Lenders led by ICICI Bank have decided to initiate a strategic debt restructuring (SDR) exercise at Gammon India, which will give them a 51 per cent stake in the construction and engineering company.
Category: ECONOMY & POLICY
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Govt plans to put 98% sectors for FDI
Government is planning to put 98 per cent of sectors, which are open to foreign investments, under the automatic route so that businessmen won´t need to visit the Finance Ministry or ´Udyog Bhavan´ for any approval, a top official said.
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AP looks to knock Gujarat off its perch
Seeking to oust Gujarat from the numero uno position in coastal traffic, the Andhra Pradesh Government is readying an ambitious plan for integrated port development.
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KITCO bids to prepare DPR for bypass project
KITCO, a technical consultancy organisation established by various commercial banks and the Small Industries Development Bank of India (SIDBI), is the lone bidder that has evinced interest in preparing a detailed project report (DPR) to convert the Kozhikode Bypass into a four-lane carriage way.
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Gurgaon identifies 16 dumping sites
The Municipal Corporation of Gurgaon (MCG) has identified 16 sites to dump construction and demolition waste in an attempt to check the rising pollution levels in the city. The dumping areas have been divided into four zones.
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Spectrum auction unlikely this fiscal
Spectrum auction is unlikely to be held this fiscal due to delay in recommendations over pricing from the regulator Trai, official sources said. The government had pegged revenue from communication services, that include upfront realisation from spectrum sale and licence fee, at Rs.42,865.62 crore for the current fiscal.
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Call drops worsen during July-Sep quarter: Trai
Telecom operators have failed to curb the incidence of call drops in the country. The quarterly data issued by the Telecom Regulatory Authority of India (Trai) shows that while the incidences of call drops for 2G services marginally worsened, for 3G services it increased from a figure of no location to 3.23 per cent of the total locations surveyed.
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Greening infrastructure for healthier cities
Recent discussions in media and academia on the status of the Green Belt around Bangalore, in the revised Master Plan for 2031, indicate that better options for keeping adequate green components in urban systems are needed.
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Govt eases VGF norms for grid-connected solar projects
The government has decided to ease norms for releasing viability gap funding (VGF) under a scheme for setting up 1,000-MW grid-connected solar projects by central PSUs and other government organisations.
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Cairn India Limited results for Q2FY16 ended 30th Sep, 2015
Net revenue for Q2FY16 was reported at Rs.2,242 crore, which declined 15 per cent QoQ mainly due to fall in crude prices and increase in discount to Brent for Rajasthan crude. Average Brent prices fell 18 per cent QoQ to $50.5 per barrel driving our average oil realization down by 22 per cent QoQ to $43.7/bbl.