Briefly Business

Reserve Bank deputy governor KC Chakrabarty said the chance of an interest rate hike by the central bank

RBI dy guv wont rule out pre-policy hike

Mumbai: Reserve Bank deputy governor KC Chakrabarty on Monday said the chance of an interest rate hike by the central bank is always there as policy measures depend on the changing economic scenario. The policy measures from the central bank will depend upon the changing economic environment8230; the possibility of rate hike is always there, Chakrabarty told reporters on the sidelines of a function here.

Govt to up stake in PSBs,says Gopalan

Mumbai: To facilitate fund-raising in the future,the government intends to increase its holding in those public sector banks in which it currently holds just over 50 per cent stake,a senior finance ministry official said here on Monday. We are looking at increasing government holding in those state-run banks where the government has just over 50 per cent holding. At some point of time in the future,if they want to raise capital,this will help them, financial services secretary R Gopalan said.

Aster Silicates IPO subscribed 4.47 times

New Delhi: The Rs 53-crore initial public offer from sodium silicate maker Aster Silicates generated good demand among investors and got subscribed 4.47 times,on the final day of the issue on Monday. The issue got total bids for 2.11 crore shares,against 47.41 lakh equities on offer,thereby getting subscribed 4.47 times,NSE data showed.

Cummins,partners to invest Rs 1,390 crore

New Delhi: Global engines major Cummins on Monday said it will invest 300 million about Rs 1,390 crore with local partners in India over the next five years to set up four facilities,including an engine unit. We will set up four facilities in Phaltan Maharashtra and the construction is underway. In the next five years,we will invest 300 million for development of these units, Cummins managing director India Area Business Organisation Anant Talaulicar said.

NHAI mobilises Rs 500 cr via bonds

Mumbai: The National Highways Authority of India NHAI on Monday said it has raised Rs 500 crore through bonds to fund its 9,000-km projects this fiscal. The authority needs Rs 7,000 crore for the execution of its target,NHAI member finance JN Singh said. Currently,we have raised Rs 500 crore through bonds. The rest we would raise through external commercial borrowings, Singh said.

Reliance strikes 7th find in Cambay basin

Mumbai: Reliance Industries RIL on Monday announced its seventh oil discovery in exploration block CB-ONN-2003/1 CB 10 Aamp;B,awarded under the NELP-V round of exploration bidding. The discovery is significant,as this play fairway is expected to open more oil pool areas leading to better hydrocarbon potential within the block, RIL said in a media release.