Centre may go in for more private placements with RBI
The Union government is likely to have a string of private placements with the Reserve Bank of India (RBI) before the Union budget is presented in the first week of June. Economists predicted that with a widespread gap between the government's expenditure and revenues, the Centre's recourse to the ways and means advances (WMA) will increase.
Hutchison Max to raise Rs 200 cr via rupee debt
Hutchison Max Telecom Ltd, one of the two cellular operators in Mumbai, is planning to raise about Rs 150 crore to Rs 200 crore through rupee debt by the end of the year. This would be in addition to the Rs 275 crore to Rs 300 crore infrastructure bond issue that the company plans to come out with shortly.
Sri Adhikari Brothers plans to stave off takeover attempt via preferential issue
The core promoters of Mumbai-based Sri Adhikari Brothers Television Network Ltd plan to increase their stake from 40% to 60% in order to thwart any takeover attempt. The core promoters will be raising their equity holding through an issue of around 25 lakh warrants on a preferential basis.
Castrol Plc not to sell preferential shares without court permission
Castrol Plc of UK has agreed to give an undertaking before the Delhi high court that it will not sell or dispose of the preferential shares allotted to it in Castrol India Ltd without the permission of the court. The undertaking has been given in response to a writ petition filed before the court, challenging the validity of the preferential allotment made to Castrol Plc in 1993.
RH Patil seeks tax relief for clearing corporations
The managing director of National Stock Exchange (NSE), RH Patil, has made a strong pitch before the finance minister to exempt clearing corporations from paying tax on income earned by them. This formed part of a five-point demand plan that Patil put forward in the pre-budget meeting attended by him in New Delhi on Monday for the development of the capital markets.
BSE auction throws light on speculative nature of bull run
The auction conducted on the Bombay Stock Exchange (BSE) on April 27 to bridge the shortfalls reported for the settlement ended April 17 has brought to light the speculative nature of the current bull run witnessed on the bourse. Stocks which hogged the limelight during the week ended April 17 have recorded chunks of auction volumes, signifying the presence of short positions which were not squared on account of a steady rise in the stock prices.
