The new telecom policy-2011 is also expected to come out with new norms for mergers and acquisitions, enhancing rural coverage, and spectrum allocation, among other things.
But they missed a flurry of chances with the striking line-up of Manvir Singh, Ashique Kuruniyan and Liston Colaco showing little coordination upfront, underlining the lack of firepower in the absence of Roy Krishna and David Williams.
Power Finance Corporation Ltd filed its revised prospectus on Monday with market regulator Securities and Exchange Board of India to come out with its initial public offering.
The government intends to disinvest 5 per cent stake in PFC, while the company would issue fresh shares to the tune of 15 per cent through the follow-on public offer.
State-owned Power Finance Corporation on Tuesday announced its maiden public offer of 10 per cent fresh equity shares along with sale of five per cent government equity in the first quarter of next fiscal
The divestment commission, which is currently in the process of firming up its recommendations on divestment of Power Finance Corporation, has sought borrower-specific details from the power lending agency.
With the Power Ministry seeking Cabinet's nod for Power Finance Corporation's initial public offer, the state-run company has firmed up plans to conduct road hows for attracting investors toward the issue.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
Union Road Transport and Highways Minister Nitin Gadkari on Wednesday pitched for formulating a policy for using the Reserve Bank of India's rising foreign exchange reserves for funding road projects, saying the country needs low cost finance for such infrastructure projects. Addressing a virtual event organised by industry body CII, Gadkari further said that the National Highways Authority of India (NHAI) should also have a financial arm like the power ministry's Power Finance Corporation (PFC). "We have a surplus of dollar reserves in the country. I have decided to talk with the RBI Governor, about how we can formulate a policy by which we can use this foreign exchange reserves for development of infrastructure in the country," he said.
State-run lending agency Power Finance Corp may raise Rs 5,000 crore (Rs 50 billion) through a tax-free bond issue, a move that would result in lowering borrowing costs for the company.
After getting the approval of raising up to Rs 30,000 crore (Rs 300 billion) through issuance of tax-free bonds this financial year, infrastructure finance companies, Housing and Urban Development Corporation (HUDCO) and Power Finance Corporation (PFC), have thrown open their subscriptions under the private placement route.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
"Till September we have refinanced loans worth Rs 1,500 crore (Rs 15 billion). We will lend another Rs 3,500-4,000 crore (Rs 35-40 billion) to REC and PFC by the end of this fiscal," IIFCL Chief Executive Pradeep Kumar said.
State-owned Oil and Natural Gas Corporation has been ranked among the top 25 energy firms in the world.
Pune FC staged a comeback 2-1 victory over title chasers East Bengal in an I-League Round 22 encounter at the Balewadi Sports Complex, in Pune on Monday.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Budget focuses on boosting investments in infrastructure.
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
Known for stable returns, near debt-free status and dividend track record, these 10 PSU stocks are worth buying now.
The divergence shows lack of financial depth in the Indian stock markets.
A consulting firm has just released its annual ranking of the biggest oil and gas companies in the world.
Last year, the government had allowed NHAI, IRFC, Hudco, REC and PFC to issue tax-free bonds.
Four big transmission projects went under the hammer last month.
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a five-year-long reform-based result-linked power distribution scheme worth Rs 3.03 lakh crore, for strengthening system of utilities to improve efficiency. Briefing after the CCEA meet here, Power and New & Renewable Energy Minister R K Singh said, "We have done a lot for power distribution reforms. It needs to be strengthened. Today, the Cabinet has approved the new scheme worth Rs 3.03 lakh crore, including Rs 97,000 crore central outlay." He said the funds would be given to power distribution companies (discoms) to strengthen their system.
The MoUs are signed between the Central Public Sector Enterprises and the administrative ministries/departments.
A chunk of divestment till now has come from follow-on offerings in the Centre's two ETFs, Bharat-22 and CPSE. Now, there will be initial public offerings of Mazagon Docks, rail companies RVNL and IRFC and MSTC.
This is the second highest divestment proceeds in a financial year.
More than a dozen corporates, including big names such as Aditya Birla Group, M&M, L&T, as well as state-owned PFC, LIC and India Post, are likely to apply to the Reserve Bank for licence to open banks.
"Cabinet has so far given approval for the disinvestment of four state-run firms - PFC, SAIL, ONGC and HCL. We are in talks with various ministries and working on a roadmap that should be finalised by June-end," Department of Disinvestment additional secretary Siddharth Pradhan said.
Two ultra mega power projects are coming up at Sasan in Madhya Pradesh and Krishnapatnam in Andhra Pradesh.
On Tuesday, when the Power Finance Corporation (PFC) follow-on public offer (FPO) had opened for subscription, many investors would have been wondering if it was a good time to enter the stock.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The cut-off date the RBI chose was March 1, 2018. This meant that by the end of August if these accounts were not resolved, then they would have to proceed through insolvency.
Divestment in PFC, REC, NHPC, Nalco, Hindustan Copper and NMDC could be considered
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
A bonus is given to existing stockholders in proportion to the number of shares they already hold.
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