India Business News Blog Posts

  • Basmati rice exports likely to exceed 2-mn tonnes
    on Jan 1, 1970
    Leading basmati rice exporter, LT Foods, today said that exports of the commodity was likely to exceed two-mn tonnes this fiscal (FY 11), up from last year’s 1.7-mn tonnes. “The country’s basmati rice exports is likely to be over t...
  • Vodafone ups Essar’s put option value
    on Jan 1, 1970
    Makes an adjustment of Rs 3,400 cr in fair market value to account for payment made for 3G. British telecom major Vodafone on Friday said it had made an adjustment to the tune of Rs 3,400 crore in its fair market value to account for the payment it...
  • Google’s Hong Kong question page blocked in China
    on Jan 1, 1970
    A question-and-answer page on Google Hong Kong’s website became inaccessible to some mainland Chinese users on Tuesday, underscoring Beijing’s sensitivity about the Internet. The Chinese government, obsessed with maintaining social stabil...
  • Food inflation falls, even as fuel prices rise
    on Jan 1, 1970
    The rate of wholesale food inflation fell for the second consecutive week to 12.63 per cent for the week ended June 26, primarily due to decline in prices of fruits ,vegetables and pulses. However, fuel inflation surged to 18.02 per cent during th...
  • Court orders Cadila to pay Rs50,000 in costs to Diat Foods in `Sugarfree’ case
    on Jan 1, 1970
    The Bombay High Court has dismissed an application filed by Cadila Healthcare seeking to restraint Diat Foods (India) Ltd from using the words `Sugarfree’ on its cookies and instead ordered Cadila to pay Rs50,000 as costs to Diet Foods, to c...
  • Delhi top destination for end users looking to purchase flats
    on Jan 1, 1970
    Delhi is the most popular place to buy a property, according to a survey. The report reveals that 34% of those surveyed want to purchase a flat in Delhi, followed by 28% plugging for Mumbai and 11% each opting for Bangalore and Hyderabad. The survey...
  • Tata Motors may shore up DVR via $550mn foreign issue
    on Jan 1, 1970
    Tata Motors, India’s largest truck and bus maker, will consider a $550-million sponsored overseas issue for its shares with differential voting rights (DVR) after some investors expressed discomfort with the steep discount they fetch in relation to...
  • Reliance Comm adds 2.8 mln mobile customers in June
    on Jan 1, 1970
    No 2 Indian telecoms firm Reliance Communications said on Monday it added 2.8 million mobile customers in June, taking its total number of customers to more than 110 million India times...
  • Bharti adds 3 mn mobile users in June
    on Jan 1, 1970
    Bharti Airtel, India’s top mobile operator, signed up 3 million mobile subscribers in June, taking its total to 136.6 million subscribers, data from an industry body showed on Friday. Vodafone Essar, the country’s third-largest mobile pho...
  • Nine months on, Sahara IPO still stuck with Sebi
    on Jan 1, 1970
    An initial share sale from the real estate arm of the Lucknow-based Sahara group has been delayed because of complaints from investors in some of its schemes. The complaints, said to be more than 100, have resulted in the Securities and Exchange Boar...
  • Reliance, Essar looking to buy BP’s retail outlets in East Africa: report
    on Jan 1, 1970
    Indian energy majors Reliance Industries Ltd and Essar Oil Ltd are among several companies in the race to acquire the East African fuel marketing outlets of crisis-hit British energy giant BP. BP is reported to be offloading its retail outlets in...
  • Rel Life plans to double market share in 3 years
    on Jan 1, 1970
    Reliance Life Insurance Company (RLIC) plans to double its market share in the entire life insurance business to 10 per cent from the current 5.5 per cent in the next three years, RLIC President and Executive Director Malay Ghosh said here today.
  • Cement prices to remain under pressure, feels Grasim
    on Jan 1, 1970
    A senior official of Aditya Birla group-controlled Grasim Ltd said on Saturday that cement prices will remain under pressure over the next six to eight quarters due to oversupply. “Cement prices are expected to remain under pressure due to a...
  • Etisalat close to buying 26 pct in Reliance Comm
    on Jan 1, 1970
    Emirates Telecommunications (Etisalat) is close to buying 26 per cent in telecoms Reliance Communications, the Financial Times said on Monday, sending Reliance shares up nearly 4 per cent. Citing people familiar with the negotiations, the newspaper...
  • J&J to buy stroke specialist Micrus Endovascular for $480 million
    on Jan 1, 1970
    Johnson & Johnson (J&J) has entered into an agreement to buy stroke treatment specialist Micrus Endovascular Corp. (Mend) for $480 million, adding stroke-treatment device offerings to its wide breadth of medical products San Jose, California-...
  • Glaxo Sees $2.4 Bn Charge, Avandia Mostly Settled
    on Jan 1, 1970
    GlaxoSmithKline expects to record a legal charge of 1.57 billion pounds ($2.4 billion) for the second quarter after settling the “substantial majority” of claims relating to its controversial diabetes pill Avandia. The British drugmak...
  • Govt okays 18 FDI proposals
    on Jan 1, 1970
    The government on Friday approved 18 foreign investment proposals worth Rs 2,245.32 crore, with the major inflow being accounted for by Transcend Infrastructure for setting up communication and broadcasting towers business. Transcend Infrastructure (...
  • Natural gas business seen future growth trigger for GAIL
    on Jan 1, 1970
    Unlike its larger peer in the oil E&P industry, GAIL was able to shrug off the heavy subsidy burden in the June ’10 quarter and post a handsome profit growth, mainly due to higher volumes and improved margins across all its segments. The result...
  • Wait for new terminal at IGI Airport gets longer
    on Jan 1, 1970
    The wait for the new terminal at IGI Airport just got longer. Officials said while infrastructure was ready, there were some ‘‘ confidence issues’ ’ because of which July 14 and 15, initially dates for the commencement of international operat...
  • 12.29 mn new GSM subscribers added in June: COAI
    on Jan 1, 1970
    GSM telecom operators added 12.29 million new subscribers in the month of June, taking the all-India GSM cellular subscriber base to 456.58 million, according to cellular operators’ association COAI. Bharti Airtel, the number one GSM operator,...
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