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Hospitality major, Global Hyatt Corporation, is planning to set up six hotels in Mysore, Lucknow, Indore, Mangalore, Hyderabad and Gurgaon in a joint venture with real estate major, Emaar MGF, by 2012-13 with an investment of Rs 1,000 crore. Apart from these six hotels, the company has already signed deals for 14 hotels, which is to … Read more Hyatt to set up six hotels in JV with Emaar MGF
Private sector insurer major, Bajaj Allianz Life Insurance Company, has declared its unaudited result for the third quarter ended December 2008. The company registered profit after tax of Rs 30 crore for the quarter ended December 2008, against a loss of Rs 35 crore in the previous corresponding quarter due to lower management cost and … Read more Bajaj Allianz Life – PAT of Rs 30 crore in Q3
As the ongoing global economic downturn puts brakes on the Indian growth story, the steel industry is under severe pressure to cut prices further in order to see demand pick up again. However, the country’s largest producer Steel Authority of India (SAIL) feels that there was no more room for prices to go down in … Read more No more space for steel prices to go down: SAIL
Foreign institutional investors (FIIs) were net sellers of Rs 484.33 crore (provisional) in the cash market on Thursday, as per information posted on the BSE website. While FIIs made gross purchases of Rs 1,326.66 crore, their gross sales aggregated Rs 1,810.99 crore. Domestic institutional investors (DIIs) were net buyers of Rs 175.12 crore (provisional) on … Read more FIIs net sellers of Rs 484 cr in cash market on Thursday
Sasken Communication Technologies has informed FreePress that Nortel Network has filed for Chapter 11 bankruptcy protection in North America and for the quarter ended December 31, 2008. It added that Nortel contributed less than 10% of company’s consolidated revenues also it currently holds less than 10% of the outstanding shares in the Company. The company … Read more Nortel holds 10% in Sasken Communications
MRF Ltd, India’s leading tyre company MRF, has decided to reduce prices by Rs 400 per tyre in the truck-tyre segment. The reduction in price was possible for the company owing to a descending trend in the price of natural rubber. Earlier the company had cut tyre prices after excise duties were lowered.