After playing along with other players, Tata Teleservices has suddenly changed the game by offering a fixed call rate plan. What is the reason for this sudden move, which could affect the revenues of all players, including Tata?
E.A.S.Sarma’s appeal to the Finance Ministry to avoid public anger and work out a relief package for the industries that have been hit by the global financial crisis. Here is the latest open letter to DEA by E.A.S.Sarma (Former Secretary to GOI)
In another hard hitting letter, former Revenue Secretary EAS Sarma has drawn attention to an investment by M/S Lakeside Investment Ltd., which may be an affiliate of the Ramalinga Raju family of Satyam Computers in the Gangavaram Port at Vizag.
A set of six B-school cases has recently become available from Harvard Business School (HBS). The cases, written by Professors Srikant Datar and DavidGarvin together with Carin-Isabel Knoop (4 cases) and James Webber (the remaining 2 cases), are on HBSitself, Stanford, Chicago, Yale, INSEAD and the Centre for Creative Leadership (a reputed specialist institution engaged in "business education")
Users of Facebook, MySpace, Twitter and other social networking sites are under threat from fraudsters. So, double check what sites you are visiting and don't reveal personal or sensitive information on the Internet.
Time magazine in 2009 placed Nandan Nilekani, in its list of ‘World’s most influential people’. The question is can he do justice to the job handed over to him, since dealing with babus and ministers is certainly not a cake walk.
The market regulator said it was necessary to put in place a moratorium before a person can be considered fit and proper again. This applies to Jermyn Capital after Dharmesh Doshi, a close associate of Ketan Parekh, severed his ties from the company only on 30th November 2008.
ICRA, an Associate of Moody’s Investors Service, said it the Union Budget for 2009-10 is expected to provide a thrust to spending in the infrastructure as well as social sectors, and selectively rationalise taxes, while at the same time ensuring that the fiscal deficit does not slip significantly below the level indicated in the Interim Budget.
Indian Railway, the world's largest rail service, earns 92 paise of every rupee from passengers while spending 36 paise on its 1.4 million employees and just 3 paise on development. Does this means there is no real hope for a better rail service?
The delicate and fragile Mumbai Skywalks, the ambitious project of MMRDA costs more than the newly inaugurated Bandra Worli Sea Link, on a per square meter basis. Is it an attempt to rob taxpayer’s money?
The battle for buying Great Offshore, the first of its kind in Indian ship building industry, is becoming interesting day by day. After Bharati’s increased offer, it would be interesting to see if ABG matches the same or makes a higher offer.
In a move to turn around the cash strapped Air India, the government is trying to get former top bosses of global carriers like Lufthansa and Singapore Airlines, on the board which is likely to be headed by Ratan Tata.
Nomura, which bought Lehman Brother's India operations, last year, had more than 100 meetings with LIC before finalising the investment. This shows how serious the Japanese can get when it comes to pure business.
For the first time, after the privatisation of power distribution, consumers in Mumbai will be allowed to choose their electricity supplier. Many of the consumers desperately want to shift to Tata Power from Reliance Infrastructure as the ADA group company has been hiking power tariffs, since last three years.
Following strong protests from consumers and political parties, MERC has stayed its own order. The regulator is also trying to come out with a uniform tariff plan for Mumbai, against its own order issued on 15th June 2009.
The NSE’s Rs1.2 billion acquisition of a new office space at Kurla has been in the news since 14th May, but we find that there is still a lot of confusion about details. The exchange refuses to clarify.
TCS, India’s largest software company, reported a better than expected first quarter net profit but said it will remain watchful of a weak global environment while not ruling out shocks and surprises along the way.
They say, “Subah ka bhula sham ko laut aaya to use bhula nahin kehte.” Is Bajaj Auto’s re-entry into volume driven 100cc segment an effort to correct its mistake or the dwindling sales forced it to renew its focus?
After fertilizer secretary Atul Chaturvedi’s comment that any family settlement would not over-ride the sovereign right of government to formulate policies aimed at larger public interest, the government also wants the pact to be declared ‘null’ and ‘void’?
The fight between Ambani brothers couldn’t get murkier. Both brothers do have all kind of support, they want, be it political, financial and other. Yet, the younger brother allegedly wants a level playing field.
Most of the major central banks around the world have by and large implemented the rate cuts and are expected to hold their decisions for few months, before going in for any revision. Will RBI follow the same route?
Watch out! The next time you buy your baby a cough syrup or get yourself any medication, make sure to get a proper bill else you could fall prey to the multi-billion clandestine business of spurious, misbranded and adulterated drugs.
Reliance Industries' total revenues also fell 22.6% with the company attributing the downfall to decrease in prices. The downward trend in the refining margins for the company is likely to continue on account of reduction in conversion margins and crack margins during the quarter
The ongoing spat between the Ambani brothers is getting murkier and if one were to believe what the additional solicitor general of India said, then the knock-on effect could possibly be quite unpleasant.
Bhaskar Prabhu, convenor of Mahiti Adhikar Manch, says the Right to Information movement must start from the home, through discussion and financial planning with all family members. He was addressing a Moneylife Foundation workshop on using the RTI Act effectively
From 1st August, mutual fund investors need not pay entry load for their new purchases. With the primary revenue stream from entry loads removed, a number of intermediaries are evolving new strategies to stay in business.
The renewed talks between Bharti Airtel and MTN are taking its own sweet course and time. If extension to the exclusive talk period is of any indication then the structure and terms of the potential transactions are likely to be different from what was proposed before.
Weak monsoons in India have begun to worry economists and the policy makers, who fear it may possibly drag down the country’s resurgent economic growth. According to rating agency CRISIL, laggard monsoon is likely to pose a huge challenge for the agriculture sector
As the dirty Mexican pig influenza ‘Swine flu’ spreads with dangers of throwing life out of gear globally, a mass panic over the flu has begun to grip the country, ironically when almost 60% of the patients diagnosed with it have been discharged from hospitals after treatment.
Lower demand and financial pressure were the main reasons for decline in mobile handset sales. Despite this, the smartphone sales have gone up, surprising everyone. Is this the warning for end of low-cost mobiles?
India, the outsourcing, especially the call centre hub of the world, remains miles behind when it comes to domestic consumers. More than half of the customers discontinued their services after a 'bad' call centre experience.
Paint, once it’s on your walls, furniture and floors, releases gasses for years. We all want our homes to be free of cancer-causing toxins, especially when it comes to the decor we choose. These low-level emissions contain toxins called VOCs or volatile organic compounds. Here is an eye-opener.
First there was the rumour about Dell developing a handheld gaming console. Now it has become clear, that it was not handheld gaming device, but was all about the computer manufacturer entering mobile market.
All accounts of multi-level marketing (MLM) firms, which collect deposits from customers promising high return, would come under the watchful eyes of the central bank. Moneylife reported the issue under the title “Ponzi Scheme: Is RBI Passing the Buck?”
According to informed sources, Ashish Chauhan would join BSE only if the exchange buys Marketplace Technologies. However, Chauhan said this company does not belong to him. What is the mystery behind this for which nobody wants to speak openly?
Many a time when you rush to withdraw cash from nearest outlet, it says ATM out of order or the security guard tells you, "No cash in the machine". Hope the new directive from RBI will correct this problem.
