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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 [...]
May 17, 2010 by | No Comments
Renuka Sugars may pay Rs 1,000-1,100 crore for Equipav versus Rs 1,530 crore earlier, reports CNBC-TV18, quoting sources. The deal could be called off if Equipav does not agree. On February 21, the Karnataka-based sugar firm agreed to buy 51% in Equipav for USD 329 million. It nudged out Hong Kong’s Noble Group in the [...]
May 17, 2010 by | No Comments
Wind-power company, Suzlon has restructured its foreign currency convertible bonds, sources told CNBC-TV18′s Pankaj Poddar. The conversion price is between Rs 95 and Rs 100 per share. CNBC-TV18 learns that the covenants have been relaxed for the entire tenure. Suzlon will pay 1% fees to bondholders for the waiver. Sources said the new price is [...]
May 16, 2010 by | No Comments
Crude oil prices may soon rise to $100 a barrel due to increasing costs of exploration and production, and businesses should be prepared for higher energy prices than what they were used to in the last 20 years, Reliance Industries chairman Mukesh Ambani said on Friday. In Asia, crude oil prices have fallen below $74 [...]
May 14, 2010 by | No Comments
Coal India’s initial public offer (IPO) is likely to hit the market in August. Merchant bankers have estimated the entire valuation of the IPO at USD 30-50 billion. Partha Bhattacharya, Chairman, Coal India says that it will be the largest government IPO till date. Six investment banks have been short-listed for the IPO. The banks [...]
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