COMPANIES & SECTORS


China’s steel trade body fears a rapidly worsening situation in the December quarter and early 2010 While Indian steel stocks are rallying, China Iron and Steel Association (CISA) has warned that oversupply is the major problem that the Chinese steel sector would need to confront. The...

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Pallabika Ganguly 17 November 2009
Shopper’s Stop reported a significantly higher profit in Q2. Govind Shrikhande, president and CEO, explains to Pallabika Ganguly how he did it. Here is the second part of the three-part interview. ML: What is the future of organised retail in India? Do big brands see value in this segment?

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SHCIL has declared an unprecedented dividend of 900%. What is the reason behind this lavish payout? Stock Holding Corp of India Ltd (SHCIL) has announced a staggering cash dividend of 900%. According to informed sources, this entire dividend is the amount SHCIL earned by selling its 2%...

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Bankers and equity investors will be hurt by the way airlines are piling on debt The way the aviation sector is loading up on debt and equity, is certain to hurt lenders as well as equity investors. Air India is looking for additional equity of Rs5,000 crore over three years. Indian...

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The Birlas may be mighty but are mishandling their fight against the Lodhas  Despite their best efforts, the Birlas have not been able to stop the Lodhas from maintaining their control over Birla Corporation and other companies of the MP Birla group that the late RS Lodha inherited...

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Indian pipeline manufacturers are benefiting from large-scale US gas pipeline expansion Welspun Gujarat Stahl Rohren surprised the market with the news that its oil & gas pipeline order book size has crossed Rs10,000 crore. Jindal Saw Pipes (JSP) is also reported to have pending orders worth...

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While distressed assets and delinquent accounts continue to erode banks’ profitability, very few favour offloading bad loans to asset reconstruction companies (ARCs) Banks have been dealing with non-performing loan (NPL) recovery for quite some time now. Tough economic conditions brought upon...

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Fertiliser companies are staring at heavy losses if they are denied natural gas from Reliance Industries. RIL is producing 40 million metric cubic metres per day (MMCMD) of natural gas. Anil Ambani has also made a claim of 28 MMCMD per day. NTPC has also claimed 12 MMCMD to run its 4,000 MW...

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Dr Swati Piramal, director of Piramal Life Sciences, has been quoted in the media as saying that Piramal expects to launch its first drug by 2011-12. She further said that “the company would not hazard a guess on when it can break even because even after launch drugs can fail.” That gives a...

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Troubled winemaker’s bank accounts seized by sales tax department for non-payment of dues to employees India’s oldest winemaker Indage Vintners, we learn, has not been making payments to suppliers and service providers ever since the beginning of this year. In a business that is dependent on a...

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When Tata announced the launch of their small, compact car 'Nano' priced at Rs1,00,000, many raised questions about the sustainability of such vehicles. Many were worried over Nano's small size and its capacity to carry a load of four fully grown people. Nano answered most of the criticism and...

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Disgruntled employees allege IOL Netcom has been withholding salaries since January 2009, allegedly due to cash problems. All is not well at IOL Netcom Ltd, an IPTV and Internet services company based in Mumbai. An ex-employee of the company complained that his salary has remained unpaid...

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  India’s gas production will almost double in the next four months due to production from the Kaveri Godavari (KG) basin. As per the director general of hydrocarbons—comments accessed by energylineindia—gas production will increase from 39 cubic metres per day (mmscmd) in October 2009 to...

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Government has provided many benefits and tax incentives to the Shipping industry but in vain. Shipping companies have not made a mark in the past decade. The shipping industry is somewhat of a blot on the India growth story. It hasn't added any significant tonnage in over 14 years as...

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Cement producers in north India expect demand to improve despite fall in prices while analysts believe demand will be unable to meet the oversupply in the market Cement manufacturers from northern India are confident that there would be continuous demand following projects related with...

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These days every other GSM mobile services provider has been bit by the lower tariff bug. The "pay-per-call" and "pay-per-second" initiative by Tata Teleservices has forced major players like Bharti Airtel and Reliance Communications (RCom) to join the tariff war. The latest to join the war...

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Vested interests in the real estate market are falsely spiking property prices. Developers and broking firms are creating a false bubble by exaggerating the improved market sentiment The convergence of vested interests of a few developers, media houses and broking firms is creating an...

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Developers like Neptune and Rustomjee plan more redevelopment projects in Mumbai The Maharashtra government’s efforts to give a boost to redevelopment in Mumbai by increasing the floor space index (FSI) up to 4, has started showing results. While developers like Rustomjee and Neptune plan...

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Ratings agency CRISIL has said that credit quality of Indian companies is beginning to stabilise after being in virtual free fall for FY09 as companies are having easier access to funds following the Union government's fiscal and monetary easing and positive stock market conditions coupled...

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  UTV’s latest movie Main Aur Mrs Khanna could only pull 50% of the crowd to the theaters but its previous movie Wake Up Sid, a Ranbir Kapoor starter, which was released in theatres on 2nd October is still able to pull in 85% occupancy. PVR’s first weekend collection for the movie...

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