Nano—the much publicised Rs1 lakh car has hit a roadblock as large number of people who had booked the car couple of months back are now seen pulling out, thanks to the protracted delays in delivering the vehicle, coupled with high EMIs.
After keeping its desire under wraps for two years, ICICI Bank is yet again looking to unlock values in its units—ICICI Prudential Life Insurance, ICICI Lombard General Insurance, ICICI Securities and ICICI Home Finance.
As India dithers over a policy on 3G mobile telephony, US-based Motorola wants to test the next level (4G) that could pour cold water on the government's plan to raise Rs350 billion from selling radio frequency for the existing version.
Almost all elements which usually make an epic fight most riveting to watch, are present in the long-playing battle between Ambani versus Ambani. Even the Indian government was forced to urge the warring brothers to show "restraint" ahead of a Supreme Court hearing on 1st September.
First it was Dell, the famous computer maker entering mobile handsets market and now the world’s top mobile maker Nokia wants to get into the netbook markets in order to become a mobile solutions company.
During summer, there were reports that Indian companies suffered a huge loss of about Rs432.1 billion during the year to ended March 2009. We all are spending even more amount on just back-up equipments.
The Anil Dhirubhai Ambani group company has seen its average revenue per share falling by 6% and minutes of usage declined to Rs365 per month, during the first quarter. Is this the reason, why the company wants to target rural market with more and more value added services?
Nokia's "Money" is a new mobile financial service enables financial management and payments from a mobile phone. Mobile payments will be the next step for delivering financial services to hundreds of millions of people, both urban and rural, who are underserved by existing payment means, especially in emerging economies.
Tata Motors, the country's largest vehicles maker, is at the bottom in customer satisfaction ranking, which is ruled by companies with foreign origins or links. Out of the total 11 carmakers, another Indian brand M&M was ranked at fourth place.
Uttam Galva steel’s partnership with LN Mittal, will not only mark the global steel magnate’s re-entry into India (after he split with his brothers Pramod and Vinod), but is apparently part of a larger India plan that includes a 2 million tonne Hot Rolled Coil (HRC) project at Goa, where Mittal will be the majority shareholder.
The global economic storm may be abating, but airlines have not yet found safe harbour. Conserving cash, careful capacity management and cutting costs are the keys to survival for the airline industry, feels IATA
It’s no secret that the insurance industry has been patiently bearing underwriting losses for a long period. Delayed break-even and expense overruns are just some of the headaches faced by insurance players. At the recently held CII Insurance Summit, industry experts discussed some of these issues at length
CIBIL Location Plus will provide comprehensive information like customer identification details and contact addresses along with the reported dates and all the customer contact numbers to member banks.
Wholesale prices of select edible oils continued to slide for the second week in the national capital on adequate stocks following increased arrivals amid reports state-run STC to import RBD Palmolein to improve supplies.
Aggrieved investor files PIL in Andhra Pradesh High Court asking for SEBI to be directed to publish the committee report that has been allegedly suppressed by the market regulator to keep its current chairman away from controversy
Mobile banking in India is still in its infancy, but gaining in popularity. However, the primary question for any consumer remains security of the transactions. Moneylife gives you some basic precautions for safe transactions
Leading banks in the country are going all out to capture the festive spirit by substantially lowering home and auto loan rates. Customers will be cheering, but will banks be able to sustain this generosity, given the high cost of funds?
The recent announcement by the Department of Telecommunications (DoT) banning mobile handsets without IMEI numbers from 1st December is not surprising. But the real question is, will the directive be effective to counter the menace of Chinese mobiles?
Earlier in September, we had mentioned that the new plans from Tata Teleservices have a potential to start an immediate tariff war. Reliance Communications is another player to succumb to the tariff plan pressures after Bharti Airtel
The low interest rate options on home loans have often ended up confusing rather than enlightening the consumer. The low home loan interest rates introduced by SBI starting this year are likely to shoot up after the festive season in November
The austerity move adopted by the babus got a new dimension when corporate affairs minister Salman Khurshid pointed out that even private sector companies should refrain from doling out obscene salaries. But Mr Khurshid should also pay attention to the quasi-government companies, especially the National Stock Exchange (NSE).
The Companies Act, 1956, requires companies to disclose remuneration details of employees earning more than a stipulated amount. Some companies are instead taking the easy way out, falling back on technicalities in the said Act to withhold such disclosures
In an attempt to test the waters before launching his own TV channel, ace Bollywood film maker Yash Chopra has forged an alliance with Sony TV to produce a mix of exclusive fiction and non-fiction serials
Last month, Anil Ambani had charged that Mukesh Ambani was trying to make Rs50,000 crore super profits crore from gas. Now Mukesh Ambani has accused his brother of attempting to make a profit of Rs3,50,000 crore over 17 years. The actual figure is a fraction of this
Consumers across India are increasingly perturbed as they are unable to abundantly butter their toast, thanks to the unprecedented shortage of butter for the past two months fuelled by unrestrained exports to foreign countries
The waiting period for Honda Activa has gone up by more than two months due to a labour strike. That has given others like Scooty Pep, Passion Pro and Axis a chance to race ahead during the festive season
European banking and financial group BNP Paribas’ Indian unit BNP Paribas Wealth Management is ready for competition as well as acquisitions, says its country head Sharad Sharma, in an interview with Yogesh Sapkale
An expert committee report looking into the shortcomings of the Special Frauds Investigations Office (SFIO) submitted in 2006 still lies unpublished. We take a deeper look at some of the recommendations made by the committee.
In an exclusive interview with Moneylife, Vetri Subramaniam, Equity Head, Religare AMC, gives his perspective on the current market rally and where the markets are headed. We present to you the first part in a three-part series of the interview.
In an exclusive interview with Moneylife, Nilesh Shah, deputy managing director, ICICI Prudential AMC, gives his perspective on the current market rally and where the markets are headed. Moneylife presents the first in a three-part series of the interview.
Gammon Infrastructure is exploring various other options to raise funds to finance its infrastructure projects, ongoing SPVs and future opportunities. The company thinks current market prices are too low
Buddhi Vikram, a PhD student, is in a US prison for allegedly sending threatening mail to the then President George Bush. His IIT alumni association has also failed to take up his case with US authorities
In an exclusive interview with Moneylife, Nilesh Shah, deputy managing director, ICICI Prudential AMC, gives his perspective on the current market rally and where the markets are headed. Moneylife presents the final part in a three-part series of the interview.
In an exclusive interview with Moneylife, Nilesh Shah, deputy managing director, ICICI Prudential AMC, gives his perspective on the current market rally and where the markets are headed. Moneylife presents the second in a three-part series of the interview.
In an exclusive interview with Moneylife, Nilesh Shah, deputy managing director, ICICI Prudential AMC, gives his perspective on the current market rally and where the markets are headed. Moneylife presents the first in a three-part series of the interview.
With a total committed capacity expansion of Rs100 billion, Gammon Infrastructure Projects Ltd (GIPL) promises great action across various sectors in the near future. Moneylife speaks to GIPL’s managing director Parvez Umrigar.
