Appearing on national television to mark the silver jubilee of the party he founded in 1997 after breaking away from the Janata Dal, Prasad, who is suffering from many ailments and convalescing at his MP daughter Misa Bharti's residence in New Delhi, recalled his struggles for OBC quota and the fight for the rights of the weaker sections.
Brokerages are expanding the universe of stocks they cover amid a boom in the market. Several stocks in the mid-cap universe are now tracked by more analysts than they were a year ago. For instance, SBI Cards and Payment Services is now tracked by 17 brokerages, compared to just four a year ago.
Minister of state for petroleum and natural gas Jitin Prasada in a written reply to a question in the Lok Sabha said that IOC and MRPL have been allocated 0.20 million tonnes each in 2009-10, while HPCL would offtake 0.30 million tonnes of Rajasthan crude. In 2010-11, IOC would buy 1.5 million tonnes of the crude oil from the nation's most prolific oil discovery in more than two decades, while MRPL would double its offtake to 0.40 million tonnes.
The defence ministry employees have been given an option of donating one-day salary every month for the next one year and this would be done voluntarily.
Sources said the company was likely to be incorporated with the four government companies holding equity in proportion to their profits, implying that the bigger the profit size, the larger their holding. The combined holding is likely to be in the range of Rs 325 crore (Rs 3.25 billion).
On the Sensex chart, IndusInd Bank was the top gainer, rallying over 11 per cent, followed by ICICI Bank, SBI, HDFC, M&M and Axis Bank. On the other hand, Dr Reddy's, Tech Mahindra and TCS were among the laggards.
As per norms these companies should have minimum public float of 10 per cent by August.
The government is looking at divesting a small portion of equity in profit making public sector enterprises other than the 'Navratnas', Finance Minister P Chidambaram said on Wednesday.
The law was amended to bring parity between public and private sector employees (including PSUs) after the gratuity limit was raised for central government on similar lines
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
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For India to invoke "sovereign" or "state" immunity to safeguard its foreign assets, which are under threat of getting seized in the intensifying legal battle with Cairn Energy, may come with several riders. Experts point out that the Indian government has to first satisfy the French court that the properties or assets that are under consideration are being used to dispense the state's sovereign functions.
'The target for next year is unlikely to be more than that of this year. The more you divest in any cycle, the less your potential pipeline for the next,' said an official. 'The first two issues we want to tackle and complete in FY20 are Air India and Hotel Ashok.'
At present, the annual cost-to-company of an entry-level officer in an oil-marketing company stands at Rs 6,30,000 per annum, including the annual performance bonus and various allowances, perks and retirement benefit that these officers are entitled to.
All central government employees were on Wednesday asked to immediately download the 'Aarogya Setu' mobile application and to come to office when the application shows "safe" status for commuting, an order issued by the personnel ministry said.
The Indian mutual funds, hit hard by redemption pressure, have something to cheer with the government allowing navratnas and mini-ratnas to invest 30 per cent of their surplus funds in equity market through public sector mutual funds.
'National assets, created over the years through tax-payers's money, should not be handed over to business houses at throwaway prices.'
Divestment in BPCL, SCI, Concor, NEEPCO, and THDC would help the Centre keep its fiscal deficit in check in the wake of subdued tax revenues and a Rs 1.45-trillion hit for the exchequer from corporation rate cuts.
Finance Ministry is planning to dilute its stake in seven or eight government companies.
It is imperative to check the basics of a company before investing in it
The government is likely to list four or five more of state-owned companies, which include Satluj Jal Vidyut Nigam Ltd, Manganese Ore India Ltd and Cochin Shipyard, by March next year. A senior government official said the government plans to dilute up to 10 per cent in these companies.
The government allows the oil companies to sell only a quarter of the total quantum of bonds they hold at any time during a quarter, so as to ensure that the market is not flooded with oil bonds. It has not yet decided on how the subsidy burden will be shared across stakeholders, how much of the subsidy from the government account will be given in cash and how much in the form of bonds, says an official.
Chairman says turnaround has begun in sector expects 10% growth in firm's core business this year.
For the first time, the bank is recruiting the CFO from outside its experienced talent pool of top management.
Doubts over implementation of a Cabinet-approved strategic sale policy are puzzling.
In a unique protest against fuel price hike, West Bengal Chief Minister Mamata Banerjee on Thursday rode pillion on an electric scooter to state secretariat Nabanna.
The ministry's year-end review is silent on the continued occupation by Chinese troops of territory that India has always claimed and patrolled.
Budget has already bombed at the box office and passing it without a revisit will be a mockery of the exercise though any modification may be short lived and perfunctory, observes V Ranganathan.
The government on Friday approved sale of its minority stakes in four public sector firms -- Hindustan Copper, Oil India, MMTC and Nalco-- to raise up to Rs 15,000 crore.
PSUs are asking for tax holiday for oil exploration and production activities to continue. The latest Budget imposes a Sunset clause for 100 per cent tax exemption for refining of mineral oil.
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