Today, all round gains were witnessed in the Mumbai stock exchanges. The Bombay Stock Exchange’s benchmark index, Sensex closed at 14,564.5 up by 516 points. Nifty 50 closed at 4360, up by 146 points. In bullion market, gold is being quoted at Rs.11,886/10gm and silver was quoted at Rs.20,385/kg. Nymex crude is at 117 US dollar a barrel and the US dollar was at Rs.43.88.
India today concluded negotiations on a free trade agreement (FTA) with the Asean bloc, which will ensure lowering of duties and free flow of trade in goods. The agreement will create a market of over 1.5 billion people in the region.
ICICI’s Kalpana Morparia has joined global financial services major JP Morgan as Chief Executive for India operations.
Friday, August 29, 2008
Thursday, August 28, 2008
Mumbai Stock Markets –Selected extracts
Today, it was another day in the red in Mumbai stock exchanges. The Bombay Stock Exchange’s benchmark index, Sensex closed lower at 14,048.3 down by 248.4 points. Nifty 50 closed at 4214, down by 78 points. In bullion market, gold is being quoted at Rs.11,867/10gm and silver was quoted higher at Rs.20,448/kg. Nymex crude is up at 119.4 US dollar a barrel and the US dollar was at Rs.43.7.
Inflation expected to be higher at 12.77%.
Singur (West Bengal) agitation intensifies. The agitation will affect the Tata’s Nano project deadlines.
Inflation expected to be higher at 12.77%.
Singur (West Bengal) agitation intensifies. The agitation will affect the Tata’s Nano project deadlines.
Wednesday, August 27, 2008
Mumbai Stock Markets –Selected extracts
Today, it was another day in the red in Mumbai stock exchanges. The Bombay Stock Exchange’s benchmark index, Sensex closed at 14,296.8, down by 185.4 points. Nifty 50closed at 4292, down by 45.4 points. In bullion market, gold is being quoted at Rs.11,828/10gm and silver was quoted higher at Rs.20,394/kg. Nymex crude is up at 117.6 US dollar a barrel and the US dollar was at Rs.43.6.
Dabur is to expand abroad. The company is planning to open packing facility in Pakistan and product out-lets at UAE.
Dabur is to expand abroad. The company is planning to open packing facility in Pakistan and product out-lets at UAE.
Tuesday, August 26, 2008
Mumbai Stock Markets – Selected extracts
Today, there was smart recovery in selected scripts in Mumbai stock exchanges. The Bombay Stock Exchange’s benchmark index, Sensex closed at 14,482.2, up by 32 points. Nifty 50 closed at 4337.5, up by 2.1 points. In bullion market, gold is being quoted at Rs.11,632/10gm and silver at Rs.19,932/kg. Nymex crude is quoted at around 113 US dollar a barrel and the US dollar was at Rs.44.
Infosys buys the UK-based Consultancy Service provider, Axon Group for US$753 million. It is one of the biggest IT deal, to be completed by November, 2008.
Singur agitation continues. The Chief Minister says that the project is in the interest of the state. The CM is seeking consensus among the political parties so that the plant for the Tata’s Nano remains in West Bengal.
Finance Minister meets industry Heads. The minister is expecting 8-9% growth in industries.
Infosys buys the UK-based Consultancy Service provider, Axon Group for US$753 million. It is one of the biggest IT deal, to be completed by November, 2008.
Singur agitation continues. The Chief Minister says that the project is in the interest of the state. The CM is seeking consensus among the political parties so that the plant for the Tata’s Nano remains in West Bengal.
Finance Minister meets industry Heads. The minister is expecting 8-9% growth in industries.
Monday, August 25, 2008
Mumbai Stock Markets – August 25, 2008
Today, there was selected demand for scripts in Stock exchanges in Mumbai. The Bombay Stock Exchange’s benchmark index, Sensex closed at 14,450.3, up by 48.9 points. Nifty 50 closed at 4335.3, up by 7.9 points. In bullion market, gold is being quoted at Rs.11,725/10gm and silver at Rs.20,173/kg. Nymex crude is quoted at around 114.5 US dollar a barrel, and the US dollar was at Rs.43.78.
Infosys buys the UK-based Consultancy Service provider Axon Group. It is one of the largest acquisitions by the Indian IT giant.
Singur agitation continues. Tata’s Nano car may roll-out from their Uttaranchal facility.
Infosys buys the UK-based Consultancy Service provider Axon Group. It is one of the largest acquisitions by the Indian IT giant.
