Supreme Court notice to LandT on NHAI plea Saturday, Oct 10 2009

Supreme Court notice to LandT on NHAI plea

The Supreme Court has issued a notice to construction firm Larsen and Toubro (LandT) on the basis of free ring tones a special leave petition (SLP) filed by the National Highways Authority of free ring tones India (NHAI). The highway authority’s appeal is against an order passed by the Orissa High Court, according to which NHAI was permitted to encash only 50% of free ring tones the unconditional and irrevocable bank guarantees furnished by LandT.

The court had also ordered that the balance 50% of free ring tones the amount of free ring tones the bank guarantee shall be reinvested in fixed deposit and shall not be encashed until the dispute is resolved. LandT had furnished bank guarantee valuing to Rs 6.7 crore excluding interest as security against payment of free ring tones price escalation to be made by NHAI. NHAI in its SLP contended that the order of free ring tones the Orissa High Court was passed without taking into account the law laid down by the apex court regarding the right of free ring tones a beneficiary with regard to encashment of free ring tones unconditional and irrevocable bank guarantees.

The bank guarantee or discretionary advance was given by LandT as security against payment of free ring tones price escalation for executing a Rs 258-crore contract for widening of free ring tones four to six laning, including strengthening of free ring tones the existing two-lane carriageway, of free ring tones the NH-60.

Leave a Response »

 

ATandT and Telstra seek to re-enter India Saturday, Oct 10 2009

ATandT and Telstra seek to re-enter India

The world’s largest communications firm, the

Leave a Response »

 

Fuji Film eyes 40% jump in India sales Saturday, Oct 10 2009

Fuji Film eyes 40% jump in India sales

By fe Bureau

Fuji Film India Pvt Ltd, a subsidiary of free ring tones the

Leave a Response »

 

Pyramid offloads 40% in production arm Saturday, Oct 10 2009

Pyramid of free ring tones floads 40% in production arm

By R Ravichandran

Amid a severe financial crunch coupled with the controversy surrounding SEBI s indictment on its alleged involvement in stock manipulation, Pyramid Saimira Theatre Ltd (PSTL) has identified a strategic partner for its production arm. The company, which has recently undergone a restructuring exercise to help each of free ring tones its entities stand independently on their own strength, has divested 40% stake in its production arm, Pyramid Saimira Productions International Ltd (PSPIL), to the RDB group, a Kolkata-based diversified group with interests in real estate, cigarettes, retail outlets, financial servicds, power transmission etc. We will continue to look at such strategic partners for our exhibition, distribution and marketing entities, PS Saminathan, managing director, PSTL, said. Talking about valuation, he said, We have not yet valued our production entity. But as a pre-issue valuation, we have decided to divest 40% in the production entity for Rs 40 crore to RDB group. Both the companies will look at listing the entity as and when market revives. According to Saminathan, The move will help in partially meeting our financial requirements while bring in confidence among shareholders and investors alike. The production has been capitalised with Rs 53 crore investments so far, he said. It is significant to note that irrespective of free ring tones the difficult times and the controversies surrounding it, Pyramid could able to bring in a strategy partner for one of free ring tones its entities Saminathan said. As per the agreement with RDB group, both the companies will jointly produce 28 feature films and 1,800 hours of free ring tones television content in the 2010-11 fiscal, with a focus on the four south Indian lanuguages. We will make films only in the south Indian lanugages; the company is producing 17 films which are expected to be released in the next few months, he added. The company has 245 theatres in the southern states of free ring tones Tamil Nadu, Karnataka, Kerala and Andhra Pradesh compared to 750 a year ago. Till about a year ago these threatres had high footfalls, but things changed dramatically after that. On the upside, we have been witnessing a steady rise in footfalls over the past couple of free ring tones months or so, he pointed out.

Leave a Response »

 

Software firms to tell about a better quarter and flat earnings Saturday, Oct 10 2009

Sof free ring tones tware firms to tell about a better quarter and flat earnings

By Surabhi Agarwal

The spell of free ring tones uncertainty on India s

Leave a Response »

 

HDFC sees RBI rate hike in March qtr Saturday, Oct 10 2009

HDFC sees RBI rate hike in March qtr

Housing Development Finance Corp, India’s top mortgage lender, expects the RBI to raise interest rates in the March quarter on inflationary concerns, its chairman said on Wednesday.

“It would be a token, marginal hike. It is just to give a signal that the government and the central bank is concerned about inflationary pressures,” Deepak Parekh said on the sidelines of free ring tones an industry conference.

He said a jump in residential prices was a concern on initial signs of free ring tones demand reviving.

Indian real estate firms have been quick to raise prices by 15-20 per cent in the past two months as residential demand picked up after a slump of free ring tones more than a year and as mortgage rates stayed low.

