Business

New Delhi, June 08: The country’s top IT firm, TCS, has enhanced total pay packages of its top management personnel and board members by over Rs 1 crore in the process giving a better hike to its incoming CEO than his predecessor.

The Tata group entity paid a total remuneration of Rs 12.80 crore to its key management personnel and board members during 2008-09, up from Rs 11.08 crore in the previous fiscal.

In terms of total package, CEO S Ramadorai was the highest paid executive with a total remuneration of Rs 4.1 crore in the fiscal, according to TCS’ annual report.

Ranchi, June 07: Bokaro Steel Plant has planned to shave off up to Rs.225 crore in expenditure this fiscal on account of rising input costs and declining profits, according to a top company official.

“Profits came down as we had to bear an additional Rs.1,864 crore outgo because of rise in coal prices. It could have crossed Rs.3,000 crore if international prices had remained stable,” company managing director V.K. Srivastav told reporters in Bokaro today.

The company imports 80 percent of its coal requirement.

Mumbai, June 05: Bajaj Auto, the country’s second largest two-wheeler manufacturer, has reported 8.1 percent fall in its motorcycle sales last month.

The company said in a statement Thursday that it sold 165,049 motorcycles last month as against 179,649 vehicles in May 2008.

Cumulative sales, including exports and three wheelers, stood at 185,341 units, 8.02 percent down from 201,511 units sold in May 2008.

Exports last month declined 2.5 percent to 58,682 units from 60,215 exported in the corresponding month last year.

Mumbai, June 05: The Bombay Stock Exchange benchmark Sensex rose by 133 points in initial trade today, extending yesterday’s rally, on sustained buying by funds and retail investors buoyed by hopes that the Government will revive the economy by boosting investment and accelerating reforms.

Buying activity also picked up on firming global markets as renewed hopes that the economy is reviving.

The 30-share index, which had gained 137.78 points in yesterday’s highly-volatile session, shot up by another 133.08 points to 15,141.76, as metal, PSU and capital goods sector stocks rose.

Mumbai, June 02: A key index of the Indian equities markets soared soon after the opening bell today, rising over 133 points within 15 minutes.
The benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened at 14,942.2 points, above Monday’s close of 14,840.6. Within 15 minutes, it had risen to 14,974.3 points, 133.7 points or 0.9 percent above the last close.

At the same time, the S&P CNX Nifty index of the National Stock Exchange (NSE) stood at 4,558.55 points, 28.65 points above its last close.

Mumbai, June 01: As the wheels of fortune roll on, winners turn losers and losers, winners. With the gush of foreign money chasing stocks, the worst performers have beaten the odds and mutual fund schemes, which were blamed for destroying investor wealth, have doubled their wealth (or whatever was left of it) in less than three months.

Infrastructure, mid-cap, and banking are the three prominent categories of funds among the top return-earners in the post-March rally.

New Delhi, May 30: The Government will consider deregulating petrol and diesel prices, Mr Murli Deora, said on Friday after taking over as Minister of Petroleum and Natural Gas for a second term.

“The issue of deregulation is being discussed and it will be put up to the Cabinet for a decision,” he said, adding that a decision on the issue would be taken in about six weeks.

Mumbai, May 26: The possibility of an affordable home not only eludes the vast middle class in the private sector, but also the Central public sector employees across the country, reflecting the gross shortage of houses.

New York, May 25: General Motors Corp on Friday borrowed another $4 billion from the U.S. Treasury and won a cost-cutting deal from Canadian auto workers as a showdown with bondholders set the stage for a bankruptcy filing by the end of the month.

The latest emergency funds extended by the Obama administration take the total government funding to keep GM afloat since the start of the year to $19.4 billion.

New Delhi,May 18: Samsung has announced to launch its N110, NC20, N120 and N310 mini notebook series in the Indian market. These notebooks would be available in the market at a price range of Rs 23,639 to Rs 1,15,000.

The new range of mini notebooks come with features like LED backlit displays for brighter pictures and lower power consumption. It comes powered with USBand spill-proof keyboard.

Samsung India Electronics Director-IT Business Ranjit Yada, said “We are looking at Mini Notebook segment as clear growth driver for our mobile computing business going forward.”

MUMBAI, May 14: Sugar producer Bajaj Hindusthan Ltd (BJHN.BO: Quote, Profile, Research) on Thursday said its board has approved issuing 14.5 million warrants to the promoters.

The warrants entitle its holder to one share each at a price of a minimum of 52.14 rupees each.

Shares in Bajaj Hindusthan were trading up 0.38 percent at 106.50 rupees in a weak Mumbai market.

New Delhi, April 15: Nirmal Bang Research is bullish on State Bank of India (SBI) and maintained ‘Buy’ rating on the stock to achieve a target of Rs 1265.

Traders can buy the stock on dips with a stop loss of Rs 1240.

Shares of the company, on Monday (April 13), closed at Rs 1217.90 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 130.14 and 9.51 respectively. The share price has seen a 52-week high of Rs 1840 and a low of Rs 894 on BSE.

Mumbai, March 27: The state-owned Punjab National Bank (PNB) feels it would be difficult to lower lending rates any further if the government did not slash interest rates on existing deposits.

New Delhi, March 26: India appears to be set for a deflationary phase with Inflation hitting 30 year low at 0.27 percent even as prices of some essential commodities like cereals and vegetables rose during the period.

The figures released on Thursday were for the week ended March 14, down from 0.44 percent recorded for the earlier week.

However, despite the remarkable drop in inflation rate, there is still no significant drop in consumer price index (CPI), which relates to the prices of consumer goods including fruits and vegetables.

Banglore, March 25: As hundreds of young people graduating in engineering and management in India’s IT hub feel the heat of the global financial meltdown, they are united on one issue – vote in the Lok Sabha polls and vote for those with the best economic recovery plan.

With fewer job offers and lower compensation this year at the summer campus placements, talk among young Bangaloreans centres on the five-phase polls beginning April 16.

Only by electing right candidates can the future become secure. That is the view that dominates the discussion over coffee at a popular hangout.

Colombo, March 22: An International Monetary Fund (IMF) team is to hold talks with Sri Lanka Sunday and finalise its request for a $1.9 billion standby loan to prop up the country’s dwindling foreign exchange reserves, media reports here said.
Responding to reports that conditions may be attached to the IMF loan, a Central Bank official said that there had ‘so far been no talks on conditions’.