Singur agitation continues. Tata’s Nano car may roll-out from their Uttaranchal facility.
Friday, August 22, 2008
Mumbai Stock Markets – August 22, 2008
Today, there was selected demand for scripts Mumbai stock exchanges. The Bombay Stock Exchange’s benchmark index, Sensex closed at 14,401.5, up by 157.8 points. Nifty 50 closed at 4327.4, up by 43.6 points.
In bullion market, gold is being quoted at Rs.11,740/10gm and silver at Rs.20,208/kg. Nymex crude is quoted higher, at around 120 US dollar a barrel and the US dollar was at Rs.43.4.
In bullion market, gold is being quoted at Rs.11,740/10gm and silver at Rs.20,208/kg. Nymex crude is quoted higher, at around 120 US dollar a barrel and the US dollar was at Rs.43.4.
Thursday, August 21, 2008
Mumbai Stock Markets – August 21, 2008
Today, the scripts have gone through a bear run at Mumbai stock exchanges. The Bombay Stock Exchange’s benchmark index, Sensex closed at 14,243.7, down by 434.5 points. Nifty 50 closed at 4284, down by 132 points. In bullion market, gold is being quoted higher at Rs.11,772/10gm and silver at Rs.20,262/kg. Nymex crude is quoted higher, at around 119 US dollar a barrel and the US dollar was at Rs.43.5.
Wednesday, August 20, 2008
Mumbai Stock Markets – August 20, 2008
Today, the scripts recovered after the bear run for a few days at the Mumbai stock exchanges. The Bombay Stock Exchange’s benchmark index, Sensex closed at 14,678, up by 134.5 points. Nifty 50 closed at 4415.7, up by 47.5 points. In bullion market, gold is being quoted at Rs.11,537/10gm and silver at Rs.19,690/kg. Nymex crude is quoted at just over 115 US dollar a barrel and the US dollar was at Rs.43.7.
Tuesday, August 19, 2008
Mumbai Stock Markets – August 19, 2008
Today, it was again a bear market, with all round losses at the Mumbai stock exchanges. The Bombay Stock Exchange’s benchmark index, Sensex closed at 14,543.7, down by 102 points. Nifty 50 closed at 4368, down by 24.8 points. In bullion market, gold is being quoted at Rs.11,409/10gm and silver at Rs.19,739/kg. Nymex crude is quoted lower at 112 US dollar a barrel and the US dollar was at Rs.43.55.
Monday, August 18, 2008
Mumbai Stock Markets – August 18, 2008
Today, it was again a bear market at the Mumbai stock exchanges. All round losses were noticed. The Bombay Stock Exchange’s benchmark index, Sensex closed at 14,645.7, down by 78.5 points. Nifty 50 closed at 4393, down by 37.6 points. In bullion market, gold is being quoted lower at Rs.11,369/10gm and silver at Rs.19,610/kg. Nymex crude is quoted lower at 114.29 US dollar a barrel and the US dollar was at Rs.43.27.
Thursday, August 14, 2008
Mumbai stock markets – Extracts
Today it was totally a bear market at the Mumbai stock exchanges. All round losses were noticed. The BSE’s benchmark index, sensex closed at 14,724, down by 369 points. Nifty 50 closed at 4430.7, down by 98 points. In bullion market, gold is being quoted higher at Rs.11,708/10gm and silver at Rs.21,560/kg. Nymex crude is quoted lower at 116.5 US dollar a barrel and the US dollar was at Rs.42.99.
Mall culture picking up
Mukesh Ambani’s Reliance Industries Limited (RIL) has announced joint venture with US-based real estate investment trust Vornado to collectively invest US$500 million in a shopping mall joint venture. The plan seems to acquire, develop and operate retail shopping centers across key cities in India. Already, RIL is operating Reliance Fresh retail shops.
However, the work culture in some of the retail shops is far from satisfactory from the point of view of consumer. The local management is poor. Staff seems to be not keen in doing their work. In some shops, stocks are very old. Vegetable counters, except leafy vegetables, need better planning. Fruits of a given quality are more expensive than other local shops. Often, consumers do not go to the shops because they are not sure that all the daily/weekly vegetables requirements will be met under one roof. Who wants to go from shop to shop? I do not want to go.