Leave a Response »

 

Raymond eyes big revenue from small towns Saturday, Oct 10 2009

Raymond eyes big revenue from small towns

Targeting smaller cities, Raymond Ltd plans to open 300 retail stores in Class IV and Class V cities by March 2011, taking the total number of free ring tones “The Raymond Stores” to 800 across India. The apparel major is targeting an additional annual revenue of free ring tones Rs 200 crore through the new outlets.

Raymond, which sells Manzoni, Park Avenue, Parx and ColorPlus brands, opened 50 new stores in September alone.

Raymond Ltd CMD Gautam Hari Singhania told FE, “Most of free ring tones our new stores would be across smaller towns, which typically have a population of free ring tones five lakh or less. Rise in per capita consumption, increasing consumerism across India and increased penetration in smaller cities are factors for rapid expansion of free ring tones the consumer industry in India.” The company plans 1,500 sq ft stores in towns like Bijapur, Ahmednagar, Bellary, Mandya, Ghoti, Ambezogai and Bhandara, among others.

He added that his company will invest Rs 100 crore between April 2009 and March 2011, of free ring tones which Raymond would contribute 50% and the remaining would be borne by the franchisees. The expansion drive will add about 4,50,000 sq ft of free ring tones additional retail space. The company also plans to introduce new products at various price points.

Looking to expand abroad as well, Singhania said the company has 36 stores outside India and plans to penetrate more in the Middle-East market. International operations contribute 20% of free ring tones the company’s revenue. The company’s exports have grown 20% on a year-on-year basis.

On the firm’s plans to foray into the realty business, particularly in Thane, Singhania did not give any details regarding the investment or time frame for the affordable housing projects that the company plans to undertake. Meanwhile, shares of free ring tones the company plunged 1.66% to close at Rs 195.75 on the BSE (^BSESN : 16642.66 -200.88) on Tuesday.

Leave a Response »

 

Central Bank to recruit 2,500 staff, revamp offices Saturday, Oct 10 2009

Central Bank to recruit 2,500 staff, revamp of free ring tones fices

In a bid to reposition itself among the techno-savvy customers, Mumbai-based Central Bank of free ring tones India has unveiled a massive plan to induct young workforce and refurbish all its branches across the country.

Plans are afoot to invest in upgrading the technology infrastructure of free ring tones the bank by December 2010. The bank is expected to cover all its 3,550 branches under core-banking solution platform.

Pradeep Ramnath, executive director of free ring tones Central bank of free ring tones India, said, “In the next six months, we are going to refurbish at least 100 branches of free ring tones our bank at an investment of free ring tones Rs 5-7 crore.” The bank is expected to spend Rs 175-250 crore to revamp all its branches across the country.

Also, the bank is in a recruitment spree to reduce the average age of free ring tones its current workforce. Arun Kaul, executive director of free ring tones the bank, said, “The current average age of free ring tones 36,000 staffers of free ring tones our bank is 53-55 years. Our endeavor is to reduce it down to 40 years. This is the first massive recruitment drive undertaken by our bank in the last 22 years. The bank carried out its last major recruitment exercises in 1984 and 1987.”

In the second quarter of free ring tones the current fiscal, Central Bank of free ring tones India recruited 52 MBAs from reputed institutes of free ring tones India on a contract basis. “Their salary structures are almost at par with the remuneration packages enjoyed by their contemporaries working in the private sector banks,” Kaul said. Central Bank of free ring tones India has planned to recruit 1,000 clerks, 800 middle-level managers and 700 probationary of free ring tones ficers in the current fiscal.

“It would be a continuous process every year as a part of free ring tones our new HR strategy to induct young workforce in the bank. We will thus be able to do a proper succession planning in the bank as envisaged by the senior management,” Kaul said.

Leave a Response »

 

Tata Steel India Q2 sales up 19 pct Saturday, Oct 10 2009

Tata Steel India Q2 sales up 19 pct

Tata Steel (TATASTL.BO : 532.6 -2.5), the world’s eighth-largest steel maker, said on Wednesday steel sales from its Indian operations rose 19 per cent in July-September from a year earlier to 1.46 million tonnes.

Sales for the first half of free ring tones the financial year that began in April rose 21 per cent from a year ago to 2.88 million tonnes, the company said in a statement.

The Indian operations account for about a quarter of free ring tones the group’s total annual global capacity of free ring tones 30 million tonnes, which includes unit Corus, Europe’s second-largest steelmaker.

Sales of free ring tones long products, used in construction, jumped 49 per cent in April-September from a year earlier, the company said.

Leave a Response »

 

Bharti eyes Millicom’s Sri Lanka assets Saturday, Oct 10 2009

Bharti eyes Millicom’s Sri Lanka assets

Bharti Airtel (BHARTIARTL.BO : 343.15 8.5), India’s leading mobile operator, is considering a bid for Millicom’s assets in Sri Lanka, Chief Executive Manoj Kohli said on Wednesday.

“We are considering it… that much I can say,” Kohli said.

Sweden’s Millicom has put its mobile operations in Sri Lanka up for sale.

Leave a Response »