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HindustanTimes Thu,21 Aug 2014

Business

SAIL lines up Rs. 1,35,000-crore plan to triple capacity in 10 yrs

Steel Authority of India Ltd, will embark on the biggest expansion drive in its history to more than double its capacity to 50 million tonnes by 2025, a move that is likely to involve an an investment of Rs. 1,35,000 crore.

What’s cooking? 77 more towns set to receive piped gas access

Lakhs of customers and households will now have access to piped natural gas (PNG) with the government readying a roadmap to cover 77 new towns and cities across India over the next four to five years.

Insurance sector is hot again, global cos revive India plans

With foreign direct investment (FDI) limit in insurance set to go up to 49% from the current 26%, several global insurance giants are likely to revive their plans to enter the under-penetrated Indian market.

RBI forms committee to monitor shadow banking; realty in focus

With a large number of financial scams coming up in recent years, the Reserve Bank of India (RBI) has decided to take the growing phenomenon of shadow banking head on.

Tatas may invest in Navi Mumbai airport

The aviation ministry recently allowed the Navi Mumbai airport, to be built through public-private partnership (PPP), to raise 26% of its equity from airlines against the 10% allowed in PPP airports.

Female bank staff may soon get transfers of their choice

The finance ministry has asked banks to formulate women-friendly transfer policies so that they can relocate to places where their husbands are working or parents are living, sources said.

REITs to need insurance cover; can't promise guaranteed return

To safeguard investors' interest,new norms for the launch of Real Estate Investment Trusts (REITs) in India will require such bodies to take adequate insurance cover for their realty assets and bar them from promising any guaranteed returns.

WPI to average 5.4%, CPI to average 7.0-7.5% in FY15: Barclays

The WPI inflation is likely to average around 5.4% and CPI to average between 7.0-7.5% during FY 14-15, says a Barclays research report.

DoT working on modalities of BSNL-MTNL merger

In a bid to revive BSNL and MTNL, department of telecom is working on modalities to merge the two state-run telecom companies and also undertake organisational restructuring.

Markets may take cues from global factors this week: Experts

In the absence of any major domestic trigger, stock markets are likely to take cues from global factors amid geopolitical concerns in Iraq and Ukraine this week, say experts.

Sebi starts probes in 108 new case in FY 2014

Capital market watchdog Sebi started probe into 108 new cases related to manipulations in the securities laws and completed investigation in 120 matters during the last financial year.

Mutual Funds buy shares worth Rs. 5,000 cr in July

Improved market sentiment helped Mutual Funds pick up shares worth over Rs. 5,000 crore in July, making it the highest monthly inflow in six-and-a-half years.

FIIs pull out Rs. 5,300 cr from bonds in Aug

Overseas investors have pulled out nearly Rs. 5,300 crore from the Indian debt market since the beginning of the month.

Airlines run into audit red-flags over 'going concern' status

While auditors of now-grounded Kingfisher Airlines have been raising red flags for a long time, auditors of low-cost carrier SpiceJet have pointed out in their latest quarterly review report the airline's total liabilities exceeded its total assets by Rs. 1,145.58 crore as on June 30, 2014.

Aircel-Maxis case: CBI to question finance ministry officials

CBI is mulling questioning some officials of the finance ministry who were part of Foreign Investment Promotion Board (FIPB) clearance process given to Aircel-Maxis deal even as it plans to file the first charge sheet in the matter this week.

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