Business News

TATA Power is planning to plans to raise $250 million (Rs 1,170 crore) by issuing foreign currency convertible bonds (FCCBs) to be listed on the Singapore Stock Exchange.

India's premier business management school seems to have endorsed environment friendly and social-inclusive businesses as the future of global business.

Concerned that the Indian Railways' failing fiscal health could upset expansion plans, the Planning Commission has again flagged the issue of setting up of a regulatory authority for it.

It is a well known fact that the real-estate sector is one of the nation's most poorly-regulated sectors.

IDBI Bank plans to launch a follow-on public offer in January to mop up funds to fuel its future capital requirements.

Loss-making state-owned carrier National Aviation Company of India Limited (NACIL) is planning to shift unprofitable Gulf routes operated by erstwhile Indian Airlines and Air India to international low-cost carrier Air India Express.

Setting a new timeline for consolidation, the finance ministry has projected that it will be able to wipe out revenue deficit and rein in fiscal deficit at 3 per cent of the gross domestic product only by 2014-15.

In a big relief to home buyers, State Bank of India (SBI) has decided to keep the interest rates on home loans unchanged for the next five months.

In an unusual trend, the Union government, through the petroleum ministry, has recommended an employee of a rival firm to head the marketing department of GAIL India Ltd, a public sector undertaking.

With the country's organised retail market growing at 15-16 per cent and big players entering the segment, over three lakh pan-India retail outlets have planned to create a common brand in the next few years under the umbrella of the All-India Organisation of Chemists and Druggists (AIOCD).

Stocks of public sector companies shot up by up to 20 per cent on the bourses on Friday after the government announced its stake sale plan in public sector units (PSUs).

Faced with the prospects of incurring huge losses, private sugar mills are pressing the state for concessions in the form of transport subsidy and a rebate in purchase tax before commencing the operations.

The month-and-a-half long stalemate between workers and the management of Rico Auto Industries Ltd in Gurgaon was finally sorted after a 45-hour long meeting that ended on Thursday at midnight after the management agreed to most of their demands.

Wipro Consumer Care & Lighting has signed an agreement with UK's Lornamead group to acquire the Yardley business in Asia, Middle East, Australasia and certain African markets for $45.5 million (about Rs 213 crore).

With winter setting in, egg consumption in Pune has increased to 20 lakh eggs a day with around six lakh eggs a day coming from the Southern markets alone — most notably Hyderabad in Andhra Pradesh and Hospet in Karnataka.

In a move that could spell more trouble for communications & IT minister A Raja, investigating agency CBI has begun inquiring into what might have led the department of telecommunications to disregard then law minister HR Bhardwaj's opinion on the procedure for granting new telecom licences and, instead, directly approach then solicitor-general Goolam Vahanvati for his views.

More than 28 years after she lent Rs 10,000 to her husband to start what is now the multi-billion dollar Indian IT giant — Infosys Technologies Ltd — Sudha Murty, wife of Infosys founder and chairman N R Narayana Murthy, has sold Rs 430 crore worth of Infosys shares to finance her husband's new Venture Capital Fund.

National Dairy Development Board to support Rs 40-lakh project Come next summer and Puneites will be able to savour the delights of a new flavour of ice cream.

Led by bruised telecom stocks, Dalal Street climbed nearly 1 per cent on Thursday as bargain hunters stepped in toward the close of day's trade after the market fell more than 2 per cent.