However, the work culture in some of the retail shops is far from satisfactory from the point of view of consumer. The local management is poor. Staff seems to be not keen in doing their work. In some shops, stocks are very old. Vegetable counters, except leafy vegetables, need better planning. Fruits of a given quality are more expensive than other local shops. Often, consumers do not go to the shops because they are not sure that all the daily/weekly vegetables requirements will be met under one roof. Who wants to go from shop to shop? I do not want to go.
Tuesday, August 12, 2008
Business news extracts –India (August 12, 2008)
1.The stock markets today: Today it was bear market at the Mumbai stock exchanges. The BSE’s benchmark index, sensex closed lower at 15,212, down by 292 points. Nifty 50 closed at 4552, down by 68 points. In bullion market, gold is being quoted at Rs.11,367/10gm and silver at Rs.20,698/kg. Nymex crude is quoted lower at 113.6 US dollar a barrel and the US dollar was at Rs.42.43.
2.State Bank of India brought some cheers for depositors and small home loan borrowers. The bank increased the interest rate on FDs between one year and three years to 10%.
3.Global telecom operators and new entrants are likely to stay away from the 3G auction owing to some “discriminatory” guidelines announced by the government for the bidding.
4.Realty investment is subdued in Q2. Investors seem to be cautious over the effects of global credit crunch, says global real estate consultant CB. Richard Ellis.
2.State Bank of India brought some cheers for depositors and small home loan borrowers. The bank increased the interest rate on FDs between one year and three years to 10%.
3.Global telecom operators and new entrants are likely to stay away from the 3G auction owing to some “discriminatory” guidelines announced by the government for the bidding.
4.Realty investment is subdued in Q2. Investors seem to be cautious over the effects of global credit crunch, says global real estate consultant CB. Richard Ellis.
Monday, August 11, 2008
Business news extracts –India (August 11, 2008)
1.The stock markets today: Today it was bull market at the Mumbai stock exchanges. The BSE’s benchmark index, sensex closed higher at 15,504, up by 336 points. Nifty 50 closed at 4620, up by 91 points. In bullion market, gold is being quoted at Rs.11,905/10gm and silver at Rs.21,753/kg. Nymex crude is quoted lower at 115.9 US dollar a barrel and the US dollar was at Rs.42.05.
2.Durables, FMCG companies to raise prices: FMCG majors Dabur and Goderej Consumer products and LG are planning to raise their product prices as in-put cost pressure mounts.
3.Global crude prices on downward spiral: Global crude oil prices are expected to slip below US$100 per barrel mark by next month with signs of slowdown engulfing most of the economies across the world.
4.Tata teleservices: Tata Teleservices has unveiled plans to invest US$2 billion to expand telecom business, including GSM mobile services over the next couple of years.
2.Durables, FMCG companies to raise prices: FMCG majors Dabur and Goderej Consumer products and LG are planning to raise their product prices as in-put cost pressure mounts.
3.Global crude prices on downward spiral: Global crude oil prices are expected to slip below US$100 per barrel mark by next month with signs of slowdown engulfing most of the economies across the world.
4.Tata teleservices: Tata Teleservices has unveiled plans to invest US$2 billion to expand telecom business, including GSM mobile services over the next couple of years.
Friday, August 8, 2008
Business news extracts –India (August 8, 2008)
1.The stock markets today: The BSE’s benchmark index, sensex closed higher at 15,167.8, up by 50.5 points. Nifty 50 closed at 4529, up by 5 points. In bullion market, gold is being quoted lower at Rs.11,919/10gm and silver at Rs.22,414/kg. Nymex crude is quoted at 117.5 US dollar a barrel and the US dollar at Rs.42.10.
2.India hopes to test the first developmental flight of the stealth 5th generation fighter by 2015 says the IAF chief. The fighter aircrafts are co-developed with Russia to fulfill futuristic requirements. The project is expected to cost US$8-10 billion.
3.A 1000 c.c. car to be produced in India by Suzuki for global markets. The car is reported to be unveiled at the Paris Motor Car show in October. The car is expected to replace “Alto” in India in the long run. Maruti will sell the new model. The car promises CO2 emission levels below 109 gm/km.
4.The Coca-cola secret formula is becoming a less secret. The 122 years old recipe shows no added preservatives or artificial flavours. It is reported that a 250 ml (about 85 ounces) has 105 calories or 5% of the recommended daily intake for adults.
5.The Government allots one block of spectrum each to state-run BSNL and MTNL to enable them to roll out their 3G services, ahead of private players.
6.Due to the near-normal rains, demand for power has dropped in industrial areas of Maharashtra, paving way for load-shedding to 24-hour rather than the 40 hours a week.
