Glaxo Pharmaceuticals reported 157 per cent increase in net profit for the fourth quarter ended December 31, 2008 due to significant increase in its income during the reporting period.
The company posted net profit of Rs 208.4 crore against Rs 80.9 crore in the same period last year, despite recession like situation across the world. Its total income stood at Rs 1742.6 crore, posting increase of 5.31 per cent as compared to total income of Rs 1654.6 crore for the fourth quarter in 2007.
The Mobile World Congress in Barcelona, Spain, Tuesday had GSMA announce its plan to realize an industry-wide standard with regard to a universal mobile phone charger by January 2012.
Bigwigs, like Nokia, Sony Ericsson, Motorola, Samsung, and Qualcomm, are among the seventeen mobile handset-makers and service-providers that are backing GSMA's announcement of a universal charging solution -UCS - based on the industry-standard Micro USB interface.
India's Reliance Infrastructure Ltd, part of the Anil Dhirubhai Ambani group, on Friday launched a Rs 700 crore ($144 million) buyback offer to boost its share price and returns.
The company said it would buy back shares from the open market at up to Rs 700 each, a premium of more than 27 percent to Thursday's closing price of Rs 550. It may be noted that the buyback announcement comes within a week of the infrastructure firm completing its Rs 796 crore buyback from the open market.
Shares of Indiabulls Securities closed in negative zone after touching intraday high of Rs 23 on Tuesday, after the company announced to buy back shares from the open market at a price of up to Rs 33. The Company' Board of Directors has approved the idea to buy-back of equity shares worth Rs 83.18 crore under the sub-section (2) of Section 77A of the Companies Act, 1956.
Leading banks are likely to cut interest rates by 50-100 basis points in days to come, a move that can help to generate demand and propel economic growth in the country.
External affairs minister Pranab Mukherjee, holding Finance portfolio due to bypass surgery of Prime Minister Manmohan Singh, is meeting top executives of banks on Monday to discuss the matter. He can ask banks to cut lending rates on home, retail and auto loans to revive demand in the economic system. Banks may revise prime lending rates (PLR) or the benchmark interest rate by 50-100 basis points besides some concessions for SMEs and infrastructure firms.
Government may take final decision today to allow unrestricted Internet telephony in the country amid stiff oppositions from various telecom services providers. Telecom Commission, the decision-making body for telecommunications, is meeting on Monday to discuss the matter.
Internet telephony would allow customers to make cheap STD and local calls from computers to mobile phones, eroding dominance of telecom companies in the domestic market.
Glaxo Pharmaceuticals reported 157 per cent increase in net profit for the fourth quarter ended December 31, 2008 due to significant increase in its income during the reporting period.
The Mobile World Congress in Barcelona, Spain, Tuesday had GSMA announce its plan to realize an industry-wide standard with regard to a universal mobile phone charger by January 2012.
India's Reliance Infrastructure Ltd, part of the Anil Dhirubhai Ambani group, on Friday launched a Rs 700 crore ($144 million) buyback offer to boost its share price and returns.
Shares of Indiabulls Securities closed in negative zone after touching intraday high of Rs 23 on Tuesday, after the company announced to buy back shares from the open market at a price of up to Rs 33. The Company' Board of Directors has approved the idea to buy-back of equity shares worth Rs 83.18 crore under the sub-section (2) of Section 77A of the Companies Act, 1956.
Leading banks are likely to cut interest rates by 50-100 basis points in days to come, a move that can help to generate demand and propel economic growth in the country.
Government may take final decision today to allow unrestricted Internet telephony in the country amid stiff oppositions from various telecom services providers. Telecom Commission, the decision-making body for telecommunications, is meeting on Monday to discuss the matter.
