evirtualpie

Satyam to share financials with potential buyers 26-MAR-09 Satyam will share the financial details of the past 2-4 months with the interested buyers on completion of preliminary due diligence of expression of interests (EoI) by suitors which include Spice Group, L&T, Tech Mahindra, among others. CBI pitches for lie-detector test on Raju 26-MAR-09 CBI today pitched for a lie-detector and other scientific tests on Satyam Computer's disgraced founder B Ramlinga Raju, alleging that the accused was still holding back certain facts about the accounting scam in the company. ONGC to launch IPO of OPaL in 2011 26-MAR-09 State-run Oil and Natural Gas Corporation (ONGC) will launch an initial public offering (IPO) of a unit building a mega petrochemical plant at Dahej in Gujarat in 2011, even as a separate project that was to produce feedstock for the Rs 12,440-crore plant has been delayed by 10 months. LG Electronics bags ICWAI award 26-MAR-09 Consumer durable major LG Electronics India today said it has bagged the 'Excellence in Cost Management' award given by the Institute of Cost and Works Accounts of India (ICWAI). Shipping Corporation to buy 40 more ships by 2012 26-MAR-09 The company is also in talks with several Korean companies for setting up world-class shipbuilding yards. Canadian broadcaster CBC to cut 800 jobs 26-MAR-09 Canada's national public broadcaster Canadian Broadcasting Corp (CBC) will slash as many as 800 jobs in the coming months. Diversified interests helping us counter slowdown: Godrej 26-MAR-09 Diversified interests in different segments have helped the Godrej & Boyce tide over the economic slowdown, said a top official of the company. ONGC shelves investment plans in Imperial Energy 26-MAR-09 The Oil and Natural Gas Corporation (ONGC) has deferred investments in Imperial Energy Plc to raise crude oil production and will rather consolidate the western Siberian operations of the UK-based firm it acquired recently. Rel Money ties up with Kuoni India to retail forex product 26-MAR-09 Reliance Money, part of the Reliance Anil Dhirubhai Ambani Group, has tied up with travel company Kuoni India to set up shop-in-shops at all the Kuoni and SOTC outlets across the country. Independent directors: Clause 49 is fine, bug lies in appointments 26-MAR-09 Even as corporates generally appreciate the prescribed corporate governance norms set out in Clause 49 of the Listing Agreement, a Grant Thornton-Ficci study reveals the bane of the issue relating to the availability of independent directors is in the process companies adopt to appoint them. Daimler-Hero JV to see minor 'tweaking' amid slowdown 26-MAR-09 New Delhi, Mar 26 (PTI) Munjals-promoted Hero Group today said there could be some 'tweaking' in its joint venture with Germany's Daimler AG to produce commercial vehicles in India due to the economic downturn. Tata Motors appoints V K Jairath as Addl Director 26-MAR-09 In a filing to the Bombay Stock Exchange Tata Motors said, Jairath, who was an independent director on the board, has been appointed as an Additional Director. Tata Nano may have marginal impact: Maruti 26-MAR-09 The country's largest car maker, Maruti Suzuki India, today said that "Tata Nano" may have a marginal impact on the sales of its entry level small car Maruti 800 but ruled out cutting its price. HCC sees 17% jump in orders during Mar 08-09 26-MAR-09 "Our order book has gone up from Rs 10,000 crore to Rs 17,000 crore from the period between March last year to March this year," Hindustan Construction Company Chairman (HCC) and Managing Director Ajit Gulabchand told reporters on the sidelines of CII annual session here today. Raheja's 30,000 houses at Rs 4-25 lakh in NCR 26-MAR-09 Realty player Raheja Developers will build up to 30,000 apartments in the affordable housing category in the National Capital Region in the next two years, which will be offered at Rs 4-25 lakh. IBM to fire 5,000 US workers; India to benefit 26-MAR-09 International Business Machines Corp plans to lay off about 5,000 US employees, with many of the jobs being transferred to India, a media report said today. Spice undecided on Satyam bid 26-MAR-09 The board of spice Corp which met late yesterday night is in the process of taking a call whether to go ahead with the bidding for Satyam or not, given its apprehension about the lack of transparency. Tata Tea to buy majority stake in Russian firm 26-MAR-09 Known for its acquisition-led strategy, India's second-largest branded tea company Tata Tea has made inroads into Russia (after the US and UK) -- the world's third largest tea market by volumes. DoCoMo completes acquisition of 26% stake in TTSL 26-MAR-09 Japanese Telecom major NTT DoCoMo today completed acquisition of 26 per cent stake in Tata Tele Services for $2.7 billion valuing the company at $10.38 billion (over Rs 50,000 crore). Mallya's Whyte & Mackay appoints industry veteran as CEO 26-MAR-09 Beard will lead the distiller's expansion plans in both domestic and international markets. TCS on cost cutting mode, cuts staff travel 25-MAR-09 Tata Consultancy Services (TCS) has adopted measures like avoiding travel where possible, and moving people from abroad to India to cut costs, a senior official of the company said here today. Two Tata cos raise over Rs 700 cr from TTSL stake sale 25-MAR-09 Two Tata group companies today raised a total of Rs 741.72 crore by selling part of their stake in Tata Teleservices (TTSL), the privately held flagship telecom business of the group. S&P lowers Tata Motors' credit ratings 25-MAR-09 Global rating agency Standard & Poor's (S&P) today downgraded auto major Tata Motors' credit ratings saying the company was facing deteriorating cash flow and an adverse operating environment. Essar to acquire 50% stake in Kenyan refinery 25-MAR-09 Ruias-owned Essar will take a 50 per cent stake in Kenya's only refinery in Mombasa, the African nation's Energy Minister Kiraitu Murungi said today. India's Top 500 cos' FY08 debt at Rs 5.5 lakh cr: D&B 25-MAR-09 The total debt of India's top 500 companies in FY 2008 grew by over 11 per cent to Rs 5,54,380 crore, which will be a major concern for the leveraged firms as servicing this debt would be challenging, research firm Dun & Bradstreet said. Hyundai, Bank of Baroda in auto finance JV 25-MAR-09 Hyundai Motor India (HMIL), the country's second largest car maker, today announced its partnership with public sector lender Bank of Baroda (BoB) to provide financing facility to its customers. JSW Steel to spend more on CSR initiatives 25-MAR-09 JSW Steel, one of the top steel producers of the country, will be increasing its expenses on CSR activities in the next fiscal by allocating 1.5 per cent of its net profit towards such initiatives. Adani Wilmar to double refining capacity over 3-year period 25-MAR-09 Adani Group-promoted edible oil manufacturing company, Adani Wilmar, has plans to double its refining capacity along with enhancing its oilseed crushing capacity over the next three years, a top company official said. Australia's Qantas cuts 90 management jobs 25-MAR-09 Australia's Qantas announced today it was slashing 90 senior positions and said those kept on would have to take on more responsibilities as the airline battles the global financial crisis. HC asks Sebi to probe Bhushan Group stake purchase in Osil 25-MAR-09 The Orissa High Court has directed the Securities and Exchange Board of India to investigate Neeraj Singhal-led Bhushan Group's stake purchase in Orissa Sponge Iron & Steel Ltd and has suspended its voting right in the secondary steel producer.