COMPANIES & SECTORS


Moneylife Digital Team 21 May 2013
For a second time, Phaneesh Murthy has been sacked over charges of sexual harassment ending a stunning comeback by the marketing expert Phaneesh Murthy, the once upon a time blue-eyed boy of the information technology (IT) industry has been sacked by iGate Corp, after having to quit...

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Moneylife Digital Team 20 May 2013
In a note for the Cabinet Committee on Economic Affairs, the ministry has proposed raising gas price for state-run firms immediately and that for RIL from April 2014   The oil ministry has moved a Cabinet note to raise the price of natural gas produced by state-owned ONGC and OIL as...

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Moneylife Digital Team 20 May 2013
COAI said airwaves to TTSL were allocated following two press releases issued by DoT on 10 January 2008. The Supreme Court cancelled allocation of spectrum through these press releases and other subsequent allocation   The Cellular Operators Association of India (COAI), and industry...

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Moneylife Digital Team 20 May 2013
The Bangalore-based software services exporter is already contesting additional I-T demands of $214 million (about Rs1,175 crore) for four fiscals years beginning 2005 and said it will take legal recourse against the fresh tax demand notice as well   The Income Tax (I-T) department...

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Moneylife Digital Team 17 May 2013
Despite an increase in its tobacco/cigarette division, the company is sceptical of the government’s decision to tax tobacco products. Other segments, however, have done well and are poised for growth   ITC, a leading conglomerate and fast moving consumer good company, posted a net...

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Moneylife Digital Team 17 May 2013
The company has reported steady ad revenues as well as increase in DTH subscribers. It has also reported decent net profit and net sales Sun T V Networks, a south India based media and broadcasting company, has reported Rs472.67 crore net sales for the quarter ended March 2013, up 11%...

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Moneylife Digital Team 17 May 2013
Passing an interim order, a COMPAT bench asked 11 cement producers along with their lobby group Cement Manufacturer’s Association (CMA) to pay around Rs630 crore within a month The Competition Appellate Tribunal (COMPAT) today directed cement companies to pay 10% of a Rs6,307 crore...

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Moneylife Digital Team 17 May 2013
Promoters of Richa Industries are trying to take advantage of its low share price by making a preferential allotment to certain chosen entities. This will leave minority shareholders of the textile company in the lurch. Will the market regulator act? Richa Industries has decided to issue...

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Moneylife Digital Team 17 May 2013
Pandit, who had an unceremonious exit from Citigroup last year, also plans to make investments in JM Financial’s NBFC. He will also set up a $100-million distressed asset fund along with JM Financial Beginning a new innings, former Citigroup chief Vikram Pandit will spearhead Nimesh...

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Moneylife Digital Team 16 May 2013
Alkyl Amines Chemicals saw higher cost of raw materials and finance costs put a dent on its bottomline despite rise in net sales   Alkyl Amines Chemicals has posted 20% year-on-year (y-o-y) increase in net sales which jumped from Rs80.33 crore recorded in the March 2012 quarter to...

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Moneylife Digital Team 16 May 2013
J&K Bank has put in one consistent quarter after another, and the March 2013 quarter is no less an exception. It has reported 24% increase in net revenues and has announced 500% dividend on the occasion of its platinum jubilee year   The Bombay Stock Exchange (BSE) and NSE-listed...

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A Banker 15 May 2013
The market is merciless in evaluating bank performance and corporate governance standards. If the government does not wake up to streamline entire system of appointment of Directors, all of us may have to repent in leisure   The discovery that Sunil Gupta, a director on the board of...

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Moneylife Digital Team 15 May 2013
Kejriwal alleged that Sibal has a 'conflict of interest' in the case involving Vodafone as his lawyer son Amit 'continues to defend' Hutchinson Arvind Kejriwal led Aam Aadmi Party (AAP) on Wednesday alleged that soon after taking charge as law minister, Kapil Sibal has overturned his...

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Moneylife Digital Team 15 May 2013
Health officials have revoked Johnson & Johnson’s (J&J) licence to make cosmetics at a plant in Mulund (outside Mumbai) after they discovered that the company had used an unauthorised process for sterilising its baby powder, according to a newpaper report. No consumer complaints or adverse...

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Moneylife Digital Team 15 May 2013
During 2007-2008, Delhi-based Ashutosh Sinha was badgered with innumerable telemarketing calls by direct selling agents (DSAs) of the Hong Kong and Shanghai Banking Corporation (HSBC). Incidentally, HSBC had rejected Mr Sinha’s application for a credit card and then wanted to sell him ‘other...

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Moneylife Digital Team 15 May 2013
A consumer court in Ahmedabad imposed a fine of Rs20,000 on Pepsico Holding India Pvt Ltd after its soft drink was found contaminated. The complaint against the company was filed by Gautam Trivedi who purchased a bottle of soft drink for Rs15 from Mahalaxmi Nashta House in Naroda. He also got...

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Moneylife Digital Team 15 May 2013
NTPC has withheld payment of Rs25.3 billion on account of the impasse on the quality of coal received (as admitted by NTPC) versus coal supplied (as billed by Coal India), points out Nomura Equity Research in its Quick Note State-owned power utility major NTPC has proposed a final...

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Moneylife Digital Team 15 May 2013
Given that the tariff applies from November 2008, GAIL will have to return excess tariff/ship-or-pay charges to customers, says Nomura Equity Research in its First Look note   The Petroleum and Natural Gas Regulatory Board (PNGRB) has made it clear that the approved tariff for the KG...

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Moneylife Digital Team 14 May 2013
  The B-787s have remained grounded since 17th January after a fire in the lithium-ion batteries of a parked plane in Boston and a case of forced landing of another B-787 for the same reason in Japan   Government-owned national carrier Air India is expected to resume domestic...

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Moneylife Digital Team 14 May 2013
While the long-term picture for Nestle India is still intact, near-term growth concerns will weigh the company’s stock down, says Nomura Equity Research   Nestlé India's revenues and adjusted net profit growth of less than 10% during the March quarter continue to be underwhelming...

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