Low-cost carrier Deccan Aviation is considering rationalisation of some of its routes as a cost-cutting measure in the backdrop of a hike in aviation turbine fuel (ATF) prices, a top company official said.
A Vodafone Group insider with more than 25 years in the telco across geographies, he's like the eyes and ears of the multinational in India.
The Mumbai-based company said it was aiming to generate more cash on its balance sheet to buy potential targets. Voltas has Rs 300 crore net cash available on its balance sheet, said M M Miyajiwala, executive vice-president (finance) and CFO, Voltas. "The company will have to satisfy certain technical requirements to enter new geographies that could need partnerships or acquisitions," he said.
Over the past few months, Infosys has been battling allegations by Murthy and other former senior executives of falling corporate governance standards.
The whistleblower, claiming to be an employee working in the finance department, said he was submitting a 'whistleblower complaint' unanimously as the matter stated was 'volatile' and that he feared retaliation on disclosing the identity.
One of the youngest - and most enigmatic - executives in any large company is Aditya Mittal, the 32-year-old chief financial officer of ArcelorMittal, the world's biggest steelmaker.
The board of Satyam will meet for two days from Monday to finalise the twin issues of appointing CEO and CFO and working capital arrangement, and may discuss L&T increasing stake in the company to 12 per cent.
As many as 40 applicants have thrown their hats in the ring for the top job of CEO at scam-tainted Satyam, whose board meeting is scheduled for Thursday to consider the appointment.
There seems to be a business opportunity in every crisis and the same is the case with Satyam, with a "detailed situation analysis" of the case being sold for $499.
India Inc has topped among its Asian counterparts when it comes to the monetary measures taken for retaining the right talent, while doling out highest salary hikes to its finance executives across the region. According to the CFO Asia magazine's latest compensation survey chief financial officers and other finance executives, CFOs as well as the second-tier finance executives in India got the highest pay hikes in Asia in 2007, while ousting Singapore, Hong Kong and China.
Sajjan Jindal-led JSW Group is not planning to cancel the Rs 100 crore (Rs 1 billion) order given to Maytas Infrastructure, run by promoters of fraud-hit Satyam Computers, as it is "happy" with the progress made by the firm on construction of two township projects.
'Industry observers are certain the next attempt will succeed even if they have to browbeat someone into buying as the government has put its might behind it,' predicts Anjuli Bhargava.
The board also appointed K V KKamath as the non-executive chairman of ICICI Bank, a role being performed by his mentor Narayan Vaghul, who is scheduled to step down once his term ends in March. Vaghul has been with the ICICI group for 24 years.
ICICI Bank has reported a decline in its quarterly net profit for the first time since its merger with ICICI.
Such cold-shoulder by banks also indicates a credit freeze that is hard to overcome, unless the government comes out with credit guarantee schemes for loans given by banks. Since that is not happening, and there is no indication of that too, banks are not willing to listen to RBI prodding.
India Inc, while welcoming the Reserve Bank of India's move to cut the key interest rate, expressed doubts on lenders' response to pass on the benefits to customers.
"I welcome private investment in all sectors of the economy. Corporate retailing will not be stopped," the UP chief minister said in an interview.
Among other things, the company is considering monetising the Global Village tech park located off Mysore Road in Bengaluru, for which private equity major Blackstone was said to have shown interest.
It is Aditya Mittal, son of steel tycoon Lakshmi Mittal and CFO of ArcelorMittal, who persuaded his father to accept a shareholding of below 51 per cent in the company post its takeover of European giant Arcelor. Before Arcelor takeover, Mittal family held an 88 per cent stake in Mittal Steel. Aditya, who visited a steel plant first at the age of eight, joined his father in early 1997, after working for less than a year as an investment banker at CSFB.
Is looking to raise Rs 3,000 cr.
Just hours after returning to Mumbai, Ravi Kant, managing director, and C Ramakrishnan, CFO of Tata Motors addressed the press on a conference call. Excerpts from the call.
While Airtel's India wireless operational performance was one of its worst in recent times, Jio surprised the Street by reporting a higher expected operating and net profit.
In an interview to CFO Asia, a publication of The Economist Group, Montek Singh Ahluwalia said the general public was opposed to privatisation of state-owned enterprises although they feel that public sector was inefficient and corrupt.
Air Deccan, which was forced to sell 26 per cent to Kingfisher Airlines chairman Vijay Mallya's UB Holdings to keep its head above water a few months ago, is likely to break even before Kingfisher.
Tata Chemicals has undertaken experiments with biofuel. If these efforts are successful, the company will take up large scale manufacturing of biofuel at its Nanded plant.
However, the reduction in ATF prices will provide some cushion to airlines engaged in a protracted price war have lost control over pricing in one the world's most price sensitive domestic markets.
Publishers of yellow pages (directory) are feeling the blues as a blanket service tax has been levied on space sale for advertising in business directories and trade catalogues.
Mahindra & Mahindra group on Wednesday said it planned to invest Rs 2,000 crore (Rs 20 billion) into its automotive business. The company announced a standalone net profit of Rs 221.10 crore (Rs 2.21 billion) for the fourth quarter ended March 31, a 13.37 per cent decline over the corresponding period last year.
Infosys announced 11 January, 2008 as the date for its Q3 results release
Kingfisher Airlines, promoted by the UB Group, expects to get into the black in December. According to Ravi Nedungadi, president and CFO, UB Group, the airline has been driving in volumes and efficiencies which is likely to be reflected in the revenues this month.
"I expect the Bahujan Samaj Party under my leadership to take charge of governance in India," she said in an interview to Hong Kong-based CFO Asia magazine.
Tata's Vistara has a very strong core team to look into daily operations.
In one of the most fierce and controversial battles for investments, Maharashtra -- specifically, Pune -- beat 17 locations and 6 states, including AP to win over Volkswagen and consolidate its position as India's Detroit.
Murthy said he was anguished by the allegations, tone and tenor of statements made by the Infosys board.
Advertising is always done with the target audience in mind and considering the local culture and milieu, it is not about one size fitting all, says ace ad man Nagesh Alai.
What is it about these Indian-Americans that made India Abroad want to honour them?
Amid stiff global competition from major airport construction companies, a consortium led by Indian developer GMR has bagged an about Rs 11,000-crore (two-billion-euro) project to modernise Istanbul's second airport.
Bharti Airtel on Tuesday welcomed the decision of the directors of Vodafone to abstain from its board meeting, in view of the UK-based telecom major's interest in acquiring rival Hutch-Essar.
This time an anonymous whistleblower made an appeal to market regulator Sebi to probe an agreement made by the tech giant with some of its ex-directors.
Wipro Chairman and CEO Azim H Premji received the highest annual remuneration in the company for the fiscal 2006-07. Premji who also holds 79.58 per cent stake in the company, got an annual remuneration of $721,522.