Nokia has been struggling to gain a foothold in the high-end phone market that is now ruled by Apple's iPhone. Is this Nokia's last-ditch effort to derail Apple's future models or it is just trying to cash in on the iPhone's success?
While the Indian Railways continue to collide killing several people, the ministry is still mulling over the implementation of an indigenous anti-collision technology, patented by the government itself!
IN Bose, general manager, quality and safety, GE Shipping who also represents India at the International Maritime Organisation talks to Amritha Pillay of Moneylife about initiatives taken by the industry to cut emission and fuel consumption
The absence of a single point database for verification of security interests created by banks and financial institutions accentuates the legal risk in security interest creation, feels the RBI deputy governor
SEBI’s discussion paper based on the recommendations of its secondary market advisory committee is suggesting some standard clauses as well as dos and don’ts in the structure and format of PoAs By Sucheta Dalal
Inventors, engineers and crackpots have been promising flying cars since the 1920s. They have all been beaten to the punch by Terrafugia, which has already received 49 orders for a $195,000 plane it will not start delivering until 2011
The ratings agency says that the RBI's move for higher provisioning coverage norms is likely to enhance the soundness of individual banks and correctly anticipates a rise in credit losses in the future
Under severe pressure arising from the tariff war, many mobile operators are trying to push more and more value-added services (VASs) by using their so-called 'power' gained from a huge subscriber base
Extension in market trading hours to impact reconciliation of transactions; computation and dissemination of NAV-related information likely to get delayed; delay in processing of redemption requests also likely
Though private labels are increasingly gaining a strong foothold in the organised retail segment, FMCG companies can avoid this competition by investing in innovation and product differentiation, a survey has said
The Indian government is working on a model real estate regulation bill to provide guidelines to facilitate growth and promotion of a healthy, transparent, efficient and competitive real estate sector in the country
With lacklustre demand for commercial vessels, Indian shipbuilders are eying orders from the defence sector. But do they have the necessary infrastructure and technical capabilities to handle these orders?
HomeShop18, India’s first 24-hour home shopping channel, has announced that it has raised $23.5 million or about Rs109 crore as growth capital to fund exceptional growth and rapid expansion of its business
A year after the deadly terrorist carnage of 26 November 2008, Mumbai’s landmark icons which were bruised and battered by the brutal attacks have not let the aftermath kill their never-say-die attitude
Indiabulls Financial lent Rs225 crore to Dalmia, after he pledged his shares in GTL and GHCL along with some property, together worth about Rs250 crore. Indiabulls has filed a complaint of cheating against Dalmia.
Railway minister Mamata Banerjee’s action to come out with a white paper has come in the wake of her assertion that 'unrealistically high targets' had been set for revenues in the interim budget by her predecessor, Lalu Prasad Yadav
Union Bank's Zaveri Bazaar branch in Mumbai had accounts of Balaji Bullion Bazaar and Balaji Bullion Corp, related with Madhu Koda, where there were cash transactions worth crores which were not reported to the Financial Intelligence Unit
Aiming to enhance the distribution network for mutual funds, SEBI has allowed mutual fund schemes to be routed through stock exchange brokers. Are brokers equipped to handle an entirely different business?
Hathway Cable & Datacom, a multi-system operator, has filed a draft red herring prospectus for its IPO. Akshay Raheja, non-executive director, spoke to Pallabika Ganguly of Moneylife about his investment plans and growth strategies for the company.
While the franchisee model in power supply has helped to significantly reduce losses, there is room for improvement in areas like arrears recovery, bidding process and franchisee monitoring, says an NGO report
In the third part of his exclusive interview with Moneylife, Govind Shrikhande, president and CEO, Shopper’s Stop, explains to Pallabika Ganguly about how his company handles staffing issues and his strategy for category management
The notice is said to have been issued following a probe into charges of insider-trading in securities of group company RPL. SEBI is believed to have begun the probe in early 2008, after the issue was raised in Parliament.
ONGC, with a cash surplus of about Rs18,000 crore, is losing around Rs300 crore in interest revenues annually after it was forced to discontinue the practice of calling for competitive rates for parking its cash.
In this strategic alliance between Aegis and Essar to sell each other’s fuel products through their retail outlets, bulk of the investments for adding such facilities on both sides will be undertaken by Aegis
Major companies in build-operate-transfer (BOT) road projects believe the March 2010 target could be difficult to meet and the sector could be plagued by problems like late bidding for projects and hitches in land acquisition
According to a survey, mobile VAS, mobile broadband and telecom software companies, as well as companies providing services to telecom companies, are among the favourite sectors for PE & VC investors within the industry
SEBI’s recent move to allow trading in mutual fund units through stock exchanges will benefit brokers as they can charge commissions from both buyers and sellers; but it may put small distributors, who are already affected by the ban on entry load, out of business.
The fiasco of CAT 2009, the qualifying test for India's best B-schools, has left the Indian Institutes of Management red-faced due to the poor planning and preparation that the whole process has exposed
The fiasco of CAT 2009, the qualifying test for India's best B-schools, has left the Indian Institutes of Management red-faced due to the poor planning and preparation that the whole process has exposed
Defamation cases, threatening calls, late-night work and accusations of being against power utility Reliance Infrastructure. Sandeep Ohri, an ordinary citizen, went through all this—and more—to ensure that the electricity distribution monopoly in Mumbai was broken... with lots of support from many activists and NGOs.
SEBI's board meeting would ensure that with three whole-time members reporting to the chairman or the finance ministry and outside directors who are subject to their regulation, the NSDL issue will be buried
Most people are not aware of the right questions to ask when they are offered a slew of investment products and therefore fall prey to get-rich-quick schemes and fly-by-night operators, says RBI deputy governor Usha Thorat.
The use of the mobile phone as an instrument for conducting financial transactions and the potential it has for financial inclusion and growth is being recognised by the apex bank, which has however called for caution in m-commerce adoption
A regional analysis by a staffing services provider shows that employers spread across India's four regions expect hiring plans to rise considerably over the next three months both on a quarter-on-quarter and year-on-year basis
RNRL, the Anil Ambani group company, in an affidavit before the apex court has said that there would be no impact on the government at all and it would suffer no loss whatsoever and RIL would also make a profit of Rs30,000 crore at $2.34 per mmBtu
In the automotive industry, where globalisation and diversification proceed in parallel, both VW and Suzuki are planning to establish a cooperative relationship while respecting each other’s independence as a stand-alone entity
The original copy of a record is to be maintained till trial or investigation proceedings have concluded, instead of the current practice of keeping papers only for five years, the market regulator has said
LyondellBasell and RIL late last month disclosed a "preliminary non-binding offer" by the Indian company for taking a controlling interest in the world's third largest independent petrochemical maker. Going by industry sources, Reliance Industries' bid could be more than $12 billion
Skywalks, or foot over-bridges, are an effort to give pedestrians much-needed space to walk as more and more footpaths were disappearing across the city. This phenomenon, coupled with the paucity of subways, necessitated the construction of these skywalks
A few reports have said that Tata Motors is eyeing Sumitomo’s stake in Swaraj Mazda. Although Sumitomo has denied these stake sale reports, analysts say that the move by Tata Motors should be looked more as a technology takeover rather than consolidation of its market share
Social soap operas are not working for television audiences any more. The trend is now favouring much more realistic content where viewers can relate to characters and incidents that are being telecast
As population growth and demographic change continue to exert pressure on India's existing urban infrastructure, the country would require a total funding of more than $1 trillion for a radical overhaul in its existing systems
The Indian government has chalked up big plans to create long-term sustainable energy solutions through solar power. However, certain modalities need to be ironed out to make the ambitious plan actionable and feasible
CAT 2009, the qualifying test for entry into India’s best B-Schools has left thousands of students unsatisfied with their performance. Some students say they may seek legal recourse if they fail to clear the test
Some investors in an ‘Art Fund’ got ripped off.What is interesting is that there is no regulatory cover for any aspect of this kind of business. What is interesting is that there is no regulatory cover for any aspect of this kind of business.
