The Hindu Business Line : Monday, January 19, 2009

Ramalinga Raju sold 4.4 crore shares in 2001-08 period
Raju’s stake fell from 22.78% to 8.63% over seven years. Chennai, Jan.18 Satyam Computer Services’ ex-Chairman, Mr Ramalinga Raju, sold a little under four-and- a-half crore shares in the company over a seven-year period since ...

Satyam accounts: Clear picture only after final probe report, says Gupta
New Delhi, Jan. 18 The Corporate Affairs Minister, Mr P.C. Gupta, on Sunday said that it was too early to come to the conclusion that there had been a diversion of funds from ...

Further questioning: The ... TODAY'S PICK (Latest Audio: English/Tamil)
Ashok Leyland (Rs 15): Buy
We recommend a buy in Ashok Leyland from a short term perspective. The stock has been in a short term correction since the January 6 peak at Rs 16.9. This decline halted at Rs 14 last Thursday after retracing 61.8 per cent of its prior ...

Rajus, Vadlamani in police custody
The Crime Investigation Department (CID) sleuths have taken Mr B. Ramalinga Raju (former Chairman of Satyam Computer Services), Mr Rama Raju (former Managing Director), and Mr Vadlamani (former Chief Financial Officer) into custody ...

GAIL to buy gas from ONGC Mumbai offshore at market price
Commercial pact likely to be signed soon. New Delhi, Jan. 18 GAIL (India) Ltd is all set to source 3.2 million standard cubic metres a day of gas from ONGC’s marginal fields in Mumbai offshore at a market related price. Sources told ...

Public sector companies losing first mover advantage in nuclear power
Private players seize opportunities; push ahead with uranium asset buys. New Delhi, Jan. 18 Amid growing opportunities in the newly-opened nuclear power sector, State-owned Indian firms are losing the initiative to their private sector ...

Retail investors hike stake in BSE-500 cos, even as FIIs exit
Overseas investors reduce stake in 60% of companies. BL Research Bureau It is retail investors who have lapped up the bulk of the shares relinquished by FIIs during their selling spree in 2008. And they are no longer mimicking FIIs in their ...

Drug cos concerned over definition of counterfeits
Mumbai, Jan. 18 The seizure of a transiting export consignment belonging to Dr Reddy’s Laboratories by customs authorities in Netherlands, barely two months after another local drug-maker Ind-Swift faced a similar situation, has ...

Trading may begin on optimistic note
Some investors seem to be showing interest at current levels. This week market may open on a positive note on sentimental grounds, and is likely to follow a relatively steady course. After Satyam and Nortel negatives were factored in to a large ...

Who audits the auditors?
The Satyam fraud and various actions taken by the Government to salvage the situation have captured media attention both in India and abroad. The fall of Satyam from grace has come at a time when policy-makers in India were telling the world in ...

Outlook bright for gold in long term
Low physical demand, less money with investors keep yellow metal under leash. Gold, after being in the grip of bears for the most part of the week, recovered during the weekend. On Friday, it gained three per cent to close at $847.2 an ounce but ...

Gold may see bullish reversal
Gold futures, ended higher on Friday as the dollar slid on lingering economic worries and signs of strengthening in investment demand as the recession deepens, boosting the appeal of the precious metal as an alternative investment. Investment ...

Leelaventure sees hard times persisting till Oct
Plans for new hotels put on hold. Hotel Leelaventure expects hard times ahead in the hospitality industry. According to a top official, the drop in revenue for an available room will be sharper in Mumbai and Bangalore. It could be as steep as 20 ...

Govt plans to check sugar exports via advance licence
Millers may soon need Food Ministry’s approval. New Delhi, Jan. 18 Sugar millers fulfilling export obligations under the advance licence (AL) scheme may soon have to obtain the Food Ministry’s ‘release orders’ (RO) for ...

Paramount Airways’ promoters keen to hike stake to 100%
New Delhi, Jan. 18 The promoters of the Coimbatore-based, Paramount Airways, are keen to increase their stake in the airline to 100 per cent by buying back the about 5 per cent stake held by others. The promoters hold currently 95 per ...

Ports fall short of target
Figures released recently by the Indian Ports Association show that in the first nine months of the current fiscal, traffic growth in the country’s major ports was 3.43 per cent, at 391.8 million tonnes (mt), compared to 378.8 mt in ...

Cold snap likely as westerly seeks to exit N-W
Thiruvananthapuram, Jan. 18 The prevailing western disturbance over Jammu and Kashmir will continue to influence regional weather over the hills and plains of northwest India for another day before spending itself ...