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| Instanex Skindia DR Index rules
steady MUMBAI, Nov 24: The Instanex Skindia DR Index ruled barely steady at 2,307.54 on November 23, while the Dr Index P/E Ratio moved down fractionally to 26.96 from 27.02 previously, Instanex Instanex Capital release said here .........more GAIL to import 5 mn tonnes LNG from Algeria, Nigeria NEW DELHI, Nov 24: GAIL today said the company is in advance talks with Algeria and Nigeria for importing five million tonnes .......more Tea major Assam Company raises Rs 206 cr thru FCCBs MUMBAI, Nov 24: Leading tea producer, Assam Company Limited today said it has raised Rs 206.54 crore (46 million dollar) through Foreign Currency ......more Emco bags Rs 38cr order from PGCIL NEW DELHI, Nov 24: Emco Ltd today said it has received a Rs 38 crore order from Power Grid Corporation of India Ltd (PGCIL) for establishment . ........more |
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Mobile roaming charges set to fall,
TRAI issues consl paper NEW DELHI, Nov 24: In a major relief to the mobile users, TRAI today sought stakeholder's opinion in bringing down the roaming charges by various measures, including fixing a ceiling tariff for .........more Electricity transmission improved BHOPAL, Nov 24: The decision to handover electricity transmission and related activities to the Madhya Pradesh ...........more Largest conferance on FOSS begins BANGALORE, Nov 24: India’s most focused and largest conference on Free Open Source Software (FOSS).In 2006 commenced here today providing open ......more RBI nod for setting up new branches, ATMs MUMBAI, Nov 24: Following market regulator SEBI’s decision to allow the bank to open fresh demat accounts, HDFC bank today said it has also received approval ..........more |
Instanex Skindia DR Index rules steady MUMBAI, Nov 24: The Instanex Skindia DR Index ruled barely steady at 2,307.54 on November 23, while the Dr Index P/E Ratio moved down fractionally to 26.96 from 27.02 previously, Instanex Instanex Capital release said here today. Following are the GDR and ADR rates for Nov 23 in US dollars with differences in percentage from the previous level given in brackets. Bajaj Auto (GDR) 57.00 (UNCH) Dr Reddy (ADR) 16.40 (UNCH) HDFC Bank (ADR) 74.35 (UNCH) Hindalco (GDR) 3.93 (UNCH) ICICI Bank (ADR) 39.30 (UNCH) Infosys Tech (ADR) 54.13 (UNCH) ITC (GDR) 4.10 (UNCH) L&T (GDR) 31.10 (+0.60) MTNL (ADR) 6.19 (UNCH) Ranbaxy Labs (GDR) 8.45 (-0.03) Reliance (GDR) 57.00 (-0.25) Satyam Comp (ADR) 24.24 (UNCH) SBI (GDR) 69.04 (-0.16) VSNL (ADR) 19.59 (UNCH) Wipro (ADR) 15.74 (UNCH) (PTI) |
GAIL to import 5 mn tonnes LNG from Algeria, Nigeria NEW DELHI, Nov 24: GAIL today said the company is in advance talks with Algeria and Nigeria for importing five million tonnes of LNG, starting 2009 onward. "The talk are at an advance stage for getting LNG on the long term basis," a senior GAIL official said here. He said, Ratnagiri LNG terminal would be ready by mid-2007 and 1.2 million tonnes of LNG for the Dhabol power plant would made available by February 2007. Currently, the plant is running on Naptha. (PTI) |
Tea major Assam Company raises Rs 206 cr thru FCCBs MUMBAI, Nov 24: Leading tea producer, Assam Company Limited today said it has raised Rs 206.54 crore (46 million dollar) through Foreign Currency Convertible Bonds (FCCBs). In a filing on the National Stock Exchange, the company said it raised the amount through zero coupon unsecured FCCBs convertible into equity shares at a conversion price of Rs 28.75 at a premium of 19 per cent to its closing price of November 23. The bonds have a tenure of five year and seven days, with yield-to-maturity of 8.25 per cent, it added. London-based Silverdale Services Limited was the sole lead manager for the offering. Earlier, Assam Company, owner around 18 tea estates, said it would raise up to 50 million dollars through issue of FCCBs in overseas market. In September, Assam Company's wholly owned subsidiary, UK-based Duncan Macneill Natural Resources Ltd (DMNRL), had entered into an agreement with Torno Investments Ltd to float a new company Duncan Macneill Torno Infrastructure Ltd (DMTIL) to foray into the infrastructure and energy sectors. (PTI) |
Emco bags Rs 38cr order from PGCIL NEW DELHI, Nov 24: Emco Ltd today said it has received a Rs 38 crore order from Power Grid Corporation of India Ltd (PGCIL) for establishment of a 400 KV sub-station. The project is to be completed in two years a statement said. The current order book position of the company stands at Rs 830 crore. (UNI) |
Mobile roaming charges set to fall, TRAI issues consl paper NEW DELHI, Nov 24: In a major relief to the mobile users, TRAI today sought stakeholder's opinion in bringing down the roaming charges by various measures, including fixing a ceiling tariff for services based on usage. TRAI has initiated a consultation process on Review of Ceiling Tariffs for Roaming Services. In its analysis, the regulator said, "The Authority proposes to revise the existing roaming tariff by fixing a ceiling Tariff for roaming services based on usage. It means that there shall be no rental component for availing roaming services and there shall only be a composite roaming tariff on per minute basis". But at present it has sought views of the industry on its suggestion. At present roaming charges are high for both the domestic as well as international mobile customers. There is a monthly rental at Rs 100 (ceiling), the national roaming airtime charges of Rs 3.00 per minute (ceiling), a surcharge at 15 per cent on airtime component (ceiling) and PSTN charges as applicable from time to time to the fixed network. Tariffs for international roaming services are under forbearance. "There is a growing impression among the subscribers of mobile services and other stakeholders that there is a strong case to revisit the roaming tariffs. The Authority studied the prevalent roaming tariffs in the market and has flagged the issue of inadequate competition for roaming services", the regulator said. (PTI) |
