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Category: Business

Four companies including Micromax skips IPO plans

Jan. 30 Business Comments Off

As per the news, in spite of huge stock market in this year, four major firms have refrained from coming out with IPOs worth Rs 700 crore, leasing their regulatory sanctions drops.

In the meantime, the four firms which have let their sanctions drop include Micromax Mobiles, Pride Hotels, Betul Oil and Tara Jewels.

Captivatingly, there are more than 10 other firms who have suitable approval in hand and are left with just two months in their validity period of one year from the date of approval. Read more

3 Metro stations to be closed for a few hours today

Jan. 29 Business Comments Off

As per the latest news from the national capital, New Delhi, the three Metro stations near Rajpath will be closed for a few hours and services to some extent shortened on two lines on the occasion of Beating Retreat today.

It is reported to media that on Line 2 (Jahangirpuri-Gurgaon), the Central Secretariat and Udyog Bhawan stations will remain closed from 03.00 PM to 06.30 PM on Sunday.

Nevertheless, interchange of passengers from Line 2 to Line 6 and vice versa will not be affected and it will go on.

The statement was released to media by an official from the Metro officials. Read more

India-Pakistan decides regular TAPI transit fee

Jan. 26 Business Comments Off

As like oil pipeline agreement with Iran, now oil Minister of India and Pakistan agree on the same deal to make transit of gas at a uniform transit fee for it from Turkmenistan.

However both are agreed on the proposal of $7.6-billion Turkmenistan pipeline that decision taken after hold a meeting between S Jaipal Reddy and Pakistani minister Asim Hussain yesterday.

After this deal processing India should be able to export petrol, Diesel and other petroleum products to Pakistan that should ensure help in the economic growth of country on both sides. Read more

Citigorup, HSBC, Bank of America Merrill Lynch and Barclays will cut jobs in India

Jan. 26 Business Comments Off

The impact of global crisis is putting on the performance of banks that decides to cut of many jobs as a result of financial imbalance.

As per source report Citigroup in India will struck out about 4,500 jobs globally and 100 in its local business in India, beside it other HSBC, Bank of America Merrill Lynch and Barclays are deciding to cut off jobs in their Indian operations.

As per records, HSBC will show door to its employers in Indian operation units as it made 30,000 reductions internationally. Royal Bank of Scotland also decides to merge with others company that lead to more than a dozen reductions.

The decision is taken after analyzing global strategy that require for parent companies’ shrinking balance sheets to boost capital. Read more