Thomas Cook India Ltd named Stefan Pichler chairman. He replaces Pradip Madhavji.
The Union petroleum ministry has proposed a 44 per cent increase in prices of natural gas sold under the administered price mechanism by state-owned Oil & Natural Gas Corporation and Oil India Ltd.
It will be the second FM radio operator to have listed on the BSE, after Entertainment Networks India Ltd that operates its radio business under the Radio Mirchi brand.
The country is planning to increase its nuclear power generation by about 60,000 mega watts (Mw) within the next 25 years. This planned capacity addition is being executed by the state-owned Nuclear Power Corporation of India Ltd (NPCIL). Its head, Chairman and Managing Director SK Jain, tells P B Jayakumar about his plans and expectations.
Indian Oil Corp, the nation's largest oil firm, will set up a Rs 10,000 crore (Rs 100 billion) nuclear power plant in association with Nuclear Power Corp of India Ltd.
The timing, however, would be decided in consultation with the government and after the approval of the company's board. An 11 per cent fresh equity would be sold in the IPO while the government would divest 10 per cent of its stake at the IPO price.
The gas price revision will add to the bottomline of the two public sector companies -- Oil and Natural Gas Corporation and Oil India Ltd -- and will also yield additional revenue for the central and state governments.
The firm, which has operations in India through a wholly -owned subsidiary, Hyundai Motor India Ltd, will manufacture the car, which will be smaller than the Santro, at its plant in Chennai.
Oil ministry had previously proposed a 30 per cent hike in price of gas produced by Oil and Natural Gas Corporation and Oil India Ltd to $2.3 per mmBtu but finance ministry wants these rates to be brought on par with RIL, sources in the know of the development said.
Shipping Corporation of India Ltd fixed March 21 record date for interim dividend.
OCL India Ltd fixed February 28 record date to to buy back shares.
ONGC Videsh Ltd, the overseas arm of the state explorer, Reliance, IOC and Oil India Ltd had in April this year come together to consider jointly bidding for a 40 per cent stake in a field in the vast Orinoco heavy crude oil belt. To make up for the loss of Reliance, OVL has opened talks with global energy firms and is even willing to take a smaller role in case a major company joins the consortium.
This central registry will help banks, financial institutions and non-banking finance companies get mortgage details of consumers before issuing loans against property. The personal loan score will provide details on the likelihood of customers becoming 91 days delinquent on a personal or consumer loan over the next 12 months. It will range between 300-900, indicating the levels of default. A home loan repository and a fraud repository will also be launched soon.
Xpro India Ltd started commercial production at its thermoforming unit at Greater NOIDA.
A proposal for extension from the Oil Ministry is pending clearance from Central Vigilance Commission and the Central Bureau of Investigation, which is probing allegations that he favoured Mukesh Ambani-led RIL in lieu of personal benefits.
Hyundai Motor India Ltd on Wednesday launched a new version of its premium compact car i20 priced between Rs 4,52,000 and Rs 7,48,000, while adding two more variants to its existing range.
At the same time there were few complaints about the wrong reporting of credit information to the Credit Information Bureau (India) Ltd, which was taken up by the RBI with the concerned bank for redressal, minister of state for finance Namo Narain Meena told the house in a written reply.
"Advancement in technology and demand for new variety in toys is propelling toy companies to think differently and innovate to introduce new kinds of toys...The toy makers have drawn the connecting link between movie mania and love for toys to introduce toys based on movies," Funskool India Ltd vice president (sales & marketing) R Jeswant told PTI.
The airline, which was formed through a merger of international carrier Air India and domestic carrier Indian Airlines announced in 2007, has accumulated losses of Rs 4,334 crore till March 31, of which fiscal 2008-09 will account for almost Rs 3,000 crore.
Congress vice president Rahul Gandhi attacked the Modi government of forcing everyone into silence at a function to re-launch the National Herald newspaper.
Uniproducts India Ltd plans amalgamation of HP Pelzer India Pvt Ltd with the company.
In a few years there may be 100 Japanese companies in Gujarat, while Chinese firms may commit investments of over Rs 6,000 crore.
India has a huge power demand and needs to replace polluting coal, as source on energy
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
NACIL had submitted a proposal in October 2008 for equity infusion of Rs 1,231 crore (Rs 12.31 billion) and provision of soft loan of Rs 2,750 crore (Rs 27.5 billion), with an interest of approximately 5 per cent payable over 15 years.
Cash-strapped Air India will have to raise Rs 8,165 crore (Rs 81.65 billion) out of its own resources or borrowings to fund its fleet acquisition programme as the Union Budget focused primarily on aviation infrastructure development, giving a total budgetary support of Rs 190 crore (Rs 1.9 billion).
The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) are set to have some serious competition. Reliance Money, controlled by the Anil Dhirubhai Ambani Group, and Financial Technologies India Ltd (FTIL), which operates one of the world's largest exchange networks, are exploring the option of setting up their own equity exchanges.
A special court on Thursday acquitted all accused in the 2G spectrum allocation scam cases. The scam relates to the granting of 2G spectrum licence allocations in 2007-08 which caused, according to a report by the Comptroller and Auditor General of India, a loss of Rs 1.76 lakh crore. Here is a detailed timeline of how the case came to light and how it has progressed over the years:
"We expect the government to exempt our employees from paying tax on housing perquisites. On an average, every year our non-executive workers pay about Rs 144 crore to the government on account of such tax. Exemption will motivate our employees, working and living in difficult conditions," said Coal India Ltd Chairman P S Bhattacharyya.
The Board for Reconstruction of Public Sector Enterprises wants to examine the grave financial problems of Air India, but neither the Civil Aviation Ministry nor the national carrier has responded to the BRPSE offer.
Eight companies including Reliance Gas Ltd, GAIL Gas and the joint venture of Indian Oil and Adani Energy have bid for the rights to retail CNG in seven cities.
Iran had in September 2008 approved the commerciality of the discovery in the Farsi block. The discovery, which was subsequently named Farzad gas field, may hold inplace reserves of up to 21.68 trillion cubic feet (Tcf), of which recoverable reserves may be 12.8 Tcf. The Indian firm want to liquefy the gas and ship it to India in the form of liquefied natural gas.
Stewarts & Lloyds of India Ltd will buy Tata Korf Engineering Services Ltds furnace division.
Two persons were killed in an accident at a LPG pipeline of state-owned gas utility GAIL India Ltd at Suryapet in Telangana.
Nearly three years after RITES, the consultancy arm of Indian Railways, prepared a preliminary project alignment design for the proposed dedicated freight corridor project, the railways are demanding 42 per cent more land for the project than what was previously envisaged.
Uniproducts India Ltd approved the merger of HP Pelzer India Pvt Ltd with the company.
The National Aviation Company of India Ltd, that runs the government's flagship carrier Air India, has formally begun looking for a chief operating officer to steer the airline as part of its restructuring plan.
As it wants to put a sizeable number of shares in the market and also offer them to employees and farmers displaced by its mines.
MCX Stock Exchange on Tuesday said it has received approval from capital markets regulator.
"We have recommended that at least 20 per cent of coal should be sold through e-auction," said Kirit Parikh, member (energy), Planning Commission. CIL currently puts for sale about 10 per cent of its annual production through online bidding. The National Coal Distribution Policy has already recommended increasing this quantum in a bid to ensure better price discovery of the fuel.
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