Electricity transmission improved BHOPAL, Nov 24: The decision to handover electricity transmission and related activities to the Madhya Pradesh Power Transmission Company Ltd (TRANSCO) has started yielding dividends. Transmission process capacity has increased significantly from 3,800 MW to 6,100 MW, while transmission loss had been brought down to 5 per cent from 7.98 per cent. The availability of transmission capacity level touched 98.41 per cent in 2005-06 against previous 93 per cent. Efforts were on to obtain 99 per cent level. The problem of low voltage and overloading had been controlled considerably. Meanwhile, a new network of 50 new 132 KV sub-stations and 10 new 220 KV sub-stations were set up, an official statement said here. A 6,800 MVA had been added to the 100 high-tension sub-stations by TRANSCO to facilitate transmission. Besides, the work of 2,500 circuit kilometer voltage line had also been completed by the company. TRANSCO had bagged several awards including two awards from the International Agency Asian Power - Charlton media group and one from the Centre for its excellent implementation. The Centre has also announced to award TRANSCO for implementation of the project in minimum time limit under the line project. TRANSCO was recently conferred with 'Utility of the year award' in Asia, besides an international award under the line project at the function held at Hong Kong, it added. (UNI) |
Largest conferance on FOSS begins BANGALORE, Nov 24: India’s most focused and largest conference on Free Open Source Software (FOSS).In 2006 commenced here today providing open source community a meeting point to exchange the latest developments and future trends. The Union Ministry for Communication and Information Technology is the main sponsorer of the event which over the next three days see talks, tutorials, workshops and discussions with the focus on development of free open source and contributions made to enrich the open source. The event intend to serve as a forum for discussing and examining the latest in free open source software technologies, migration and deployment of foss, business models in foss services and overall adoption strategies ins ectors such as Government, education and military use. The event which commenced in 1999 as part of the Bangalore it.Com has now blossomed into a much soft after event not only in India but across the world. (UNI) |
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RBI nod for setting up new branches, ATMs MUMBAI, Nov 24: Following market regulator SEBI’s decision to allow the bank to open fresh demat accounts, HDFC bank today said it has also received approval from the Reserve Bank for setting up additional branches and ATMs. In a filing on the Bombay Stock Exchange, the bank said it had received RBI’s approval for establishing new branches and off-site ATMs. It has also been permitted by SEBI to open new demat accounts, the bank added. HDFC bank had earlier been barred from opening new branches and demat accounts as it did not show the required alertness in preventing unscrupulous investors corner major portion of IPOs by opening multiple demat accounts in fictitious names. (PTI) |
Rural Job Guarantee Scheme monitored regularly: Minister NEW DELHI, Nov 24: Government today assured the Lok Sabha that politics will not be allowed to impede the implementation of the rural job guarantee scheme and said regular monitoring was being done to ensure its success. There was no question of politics coming in the way of putting into action the National Rural Employment Guarantee Act (NREGA) which was a demand-driven programme, Rural Development Minister Raghuvansh Prasad Singh told the question hour. He was responding to queries on the outcome of schemes under the act in various states so far including charges that certains states were given "step-motherly" treatment. Observing that the act would be applicable to all districts across the country withing five years, Singh appealed to members to help the Government in ensuring proper implementation of the job guarantee programme launched on February 2 this year. "Every rural household, whose adult members volunteer to do unskilled manual work, is entitled for at least 100 days of work in a financial year on demand. Hence, no targets can be fixed under nrega," he said, giving out details about 200 districts where the statute at present is under operation. Contending that the programme had a "late start" in some states due to elections besides rains affecting its progress, the minister referred in this regard to Tamil Nadu, Bihar, Kerala, West Bengal and Assam where Assembly polls were held and Meghalaya where bye-elections were conducted. "The onset of rains has also affected the progress of the programme," he said. (PTI) |
