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November 25, 2010 by | No Comments
The assigned grading reflects MOIL’s dominant position in the Indian manganese ore industry with over four decades of experience in manganese mining and its significant reserves of measured mineral resources of manganese ore CARE assigns ‘CARE IPO GRADE 5’ grading to the IPO of MOIL Limited. The assigned grading reflects MOIL’s dominant position in the [...]
November 25, 2010 by | No Comments
Market regulator Securities and Exchange Board of India is mulling reducing the time line for investors to apply for an Initial Public Offering process through the ASBA model, SEBI chairman CB Bhave said today. Applications Supported by Blocked Accounts (ASBA) is a new system that allows investors to apply for an IPO, keeping the application [...]
November 25, 2010 by | No Comments
The initial public offering (IPO) of MOIL (formerly Manganese Ore India) will open for subscription on November 26. Emkay Global Financial Services has recommended subscribing the issue, in its research report November 24, 2010. MOIL offers 336 lakh equity shares through IPO, which is an offer for sale for cash by The President of India, [...]
November 22, 2010 by | No Comments
Software services provider Zensar Technologies on Monday signed a definitive agreement to acquire US-based PSI Holdings Inc’s unit Akibia for USD 66 million in cash in bid to increase its on-site presence. Massachusetts-based Akibia provides IT services to companies worldwide to help them optimise, manage and support their infrastructure and has more than 900 customers. [...]
November 22, 2010 by | No Comments
Rating agency CRISIL on Monday put 12 microfinance institutions on rating watch with negative implications, saying recent events can damage the business models of these firms. Andhra Pradesh, the hub of India’s microfinance sector, recently enacted rules against aggressive recovery practices by lenders who make loans that average about USD 150 to poor customers at [...]
November 22, 2010 by | No Comments
The government has decided to implement the Nutrient Based Subsidy (NBS) scheme at reduced rates from the next fiscal year. The scheme will see the government reducing subsidy rates by 15-18%. The move is expected to hit complex fertiliser makers, while producers of urea are unlikely to be impacted. NBS for nitrogen is also likely [...]
November 19, 2010 by | No Comments
A government panel will decide on raising the cap on foreign direct investments in multi-brand retail sector in two months, junior trade minister Jyotiraditya Scindia said on Friday. India does not allow FDI in multi-brand retail as it has faced severe political opposition in the country due to concerns over job losses to small traders. [...]
November 19, 2010 by | No Comments
The Orissa government will form a committee to examine issues related to lending by microfinance companies to poor borrowers, a senior government official said on Friday. “We are receiving complaints that some microfinance institutions are charging 30% to 40% interest,” said R.K. Mishra, director of institutional finance in the Orissa government. “Some are even charging [...]
November 19, 2010 by | No Comments
As a result of the apparent fallout of A Raja’s ouster, Telecom Regulatory Authority of India or TRAI has tightened the noose around the Department of Telecom (DoT). Apart from issuing guidelines to DoT, the telecom regulator has also decided to check the credentials of the 2G roll out of operators like Idea Cellular and [...]
September 17, 2010 by | No Comments
Bharti Airtel and IBM have joined forces to transform the emerging African mobile communications market and fuel economic development across the continent. The 10-year agreement in principle will extend innovative relationship that began in 2004. IBM will handle IT for Bharti Airtel’s 16 operations in Africa. This is a first of its kind transaction in [...]
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