LIC may propose 3-5 year time for IDBI Bank stake cut

LIC may propose 3-5 year time for IDBI Bank stake cut

New Delhi, March 17 (IANS) The country’s largest life insurer Life Insurance Corporation (LIC) may propose a timeline of 3-5 years for cutting down its stake in the recently acquired IDBI Bank to comply with insurance regulator Irdai’s norm of 15 per cent stake in a listed investee firm.

FIIs may drive markets to fresh highs

FIIs may drive markets to fresh highs

Mumbai, March 17 (IANS) Institutional investors, responsible for most of the trading in the financial markets are betting big on Indian markets, especially, banking stocks, which may drive major indices to fresh highs ahead of the polls.

BSNL’s total loss crossed Rs 90K cr: Kotak Equities

BSNL’s total loss crossed Rs 90K cr: Kotak Equities

New Delhi, March 15 (IANS) Kotak Institutional Equities (KIE) has said that state-run telecom firm BSNL’s accumulated losses may have crossed Rs 90,000 crore by December end, and asked the government to take a call on either to consider equity infusion to keep the telco afloat or shut it down and bear a one-time loss to save costs.

BSNL Finance Director replaced amid financial crisis

BSNL Finance Director replaced amid financial crisis

New Delhi, March 15 (IANS) Amidst the acute financial crisis at BSNL, the Department of Telecom (DoT) has handed over the responsibility of the Finance Director at the cash-strapped PSU to current Director Mobile as well as fixed line, Vivek Banzal divesting the charge from Sujata Ray.

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