2.India hopes to test the first developmental flight of the stealth 5th generation fighter by 2015 says the IAF chief. The fighter aircrafts are co-developed with Russia to fulfill futuristic requirements. The project is expected to cost US$8-10 billion.
3.A 1000 c.c. car to be produced in India by Suzuki for global markets. The car is reported to be unveiled at the Paris Motor Car show in October. The car is expected to replace “Alto” in India in the long run. Maruti will sell the new model. The car promises CO2 emission levels below 109 gm/km.
4.The Coca-cola secret formula is becoming a less secret. The 122 years old recipe shows no added preservatives or artificial flavours. It is reported that a 250 ml (about 85 ounces) has 105 calories or 5% of the recommended daily intake for adults.
5.The Government allots one block of spectrum each to state-run BSNL and MTNL to enable them to roll out their 3G services, ahead of private players.
6.Due to the near-normal rains, demand for power has dropped in industrial areas of Maharashtra, paving way for load-shedding to 24-hour rather than the 40 hours a week.
Thursday, August 7, 2008
Business news extracts –India (August 7, 2008)
1.The stock markets today: The BSE’s benchmark index, sensex closed higher at 15,117, up by 44 points. Nifty 50 closed at 4524, up by 6 points. In bullion market, gold is being quoted lower at Rs.12,166/10gm and silver at Rs.23,367/kg.
2.Fuel crisis at Dabhol Power Plant: The plant which is supposed to generate 2150 MW will now mange only 300 MW after its gas supply is curtailed. The power plant is owned by Ratnagiri Gas and Power private Limited needs 5.40 million standard cubic meters of gas per day to run two of its operational plants. Why not the Power Ministry ensure that the gas supplying agency, Petronet LNG Limited supply the required amount of gas so as to augment the existing pathetic electricity supply situation in Maharashtra, particularly Navi Mumbai?
3.Diesel “rationing” across the country has started affecting business, particularly transport business in a big way. The scarcity and delay in transportation of goods will further rise in the cost of commodities, and ultimately, the harassed consumer has to bear the higher costs.
4.Public sector oil marketing company, BPCL is to set up first solar photovoltaic power project of 1MW capacity in Punjab. Better late than never.
5.Bharat Forge has emerged as the world’s largest forging company with a forging capacity of 700,000 tonnes per year. The company seems to be looking at the forgings requirements of the power industry, particularly nuclear power sector, post Indo-US nuclear deal.
6.Drug price regulator, National Pharmaceutical Pricing Authority (NPPA) revised prices higher to the tune of 3-12%, of six bulk drugs used in manufacturing of popular medicines. The bulk drugs include Vitamin E Acetate, Ranitidine HCl, Parachlorometaxylenol, Mettronidazole and Cefotaxime Sodium.
2.Fuel crisis at Dabhol Power Plant: The plant which is supposed to generate 2150 MW will now mange only 300 MW after its gas supply is curtailed. The power plant is owned by Ratnagiri Gas and Power private Limited needs 5.40 million standard cubic meters of gas per day to run two of its operational plants. Why not the Power Ministry ensure that the gas supplying agency, Petronet LNG Limited supply the required amount of gas so as to augment the existing pathetic electricity supply situation in Maharashtra, particularly Navi Mumbai?
3.Diesel “rationing” across the country has started affecting business, particularly transport business in a big way. The scarcity and delay in transportation of goods will further rise in the cost of commodities, and ultimately, the harassed consumer has to bear the higher costs.
4.Public sector oil marketing company, BPCL is to set up first solar photovoltaic power project of 1MW capacity in Punjab. Better late than never.
5.Bharat Forge has emerged as the world’s largest forging company with a forging capacity of 700,000 tonnes per year. The company seems to be looking at the forgings requirements of the power industry, particularly nuclear power sector, post Indo-US nuclear deal.
6.Drug price regulator, National Pharmaceutical Pricing Authority (NPPA) revised prices higher to the tune of 3-12%, of six bulk drugs used in manufacturing of popular medicines. The bulk drugs include Vitamin E Acetate, Ranitidine HCl, Parachlorometaxylenol, Mettronidazole and Cefotaxime Sodium.
Wednesday, August 6, 2008
Business news extracts –India (August 6, 2008)
1. The stock markets today: The BSE’s benchmark index, sensex closed higher at 15,073, up by 112 points. Nifty 50 closed at 4517, up by 15 points. In bullion market, gold is being quoted lower at Rs.12,172/10gm and silver at Rs.23,385/kg. Nymex crude oil was trading at just over US$120 a barrel. Rupee was at Rs.42.08 a dollar.
