Editor's Desk - FreePress India

FIIs net sellers of Rs 371 cr (prov) in the spot market on Thursday

August 7, 2009August 7, 2009 by Editor's Desk

Foreign institutional investors (FIIs) were net sellers of Rs 371.41 crore (provisional) in the spot market on Thursday, according to information posted on the BSE website. While FIIs made gross purchases of Rs 2,509.11 crore, their gross sales stood at Rs 2,880.52 crore.

On the other hand, domestic institutional investors (DIIs) were net buyers of Rs 257.40 crore (provisional) on the same day. While DIIs made gross purchases of Rs 1,524.08 crore, their gross sales aggregated Rs 1,266.68 crore.

Bajaj Allianz’s premium collection drops 30% in June quarter

August 6, 2009August 6, 2009 by Editor's Desk

Bajaj Allianz Life Insurance Company has recorded a fall of 30% in fresh premium collection in first quarter of FY 2009-10.

The insurer’s new premium collection stood at Rs 577.66 core at the end of the June quarter, as against Rs 829.24 crore in corresponding period of the last year.

Overall, 21 private sector life insurers have collected first premium of Rs 5,427.67 crore in the first quarter of FY’10 against Rs

Government to monitor infra projects closely

August 6, 2009 by Editor's Desk

In order to give a push to infrastructure development in the country and solve the bottlenecks in the way, the Cabinet Committee on Infrastructure (CCI) has set strict monitoring targets for all core projects. The 12-member CCI is headed by Prime Minister Manmohan Singh.

Indian infrastructure projects are known for long delays and cost overruns. According to the government’s own estimates, more than 50% of the infrastructure projects currently being undertaken in the country are suffering from substantial delays. Data available with the ministry of statistics and programme implementation shows that 423 of the 925 projects going on at various parts of the nation have crossed their deadlines.

FIIs net sellers of Rs 691 cr (prov) in the cash segment on Wednesday

August 6, 2009August 6, 2009 by Editor's Desk

Foreign institutional investors (FIIs) were net sellers of Rs 690.53 crore (provisional) in the cash segment on Wednesday, as per information posted on the BSE website. While FIIs made gross purchases of Rs 1,857.12 crore, their gross sales amounted to Rs 2,547.65 crore.

Domestic institutional investors (DIIs) were net sellers of Rs 23.90 crore (provisional) on the same day. While DIIs made gross purchases of Rs 1,083.12 crore, their gross sales stood at Rs 1,107.02 crore.

AAI to become a listed company: Praful Patel

August 5, 2009 by Editor's Desk

Civil aviation minister Praful Patel has said that Airports Authority of India (AAI) would be floated as a joint stock company by amendments in order to raise funds from market for carrying out modernisation of a large number of major airports across the country with an objective of listing it in the stock market.

The ministry would soon amend the AAI Act to corporatize the the government entity to help its financial future.

NHAI mulls cutting toll tax by 30-35%

August 5, 2009 by Editor's Desk

In order to reduce the cost of transportation, National Highways Authority of India (NHAI) is mulling a proposal to scrap the 30-35% premium on toll charged on highways bypassing cities.

The move has come in the wake of instances of consumers using alternative routes to save costs. The apex body has also suggested doing away with the extra toll that private concessionaires charge for roads on which they have spent between Rs 50 crore and Rs 100 crore. No toll is charged on roads costing less than Rs 50 crore to upgrade or construct as of now.