The government of India on Tuesday reassured its people that it is working on every possible step to revive the real estate sector. Speaking on the interim budget Finance Minister Pranab Mukherjee said that government was closely monitoring the sector and all necessary measures would be taken. Recently public sectors banks announced package for home [...]
The Managing Director of the leading retail chain of India (Subhiksha) on Wednesday trashed all the speculation of his departure from the company and made clear that he would not escape from his responsibilities. R Subramanian said that he would not leave the company in the lurch and stood by his responsibilities until the process [...]
The stocks at markets showed signs of recovery owing to the declaration of third stimulus package by the government. The cuts in excise and service taxes helped in raising the investors’ sentiments and took stocks north. Among these, cement and auto gained remarkably. However, traded turnover on BSE stood at Rs. 2217 crore; being the [...]
A study based on disclosure done by 467 listed firms showed about 90% of shares were pledged by the promoters from 27 companies. The known names in the list include- Micro Inks., Kirloskar Electric, JP Hydropower and ERA Infra Engineering. Promoters from other 38 companies that includes Parsvnath, Tata Teleservices, Unitech and India Cements Capital [...]
One of the prominent Delhi-based retail chain Vishal Retail would soon be closing some of its stores as it seems more trouble is encircling the company operations. According to sources, Vishal Retail is in default of a loan of Rs 50 crore from Detusche Mutual Fund which was taken for working capital and to carry [...]
The Union Cabinet today came up with the decision to make a hefty increase of 6 percent in the Dearness Allowance provided to government employees. The employees will now get an amount equal to 22 percent of their basic as cost of living allowance from the existing 16 percent. The step has certainly been taken [...]
Facing extreme criticism due to its latest FDI norms, the government on Thursday completely shattered the leeway available in the FDI policy which was allowing the foreign firms to easily cross the threshold and enter into the Indian multi-brand retail sector. But according to the latest guidelines issued yesterday by the Department of Industrial Policy [...]
The Indian Economy grew at a slower pace of 5.3 percent in the third quarter ended on December 2008. The GDP growth dropped 2.3 percent in the December quarter due to the severe economic crisis and demand cuts. Indian economy recorded a growth rate of 7.6 percent in the previous quarter. The third quarter growth [...]
The Indian Rupee hit the lifetime record low of Rs 50.87 per dollar in the yesterday trading and closed the day at Rs 50.46 mark against the US dollar. According to analysts the Indian Rupee is likely to operate at low levels at the month end considering the decrease in the demand from importers and [...]
India’s largest Real Estate developer, DLF moving on with its plan to raise Rs 5000 crore through bond selling has sold bonds worth Rs 720 crore to the insurance companies. The company raised the funds through the issue of 14 % non-convertible debentures with a maturity period of 5 years. The company has sold the [...]