Briefly Business

Toyota to start normal production by May 20

new delhi: Toyota on Monday said it will resume normal production in India from May 20 after being compelled to slash output by 70 per cent since April 25 due to component supply constraints following the devastating earthquake and tsunami in Japan.

HSBC India raises base rate to 9 per cent

Mumbai: Banking major HSBC India on Monday said it has hiked its base rate to 9 per cent per annum from 8.5 per cent per annum with effect from May 12. The bank has also raised its retail lending rate by 0.50 per cent to 16.25 per cent per annum from 15.75 per cent per annum with effect from the same date.

GoM on Cairn-Vedanta to meet after deadline

new delhi: A ministerial panel is likely to meet on May 27 to consider Cairn Energy Plcs sale of a majority stake in its Indian unit to Vedanta Resources,a full seven days after the current deadline for closing the deal expires. Cairn and Vedanta have set May 20 as the deadline for closing the 9.6 billion transaction.

Dena Bank ups interest rates on deposits

Mumbai: Public sector Dena Bank on Tuesday said it has upped interest rates on select tenures of its domestic term deposits by up to 0.50 per cent. For a maturity period of 366 days to less than two years,the bank has increased deposit rates by 0.25 per cent,from 9 to 9.25 per cent.

SAIL FPO likely by June 14

new delhi: The much awaited Rs 8,000 crore follow-on public offer of state-run SAIL is likely to hit the capital markets by around June 14,while the steelmaker would file the prospectus for the issue by the end of this month.

PFC FPO issue price fixed at Rs 203/share

new delhi: The government on Tuesday fixed the issue price for the follow-on public offer of state-run Power Finance Corporation at Rs 203 per share,which is expected to fetch close to Rs 4,700 crore.