Oil twins offer rich dividends
New Delhi, Dec. 26: Indian Oil Corporation (IOC) today declared an interim dividend of 50 per cent (Rs 5 per share) amounting to Rs 584 crore for the current financial year. BPCL has also declared a 60 per cent interim dividend, amounting to a total payout of Rs 180 crore. The interim dividend from the cash-rich oil companies is part of the governmentís policy to mop up resources for bridging the nationís yawning fiscal deficit.
New Delhi, Dec. 26: Finance minister Jaswant Singh today cleared 30 foreign direct investment (FDI) proposals worth Rs 1,100 crore, including that of Gabriel Trade & Investment Company's plans to set up a wholly-owned arm for Rs 900 crore.
Mumbai, Dec. 26: Canara Bank has announced a benchmark prime lending rate of 10.75 per cent, less than the existing rate of 11 per cent, effective January 1. The bank has declared an interim dividend of 25 per cent, which is subject to regulatory and statutory approvals.
Auto sales up
New Delhi, Dec. 26: Commercial automobile sales grew 34.6 per cent in April-November. A total of 1.53 lakh buses and trucks were sold in the reported period against 1.14 lakh units in the same period last year, according to the Society of Indian Automobile Manufacturers.
Calcutta, Dec. 26: To prevent an indefinite strike in the jute industry from December 29, the Bengal government will convene another tripartite meeting to plead with Citu and Intuc-led 15 unions.