Corporate
The Sensex is swinging between zones owing to alternate bouts of buying and selling. The index is now at 16,878, down 34 points.
The Hang Seng advanced 203 points or 1% at 21,902.
Ranju Sarkar / December 4, 2009, 0:36 IST
Pune-based Bajaj Auto, India"s second biggest motorcycle maker today launched the Pulsar 135 LS (light sport) priced at Rs 51,000 (ex-showroom Delhi) at an event held in the capital.
Australia"s economy will likely perform under capacity and unemployment will rise, despite the country"s resilience in the face of the global downturn, Treasurer Wayne Swan said today.
Business Standard / New Delhi October 11, 2009, 0:22 IST
Gulshan Kumar Pathania, president, Association of Australian Education Representatives in India (AAERI), has revealed that the recent attacks on Indian students in Australia has resulted in new enquiries coming down by 60-70%. “The impact of attacks on Indian students has been severe as the number of enquiries made by Indian students regarding studies in Australia has dipped significantly,” Gulshan added. Gulshan was here to discuss the role being played by Association of Australian Education Representatives (AAERI) to safeguard the interests of Indian students opting for studies in Australia.
Victorian premier John Brumby, who is currently on a visit to India, has been criticised by the opposition party in Australia for failing to raise the case of an Indian fugitive during his trip.
Infrastructure firm IL&FS"s open offer for acquiring an additional 20 per cent stake in crisis hit Maytas Infra will open tomorrow.
The Blackstone Group, the global private equity giant, today said that it had pumped in an additional $23 million (around Rs 110 crore) into Allcargo Global Logistics.
Aditya Birla Nuvo is in talks with global private equity players Blackstone, Carlyle and KKR to sell shareholding in its proposed holding firm for its financial services business. The financial services holding company will house its asset management, insurance, stock broking, wealth management and private equity businesses.
Calls it ‘unappealing prospect’ from a ‘low-growth’ conglomerate.
Satyam founder B Ramalinga Raju"s disclosure of an accounting fraud had posed a major dilemma for market regulator Sebi on whether to halt trade, but it did not although the US banned it for a day.
Mumbai-based UTV Software Communications, has posted 40.12 per cent fall in its consolidated net profit at Rs 46.52 crore in the financial year ending March 2009 as compared to Rs 77.69 crore in the previous year.
Welcoming public-private partnership in efforts to provide affordable housing, Union Housing and Urban Poverty Alleviation Minister Kumari Selja today said it was increasingly being seen as a commercial opportunity and not just a welfare programme.
Away from the silver screen, Chitrangda Singh tries her hand at everything from golf to snorkeling to scuba-diving to, now, skydiving.
Business Standard / New Delhi July 8, 2009, 0:58 IST
The Central Administrative Tribunal (CAT) has set aside the appointment of Dr Anand Kumar who was the professor of the Department of Reproductive Biology in AIIMS, and gave the institute three months time to make a new selection for the post.
Business Standard / New Delhi October 21, 2009, 0:13 IST
Scientists have created visual systems which they claim would help unmanned aircraft see for themselves as they fly fast and low over dangerous terrain.
Poor performance from Whyte and Mackay and adverse foreign exchange movements pulled down United Spirits’ consolidated numbers for 2008-09. The liquor firm reported a loss of Rs 410 crore.
Russians may still be humming their all-time favourite song — mera joota hai japani — but they are now choosing to buy Hindustani in big numbers.
A Kingfisher Airlines ATR aircraft with 42 passengers and four crew onboard overshot the runway after it landed at Mumbai Airport today.
Luxury car maker, Honda Siel Cars India today said it is set to start the export of engine components to Japan from October.
After increasing it four times in a row, the state-run oil firms today cut jet fuel prices by 5.7 per cent on easing international rates.
Budget air carrier SpiceJet today increased fuel surcharge by Rs 400 with immediate effect, a day after private domestic airlines Jet Airways and Kingfisher Airlines announced their decision.
Sohini Das / Mumbai December 15, 2009, 0:33 IST
Asian stocks rose, lifting the MSCI Asia Pacific Index to a two-week high, on speculation the Bank of Japan would enact measures to limit the yen’s gains, and as Chinese manufacturing grew at the fastest pace in five years.
