News 2010: Year that it was...
News 2010: Year that it was...
Suresh Kalmadi, former Chairman of the Organising Committee of the Commonwealth Games(CWG) being mobbed by media photographers at the CWG venue in New Delhi.
Kalmadi was in the spotlight for allegedly causing massive financial losses to the exchequer while awarding contracts. The Central Vigilance Commission claimed to have found a criminal conspiracy and financial bungling in some of the tenders and award of works.
A worker at a Coal India Ltd mine.
In November, state-run Coal India Ltd (CIL), India's largest coal producting company received a huge response to its IPO, which was oversubscribed 15.14 times. CIL zoomed 32% above listing price of Rs 245 per share on its debut on the Bombay Stock Exchange on November 4. Its market capitalisation in the first hour of trading was Rs 2,03,860 crore.
Brothers Anil Ambani and Mukesh Ambani at an annual meeting in January 2004.
On May 7, 2010, the Supreme Court delivered a crucial judgement favouring Mukersh Ambani-led Reliance Industries (RIL) of the gas prices dispute between RIL and Anil Ambani-led Reliance Natural Resources Ltd (RNRL), which is now absorbed with its sister concern Reliance Power in a share swap deal.
Whistle-blower website Wikileaks, founder, Julian Assange reacts after being arrested in London.
After a series of secret documents of 3,000 cable disclosures ranging from Delhi to Washington by Wikileaks. Assange had been arrested on December 7,2010. The 39-year old Australian was charged with sexual assault and was released on December 16 on a bail of 2,40,000 pounds.
M&M enetred the two-wheeler market with the launch of Stallio
The two wheeler's ambassador Aamir Khan pose along with Anand Mahindra and Anup Mathur(right)
Mahindra and Mahindra(M&M) launched its first two wheeler Stallio in September. Stallio is designed on 110c - 4 stroke engine at Rs 42,000 (for kick start and spoke wheels) and Rs 44,699 (ex-showroom price) for alloy wheel and electric start. The company's second model MOjo, claiming to be India's fastest bike, is likely to hit the market in January.
Cairn Energy chief Bill Gammell and Anil Agarwal, CEO of Vedanta Resources at a meeting
Anil Agarwal-owned Vedanta Resources bought 51% stake in Cairn India, Cairn Indian unit, for $9.6 billion deal.State-run ONGC's stake in Cairn has demanded the State's approval of the deal which is likely to be sorted by March 2011.
Vedanta Resources was also in news after the Ministry of Environment and Forests(MoEF) questioned the clearance of its Niyamgiri hills project.
A worker cleans the Hero Honda logo
Hero Honda, India's largest two-wheeler manufacturer, broke up its 26-year old joint venture in mid-December after the Munjals bought 26% stake in the venture for $1-2 billion. Honda has planned to invest in the Indian market by itself after the termination of the JV.
Sources say the emission norms led to an exit by the Honda and pollution rules set to be enforced from 2015 require heavy investment in R&D, new technology.
A worker making combs in a small scale industry
The microfinance industry in India saw a huge leap with the biggest IPO by a Microfinance Institution(MFI). SKS Microfinance IPO on August 16 was listed at a price band of Rs 985 and was oversubscribed by 13.6 times. The IPO raised about $358 million and got listed 18% above issue price opening doors for more MFIs to venture into this market.
This was the biggest investment by any microfinance firm. US billionairs George Soros, Infosys mentor Narayan Murthy and venture capitalist Vinod Khosla were among the investors.
SKS was is facing dribble due to the recent caps in MFI functioning by a bill passed by Andhra Pradesh government.
Fortis Chairman Malvinder Singh at the press conference announcing the stake in Parkway Holdings in March.
Fortis Healthcare lost its bid to Khazanah in July, 2010. In March, Fortis had emerged as the largest shareholder in Parkway after acquiring 23.5% stake for S$1,000 million.
Investors stand in the front of the BSE screen in Mumbai
The year 2010 has been hit with the maximum IPOs for the Indian stock market. Year 2010 saw Indian companies raise a record Rs 71,100 crore through IPOs.
This year features 70 public issues, which includes 62 initial public offerings (IPOs) and eight follow-on public offerings (FPOs), according to data complied by brokerage firm SMC Global Securities.
Companies like SKS Microfinance, Coal India Ltd (CIL) - the biggest IPO of the year, Manganese Ore India Ltd (MOIL) received huge response from investors. Compnaies like Engineers India Ltd, Talwarkars, Career Point and others also made their mark on the stock market.
Nitish Kumar takes the chair of Bihar for the second term
Kumar was crowned the chief minister of Bihar for the second time by the people of Bihar voting in favour of development and progress. Nitish Kumar won the Bihar elections on November 24,2010 after the JD(U)-BJP alliance scored over 201 seats in Bihar out-throwing RJD and COngress to suffer their worst defeat.
Political analysts have lauded the election results seeing reform-based changes in the state and among the voters.
Indian Prime Minister Manmohan Singh(left) and US president Barack Obama greet the Members of Parliament on the latter's arrival at the the Parliament House in Delhi during Obama's 3-day visit to India
Obama's three-day visit to this country was noted for his attempts to facilitate a boost American businesses in Indian markets. His visit followed the trouncing of the Democratic Party in the mid-term polls. His visit also made waves for his promise to back India for a permanent position in the UNSC.
The US spent approximately Rs 900 crore per day. 34 warships were sent along with the President for security
India and US signed deals worth $10 billion
The United States First Lady Michelle Obama shakes a leg with Indian students performing Maharashtra's traditional Koli dance for US' first couple at the Mumbai University
Michelle on her India visit with husband and US President Barack Obama celebrated Diwali with Indian students, played hopscotch, danced to the Indian melodies and bhangra beats.
Michelle Obama impressed the Indians with her elegant style and an eloquent speech at the St. Xaviers' Institute capturing world media attention with grace and honour in the so called 'milestone' 3-day visit to India.
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