Weak investor appetite likely to derail govt's fund-raising plans

The selloff in equities threatens to derail government's plans to raise Rs 40,000 crore this fiscal through share sales in state-owned companies.



Comments

Post a Comment

Popular posts from this blog

India Infoline's Q3 net profit up 12.7 pc at Rs 67 cr

MUMBAI: Brokerage firm India Infoline today said its consolidated net profit after tax and minority interests grew 12.70 per cent to Rs 67.06 crore for the third quarter ended December 31, 2010, over the corresponding period a year ago. The group had a consolidated net profit from ordinary activities after tax and minority interests at Rs 10.77 crore for the same quarter last fiscal, India Infoline Limited said in a filing with the National Stock Exchange. Total income of the group increased to Rs 459.58 crore for the quarter under review from Rs 289.58 crore for the same period previous fiscal. For the nine-month period ended December 31, 2010, consolidated net profit from ordinary activities after tax and minority interests declined to Rs 164.34 crore from Rs 169.21 crore in the same period previous year. Consolidated total income ros
Keep reading

Ambuja Cements Q3 net rises 7%

MUMBAI: Ambuja Cements, India's third largest cement maker, managed to report 7% growth in net profit at 258 crore for the quarter ended December despite lower cement prices, rising cost pressure, and logistics-related issues at two of its units in north India. The Holcim Group company on Thursday reported a 2.2% growth in net sales for the quarter at 1,827 crore. For the year ended December 2010, the 25-million-tonne cement maker reported net profit of 1,264 crore, up 3.8%. Net sales rose 4.4% to 7,390 crore. During the year, the company's cement sales volume rose 6.4% to 20 million tonnes but net realisation fell, putting pressure on operating margins, analysts said. For the year, earnings before interest, tax, depreciation and amortisation fell 1.1% to 1,951 crore. In 2010, Ambuja's net realisation fell 2% to Rs 3,695 per tonne, while realisation during October-December fell 1% to 3,54
Keep reading

Posco looking to set up steel plant in Karnataka

BIJAPUR: Korean steel major Posco is in talks with Karnataka to set up a 6-million tonnes per annum plant at an estimated investment of Rs 32,000 crore, after plans for a unit in Orissa got stalled over environmental issues, State Industries Minister Murugesh Nirani said today. The firm has identified three potential sites -- at Gadag, Bijapur and Bagalkot -- for the project, he told reporters here today. The firm has already deposited Rs 60 crore with the Karnataka Industrial Area Development Board (KIADB) for acquisition of the land required for the project, he said. He said there was no opposition from farmers over acquisition of their land for industrial purposes. On an unrelated note, Nirani said the district will soon get a government-sponsored Tools and Training Centre , for which Rs 5 crore ha
Keep reading