The debt-to-equity ratio of Reliance Capital would decline to 0.5 from 1.7 if the company manages to get banking license from Reserve Bank of India (RBI). It may be recalled that the central bank invited application for new bank licenses from corporates, non banking finance companies and other entities earlier. Follo
Author: admin (Infratructure Today)
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SBH chief rules out merger with SBI at present
M Bhagavantha Rao, Managing Director of State Bank of Hyderabad (SBH) ruled out the possibility of merger of the bank with State Bank of India (SBI) at the moment considering the bifurcation of Andhra Pradesh. It may be recalled that a separate state of Telangana has been carved out from Andhra Pradesh recently and the ensuing political situation is not cond
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SREI to acquire road, power projects
Media reports indicate that SREI Infrastructure Finance may spruce up its portfolio of road and power projects through acquisition. It is learnt that the firm is eyeing road and power projects, the promoters of which have already undergone a credit restructuring or they are ready
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Exporters take advantage of rise in price, rupee weakness
Mining firms are exporting iron ore in a big way on the back of increase in the price of the commodity in the global market and depreciation of rupee. Many miners are exporting iron ore fines and pellets to China as the price of the commodity rose considerably in recent days. Sources indicate that the prices of pellets rose from Rs 6,200 per tonne a month ago to Rs 6,700 per t
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Banks may lend Rs 60 bn more to Essar Steel
In order to prevent Essar Steel from approaching
the corporate debt restructuring (CDR) cell, lenders to the company provided an further loan of Rs 6,000 crore. The company borrowed this amount at an interest rate of 12.50 percent. The Ruia-group firm would use around Rs 2,000-2,500 crore of the Rs 6,000 crore to repay group com
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House panel wants govt to discourage ore export
Government must gradually reduce iron ore exports to ensure that adequate quantity of this mineral is available for domestic requirement, a Parliamentary standing committee said. In its report, the Parliamentary Standing Committee on Coal and Steel suggested raising the export duty on iron ore beyond the existing 30 per cent. The report was table
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Gulf Cooperation Council members to face gas crunch
A recent report called, 'Gas shortage in the GCC - How to Bridge the Gap', by global consultancy firm, Booz & Company, says gas shortage in the six resource-rich Gulf Cooperation Council (GCC) countries will become more evident 2015 as demand is on the rise and supply struggles to keep pace. Increasing power consumption, depleting oil fields, gas exploration and long-term gas export commitments have limited the local supply of gas in the region, the report says.
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Cabinet to discuss shale oil and gas exploration policy
A top official of the Union Ministry of Petroleum & Natural Gas has stated that the ministry has finalised a shale oil and gas exploration policy, which will be tabled before the cabinet soon after the oil minister Marpadi Veerappa Moily approves it. However, in contrast to the Oil Ministry's statement, the Ministry of Environment and Forest said that exploitation of shale resources could lead to water crisis in India.
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OMCs see little gain from RBIs dollar window
The public sector oil marketing companies (OMCs) have said that they do not look for any direct gains from the Reserve Bank of India's foreign exchange swap window. Such window was announced by RBI on August 28. The RBI announced the window to meet their daily dollar requirements to import crude oil. But the oil companies agreed the apex bank's measure would bring down rupee's volatility.
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Nod to Reliance, its partners to invest $4 bn in D-6 block
The Union government has on August 29 gave its approval to Reliance Industries and its partners to invest $4 billion in the R-Series gas-field of KG-D6 block. BP Plc and Niko Resources are the Reliance Industries partners. R-series is a cluster of four discoveries in the block, of which, D-34 has been declared commercially viable.