Paramita Bannerjee

ONGC uneasy on ownership in deal

Cairn’s principal joint venture partner in India is Oil and Natural Gas Corporation (ONGC). It is, however, both in its producing fields and in the exploratory assets. ONGC is troubled over the prospective ownership change at its partner. It is c... Read >

Shoppers Stop sees Q-1 same store sales rise 20%

Retail firm - Shoppers Stop is eyeing for a surge of 20 % in sales for the Q-1 of the current financial year (2010-11) as compared to the previous financial year. Besides, company's CEO Mr. Govind Shrikhande said that an announcement regarding Shoppers... Read >

ITC proposes issue of bonus shares to celebrate centenary

ITC Ltd. is eyeing to issue bonus shares to the shareholders of the company in the ratio of 1:1. The extra shares would be issued to the shareholders to celebrate the centenary year of the company. However, the bonus share is subject to the approval... Read >

Bharti Airtel keen on investing in Uganda

Bharti Airtel is eyeing to make an investment of around $100 mn in Uganda by 2012. Mr. Manoj Kohli, Joint MD of Bharti Airtel has said Bharti would make an investment of around $100 mn, where a portion of it would go towards network expansion, distribu... Read >

Acquisition of Biovel Lifescience by Ranbaxy

Ranbaxy Laboratories has gone on record saying that it will acquire Bangalore-based Biovel Lifesciences for an undisclosed amount. The proposed transaction will give Ranbaxy access to all of Biovels products, pipeline, intellectual property know-how and m... Read >

Sesa Goa's Capital Expenditure Plan

Optimistic about the mining business in the near future, Sesa Goa, is planning to spend nearly Rs. 1,500 crore in its mining business, over the next two years, to accomplish the annual production capacity of about 50 mn tonnes. Mr. P K Mukherjee, MD of... Read >

NTC to modernize operations

The Rs 5,000 crore recovery plan of National Textile Corporation (NTC), that was approved 5 years ago, is finally set to start. Presently, NTC is modernizing its mills across Maharashtra and is exploring setting up new factories to tap growth in the $49 b... Read >

BHEL eyes Acquisition, Joint-Ventures in US & Europe

Bharat Heavy Electricals (BHEL) is eyeing an acquisition or a joint venture (JV) partnership with companies from the US and Europe. The company will look for companies that are engaged in new transmission as well as ultra super critical technologies to ta... Read >

Suzlon wins repeat orders from ITC Limited

The world's third largest wind turbine maker today announced the signing of repeat orders with ITC Limited, a leading and highly diversified conglomerate, to set up, operate and maintain two new wind power projects in the states of Karnataka and Maharasht... Read >

Shakti Pumps firms up on buyback of FCCB

Shakti Pumps is surging high in the trading sessions on the back of reports that the company had raised USD 06.50 million of Foreign Currency Convertible Bonds (FCCB) on May 03, 2007 for a tenor of 05 years & 07 days with a maturity date of May 10, 2012. ... Read >

Ranbaxy launches New Chemical Entity (NCE)

Ranbaxy Laboratories Limited (Ranbaxy) announced today thai the Company has launched a New Chemical Entity (NCE), Lulifin (Luliconazole), in the Indian Dermatology market. This follows a strategic in-licensing agreement with Summit Pharmaceuticals Interna... Read >

Polaris Software and Intelect Global Universal Banking (GUB) reassessed at CMMi LEVEL 5

Polaris Software Lab Limited, a leading Financial Technology Company, announced the achievement of SE1 CMMI Version 1.2 Level 5 Certification, the highest level of quality and process maturity appraisal in the industry for Software Services, Intellect Glo... Read >

Nabard launches six projects in Karnataka

For the integrated development of tribals in Karnataka, The National Bank for Agriculture and Rural Development (NABARD), has launched 6 new projects in the state. It had already increased the amount of its Tribal Development Fund (TDF) to Rs 600 crore ... Read >

Petrobras to exit ONGC''s gas block

Petrobras, Brazil''s state-controlled oil firm, has announced to quit Oil and Natural Gas Corp''s (ONGC) prolific gas discovery block in the Krishna-Godavari basin as it wants to divest its 15% stake in KG-DWN-98/2 to ONGC, and wants to concentrate on dev... Read >

Mercedes India sales slips over 10%

With a decline of 10.43 per cent in sales in the country for the last year, Mercedes, the German luxury car manufacturer, today said that it has lost leadership position in the premium segment in India to rival BMW. However, with a series of launch thi... Read >