Briefly Business

India Inc raised Rs 13,938 crore through 26 public and rights issues in the first five months of the 2010-11 financial year.

Cos raise Rs 13,938 cr from primary mkts
Mumbai: India Inc raised Rs 13,938 crore through 26 public and rights issues in the first five months of the 2010-11 financial year,compared to Rs 11,921 crore from 15 offers during the April-August period of the previous fiscal,according to SEBI. Out of Rs 13,938.80 crore,Rs 9,668.40 crore was mobilised through 16 initial public offers,while the mop-up from the lone follow-on public offer FPO was Rs 959.40 crore.

Managing inflation biggest challenge: FM
New Delhi: Expressing concern over rising prices,Finance Minister Pranab Mukherjee has said managing inflation has been one of his biggest challenges,as increasing cost of essential goods hit poor the most. 8220;One of my biggest challenges is to control inflation but at the same time,I should not stand in the way of higher growth trajectory. It is a difficult challenge for any finance minister8221;,he said in an interview to 8220;India Today8221; magazine.

Mahindra Satyam delisted from NYSE
Mumbai: Mahindra Satyam8217;s American Depository Receipts ADR were delisted from the New York Stock Exchange NYSE on Thursday after the company expressed its inability to comply with US securities rules. The company8217;s ADRs have been delisted from the NYSE and will now only be available for trade in the over-the-counter OTC market,Mahindra Satyam formerly known as Satyam Computer said in a filing to the Bombay Stock Exchange.

TRAI to rework tariffs,seeks views
New Delhi: Telecom regulator TRAI today initiated an exercise to rework telecom tariffs for mobile as well as basic services,a move that may further bring down charges,especially in the long distance segment. TRAI8217;s initiative assumes significance in the wake of rising number of promotional offers and increasing competition in the telecom market. It has received representations from consumers against the multiplicity of plans in the market,leading to confusion among consumers.

GCPL board okays merger of GHPL
New Delhi: Godrej Consumer Products GCPL on Thursday said its board has approved the merger of Godrej Household Products Limited GHPL with itself. The company said the merger subsequent to GCPL8217;s acquisition of 51 per cent stake in Godrej Sara Lee GSLL from erstwhile partner Sara Lee Corp,will be applicable with retrospective effective from April 1,2010.

Trident,Gurgaon rated leading hotel
New Delhi: Trident,Gurgaon,part of EIH Ltd,has been voted Asias Leading Luxury Hotel for the second consecutive year at the World Travel Award. This year,1.85 lakh travel professionals across the world participated in an online poll to decide the winners who were announced at the World Travel Awards 17th Annual Ceremony.