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Weekly News

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  • 1. India on the verge of double digit growth: KV Kamath • Huge level of optimism around business in many sectors • Growth well over 10% at this point of time • This sort of growth will need a huge amount of human resource in business and that to run this economy at this pace
  • 2. B M Munjal family retains rights to Hero Group • The family led by B M Munjal and his sons, owners of the Indian promoter's stake in Hero Honda, will be officially known as the Hero Group, following the division of the $4.2 billion group • After the settlement, Hero Honda, Hero Corporate Services , Rockman Cycles Industries , Hero Mindmine Institute, Easy Bill and Hero Management Service have gone to family of B M Munjal
  • 3. Air India further advances bonus payment • Air India announced further advancement of the date of payment of allowances to its 29,000 employees • It had earlier notified the deferment of payment of flying allowances and productivity-linked incentives (PLI) by a fortnight • The salaries and other productivity-link incentives' flying allowances of the NACIL employees will now be paid on Nov 1
  • 4. Sterlite to invest over Rs 3k cr more on Punjab power project • Vedanta Group firm Sterlite Energy has revised the outlay for its proposed power project in Punjab upwards by over Rs 3,000 crore, taking the total investment commitment to around Rs 13,000 crore • The diversified metal group will now invest over Rs 13,000 crore on the Talwandi Sabo project in the state, making the new 2,640- MW project the single largest investment by Vedanta in the domestic power sector
  • 5. Coal India IPO likely at Rs 245 per share • The Indian government is likely to price state run Coal India's initial public offering at 245 rupees per share, at the top end of the price range • Coal India's IPO, was subscribed more than 15 times by close on Thursday, with most bids at the top end of the 225 to 245 rupees price range • India will raise roughly $3.5 billion for the sale of a 10 percent stake in Coal India, the world's largest coal miner
  • 6. Coal India IPO likely at Rs 245 per share • The Indian government is likely to price state run Coal India's initial public offering at 245 rupees per share, at the top end of the price range • Coal India's IPO, was subscribed more than 15 times by close on Thursday, with most bids at the top end of the 225 to 245 rupees price range • India will raise roughly $3.5 billion for the sale of a 10 percent stake in Coal India, the world's largest coal miner