• Sun, Dec 16, 2018
  • State-owned Indian Oil Corp on Thursday announced a buyback of 3.06 per cent equity shares at a price of Rs 149 per stock for a consideration not exceeding Rs 4,435 crore.
    Indian Oil to buy back shares for Rs 4,435 crore
    The buyback decision was taken by the company’s Board in its meeting held during this week. “Buyback of equity shares of the company not exceeding 29,76,51,006 equity shares being approximately 3.06 per cent of the total paid up equity share capital of the company at a price of Rs 149 per equity share payable in cash for an aggregate consideration not exceeding Rs 4,435 crore...,” the company said in a regulatory filing. “The public announcement setting out the process, timelines and other requisite details will be released in due course in accordance with the Buyback Regulations.” In another development, the company’s Board declared an interim dividend of 67.5 per cent “i.e. Rs 6.75 per equity share of face value of Rs 10 each for the financial year 2018-19”. “The dividend will be credited to the account of the shareholders or the...
  • Ramco Cements greenfield plant to be set up for Rs 1,500 cr in Andhra Pradesh Ramco Cements greenfield plant to be set up for Rs 1,500 cr in Andhra Pradesh

    City-based Ramco Cements laid the foundation stone for its 3.15 MTPA greenfield plant in Kurnool district of Andhra Pradesh, with an investment outlay of around Rs 1,500 cr.

  • Cut government mandates on PSBs, not just privatise: Raghuram Cut government mandates on PSBs, not just privatise: Raghuram

    The banking system is overburdened with non-performing loans and there is a need to adequately professionalise boards of PSBs, Rajan said adding the government should do away with board appointments...

  • India needs robust financial system, says academician India needs robust financial system, says academician

    “The country needs a robust financial system as part of creating a strong economic base in the wake of digital transformation happening everywhere”, said Dr Anantha Nageswaran, Dean, IFMR Graduate...

  • IBM: India to create innovative global AI models IBM: India to create innovative global AI models

    India is at the forefront of the Artificial Intelligence (AI) surge and next year will see more local innovations from the country with broader adoptions across various sectors globally, a top IBM...

  • Luxury paves way for affordable housing Luxury paves way for affordable housing

    Updated: Dec, 15, 201808:10 AM

    While there was a total decline of 41 per cent in the overall new housing supply in 2017 from the preceding year, luxury properties priced over Rs 1.5 crore saw the maximum fall of a staggering 49 per...

  • India leads in flexible space markets across APAC-CBRE India leads in flexible space markets across APAC-CBRE

    Updated: Dec, 15, 201808:10 AM

    CBRE South Asia Pvt Ltd – India’s leading real estate consulting firm – on Thursday announced the findings of its latest report titled ‘Flexible Space’ Tenant Survey – 2018.

  • Cooperativism to be new-age avatar of Capitalism Cooperativism to be new-age avatar of Capitalism

    Updated: Dec, 15, 201808:19 AM

    In this segment, we look at business-themed documentaries, biopics,podcasts and TedTalks that are worth your time in the weekend.

  • Exports up 0.8 per cent in November, trade deficit widens to USD 16.6 bn Exports up 0.8 per cent in November, trade deficit widens to USD 16.6 bn

    India's exports grew by a meagre 0.80 per cent to USD 26.5 billion in November, mainly due to a high base effect, even as the trade deficit widened to USD 16.67 billion, according to commerce ministry...

  • Rupee skids 22 paise to 71.90 against US dollar Rupee skids 22 paise to 71.90 against US dollar

    The rupee declined by 22 paise to close at 71.90 against the US dollar amid strengthening of the greenback and cautious trading in the domestic equity market.