The Hindu Business Line : Wednesday, July 08, 2009

Budget decision could drill hole in oil co finances
Definition of ‘undertaking’ with retrospective effect queers pitch. Kolkata, July 7 The Budget decision to retrospectively treat all blocks licensed under a single contract as one undertaking may dog the Indian oil and gas industry ...

‘Natural gas’ tax holiday only for NELP-VIII blocks
New Delhi, July 7 The Budget 2009-10 move to extend tax holiday for profits arising from commercial production of natural gas will be applicable only in respect of hydrocarbon exploration blocks awarded under the New Exploration Licensing ...

All ears: The Union Finan... TODAY'S PICK (Latest Audio: English/Tamil)
Gujarat State Petronet (Rs 54.2): Buy
We recommend a buy in Gujarat State Petronet from a short-term perspective. It is evident from the charts that the stock has been forming higher peaks and higher troughs since January low of Rs 26. However, after recording the peak of Rs 65 ...

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Govt will not crowd out corporate borrowing
Divestment roadmap will have stakeholders’ input: Pranab. New Delhi, July 7 The Finance Minister, Mr Pranab Mukherjee, has assured the private sector that the proposed higher Government borrowing for 2009-10 would be planned in such a ...

Maytas-led consortium loses Hyderabad metro deal
AP says co failed to meet contractual obligations in time. Hyderabad, July 7 The Andhra Pradesh Government today cancelled the Rs 12,132-crore Hyderabad metro rail project contract awarded to the Maytas Infra-led consortium for failing to meet ...

Air India plans to search globally for a COO
Looks to induct persons of international repute on its board. New Delhi, July 7 Air India is to not only look globally for a Chief Operating Officer but is also keen to have persons of international repute and calibre such as telecom technocrat ...

Oil majors stumped by excise duty hike on branded fuels
Cos fear that their share will fall to 15% of total sales. New Delhi/Mumbai, July 7 Oil marketing companies (OMCs) that got little by way of pricing policy announcements from Mr Pranab Mukherjee in the Budget are now flummoxed by the move to ...

Oil on the block
Does ‘mineral oil’ also mean natural gas? Yes and no. Beats logic? Not if you are a mandarin.For a company that bags a contract under the New Exploration Licensing Policy (NELP) Round VIII which is now open, ...

Bankers caution realtors against raising property prices
New Delhi, July 7 Leading bankers on Tuesday cautioned real estate developers against raising residential prices, saying that any such move at this juncture would stall recovery in ...

IT industry sees valid case for tax holidays
High employee base contributes to Govt kitty via individual taxes. Chennai, July 7 The argument that the software industry should lose its pampered status is getting louder, even as voices from within the industry say that smaller companies, and ...

Corporate taxes: Who paid the most and the least
Software service enjoys lowest incidence; engg, banking among highest. Chennai, July 7 Software, power, pharmaceuticals and property developers. Companies in these sectors may have the most to fear from any concerted attempt by the Government to ...

Borrowing costs for States to shoot up
Centre’s borrowing plan likely to push interest rates higher. Bangalore, July 7 Borrowing costs for States are expected to escalate sharply as competition from the Centre’s borrowing programme for the current ...

‘Market had built too much of expectations’
Biggest plus is there is no change in capital gains tax. Mumbai, July 7 The huge fall in the stock market was a spontaneous reaction to the Budget proposals, which has something for everyone, said ...

Domestic institutions, retail traders capitalised on big fall
FIIs pulled the markets down: Analysts. Mumbai, July 7 Retail and domestic institutional investors took some advantage of the six per cent dip in the benchmark indices on Monday, the day of the ...

Banks seek six more months for NPA recast
RBI urged to re-look at some provisioning norms. Mumbai, July 7 Banks have sought more time to complete the process of restructuring bad ...

‘Low’ stuck over Jharkhand, pours it down over east
Thiruvananthapuram, July 7 The land-based ‘low’ over Jharkhand hardly moved from Monday’s bearing but that did not prevent it from unleashing widespread rains over east and east-central India during the 24 hours ending ...