Tata plays down reports of corus takeover price NEW DELHI, Nov 24: Tata Steel, which is mulling options to defeat Brazil’s CSN’s counter-offer to its takeover proposal of Anglo/Dutch steel maker corus, today played down reports of the Indian giant raising the price saying the company had not taken any decision in the manner speculated. "Tata steel has not taken any decision in the manner speculated in the media at its scheduled board meeting held on November 23," the company said in a press statement. The statement, however, did not elaborate. "Tata steel is not making any other comments on this matter and all media comments remain speculations," it said. The Indian company had in October made a 8.1 billion dollar takeover offer, but Brazil’s Companhia Siderurgica Nacionl sa trumped Tata with a slightly higher offer of 8.3 billion dollars for Europe’s second largest steel maker. (PTI) Video-sharing: Catching the fancy of desi netizens NEW DELHI, Nov 24: Video-sharing, the new source of entertainment that facilitates internet users to upload, view, and share video contents, is becoming popular in India with new sites being launched. "The future of this market is very bright because of two reasons. Firstly, India is going through the convergence of technology, and the web 2.0 technology is also on the anvil. Secondly, the entertainment industry is growing well. In the past 2-3 years, growth of the entertainment industry was the highest. Nowadays people are willing to spend money", says Kanwaldeep S Kalsi of Meravideo.Com. The number of page views ranges from 80,000 to 90,000 per day, and an estimated 80-90 per cent of page are downloaded. We are already pilot-testing the syndication of videos to mobile phones which will hit to market in near future, says Kalsi. "We are now in the process of collecting videos and our aim is to get the customer into the habit of video-sharing. The pilot testing of the data version is being done, and we will launch the beta version in 2-3 months. Our aim to create a market in this field." "Because of less connectivity, it may take around two years to popularise but it is for sure that video-sharing concept will be a success", Kalsi says. India-centric video-sharing sites are gradually growing now, as is evident from the three popular web sites —Apnatube.Com, infeedia.Com and Meravideo.Com — that are revolutionizing the concept of video-sharing. While one of the video-sharing websites Apnatube.Com allows a user to view and share, even rate, videos free of charge, others allow users to post India-centric videos from other popular video sites. "Broadband and 3G networks are providing greater ability to distribute video and audio content. In this digital era, computers and mobile devices are evolving into personal communication and lifestyle devices. Cutting-edge technology and broadband penetration among global indians with 51 per cent using the internet on a daily basis reveals the potentiality of content sharing on internet," says Rajjat Bharjatya of Rajshree Media Ltd. The group is launching a wap portal in view of integration of rich content for personal computers; Also mobile phones will be a significant touch point with an estimated 300 million indian cell phone users and 100 million internet users by 2008, he says. Most of the video content hitherto made by amateurs was for fun. But recently search-engine giant google took an initiative to change that mode from fun to business by inviting talented videographers to share in the AD revenue generated by their clips. Video-sharing sites in India may not be in league of big names like Youtube because video-sharing requires high bandwidth, which is not available in most of the cyber cafes in India. However, provided the growth of technology in India, video-sharing concept is sure to carve a name for itself in the future, those in the industry say. (PTI) |
Mobile roaming charges set to fall, TRAI issues consl paper NEW DELHI, Nov 24: In a major relief to the mobile users, TRAI today sought stakeholder’s opinion in bringing down the roaming charges by various measures, including fixing a ceiling tariff for services based on usage. TRAI has initiated a consultation process on review of ceiling tariffs for roaming services. In its analysis, the regulator said, "the authority proposes to revise the existing roaming tariff by fixing a ceiling tariff for roaming services based on usage. It means that there shall be no rental component for availing roaming services and there shall only be a composite roaming tariff on per minute basis". But at present it has sought views of the industry on its suggestion. At present roaming charges are high for both the domestic as well as international mobile customers. There is a monthly rental at Rs 100 (ceiling), the National Roaming Airtime charges of Rs 3.00 per minute (ceiling), a surcharge at 15 per cent on airtime component (ceiling) and PSTN charges as applicable from time to time to the fixed network. Tariffs for international roaming services are under forbearance. "There is a growing impression among the subscribers of mobile services and other stakeholders that there is a strong case to revisit the roaming tariffs. The authority studied the prevalent roaming tariffs in the market and has flagged the issue of inadequate competition for roaming services", the regulator said. TRAI’s consultation paper to review the existing roaming tariffs was necessitated as tariff for roaming services in cellular telephony was fixed way back in 2002. A number of significant developments have taken place since then which include introduction of Calling Party Pays (CPP) regime, fixation of cost based Interconnection Usage Charges (IUC), periodical review of the IUC regime, reduction in the applicable licence fee payable by the operators on the Adjusted Gross Revenue (AGR) and the explosive growth of subscriber base and the resultant growth in minutes of usage. Keeping these factors in view, the authority has raised several questions in the consultation paper like should TRAI fix an usage based composite ceiling tariff for national roaming services for various types of calls, among others. Alternatively, it wondered whether the authority adopt the home pricing rule for all types of calls while roaming. It also wondered whether there should be any surcharge on national roaming tariffs and whether outgoing sms will attract any tariff while roaming other than the one applicable in the home network usage. The last date for submission of comments by stakeholders is December 14, 2006. (PTI) |
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