India's largest public sector lender State Bank of India (SBI) reduced its base rate to 9.70 per cent from 9.75 per cent with effect from February 4. But the bank kept its deposit rates unchanged as it feels
Author: admin (Infratructure Today)
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Merchant bankers await earnings results of SAIL
Agency reports indicate that the merchant bankers appointed for disinvestment in Steel Authority of India (SAIL) would get a clear idea on the financial health of the firm after it announces its December 2012 quarter results in a few days. The government selected merchant bankers for SAIL share sale, including SBI Caps, Kotak Mahindra and Deut
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Majority of JSW Steel shareholders clear merger plan
In a communication to stock exchange, JSW Steel said it received approval from 99.99 per cent of shareholders in a recent meeting for merging JSW Ispat Steel with the company. Following this, the company awaits the approval of the Bombay High Court to complete the merger process
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Odisha CM unveils bus terminus at Keonjhar
The Rs 7 crore bus terminus built by Tata Steel at Keonjhar in Odisha was recently inaugurated by the state Chief Minister Naveen Patnaik. The state-of-the-art bus terminus was constructed over an area of 2.7 acre and is designed to accommodate 24 buses inside the bay and has provision for parking of four to six buses
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Bhushan Steel to review product prices
Nitin Johari, Director of Bhushan Steel informed reporters that the marketing team of his firm would meet soon to review price of its steel products. According to media reports, other steel firms may also revise the price of their steel products, especially long products, sold in the domestic market. Prices of some are likely
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Govt set to award Maharatna status to BHEL, GAIL
The high-level secretaries' panel headed by Cabinet Secretary Ajit Kumar Seth approved the proposal to award BHEL and GAIL the coveted Maharatna status. The status would give these public sector units greater financial autonomy. Agency reports indicate that the central government would issue formal orders to this e
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Minister wants ports to allot 10% of income for CSR
Port trusts across the country are asked to allocate 10 percent of their income for Corporate Social Responsibility (CSR) activities by Union Shipping Minister GK Vasan. The ministry launched CSR activities recently to enable ports to serve the interests of society and identify activities that would create social impact, Vasan said
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Nizampatnam Port project found to be unsuitable
Chinta Visweswara Rao, Chairman of Navayuga Engineering Company (NEC) informed that the proposed Nizampatnam Port project in Andhra Pradesh is not suitable for development as the land earmarked by the government falls within a reserve forest and green belt areas. He informed this to the Central Bureau of Inves
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NMDC board to review iron ore price
Soon the board of NMDC would meet to review the price of iron ore it sells in the domestic market in line with the policy of the company to revise it every month. Media reports suggest that the state-run miner could raise the price between Rs 200 and Rs 400 a tonne. The board would take into consideration factors such as dema
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Slowdown or consolidation?
After every available rating and analyst firm from Nomura to Dun & Bradstreet and India Ratings expressed a negative outlook on IndiaĆās infrastructure, the inevitable, unpleasant moment arrived when the advance estimates, officially announced early this month, stated that the nation can only achieve 5 per cent growth the current fiscal, the lowest in a decade, and 0.7 per cent lower than anticipated earlier.