IGI Logo

Key News

BEML privatisation: Panel to meet on Friday to finalise sale process

The inter-ministerial group (IMG) will meet on Friday to finalise the draft request for proposal (RFP) and share purchase agreement (SPA) for privatisation of BEML. The document will give the shortlisted bidders clarity on the liabilities they will have to take on board. The IMG chaired by secretary of the Department of Investment and Public Asset Management (Dipam) will finalise the draft RFP and SPA. The panel has secretary of the administrative ministry as co-chairman, secretary of department of public enterprises, legal affairs and department of economic affairs, among others.

Covid-19 pandemic: Consumers unwilling to visit malls, says survey

The severity of the Covid-19 pandemic may have impacted the consumers’ psyche as a large section of them are now unwilling to move out for shopping and leisure. The latest survey by LocalCircles shows that nearly 70 per cent of the consumers are unlikely to visit malls or go out for dining at restaurants in the next two months.

PE major Carlyle to sell 5.1% stake in SBI Cards on Friday

Private equity (PE) major Carlyle plans to offload 5.1 per cent take in SBI Cards and Payment Services on Friday. A total of 48 million shares of the credit card company will be on offer in the range between Rs 1,002 to Rs 1,041.3 per share--- a discount of 1 per cent and 4.7 per cent to last closing price of Rs 1,051.7. At the top-end, the share sale is worth Rs 4,998 crore. At the end of March quarter, Carlyle held 11.61 per cent stake in SBI Card. Carlyle couldn't be reached immediately for a comment.

No plans to reduce SAIL headcount: Pradhan to WB Finance Minister

Union Steel Minister Dharmendra Pradhan on Thursday said there are no plans to terminate any employee of state-owned SAIL or reduce its headcount. In a letter to West Bengal Finance Minister Amit Mitra, Pradhan also assured that SAIL will continue to take care of its employees. On Wednesday, Mitra had requested the steel minister to intervene and stop the dismantling of Raw Materials Division (RMD) of Steel Authority of India Limited (SAIL) in Kolkata, saying it would result in job losses amid the COVID-19 pandemic.

SBI to sell two NPA accounts next month to recover dues of Rs 60 cr

SBI has invited bids for two NPA accounts with outstanding dues of nearly Rs 60 crore. "In terms of the bank's policy on sale of financial assets, in line with the regulatory guidelines, we place these accounts for sale to ARCs/ banks/ NBFCs/ FIs, on the terms and conditions indicated there against," SBI said in a sale notice. The bank has put up for sale the accounts of N S Engineering Projects, with loan outstanding of Rs 36.98 crore, and Chinteshwar Steels Pvt Ltd, which owes Rs 22.72 crore to SBI.

Exploring windows to enhance shareholder value: Thyrocare Technologies

Amid reports that suggested Pharmeasy was looking to acquire a stake in A Velumani-led diagnostics player Thyrocare, the latter clarified to the stock exchanges on Thursday that it “keeps exploring” opportunities to enhance shareholder value. In a statement to the BSE, Thyrocare said, "The company during its normal course of business keeps exploring various opportunities to enhance shareholder value.“Earlier in the day, media reports suggested Pharmeasy, an online pharmacy, was looking to acquire Thyrocare Technologies for Rs 7,000 crore.

To Read Complete Report & Disclaimer Click Here

Above views are of the author and not of the website kindly read disclaimer