Following the two-tranche disinvestment, the government and the company would get Rs 8,000 crore (Rs 80 billion) each, Home Minister P Chidambaram told reporters after a meeting of the Cabinet Committee on Economic Affairs.
The country's largest passenger car manufacturer Maruti Suzuki India Ltd is planning to hike prices on rise in input costs.The company last raised prices in January 2009.
Hyundai has also decided to phase out Getz looking at the growing demand for i20.
Meanwhile, the company on Wednesday launched an advanced version of its mid-sized Verna sedan, priced at Rs 6.56 lakh-Rs 9.22 lakh (ex showroom Delhi).
The CBI action came a day after the agency filed its second charge sheet in the case alleging that former director general (state armed police) and Trinamool Vice President Rajat Majumdar and East Bengal Club official Debabrata Sarkar were beneficiaries of the money collected through chit fund scam.
In a statement issued on Friday, India's largest car manufacturer said that 'due to sharp increase in the input costs and also introduction of BS-IV norms in some models, Maruti Suzuki India Ltd has decided to pass on part of this cost impact to customers.'
The Oil Ministry has fixed the subsidy payout by upstream firms like Oil and Natural Gas Corporation and Oil India Ltd at Rs 15,546.65 crore (Rs 155.46 billion) for the April-June quarter.
The Oil Ministry has approved the sale of 10 per cent Government holding in consultancy firm Engineers India Ltd, and a public offering is expected in the second half of July.
State-owned Indian Oil Corp and Oil India Ltd on Tuesday confirmed making an 'approach' to take over the Middle-East focussed oil firm Gulfsands Petroleum Plc for an undisclosed cash amount.
After getting Indian Oil Corporation, the nation's largest oil firm, to drop four independent directors and Engineers India Ltd to boot out two, it is now seeking to sack former Power Secretary P Uma Shankar, chartered accountant S Ravi and former BPCL Chairman R K Singh from the board of ONGC.
Gas Authority of India Ltd, which signed a memorandum of understanding with the state government recently, will spend Rs 2,000 crore (Rs 20 billion) this year to lay the pipeline, a senior company official said.
Iran has complained of irregular shipments
Nestle India Ltd will focus on growing its dairy, coffee and confectionary businesses, its new boss said
After stiff resistance from its employees against a steep pay cut, National Aviation Company of India Ltd), which runs Air India, has come out with a fresh proposal to impose a 15-17 per cent cut on the total salary package.The total package includes basic salary, dearness allowance, house rent allowance and payments made under the productivity-linked incentive scheme . The cut, however, would not be applicable on 4000 employees.
Although he denied any wrongdoing, Sibal was forced to revert to Oil India on October 31 as group general manager -- a rank which he held prior to becoming the director general of directorate general of Hydrocarbons.
The automaker was found to have engaged in anti-competitive practices.
The subsidy burden of upstream oil companies, Oil and Natural Gas Corporation and Oil India Ltd, have risen 42 per cent in a single quarter.
"I believe that we have the potential of dominating the Asian economy," he said.
The deadline for these overseas mining firms for responding to CIL's EoI notice is August 31 this year.
The Indian firms will develop the Carabobo-1 block in Venezuela's Orinoco Belt with Spain's Repsol YPF SA and Malaysia's Petroliam Nasional Bdh, ONGC said.
The amount of banks' non-performing assets (NPAs) or bad loans brought into the market for sale has more than doubled in the past four years.
The government plans to more than double the price of natural gas produced by Oil and Natural Gas Corp (ONGC) to $4.20 per mmBtu, in a move that will help the state-run firm break even in gas business.
The company no longer sees the London listing as necessary to access capital and the deal will simplify Vedanta's corporate structure.
Santa Fe was first introduced globally in 2001 as Hyundai's first SUV.
State-owned Coal India is expected to seal deals worth $1.8 billion (about Rs 8,000 crore) with foreign firms in the next two months for mining coal abroad.
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The pipeline where the incident occurred was a dedicated line carrying gas to Lanco's 1,466 MW Kondapalli power plant.
Coal India's foreign-venture arm Coal Videsh chief general manager Phalguni Guha said he expected the deal with Peabody to be finalised in the next 'few months'.
In what could hit trading on Power Exchange of India Ltd, the Forward Markets Commission has warned it to cease trading in contracts beyond 11 days of payment and delivery. The FMC has also advised traders to desist from trading such contracts on PXIL.
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 Ministry of Finance may seek the Union Cabinet's approval for the proposed 10 per cent stake sale in state-owned Coal India Ltd by the end of this month, a senior Coal Ministry official said
The increase in prices by the country's largest steel producer is effective from April 1.
Kodak India Ltds executive director Felix Fernandes resigned.
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
According to top sources in the airline, about half the employees will shift to these JVs, which will be clearly focused on the areas of operation and will have to make money.
Bosch Rexroth (India) Ltd, a subsidiary of German automation giant Bosch Group, a drive and control solutions for industrial applications, has bought private land near the Tata Nano site in Sanand recently with plans to set up its second manufacturing unit in the state.
Currently, the government holds 100 per cent stake in the PSU and plans to offload 10 per cent equity through the IPO, which will offer 63.16 crore (631.6 million) shares.
After struggling to acquire land for a steel plant in Orissa since 2005, Korean steel giant Pohang Iron and Steel Company (Posco) has found a way of gaining a foothold in India. It has agreed in principle to tie up with state-owned Steel Authority of India Ltd for a steel project that is likely to cost upwards of Rs 15,000 crore.
ArcelorMittal, Anglo Australian major Rio Tinto, Hyderabad-based GVK Power & Infrastructure, Essar Mineral Resources and JSW Steel are among 10 prominent corporations in a shortlist to develop 18 abandoned coal mines owned by state-owned Coal India Ltd and its eight subsidiaries.
The Enforcement Directorate on Tuesday arrested Financial Technologies India Limited founder Jignesh Shah in connection with its probe into the Rs 5,600-crore National Spot Exchange Limited money laundering scam.
The government is likely to go ahead with divestment in 12-15 public sector units, including SAIL, Coal India, Hindustan Copper, Satluj Jal Vidyut Nigam Ltd and Engineers India Ltd among others next fiscal to raise Rs 40,000 crore, as stated in the budget.
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