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.
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.
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.
This is the second highest divestment proceeds in a financial year.
Divestment in PFC, REC, NHPC, Nalco, Hindustan Copper and NMDC could be considered
Spaniard Juande Ramos was sacked as CSKA Moscow coach on Monday following Sunday's 3-1 defeat by Russian Premier League rivals FK Moscow, the club said.
A bonus is given to existing stockholders in proportion to the number of shares they already hold.
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.
As part of its infrastructure development, the state may ask the Japanese government to develop infrastructure with a view to utilise Japan's public funds.
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 dollar bond market has been a favourite for Indian firms in 2014.
With disinvestment on hold, the power ministry now seeks approval for initial public offers of power companies.
Sasan Power Ltd, the special purpose vehicle floated by Power Finance Corporation for the 4,000 MW project, will on Wednesday issue the Letter of Intent to Reliance Power Ltd.
The recommendation from E&Y has been made even as its own role in clearing the original bid has come in for censure.
The equity capital market volume has jumped up in this year due to the large sized issuance as only 100 deals have been made in the period as against 147 worth $10.4 billion in 2006 in the corresponding period.
ManchesterCity's Ivorian midfielder Yaya Toure said he was the victim of racist abuse from the stands during his side's 2-1 Champions League victory away at CSKA Moscow on Wednesday.
Half a dozen stocks from the large-cap universe and over two dozen from the mid-cap universe have been replaced.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
Moody's has revised to positive the outlook on the long- term ratings of private sector lenders
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A host of companies have been lined up by the disinvestment department as candidates for stake sale.
While divestment through IPOs saw an over 90 per cent drop as compared to the previous financial year, the exchange traded fund (ETF) route proved to be a shot in the arm for the government, reports Sundar Sethuraman.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Other companies which are on the block include NMDC, NALCO and IOC.
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The interest on foreign currency non-resident accounts has been liberalised to attract more deposits.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
When big offers hit the market, broader indices corrected 2-4%
Initially it will procure only e-rickshaws and e-autos for leasing to operators
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
Budget in the medium term aims to kick-start the investment cycle.
An announcement has barred the entry of journalists in the finance ministry.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The government is selling over 41.22 crore shares or 5 per cent stake in NTPC.
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India's CAD -- the gap between inflow and outgo of foreign exchange -- widened to a record high of $88 billion or 4.8 per cent of the gross domestic product for the fiscal ended March 31, from $78.2 billion in 2011-2012, about 4.2 per cent of the Gross Domestic Product.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
