Business Daily from THE HINDU group of publications
Tuesday, June 16, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, June 16, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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MONEY & BANKING HOUSING FINANCE: Nomura agrees to buy 30.5% stake in LIC MF Mumbai, June 15 Japanese financial services group Nomura has agreed to pick up a 30.5 per cent stake in LIC Mutual Fund for around Rs 227 crore. The deal values the Indian company at over Rs 700 ... TAXATION: Sops for lending As Budget time approaches, various stakeholders, hurt by economic cycles, urge tax concessions of one kind or another. Since September, when the current crisis first hit Indian shores, pleas for such tax relief have been aired by exporters ... GENERAL INSURANCE: Private non-life insurers report negative growth Need to conserve capital, defend solvency weighs on companies. Bangalore, June 15 Public sector insurers have outpaced private sector peers for the first time since the non-life insurance sector was ... FOREX: Rupee weakens against $ Rupee weakened against the dollar due to negative domestic equity markets and as the dollar strengthened in the overseas markets. The rupee opened weak at 47.72 and weakened during the day to touch 47.9950. There were some stray deals at 48, a ... GOVT BONDS: Bond prices rise marginally Bond prices rose marginally on Monday in a range-bound market, said dealers. There was not much movement in the prices. The markets had already factored in the auction of Rs 15,000 crore of government securities this week, said a dealer with ... SHORT TERM INSTRUMENTS: Call rate steady The inter-bank rate closed at 3.2-3.3 per cent, almost unchanged from the previous close of 3.2-3.25 per cent. Under the liquidity adjustment facility (LAF) auction, there were no bids in the one-day repo auction. In the reverser repo auction, ... PEOPLE: Chakrabarty takes charge as RBI Deputy Governor Mumbai, June 15 Dr K. C. Chakrabarty on Monday took charge as a Deputy Governor of the Reserve Bank of ... CONSUMER FINANCE: Rise in car sales augurs well for Kotak Mahindra Prime Co to raise Rs 3,000 crore. Mumbai, June 15 Kotak Mahindra Prime Ltd (KMPL) is banking on improving car sales and a slew of new car launches to grow its topline by around 30 per cent in FY10 after adverse market conditions impacted business in ... PUBLIC SECTOR BANKS: Allahabad Bank may raise Rs 1,000 cr this fiscal Kolkata, June 15 Allahabad Bank is likely to raise Rs 1,000 crore in 2009-2010 to boost its capital adequacy ratio and fund its business growth, according to its Chairman and Managing Director, Mr K. ... FINANCIAL INSTITUTIONS: APSFC aims for Rs 800-cr disbursement The Andhra Pradesh State Financial Corporation (APSFC) is planning to disburse Rs 800 crore to entrepreneurs in the State during the current financial year, according to Mr M.V. Brahmananda Rao, ... PEOPLE: IDBI Gilts appointment Mumbai: Mr G.A. Tadas has been appointed as Managing Director and CEO of IDBI Gilts on deputation from IDBI Bank, with effect from June 13, a press release issued here on Monday said. ... CONSUMER FINANCE: Tata Motors, Bank of India tie up Mumbai, June 15 Bank of India has entered into an understanding with Tata Motors to ensure consumer finance for Fiat cars which are available through the Tata-Fiat dealer ... PUBLIC SECTOR BANKS: Union Bank raises Rs 200 cr Tier-I capital Mumbai, June 15 Union Bank of India has raised Rs 200 crore Tier-I capital through subordinated perpetual bonds. The issue opened on June 8 and closed on June 13, said a bank press ... HOUSING FINANCE: Investor appetite for mutual funds’ stake likely to revive LIC-Nomura deal may pave way for banks to unlock value from AMC arm. Putting an end to prolonged speculation, LIC Housing Finance partly cashed out of its mutual fund arm on ... Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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