TECH TONIC
Sudheer Pal Singh & Jyoti Mukul / September 30, 2009, 0:41 IST
With the government having finally admitted that the current Plan period’s power capacity addition target of 78,700 Mw is likely to be missed by over 20 per cent, experts have raised concerns over the impact on the country’s economic growth.
Dampening the Christmas mood, leading steel maker Tata Steel has jacked up prices by Rs 2000 a tonne, while the state-run Steel Authority of India (SAIL) has discontinued the discounts with immediate effect, on the back of rising demand.
Finance Minister Pranab Mukherjee today ruled out an immediate withdrawal of the stimulus packages, but cautioned that too much delay in the exit would widen the fiscal deficit.
The government will take stock of Bharat Sanchar Nigam"s (BSNL) poor financial showing - wherein net profit fell to Rs 104 crore in FY09 compared to over Rs 3,000 crore a year ago - and also talk to the management for selling government stake in the telecom company.
The stock extended gains and surged to a new 52-week high of Rs 360 - up 6.5%. It finally ended at Rs 355, up 4.7%. The counter clocked comparatively heavy volumes of 15,401 shares as against its two-week daily average trade of 3,486.
Japanese car maker Toyota Motor Corp, which is coming out with a compact car by December 2010 in India, will produce 70,000 units in the first year, a top official of Toyota-Kirloskar Motor said.
Even as IT bellwether Cognizant Technology Solutions raised its outlook for 2009-10, it reported a 21 per cent growth in net profit for the quarter ended September 30, 2009, to $136.6 million compared with $112.8 million during the corresponding period a year ago.
The government will try to pass the National Green Tribunal Bill, 2009, in the current Parliament session. The Bill aims at establishing an autonomous tribunal, independent of the Ministry of Environment and Forests (MoEF), for environmental clearance of development projects and providing relief and compensation to people affected by natural calamities.
Accusing Pakistan of not doing enough to bring to book the perpetrators of the 26/11 Mumbai terror attacks, Prime Minister Manmohan Singh has said India does not know whom to deal with in Islamabad as the army is the most powerful force in the neighbouring country.
FIIs like DSP Blackrock, Prudential step in with buys.
There is a flicker of hope for Tata Motors’ abandoned Singur site. A team from government-owned Bharat Heavy Electricals Ltd (BHEL) today visited the place, along with state government officials, for a possible project with the West Bengal Power Development Corporation.
Rajesh Bhayani / Mumbai January 5, 2010, 0:06 IST
Move appears inevitable to boost localisation content, for cost control.
Auto sales numbers for almost all companies in October 2009, are in. With growth ranging between 15-60 % and teamed with impressive quarterly top line and bottom-line growth, the sector is a poster-child for the domestic growth potential.
A low-cost diagnostic tool kit that can detect the swine flu virus in just five minutes is being developed by the Indian Council for Medical Research, a top official has said.
Work on Metro projects in Hyderabad, Jaipur, Kochi is expected to start shortly.
Besides stadia, all metro rail links are also likely to be ready for use by Sep 2010
Eyeing the forthcoming Commonwealth Games in India as an opportunity to promote tourism in the state, the Haryana government has decided to introduce a bed-and-breakfast scheme.
Galleon Group LLC, the hedge fund firm at the center of a $20-million insider trading prosecution, came to the attention of prosecutors by 2001 for allegedly soliciting internal data on Silicon Valley companies.
The Supreme Court last week ruled that ‘Skyline’ is not a specific word on which a company can make a trade mark claim, as it has become a ‘generic’ name. In India 117 companies including software firms are using the word as part of their name. In the US there are 10 educational institutions with the same name as the first word. In the UK also there are two such institutions. Therefore, one company could not stake claim to the word in the name of trademark. The court made this ruling while dismissing the appeal case, Skyline Education Institute (India) Ltd vs S L Vaswani. It affirmed the judgement of the Delhi high court in this case, with minor modifications regarding admission of students to one institution. Both were educational institutions operating around the capital and they were litigating over the word ‘Skyline’.
IT services provider Hexaware Technologies today said its consolidated net profit surged by over three-fold to Rs 41.34 crore for the quarter ended September 30, against the same period in previous fiscal.
ITC has posted a 26 per cent rise in net profit after tax (PAT) of Rs 1009.91 crore for the quarter ended September 30, 2009 as compared to Rs 802.7 crore for the quarter ended September 30, 2008.
In a significant development, India has banned the import of mobile handsets without International Mobile Equipment Identity (IMEI), a unique identification number.
