DLF in cash chase
Posted on 15th July 2015 |
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| New Delhi, July 14 (PTI): Realty major DLF is likely to raise about Rs 2,500-3,000 crore by next month via private equity and is in talks with the Singapore government's investment arm GIC to sell stake in a new housing project here. According to market sources, the company is in an advanced stage of talks with sovereign wealth fund GIC to sell up to a 49 per cent stake in the new residential project in the national capital. The deal is expected to close in the next one month. DLF is planning to launch a new residential project spread over 20-25 acres near Moti Nagar, adjacent to its existing housing project "Capital Greens". The regulatory approvals are in place to launch this project, comprising about 3,000 apartments, sources said. When contacted, the company's spokesperson said, "We do not comment on market speculation." In August 2007, DLF had bought 38 acres of land from DCM Shriram Consolidated and Lohia Group for Rs 1,675 crore. On about 30 acres, the company is developing its housing project Capital Greens having 2,800 flats. In February this year, DLF announced that it would raise over Rs 3,000 crore through divestment or joint ventures in certain projects as part of its strategy to improve cash flow and reduce debt. |
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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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