The country posted robust industrial production data, just days after the better-than-expected economic growth of 7.9% in the second quarter of this fiscal, reflecting that the economy would sustain the recovery provided that the agriculture sector does not slip too much
An internal presentation of MetLife’s latest offering, MetLife Wealth Plus, claims to provide a cost-effective and liquid avenue for wealth-creation. It gave us a rare peek into how mis-selling occurs in insurance
In an exclusive interview with Moneylife, Virendra Mhaiskar, CMD of IRB Infrastructure Ltd, speaks about his company’s fund-raising plans, real-estate ventures and the state of the road sector in India
Bajaj Auto, once the undisputed king of two-wheelers, and the maker of a range of famous scooters—that used to carry an entire family—will exit the scooter segment, and will instead concentrate on motorcycle manufacturing. Is this move related to the increasing pressure from competition, which seems to offer much better products than Bajaj Auto?
The monthly data, released by the government for the second time, shows that potato prices have surged by a whopping 141% over the past eight months, followed by sugar (37%), pulses (32%) and onion prices have zoomed 20%
Looks-conscious consumers propped up sales of fast-moving consumer goods (FMCG) companies, who in turn rewarded loyalty by not raising prices of fairness, anti-ageing creams, bathing bars and their likes, although input costs have risen in an economy ravaged by drought and then floods
The Internet search giant has said that it has shared a device with its employees across the globe which combines innovative hardware from a partner with software that runs on Android, to experiment with new mobile features and capabilities
The downgrade reflects the significant deterioration in BEPL's credit profile on the back of delays in the stabilisation of its particle board and medium-density fibreboard manufacturing facility, which has resulted in cash losses and has had a severe impact on FY09 liquidity
According to media reports, the bank tried to repatriate the dealer, S Kapoor, immediately to India against his wishes, after it was confirmed that he had informed the UK FSA about alleged irregularities
This cashless deal (worth Rs10,000 crore) is another case where a family-owned unit has been valued at a fancy price and dumped on a publicly-listed entity. But neither the regulator nor the investor community seem to care By R Balakrishnan
The Delhi High Court was hearing Microsoft Corporation's plea against four different defendants, alleging violation of copyright. The court ruled that Microsoft had selected a court which was so far away from each of the defendants that it was a “harassment for the defendant(s)” to contest the suit itself
Sony is tying up with top producers to boost TRPs all through the week, rather than only during weekends. Ajit Thakur, executive vice president and business head of Sony Entertainment Television (SET) discusses with Pallabika Ganguly the new strategies his company is planning to adopt
GE Shipping says it is considering a fleet-age limit of 25 years to phase out its single-hull vessels while SCI says it may convert some of its vessels. While the global deadline for the phase-out is 2010, India is among the many countries which have accepted a deadline of 2015. The phase-out was proposed to curb oil spills
A fresh test will be held in mid-January 2010 for registered students who could not take the test earlier due to technical glitches. The IIMs have decided to continue with computer-based testing in future.
Has the BSE stolen a march over the NSE by taking the lead in extending trading hours? The NSE was planning to start trading at the earliest to catch up with the Singapore market, but the BSE has stolen its thunder
MCGM is exploring ways to raise around Rs2,000 crore through internal loans. It will also explore bond issue and will utilise fixed deposits currently lying with banks. The civic body is trying to overcome a financial crunch created by a projected shortfall in revenue collection and massive expenditure on projects
Food price inflation hovered around a decade's high of 19.95%, triggered by a short supply of essentials due to lower farm production, following drought and floods in various parts of the country during the year
The capacity utilisation in the Indian cement industry has fallen to 80% in November 2009 from a high of nearly 100% in March 2009. Analysts believe addition of new capacities and oversupply to be the main reasons for this downward trend
While the Consulate General of the Republic of Djibouti confirmed the news report, Patel Engineering, on the other hand, said that it is in an advanced stage of negotiation for this infrastructure project
Although the UPA government decided to keep Western multi-brand retail chains off from the country's $450-billion retail market, nobody is complaining. The recession-battered global majors were busy securing existing operations elsewhere
Spot prices of key raw materials—iron ore and coking coal—have strengthened during the past two months. Next year’s contracts are expected to be finalised at higher levels. Ergo, these cost dynamics will lead to higher steel prices
A host of human resources (HR) experts believe that tough economic conditions globally gave a wake-up call to companies during 2009 to curb their extravagant ways in compensation structures and turned them into more thrifty and performance-conscious firms
The total potential opportunity for domestic players in the defence segment is worth $5.10 billion. Out of this, $2.1 billion is the total worth of offsets expected. These bright prospects, however, could be delayed due to problems in JVs with overseas companies
Mukesh Ambani, the only Indian to feature among the top 50 CEOs, is in the same league as Steve Jobs of Apple, Yun Jong-Yong of Samsung Electronics, Russian energy firm Gazprom's Alexey Miller and John Chambers of Cisco Systems
The truth of the matter is that each stock exchange is principally acting in its own interests. The interests of its powerless stakeholders can always be taken care of by time and their lack of collective will.
The agriculture sector, which had a record run during the past two years in terms of foodgrain output, failed to match even last year's production level—much less set a new record—as half of the country was hit by drought
The biggest irony is that nearly two-thirds of these funds were estimated to have come from investors in overseas markets. However, these global markets themselves were in shambles and companies were in dire need of capital, forcing them to beg their respective governments for money
Entertainment World Developers Pvt Ltd (EWDPL), with expertise in developing shopping centres in Tier II cities, is now developing township projects as well. Manish Kalani, managing director, EWDPL, discusses the new projects of the company with Pallabika Ganguly
The tyre maker is looking at various opportunities, including acquisitions in the South-east Asian region. However, it has not yet identified potential prospects as the whole process is still at an initial stage
If the proposed cabotage policy to bar foreign flagships in Indian costal trade is implemented, it will be helpful for the Indian tanker segment which already has a lot of tonnage lying idle at its disposal
The FII investment of Rs80,500 crore in 2009 is the highest-ever inflow into the country in rupee terms in a single year, and comes a year after these investors pulled out over Rs50,000 crore from India
WorldSpace has declared that it will terminate its radio broadcast services to all Indian subscribers from 31 December 2009. Following its bankruptcy protection filing in October 2008, the satellite radio service provider has had to bid adieu to the subcontinent
The BSE Brokers Forum, which does not see any benefit to any market participant, stakeholder, institution or retail investor due to the move to advance market opening to 9am, plans to take up the issue with the prime minister
Hackers use their best schemes during holidays to steal people's money, credit card or net-banking information. Following seasonal trends, these thieves create holiday-related websites and other convincing emails that can trick even the most cautious Internet user
China is building 42 high-speed passenger rail lines with a total length of 13,000 km in the next three years, covering more than 90% of the population. By 2012, trips from Beijing to most provincial capitals would only take between one and eight hours. What’s the scene in India?
