The Hindu Business Line : Saturday, January 22, 2011

Refining, petrochem biz fuel Reliance net up 28%
Strong domestic demand, commissioning of new capacities boost Q3 numbers. Riding on its refining and petrochemicals businesses, Reliance Industries has reported a net profit of Rs 5,136 crore for the third quarter of this fiscal, 28.1 per cent ...

Norms may be eased for foreign banks to open branches, raise rupee resources
Foreign banks may look forward to a less restrictive branch expansion policy and could be allowed to raise ...

More challenges ahead: Mr... Tata Steel FPO: Choice of bankers a ‘coincidence'
Selection was independent decision: Tata group CFO. The choice of the four investment banks – SBI Capital Markets, Kotak Mahindra, Deutsche Bank and HSBC – by the Tata Group for the Tata Steel follow-on offer (FPO) was ...

Wipro brings in new chief to shore up IT biz
Wipro today announced a major change in leadership in a bid to shore up its fortunes, in the face of competition from peers that have shown ...

Wipro hopes to regain lost ground with leadership change
IT major posts tepid growth in revenues, net profit in the third quarter. Faced with challenges of “underperformance” and competition from peers who have shown faster growth in the IT sector, Wipro Ltd has announced a major change in ...

Grocery budgets set to swell again
FMCG companies plan another round of price hikes. FMCG (fast moving consumer goods) companies have no choice but to go for another round of price hikes in the coming quarter to protect their margins. Galloping inflation has led to escalating ...

Probe 2G scam without being influenced: Apex court tells CBI
Terms Sibal's statement against CAG as unfortunate. Terming as unfortunate the Telecom Minister Mr Kapil Sibal's statement that there was no loss due to the 2G spectrum allocation and his criticism of the Comptroller and Auditor General's report ...

Why is Vodafone opposing the reverse merger of Essar Group cos?
Deal could potentially hike the cost of acquiring Essar's stake in the mobile telephony biz. Vodafone is obliged to pay $5 billion for a one-third stake that Essar Group owns in Vodafone Essar Ltd (VEL), the mobile telephony company they jointly ...

Maruti hikes prices by 2%
Maruti Suzuki has increased its car prices by up to 2.2 per cent effective ...

‘We want a resolution and are open to dialogue'
Lavasa keen to resolve issue with Environment Ministry. Lavasa Corporation will approach the Environment Ministry to resolve the impasse over the hill station project, said Mr Ajit Gulabchand, Chairman and Managing Director, Hindustan ...

MFI loan processing now takes more than two months
Till recently, loans were given within a week. For the last three years, Vijjamma, a member of a Self Help Group (SHG) in Tandur, AP, has been able to take loans from microfinance institutions (MFIs) in ...

Mutual fund investments trip on KYC compliance norms
Process has slowed at CDSL Ventures due to higher number of forms. Online and offline investment businesses of asset management companies have been adversely affected in the short run owing to the non-compliance of KYC (Know Your Customer) norms ...

Decision on raising cotton export cap after Feb 10
Even as the Union Agriculture Minister, Mr Sharad Pawar, on Friday, said that the Centre may consider allowing more cotton exports in the wake of a better-than-expected crop, a Committee of Secretaries (CoS) has decided not to take any call ...

‘Minor' oil leak in ONGC pipeline plugged
Initial assessment puts loss at 25,000 barrels. A leakage at ONGC's Mumbai Uran Trunk (MUT) crude oil pipeline in the western offshore on Friday morning has led to an oil spill of about a mile, which could mean a loss of about 25,000 barrels, ...