Net profit of ABG Shipyard declined more than 32 percent to Rs 32.8 crore during the quarter ending September 30, 2012 from Rs 48.4 crore in the year-ago period. Net sales of the private sector shipbuilder also declined to Rs 543.6 crore during the reporting period from Rs 571.6 crore in the year-ago period.
Category: Infrastructure Finance
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Bank to raise corporate business
Bank of Maharashtra aims to increase the share of corporate sector in its overall business to 50 per cent this financial year from the current 42 per cent
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Earnings of banks came under pressure in FY12
Key earnings parameters of scheduled commercial banks (SCBs) came under pressure during 2011-12 because of slowdown in the
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Large funds must be attracted to bonds
A committee appointed by Reserve Bank of India (RBI) said called for encouraging large institutional investors such as pension funds, provident funds, insurance companies, etc. to invest in bonds floated by bank
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Govt sticks to revised fiscal deficit target
Economic Affairs Secretary Arvind Mayaram informed that the government would not overshoot its revised fiscal deficit target of 5.3 percent in 2012-13. Earlier, Finance Minister P Chidambaram said this year fiscal deficit will be 5.3 per cent, instead of the budget estimate of 5.1 percent.
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Govt to widen Chamarajanagar’s double road
The Karnataka government has prepared a proposal for widening of B Rachaiah Double Road in Chamarajanagar. Funds have been set aside to shift the water supply pipeline, light poles and UG cables as part of the widening work and clearing illegal compounds.
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AAI’s plea to Govt for Rs 3,000 cr bond issue
With an objective to finance modernisation of non-metro airports, State-run Airports Authority of India (AAI) on October 31 said that it will soon approach the Union Finance Ministry afresh with the proposal to raise funds through a Rs 3,000-crore infrastructure bonds.
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NMC refuses funds under JNNURM for buses
Maharashtra government may give the funds meant for procuring 60 new buses by the Nagpur Municipal Corporation (NMC) to some other municipal body
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Insurance and pension funds are best suited for infra investments
Since infra projects are long term projects, Infrastructure Debt Fund (IDF) can bring in the big push in the sector as innovative means of credit enhancement is expected to provide long term, low cost debt, says D. V Prasad, Head-Finance, Essar Projects, in an interaction with Sumantra Das.
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Investing in risk assessment
Over the last two months, HDFC Bank recruited heads for four verticals, including infrastructure finance, to grow its investment banking business. Recently, several banks have been hiring up infrastructure experts, and as innocuous as the news may seem, it reflects a longer term goal to get specialised. As with most other lessons in India's infrastructure sector, the solution is reactive, not innovative. So banks have a job on their hands, and don't they know it.