In a major setback to Mahindra Satyam, the Andhra Pradesh High Court asked the company to issue bankers' cheques worth Rs 350 crore to the Central Board of Direct Taxes (CBDT). The company was also asked to provide an unconditional bank guarantee worth Rs 267 crore to the tax authorities.
In a blow to Cairn Energy, the government's law officers have held that Edinburgh-based firm needs state-owned ONGC's consent to sell its majority stake in Cairn India to Vedanta Resources.
AV Birla Group's flagship company Hindalco is planning to raise Rs 8000 crores for Aditya Aluminium project. The fund raising is expected to close in Q1FY12. This comes soon after the financial closure of the Mahan project. Hindalco is on a fund raising spree to put all their domestic projects on a fast track.
Indian Oil Corp (IOC) plans to shut a kerosene unit at its Haldia refinery for maintenance from mid-April, prompting the firm to float a rare jet fuel tender.
Tanishq, the jewellery retail chain arm of Titan Industries, under Tata Group, is planning to invest around Rs 150-200 crore for setting up around 15 showrooms in various parts of the country in next fiscal year.
National Aluminium Company (Nalco) is likely to increase the price of the metal by Rs 2,000-3,000 a tonne with effect from April, in sync with firming global prices.
In a bid to increase its footprint, the country's second largest lender HDFC Bank opened 275 branches in the current fiscal taking its total network to 2,000.
Pune-based chemicals maker Deepak Fertilisers and Petrochemicals Corp said on Wednesday it would invest about $350 million to set up a technical ammonium nitrate (TAN) manufacturing unit in Australia, pushing its shares up more than 4%.
Indian Oil Corporation and Engineers India have placed order with Fernas Construction India worth Rs 300 crore for laying of pipelines and composite works for south jetty pipeline project.
Religare Commodities (RCL), a wholly-owned subsidiary of Religare Securities ( RSL ), was awarded the prestigious award for the 'Best Commodity Broker of the Year' at the recently-concluded Bloomberg UTV's Financial Leadership Awards 2011 - The Final Word in Money.
Cognizant, which counts Walmart among its top retail customers, has doubled its revenues from the segment in the last two years, and is set to challenge rivals like TCS, Infosys in increasing business from top retailers in the world.
US listed software firm iGate's open offer for 20.6 per cent in India's Patni Computer Systems will open on April 8 and close on April 27.
Bharti Airtel, Vodafone Essar and Idea Cellular are close to signing an agreement to share their third-generation radio bandwidth.
Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Galantamine Tablets USP 4mg, 8mg and 12mg.
Nexxoft Infotel has decided to sell 30% of its stake in Elsoft Technologies at a cost of Rs 20 per share. The company holds a total of 75% stake held in Elsoft Technologies out of which it has decided to sell 30% of its stake.
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