The government will sell 10% stake, or 631.7 million shares, in Coal India Ltd (CIL) through an offer for sale (OFS) on Friday, which is likely to generate more than Rs. 24,000 crore at an estimated price of Rs. 375-385 per share.
In a move that will likely soothe investors’ frayed nerves, the government on Wednesday decided not to appeal a Bombay High Court ruling in favour of Vodafone in a Rs. 3,200-crore tax dispute over a share transaction involving a local subsidiary.
Apple made more money in the last quarter than ever before, by selling more of its costliest iPhones ever. And it’s not about to ease up — Apple Watch is shipping out in April.
Govt may announce cut in petrol prices soon
The Cabinet on Wednesday approved a reserve price of Rs. 3,705 crore per megahertz (MHz) for third generation (3G) spectrum auction due March 4 next, communications and IT minister Ravi Shankar Prasad said.
Lending under Jan Dhan capped at Rs 5K
Snapping its bull-run for eight consecutive sessions, the benchmark BSE Sensex fell over 58 points in early trade Wednesday as participants locked-in gains at current levels amid a weak trend overseas. Besides, profit-booking in stocks of realty, auto, metal, banking, capital goods and oil & gas sectors, negatively impacted trading sentiments.
The rupee fell by 10 paise to 61.51 against the dollar in early trade on Wednesday at the Interbank Foreign Exchange market due to appreciation of the US currency overseas.
The government has chosen the Ordinance route to put into force several legislative Bills over the past months. Many of these are expected to be tabled in Parliament in the upcoming budget session. HT explains four of them
The government may soon decide whether you actually need the subsidy on your cooking gas cylinder by drawing a line on who deserves it.
As India and the US moved towards resetting their business relationship, markets are keenly watching for cues on specifics on a host of sectors such as nuclear power, defence production and renewable energy.
Yahoo Inc plans to spin off its 15% stake in China's Alibaba Group Holding Ltd, responding to pressure to hand over to shareholders its prized e-commerce investment valued at roughly $40 billion.
Apple Inc quarterly results smashed Wall Street expectations with record sales of big-screen iPhones in the holiday shopping season and a 70% rise in China sales, powering the company to the largest profit in corporate history.
Finance minister Arun Jaitley on Tuesday said there is huge curiosity and interest especially among domestic and foreign investors regarding India and the opportunity cannot be missed.