Forex kitty up $755 m on big NRI, FDI flows
THE country's foreign exchange reserves have crossed $65 billion, bolstering an already comfortable looking external sector. The reserves surged by $755 million during the week ended November 8 to touch $65.376 billion. Over the past 11 ...
Nedungadi shareholders not to get PNB shares
SHAREHOLDERS of Nedungadi Bank Ltd (NBL) will not be allotted shares of Punjab National Bank (PNB) after the amalgamation of NBL with PNB. The Reserve Bank of India today officially stated that "the draft scheme of amalgamation of the two banks ...
Mysore Brew to make offer for Rochees shares
MYSORE Breweries Ltd, subsidiary of SABMiller India, will come out with an open offer for Rochees Breweries Ltd's 25.18 per cent shares. MBL has come out with a price of Rs 11.75 per share and the total consideration of the buyback will be of ...
Adani inks deal for rail line project
THE Indian Railways' first design-build-finance-operate (DBFO) project with private participation came into being on Saturday when it signed a revenue-sharing agreement (with Gujarat Adani Port Ltd (GAPL) a joint venture between the ...
No `big deal' in FII forward cover
WHILE foreign institutional investors (FIIs) may not immediately rush to buy forward forex cover for their investments in Indian equities, they are glad to have the freedom to do so. FIIs until now were allowed to hedge only up to 15 per cent ...
HP, Digital engg services units may be merged
THE Software Engineering Services division of Hewlett-Packard's India Software Operations (HP-ISO) is likely to be merged with Digital GlobalSoft's engineering services unit. This follows the merger of Compaq and HP worldwide early this year. ...
No benefits under India-Mauritius tax pact Jumbo gets DEA approval to buy out Shaw Wallace
THE Department of Economic Affairs (DEA) has given its in-principle clearance to Jumbo World Holdings Ltd's (JWHL) proposal to acquire the entire 60.93 per cent equity in Shaw Wallace & Company (SWC) which is currently held by Indian ...
Rs 2,000-cr drought relief package
THE Centre today approved a Rs 2,000-crore relief package for drought-affected States under the National Calamity Contingency Fund (NCCF), apart from allocation of five lakh tonnes (l.t) of additional foodgrains to Rajasthan and one lakh tonne to ...
Bulk deposits aren't the in-thing now
BULK deposits (amounts above Rs 1 crore) procured by banks were once hot property. Banks used to pay anything from 0.25 to 0.50 per cent more than normal rates for such high value deposits till recently. For deposits above Rs 5 crore, the ...
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