VSNL retail move

Mumbai, Feb. 16: VSNL will hive off its retail business undertaking to its wholly owned subsidiary DIL Internet for a consideration of up to Rs 400 crore. The empowered sub-committee at its meeting held today approved the proposal to hive off the company’s retail business undertaking, which comprises broadband and retail Internet services undertakings, on a going concern basis with effect from April 1, it has informed the NSE.

Srei stake

Calcutta, Feb. 16: European Bank for Reconstruction and Development (EBRD) and DEG of Germany have picked up a 30 per cent stake in the Russian outfit of the city-based Srei Infrastructure Finance Company.

Trading off

Mumbai, Feb. 16: All major markets, including Bombay Stock Exchange (BSE), National Stock Exchange (NSE), Foreign Exchange (Forex), oilseeds and bullion, remained closed today on account of Mahashivratri.

SPML pact

New Delhi, Feb. 16: Subhash Projects and Marketing (SPML) today signed an MoU with the Gujarat government to undertake projects worth Rs 5,000 crore, The projects cover development of townships, utilities management, construction of roads and real estate development.

Sebi move

Mumbai, Feb. 16: Sebi has directed the depository participants (DPs) NSDL and CDSL to be more cautious in transfer of securities in dematerialised mode and to give more emphasis on investor education.