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Journalism of Courage
SBI base rate to be around 8 pc: Bhatt
New Delhi: The State Bank of India SBI has said that the proposed base rate for the bank seems to be around 8 per cent. Base rate at this point seems to the around 8 per cent for the bank, bank chairman OP Bhatt said on the sidelines of an AIMA event. The base rate,which is set to replace the existing Benchmark Prime Lending Rate concept,will be introduced from April 1. The new rate is being introduced to bring more transparency into the system and uniformity in the pricing of bank loans.
Lamp;T launches MF arm,hints at merger plan
Mumbai: Engineering and construction major Larsen amp; Toubro Limited Lamp;T on Monday indicated that the company would possibly go for a merger and IPO plan for its newly-launched and rebranded mutual fund company. We would look at a bigger and viable company for a merger plan. We may consider both merger and IPO plans at the right time, said a top official here.
HDIL inks deal with Future Group
Mumbai: Realty major,HDIL and the Kishore Biyani-led Future Group have agreed on a pre-lease for the entire retail space at Metropolis Tower in suburban Andheri. The project has over a million square feet mixed use development of which 10 per cent area has been leased to the Future Group,a press release stated.
HCL Tech inks 5-year pact with Electrolux
New Delhi: IT major HCL Technologies on Monday said it has signed a five-year IT infrastructure management contract with home appliances maker Electrolux. As part of the deal,HCL will support Electroluxs workplace services including proactive monitoring and management of network,servers,IT security and end-user computing environment in the Asia Pacific region,HCL Technologies said.
UBIs Rs 330 cr IPO to hit market today
New Delhi: Public sector lender United Bank of India UBI will hit the capital market tomorrow with an initial share sale offer to raise up to Rs 330 crore. The bank will come out with an initial public offer IPO of five crore shares,which will lead to a government stake dilution of about 15.8 per cent. The issue would close on February 25.
Nissans Chennai facility by March
Bangalore: Japanese car maker Nissan on Monday said it will open its manufacturing facility in Chennai developed jointly with Renault next month,from where it will roll out the latest generation of its compact car Micra for the Indian market. The facility will be inaugurated by the chairman and CEO of Renault-Nissan alliance on March 17, a company official said here on Monday.
Govt approves 12 FDI proposals
New Delhi: The government on Monday approved 12 FDI proposals worth over Rs 1,000 crore,including that of Walt Disney and Zee Entertainment Ltd.
