Tata Power inks pact to sell EEPL for $11 mn


According to the statement this transaction is expected to be completed by March 31, 2019.   New Delhi: Tata Power Monday said its arm Coastal Gujarat Power inked a share sale pact to sell its 100 percent stake in Energy Eastern to Trust Energy Resources for USD 10.19 million. “Coastal Gujarat Power Limited (CGPL), a wholly owned subsidiary of the ...

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DLF launches QIP to raise over Rs 3,000 crore


According to a regulatory filing, DLF has launched its QIP on Monday and the floor price has been fixed at Rs 193.01 per equity share. New Delhi: Realty major DLF Monday launched its QIP offer to raise over Rs 3,000 crore by selling 17.3 crore equity shares to qualified institutional investors. With an aim to become a debt-free company, DLF ...

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Markets open in green, Asian shares bounce back

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Foreign portfolio investors  bought equities worth a net Rs 150.40 crore.   New Delhi: Markets opened on a positive note on Tuesday as Asian shares bounced back. The benchmark BSE Sensex recovered 115.87 points or 0.31 percent to 37,924.78 in early trade while the Nifty was back at 11,400. Major gainers in the Sensex pack were ICICI Bank, Vedanta, SBI, ...

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Mutual funds: Sebi modifies norms on commissions, disclosures


The commission will be paid from an AMC’s books and only the first SIP purchased by the new investor will be eligible for upfronting.   New Delhi: Markets regulator Sebi Monday announced changes in norms related to payment of commissions and disclosures for the mutual fund industry. Changes have been made to various circulars issued earlier, including the circular issued ...

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Irdai asks insures for easy crop insurance claim settlement, use of vernacular language


Irdai, in a circular, said there is a need for effective implementation of crop insurance schemes.   New Delhi: The general insurers will have to provide details about crop insurance claims to farmers in vernacular languages, apart from Hindi and English, regulator Irdai has said. The Insurance Regulatory and Development Authority of India (Irdai) said it has been receiving various ...

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Guatemala drags India to WTO’s dispute mechanism over sugar subsidies


Guatemala has sought consultations with India under the rules and procedures governing the settlement of disputes of the Geneva-based 164-member WTO.   New Delhi: After Brazil and Australia, Central American country Guatemala Monday dragged India into the World Trade Organisation’s (WTO) dispute settlement mechanism alleging that New Delhi’s sugar subsidies to farmers are inconsistent with global trade rules. Guatemala has ...

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India plans to seek deadline extension from US for withdrawal of GSP export benefits


Sources also said that issues can be sorted by holding bilateral dialogues as the US is important economic and strategic partner of India.   New Delhi: India is considering to seek extension of the deadline set by the US for withdrawal of export benefits to domestic exporters under Generalized System of Preferences (GSP) programme, sources said. Earlier this month, the ...

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Job creation dips 6.9% in Jan to 11.23 lakh: ESIC payroll data


During September 2017 to January 2019, as many as 2.08 crore new subscribers joined the ESIC scheme, the data showed.   New Delhi: Job creation fell by 6.91 percent in January to 11.23 lakh compared to 12.06 lakh in the same month last year, according to payroll data of the Employees State Insurance Corporation (ESIC) released Monday. During September 2017 ...

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