Money 038; Economy

One of the key insights of the study Indias Top PSUs 2010,whose third edition has just been released by Dun amp; Bradstreet...

PSUs dealt with slowdown better

One of the key insights of the study Indias Top PSUs 2010,whose third edition has just been released by Dun amp; Bradstreet,a provider of business information,is that PSUs dealt with the recent slowdown in the economy much better that their private-sector counterparts. This is evident from the strong growth in sales clocked by PSUs,even as the private sector witnessed a fall in growth rates. In fact,PSUs grew at a higher pace in FY09 compared to the previous year, says Yashika Singh,head-economic analysis,Dun amp; Bradstreet India. She further adds: The study presents many interesting insights. For example,research and development Ramp;D expenditure by the 30 PSUs that form part of this study has been increasing at a higher rate than that of private-sector companies. While this is a recent phenomenon 8211; just in FY 08 and 09 8211; it is a clear indication of the emphasis that these companies are now laying on Ramp;D.

Rs 1,18,947 crore raised

The first nine months of the current fiscal witnessed mobilisation through private placement of bonds worth Rs 1,18,947 crore. This amount was mobilised by only a handful of 143 institutions and corporates,according to Prime Database. Only deals that have a tenure of more than one year and put/call option are reflected in this database. The raising of Rs 1,18.947 crore during the April-December period meant a decrease of 6 per cent compared to the Rs 1,27,285 crore mobilised in the corresponding period of the previous year, says Prithvi Haldea,founder chairman and managing director,Prime Database.

IDBI Banks portfolio investment scheme for NRIs and PIOs

IDBI Bank has launched a Portfolio Investment Scheme PIS,a product that will enable NRIs and PIOs to invest in Indias secondary capital market. The product will be available to existing customers of IDBI Bank and also to other NRIs at designated branches of IDBI Bank across the country. IDBI Bank is one of the few banks to offer this service. Said C.S Jain,head-personal banking group,IDBI Bank: The launch of the scheme complements the existing bouquet of products and services being offered by the bank to its NRI clientele. Added Debashish Mallick,chief general manager: The bank will offer the product to NRIs and PIOs on both online and offline modes.