City Union Bank (CUB) on July 29 said it plans to raise about Rs 350 crore from share sale to institutional investors. The board has resolved to seek the approval of the shareholders of the bank to augment capital up to Rs 350 crore, inclusive of premium through a process of Qualified Institutional Placement (QIP), the private bank said in a filing to the BSE. The decision is subject to the applicable laws and regulations including the guidelines issued by RBI and market regulator SEBI by passin
Author: admin (Infratructure Today)
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Canara Bank seeks Rs 1,000 cr for overseas expansion
Canara Bank has sought Rs 1,000 crore infusion from the government to fund its overseas expansion. The bank has approached the Union government for the capital infusion," Canara Bank Chairman and Managing Director RK Dubey said in Delhi on July 29. Although the bank don't require funds for domestic credit expansion this fiscal, capital would be needed for overseas expansion, he said.
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Indian Oil issues $500 mn worth 10-year bonds
Indian Oil Corporation on July 29 said that it has issued $500 million worth bonds for a tenor of 10 years. This is the public sector firmĆās fourth international bond issue in the past three-and-a-half years. Last month, the Federal Open Market Committee indicated that US Fed would moderate the asset purchase based on improvement in the US economy. These indications were not taken favourably and markets went into sell off mode.
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Potential of Thoothukudi as Industrial hub
As the Tamil Nadu government targeting the southern parts of the state for industrial development, Thoothukudi on July 27 launched a two-day roadshow to woo investors in Chennai. Former president of The All India Chamber of Commerce and Industries T Vel Shankar said the idea was to make Thoothkudi the investment hub.
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ICRA report points to decline in mkt share of major ports
A report by ratings agency ICRA shows the market share of non-major ports rose to 42 per cent in 2012-13 from 39 percent in the previous year because of their efficient operation. Thus, in 2012-13, market share of major ports declined to 58 per cent of the total throughput, compared to 61
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Port projects face implementation hurdles
Owing to factors hurdles in land acquisition, environmental and other statutory clearances and financial closure, several projects in major and non-major ports are held up. According to a study conducted by Icra, there are about 30-40 greenfield non-major ports that have high promise and potential but low implementation. These proje
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Punjab’s Patiala-Bhadson road to be widened to 33 ft
Patiala-Bhadson road in Punjab will be widened up to 33 feet. The State government has decided in this regard and the widening of the road work on this would commence in November next. Public Works Department Minister, Sharanjit Singh Dhillon, said the State government has given approval for the widening of this 4 kilometre stretch from its present 18 feet to 33 feet.
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Govt to set up separate grid for solar, wind projects
Planning Commission member BK Chaturvedi has said that the Union government would set up a green corridor to generate power from solar and wind capacities that were established at a cost of Rs 50,000 crore, Planning Commission member BK Chaturvedi. The National Action Plan on Climate Change has recommended that India generate 10 per cent of its power needs from solar, wind, hydropower and other renewable sources by 2015, and an additional 5 per cent by 2020.
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Panel submits report on linkage policy to Odisha govt
An inter-ministerial committee set up by the Odisha government submitted its report on the long-term linkage policy for supply of ore to local industries. The state government would examine the report and may take action to boost supply of raw material to local industries. The submission of the report prompted Vedanta Aluminium (VAL) to be optimistic about securing bauxite ore from
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Policy stimulus to real estate sector to continue: Minister
Union Minister for Housing & Urban Poverty Alleviation Girija Vyas has stated that the government will continue to play a pioneering role in providing policy stimulus to real estate sector. She was delivering her key note address on the theme of 'Reality Favours the Brave ĆāSurviving Against All Odds' at the 13th National Convention of of Confederation of Real Estate DevelopersĆā Associations of India (CREDAI) at Moscow on July 27. She exhorted the realty sector to come forward to supplement the G