Cross 1-million mark on surge in commercial vehicle sales.
The country"s exports turned around in November 2009 after falling for 13 months in a row, posting a growth of 18.2 per cent to touch $13.19 billion.
As if last year wasn’t difficult enough, Baba Kalyani has said quite clearly that the current year would remain a challenging one for his company. The chairman and managing director of Bharat Forge believes it could be a while before inventories are cleared and sales revive, especially in the commercial vehicle (CV) space. The auto parts maker, a victim of the severe depression in the world automobile markets, saw consolidated sales rise just under 3 per cent last year to Rs 4,774 crore.
World"s top forging company Bharat Forge reported a sharp decline of 68.03 per cent in consolidated net profit to Rs 20.33 crore during the fourth quarter of the financial year 2008-09 as against Rs 63.6 crore posted over the same quarter a year ago.
State-run telecom operator BSNL would expand its network in naxalite-affected areas of Bihar and update facilities in the region bordering Nepal, Union Minister of State for Communications Sachin Pilot said today. "We will lay thrust on expanding our network in the naxal-hit areas of Bihar, besides updating communication facilities in the areas bordering Nepal," Pilot told reporters here.
The constitution of a tribunal to settle the dispute over Mahadayi’s waters between Karnataka and Goa, where it is called Mandovi) has come as a rude shock to the farmers of North Karnataka who were eagerly waiting for the completion of the Kalasa-Banduri nalla project.
The government today said it will soon come out with a uniform and single licence fee for telecom service provider, which is currently between 6 and 10 per cent of the revenue of these companies.
The Road Transport and Highways Ministry is set to award 58 projects worth Rs 19,000 crore for building over 7,000 km roads in various states.
India Inc today urged the Finance Minister to continue the stimulus packages till firm signs of economic recovery are visible, and also reducing the corporate tax rates.
Shriram Life Insurance (SLIC) today launched a unit linked premium plan - Shriram Pension Plan which gives clients varied options to invest their money and receive maximum returns post-retirement.
This is the third price hike in less than a month; mills will pay Rs 200-205 a quintal.
Bajaj Electricals with its order-book presently at Rs 960-crore, is aiming for a turnover and PAT in excess of Rs 2,000-crore and Rs 100-crore in FY 10, a top company official said.
Shri Renuka Sugars has acquired "Vale Do Ivai S.A Acucar E Alcool (VDI)", a Brazilian sugar and ethanol production company. The acquisition includes two sugar and ethanol production facilities located in the southern state of Parana with a combined cane crushing capacity of 3.1 mn tonnes per annum. In addition, VDI holds strategic stakes in several logistics assets including terminals for staoarge and loading of sugar and ethanol at the port of Paranagua. Larger part of the sugarcane requirements at VDI are met through its own cultivation of more than 18,000 hectares of land on long lease.
Presenting the Business Standard Motoring Awards 2010.
The Sensex has opened down 22 points at 16,826. The index is now down 25 points at 16,825.
Karnataka is likely to witness a marginal rise of about 10 per cent in sugarcane production for the next sugar season commencing October 2009. This is despite a rise in the statutory minimum price of sugarcane announced by the Centre for the next year.
Riding on all-time high realisation and a sharp jump in profitability, domestic sugar companies are looking to strengthen their balance sheet by reducing debt. Prices are at an all-time high and companies expect it to remain firm for at least the next four-five quarters.
Sugar major Bajaj Hindusthan today said it has fully utilised Rs 710 crore raised by private placement of shares for repayment of its debt in accordance with the terms of the issue.
IVRCL has announced a restructuring of its subsidiaries recently. The scheme proposes an amalgamation of IVR strategic resources and IVR Water Infrastructure, which are both wholly owned subsidiaries of IVRCL with IVR Prime urban developers, its real estate arm, where it has a 62.35% stake.
Kolkata-based Balrampur Chini Mills profit after tax for fourth quarter ending September 30, 2009 improved 193 per cent at Rs 42.7 crore from Rs 14.58 crore in the fourth-quarter last year. Net sales dropped to Rs 379.96 versus Rs 416.73 crore in the corresponding quarter in the preceding year. Earnings per share gained 192.7 per cent at Rs 1.67 as against 57 paise in the year ago quarter.
TRF, which provides material handling/processing systems and equipment, today announced a consolidated net profit after minority interest of Rs 11.92 crore for the second quarter of current fiscal.
