Business News

Hero Honda sees growth tapering off in H2FY10

He is among the CFO’s who won the top honours at the CNBCTV18 CFO awards last night. In an interview with CNBCTV18, Ravi Sud, CFO, Hero Honda gave his assessment of the economic recovery, his outlook for the twowheeler industry and the country’s transition to GST next year.

LT joint venture among bidders for Oman airport deal

Four international firms including a joint venture between India\'s Larsen Toubro and Oman\'s Galfar Engineering have bid for the construction of a new terminal at Muscat\'s airport.

Suzlon unit wins US wind turbine order

Suzlon Energy said on Wednesday its German unit REpower Systems has signed a contract to supply wind turbines with a total capacity of 18.45 mw to US firm Heritage Sustainable Energy LLC.

Lakshmi Mittal pulls out of oil block JV with ONGC

Oil Natural Gas Corporation said steel magnate Lakshmi Mittal has pulled out of a project to jointly develop an oil block in Kazakhstan, but their partnerships in other blocks were intact.

Wockhardt plans preferential issue

Drug maker Wockhardt said on Wednesday it plans a preferential issue of up to 1.6 billion convertible or nonconvertible redeemable preference shares at Rs 5 each.

Alcatel Lucent sees Asia as growth engine

FrancoUS telecoms equipment seller Alcatel Lucent said on Wednesday it believes it is gaining market share in Asia, as it gears up to try for a major share of India\'s upcoming 3G buildout.

IDBI Fortis Life eyes over 74% rise in premium in FY10

IDBI Fortis Life Insurance expects premium incomes to rise over 74 % in 2009/10, a top official said on Wednesday.

McIlroy swayed by India`s Singh in US PGA Tour decision

Rory McIlroy has revealed a conversation with Jeev Milkha Singh swayed his decision to join the US PGA Tour next season, despite advice from Ernie Els, Lee Westwood and Darren Clarke to stay in Europe for another year.

Nippon denies report of talks for stake in JSW Steel

Japan\'s Nippon Steel Corporation on Wednesday denied a report that it was in talks for a stake in JSW Steel.

Bowen Energy to become 58.8% subsidiary of co:Bhushan Steel

Bhushan Steel\'s acquisition of Australian coal and mineral resource exploration company, Bowen energy, had hit regulatory hurdle. In an interview with CNBCTV18, Neeraj Singal, MD, Bhushan Steel Strips spoke about the issue and gave an outlook on the business going forward.

Divestment through govt stake sale, not fresh issue: NMDC

Rana Som, Chairman of NMDC confirmed that the government will divest 8.38% stake in NMDC. “The divestment will be through government stale sale and not fresh issue.” The present cash balance stands at Rs 13,000 crore and is seen at Rs 14,500 crore by next year.

LT Infotech eyes cos worth $150200m for synergy

YM Deosthalee, WholeTime Director and CFO of engineering giant Larsen Toubro the recipient of the Best CFO of the Year award spoke about the latest happenings in his company and the road ahead.

Essar Group expects pressure in iron ore, coal prices

Indian Steel Mills have cut steel prices twice in the last 3040 days in line with lower international prices. Commenting on how that has impacted the Indian steel sector, J Mehra, Director of the Essar Group, speaks exclusively to CNBCTV18.

LT Infotech sees business improving in H2FY10

Business is picking up for LT Infotech in the second half of the 2009/10 fiscal year and should improve further next year, the chief executive of the outsourcing firm said in an interview on Wednesday.

Lost Australia senior drives 9 hr to get newspaper

An elderly man who went out to fetch a morning newspaper ended up driving more than 600 kms (370 miles) after getting lost and taking a wrong turn onto a major Australian highway, police said on Wednesday.