The group of ministers (GoM) may have recommended Rs 800 crore equity assistance to Air India as a short-term measure, but this amount is unlikely to help the ailing airline in any significant way.The GoM, which met recently under the chairmanship of finance minister Pranab Mukherjee, has recommended this amount be released as equity assistance to AI for November and December and that the money should...
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The stock jumped 9.8 per cent at Rs 182, after the company decided to increase the production capacity of friction materials by 3000 million tonnes from existing 20,000 million tonnes. The total expenditure will be around Rs 21.50 crore of which Rs 17.50 crore will be borrowed from banks and the rest from internal resources.The expansion work will start soon and is expected to be completed by the third...
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Private carrier Kingfisher Airlines plans to raise $ 600 million (Rs 3,000 crore) in the current financial year to pay-off a part of its debt. ...
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Central transmission utility PowerGrid today said it would raise Rs 3,000 crore through bonds by January next year....
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will raise up to Rs10,000 crore through sale of securities on November 13.Out of Rs 10,000 crore, Rs 3,000 crore would be raisedthrough sale of securities maturing in 2016 and the sameamount maturing in 2027, while Rs 4,000 crore throughsecurities maturing in 2019, an official statement said.The results of the auctions will be announced on November13, 2009 and payment by successful bidder will be on...
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India is seeking an additionalequity of Rs 5,000 crore from the government as it promises tosqueeze its fleet size and reduce the wage bill of its31,000-strong workforce.The national carrier has suggested that the governmentshould inject Rs 5,000 crore of equity over a period of threeyears from this fiscal, besides providing guarantee for low-cost working capital loans from banks, official sources...
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Sundaram Brake Linings Ltd (SBL) today said it will invest Rs 21.50 crore to increase production capacity of friction materials by 3,000 metric tonnes from existing 20,000 metric tonnes to cater to the growing export demands.''The expansion programme involves an expenditure of about Rs 21.50 crore, out of which Rs 17.50 crore will be borrowed from banks and the balance will be contributed from internal...
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Central transmission utility PowerGrid today said it would raise Rs 3,000 crore through bonds by January next year."We would raise Rs 3,000 crore via bond sale by January, 2010," PowerGrid Director (Finance) J Sridharan told reporters on the sidelines of the Economic Editor's conference here. The company is also seeking loans of Rs 8,750 crore from the World Bank and the Asian Development Bank to fund...
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The Air India Maharajacould soon see a significant shrinking of his kingdom. A group of ministers(GoM) headed by finance minister Pranab Mukherjee has categorically told theAI-IA combine to drastically prune all loss-making routes, which could includethe airline’s prestigious daily non-stop flights to New York from Delhiand Mumbai. (This directive came after AI’s management told theGoM it loses Rs...
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Public Sector Canara Bank has earned a net profit of Rs 911 crore during the second quarter ending September 30 2009, thus recording a robust growth of 72 per cent as compared to Rs 529 crore earned in the corresponding quarter last year.Briefing newsmen here, Bank Chairman and Managing Director A C Mahajan said the operating profit also increased by 84 per cent to reach 1,419 crore. The Bank's total...
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