Nine of the country's largest commercial banks including State Bank of India (SBI), ICICI Bank and HDFC Bank reportedly have exposure of $420 million in the US financial giants which collapsed recently. The government feels banks other than SBI would suffer losses of Rs 600 crore due to the crisis.
The Children's Investment Fund (TCI), a UK-based hedge fund, is reportedly planning legal action against Anil Agarwal-owned Vedanta Resources for its recent restructuring proposal, on the ground that it is skewed against minority shareholders. Recently, the UK-based Vedanta Resources Inc., parent of the country's largest zinc and copper producer, Sterlite Industries India had announced that it was splitting its businesses into three commodity-based verticals to simplify the group corporate structure.
Sterlite Technologies is reported to be in advanced discussions to acquire UK-based cabling company Brand-Rex for roughly $55 million.
Cement prices are likely to go up by Rs 3 - Rs 5 per bag in Mumbai, Delhi, National Capital Region, Gujarat and the southern markets from 1 October 2008, suggest reports.
Reliance Petroleum reportedly plans to begin production at its second refinery in Jamnagar by mid-November.
Karuturi Global is reportedly raising $100 million by selling a 15% stake in its Dubai-based subsidiary.
Essar Shipping Ports & Logistics is reportedly in talks with a few global container port operators for a tie-up as part of its plans for a foray into container berth operations in the Indian ports sector.
Unlisted Sahara India Financial Corporation will reportedly sell its equity stake in Sahara One Media and Entertainment and use the proceeds to meet investment norms laid down by the Reserve Bank od India.
Maytas Infrastructure said on Monday, 23 September 2008 it has secured contracts to build electricity sub-stations, transmission lines and related works in two districts in Maharashtra. The two contracts are totally worth Rs 481 crore, it said in a statement.
Lanco Infratech on Monday, 23 September 2008 said it has received a contract worth Rs 308.98 crore from Andhra Pradesh government for construction related works.
The board of Mirc Electronics at the meeting held on 18 September 2008 approved the proposed amalgamation of Guviso Holdings with the company.
The Children's Investment Fund (TCI), a UK-based hedge fund, is reportedly planning legal action against Anil Agarwal-owned Vedanta Resources for its recent restructuring proposal, on the ground that it is skewed against minority shareholders. Recently, the UK-based Vedanta Resources Inc., parent of the country's largest zinc and copper producer, Sterlite Industries India had announced that it was splitting its businesses into three commodity-based verticals to simplify the group corporate structure.
Sterlite Technologies is reported to be in advanced discussions to acquire UK-based cabling company Brand-Rex for roughly $55 million.
Cement prices are likely to go up by Rs 3 - Rs 5 per bag in Mumbai, Delhi, National Capital Region, Gujarat and the southern markets from 1 October 2008, suggest reports.
Reliance Petroleum reportedly plans to begin production at its second refinery in Jamnagar by mid-November.
Karuturi Global is reportedly raising $100 million by selling a 15% stake in its Dubai-based subsidiary.
Essar Shipping Ports & Logistics is reportedly in talks with a few global container port operators for a tie-up as part of its plans for a foray into container berth operations in the Indian ports sector.
Unlisted Sahara India Financial Corporation will reportedly sell its equity stake in Sahara One Media and Entertainment and use the proceeds to meet investment norms laid down by the Reserve Bank od India.
Maytas Infrastructure said on Monday, 23 September 2008 it has secured contracts to build electricity sub-stations, transmission lines and related works in two districts in Maharashtra. The two contracts are totally worth Rs 481 crore, it said in a statement.
Lanco Infratech on Monday, 23 September 2008 said it has received a contract worth Rs 308.98 crore from Andhra Pradesh government for construction related works.
The board of Mirc Electronics at the meeting held on 18 September 2008 approved the proposed amalgamation of Guviso Holdings with the company.
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