With the revival of the job market India Inc is all set to witness a significant jump in attrition levels as well, especially in sectors like aviation, information technology and business process outsourcing, executives search firm GlobalHunt India said today.
Wants earlier rule on mills having to share extra profit with cane growers restored.
Despite uncertainties over cane pricing, sugar mills in Uttar Pradesh plan to commence crushing as early as possible, in order to avoid any recovery loss which may impact their operating performance.
Dutch financial services firm ING today reported euro 499 million profit for the third quarter, helped by strong performance in banking and insurance business.
Amid the raging controversy over the issue of bankers bonus, the Royal Bank of Scotland (RBS) has asserted that its ability to give competitive pay to the staff is essential for the company"s success.
With government formation in Maharashtra being delayed, Governor S C Jamir has called caretaker Chief Minister Ashok Chavan and Deputy Chief Minister Chhagan Bhujbal for talks.
Maharashtra is set to get a new government tomorrow as Chief Minister Ashok Chavan and his Deputy Chhagan Bhujbal are expected to take oath of office.
Sunil Jain / New Delhi October 30, 2009, 0:38 IST
With bank deposit rates in a free fall for the last one year, company fixed deposits have started finding many takers.
Indiabulls Power Ltd, partly owned by billionaire Lakshmi Mittal, got more than Rs 6,480 crore ($1.4 billion) of bids, or 5.8 times the shares being sold in its initial public offering (IPO).
The Chennai-based Indian Overseas Bank (IOB) intends to go for Business Process Re-engineering (BPR) of its operations as a performance boosting measure.
Public sector lender Bank of Maharashtra’s net profit for the July-September quarter rose 22.86 per cent to Rs 86.68 crore from Rs 70.55 crore in the same period a year ago.
The rift between Karnataka chief minister B S Yeddyurappa and his mine-owning ministerial colleagues continued as they stepped up their campaign against a new cess imposed on lorries transporting iron ore. Tourism minister G Janardhana Reddy, himself a mine owner in the ore-rich Bellary district, took the lead in holding parleys with like-minded fellow miners since yesterday to mobilise support against the Rs 1,000 cess on each lorry load of iron ore, sources close to them said here. There are 92 licenced owners of mines in the district and about 40 of them have been carrying on mining.
Karnataka government has decided to provide airlink as an added attraction to lure tourists to this year’s Dasara festival at Mysore. The state’s tourism department has decided to charter a 65-seater ATR short haul aircraft to fly passengers from Bangalore to Mysore from September 22 for five days, Minister for Tourism G Janardhana Reddy told reporters here.
Infosys BPO, the back-office unit of IT firm Infosys Technologies, today said it would hire 1,500-2,000 people by the end of the current fiscal.
Global technology and consultancy giant Accenture today said it is going to add around 8,000 people in India by the end of next year taking its total employee base in the country to 50,000.
The condition of 95-year-old marxist patriarch Jyoti Basu, who is suffering from acute pneumonia, today continued to be critical and he is being given ventilatory support, doctors attending on him said.
PROFILE
My broker has advised me to invest a lumpsum amount in a Monthly Income Plan (MIP). In the current scenario where interest rates are expected to rise, should I do so? Also, should I invest in more than one MIP for diversification?
Business Standard / New Delhi November 06, 2009, 0:34 IST
Powering its way ahead in tapping renewable energy sources for power generation, public sector power utility NTPC (formerly National Thermal Power Corporation) has set the ball rolling for its two solar thermal units of 50 Mw each in Gujarat. The company has firmed up its plans to initially install a solar power generation capacity of 100 Mw in the state, which may go up to 300 Mw at a later stage.
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker next month to do the due diligence of those properties.
However, it will file a chargesheet on company law violations
Business Standard / New Delhi October 13, 2009, 0:04 IST
Sequoia Capital India today announced that it has invested Rs 40 crore in Just Dial, a local search engine.
Sanjaya Baru / New Delhi November 4, 2009, 0:58 IST
The government has identified some public sector companies for disinvestment, but its primary focus would be to dilute equity in listed profitable companies with less than 10 per cent public shareholding, with follow-on public offerings.
Goldman Sachs Group Inc’s forecast that Brazil, Russia, India and China would eventually eclipse the Group of Seven countries economically has been described as “the biggest market call of the decade.”
