With IT companies reporting appropriate results in the third quarter, Wipro Technologies- the third largest software exporter of India, today announced its third quarter results with a net profit of Rs 1003.9 crore. The company posted a net profit of Rs 854 crore in the corresponding quarter last year. The total income of the company [...]
With the government mulling over its third economy booster, Montek Singh Ahluwalia- Chairman of Planning Commission said that the third stimulus package will not have any tax cuts to raise the demand level of the economy. After announcing the second fiscal package the government had ruled out further deficit financing till June 2009 before a [...]
With a series of good Q3 results coming up from different sectors, it is now the turn of Indian Telecom Major Bharti Airtel which posted a net profit of Rs 1976.41 crore for the third quarter ended on December 31, 2008. The company experienced a growth rate of 15 percent in net profits from quarter-to-quarter [...]
While facing serious pressures from the villagers and farmers, the Gujarat Government has approached Gujarat High Court yesterday and filed an affidavit stating that the land provided to Tata Motors to set up the plant for the People’s Car Nano, was acquired in August 1911 after paying suitable compensation to the land owners. The government [...]
Securities and Exchange Board of India (SEBI)- the stock market regulator with a view to bring some transparency in the system has made it compulsory for the promoters to disclose all the share details currently pledged by them in their listed companies or firms. Two types of disclosures has been mandated by SEBI, one is [...]
Kumarmanglam Birla, with a view that market is not only the single mode which offers lucrative investment opportunities, has come up with a Private Equity Arm. He believes that despite of the current situation of the financial world, money has to be kept rolling. The Private Equity Arm of Birla Group is expected to raise [...]
With Satyam’s Chairman Ramalinga Raju filing a bail plea with the court and Raju’s lawyer is arguing against the CID custody for him, a new dimension is added to Satyam Saga. The public prosecutor has come up claiming that Satyam holds a employee strength of 40,000 employees and argued that Rs 20 crore was drain [...]
In an attempt to structure a ‘reviving strategy’ for Satyam, the newly framed Board is searching for an investor. Among the interested ones include Deutsche Bank, JP Morgan, L&T Infotech and Tech Mahindra. L&T Infotech has offered about $200 million for the deal. The company finds Satyam an attractive target as the former can deal [...]
As informed by a Finance Ministry official, Non-Banking Finance Companies (NBFCs) and Asset Financing Companies (AFC) may get a credit line of Rs.5000 crore. As part of second stimulus package, decision to provide assistance to NBFCs so as to make them more able to lend for buying of commercial vehicles was taken. This is through [...]
An investigation into the role played by some bear operators in pulling shares down abruptly is being carried out, on orders from SEBI (Securities and Exchange Board of India). This is in wake of the requests from a number of companies, which faced nose-diving of values in their shares. As per the market participants, the [...]