Month: July 2009

With the heating up of much awaited 3G spectrum allocation, the government has set up a Group of Ministers (GoM) to look into the pricing issue and auctioning for 3G spectrum, revolutionizing the era of communication and information on mobile phones. According to information sent to us from Delhi, the GoM will be headed by … Read more Govt sets up GoM to handle 3G spectrum issues

While the policy makers worldwide have been celebrating green shoots or signs of improvement from major world economies in last few months, the World Bank feels that the recovery was still fragile and policy makers needed to avoid over-optimism in handling the economy going forward. Chief of the multilateral body Robert Zoellick expressed cautions on … Read more Recovery still premature: World Bank

Foreign institutional investors (FIIs) were net sellers of Rs 903.32 crore (provisional) in the cash mart on Friday, as per information posted on the BSE website. While FIIs made gross purchases of Rs 1,713.69 crore, their gross sales stood at Rs 2,617.01 crore. Domestic institutional investors (DIIs) were net buyers of Rs 886.13 crore (provisional) … Read more FIIs net sellers of Rs 903 cr (prov) in the cash mart on Friday

For the second time in ten months, infrastructure construction company Gammon India has been held responsible for an accident. Earlier, it was flyover accident at Panjagutta in the heart of Hyderabad and now collapse of a part of an under construction Delhi Metro line on Sunday. The pillar holding up the overhead railway tracks collapsed … Read more Gammon India involved in Delhi Metro Mishap

BGR Energy Systems, the EPC company for power projects, has received a turnkey EPC of balance of plant (BOP) contract from Maharashtra Power Generation Corporation (MAHAGENCO) for execution of the 2×500 MW Chandrapur Super Thermal Power Stattion (STPS) expansion project at Chandrapur, Maharashtra. The contract is valued at Rs 1631.80 crore and is expected to … Read more BGR Energy bags contract worth Rs 1632 crore

The Indian auto ancillary industry is sitting on a double-edged sword that has presented a bleak prospect for the industry in the near term. On one hand, Chrysler and General Motors bankruptcies have adversely affected the revenue visibility of the industry, the depreciation of the rupee against the dollar is likely to further grim the … Read more Indian Auto industry hit from US auto bankruptcies: Fitch