Briefly Business

Trading in bonus shares of Reliance Industries will start on Monday,which is likely to swell the total number of shares of the company to as much as 330 crore.

RIL bonus share trading from today

Mumbai: Trading in bonus shares of Reliance Industries will start on Monday,which is likely to swell the total number of shares of the company to as much as 330 crore. The Mukesh Ambani-led company,which last month approved 1:1 issuance of bonus shares after a 12-year hiatus,in a stock exchange disclosure,had said that it would issue a maximum of 166.97 crore equity shares of Rs 10 each as bonus shares to eligible shareholders.

DoT moves SC on 2G licence cut-off date

New Delhi: Stung by the Delhi High Courts verdict that slammed the Department of Telecom for arbitrarily advancing the cut-off date for release of 2G spectrum to new telecom operators,the government has challenged the order before the Supreme Court. The DoT has filed a Special Leave Petition in the apex court,saying all the rules and regulations were followed while allocating licences for 2G spectrum to new mobile operators.

Govt plans to review tax treaties

New Delhi: The government is planning to comprehensively revise tax treaties with as many as 25 nations,including Switzerland and Mauritius,and re-negotiate with 51 others,to trace black money. Apart from a limited review with 51 nations,the government plans a comprehensive revision of the existing tax treaties with 25 countries,including Swiss Confederation,Mauritius,Malaysia,Norway and the Netherlands.

JSW Energy raises Rs 465 crore

New Delhi: Private sector power producer JSW Energy has raised Rs 464.86 crore through the issue of shares to seven anchor investors under its public offer,which opens on Monday for subscription. The company has alloted,in total,4.22 crore shares to 7 anchor investors,which include Anil Dhirubhai Ambani Group firm Reliance Capital Trustee and Credit Suisse Singapore Ltd at a price of Rs 110 per piece,JSW Energy informed the stock exchanges.

1,000 bankers quit RBS over bonus row

London: More than 1,000 investment bankers have quit the Royal Bank of Scotland to join rival firms after the British government ordered the lender to clamp down on bonuses this year,a media report says. Citing banking sources,The Sunday Times said,more than 1,000 investment bankers have quit the Royal Bank of Scotland to join rival firms for guaranteed cash bonuses and big salary increases.

RBI could wait before buying more IMF gold

New Delhi: Amid speculation that RBI may buy more gold from the IMF,the Prime Ministers economic advisory panel has said the central bank should wait for some more time before going for another round of purchases. Having bought 200 tonnes of gold,they RBI might wait. I think there is no particular hurry to buy more. At the moment,I think they have made a substantial increase to the total quantity of gold they have, PMEAC chairman C Rangarajan said.