Financial Express - India's leading business newspaper from the Indian Express Group

PMO relents on PSUs' telecom foray

The Prime Minister's Office (PMO) has relented on the issue of PSUs joining the telecom venture after it failed to persuade them to form a joint venture company for the purpose.

Nicholas Piramal sells bulks business for Rs 26.2 crore

Nicholas Piramal has disposed of its bulk drug business, part of its wholly- owned subsidiary, Global Bulk Drugs Ltd, for Rs 26.2 crore.

EPF trust spikes ministry's directive to cut interest rate

The Employees' Provident Fund (EPF) trust rejected the finance ministry's directive to reduce the interest rate on provident fund to 11 per cent.

L&T caught on wrong foot over Esop scheme

L&T finds itself on a sticky wicket over its proposed stock option scheme. The board of directors of the diversified conglomerate, which ratified the stock option scheme on July 4 when the stock closed at Rs 262.50 on the BSE,, has decided to price the options at only Rs 184.

Essar Oil springs a surprise, coughs up Petronet dues

Essar Oil has, in a surprising yet welcome development, paid up its dues in Petronet India and retained its status as a shareholder in the company.

Tata Engineering Q1 net loss mounts to Rs 74 cr

Tata Engineering has incurred a net loss of Rs 74 crore in the first quarter of the financial year as against a Rs 34 crore loss incurred in the corresponding period last year.