Briefly Business

The countrys biggest realty player DLF on Wednesday said it plans to raise Rs 1,000 crore through unsecured loans by the end of this month...

DLF to raise Rs 1K cr,hints at price rise

NEW DELHI: The countrys biggest realty player DLF on Wednesday said it plans to raise Rs 1,000 crore through unsecured loans by the end of this month,while hinting that prices in the housing segment could witness an increase. DLF Group executive director Rajiv Talwar said prices in the housing segment could increase in the near future with demand coming back,which helped the company sell units worth nearly Rs 500 crore in January.

Lamp;Ts insurance foray,gets IRDA nod

NEW DELHI: Engineering and construction major Larsen and Toubro is likely to start its general insurance business in the first quarter of next fiscal and has got preliminary approval from the insurance watchdog. IRDA member R Kannan said that the insurance watchdog has given its initial R1 approval to Lamp;T and the company would take at least three-four months to start the venture.

SAILs FPO proposal in Cabinet in 10 days

NEW DELHI: The steel ministry on Wednesday said that it will send the 20-per cent share sale proposal of steel maker SAIL to the Cabinet in the next 10 days. We will send the 20-per cent FPO proposal of SAIL to the Cabinet within next 10 days, steel secretary Atul Chaturvedi said.

Airtel pays highest revenue to govt in Q3

NEW DELHI: Bharti Airtel paid the highest revenue,both in terms of spectrum charges and licence fees,to the government for the quarter ending December 2009. As per the data compiled by TRAI,Bharti paid Rs 570.17 crore as licence fees and Rs 301.49 crore as the spectrum charge for Q3.

CommMin to take up new SEZ applications

NEW DELHI: The commerce ministry will take up fresh applications for setting up special economic zones on Thursday even as more developers are seeking extra time to execute their projects due to slackening demand for commercial space.

SAIL,SCI to set up JV very soon

NEW DELHI: State-owned steel maker SAIL and Shipping Corporation of India today said they will set up a joint venture very soon that would provide shipping-related services to the former. We are making very good progress to set up the joint venture and hope it would be established very soon, Shipping Corporation of India SCI chairman S Hajara told reporters here.

Satyam case: Srinivas released by court

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HYDERABAD: In a setback to CBI,a city court on Wednesday rejected the investigating agency8217;s plea and ordered release of Talluri Srinivas,an accused in the multi-crore Satyam fraud case. Rejecting CBI objections,the additional chief metropolitan magistrate granted permission for immediate release of the former auditor of Pricewaterhouse Coopers from Chanchalguda jail,where he was lodged along with other Satyam accused.