The country managed a reasonable economic growth of 6.1 per cent during the first quarter of the current fiscal despite the global financial crisis impacting manufacturing and certain services like hotels.
Price may be raised to Rs 4,250 per mBtu.
Progressive global cuisine, molecular gastronomy, nameless dishes. This one is truly exclusive.
Surjit S Bhalla / New Delhi December 26, 2009, 0:41 IST
Orissa-based Shiva Cement aims to reduce carbon dioxide emission by 45 per cent through utilising direct crushing of slag and clinker at the time of grinding.
India"s economic expansion could exceed 7.75 per cent during the current fiscal, helped by high GDP growth numbers recorded during the July-September quarter, the government informed Parliament today.
The Indian Institute of Management-Lucknow is organising an ‘India SME conclave’ on December 21 to discuss the competitiveness of the sector in the backdrop of the Free Trade Agreement (FTA) era. The small and medium enterprises (SME) sector is the growth engine of the Indian economy and contributes over 40 per cent to the country’s industrial output and around 35 per cent to direct exports. The theme of the conclave is ‘Low cost financing options and the impact of FTAs on the SME sector in India’.
Market regulator Securities and Exchange Board of India (Sebi) has asked the government to consider appropriate action against Reliance Industries (RIL) for allegedly routing funds to dummy companies for buying large quantity of its shares in the year 2000.
The policy paper on the proposed Goods and Services Tax (GST) will soon be brought in the public domain.
In a bid to attract more Indian students to the US, ten universities from the US have collaborated with IDP Education, a student placement service provider.
The Committee for Determination of Terms of Reference (CDToF) under the Central Environment and Forest Department has turned down the application of Bhoruka Power Corporation Ltd (BPCL) to set up a thermal power plant at Halga village beside Hanakon in Karwar taluk in Uttara Kannada district.
Cairn India, which began production from the world class Mangala oilfield in Rajasthan in late August, has reached 1 million barrels of oil output from the nation"s most prolofic onland field.
Erasing its early gains, the rupee was trading 11 paise down at 45.73 against the dollar in late morning deals on good demand from banks for the US currency that was going strong against its other major rivals.
Oil and Natural Gas Corp (ONGC) and its partners will invest about $10 billion in two giant gas fields and an LNG project in Iran, Iranian Deputy Oil Minister Seifollah Jashnsaz said.
The government today requested the Supreme Court Bench adjudicating the gas dispute between Reliance Industries Ltd (RIL) and Reliance Natural Resources Ltd (RNRL) to avoid making any interpretation of the production sharing contract (PSC).
Indian women may not have proportionate representation in companies, but they are better off than women elsewhere. Eleven per cent of 240 large companies — Indian-owned as well as multinational, private as well as state-owned — have women CEOs, according to a study carried out by executive search firm EMA Partners. In comparison, only 3 per cent of the Fortune 500 companies have women CEOs.
With global oil rates stabilising at around $70-80, Reliance Industries, Essar Oil and Royal Dutch/Shell today joined the chorus for freeing petrol and diesel prices to give private sector a level playing field as also lower government"s subsidy burden.
India and the European Union (EU) have begun discussions to resolve the ongoing dispute over the seizure of Indian generic drugs consignments in transit at European ports. Lutz Guellner, spokesperson for the European Trade Commissioner, told Business Standard that a meeting of the EU-India Joint Customs Cooperation Committee held in New Delhi on Thursday proved “constructive” with an “open discussion of the issues” taking place.
Business Standard / New Delhi November 17, 2009, 0:10 IST
After a series of consultations with stakeholders, the government has formulated the ambitious National Solar Mission implementation plan to be launched soon.
The industry minister Raghunath Mohanty today asked the sponge iron units to adopt clean, green and sustainable technologies in their production process while assuring to look into various problems faced by them.
Mining, manufacturing grow in double digits.
The Nifty closed around 4,800 on Friday on short-covering by foreign institutional investors (FIIs) and strong global cues. However, the trading pattern on the F&O segment suggests that the index may face strong resistance above the 4,800 level. Technically, the Nifty has to cross its Friday high of 4,835 to keep its bullish momentum. If the index slips below its Friday low of 4,755, it may revisit the recent low next week. The SGX Nifty (November futures) closed at 4,767 as against its Friday close of 4,797 indicating weak opening on Monday.
