IDBI to sell 5% stake in NSE
Posted on 19th December 2014 |
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| IDBI Bank will sell its entire 5% stake in country's leading stock exchange NSE in a transaction that may fetch the public-sector lender about Rs 1,000 crore. At the end of quarter ending September 2014, the public sector lender held early 23 lakh shares of the National Stock Exchange (NSE) representing a 5% stake in the bourse. The NSE commands a market value of nearly $3.5 billion (about Rs 21,000 crore) as per the previous transaction. This would peg the value of IDBI's 5% stake at more than Rs 1,000 crore. In public notice today, IDBI Bank has invited "expression of interest (EoI) for sale of equity shares up to 5% of the paid up equity share capital of the National Stock Exchange of India Ltd (NSEIL)". "This EoI is neither a prospectus nor an offer to the public for the sale of shares. IDBI Bank Ltd a client of IDBI Capital Market Services Ltd intends to sell the shares upto NSEIL," it added. Interested parties are to submit the EoI by January 20, 2015. As per the latest shareholding pattern, other major shareholders of NSE are -- Life Insurance Corporation (10.51%), State Bank of India (10.19%), IFCI (5.55%) and IDFC (5.33%). |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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