Cairn India, India’s biggest private oil producer, has sought government permission for increasing its capacity from 160,000 barrels to 350,000 barrels. The London-controlled firm, which approached the environment ministry for the nod, has been told to come back with the comments of the Directorate General of Hydrocarbons, under the ministry of petroleum and natural gas. […]
HCL Technologies, India’s fifth largest IT services provider, posted a moderate increase in revenues of 33.5% year on year and 5.8% quarter on quarter to $ 915 mn. Revenue growth has decelerated on a quarter on quarter basis, compared to the 9% jump exhibited in the September quarter. However, due to the same reasons of […]
The Indian economy is shifting into high gear, going by the four-fold increase in acquisitions and mergers reported by FT-owned Merger Markets. Value of mergers and acquisitions were up 271% in the three months ended March this year, hitting $18.3 billion. The value is second highest quarterly M&A size in Indian history, and second only […]
Mirroring the recovery in the enterprise software market, HCL was able to get a higher share of its income from ‘custom application services’ — creating software tailored to individual companies — compared to before. Against 29.9% contributed by this segment a year ago, it accounted for 32% during the March quarter. Custom application development is […]
Amidst allegations and counter-allegations, the Orissa government has accused anti-POSCO activists of forging documents to claim rights over the disputed land. In a report forwarded by the Orissa government to the environment minister Jairam Ramesh, Narayana Jena, collector of Jagatsinghpur district, question the integrity and character of the leaders of the protestors. “The Palli Sabha […]
Attrition at HCL Technologies jumped during March quarter, hitting nearly 8.8% during the quarter, or 35% on an annualized basis, raising concerns. The attrition levels have been around 25% (on an annualized basis) for most IT majors over the last several quarters. The company hired 7,534 employees during the quarter, but 6,381 employees left the […]
After coming under fire from transparency activists, including Anna Hazare, the Election Commission of India seems to have given in to the demand for paper-backed election instead of purely electronic recording of votes. The Election Commission had come under fire after Hari Prasad, an activist was arrested for securing an EVM from Mumbai in his […]
After two successive failures of the GSLV mission last year India’s Polar Satellite Launch Vehicle (PSLV_C16) has placed successfully a remote sensing satellite,Resourcesat-2 into orbit on Wednesday.The latest satellite will study and help in managing natural resources along with two nano satellites. ISRO’s (Indian Space Research Organization) homegrown workhorse Polar Satellite Launch Vehicle placed in […]
The Centre government owned Pawan Hans Helicopters has abandoned plans for starting a sea-plane service due to “lack of interest” from the Union Territory government. Responding to a query by a Parliamentary Panel on the delays in starting the service, the ministry of Civil Aviation said the firm has put the plans on hold. “Despite […]
The department of telecom, government of India has issued another 7 show-cause notices to telecom operators asking why their licenses should not be canceled. However, unlike the 69 such notices issued four months ago, the new notices have been issued for complete failure to meet the norms requiring operators to start operations in time. The […]
India looked with suspicion at China’s establishment of Naval bases along the African coast in the name of fighting pirates, and felt the US climbdown over the USS ‘Impeccable’ incident of 2008 was unhelpful. The USS Impeccable, an unarmed surveillance ship of the US Navy, was repeatedly harassed by Chinese naval and other ships and […]
Canadian smartphone maker Research in Motion, which makes the blackberry mobile phones, seems to have succeeded in convincing the Indian government that it has been “singled out” in India’s quest for statutory monitoring. Telecom Secretary R Chandrasekhar said the government does not want to “single out” any one company and that he believes the issue […]
Indian Government had lost all hope of ever seeing the Indo-Iranian gas pipeline come into existence, but kept up the pretense of negotiations to keep Muslims and the Left happy, according to a US assessment. According to a cable sent in early 2007, the ministry of petroleum and natural gas headed by Murli Deora (described […]
Five corporate honchos are going to be the new occupants of Delhi’s Tihar Jail. With the Special Court hearing the cases related to the scam in the allotment of the 2G spectrum rejecting the bail pleas of the corporate bigwigs, the five could be spending their time in the capital’s central jail. The corporate executives […]
Sunita Narain, founder of the Centre for Science and Environment, has congratulated Jairam Ramesh for taking Bamboo off the ‘timber list’ and allowing people to cut and transport it more easily. Ramesh has, over the past several days, sent letters to state chief ministers clarifying that bamboo was a grass and not a tree and […]
In an extraordinary move, Sistema Shyam Teleservices, the majority owned Indian subsidiary of Russia’s AFK Sistema and the owner of MTS brand, has said it will reveal its quarterly and full-year financial result on Friday. The company is not listed on any stock exchange and is under no legal obligation to make its financial details […]
Intel led the world semiconductor (or chip) market in 2010, though its share fell from 14.6% to 14% as competition from former cell-phone chip makers intensified. According to Gartner numbers, the chip industry grew by a whopping 30% in 2010 to almost $300 billion — making it not only one of the world’s largest industries, […]
Telenor Group has requested Sanjay Chandra, the MD of the Unitech group, to step down as chairman of its joint venture mobile company, Unitech Wireless, the Norwegian company said in a statement. It had earlier this month sent a letter to Unitech Ltd., requesting Sanjay Chandra to step down as Chairman of the Board of […]
Nearly 10 million (1 crore) cable customers in several cities in India are likely to miss their favorite programs on the Star, NDTV, Fox and MGM channels due to a spat with the Hinduja-owned group. Star DEN, the distribution venture of Star India and DEN Networks, said it is likely to stop services to Incable […]
The Supreme Court decision to quash the order of the Telecom Tribunal which in turn quashed the a pricing order of the TRAI is unlikely to make much difference to the ordinary consumer. In July last year, TRAI, the telecom and broadcast regulator, had stipulated that DTH operators need to pay only 35% of what […]