Indage Vintners has been staring at financial losses for a long time and is not able to pay its suppliers and service providers. Now, CRP, its supplier of ‘bag in box’ packaging, has issued a warning to other suppliers not to have any dealings with Indage.
WorldSpace subscribers from India are shocked that the music offered by the satellite radio service will go out of their lives. A number of music buffs want the services to be revived – they are not clamouring for refunds.
R Ravimohan, who was handling the proposed acquisition of global petrochemical major LyondellBasell Industries, was rushed to hospital after he suffered a cardiac arrest while taking a walk outside his office
The producers and distributors of ‘3 Idiots’, which collected over Rs100 crore in just four days from its opening, are going to add 12 more prints in the US by Friday and may even add six-seven more prints in India as well
Roche has claimed that its Tamiflu dramatically reduced hospital admissions as well as bronchitis and pneumonia. But a recent investigation by the British Medical Journal and UK’s TV Channel 4 has concluded that such claims are meritless
Power tariffs in the open market have crashed to Rs2-Rs5 per unit in December from Rs12-Rs14 per unit in June 2009. Seasonal fluctuation leading to low demand is being stated as the reason for these low tariffs
The Justice Wadhwa committee, set up by market regulator SEBI to investigate irregularities in IPOs floated during 2003-2005, has suggested the possibility of recovering the amounts and distributing it among the deprived applicants
The finance ministry has not ruled out the possibility of introducing a new identity number like UTN from the next fiscal, in addition to PAN to ensure prompt verification and granting of tax credits to tax payers
The year 2010, however, holds promise, as corporates will take advantage of the new opportunities, the improving liquidity situation worldwide and the fact that the United States and Europe may witness further consolidation next year.
Attributing the decline in tourism to the global financial slowdown, terror threats and swine flu scare, the tourism minister hopes that some of the measures including the visa-on-arrival scheme and the Commonwealth Games would bring good results in 2010
High-profile economic offences, particularly the case for alleged money-laundering against former Jharkhand chief minister Madhu Koda and the multi-crore Satyam scam, kept the Enforcement Directorate (ED) on its toes all through 2009
The block was allotted to GMR Energy along with other major power companies in January 2008. Company officials had said that the joint venture had been formed, and the other clearance processes were on
As usual, Moneylife’s annual study of wealth creators throws up many surprises. It stresses the need to buy cheap & avoid falling into the trap of purchasing ‘popular’ stocks and points out the role of excessive speculation in pushing up obscure stocks
Indian bourses extended trading hours by about an hour. However, the volumes in Nifty futures on the first day were one of the lowest ever in the past few years. Indeed, adjusted for one hour’s extra trade, volumes were 40% of what they should have been
Everybody hopes that the Teeside plants will not be shut down but it is a matter of market dynamics and Tata Steel cannot continue losing hundreds of millions of pounds to keep the plants operational, says JJ Irani, director, Tata Sons
Facebook has sent a 'cease-and-desist' letter to another website, Seppukoo.com, that deletes profiles, friends and other information on Facebook, MySpace, Twitter and LinkedIn for users who provide their account information
Though it has been around for 50 years now, the last decade has so far been the most defining period in the tube’s history. It was during this time when TV gave its big brother Bollywood a run for its money and also set new trends
GMR group unit GMR Energy is investing around Rs18,000 crore over the next three years to add electricity generation capacity and become a 3,300MW company. Raaj Kumar, chief executive officer and director, GMR Energy, talks with Moneylife’s Amritha Pillay about the coal supply situation in the country
With the telecom ministry preparing to start 3G spectrum auction for operators, the I&B ministry is getting applications for starting new TV channels virtually on a daily basis even as there are already 500 channels on air
Amar Singh, the 53-year-old leader, who was considered the right hand man of Mulayam Singh Yadav, has resigned as national general secretary, spokesman and member of the Samajwadi Party parliamentary board
In 2006, Osian Art Fund closed with a total corpus of more than Rs102.40 crore, but at the time of redemption it disappointed investors with poor returns. Neville Tuli, chief advisor, Osian Art Fund and chairman, Osian’s-Connoisseurs of Art Pvt Ltd, talks to Amritha Pillay from Moneylife on art funds and art markets in India
Byron Wien has been giving his predictions about the US economy, financial markets and politics every year since 1986. According to critics, he has a good feel for the economy and for politics with a slightly bullish bias and it is this bias which blindsided him when it came to the housing bubble
ONGC was forced to exit from a gas block in Trinidad & Tobago after its partner Lakshmi N Mittal walked out of the project and its unit OVL would have had to foot the entire $304 million exploration expenditure
Neville Tuli, chief advisor of the Osian Art Fund, believes that the Fund would have performed better given a longer lock-in period and better market conditions. The fund disappointed investors with poor returns in July 2009
These Tata Nanos shown in the image are in a very bad condition, almost 'dumped' on this ground in Kalyan, a Mumbai suburb. We did question the manufacturer, but we have received no answer so far on who has dumped these vehicles, and the reason behind this activity
RIL will file a criminal complaint against a TV channel which alleged that the Ambani brothers had a role to play in the accidental death of the former AP chief minister. The AP incident has once again raised questions about the credibility and responsibility of the media.
All major manufacturers like Maruti Suzuki, Hyundai Motor, Tata Motors, Hero Honda and Bajaj Auto registered healthy jumps, which were further fuelled by the low-base effect of 2008 due to the slowdown in the domestic auto market
ITC is apparently using its political clout for blocking FDI in tobacco, leaving foreign investment proposals high and dry. Intense lobbying on ITC’s part has even led to a shift in the government’s stance
Well-begun is half done, goes the saying. These stocks have set a scorching pace in the first week’s trading of the New Year. In 2009, many of the stocks that surged in the first week continued their run-up through the year
The Consumer Complaints Council of ASCI has concluded that Airtel’s advertisement is misleading, as the viewer of the TV commercial is led to believe that Airtel Digital TV has superior picture quality because of MPEG4 or DVBS2 technology
Dr Reddy's Lab's long-standing patent dispute with Europe's AstraZeneca over a drug to treat heartburn may be resolved out of court following a similar settlement between the European drug maker and Israel's Teva
As part of the UID project, the government plans to introduce a micro-payment platform that would allow for easy transactions in unbanked areas of the country. It will also create a nationwide network of BCs for enabling interoperability
The former deputy governor of the RBI says that the public sector offers a challenging and fulfilling career and the country's young professionals must mull over joining such services rather than being solely focused on lucrative jobs in non-government fields
The Indian government is envisaging an investment of Rs1 lakh crore in the food processing industry over the next five years, a major chunk of which it plans to attract from the private sector and financial institutions
Though the government had earlier this fiscal decided to compensate state-run oil marketing companies by way of oil bonds, the finance ministry has not issued any bonds during the first three quarters.
