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The latest news from India's most respected business daily.



NMDC issue gets over pricing blues (Mar 11)
After a sedate start yesterday, the follow-on public offer of NMDC saw interest reviving on the second day of book building, with bids for 79 per cent of the shares on offer.


Govt rejects relaxing foreign donation rules (Mar 11)
Contributions by Indian firms with over 50% foreign holding to be treated as foreign sources.


Bonus season over, job churn begins at i-banks (Mar 11)
Stuart Gulliver, head of HSBCs global investment banking business, is planning to give away the 9 million bonus he received this year to charity. Many investment bankers in India, however, are charting moves of a different kind after receiving their bonuses up to 100 per cent in most cases.


Fortis buys 24% in singapore healthcare giant (Mar 11)
Malvinder to be Parkway chairman; acquisition will form Asias largest hospital chain.


NMDC FPO gets poor response on day one (Mar 10)
Like its predecessors REC and NTPC, mining major NMDC, the third government-owned company to hit the markets this year, received tepid response on the first day of follow-on offer (FPO).


More losses for oil companies as price rise option closes (Mar 10)
Even before the start of the new financial year, the spectre of rising losses during 2010-11 has begun to haunt the three state-controlled oil marketing companies that account for over 90 per cent of the countrys retail petroleum products market.


IPL's third innings promises high-scoring revenues (Mar 10)
With just two days to go for the third edition of the Indian Premier League (IPL) Twenty20 tournament to get rolling, ticket sales have been brisk for the inaugural match in the suburbs of Mumbai and franchisees, broadcasters and movie hall-owners are all expecting high-scoring returns.


S 500, Dow now on NSE (Mar 10)
Chicago Mercantile, NSE in tie-up for cross listing arrangement for index futures.


India Inc faces higher gratuity provisioning (Mar 9)
Over 50 per cent of Indian companies will have to make higher provisions in their balance sheets as gratuity expenses. This follows last weeks Union Cabinet decision to raise the tax-free ceiling of gratuity payable to private sector employees from Rs 3.5 lakh to Rs 10 lakh.


RBI to amend rules to control NBFCs turning LLPs (Mar 9)
The Reserve Bank of India (RBI) plans to amend its rules to pre-empt non banking finance companies (NBFCs) from misusing the liberal rules governing limited liability partnership (LLP) firms.