Reliance Industries net down 1%
Mumbai: India’s largest private sector company, the Mukesh Ambani-controlled Reliance Industries, on Thursday reported a 1 per cent drop in net profits for the quarter ended March 31 at Rs 3,874 crore (Rs 38.74 billion or $774.8 million). The turnover of the oil refining to retail major also dipped nearly 24 per cent at Rs 29,073 crore for the fourth quarter in what had been a difficult year for oil refining companies in the wake of high crude prices and lower margins. The results were announced after close of the bourses, with the company’s scrip ending at Rs 1,762.35. (IANS)
Citi’s Pandit among worst ever CEOs
New York: Donning the role of a commander ill-equipped to save the Titanic of banking world, Citigroup’s India-born chief Vikram Pandit has found a place among the 20 worst-ever CEOs in the American history, but the top honours has gone to bankrupt Lehman Brothers’ Dick Fuld. The list of America’s 20 worst ever CEOs, compiled by business magazine Conde Nast Portfolio after consulting with a panel of business school professors, identifies the business “leaders who helped drive their companies into the ground.” These 20 include “six men who helped make today’s economy stink”, the magazine said. (PTI)
StanChart hires bankers for India listing
MUMBAI: Standard Chartered Plc has hired bankers for a possible India listing, three banking sources said on Thursday. Standard Chartered has hired UBS, Goldman Sachs, DSP Merrill Lynch, its Indian unit Standard Chartered STCI Capital Markets and a couple of other banks, said the sources, who declined to be named. The size of an offer could not be determined immediately. “It is exploratory. We are getting ready in a regulatory standpoint. There is no assurance we will go ahead with a issue,” one banker involved in the deal said. (Agencies)
HCL unlikely to make campus offers
NOIDA: To save on the cost of training, one of the leading domestic software exporter HCL Technologies said it will hire people ‘just in time’ of requirement rather than maintaining a bench. HCL has been following the policy of just in time hiring, which has paid off well for the organisation, HCL Technologies CEO Vineet Nayyar said. Nayyar said the firm is unlikely to make campus offers. (PTI)
Mumbai: India’s largest private sector company, the Mukesh Ambani-controlled Reliance Industries, on Thursday reported a 1 per cent drop in net profits for the quarter ended March 31 at Rs 3,874 crore (Rs 38.74 billion or $774.8 million). The turnover of the oil refining to retail major also dipped nearly 24 per cent at Rs 29,073 crore for the fourth quarter in what had been a difficult year for oil refining companies in the wake of high crude prices and lower margins. The results were announced after close of the bourses, with the company’s scrip ending at Rs 1,762.35. (IANS)
Citi’s Pandit among worst ever CEOs
New York: Donning the role of a commander ill-equipped to save the Titanic of banking world, Citigroup’s India-born chief Vikram Pandit has found a place among the 20 worst-ever CEOs in the American history, but the top honours has gone to bankrupt Lehman Brothers’ Dick Fuld. The list of America’s 20 worst ever CEOs, compiled by business magazine Conde Nast Portfolio after consulting with a panel of business school professors, identifies the business “leaders who helped drive their companies into the ground.” These 20 include “six men who helped make today’s economy stink”, the magazine said. (PTI)
StanChart hires bankers for India listing
MUMBAI: Standard Chartered Plc has hired bankers for a possible India listing, three banking sources said on Thursday. Standard Chartered has hired UBS, Goldman Sachs, DSP Merrill Lynch, its Indian unit Standard Chartered STCI Capital Markets and a couple of other banks, said the sources, who declined to be named. The size of an offer could not be determined immediately. “It is exploratory. We are getting ready in a regulatory standpoint. There is no assurance we will go ahead with a issue,” one banker involved in the deal said. (Agencies)
HCL unlikely to make campus offers
NOIDA: To save on the cost of training, one of the leading domestic software exporter HCL Technologies said it will hire people ‘just in time’ of requirement rather than maintaining a bench. HCL has been following the policy of just in time hiring, which has paid off well for the organisation, HCL Technologies CEO Vineet Nayyar said. Nayyar said the firm is unlikely to make campus offers. (PTI)
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