2. The memorandum of understanding (MoU) among Ambani family matriarch Kokilaben, her sons Mukesh and Anil Ambani prior to the split in the Reliance Group is not binding on RIL, says its counsel in Bombay High Court. This legal battle is affecting the sentiments of millions of Reliance shareholders.
3. The impact of the Reserve Bank’s monetary tightening is beginning to show up in home loan rates. The rising home loan rates are hurting customers.
4. Three companies to make AIDS drugs affordable. Cipla has played a lead role in setting the global benchmark for cheaper AID drugs.
2. The memorandum of understanding (MoU) among Ambani family matriarch Kokilaben, her sons Mukesh and Anil Ambani prior to the split in the Reliance Group is not binding on RIL, says its counsel in Bombay High Court. This legal battle is affecting the sentiments of millions of Reliance shareholders.
3. The impact of the Reserve Bank’s monetary tightening is beginning to show up in home loan rates. The rising home loan rates are hurting customers.
4. Three companies to make AIDS drugs affordable. Cipla has played a lead role in setting the global benchmark for cheaper AID drugs.
Tuesday, August 5, 2008
Business news extracts –India (August 5, 2008)
1. The stock markets today: The BSE’s benchmark index, sensex closed higher at 14,961, up by 383 points. Nifty 50 closed at 4502, up by 107 points. In bullion market, gold is being quoted lower at Rs.12,150/10gm and silver at Rs.23,625/kg. Nymex crude oil was trading at just over US$120 a barrel. Rupee was at Rs.42.24 a dollar.
2. The diesel pumps in Maharashtra state are running dry due to the unprecedented power crisis in the state and the demand for diesel to run generators is increasing.
3. Reliance Capital, controlled by Indian billionaire Anil Ambani plans to raise US$1billion overseas for a private equity fund in India. The stock markets are down and it is time to buy.
4. India storms into global automaker big league. It ranks 12th among all the countries and 4th among the developing countries.
5. Luxury hotel rates continue to go down in Bangalore. Industry estimates that the foreign travel market has dipped by almost 20%. Hotels across Bangalore average room occupancy of international guests anywhere between 75% and 80%.
2. The diesel pumps in Maharashtra state are running dry due to the unprecedented power crisis in the state and the demand for diesel to run generators is increasing.
3. Reliance Capital, controlled by Indian billionaire Anil Ambani plans to raise US$1billion overseas for a private equity fund in India. The stock markets are down and it is time to buy.
4. India storms into global automaker big league. It ranks 12th among all the countries and 4th among the developing countries.
5. Luxury hotel rates continue to go down in Bangalore. Industry estimates that the foreign travel market has dipped by almost 20%. Hotels across Bangalore average room occupancy of international guests anywhere between 75% and 80%.
Reliance Communications start GSM services
In addition to CDMA services, Indian telecom giant Reliance Communications may soon launch GSM services to its consumers with dual technology license from the government of India. Subscriber addition is expected to grow at the rate of 7 million a month. The company has targeted to cover 23,000 towns and 6 lakh villages under the GSM scheme by the end of this year. There will be thousands of additional towers to cover this fast-expanding subscriber base.
In spite of repeated news appearing in the news media, little attention is paid to the harmful effects of the radiation emitted by the mobile phones and the cell towers. Towers are erected on the buildings, near schools, and in fact they can be seen everywhere. The measured radiation levels in Mumbai city due to the towers is reported (in Mumbai Mirror) to be very much higher than the internationally stipulated limits.
There is a need for strict regulation to ensure that the manufacturers of the mobile phones and the service providers maintain the radiation emission levels much lower than the stipulated standards. Base stations near schools and crowded areas should be avoided. The regulators should also look into the safety of erecting antenna on the residential building tops and near schools.
There should be a dedicated regulatory body to issue guidelines, such as type-approval for mobile phones and daily time limit for mobile usage by the people. The RF radiation levels should periodically monitored in city areas and around schools. The readings should be displayed for public knowledge and for checking compliance with the set limits by regulators.
The government of India should wake up to this reality of more and more mobile phone usage, and ensure radiation protection of the population.
In spite of repeated news appearing in the news media, little attention is paid to the harmful effects of the radiation emitted by the mobile phones and the cell towers. Towers are erected on the buildings, near schools, and in fact they can be seen everywhere. The measured radiation levels in Mumbai city due to the towers is reported (in Mumbai Mirror) to be very much higher than the internationally stipulated limits.
