·Future Retail plans to raise funds
Future Retail plans to raise up to Rs1500 crore through debt instruments to replace high cost loans and to invest on brand building and marketing. The company is seeking approval from its shareholders for the proposal of raising up to Rs1500 crore through issue of non-convertible debentures on private placement basis.
·SKS Micro rises on regulating and refinancing MFI
SKS Microfinance rose over 2%, touching to Rs466.2, after proposed Micro Units Development and Refinance Agency ( Mudra) Bank would be responsible for regulating and refinancing micro finance institutions ( MFI).New regulator takes out tail risk of interference by states in sector, which was a key overhang for the sector, according to reports.
·Coal India drops on quoting ex-dividend today
Shares of Coal India dipped 5% at Rs377.90 on the NSE after the stock turned ex- dividend for Rs20.70 per share today.The stock opened at Rs373.50 and touched a low of Rs373 on the BSE.
The board of directors of Coal India at its meeting held on February 27, 2015, had approved payment of interim dividend for the financial year 2014-15 @ Rs20.70 per share of the face value of Rs10.
·Nectar jumps on European GMP approval
Share of Nectar Life sciences jumped over 15%, touching to Rs40.3, after the company said it has received European GMP approval for its Cephalosporin active pharmaceutical ingredients manufacturing facility in Dera Bassi, Punjab.
·Nucleus announces global collaboration with Red Hat
Nucleus Software Exports announced a collaboration with Red Hat. The collaboration means Nucleus Software can offer banks and finance companies significant speed and cost benefits through a wider choice of technology platforms on which to run its market leading share.
·RBI committee suggests revised priority sector guidelines
RBI internal committee has come out with revised guidelines for lending to the priority sector, with loans to medium enterprises, sanitation and renewable energy sectors coming under the ambit of priority sector lending. Overall priority sector target is maintained at 40% and target for lending to the agriculture sector has also been retained at 18% of ANBC.
·Government to set up monetary policy panel for inflation targeting
India has formally adopted inflation targeting whereby the government and the RBI agreed to set a consumer inflation target of 4%, with a band of +/-2%, from the financial year ending in March 2017.
This new framework will decrease the uncertainty around the decision-making process and will fix accountability, hence positive for overall economy and banking sector.
·Bharti Airtel, China Mobile to collaborate
Top telecommunications carrier Bharti Airtel said it would collaborate with Mobile");'> China Mobile on growing fourth-generation ( 4G) mobile data services.
The two companies will also work on a joint strategy for procurement of 4G devices including smart phones, Bharti Airtel said.
·Posco, LG sign letters of intent to buy coal from Adani
Posco and LG have signed letters of intent to buy coal from Adani’s coal mine in Queensland, Australia- Positive for Adani Enterprise.As per media reports, Korean steel giant Posco and energy and electronics major LG have signed letters of intent (LoI) to buy five million and four million tonnes of coal, respectively, from the Adani Group's $16 billion Carmichael coal mine project in the Galilee basin in Queensland, Australia – Positive for Adani Enterprise
Future Retail plans to raise up to Rs1500 crore through debt instruments to replace high cost loans and to invest on brand building and marketing. The company is seeking approval from its shareholders for the proposal of raising up to Rs1500 crore through issue of non-convertible debentures on private placement basis.
·SKS Micro rises on regulating and refinancing MFI
SKS Microfinance rose over 2%, touching to Rs466.2, after proposed Micro Units Development and Refinance Agency ( Mudra) Bank would be responsible for regulating and refinancing micro finance institutions ( MFI).New regulator takes out tail risk of interference by states in sector, which was a key overhang for the sector, according to reports.
·Coal India drops on quoting ex-dividend today
Shares of Coal India dipped 5% at Rs377.90 on the NSE after the stock turned ex- dividend for Rs20.70 per share today.The stock opened at Rs373.50 and touched a low of Rs373 on the BSE.
The board of directors of Coal India at its meeting held on February 27, 2015, had approved payment of interim dividend for the financial year 2014-15 @ Rs20.70 per share of the face value of Rs10.
·Nectar jumps on European GMP approval
Share of Nectar Life sciences jumped over 15%, touching to Rs40.3, after the company said it has received European GMP approval for its Cephalosporin active pharmaceutical ingredients manufacturing facility in Dera Bassi, Punjab.
·Nucleus announces global collaboration with Red Hat
Nucleus Software Exports announced a collaboration with Red Hat. The collaboration means Nucleus Software can offer banks and finance companies significant speed and cost benefits through a wider choice of technology platforms on which to run its market leading share.
·RBI committee suggests revised priority sector guidelines
RBI internal committee has come out with revised guidelines for lending to the priority sector, with loans to medium enterprises, sanitation and renewable energy sectors coming under the ambit of priority sector lending. Overall priority sector target is maintained at 40% and target for lending to the agriculture sector has also been retained at 18% of ANBC.
·Government to set up monetary policy panel for inflation targeting
India has formally adopted inflation targeting whereby the government and the RBI agreed to set a consumer inflation target of 4%, with a band of +/-2%, from the financial year ending in March 2017.
This new framework will decrease the uncertainty around the decision-making process and will fix accountability, hence positive for overall economy and banking sector.
·Bharti Airtel, China Mobile to collaborate
Top telecommunications carrier Bharti Airtel said it would collaborate with Mobile");'> China Mobile on growing fourth-generation ( 4G) mobile data services.
The two companies will also work on a joint strategy for procurement of 4G devices including smart phones, Bharti Airtel said.
·Posco, LG sign letters of intent to buy coal from Adani
Posco and LG have signed letters of intent to buy coal from Adani’s coal mine in Queensland, Australia- Positive for Adani Enterprise.As per media reports, Korean steel giant Posco and energy and electronics major LG have signed letters of intent (LoI) to buy five million and four million tonnes of coal, respectively, from the Adani Group's $16 billion Carmichael coal mine project in the Galilee basin in Queensland, Australia – Positive for Adani Enterprise
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