GMR to invest Rs 80 crore in ING Vysya Insurance
Mumbai: GMR Technologies and Industries Ltd, the Hyderabad-based Rs 161-crore flagship of the over Rs 2,000-crore GMR group, has decided to invest funds to the tune of Rs 80 crore in ING Vysya Insurance.
Back to News Review index page  

Jalan hopeful of 6.5% growth in economy
Mumbai: Reserve Bank of India governor Dr Bimal Jalan has said the economy could register a growth of six to 6.5 per cent for 2002-03 on the back of a good monsoon, well in line with the projections made by the central bank earlier.
Back to News Review index page  
Reliance Infocom plans major foray into ATM networks
Mumbai: Reliance Infocom is drawing up plans for a big-time foray into the automated teller-machine market space. The company, sources say, intends to set up ATMs for banks as well as offer switching and connectivity between networks.
Back to News Review index page  

FIs, banks to chip in Rs 50,000 cr for infrastructure
Mumbai: Financial institutions and banks have agreed to provide about Rs 50,000 crore in the next five years towards infrastructure project financing.
Back to News Review index page  

Treasury income drives bank profits in 2001-02
New Delhi: Though the net profits of the 19 nationalised banks grew at an average 131.87 per cent in the last fiscal, the higher figures are attributable largely to the profits made on their treasury operations.
Back to News Review index page  
ICICI Bank to focus on cross-selling retail products
Mumbai: Targeting a rapid expansion of its retail portfolio, ICICI Bank is opting for extensive data-mining, packaging the products with additional incentives and double its distribution network for cross-selling of various loan products in 2002-03.
Back to News Review index page  
IFCI sets up ARC, in talks to bring banks on board
New Delhi: The beleaguered Delhi-based Industrial Finance Corporation of India, has set up an asset reconstruction company called Assets Care Enterprise Ltd, with an authorised capital of Rs 20 crore.
Back to News Review index page  
UTI, Uco, UBI wont need bailout: FM
New Delhi: The government has said there is no need to infuse fresh capital in the erstwhile weak banks as they have turned around last fiscal and expressed satisfaction at the 132 per cent growth in profits of 19 public sector banks.
Back to News Review index page  
IL&FS to get $155-m to fund infrastructure projects
New Delhi: The Infrastructure Leasing and Financial Services Ltd is expected to secure a multilateral line of credit facility amounting to $155 million with a specific mandate to finance infrastructure projects.
Back to News Review index page  

FIIs, banks consider SPVs for infrastructure
Mumbai: Financial institutions and banks are considering to set up special purpose vehicles (SPVs) to fund infrastructure projects worth close to Rs 50,000 crore over the next four to five years.
Back to News Review index page  
i-flex issue price fixed at Rs 530
Mumbai: i-flex Solutions Ltd has fixed the issue price at Rs 530 for Rs 5 face value share. The issue price is the same as the base price fixed for book-building. The issue has been oversubscribed 2.72 times.
Back to News Review index page  
Alliance may gain from Wimco buyout
Mumbai: Alliance Capital Mutual Fund acquired around 10.77 lakh shares of safety match manufacturer Wimco during May. These shares have been bought for its Alliance Equity Fund. As on May 31, the fund shows a market value of Rs 3.05 crore.
Back to News Review index page  
Narrow movement on the bourses
Mumbai: Thursdays trading activity witnessed narrow movement. Bulls managed to gain marginally from the day's trading. The market sentiment reading of the tradable counters continues to remain bullish.
Back to News Review index page  
Bank stocks gain on consolidation hopes
Mumbai: Second-rung stocks of most sectors have been lately attracting buying interest in the stock markets. This time, it is the turn of banking stocks.
Back to News Review index page  
VisualSoft moves up on acquisition news
Mumbai: Visualsoft Technologies jumped almost 7 per cent on the bourses on market talk of a possible acquisition of orders by the company in the third generation telecommunication domain.
Back to News Review index page  
Heavyweights suffer; Tata Engineering drives on
Mumbai: For the second consecutive trading session, stocks of large capitalisation companies recorded losses. This pulled down both narrow indices such as the BSE Sensex, NSE S&P CNX Nifty and broad-based indices such as BSE-200 and S&P CNX 500.
Back to News Review index page