There is a need for strict regulation to ensure that the manufacturers of the mobile phones and the service providers maintain the radiation emission levels much lower than the stipulated standards. Base stations near schools and crowded areas should be avoided. The regulators should also look into the safety of erecting antenna on the residential building tops and near schools.
There should be a dedicated regulatory body to issue guidelines, such as type-approval for mobile phones and daily time limit for mobile usage by the people. The RF radiation levels should periodically monitored in city areas and around schools. The readings should be displayed for public knowledge and for checking compliance with the set limits by regulators.
The government of India should wake up to this reality of more and more mobile phone usage, and ensure radiation protection of the population.
Monday, August 4, 2008
Business news extracts –India (August 4, 2008)
1. The stock markets today: The BSE’s benchmark index, sensex closed at 14,578, down 79 points. Nifty 50 closed at 4395, down by 18 points. In bullion market, gold is being quoted lower at Rs.12,438/10gm and silver at Rs.24,270/kg. Nymex crude oil was trading at just over US$123 a barrel. Rupee was at Rs.42.48 a dollar.
2. British Airways tries again to seal an alliance with its US partner American Airlines within weeks.
3. The state-run MTNL is all ready to rollout its 3G network within three months once the Public Sector Unit gets spectrum from the government, says company CMD. Government sources say only two private players would get the licenses for the 3G network service.
4. In-spite of strong opposition from the Bloc-controlled State Agriculture Marketing Board, Kolkata, Reliance Fresh opens retail mart. However, the outlet will sell only food products and not fruits and vegetables.
5. Reliance Communications starts GSM service in Delhi. It will be the first company in India to offer both CDMA and GSM services.
6. Tata Capital is gearing up to enter the highly competitive but lucrative housing loan business by March 2009.
7. Reliance Infratel is likely to differ it’s IPO plans, reportedly due to volatility in global and Indian capital markets.
2. British Airways tries again to seal an alliance with its US partner American Airlines within weeks.
3. The state-run MTNL is all ready to rollout its 3G network within three months once the Public Sector Unit gets spectrum from the government, says company CMD. Government sources say only two private players would get the licenses for the 3G network service.
4. In-spite of strong opposition from the Bloc-controlled State Agriculture Marketing Board, Kolkata, Reliance Fresh opens retail mart. However, the outlet will sell only food products and not fruits and vegetables.
5. Reliance Communications starts GSM service in Delhi. It will be the first company in India to offer both CDMA and GSM services.
6. Tata Capital is gearing up to enter the highly competitive but lucrative housing loan business by March 2009.
7. Reliance Infratel is likely to differ it’s IPO plans, reportedly due to volatility in global and Indian capital markets.
Friday, August 1, 2008
Business news extracts –India (August 1, 2008)
1. The stock markets today: The BSE’s benchmark index, sensex closed at 14,656, higher by 301 points. There were demands for IT, banks, telecom and steel stocks. Nifty 50 closed at 4413, up by 80 points. In bullion market, gold is being quoted at Rs.12,511/10gm and silver at Rs.24,500/kg. Nymex crude oil was trading at just over US$122 a barrel. Rupee was at Rs.42.37 a dollar.
2. HDFC, ICICI banks hike interest rates: Home owners who ha bought dream houses with loans from banks or financial institutions will be paying higher EMIs. The loan rates have been on an upward swing for almost 5 years now, from about 7.5% in October, 2003 to 11.75% per year (floating) now.
3. Japan’s Takeda eyes Torrent: Japan’s largest and oldest pharma giant Takeda Pharmaceutical Company is planning to acquire Mumbai-based Torrent Pharmaceuticals for an undisclosed amount.
4. Inflation rate rises: The price rise index- the inflation rate rose to 11.98% for the week ended July 19, 2008.
2. HDFC, ICICI banks hike interest rates: Home owners who ha bought dream houses with loans from banks or financial institutions will be paying higher EMIs. The loan rates have been on an upward swing for almost 5 years now, from about 7.5% in October, 2003 to 11.75% per year (floating) now.
3. Japan’s Takeda eyes Torrent: Japan’s largest and oldest pharma giant Takeda Pharmaceutical Company is planning to acquire Mumbai-based Torrent Pharmaceuticals for an undisclosed amount.
4. Inflation rate rises: The price rise index- the inflation rate rose to 11.98% for the week ended July 19, 2008.
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