Month: January 2009

India’s banking regulator Reserve bank of India (RBI) has cut rates across the board ahead of its quarterly review in shceduled later in January. The bank lowered both its policy rates repo and reverse repo by 100 bps while the reserve ratio CRR has been cut by 50 bps. CRR cut will release about Rs … Read more RBI cuts rates across the board

Karuturi Global Board after having received the balance 90% of the consideration amount, allotted 7, 13, 50,000 equity shares to the different investors who has exercised their option of conversion of warrants issued at Rs 16.50 warrant. The Board has also allotted 5,17,750 equity shares to the employees of the Company who has exercised the … Read more Karuturi Global conversion of warrants

Public-sector banking entity, Andhra Bank, is eyeing Rs 100,000 crore business by March 2009 and Rs 150,000 crore by the second quarter of fiscal 2010 from Rs 95,000 crore at present. The bank also aims to boost its lending and deposits and expects to improve net interest margin to 3-3.25% in next fiscal from 2.61% … Read more Andhra Bank eyes Rs 100,000 crore business by fiscal end

State-owned major iron-ore producer, National Mineral Development Corporation (NMDC), has sent a proposal for setting up a 10 million tonne integrated steel plant in Karnataka with an investment of around Rs 40,000 crore. The Navratna PSU has requisitioned 4,000 acres of land and has sought approval for water supply and mineral linkages for the project. … Read more NMDC to set up a steel plant in Karnataka

In keeping with its objective to stimulate demand through a major product offensive, Bajaj will, in January 2009, launch an all new motorcycle, the first of several to be introduced in 2009. Bajaj Auto Ltd has informed us that the company will launch a bike targeted at the ‘Sport Commuter‘ segment, this motorcycle will be … Read more Bajaj Sports Motorbike Launch this Month

With gathering steam from the demand for a grand stimulus package, it is learnt that the government is mulling an investment of Rs 1,00,000 crore in the infrastructure sector within the next two years. To bankroll the plan, the government may ask Infrastructure Investment Finance Company (IIFCL) to put together a corpus of over Rs … Read more INR 1 lakh cr for infra sector rescue package