Briefly Business

Punjab & Sind Bank raises R300 cr from bonds

New Delhi: State-owned Punjab & Sind Bank (PSB) on Tuesday raised Rs 300 crore from bonds to fund business growth. The fund has been raised through unsecured redeemable subordinated Tier II bonds with a coupon rate of 9.73 per cent per annum,PSB informed the Bombay Stock Exchange.

Sony Ericsson appoints P Balaji as MD for India ops

New Delhi: Sony Ericsson on Tuesday announced the appointment of P Balaji as the managing director of the company’s India operations,effective from July 1.

Amul’s turnover crosses $2 billion mark

Ahmedabad: Gujarat Co-operative Milk Marketing Federation (GCMMF),which markets milk and dairy products under the brand ‘Amul’,has crossed the $2 billion turnover mark (Rs 9,774 crore) in 2010-11. The federation’s turnover grew at compounded annual growth rate (CAGR) of 23 per cent in the last four years,GCMMF said.

BSE to suspend trading in P M Telelinnks

Mumbai: The BSE has decided to suspend trading in securities of P M Telelinnks Ltd for non-compliance of clause 36 of the Listing Agreement.

TCS hits back at CLSA: No weakening in demand

Mumbai: IT firm TCS on Tuesday said it does not see weakening of demand in the overseas markets,contradicting brokerage firm CLSA’s report which has downgraded the country’s software services sector. “…on the matter of macro worries,we are not seeing any weakening of demand,” Tata Consultancy Services said in a communique to investors.

SBI credit growth may be 16-19% in FY’12: Chaudhuri

Hyderabad: State Bank of India chairman Pratip Chaudhuri on Tuesday said that the bank’s credit growth may be 16-19 per cent this fiscal,lower than earlier estimates,mainly on account of slowdown in demand for long term equipment finance because of high interest rates.

Rushil Decor price band at R63-72

Mumbai: Decorative laminated sheets manufacturer Rushil Decor Limited plans to raise around Rs 40 crore from the capital market at the upper end of the price band. The shares are being issued in the price band of Rs 63 to Rs 72.