Briefly Business

Sensex slips 156 pts on interest rate concerns

mumbai: The BSE Sensex fell for the fifth day in a row today,slipping another 156 points to 19,135 amid investor concerns that high inflation will lead to another round of hike in interest rates,hitting corporate margins. The Sensex has fallen nearly 450 points or 2.3 per cent in the last five sessions. Marketmen said interest rate sensitive banking and realty stocks took a beating as investors feared imminent rate hike by the Reserve Bank of India RBI to rein in inflation. Capital goods,consumer durables,metals and PSU stocks were the other major losers of the day ahead of RBI meeting next week.

ASBA mandatory from May 2: Sebi

mumbai: All non-retail investors will have to use the ASBA facility where money is debited from investors account only after share allotment from May 2 to apply for share sale offers in the capital market,Sebi said on Friday. Under the Application Supported By Blocked Amount ASBA facility,the application money of investors remains blocked in his bank account until the process of allotment of shares is completed.

Adanis Rs 5,000-crore township in Gujarat

mumbai: Adani Groups real estate arm Adani Realty Business on Friday announced a township project in Ahmedabad envisaging an investment of Rs 5,000 crore. We are commissioning largest realty project till date Shantigram,which will be spread over 600 acres in Ahmedabad,and will entail an investment of Rs 5,000 crore, Adani Realty CEO Tarwinder Singh said. The company will be investing Rs 3,000 crore for land development.

India Inc raises 5.63 bn in March via ECBs

mumbai: India Inc raised over 5.63 billion overseas in March through external commercial borrowing ECB,the Reserve Bank said on Friday. Around 90 companies raised over 2.90 billion for various projects through the automatic route,which does not require the Reserve Banks or the governments approval. Besides,as many as 11 firms raised around 2.73 billion under the approval route,according to the RBI data. Reliance Telecom and Reliance Communications mopped up 300 million each for their telecommunications projects through ECB during the month.