ET NEWS

Manminder SinghMBA 2C

India would intervene in forex if needed: RBI

India would intervene in the foreign exchange markets if needed to maintain stability, the central bank's governor said during a panel discussion at the International Monetary Fund in Washington on Saturday. 

Foreign institutional investors have pumped a record $21.3 billion into Indian equities so far this year, helping push the rupee to a 25-month high last week. 

Railways earnings up by 7.83%

Railways have earned nearly 7.83 per cent more revenue during April-September this year as compared to the earnings in the same period last year. 

The total earnings of Indian Railways during April-September this year were Rs 44,323.70 crores compared to Rs 41,104.78 crores last year. 

The total goods earnings have gone up from Rs 27,629.01 crores during April-September 2009 to Rs 29,443.32 crores during April-September 2010, an increase of 6.57 per cent. 

IndiGo surprises analysts with Rs 550cr profit in FY10

Low-fare airline IndiGo surprised the analyst community by stating it has managed to grow its net profit more than five times to Rs 550 crore in 2009-10. The unlisted airline cited lower costs and higher revenues but did not furnish further details of the leap. There is a substantial growth in revenues. More aircraft have been added and as a result of this our available seat kilometres measures (ASKMs) have gone up by 28%. IndiGo’s revenue increased 35% to Rs 2664.5 crore for the year.

Johnnie Walker Double Black set for global launch next year

In January this year, the world's largest maker of alcoholic drinks, Diageo, conducted a marketing experiment. It launched Johnnie Walker Double Black , a smokier variant of its 12-year-old blended scotch Johnnie Walker Black Label , at duty-free outlets across six airports. Being a strong gifting channel, global travel retail offered Diageo an ideal platform to test Double Black. Overwhelmed by the franchise for the amber spirit, Daigeo is set to distribute the brand across all sales channels worldwide by next year. 

RIL wrong in seeking out-of-turn hike in price: Oil Ministry

The oil ministry has said Reliance Industries is not right in seeking an out-of-turn hike in price of natural gas produced from KG-D6 fields and asserted the USD 4.205 per mmBtu rate will prevail unless pricing formula is changed. 

The ministry has taken exception to RIL's September 6 letter that stated that GMR Energy and Welspun Maxsteel were willing to pay USD 4.75 to USD 5.25 per million British thermal unit for KG-D6 gas. 

Sterling Hospitals looks for acquisition in two state cities

Private equity player Actis-controlled Sterling Hospitals may look for acquisition or O&M (Own & Manage) model in two Gujarat cities. The hospital chain that is limited to Gujarat, would look for areas within the country once it consolidates its position in the state. 

Sterling Hospitals, the largest corporate hospital chain in Gujarat with presence in Ahmedabad , Vadodara, Rajkot and Bhavnagar, was set up by Paras Pharmaceuticals chairman Girish Patel who now holds a minority stake. The privately held Sterling Hospital’s turnover ranges between Rs 150 crore and Rs 200 crore.