Govt may clear NTPC, IndianOil selloff today
Posted on 13th May 2015 |
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| NEW DELHI: The government is expected to provide a thrust to its ambitious disinvestment programme for the current financial year by clearing stake sale in over half-a-dozen companies including NTPC and IndianOil. The cabinet committee on economic affairs (CCEA) is expected to take a call on stake sale in these two companies on Wednesday. Sources said the government is looking to sell 5% in NTPC and 10% in IndianOil, which could help mop up around Rs 14,000 crore based on current market price. Coal India too is back on the disinvestment radar although it is not clear if the 5% stake sale is on the agenda for Wednesday's meeting of CCEA. The finance ministry was pushing to sale of stake in IndianOil during the last financial year but had to drop the plan at the last moment as there was no clarity on the subsidy-sharing mechanism. Besides, the petroleum ministry had argued that the fall in crude prices would have adversely impacted valuations. IndianOil had been taken up as an alternative to selling stake in ONGC, which was on the original list. With oil prices beginning to rise and more clarity on subsidy sharing, the government has revived the IndianOil stake sale. Sources said the government has already put in place a list and the proposal before CCEA on Wednesday is part of the plan. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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