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The government is ready to take tougher attitude against those companies that understate operations in terms of production or capacity in order to get a relief in advance tax obligations. There is an added clause in the Collection of Statistics Bill, 2008, passed by Parliament last month, which states that data manipulation by a company … Read more Understating operations to save tax – Face stricter penalties
Foreign institutional investors (FIIs) were net sellers of Rs 308.15 crore (provisional) in the cash market on Tuesday, as per the information available on the BSE website. While FIIs made gross purchases of Rs 786.51 crore, their gross sales aggregated Rs 1,094.66 crore. Domestic institutional investors (DIIs) were net buyers of Rs 185.05 crore (provisional) … Read more FIIs net sellers of Rs 308 cr in cash market on Tuesday
Tata Steel’s proposed 1.5 million tonnes per annum (mtpa) steel plant in Orissa has been put on hold as the state government is facing difficulties in acquiring land for the project. Tata, which has a sponge iron unit at Bileipadar in Keonjhar district, had considered setting up a 1.5 mtpa steel plant adjacent to its … Read more Tata Steel’s Orissa initiative put on hold
Rolta India held a conference call to discuss second quarter results for FY09 and future prospects. Mr Hiranya Asher, Director – Finance, addressed the call. Highlights of the call The order book at the end of December 2008 was marginally up at Rs 1590 crore executable over 12-18 months: Geospatial Information services Rs 710 crore, … Read more Rolta India – May buyback FCCBs
Jet Airways held a conference call to discuss quarterly and nine months ended results and future growth plans. Wolfgang Prock-Schauer, Chief Executive Officer (CEO), addressed the call. Highlights for quarter ended December 31, 2008 vs. December 31, 2007 Operational System-wide ASKMs of 8,114 million, up 23.2% System-wide RPKMs of 5,369 million, up 17.9% System wide … Read more Jet Airways – Struggling to Fly at breakeven
GSS America Infotech Ltd has informed FreePress India that a meeting of the Board of Directors of the Company will be held on January 29, 2009, inter alia, to consider the following: 1. The unaudited financial results of the Company, both standalone and consolidated, for the third quarter ended December 31, 2008 in the current … Read more GSS America Board to consider Buy-back of equity shares