Steel giant ArcelorMittal may drop the Rs50,000-crore project in Jharkhand if clearance is delayed inordinately, a company director has said, a view contested by another official who deals with Indian operations
SGX Nifty Futures volumes have been falling even before the NSE extended its trading hours. So the latest move by the Singapore exchange to extend its trading session may not impact NSE Nifty volumes at all.
The Indian government should establish dedicated defence-specific SEZs, apart from providing a tax-equalisation subsidy, as the fiscal regime plays a critical role in defence market growth, says a study
Despite the hype surrounding mobile stock trading, especially in the US, Gartner has said that most on-the-go trading is more likely to take place in semi-mobile situations in notebooks and netbooks, instead of mobile handsets
The Indian government has taken a slew of measures to increase availability of sugar, pulses and other commodities. It hopes that rates of the sweetener, being sold at nearly Rs50 a kg, would start declining in a week
While analysts are celebrating an industrial revival, order inflows for EPC companies have witnessed a 6% decline q-o-q and 14% decline y-o-y in the December quarter–a third consecutive quarter of decline
The US government has got major mobile operators on board to allow people to very easily donate $10, through a text message to the Red Cross, to help with the disastrous situation in Haiti following the major earthquake
With a majority of people going for traditional instruments that are easily available and simple to understand, the investor population is shrinking, says UK Sinha, chairman and managing director, UTI Asset Management Co, in an exclusive interview with Sucheta Dalal. This is the first part of a two-part series
SAT has adjourned the hearing on a petition by brokerage house First Global's Shankar Sharma against a SEBI order banning him from trading in markets for his alleged role in manipulating prices of certain shares
Moneylife’s study of the pattern of stock picks by mutual funds’ equity schemes finds that stock picks are highly concentrated among a few hundreds with portfolios mimicking each other. The study also underlines the lack of depth and diversity in Indian markets
Magma Fincorp Ltd is planning to enter the general insurance business and has bought stake in a credit information company, Experian. Sanjay Charmia, VC and MD and Dhirendra Kumar Hota, AVP and head for MIS budgeting, speak to Moneylife’s Aaron Rodrigues about the company’s plans
Arshiya International Ltd will have three free trade warehousing zones operational by the end of 2010. Ajay S Mittal, chairman and managing director, speaks to Moneylife’s Amritha Pillay about the commercial logic behind such zones
Rural Electrification Corp Ltd (REC) is planning a follow-on public issue to raise funds. P Uma Shankar, CMD, REC, speaks to Moneylife’s Amritha Pillay about the company’s quarterly results and future plans
For a long time, telecom consumers needed clarity on whether they would need to go in for the lengthy process of arbitration to settle a dispute with a service provider. However, a recent judgement delivered by a consumer court makes it clear that users can go to consumer forums to settle their grievances
Arshiya International has been one of the late—but profitable—players in the private rail freight segment in India. Its CMD Ajay S Mittal talks to Moneylife’s Amritha Pillay on the company’s rail freight business
The Network 18 group is India’s most diversified media company. However, the net-worth of several group firms of the company has been completely eroded; they are sick companies, belying their glitzy images and relentless expansions
The road & transport ministry has an ambitious plan of building 20 kilometres of road per day. RPN Singh, minister of state (MoS) for road & transport speaks with Moneylife’s Aaron Rodrigues about the ministry’s plans
The airline doesn’t have money to feed us water on board! Plus, carriers are constantly cribbing about being short on funds and have been pressurising the aviation ministry for a bailout. And SpiceJet has created not one, but five TV commercials
Increasing competition and loss-making revenue models have been forcing Network18 to go in for cost-cutting measures, including laying off employees. At the same time, the media company has been pumping money into its cash-strapped, loss-making businesses
Moneylife Knowledge Centre set up by the Moneylife Foundation in Mumbai will supplement the efforts of regulators and providers of financial services at spreading financial literacy and redressing grievances.
Mahesh Ramanathan, chief operating officer, Reliance BIG Pictures, discusses film piracy, the fate of Bollywood animation movies, why screen writers in India are underpaid and other issues in an exclusive interview with Moneylife’s Ravi Samalad
DB Realty’s IPO received just 23,000 applications after the company spent Rs13.50 crore for its ads in The Times of India alone. NTPC’s FPO received just 80,000 applications. This has set the alarm bells ringing for decision makers
Hathway subscribers from these cities and certain parts of Maharashtra would be deprived of viewing 33 TV channels offered by Zee Turner. Hathway’s IPO also received a lukewarm response from investors.
Axis Bank debited Rs225 as ‘bank charges’ for the sale of its newly launched open-ended equity mutual fund, while Citibank used to do the same for insurance policies. Are the regulators aware of such things?
Investors have been withdrawing money virtually every month for the past 13 months—whether we are in a bull market or a bear market. This gives the lie to the fund industry’s notion that investors are merely booking profits
Toyota is again facing the heat from US regulators. This time, the Japanese carmaker is facing complaints over steering problems with its popular Corolla model. However, an official from the company has said that there are no issues with Toyota’s Indian cars
Home minister Chidambaram claims to have suggested that SBI should have bought Citibank in 2008 when its shares were going at $1. Wonder why he has decided to dedicate his life to harassing tax payers and Naxalites, when we could have easily run billion-dollar hedge funds with his superb sense of timing.
The IT giant had reportedly admitted that one of its employees committed suicide after the company caught him embezzling $4 million in December. However, till date no criminal charges have been filed against the employee.
Raju Hirani is a hotshot director today, having created three hits in a row. But he started in Hindi films on the wrong foot. For his early work in feature films he hardly got paid and he had drifted into making ad films, where he was doing fine, explains Hirani. This is the third part of a three-part interview series.
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fiscal, as domestic supply shrinks due to issues like environmental clearance and Naxalite threats
The Korean carmaker is halting sales of its top-selling vehicle in the US and South Korea owing to concerns about sticking door locks. However, this will not affect Hyundai’s India sales, say analysts.
Over the past two years, the markets have been hugely volatile— which is ideal for arbitrage funds. But over this period, of the 12 arbitrage funds, only three funds outperformed and nine underperformed their benchmarks.
With an unapologetic emphasis on privatisation and a consumption-led economy, this year’s Budget marks a paradigm shift in the present government’s approach, ostensibly putting India on the cusp of a major change.
The participants were presented with an enlightening exchange of opinions and detailed analysis of the implications of the Budget proposals for the common man, businesses as well as the entire economy.
