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Maruti Suzuki, the largest passenger car manufacturer of the country, has reported 41.6% growth in its August sales figure.
The auto major sold total 84,808 units during the month under consideration against 59,908 units in August 2008.
The company sold 39.3% more vehicles in the domestic A2 segment while the A3 segment sales grew by 44.1% during the month against the year ago period.
The government has geared to come out with a uniform and single licence fee for telecom service providers soon, currently in the range of 6-10% of the revenue of these companies.The Telecom Secretary Siddharth Behuria has not divulged much detail, but it is believed that the unified licence fee could be nearly 9%. Following the internal telecom operator report, the government had to, in-principal, agree for de-linking the spectrum from the licence.
Conceding to the Subodh Kumar committee report, DoT has suggested de-linking spectrum from the licence and proposal for the same has been sent to TRAI for its opinion in the context.
Read moreUniform licence fee for operators soon: Telecom Secretary
After being criticized for disproportionate allocation of RIL KG basin gas, Petroleum minister Murli Deora has suggested reconstitution of the empowered group of ministers (EGoM) to decide on allocating gas to new customers.
After meeting with principal secretary to the Prime Minister, Deora has formally written to the Cabinet Secretary urging reconstitution of the eGoM on the lines of the previous ministerial group. Why does Murli Deora want this ? We believe someone in h current group is getting tough on Murli Deora.
Read moreWhy Murli Deora wants reconstitution of EGoM for RIL KG gas ?
Geodesic, the mobile, desktop communications and entertainment solutions provider, is eyeing an acquisition in the commercial and social networking space to expand its global presence. The board of the company has approved the proposal for the same. In May this year, the company had acquired South America based Interactive Networks Inc. Geodesic, founded in the … Read more Geodesic eyeing acquisition in the commercial and social networking space
Bombay Dying has a landbank of 64 acres across the two sites in Dadar and Worli, premium locations in Mumbai, which, according to management, carry at least 7msf (saleable) potential (based on current rules). Thus far, BD has developed roughly a total of 0.9msf
(equally between two sites).
So far, BD has developed a residential tower of about 0.43 msf (largely sold out, 18 apts left), which should be ready for handover in three months. The project was launched in September 2006 at BSP of about Rs10.5k psf, which peaked at 25k psf and is presently quoting at 18.5k psf. The company is planning another two residential blocks (0.45 msf each) at this location, with the first tower likely to be open for booking by March 2010.
Government owned-gas transmission and marketing major GAIL India, on Friday, signed a Gas Sales and Purchase Agreement (GSPA) with Mukesh Ambani-controlled Reliance Industries to source gas from the latter’s oil fields in the Krishna Godavari basin in the eastern offshore.
The agreement envisages purchase of 2.6 million standard cubic meters per day (mmscmd) of gas from RIL’s KG-D6 fields at government approved price of $4.2 per million British thermal unit (mBtu). Gas supplies are expected to begin from September 3, according to GAIL sources. However, in our opinion, the Government / GAIL should be entitles to the GAS at a much lower price of $2.4 per mBtu.
Read moreGAIL signs GSPA with Reliance Industries for KG Basin Gas – GAIL Under Loss