Reliance Industries Ltd wants the state to chalk out a concrete policy before investing. Mukesh AmbaniMukesh Ambani-led Reliance Group has revived its interest in West Bengal, after a hiatus of nearly three years. After the Mamata Banerjee-led government took charge, Ambani spoke at length with West Bengal commerce and industry minister Partha Chatterjee and discussed [...]
Mumbai:Falling for the second day in a row, the benchmark sensex on Wednesday closed below 18,000 level after losing another 169 points due to sustained selling, mainly in L&T and RIL, on persisting concerns over economic growth amid weak global cues. The BSE 30-share barometer resumed sharply lower on weak Asian trends and remained in [...]
Telecom major Bharti Airtel today said its net profit dipped nearly 28% to Rs 1,215 crore in the quarter ended June 30, 2011. Net profit stood at Rs 1,682 crore in the same period last fiscal, Bharti Airtel said in a statement. Total sales were, however, up by over 38% to Rs 16,983 crore in [...]
In a bid to boost sagging sales of passenger vehicles, Tata Motors has firmed up plans to restructure its local dealership network in the course of this financial year. “There are few corrections that need to be done in this area,” said R Ramakrishnan, vice-president (commercial) passenger vehicles, Tata Motors. “What we are trying to [...]
Riding high on a firming trend overseas, gold futures for delivery in February next year reached a record high of Rs 24,648 per 10 grams today. In addition, strong demand at the domestic spot markets, where the precious metal also touched a record high of Rs 23,690 per 10 grams in yesterday’s trade in the [...]
Mumbai: Bharti Airtel, India’s largest mobile service provider, has walked out of the title sponsorship of Champions League Twenty20 three years before the endorsement deal ends, citing low viewership of the tournament. In 2009, the telco had signed a Rs 150-crore three-year deal, which was extendable by two years, with broadcaster ESPN Star Sports (ESS). [...]
Chennai: Cognizant said on Tuesday that its revenue rose 34.4% to $1.49 billion in the quarter ended June, and in the process displaced Wipro Technologies as India’s No. 3 IT firm in terms of revenue. Wipro reported a revenue of $1.41 billion in the quarter. Cognizant said it is expecting a revenue of $1.57 billion [...]
New Delhi: At least two ministries have raised fears of Chinese goods flooding shelves in retail chains if the doors are opened to foreign players to set up multi-brand stores in the country. The concern has prompted the government to work out a safety valve for the much-awaited FDI in retail to go through. The [...]
Mumbai:The existing home loan customers of mortgage major Housing Development Finance Company (HDFC) should prepare themselves to pay higher EMIs. Citing the rising interest rate scenario in the economy, the company on Tuesday said it has increased the rate of interest on floating rate home loans by 50 basis points (100 basis points=1%). The hike [...]
Strong sales from ACC, Ambuja and UltraTech is likely to push the cement sector back to double-digit growth. Going by the strong sales figures of top companies, industry analysts said the sector may post 11-13 per cent growth in July. The industry posted the lowest growth in FY11 in over a decade at less than [...]