A spate of recent suicides among students and the ongoing worry about this mind-numbing phenomenon is a cause of national concern. Over 100,000 Indians commit suicide every year, and the number has only risen over the past two decades, say experts. Worse, over 71% of suicides are by people below the age of 44. While suicides are attributed to acute mental agony, the trauma on those who are left behind is not less. Savita Narayan profiles a Pune-based NGO called Connecting… which helps people cope with the effect of suicide on the survivors
Shipping and logistics company Shreyas Shipping and Logistics Ltd also provides land transportation, warehousing and other value-added services. Vinay Kshirsagar, chief financial officer of Shreyas Shipping speaks with Moneylife’s Amritha Pillay about the trends in shipping, logistics and warehousing
Last year in October, Moneylife had warned that the fraudulent emails in circulation at that time claiming to offer you a tax refund were only test mail and were bound to be refined in the future. Recent scam mails, with the I-T Dept image, the Indian national emblem and other details are proof of what we had predicted
Prices in the retail market for hot rolled coil have already gone up by almost Rs2,000 per tonne and analysts believe a price hike from April is imminent on account of excise duty hike and jump in raw material contract prices
The recent judgement by the apex court will be of great help to businessmen and the same can be relied upon for all the current or future assessments in determining the allowability of bad loans when written off in the books of accounts of the assessee
The present study by NISM is another attempt to assess the performance of CRAs, particularly in the light of the recent significant events in the global financial system and the criticism being faced by CRAs in the USA
DQE has shifted its business model from a largely outsourced model to a co-production model and its future growth may depend on continued rollout of IP content in which the company has little experience
The draft document of offer for the new ETF by Motilal Oswal AMC uses a proprietary index. But it does not explain the weightage assigned to the stocks of the underlying index or how the index would have performed in the past
The art house plans an auction this month, proceeds of which would be used to redeem the art fund. However, Osian officials claim that a major chunk of the redemption amount would be paid before the auction
Industry body AMFI acknowledges rampant mis-selling of MF products; puts blame on distributors, ignoring the fact that poorly-performing products of AMCs, aggressively sold with all kinds of incentives, are really the cause of mis-selling
Stripped off their legalese, prospectuses of mutual funds are prone to misrepresentations and inadequate disclosures. As a result, the investing community continues to be short-changed. A two-part analysis
The government wants to use e-governance as a tool for better administration. It needs to wake up to the fact that e-governance requires not only technology infrastructure, but also the human will to make it work
The capacity of countries to efficiently move goods and connect manufacturers and consumers with international markets is improving around the world, but much more is needed to spur faster economic growth and help firms benefit from trade recovery, says the World Bank
An MP from Uttar Pradesh has alleged that the Anil Dhirubhai Ambani Group had diverted funds raised through External Commercial Borrowings and Foreign Currency Convertible Bonds into stock market operations through Swiss bank UBS. These funds were allegedly moved by the Swiss bank into some dormant accounts and then used for large-scale unauthorised trades
SEBI’s new idea to limit the timeframe for NFOs to 15 days will create even greater problems for the fund industry. But most importantly, it will undermine SEBI’s own agenda of market development by cutting off smaller towns
A fresh exercise that completely ignores the fact that large sums of money belonging to individuals, traders and businesses are appropriated by the government and remain impounded with it because of slow, corrupt and inefficient processes
The Bombay High Court has ordered the Mahad police to submit details of the action taken following the attack on environment activist Sumaira Abdulali, who has been fighting the menace of illegal sand mining
While cement prices have been on the upside over the past few months, analysts suggest that they will start falling from next month with the recently added capacities by various players boosting utilisation levels
Infinity Metals, an export-oriented SSI unit, has been struggling to keep itself afloat after its bank systematically abused the SARFAESI Act and harassed it into near-bankruptcy. Denied justice by the ombudsman, the troubled unit is now left gasping for breath
The insurance regulator has launched an unprecedented advertising campaign, hard-selling ULIPs. Not only is this a misleading action for a regulator, but the ad is also misleading as it fails to provide any concrete evidence of ULIPs’ superior performance
Biswajit Mohanty, an environmental activist, plans to initiate legal action against Vedanta’s refinery in Orissa on the issue of alleged violations of environmental norms. The activist also plans to take legal action on the long-running ‘mining scam’ in the state
SAT, which last week dismissed the review petition of Shankar Sharma, has taken exception to his conduct in not informing the Tribunal about his filing of a civil appeal against a SAT order in the Supreme Court, and dismissal of the same by the apex court
Development of greenfield steel projects in India has virtually come to a standstill. Many of these projects have stagnated due to issues like land acquisition, rehabilitation and political interference
Mumbai builders are slapping new home buyers with a nasty surprise in the form of value-added tax and service tax. This means that buyers have to pay 12% more on taking possession of their contracted and fully-paid apartments
The AAR ruling affirms that the Indian tax authorities are not in a position to levy capital gains tax on the transfer of shares in an Indian company by a Mauritian tax resident in view of the provisions of the India-Mauritius tax treaty
The market regulator’s December 2009 circular on transferring funds back to client accounts periodically has created market-wide confusion. Many brokers have not followed this rule, which was supposed to be implemented by 31 March 2010
With its unique business model and customer focus, Shriram Transport Finance Company (STFC) has grown rapidly in the commercial vehicle (CV) financing space since it started operations over 30 years ago. The company’s managing director R Sridhar speaks with Moneylife’s Sanket Dhanorkar about how and why STFC chose to focus on this segment and what it has learnt over these years. This is the first part of a two-part interview series.
Shriram Transport Finance Company’s (STFC) managing director, R Sridhar speaks with Moneylife’s Sanket Dhanorkar about the company’s funding, expansion and diversification plans. This is the second part of a two-part series
GMR acquired power utility InterGen, based in the Netherlands, at a transaction worth $1.10 billion in 2008. Two years later, not much financial information is available about the acquired company in the public domain
The market watchdog has extended the deadline for implementation of its ‘dealings between a client and a stock broker’ mandate till 30 June 2010 and will leave it to the stock exchages to handle sticky issues
India's nationalised banks seem set for a major recruitment drive once again to meet growth needs and fresh vacancies that will arise when a large number of employees retire in the next three-four years
The Unilever CEO believes that HUL is still the lion in several categories. He is living in his own world. Over the past decade, HUL has repeatedly tried and failed in a large number of new businesses, which makes it look like an also-ran
After SEBI cracking down on entry loads and upfront commissions, IFAs are thinking of charging MF investors a fee; however, a few market watchers feel that investors are not ready to shell out money yet
Nikhil Gandhi, group chairman, SKIL Infrastructure Ltd (SKIL), talks to Amritha Pillay of Moneylife on his company’s stake purchase in Pipavav Shipyard and the group’s expansion plans in the port and power sectors
The enabling legislation for PFRDA has failed to see the light of day due to quiet resistance from the Left to the mechanics of the NPS. Meanwhile, the PFRDA continues to walk barefoot without an umbrella Act
With Reliance Venture Asset Management recently funding the reverse logistics service provider RLC Pvt Ltd, experts say that more investments in the form of joint ventures and venture capital could take place in this sector
The industry body has issued warning notices to HSBC, NJ India Invest, HDFC Bank and Kotak Mahindra Bank for not complying with NOC norms and luring investors to change distributors to garner trail commission
It sponsors teams, spends billions (of dollars) on advertising and is probably the world’s most well-known brand. But Coca-Cola seems to have forgotten what it takes to service a customer. What’s worse, Coke prefers to maintain a deafening silence—and enter a state of denial—when confronted with what is a major slip-up at its end
While passing an order banning ULIPs late on Friday night, SEBI said the entities have not obtained any registration from the regulator though the ULIPs were in the nature of collective investment schemes like mutual funds
With the new reverse mortgage product, senior citizens have a real possibility of encashing the value of their homes, by getting a regular income from it, while still living in it until the end of their lives
The finance ministry has finally stepped in to resolve the SEBI-IRDA spat, which threatened to destabilise the market. However, instead of directly intervening in the dispute, the ministry seems to have bought some time by telling the sparring regulators to go to court
According to the CEA website, peak-hour deficit has increased from 11.9% in 2008-09 to 13.3% in 2009-10. Experts believe that pent-up demand may be higher than the projected 11%, further worsening the situation
The current rise in steel prices has increased expectations of a re-telecast of the steel opera which played out in 2008, when the steel ministry intervened to cap steel prices. However, no such intervention is likely—at least in the short term—as the government is in a ‘wait-and-watch’ mode
The rise of emerging markets, increased focus on new revenue streams, and changing demographic imperatives are likely to increase the number of people working outside their home countries by 50% over the next decade, says PwC
Mobile operators in India are battling for 3G spectrum—while the world is getting 'hands on' experience on 4G technology. Moreover, going by the telecom minister's statement, mobile operators will have to be ready to shell out more money for 4G even as they roll out 3G networks
The Bank has glossed over the pending litigations against it in connection with the 1992 securities scam, in its IDR offer document. However, the market ‘watchdog’ seems least bothered by this astonishing lack of transparency
Team Life Care Co, an authorised corporate agent of Bajaj Allianz Life Insurance, is carrying on a multi-level marketing scheme under a sister entity called TLC Insurance (India) Pvt Ltd, in open violation of the law
The National Stock Exchange has suffered three reverses in just one week: The Delhi HC verdict that it falls under the RTI Act; the verdict in the case filed by an ex-employee and finally, an order by the Competition Commission about its predatory practices
SEBI plans to curb potential round-tripping through FIIs and also increase transparency. If successfully implemented, the move will segregate the opportunistic short-term investors from the committed long-term ones
CRISIL Equities estimates about Rs40,000 crore will be raised from IPOs in 2010 and the reduction in timeline by 10 days is expected to translate into interest savings of Rs800 crore annually, at an opportunity cost of 10%.
