Foreign investors want govt to defer Coal India stake sale

Opposing an immediate stake sale in Coal India Ltd, foreign investors have told the Finance Ministry that further disinvestment in the coal miner should be put off as the current market valuation is low. Foreign investors such as Fidelity, Wellington... Read more

Govt may fix minimum import price for steel products this week

Ministries of Commerce and Steel are close to finalising the minimum import price of about 30-35 steel products, which is likely to be announced this week. The government wants to fix a minimum price for the in-bound shipment of certain... Read more

Kendriya Bhandar to sell imported tur dal in Delhi from Oct 15

To boost availability and check rising prices, state-run Kendriya Bhandar will start selling imported tur dal at its 100 locations in Delhi from October 15, while sale of the commodity at Mother Dairy’s 300 Safal outlets will begin from this... Read more

Kesoram invests Rs 800 cr for radial tyres

The BK Birla Group’s flagship company Kesoram Industries is restructuring its tyre business by selling one unit and investing Rs 300 crore to foray into radial tyres for cars. This investment over the next six months is in addition to... Read more

Rupee ends marginally lower at 64.75 against US dollar

The rupee ended marginally lower by one paise to 64.75 against the American currency on mild dollar demand from banks and importers. The domestic currency opened lower at 64.82 per dollar as against Friday’s closing level of 64.74 at the... Read more

Dow, DuPont merger to create three entities in India

The merger of Dow Chemical Company and DuPont, with combined market value of $130 billion, will result in creation of three separate entities in India with agriculture products, material science and specialty products as main businesses. At present, Dow Chemicals... Read more

Old sites can’t house Ultra Mega Power Plants

Plans to build a clutch of ultra mega power plants (UMPPs) at the sites of vintage coal-based stations could come a cropper with surplus land having been eroded by rapid urbanisation. Moreover, the Central Electricity Authority (CEA), which was mandated... Read more

Federal Bank sells stressed loans of GOL Offshore

Private sector lender Federal Bank, which has been battling high non-performing assets (NPAs), has sold theloans of GOL Offshore (formerly Great Offshore) to asset reconstruction companies (ARCs). “The account was standard in our book, but we could foresee trouble brewing.... Read more