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July 21, 2010 by | No Comments
A majority of economists expect the Reserve Bank of India (RBI) to raise key interest rates by 25 basis points in its quarterly review on July 27 and tighten policy further in coming quarters, a new Reuters poll showed. While headline inflation has been in double-digits for five months running and economic growth is expected [...]
July 14, 2010 by | No Comments
Though many are of the view that India’s wholesale price inflation can come down to 5-6% by December, RBS believes it to remain in double digits till July and says it will start easing off only from August. “We may not see foodinflation coming down till this year-end,” he adds. Further commenting on the industrial [...]
July 14, 2010 by | No Comments
Tata Steel, the world’s No. 8 steelmaker, plans to raise about USD 2 billion through fresh equity over the next quarter to help fund expansion in India and abroad, the Financial Chronicle said on Wednesday. The steelmaker had sounded out investment banks to finalise a lead arranger for the offering, the newspaper said, citing bankers [...]
July 14, 2010 by | No Comments
The Finance Minister Pranab Mukherjee today said that the joint committee envisaged by the Unit Linked Insurance Plan or ULIP ordinance won’t hurt the independence of regulators. He said the government will have a minority of three members in the committee and the four regulators will have a majority. Mukherjee said, “The ordinance raises clearly the point [...]
July 14, 2010 by | No Comments
The government is looking at divesting 20% in Manganese Ore India Limited. Out of which 10% of this stake will be divested by the Central Government, 5% by the Maharashtra Government and 5% by the Madhya Pradesh Government. This is the first case of divestment where both the Central and State Governments are divesting stake. [...]
July 14, 2010 by | No Comments
Diagnostic chain Super Religare Laboratories (SRL) has bought out Piramal Healthcare’s diagnostic chain Piramal Diagnostics for Rs 600 crore, reports CNBC-TV18 quoting sources. The announcement is expected shortly. Sources close to the development say that Piramal will retain one board position in Malvinder Singh promoted SRL. The deal is valued at approximately three times sales. [...]
June 22, 2010 by | No Comments
The Yes Bank stock was under pressure Tuesday after Rabobank, one of its founding investors, sold 11% stake via block deals. Rabobank sold the stake in Yes Bank at Rs 267 a share, reports CNBC-TV18′s Nimesh Shah. CNBC-TV18 learns from reliable sources that a whole host of domestic and international investors have bought into this block [...]
June 22, 2010 by | No Comments
The shareholders of Bank of Rajasthan have approved the bank’s merger with ICICI Bank. The bank’s shareholders have passed a resolution with requisite majority under section 44A of the Reserve Bank of India (RBI) Act and will file the EGM resolution with the Bombay Stock Exchange, the National Stock Exchange and the bank. This comes [...]
June 9, 2010 by | No Comments
Reliance Industries plans to reopen about 750 closed retail fuel outlets, reports CNBC-TV18, quoting Dow Jones. Sources said RIL now owns 1,400 retail fuel outlets. It operates about 650 fuel retail outlets. India’s largest private sector refiner may also consider opening new fuel outlets. Sources said RIL is likely to study reopening these outlets if [...]
May 22, 2010 by | No Comments
The government on Friday asked the winners of the all-India third-generation (3G) spectrum bidding in the recently concluded auction to pay by May 31, failure of which would lead to deposit forfeit. The Department of Telecommunication’s (DoT’s) order requires state-run BSNL and MTNL to also pay by the deadline. The payment can be made via [...]
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