Troubles for Atul Kumar Rai, the chief executive officer and managing director of state-owned financial institution IFCI (Industrial Finance Corporation of India), are showing no signs of ending. Vivek Sinha reports.
Tata Steel on Thursday reported a consolidated loss of Rs 603 crore for the third quarter ended December 31 as against a net profit of Rs 1,003 crore for the corresponding quarter in the previous fiscal on account of increased costs. HT reports.
UK-based travel operator Thomas Cook Group’s (TCG) announcement on Wednesday that it was formalising the stake sale process in its Indian subsidiary, Thomas Cook India (TCIL) saw the Indian arm’s share price rise 14.5% intra-day before closing at Rs 57, up 5.8% on Thursday. HT reports.
Eyeing a turnover of Rs 700 crore in the next five years, NourishCo — a joint venture between Tata Global Beverages and PepsiCo India — on Thursday said it will expand its healthy product portfolio. HT reports.
Eastman Kodak Co, the bankrupt inventor of the hand-held camera, plans to stop making digital cameras, pocket video cameras and digital picture frames in the first half of 2012 in a bid to cut costs.
Global majors such as ABB and Siemens aim to tap India’s renewable energy sector for power equipment and automation business.
Japanese camera maker Canon has planned to provide a major thrust to its India business as it readies itself to further increase its footprint in the country where rising disposable incomes has fuelled demand for quality products. The company expects India to play a larger role in its global scheme of things and in the process contribute more to its revenues.
Food Services company Jubilant FoodWorks Limited (JFL), which operates the Domino’s pizza chain in India, posted a robust 56% year-on-year jump in net profit at R29.5 crore for the October-December period against R19 crore a year ago.
Uninor's revenue rose during the quarter ended December 2011 on an increased subscriber base while the parent company Telenor wrote down its investment of about $724.5 million (4.2 billion Norwegian Kroner) following the Supreme Court order cancelling the service provider's 22 licences.
Anil Ambani-led Reliance Power announced on Tuesday that its R10,000-crore Samalkot project is ready for commissioning. The 2400-MW project is the largest gas-based power plant in Andhra Pradesh.
The Supreme Court on Tuesday asked the court appointed mediator to ascertain the amount Singapore-based SpeakAsia is liable to pay to its investors and other authorities.
Shares of Manappuram Finance tumbled by 20% to their lowest permissible limit for the day today, amid concerns over Reserve Bank of India warning the company against accepting public deposits.
Wal-Mart Stores Inc said today it has named Walmart executive Greg Foran as the president and chief executive of Walmart China, capping a series of leadership changes at the China unit tainted by food scandals.
Integrated pharmaceutical company Jubilant Life Sciences reported a 25% year-on-year jump in net sales at Rs 1,087 crore for the three months ended December 31, 2011.
Consumer goods major Hindustan Unilever Ltd on Monday beat market forecasts with a 18.2% year-on-year rise in net profit at Rs 753.8 crore for the October-December quarter against Rs 637.5 crore a year ago on higher prices as well as sales.