Telecom watchdog sought the regulator's intervention on the price hike by Bharti Airtel, Vodafone Essar and Idea and alleged that the three telcos have formed a cartel and increased local call charges by 20 per cent.
Concerto Software Inc, a contact centre solutions company with a sizeable business in India, has acquired CentreForce Technologies to expand its offerings.
Tehran plans to lift exports by 500,000 barrels per day
In November they had raised $2.19 billion from abroad, according to the Reserve Bank data released on Friday.
India Inc is looking at the public sector to steer its ambitions, as former PSU heads are taken on board to lead the private sector.
Tatas, Essar, Reliance Energy and L&T are among the dozen companies in race to build India's first fully independent private power transmission lines in Gujarat and Maharashtra at an estimated investment of Rs 1,500 crore (Rs 15 billion).
Joining the list of nations that are keen to have the Nano ply on their roads, Cuba today said the world's cheapest car from the house of Tatas has huge potential in the Caribbean nation.
Reliance has shut all of its 1,432 petrol pumps in the country after sales dropped to almost nil as it could not match the subsidised price offered by public sector competition. Public sector currently sells petrol at a loss of Rs 13.97 a litre and diesel at a discount of Rs 20.97 per litre. This revenue loss is made up by the Government through issue of oil bonds. Private firms were not entitled for the subsidy and priced fuel from their pumps at Rs 8-10 a litre higher.
Vodafone has rejected a restructuring call by an activist investor lobby that would have unlocked up to $75 billion to shareholders, saying such business strategies could have prevented it from recent acquisitions such as Hutch-Essar in India.
Leading steel producers Tata Steel and state-owned Steel Authority of India Ltd on Tuesday agreed to hold their prices for 2-3 months after the government's top economic managers spoke out against the rising cost of steel and cement. Essar Steel said it too could look at a similar assurance. Finance Minister P Chidambaram told Parliament that cement and steel producers were acting like a cartel and the govt was looking at legal and administrative measures to deal with them.
The government on Friday cleared British telecom firm Vodafone's application for buying a majority stake in India's fourth-largest mobile operator Hutch-Essar Ltd.
A lot of hype has been generated ahead of the launch of iPhone, which would be available at Rs 31,000 a piece for the 8Gb memory model and Rs 36,100 for 16GB from the stroke of midnight on Thursday. Leading service providers Vodafone-Essar and Bharti Airtel, who have been accepting bookings from customers, have said the response has been extremely good.
In the case, which will begin on Tuesday and last for five days, Indian tax authorities will argue that Vodafone, the UK-based mobile phone group headed by Arun Sarin, is liable for an estimated $2bn in taxes on its $11bn acquisition of local operator, Hutchison Essar, last year.
NMDC pitted against Tatas, Essar on Bailadila deposits.
Markets recovered in late trades, amid firm European cues, led by rebound in financials and gains in IT shares.
To bring clarity, the department clearly defines terms such as promoter and competitor.
A total of 4,452 cases have been disposed at pre-admission stage and 66 have been resolved after adjudication. 260 cases have been ordered for liquidation.
As per TRAI norms, Vodafone and Airtel are close to getting added spectrums, given their growing subscriber rates.
The Hinduja group says it will bid for Italian tyre and real estate major Pirelli's stake in Telecom Italia only if the acquisition gives it management control in Italy's largest telecommunications operator.
The Hinduja Group, which has evinced interest in acquiring India's fourth-largest mobile operator Hutchison Essar, is also considering to buy part of a controlling stake in Telecom Italia, media reports said in London.
Prashant Ruia, Essar Steel Ltd's managing director, said on Tuesday that demand from developing economies will continue to drive the global steel industry in future, with growth in China, Russia and India leading the way.
Five major steel producers including SAIL, Tata Steel and Essar have decided to hold the price line for up to three months after an appeal by Prime Minister Manmohan Singh not to manipulate prices for short-term gains. India has said it will take measures to bring down steel prices, but would first wait to see if producers do it on their own. High steel prices are partly to blame for soaring inflation, which rose to 7.33 per cent for the week ended April 12.
Buoyant stock markets and booming telecom sector appear to have generated some interest among global equity players with Blackstone and Texas Pacific approaching Hutchison to buy stake in its India venture but the move could face hurdles.
India's banks are propping up too many weak producers.
Hutchison Telecom International Ltd is believed to have called a meeting of shareholders on February 15 to seek their approval for the proposed sale of its 67 per cent stake in India's Hutch-Essar.
Vodafone CEO Arun Sarin, who engineered the acquisition of Hutch-Essar in India, has accused unsuccessful rival bidders of trying to derail the deal and sought transparency from Indian regulators in M&A approvals.
Vodafone CEO Arun Sarin on Wednesday discussions with Commerce Minister Kamal Nath, who asked the UK telecom giant to follow best commercial practices in its bid to acquire Hutch-Essar.
Steel companies have reduced flat product prices by Rs 500-1,000 a tonne across categories in keeping with market conditions.
British telecom giant Vodafone's plans to acquire India's fourth-largest mobile operator Hutch-Essar has received mixed reactions from some of its key shareholders.
Hutchison Telecom on Sunday said talks were on with various suitors for sale of its holding in joint venture Hutch-Essar in India and that there was no time-frame for a decision.
The RBI should provide readily accessible summary information on its website about all corporate debt defaulters and the amounts involved.
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Among other scrips, which would be shifted to the trade-to-trade segment include 3i Infotech, Bartronics India, Ramky Infrastructure and Zenith Birla (India) Ltd.
Hutchison Telecom, the Hong Kong- based mobile major, on Tuesday said its first-half profits ended June have risen from the sale of its Indian assets to UK's Vodafone that included a one-time gain of Hong Kong dollars 69.3 billion.
UK telecom giant Vodafone has offloaded its 5.6 per cent direct stake in India's mobile leader Bharti Airtel to promoter Sunil Mittal's group for $1.6 billion, coinciding its acquisition of controlling stake in Hutch-Essar.
A shareholder of Vodafone Group has urged the company to abandon its plans to acquire India's Hutch Essar, saying the British telecom giant could overpay for the deal, British daily The Times reported on Friday.
Bharti Airtel will start talks for "disengagement" from its partner Vodafone once the UK company decides on its future course of action in India.
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