Six hoteliers withdraw from Commonwealth Games projects

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The Delhi Development Authority (DDA) has recommended cancellation of allotment of plots to six hoteliers for projects related to the Commonwealth Games, 2010. The hotel majors have reportedly opted out on the back of a deepening recession which is expected to result in lower visitor turnout. DDA sources claimed that the hoteliers did not commence … Read more Six hoteliers withdraw from Commonwealth Games projects

Universal Sompo Insurance aims 2-3% share by 2011-12

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Universal Sompo General Insurance Company, a venture between Allahabad Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investments and Sompo Japan Insurance Inc, is aiming to tap a 2-3% share in the domestic market by 2011-12. It is also eying a premium base of Rs 50 crore by March 2009. The company commenced its operations in … Read more Universal Sompo Insurance aims 2-3% share by 2011-12

Unitech promoter holding falls – Satyam like situation ?

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Unitech’s recent Dec’08 filing to the BSE suggests promoter shareholding has fallen to 67.5% as at Dec’08 from 74.6% in Sep’08; believe this could be on account of promoter sale or lenders selling promoters pledged shares, no confirmation on the management from this. Further, we believe promoter holding is likely to come down further in … Read more Unitech promoter holding falls – Satyam like situation ?

RBI Quarterly Review – Repo, Reverse Repo, CRR rates unchanged

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The RBI in its quarterly review has left the Repo, Reverse Repo and CRR rates unchanged surprising the market expectations of smaller cuts. While there were some expectations that the apex bank would further loosen its monetary policy in response to faster-than-expected pace of decline in inflation, RBI feels that there is enough monetary currents … Read more RBI Quarterly Review – Repo, Reverse Repo, CRR rates unchanged