Eight of top-10 firms lose Rs 29K cr in m-cap last week The combined market capitalisation (m-cap) of eight of the country's top ten companies declined by Rs 29,221.44 crore in the last week, with the state-run NTPC bearing the maximum loss Shares of NTPC fell over four per cent, during the week, to close at Rs 203.45 as on Friday's trade on the Bombay Stock Exchange (BSE) During the week ended Friday, the BSE index Sensex fell by 1.82 per cent
Infosys declares 200 per cent interim dividend Infosys Technologies Ltd Friday declared 200 per cent interim dividend of Rs 10 per share and a whopping 300 per cent special dividend of Rs 30 per share of Rs 5 at par value for its 30th year. In a regulatory filing, the IT bellwether said the record date for the payment of dividend is Oct 22. "An interim dividend of Rs.10 per share and a 30th year special dividend of Rs.30 per share will be paid for all shareholders of the company as on Oct 22," the company said.
New generation kids transforming unorganised family businesses the octogenarian chairman of Oreva group, which makes Ajanta watches, CFL lights, electric bikes and mobile phones, has been living in the city for all of his life, but his grandsons Chintan and Nevil want the family to shift to Ahmedabad. where the first generation had set up business from scratch, their young buds are using this advantage as a springboard to break higher grounds. “These families are sending their kids for higher education, in India and abroad, not for the sake of an illustrious degree, but for specific education that enables them to understand their family business better.”
Finmin rejects RBI proposal on companies acquiring regional rural banks he finance ministry is not in favour of corporates acquiring dedicated rural lenders, regional rural banks, a suggestion mooted by the Reserve Bank of India in a recent discussion paper on new bank licences. “The disinvestment mandate is clear that we’ll not bring down the government stake in banks below 51%,” said a finance ministry official ruling out the proposal. he RBI had argued that this will give industrial and business houses an opportunity to prove their suitability for promoting banks and promote financial inclusion in underbanked areas.
SBI offering high returns on its bonds State Bank of India (SBI) has said that it is offering high returns on its bonds, as the bank expects interest rates to firm up. The bank has priced its forthcoming bond issue at 9.25% for 10 years and 9.50% for 15 years. The returns on its 10-year bonds are almost two percentage points more than what the bank offers on five-year deposits and 123 basis point above the yield on government bonds of equivalent maturity On the rational for raising long-term bonds, Mr Bhatt said, “Our term lending is in excess of 50% of our consumer loan book and there is a need to get some specific long-term liquidity in place.”
SKS Microfinance shares dip about 9% after AP govt ordinance Shares of SKS Microfinance , the only listed microfinance entity in the country, on Friday plunged by about 9 per cent on concerns that microfinance sector may come under tight government regulations SKS Microfinance, founded by VikramAkula -- who is also the Executive Chairman of the firm--is headquartered at Hyderabad n a recent report on MFIs, brokerage house Indiabulls Securities had said that the business of MFIs was likely to come under regulatory or judicial intervention, considering the socio-political sensitivity to rural lending