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In a move to help the cash stripped developers optimize their foreign capital inflows, the commerce ministry under Kamal Nath is contemplating easing foreign direct investment (FDI) norms for the sector. The new proposal will allow the real estate companies which brought FDI into projects that qualified for the purpose earlier, to divert such funds, … Read more Government may ease FDI norms for realty developers
Foreign institutional investors (FIIs) were net sellers of Rs 288.45 crore (provisional) in the cash segment on Wednesday, according to data appearing on the BSE website. While FIIs made gross purchases of Rs 960.41 crore, their gross sales aggregated Rs 1,248.86 crore. Domestic institutional investors (DIIs) were net buyers of Rs 102.34 crore (provisional) on … Read more FII net sellers of Rs 288 cr in cash segment on Wednesday
India’s largest Blast Furnace at JSW Steel Vijayanagar Works is commissioned today, l8 February 2009. Mr P R Jindal, formally commissioned the Blast Furnace in the presence of Mr. Sajjan Jindal, VC & MD, JSW Steel, Mr. Y Siva Sagar Rao, Joint Managing Director & CEO, JSW Steel Vijayanagar Works and several other dignitaries. This … Read more JSW Steel commissions India’s largest Blast Furnace at Vijayanagar
Chief Mentor of Infosys Technologies Ltd, N R Narayana Murthy has declined the offer made by Sri Lanka President Mahinda Rajapaksa to become the country’s information technology (IT) advisor. Narayana Murthy refused the offer citing personal reasons. In a separate development, concerning Infosys Technologies, Oman-based Bank Dhofar has chosen the banking solution – Finacle, developed … Read more Narayana Murthy declines Sri Lankan Govt offer
Tata Motors has formed an alliance with Central Bank of India to provide financing facilities for its range of passenger vehicles. The bank would offer finance at its all 3,500 branches and 329 sales touch points of the India’s largest automobile company. Central Bank offers auto loans up to 85% of the on-road price, for … Read more Tata Motors association with Central Bank to provide vehicle financing
The rupee breached the 50 per dollar mark in noon trades, the level last seen on December 3, 2008. Earlier it opened at 49.71 against its previous close of 49.67/68 a dollar on Tuesday. Traders attributed the plunge to banks buying dollars to arbitrage in the offshore non-deliverable forwards, which put pressure on spot rates. … Read more Rupee breaches 50 per US dollar mark in noon trades