Skip to main content

News - IFCI

IFCI may get Rs 1,300 cr from govt, if needed (Business Standard 14th Dec 2007) Clearing the air of confusion, IFCI today said the government will provide Rs 1,300 crore assistance this year to the institution in case there is a need. The statement assumes importance as IFCI is in the last leg of induction of a strategic investor by offering a 26 per cent stake. There were doubts that government may not keep its promise after IFCI started the process to induct an investor. The prospective investors are likely to put in their financial bids tomorrow and the IFCI board will consider the bids on December 17. In 2002-03, the government sanctioned a restructuring package of Rs 5,220 crore to IFCI, which was then experiencing high level of non-performing assets, to service its future liabilities
Labels:

Comments

Post a Comment

Popular posts from this blog

Jyoti Structures bags Rs 253 cr worth orders

Jyoti Structures on Tuesday said it has bagged two orders worth Rs 253 crore from Uganda Electricity Transmission Company Ltd and Eskom Enterprises (Pty) Ltd for construction of transmission lines. The company has bagged Rs 160-crore order from Uganda Electricity Transmission Company Ltd for construction of transmission lines and sub-stations. Besides, the company's joint venture company Jyoti Structures Africa (Pty) Ltd has bagged a contract for Eskom Enterprises (Pty) Ltd, the electricity utility of South Africa for construction of transmission line. The scope of the order from Uganda Electricity Transmission Company includes supply and erection of Bujagali Interconnection Project, the manufacturer of transmission line towers informed the Bombay Stock Exchange. The contract valued at around $39.64 million (Rs 160 crore) is to be executed in 24 months, the company said, adding the company would construct 220 kV and 132 kV transmission lines and substations.
Post a Comment
Read more

Company News

ITI Ltd seeks Rs2,000 crore aid from government (Live mint.com 26th Dec 2007) The funds are being sought to wipe out accumulated losses of Rs2,225 crore and to obtain working capital for telecom equipment manufacturing. According to a company official who did not wish to be named, a committee has been set up by the Centre to finalize the package. More
Post a Comment
Read more

Inflation hits 42-week high of 7.57%

Inflation rose to a 42-week high of 7.57 per cent in the 12 months to April 19, higher than the previous week’s annual rise of 7.33 per cent, largely on account of an increase in food, metal products and industrial fuel prices, official data showed. Analysts said that the inflation of 7.57 per cent was “slightly higher” than their expectations and this could be due to price increase in tea and certain items in the steel group. India’s wholesale price index (WPI) based inflation now stood highest since November 13, 2004, when it was 7.68 per cent. Economists expressed confidence that the recent fiscal and monetary measures would yield results in the coming weeks. They, however, noted that inflation was unlikely to return to the comfort zone of the Reserve Bank of India any time this fiscal. “There could be some easing of food inflation given the good wheat production and likelihood of good monsoon. I see some temporary relief on food side. But commodities are tough to predict. The infla...
Post a Comment
Read more