Industry News

India deserves an upgrade in sovereign rating: Chidambaram

Finance minister P Chidambaram on Monday said that India deserved an upgrade in credit ratings and sovereign outlook in view of improvement in macro-economic situation. “We deserve a ratings and outlo......read more

Business

Coal India net profit in quarter soars 90% on dividend income

Riding on dividend income paid by its subsidiaries, Coal India Ltd (CIL) today reported nearly 90 per cent jump in standalone net profit at Rs 2,320.61 crore for the fourth quarter ended March 31. Th......read more

Stock Markets

Govt proposes stronger powers for Sebi to tackle ponzi schemes, fraud

With an aim to provide stronger powers to Sebi for taking on perpetrators of ponzi schemes and other fraudulent activities, the government has proposed to arm the market watchdog with direct powers to......read more

Spot-Fixing

Sreesanth spot-fixing scandal not to impact IPL brand: Advertisers

With fresh details of alleged spot-fixing by Rajasthan Royal players Sreesanth, Ajit Chandila and Ankeet Chavan hitting headlines almost every day, advertisers and sponsors of the Indian Premier Leagu......read more

Business

Hotel Leelaventure net loss in quarter soars to Rs 142 cr

Hotel Leelaventure today reported a net loss of Rs 142.17 crore for the fourth quarter ended March 31, 2013 mainly on account of finance costs. It had posted a net profit of Rs 209.66 crore for the co......read more

Gas Price

Oil Ministry proposes gas price hike to $6.7

Oil Ministry has moved a Cabinet note to raise the price of natural gas produced by state-owned ONGC and OIL as well as private firms like Reliance Industries to USD 6.7, less than USD 8-8.5 hike prev......read more

Business

Liquor rates hiked by Delhi govt as much as 11%

Tipplers will have to shell out more to buy liquor in the capital with the Delhi Government today approving a hike in alcohol rates as part of new excise policy. As per the government decision, the r......read more

Adani Enterprises

Adani Enterprises Q4 net profit up 53% at Rs 473.78 cr

Adani Enterprises today reported 53 per cent growth in consolidated net profit at Rs 473.78 crore for the fourth quarter ended March 31, largely due to some one-time gains made by the company. The A......read more

Technology

Yahoo! says will acquire Tumblr for $1.1 bn, eyes billion visitors mark

Internet firm Yahoo! today said it will acquire blogging site Tumblr for USD 1.1 billion in an all cash deal, a move which is expected to help it regain its glory and help increase the number of visit......read more

Gold Imports

Gold jewellers face shortage of stocks, premiums still high

Gold jewellers in India faced shortage of the yellow metal ahead of the key wedding season, keeping premiums supported at higher levels, despite meeting part of the demand through left over consignmen......read more

StanChart

Morgan Stanley private banking arm to be acquired by Standard Chartered

Standard Chartered India today said it has agreed to acquire the private wealth management business of Morgan Stanley India for an undisclosed amount, subject to regulatory approvals. "Standard Chart......read more

India Cements

India Cements Q4 net profit down 60%

India Cements today posted around 60 per cent dip in net profit at Rs 26.28 crore for its fourth quarter ended March 31 on higher expenses towards fuel and freights. The firm led by N Srinivasan, who......read more

Stock Markets

BSE Sensex falls from 30-mth high, Bharti Airtel, ONGC shares hit

Falling for first time in five sessions, BSE benchmark Sensex today retreated from 30-month high levels by losing 62 points to close at 20,223.98 on profit booking in blue-chips like Bharti Airtel, ON......read more

FDI Retail

Global retailers can open warehouses in states opposing FDI

Global retailers like Walmart and Tesco can set up warehouses, cold storages and source products from SMEs in states which have not permitted FDI in the multi-brand retail sector, a senior official s......read more