FIIs net buyers in equity

Mumbai, Aug. 7: Foreign institutional investors recorded net purchases in equities at Rs 2,737.5 crore ($629.4 million) for the trading week ended August 5, while mutual funds emerged as net purchasers at Rs 281.2 crore. Foreign funds were net sellers in the debt market at Rs 214.2 crore ($49.2 million) for the period under review, according to the data available with the Securities and Exchange Board of India. Mutual funds were net purchasers in the debt market at Rs 1,626.95 crore.

Companies Act

New Delhi, Aug. 7: The government is examining the Irani committee report on the Companies Act and denied any differences with the Sebi on the crucial issue of appointing independent directors on the board of listed firms as part of corporate governance norms. ?There is no difference of opinion between the government and the Sebi on the issue of independent directors,? said company affairs minister P.C. Gupta

BoI move

Mumbai, Aug. 7: A merger of Bank of India?s 16 regional rural banks into five entities is on cards. ?The bank has 16 RRBs in five states and we are exploring a state-wise merger of these into five RRB entities,? said M. Balachandran, CMD of Bank of India.

Concor cargo

Mumbai, Aug. 7: Container Corporation of India Ltd (Concor) will launch barge operations to clear the container backlog at Jawaharlal Nehru Port Trust as the rail link to the port has been damaged due to floods in Maharashtra.

Sona Koyo

New Delhi, Aug. 7: Sona Koyo Steering Systems Ltd, an auto ancillary company, will raise up to Rs 200 crore in domestic and foreign loans from ICICI Bank, Standard Chartered Bank, Citibank and HSBC.