised slogans demanding a discussion and a Joint Parliamentary Committee (JPC) probe into the fraud-allegation-triggered rout.
Gold prices are struggling and are down 18 per cent from their March highs. But stock prices have fallen even more. As a result, the precious metal has begun to outperform equities - both in the domestic market and international markets. Gold prices are up 2.6 per cent in the domestic market in the current calendar year (CY22) so far, according to the World Gold Council (WGC), compared to a 1.7 per cent decline in the Sensex year-to-date (YTD).
M&M was the biggest loser in the Sensex chart, falling 6.39 per cent, followed by Tech Mahindra, Nestle India, Bajaj Finance, Axis Bank, ITC, JSW Steel, HDFC Bank and RIL. On the other hand, Sun Pharma, Tata Motors, Bharti Airtel, L&T and Infosys were among the winners, rising up to 2.10 per cent.
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