Kingfisher Airlines to raise $100 mnAugust 31st, 2009 NEW DELHI - Vijay Mallya-owned Kingfisher Airlines Monday said it planned to raise $100 million (about Rs.500 crore) in Global Depository Receipts (GDRs). In a regulatory statement to the Bombay Stock Exchange (BSE), it said the funds would be raised subject to shareholders' approval.
India inc to raise Rs.16,000 crore through public offersJuly 30th, 2009 NEW DELHI - Buoyed by the recent surge in capital markets, India Inc is planning to raise Rs.16,000 crore ($3.3 billion) through initial public offerings (IPOs) this fiscal, an industry lobby report said Thursday. "The companies are weighing higher expectations from renewed investor's sentiments to raise funds from the primary market," Assocham president Sajjan Jindal said.
HDFC to raise Rs.4,000 crore via private placementJuly 22nd, 2009 MUMBAI - Housing Development Finance Corp (HDFC) Wednesday said it will raise Rs.4,000 crore ($826 million) through private placement of securities. The company has sought its shareholders' approval for issuance of warrants with redeemable non-convertible debentures to qualified institutional buyers not exceeding Rs.4,000 crore, HDFC said in a regulatory statement.
Government increases infrastructure fundingJuly 6th, 2009 NEW DELHI - Infrastructure development continues to be a priority area for the United Progressive Alliance (UPA) government with Finance Minister Pranab Mukherjee increasing public investment in this sector. "The investment in infrastructure for the growth of economy is critical.
Takeout financing scheme to be evolved by IIFCLJuly 6th, 2009 NEW DELHI - The India infrastructure Finance Company Limited (IIFCL) will evolve a 'takeout financing' scheme in consultation with banks to facilitate incremental landing to infrastructure sector. Union Finance Minister Pranab Mukherjee announced this while presenting the General Budget 2009-10 in the parliament.
West Bengal power firm plans Rs.5,000 crore investmentsJuly 2nd, 2009 KOLKATA - State-owned West Bengal State Electricity Distribution Company Limited (WBSEDCL) is planning to raise Rs.5,000 crore in the next three years to fund rural and urban electrification, a top company official said here Thursday. "Around Rs.3,000 crore will be invested for rural electrification, Rs.1,000 crore for enhancement of urban facilities and another Rs.1,000 crore for customer service automation," Malay K.
NRI deposits in Kerala banks touch record highJune 25th, 2009 THIRUVANANTHAPURAM - Deposits by non-resident Indians (NRIs) in Kerala banks grew from Rs.29,889 crore in March 2008 to a record high of Rs.37,019 crore as on March 31, 2009, according to the State Level Bankers Committee (SLBC). This was revealed at the 99th meeting of SLBC that took place here Thursday.
City Union Bank to raise Rs.250 croreJune 11th, 2009 CHENNAI - City Union Bank, an old generation private lender based in Tamil Nadu, Thursday said it will raise Rs.250 crore over the next two years to fund its expansion plans. "Our target is to have a net worth of Rs.1,000 crore in two years time.
Hindustan Petroleum net down 44.5 percentJune 2nd, 2009 MUMBAI - State-run oil refining and marketing major Hindustan Petroleum Co Ltd (HPCL) Tuesday reported 44.5 percent fall in consolidated net profit for 2008-09 at Rs.757.32 crore, down from Rs.1,364.1 crore recorded the year before. However, the overall turnover during the period marked an increase of 16.5 percent at Rs.129,978.82 crore, comparing to Rs.111,603.58 crore in 2007-08.
State Bank of India net profit up 45.62 percentMay 9th, 2009 MUMBAI - The country's largest lender State Bank of India (SBI) Saturday reported a 45.62 percent rise in its net profit for the quarter ended March 31. The bank said in a regulatory statement that its fourth quarter profit stood at Rs.2,742.31 crore, up from Rs.1,883.25 crore in the like period last year.
State Bank plans to raise Rs.20,000 croreMay 8th, 2009 KOLKATA - State Bank of India (SBI), the country's largest lender, wants to raise Rs.20,000 crore in the current fiscal, a top company official said here Friday. 'SBI wants to raise Rs.20,000 crore this fiscal.
HDFC net profit down 6.3 percentMay 4th, 2009 MUMBAI - Major housing loan provider HDFC Monday said its net profit dipped 6.3 percent to Rs.2,282.54 crore for the year ended March 31 from Rs.2,436.25 crore the previous fiscal. The company's total income, however, rose 36.33 percent in 2008-09 to Rs.10,992.43 crore from Rs.8,062.8 crore it made in the previous year.
Allahabad Bank net up 55.8 percent in fourth quarterMay 4th, 2009 KOLKATA - State-run lender Allahabad Bank Monday reported a net profit of Rs.264.09 crore in the fourth quarter of 2008-09 as against Rs.169.51 crore in the like period last fiscal, a rise of 55.8 percent. However, the bank's yearly profit fell 21 percent last fiscal.
Ceat posts loss of Rs.16 crore in 2008-09April 29th, 2009 NEW DELHI - Tyre maker Ceat Ltd Wednesday reported a loss of Rs.16.12 crore for the year ended March 31, 2009, even as the company's total income rose by a marginal 8 percent from the year before. In 2007-08, the company had posted a net profit of Rs.148 crore.
JSW Steel to invest Rs.3,000 crore in 2009-10April 22nd, 2009 NEW DELHI - JSW Steel, one of the leading steel makers in the country, will invest Rs.3,000 crore in 2009-10 to expand its production capacity, a top official said here Wednesday. 'We are planning to invest Rs.3,000 crore in the current financial year to expand our production capacity,' Sajjan Jindal, vice-chairman and managing director of JSW Steel, told reporters on the sidelines of a business meet.
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