According to two independent sources in the know, GVK's lead underwriter, ICICI Bank, plans to reduce its exposure in the highly leveraged transaction. Following the move, the other PSU lenders have told GVK they, too, would like to proportionately bring down exposure.
Prompted by the Reserve Bank of India's increase in the key rate, the repo, banks have raised interest rates by 325-350 basis points.
Equity dividend payment rises 14.9 per cent in 2010-11.
Net sales rose 26 per cent but profit rose at a slower 22.7 per cent, as operating margins took a hit by 160 basis points, year on year.
Fair valuation of minority stake in joint venture at core of dispute; different worth of shares in two Essar entities a thorny issue.
Ruias to challenge Vodafone's put option, continue reverse-listing plan.
Last week, Essar had decided to prepay $900 million of this debt to foreign lenders.
Bigger telecom companies are likely to get a bigger share of the 3G subscribers as they own high average revenue per user customers, who are more likely to sample premium services like 3G.
A preview of the December quarter's company results by three foreign and three Indian broking houses hints at relatively moderate performance. Of the 47 companies that are part of the BSE Sensex & S&P-CNX Nifty, the benchmark indices, the expected net profit growth is 22 per cent.
India Inc is set to mobilise over Rs 1,40,000 crore through public issues in the new year. The collections were Rs 1,05,647 crore in calendar year 2010.
Gold futures for February delivery closed at in the red on weekly basis after reaching a record $1,432.50 an ounce on December 7. This week, the gold dropped 1.51 per cent or $21.30, the most since mid-November on concern that China may tighten monetary policy eroded demand for precious metals.
The performance of subsidiaries abroad played a stellar role in India Inc's performance for the second quarter ended September. The consolidated results of companies that take into account the results of both foreign and domestic subsidiaries showed their net sales grew 22.2 per cent, while net profit grew a robust 70.4 per cent.
Order inflows during the quarter-ended September declined 31.5 per cent compared to the level a year ago. Companies are still not committing fresh capital expansion.
One tenth mobile subscribers in India own multiple mobile phone connections, says a report.
Conditions attached by RBI ensure it won't take off, contend experts.
Piramal Healthcare acquired 4.36 million shares from the open markets through its two promoter companies, PHL Holding Pvt Ltd and Swastik Safe Deposit & Investment.
The rupee's appreciation of 6.4 per cent against the dollar and 12 per cent against the euro is likely to hurt the first-quarter performance of the pharmaceutical sector, indicate a results' preview by broking houses.
The construction of this hotel has been deferred by four years.
G V Krishna Reddy, Chairman, talks to Business Standard about his plans.
Capex plans for the next six months imply a 20 per cent increase in calendar 2010.
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