IL&FS Clusters is in talks with the governments of Orissa and Andhra Pradesh for developing industrial infrastructure in these states. At present, the group is working closely with the Karnataka government in the textiles sector
SEBI's counter affidavit clearly stated that more than 50% of the shares of NSE are owned by Government of India or Government companies, thus establishing the Exchange as a public authority in terms of RTI
Contrary to popular belief, SEBI’s clamp-down on ULIPs may not be of its own doing; the roots of the ongoing turf war can be traced back to the finance ministry’s thought process developed many months ago
Senior citizens who have gone in for reverse mortgages, can approach any bank that offers an improved, amended product—for a switchover to the new reverse mortgage model—which offers higher monthly returns
The Madras High Court has upheld that the New Tiruppur Area Development Corporation Limited is a public authority and will have to provide information under the RTI Act. The is in tune with the High Court order passed against the NSE
Sunil Hitech Engineers Ltd has its presence in the engineering segment and in the power & steel sectors. Sunil Gutte, joint managing director, talks to Amritha Pillay on the company’s order-book expectations and his outlook on the power sector
The United Stock Exchange hopes to hit the ground running with its currency futures offering. It would be an uphill battle against two established rivals, MCX and NSE, especially since NSE has made a predatory move in making membership free
While the SEBI-IRDA battle over ULIPs is still raging, the bank has emailed its high networth customers a twisted interpretation of an erroneous Times of India report asserting that the ULIP issue is now resolved in favour of IRDA
With captive mines under their belts, SAIL, JSPL and Tata Steel could emerge as the biggest winners due to rising iron ore prices. These companies are well placed to cash in on the subsequent rise in steel prices, while their raw material costs will remain comparatively on the lower side
The Supreme Court has passed strictures dismissing NSE’s appeal in the matter of harassment and defamation of a former NSE employee. The Exchange and its top brass will now face a criminal case in the Mumbai Metropolitan Court
Huge expansions are planned in the hydropower sector to meet India’s soaring energy demand. However, energy studies project these investments in increasing capacity have led to diminishing returns over the past 11 years
There were zero bids from the QIB category for the Tarapur Transformers IPO, while the retail investor category was subscribed 0.79 times on the opening day of this offering, which received a ‘Grade 1’ from CRISIL
By keeping new gadgets limited to certain markets, Apple and Google are openly inviting piracy. The Chinese have already started rolling out ‘original-looking’ fake iPads before the official Apple launch
Hydropower projects are being promoted due to their perceived ability to meet peak demand. But there is no current data to show that these projects are doing so—and a couple of big projects are clearly slipping up
The mass media is flooded with news about the group’s bid for Federa airport in Dholera special investment region (SIR), completion of the Yamuna Expressway project ahead of schedule and its Rs70,000-crore ambitious expansion plans
Index funds are supposed to mimic returns of underlying indices by either tracking the index widely or trying to outdo the indices through active management. SEBI seems to be taking a hard look at them
In an interaction with NGOs working for senior citizens, Susan B Somers, General Secretary of the International Network for the Prevention of Elder Abuse (INPEA) highlighted financial issues prevalent in the US and how they have been dealt with
In a letter dated 26th March, the Maharashtra Pollution Control Board (MPCB) had notified the villagers that a public feedback meeting would be held to record their suggestions regarding the proposed project, but the villagers have boycotted the meet
With the government set to garner more revenues than expected from the 3G and BWA auction and its disinvestment programme, it may be able to rein in the fiscal deficit to 5.5%, a level not seen after FY07
In the wake of the recent SC ruling, the Union government cannot abandon its own obligation to exercise due diligence and prudence in fixing the price of gas & determine the sectoral and regional allocations, a former secretary to the government of India has said in a letter to the prime minister
Asset prices for second-hand vessels in the dry bulk and tanker segments are currently going up. However, industry sources believe that players are in a wait-and- watch mode, and the rise may be a temporary phenomenon
Fali Poncha, chairman, International Reinsurance and Insurance Consultancy Services (IRICS), speaks to Moneylife’s Aaron Rodrigues and Sanket Dhanorkar on mediclaim, TPAs and other issues facing the health insurance industry
Retired bank employees who want to join a pension scheme will have to refund the entire amount paid by the bank to their provident fund account and the interest accrued thereon, along with their share in the contribution
DP World plans to position the Vallarpadam terminal in competition with other international ports like Colombo and Jebel Ali. However, the group will have to first face issues pertaining to the Indian cabotage policy before starting operations
The recent proposal of the State government to charge 1% for all under-construction properties will be passed on to the consumers, but will the beneficiaries get the money or will it be used for frivolous purposes?
When top brokerage firms were approached for opening a trading account, we found that there were differences between the views of official spokespersons and what customer service executives tell would-be clients
A slew of changes in the way funds are created and sold, would come about in the next 12-18 months, asserted KN Vaidyanathan, an Executive Director of SEBI, while speaking to Moneylife in an exclusive interview. This is the first part of the story
Rose Valley Chain Marketing System Ltd, a part of the Rose Valley group based in West Bengal, is yet another company on the block brazenly peddling insurance products through multi-level marketing schemes