IDBI Bank stake sale may not be completed by March
November 17th, 2023 07:27
Department of Investment and Public Asset Monetisation (DIPAM) secretary Tuhin Kanta Pandey said the transaction is “on course” but there are aspects like the RBI’s fit and proper criteria which need to be complied with. “We practically don’t think that before March, we can conclude it (IDBI Bank stake sale),” Pandey told reporters on the sidelines of a Ficci event.
Investments and festive boost to lift Q3 GDP: RBI
November 17th, 2023 07:27
India’s gross domestic product (GDP) expanded 7.8% in the first quarter of FY24, through which the RBI expects the economy to grow 6.5%. An ET poll of economists has pegged the second-quarter growth rate at 6.7%. Several global economic think-tanks expect India to be the growth driver through this year and the next although global trade remains rather shaky, posing expansion challenges for several competing high-growth economies.
Legal proceedings against Sahara Group to go on: Sebi chairperson
November 17th, 2023 07:27
Sebi is yet to recover Rs 62,000 crore from the Sahara Group. As on March 31, 2023, Sebi has received 19,650 applications involving 53,687 accounts. Refunds have been made with respect to 17,526 applications involving 48,326 accounts for an aggregate amount of Rs 138.07 crore.
GMR Goa Int'l Airport issues NCDs to raise over Rs 2,400 cr
November 17th, 2023 07:27
ICICI Bank was the arranger for the issue. The funds will be used to primarily refinance existing debt raised earlier to build the greenfield airport in the northern tip of the small state that has the highest per capita income in the country and traffic volumes that far exceed the permanent population base.
Cement companies poised for stronger show in H2
November 17th, 2023 07:27
The improved profitability in the September quarter, along with the expected improvement in the December and March quarters is expected to lift the average operating profit per tonne of cement makers to ₹970 per tonne in FY24 compared with ₹745 per tonne a year ago, Axis Securities said in a note.
Next Sebi board meet to discuss delisting tweaks
November 17th, 2023 07:27
"There was a popular belief that we would never review the delisting regulations and that we would stay with the reverse book-building process," said Buch while addressing a conference organised by Ficci on Thursday. "A consultation paper is already floated and Sebi has received a lot of feedback. At the next board meeting, we are taking that proposal to our board."
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