Trades between FIIs generated a volume of Rs 107 crore on the BSE Friday-an increase of 39.82% from Rs 77 crore clocked on Thursday. As many as seven stocks witnessed trades of 20 lakh shares on Friday.
The Securities and Exchange Board of India (Sebi) today gave stock exchanges the freedom to set the expiry day for their equity derivatives contracts. Earlier, the regulator had set the last trading Thursday of every month as the expiry day for derivative contracts.
A committee set by the Petroleum Ministry to probe into the causes of the devastating fire at the IOC depot near here began its inquiry today by visiting the site.
3 Idiots has passed the cinegoer’s test with flying colours. The Aamir Khan-starrer raked in Rs 12.5 crore on Friday. Experts estimate the movie to net Rs 40 crore over the first weekend from the box office, with gross collections of Rs 65 crore. Khan’s last release, Ghajini, earned around Rs 40 crore net in the first four days, since the movie released on a Thursday. Aamir Khan said: “The response is huge, we are still gathering the enormity of opening collections. To match Ghajini’s opening day collections is something, to surpass Ghajini is completely overwhelming.”
Sunil Jain / New Delhi October 30, 2009, 0:38 IST
Business Standard / December 27, 2009, 0:21 IST
India and China have not only agreed to act to cut down emissions but are also willing to be accountable for their action, Australia"s environment minister has said.
This is the first in a series on water woes faced by the country’s biggest cities and the lack of strategy to deal with the crisis that bothers every household.
Haryana Finance Minister Capt Ajay Singh Yadav has directed the financial commissioner and principal secretary, urban local bodies, that the matter could be taken with the Government of India to increase the allocations under JNNURM and Urban Infrastructure Development Scheme for Small and Medium Towns (UIDSSMT). The finance minister was reviewing the progress of central sponsored schemes with the officers of finance, public health and urban local bodies department. These schemes were being launched in the state for the welfare of all sections of society.
Some of the operators plan to move court.
Rajat Roy / New Delhi November 22, 2009, 0:36 IST
Uttar Pradesh today organised an investors’ conclave in Mumbai, ‘Invest UP’, to promote ‘Brand UP’ before top industrialists and business houses of the country.
Rises only 2% from Q1, with cement, oil & gas, power, telecom all holding back.
The Kaiga atomic power station (KGS) Unit I, which was shut down for annual maintenance, would be restarted in a couple of days while two other units continue to feed the southern grid, a top NPCIL official said today.
Municipal Corporation of Greater Mumbai (MCGM) would regularise water connections to slums in the city that came up before 2000. The decision comes in the wake of an announcement made by Chief Minister Ashok Chavan to regularise water connections to pre-2000 slums.
Indian civil society organisations have opposed a reported move by global drug procurement agency UNITAID to exclude countries such as China, Brazil and India from a proposed patent pool for AIDS drugs.
Indian consumer durables major Videocon Industries has decided to buy Finnish company Elcoteq, engaged in contract manufacturing of mobile phones and other electronic items, in a deal estimated at around $73 million.
The stock recovered some of its losses to finally end at Rs 258, down over 2% from the previous close. Around 691,753 shares were traded on the BSE as compared to the two-week daily average traded volumes of 698,158 shares on the BSE.
India’s second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.
Citigroup Inc, Marshall & Ilsley Corp and Huntington Bancshares Inc ended 2009 with the biggest drops in the Standard & Poor’s 500 Index, weighed down by defaulting property loans that may add to their declines this year.
The rate war in Indian telecom has shifted to short messaging services (SMSes). Reliance Communications today announced a plan under which both pre-paid and post-paid subscribers of its GSM and CDMA services would be charged 1 paisa per SMS, if they paid Rs 11 a month.
Business Standard / New Delhi November 03, 2009, 0:48 IST
Software product development company GlobalLogic plans to double its total revenues in three years by growing at a compounded average growth rate (CAGR) of 40 per cent, through increased focus on research and development in telecom, homeland security and medical electronics.
Fortis Healthcare today said it has completed the acquisition of 10 Wockhardt hospitals in metro cities of Mumbai, Bangalore and Kolkata for Rs 909 crore.
Philip Healthcare today said it will set up 130 sleep labs in various hospitals and clinics in the country by the end of 2010, besides creating awareness about sleep disorders and the problems related to it.
Contract research services provider, GVK Biosciences today said it has entered into a strategic partnership with US-based Quantitative Solutions (QS) to develop and market clinical trial outcome data base.