Government will ask Reliance Industries Ltd to relinquish 80 % of its east coast deepwater D6 gas block, including five discoveries, as the energy major has not adhered to timelines for developing the area, the oil secretary said.( ET )
Vodafone Plc said that it will bring in Rs 10,141 crore in order to increase its equity stake in Vodafone India to 100%, which would mean acquiring its two key Indian partners which include a Ajay Piramal controlled company, Analjit Singh of Max group and IDFC amongst others. Based on this deal the company will be valued at Rs 28, 469 crore.( BS )
JSW Steel is planning to raise around $600 million through external commercial borrowing (ECB) route, part of which will be mopped up in the current quarter, a top company official said.( ET )
The US government is likely to slap a fine of about $35 million (around Rs 219 crore) on Infosys, on charges of inappropriate use of visitor visa for business purposes.( BS )
TVS Motor Company is expecting that the company, on a standalone basis, would be debt free by next year. The company is also infusing a capex of Rs 200 crore this year for its new product launches, scaling up of three wheeler capacity and its joint venture with BMW.( BS )
Greaves Cotton is aiming for growth in its engine business and is rolling out new gensets for users like hotels, hospitals and shopping malls.( BS )
Rural Electrification Corp Ltd (REC) has invited bids to raise at least Rs 500 crore through an issue of five-year bonds.REC is expected to be followed by Power Finance Corp and other regular issuers after the RBI stuck to script with a widelyexpected 25 basis points repo rate hike and a similar cut in marginal standing facility rate.( BS )
The Department of Telecommunications (DoT) is likely to take a decision on on spectrum base price for the third round of auction next week. The auction is scheduled for January 8, 2014.( BS )
Vodafone Plc said that it will bring in Rs 10,141 crore in order to increase its equity stake in Vodafone India to 100%, which would mean acquiring its two key Indian partners which include a Ajay Piramal controlled company, Analjit Singh of Max group and IDFC amongst others. Based on this deal the company will be valued at Rs 28, 469 crore.( BS )
JSW Steel is planning to raise around $600 million through external commercial borrowing (ECB) route, part of which will be mopped up in the current quarter, a top company official said.( ET )
The US government is likely to slap a fine of about $35 million (around Rs 219 crore) on Infosys, on charges of inappropriate use of visitor visa for business purposes.( BS )
TVS Motor Company is expecting that the company, on a standalone basis, would be debt free by next year. The company is also infusing a capex of Rs 200 crore this year for its new product launches, scaling up of three wheeler capacity and its joint venture with BMW.( BS )
Greaves Cotton is aiming for growth in its engine business and is rolling out new gensets for users like hotels, hospitals and shopping malls.( BS )
Rural Electrification Corp Ltd (REC) has invited bids to raise at least Rs 500 crore through an issue of five-year bonds.REC is expected to be followed by Power Finance Corp and other regular issuers after the RBI stuck to script with a widelyexpected 25 basis points repo rate hike and a similar cut in marginal standing facility rate.( BS )
The Department of Telecommunications (DoT) is likely to take a decision on on spectrum base price for the third round of auction next week. The auction is scheduled for January 8, 2014.( BS )
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