Companies and Markets

Companies & Markets

Kumaraswamy springs poll surprise with cab service

HD Kumaraswamy, Janata Dal (S) president and former chief minister of Karnataka, has kicked off his election campaign by launching Namma TYGR, a ride-hailing cab service, here on Wednesday. The

225-member assembly may go to polls in April next year.

Consolidation essential for Tata: Chandra

Stating that there is “some truth” in the criticism that Tata group is too widespread, its chief N Chandrasekaran has said some level of consolidation is essential for the over $100 billion conglomerate.

CENTRE TO DIRECTLY ISSUE Rs 1.35L CR RECAP BONDS

The government is likely to issue Rs 1.35 lakh crore recapitalisation bonds directly to banks as other options like creating a holding company for this purpose have not found favour with the finance ministry.

Irdai approves PE investment of over 10% in insurance firms

The insurance regulator Irdai would soon allow private equity (PE) players wanting to enter the sector as promoters. There will be a few conditionalities in the way such as a shareholding lock-in of five years, entry through a special purpose vehicle (SPV) and satisfying the Indian-owned and controlled guidelines of the insurance regulator.

Upstream oil regulator may get statutory powers

Continuing with its reform initiatives for the oil and gas sector, the government may now arm the office of upstream regulator Directorate General of Hydrocarbons (DGH) with statutory powers. This will be in conjunction with it carving out a specialist wing under the oil ministry for assisting it in administration of

contracts.

Sources privy to the development said that the move is being considered to prevent a clash of interest in the regulatory operations of DGH.

Ease procurement norms from SMEs, PSUs ask govt

Finding it difficult to source 20 per cent of goods and services from small and medium enterprises (SMEs), some central public sector undertakings (PSUs) have asked the government to relax the mandatory norms.

The senior management of these companies is concerned over slippage of the annual procurement targets as this will result in lower rating by the ministry of micro, small & medium enterprises (MSME).

Bharat 22 ETF makes stellar debut as CPSE stocks shine

With the Bharat 22 ETF making a stellar debut on bourses, PSU stocks continue to be in the limelight.

Bharat 22 ETF — a well-diversified exchange traded fund (ETF) with a unique basket of top CPSEs, public sector banks and government-owned shares in blue chip private companies like Larsen & Toubro (L&T), Axis Bank and ITC — saw huge buying interest post listing on Tuesday.

PM invites global entrepreneurs to invest in India

Hard selling his government's reforms, Prime Minister Narendra Modi today invited global entrepreneurs to come to India saying that it provides an investment friendly environment where restrictions have been removed and archaic laws abolished.

L&T expects asset sales by March to fuel IT buying spree

Larsen & Tou-bro, the country’s largest engineering and construction group, said it expects to sell its electrical unit and spin out its road assets trust by March 2018, a sign funding for plans to acquire more companies in information technology will soon be in place.

Goldman Sachs sees Nifty at 11,600 by December ‘18

The global financial major Goldman Sachs is bullish on the Indian market keeping an “overweight” view while setting its one-year Nifty target at 11,600.

Andrew Tilton, chief Asia-Pacific economist for Goldman Sachs Group Inc, told reporters here on Monday that, “Nifty is estimated to hit 11,600 by December 2018 from the current levels with earnings growth to be the key propellant”. He also said the market is likely to generate 18 per cent returns in 2018 helped by the bank recapitalisation, which could also lower borrowing costs due to competition. 

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