Browsing Category
Money Speak
ONGC Petro Additions may raise Rs492 crore through CCDs
Mumbai: ONGC Petro Additions Ltd (OPAL) plans to raise Rs492 crore from Tata Mutual Fund and SBI Fund Management Pvt. Ltd through the sale of compulsorily convertible debentures (CCDs), two people aware of the development said. Tata Mutual…
Banks recover a pitiful proportion of massive amounts of bad loans they have written off
Between April 2014 and December 2017, public sector banks recovered a pitiful 10.7% of the massive Rs2.7 trillion worth of loans they wrote off during the period, shows a reply to a question in the Rajya Sabha. Written off loans are…
RBI keeps repo rate unchanged at 6%, cuts inflation forecast
Mumbai: The Reserve Bank of India (RBI) kept its policy rates on hold for the fourth straight meeting on Thursday and retained its “neutral” stance even as inflationary pressures have eased more than expected. The RBI kept its policy repo…
Insolvency may suspend many rights but not the minority’s right to disclosures
The lot of minority shareholders of companies undergoing insolvency proceedings is a sorry one. The popular narrative might be one where the promoters (who are also the management) have mismanaged affairs or worse. In reality, since the…
Cognizant tax dispute: ‘Operations remain unaffected’ by tax dispute, says CFO Karen…
Cognizant will deposit $75 million (Rs 420 crore), representing 15 percent of the disputed tax, to be kept in a suspense account by the ITD (Income Tax Department), with the remainder marked under lien, said the company in a press release.…
LIC trims stake in Sterlite Technologies by 2%
New Delhi: State-owned Life Insurance Corporation (LIC) has reduced its stake in telecom products manufacturer Sterlite Technologies by 2% after selling 80.28 lakh shares in the open market. As per a BSE filing, LIC, which had 5.30% stake…
Government rules out any change in National Pension System; all details
There is no proposal to replace the National Pension System (NPS) with the old pension scheme, the Lok Sabha was informed today. The NPS gives the utmost importance to the welfare of subscribers, Minister of State for Personnel Jitendra…
India Inc raises all-time high of Rs 1.8 lakh cr via equity market
FY18 turned out to be a bumper year for Indian primary markets with all-time high equity raising of Rs 1.77 lakh crore led by initial public offers (Rs 84,357 crore including SME IPOs) and qualified institutional placements (Rs 62,358…
Will Air India sale fetch government anything meaningful?
The Air India sale has been code-named Project Royal, although the plain truth is that the national airline isn’t the king of Indian aviation. The company has run losses for years and is laden with debt. Even so, like its affable mascot…
The threat to GST revenue from transitional credit claims
The trend of revenue inflows under the goods and services tax (GST) regime remains unimpressive and erratic. Data shows revenue collection for the month of February stood at Rs85,174 crore, a marginal dip from the previous month (see…