Around the Globe

Around the Globe

Currency swap gain pegged at Rs 72,800 crore

The net gain after the note cull, according to top brokerage firm Motilal Oswal, is only Rs 72,800 crore — taxes, penalties worth Rs 32,800 crore and Rs 40,000 crore by way of surplus transfer from the Reserve Bank of India (RBI).

Cong, AAP letters row reveal tight Punjab contest

The Congress and Aam Admi Party (AAP) are locked in a letter row in Punjab. Two letters, which went viral on the social media, caused unrest and disquiet in the AAP and Congress camps.

AAP has lodged a complaint with the Election Commission (EC) over a letter, said to be written by its leader Sanjay Singh and addressed to party chief Arvind Kejriwal, saying the Congress was strong on 69 seats and requested the leaders to go slow on the campaign trail.

BSE IPO oversubscribed nearly 12 times

The initial public offer of BSE -- the first by a domestic stock exchange in India -- to raise up to Rs 1,243 crore was oversubscribed 11.85 times till afternoon trade on the last day of the offer today.

The IPO received bids for 12,80,04,066 shares against the total issue size of 1,07,99,039 shares, data available with the NSE till 1330 hrs showed.

BSE, the oldest stock exchange in Asia, aims to raise up to Rs 1,243 crore from the IPO, which has a price band of Rs 805-806 per share.

Tata Motors launches electric,hybrid buses priced up to Rs 2cr

Witn an aim to push green technology in mass public transportation vehicles in India, Tata Motors today launched a fully electric bus and a hybrid one, with indicative prices ranging between Rs 1.6 crore and Rs 2 crore.

The company, which is leader in the commercial vehicles space in the country with a market share of around 45 per cent, also showcased its LNG powered bus.

Tata Steel aims 20% revenue from service, solutions biz

Steel major Tata Steel is betting big on services and solutions business and aiming around 20 per cent of company's revenue from it in next few years.

"We are optimistic and aiming at 20 per cent of revenue from services and solutions. Currently, we are at around Rs 700 crore. We are gradually expanding solution products targeting end-users," Tata Steel sources told PTI.

The company is already in several solution products based on steel including doors, windows, modular housing, toilets and water ATMs etc.

Merc launches A & B Class Night Editions

Leading luxury car maker Mercedes-Benz kicked off the New Year by further strengthening its new generation cars portfolio by rolling out today the Night Editions of its popular A-Class and B-Class compacts.

While the petrol variants of both the cars are mounted on a 1.6-litre engine, the diesel variants come with a 2-litre engine.

Govt to 'carefully examine' CM panel's BCTT recommendations

Government will "carefully examine" recommendations of the high-powered chief ministers' panel for levying a Banking Cash Transaction Tax (BCTT) on cash deals of Rs 50,000 and above before taking a final view on it, the finance ministry said today.

Andhra Pradesh Chief Minister Chandrababu Naidu-headed committee of state chief ministers on digitisation submitted its interim report to Prime Minister Narendra Modi yesterday.

Facebook CEO Zuckerberg reconsiders process to get land

The chief executive officer of Facebook has said he is reconsidering trying to gain isolated pockets of land on his sprawling Hawaii estate through a law unique to the islands.

Mark Zuckerberg said in a statement that they were "reconsidering the quiet title process and discussing how to move forward."

He says they want to make sure they are following a process that protects the interests of property owners and respects the traditions of native Hawaiians. The story was first reported by the Honolulu Star-Advertiser.

CESC share price jumps amid firm division talk

Share prices of CESC, the power flagship of the Rs 17,000 crore RP Sanjiv Goenka Group, on Tuesday hit a new 52-week high, touching 735.60 in the wake of strong market rumours that the group might split its distribution and generation business into two separate companies. Market speculation suggested that the group would break up the two verticals and form two separate entities to unlock the value of the highly profitable distribution business.

Pension plan for seniors with 8% return

With interest rates headed downwards due to increased liquidity in the banking system post demonetisation, the government has decided to shield senior citizens who depend on interest income to sustain their lives.