Union Shipping Minister GK Vasan informed Lok Sabha that some ports in the country received muted response for their tax-free bond issues mainly on account of weak market sentiments and low coupon rates. While Jawaharlal Nehru Port (JNPT) wanted to raise Rs 2,000 crore through issue of tax-free bonds, the actual subs
Tag: capital
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DIPP clears RBI proposal on FDI
In order to protect the interests of foreign investors, the department of industrial policy and promotion (DIPP) approved the proposal to route the foreign direct investment (FDI) in shares of Indian companies through an escrow account. The proposal was mooted by the Reserve Bank of India (RBI) as it found that some Indian companies, who receive FDI, failed to issue shares till the deadline of 180 days near
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Ahluwalia urges pvt sector to invest $500 bn in infra projects
With the government consolidating its fiscal position, Planning Commission Deputy Chairman Montek Singh Ahluwalia urged private sector to contribute no less than 50 per cent of the estimated investment in infrastructure in the 12th five year plan (2012-17). It may be noted that the government estimated $1 trillion investment in infrastructure during this period. Ahluwalia said there are zero prospects of the gove
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Global investors expect rupee to strengthen
Some international investors feel that the Indian rupee may appreciate against dollar in the coming months helped by the fall in domestic inflation and possible improvement in the current account deficit. Investment analysts expect current account deficit to improve on the back of benign commodity prices in the in
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FM hopes Indian economy would get back to 8% growth
Finance Minister P Chidambaram remarked that the Indian economy is poised for a potential growth rate of 8 per cent and the country has not fixed the limit to foreign investments. While attracting investors from Canada and the USA, he said the Indian economic downturn is a temporary phenomenon. Between 2004 and 2012, India had a growth rate of 8 per cent for six years and four
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SBI may plan to merge its associate banks with itself
Pratip Chaudhuri Chairman of State Bank of India (SBI) informed reporters that the capital condition of the bank is favourable for the merger of its associate banks with itself. Without giving a timeline for the merger, he said the bank is now open to merging its associate entities. The move will further enhance its already enormous balance shee
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IBEF may get upto $25 mn equity capital from IFC
India Business Excellence Fund IIA (IBEF IIA), which caters to the capital requirement of Small and Medium Enterprises (SMEs), may get upto $25 million funding from the International Finance Corporation (IFC). The proposed investment by IFC may boost further equity funding to capital constrained SMEs looking for growth capital
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SAIL to focus on upgrading captive mines
In order to meet the increase in iron ore requirement following the expansion of its steel plant, Steel Authority of India (SAIL) is in the process of upgrading its captive ore mines. The company plans to raise its iron ore production to 39 million tonne per annum in line with its mega expansion plan of producing over 23.6 million tonne per annu
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SAIL to focus on research and development
State-run Steel Authority of India (SAIL) plans to focus on research and development and technological upgradation in the areas of raw materials and product development in order to increase its efficiency. As part of this plan, the leading steel maker in the country decided to raise its R&D spending to 1 per cent of gross sales every year from the current level of arou
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SAIL’s special product output rises 4% in FY13
Steel Authority of India (SAIL) produced over 5 million tonne (mn t) of special steel products designed for specific end-use in 2012-13. This is a growth of 4 percent over the last fiscal. SAIL's Bokaro unit introduced ultra high strength hot rolled and cold rolled (CR) steel, for use in auto body components in