SBI Card IPO overvalued at issue price of Rs 755: Experts

Mumbai (IANS) The much-anticipated SBI Card IPO has finally completed with an issue price of Rs 755 per share, however, market experts feel that the price is too expensive.

The SBI Card IPO demands around 46 times of the price of its latest…

Privatising BPCL: Govt seeks global bidders with $10 bn networth

New Delhi (IANS) The Union government has issued a Global Invite for Expression of Interest for disinvestment in Bharat Petroleum Corporation Limited (BPCL) from prospective bidders with a minimum net worth of $10 billion as of Saturday.

The…

GAIL's new gas transportation arm may get IOC pipeline asset

New Delhi (IANS) Government has proposed to create a larger and stronger gas transportation utility joining the entire pipeline infrastructure of GAIL and some of the infrastructure set up by other central and state PSUs - Indian Oil Corporation (IOC)…

115: 1,000 swap ratio for amalgamation of Indian Bank-Allahabad Bank

Chennai (IANS) Public sector Indian Bank on late Thursday announced a share swap ratio of 115 equity shares of Rs 10 each of Indian Bank for every 1,000 shares of Rs 10 each of Allahabad Bank.

As per the scheme, Allahabad Bank will be amalgamated…

Sensex plunges over 1,450 points, Nifty below 11,000

Mumbai (IANS) The Indian equity indices slumped on Friday morning, with the BSE Sensex falling over 1,450 points

The slump across the sectoral indices was led by the finance and banking stocks as the Reserve Bank of India on Thursday superseded…

No need to panic on Yes Bank: SBI chairman

New Delhi (IANS) SBI chairman Rajnish Kumar on Friday said there is no need to panic on account of developments in the Yes Bank.

"What's there to panic, no need to panic, all depositors are safe RBI governor has said also, just be patient,…

Govt seeks parliament nod for additional spending

New Delhi (IANS) The government on Friday sought Parliament's approval for an additional spending of Rs 54,000 crore to meet its commitments towards GST compensation to states and cover for enhanced dearness relief and pension needs of its employees.

ED files fresh money laundering case against Naresh Goyal

Mumbai (IANS) The Enforcement Directorate (ED) on Wednesday filed a fresh case of money laundering against Naresh Goyal, former chairman of the grounded Jet Airways, and the airlines.

A source said that the money laundering case was registered…

2 bank unions announce strike on March 27 opposing mergers

Chennai (IANS) Two major unions in the banking sector - All India Bank Employees' Association (AIBEA) and All India Bank Officers Association (AIBOA) will go on strike on March 27 opposing the mega bank mergers approved by the Union Cabinet on…

Ruias-led Essar committed to India's growth story

Mumbai (IANS) The Ruias-led Essar is committed to the India growth story after an aggressive debt reduction of Rs 1.4 lakh crore over last three years.

This is the message Ravi Ruia and Prashant Ruia have conveyed to banks and fund houses just…