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Sunil Jain: Don't dial this merger
Sunil Jain / New Delhi July 27, 2009, 0:41 IST

Ministry mulls special SAIL arm for overseas buys
The Steel Ministry is planning to set up a special arm under Steel Authority of India (SAIL) to spearhead overseas acquisitions, particularly in the mining sector.

News of the day

Ministers' panel points to delay in GST launch
A high-powered group of state finance ministers today indicated that the proposed Goods and Services Tax (GST), which will consolidate indirect taxes, may not be introduced as scheduled from April 1, 2010.
Corporate

City Union Bank to raise Rs 300cr

City Union Bank will raise Rs 300 crore by way of private placement of shares with qualified institutional buyers. - Axis Bank announces Somnath Sengupta as ED, CFO - Banks wash off hands of delayed, faulty mobile, email alerts - India owes $82.5 billion to foreigners: RBI - Banking sector tops m-cap rankings - BoM slashes home loans interest rates - NCR to open 3,800 ATMs for SBI Shareholders of the bank in August had approved a proposal to raise Rs 300 crore by allotting shares to potential buyers, City Union Bank said in a filing to the Bombay Stock Exchange today. The proposed private placement would be completed within 12 months from the date of the resolution passed, the filing added. Shares of City Union Bank were trading at Rs 29.65 on the BSE, down 1.50 per cent from previous close.


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