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Tuesday, May 22, 2007
RBI draft on NOF of NBFCs
CHENNAI: The Reserve Bank of India on Monday proposed in a draft circular that deposit-taking non-banking finance companies (NBFCs) should have a minimum net owned fund of Rs 2 crore and would be given two years to attain the floor. In case of ...
FDI policy review
NEW DELHI: The Central Government will review next month the Foreign Direct Investment policy to lay down norms for preventing companies from breaching the sectoral limits, Commerce and Industry Minister Kamal Nath said on Monday. ...
Vietnam okays Tatas' venture
NEW DELHI: The Vietnam Government has approved a joint venture between Tata Steel and Vietnam Steel Corporation to build an integrated steel complex in the country at an investment of $3.5 billion. . ...
M&M open offers
MUMBAI: Mahindra & Mahindra on Monday announced a new schedule for its open offers to buy 20 per cent stake each in Punjab Tractors and Swaraj Engines. The offers would now open on May 28 and close for subscription on June ...
Karnataka IT strategy pays off
BANGALORE: The Karnataka Government's strategy to extend the information technology industry to Tier-1 and Tier-2 towns is beginning to pay off, Secretary for Information and Biotechnnology M. N. Vidyashankar said here on Monday. Speaking to ...
New deposit scheme from Karnataka Bank
MANGALORE: : Karnataka Bank has introduced a new deposit scheme `KBL-400' with a higher interest rate offer with effect from May 21. The scheme, valid for a limited period, carries 10 per cent interest rate for deposits of 400 days while senior ...
InBev enters Indian beer market
CHENNAI: : InBev has picked up 49 per cent stake in a joint venture with RJ Corp which is the majority stakeholder with 51 per cent. InBev is the largest beer manufacturer in the world while RJ Corp is the largest beverage manufacturer in India. ...
SBICAP to execute power project mandate
CHENNAI: SBI Capital Markets (SBICAP), the investment banking arm of the State Bank of India, has been appointed as financial advisor by the Botswana Power Corporation (BPC) for setting up coal-based power generation plants. SBICAP would advise ...
Redington India recommends 25 p.c. dividend
CHENNAI: Redington India has recommended 25 per cent dividend on the paid up capital for the financial year ended March 31, 2007. The company has achieved a net profit of Rs. 42.42 crore on net sales of Rs. 4,712.56 crore. The earnings per share ...
Nava Bharat Ventures pays 200 p.c. dividend
HYDERABAD: : The board of directors of Nava Bharat Ventures has recommended a dividend of 200 per cent on the equity shares of Rs. 2 each for the year ended March 31, 2007. Total income was Rs. 603.58 crore in 2006-07 against Rs. 475.76 crore in ...
City Union Bank pays 40 p.c.
CHENNAI: City Union Bank has recommended a dividend of 40 per cent for 2006-07. According to a release, the bank has achieved a profit after tax of Rs. 71.81 crore against Rs. 56.37 crore in 2005-06. Total income has risen to Rs. 454.13 crore ...
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