Murugappa Group has launched a bicycle worth Rs.2 Lakh. The premium cycle market of the nation has been expanding at rate of 25percent on yearly basis. This is because of the ‘environment-friendly’ vehicle climbing up the preference ladder of people owing to the recreational purposes. There will be service centers set up for the bicycles [...]
Moody’s has downgraded its credit outlook on Indian Banking system from stable to negative. This provides enough evidence for gauging the aftermath of the global economic tremors. Together with high delinquency rates of Loans, this reflects the murkiness in the assets of banks. The de-leveraging process that has been taking place since October’08 has caused [...]
Nearly 85 employees of Rolta who either left or resigned find themselves burdened with the loan payments. The amount was taken as fee for a training session. Out of these, 50 were asked to move out of the company owing to the performance issues and 35 other resigned. Some of the former employees said that [...]
As inflation is heading towards zero percent fast, it is spreading fears of deflation creeping into the economy. Deflation occurs in every economy if the state of ‘negative inflation’ persists for long time. R K Bansal, the CFO (Chief Financial Officer) at IDBI Bank, however said that deflation is less likely to affect economy as [...]
MCX, the nation’s largest commodity bourse might ask the regulator to revive IPO the route. This is believed to be the effect of increasing pressure from Citigroup and Fidelity who wished to exit after MCX’s listing. Also, the recent rallies on stock exchanges have pumped in enthusiasm in the FTIL and MCX management. When clarifications [...]
The work at Bhatinda Refinery in Punjab might get halted due to the taking back of fiscal incentives by the government. In this regard, Mr. LN Mittal has asked Prime Minister Manmohan Singh, in written to help out in the issue as it has caused the fate of nine-million tonne a year capacity plant in [...]
West Bengal has decided to promote organic farming in the state. In its attempt to do organic cultivation, the government will be developing one bio-village in all of the 341 blocks of the state in the coming two years. Nearly 75 such villages have already been constructed throughout the state. Another 64 villages are to [...]
Indian ADRs saw an increase of $10bn in their market capitalisation value. Among the companies to register growth, Wipro accounted for one-fourth of the total gain. American markets saw betterment in the situation due to improving economic data and US government’s decision to buy toxic assets worth $1trillion via public-private partnership. After Wipro that gained [...]
Ranbaxy Laboratories, the leading drug manufacturer of the country today reported a net loss of Rs 1004.8 crore for the year 2008 whereas it posted a net profit of Rs 617.7 crore in 2007. Despite losses, the net income of the company moved up by 9.85 percent to Rs 4681.7 crore in 2008 as against [...]
Reliance Industries Ltd. (RIL), has one more time stopped the production of crude oil at its KG-D6 block to hook up more oil wells with a view to raise the production level to 40000 barrels per day. RIL shut down the crude oil production on March 22 for a period of 45 days at the [...]