Wrap up: Virtually free calls, an unhappy Lavasa while Ambanis kiss and make up

Confused and intimidated by the amount of news hurtling at you everyday? Well, to make your life easier, here’s a quick round-up of the major local and international business and economic news events that happened today.

Govt wants to raise petrol prices once again

The government wants to raise the price of petrol once again by about Rs 2 right after a month of raising it by more than Rs 3. And the government does not think it is responsible. It rather passes the buck on to the oil companies, who they say have decided they need the hike. Firstpost gives you a reason why we are facing the hike again.

5 stocks that have given more than 100% return in the last month

In a situation when Europe and the world markets at large are not putting up a great show, we tried to find out if there are stocks that have given really handsome returns. Out of the BSE 500, we found only 5 stocks that have given more than 100 percent return over the last one year. Here are the stocks. Are you a proud owner of any of these?

SKS Microfinance to raise Rs 900 crore

SKS Microfinance, once a darling of the stock markets and the only listed pure microfinance player in India has decided to raise Rs 900 crore. And it is planning to appeal to the institutional investors for the money. The stock has taken a beating after the business was hammered when Andhra Pradesh government intervened. Here is the story.

Phone calls virtually free

After the New Telecom policy gave a hint that roaming charges could be done away with, here is more good news from Trai. The telecom authority has submitted a proposal to Supreme Court which could make phone calls virtually free for cell phone users. Here are the details.

Lavasa unhappy with MoEF

Ajit Gulabchand is indeed unhappy. The chairman of Lavasa is unhappy with the Ministry of Environment and Forests for discriminating against the company. He insisted that the company has not done any violations and the project enjoyed the confidence of the state government. Read on.

No love lost between the Ambani brothers

The great Indian family is happy and back together. Or so it seems. Economic Times reported that Mukesh Ambani, is likely to use the tower and fibre optic cables of Reliance Communications, owned by younger brother Anil, to provide high-speed data services. So are they back together, see what we think.

Cognizant earnings up 11%, beats Street estimates

US-based Cognizant Technology Solutions Corp posted third-quarter profit ahead of Wall Street estimates, helped by growth across all its business units. The company’s earnings rose 11 percent at $227.1 million, or 73 cents a share, compared with $203.7 million, or 66 cents per share, a year ago as robust demand from its clients drives growth across all its business units. Here are some details .

Google offers free websites to SMEs

Google is now warming up for some serious business in India. Buying into the India growth story, it now will offer free websites to small and medium enterprises to gain more business in next three years. Here is more about Google’s plans .

Gail earmarks $400 mn for Singapore LNG trading biz

Gas marketing firm Gail has earmarked $400 million for its new Singapore trading office to secure LNG and petrochemical product cargoes for delivery to India in 2012, chairman and managing director B C Tripathi announced in Singapore today. This trade will be 90 percent in LNG. You can get the details here .

Kingfisher Airlines deny talks of restrcutring debt

The King of good times is hardly in the party mood with huge debts and mounting losses piling on its airlines. But they still deny any talks of restructuring their debt. The company today said they are just in talks with lenders to substitute high cost rupee debt with low cost foreign currency debt. Read on to find out what they have to say.