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Despite rise, gold returns less than a checking account since 1980
Gold’s best year in three decades has yet to match the returns of an interest-bearing checking account for anyone who bought the most malleable of metals coveted for at least 5,000 years during the last peak in January, 1980.

Sun Pharma, Forest settle US suit on Lexapro
Sun Pharmaceutical Industries and its subsidiary, Caraco Pharmaceutical Laboratories, have reached a settlement agreement with drugmaker Forest Laboratories and licensing partner H Lundbeck AS, over a pending patent infringement dispute over Forest’s blockbuster antidepressant, Lexapro.

News of the day

QIP shares jump 23%, IPOs lag
Investors who bought shares in the primary market through qualified institutional placements (QIPs) have reason to celebrate as their money in 50 QIPs has grown 23 per cent in 2009. On the contrary, investments in initial public offers (IPOs) during the period have come down 3 per cent. It means that Rs 37,040 crore of investments in 50 QIPs have risen by Rs 8,545 crore, while IPOs saw a value erosion of Rs 268 crore.
Public Relations

Aditya Birla Retail mulls IPO

Aditya Birla Retail, the country"s second-biggest supermarket operator, is considering an initial public offer (IPO) and will time it as soon as the company starts spinning profits. - Aditya Birla Retail mulls IPO - RIL outlines growth plan, scouts for overseas buyouts - Diwali surge in sales cheers retail chains - Keventer Agro invests Rs 125 cr for first cold store chain in Bengal - Sales not impacted by swine flu so far: Aditya Birla Retail - Retailers divided over tax sops on cold chains, agri warehouses "We will definitely be open to an IPO, but it will be closer to the time of profitabillity... around 2012 or maybe even before that when we sight profitability," Aditya Birla Retail (ABRL) CEO Thomas Varghese said in Mumbai. He said that the company had still not determined the amount of equity it would dilute. "We want to get the maximum value for the equity that we have and that we will get only when we are able to show profitability and demonstrate long-term growth potential," Varghese said. The company, which operates over 650 supermarkets and three hypermarkets across the country, is also open to bringing financial investors on board. "We are not opposed to diluting our stake marginally to give it to a private equity player as long as his background profile meets our own aspirations. We want a passive financial investor," he said. Varghese has charted out an ambitious growth plan for the company over the next 5-6 years and plans to make Aditya Birla Retail a $2-billion entity by 2015-16.


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