Suzlon cash course
Mumbai, May 12: The founders of Suzlon Energy are looking to raise up to $48 million through the sale of 30 million shares or a stake of 2 per cent in the wind turbine maker, sources said. The deal opened on Tuesday evening and the sources said the founders were looking to get Rs 75.57 a share in the deal.
New Delhi, May 12: India is likely to have a record bumper rice harvest of nearly a 100 million tonnes this year. This is marginally above last years 96.69mt output. Wheat production is being estimated at 77.63 million tonnes compared with 78.57mt in 2007-08.
New Delhi, May 12: Foreign direct investment in India is estimated to have dipped over 55 per cent to $2 billion in March from $4.44 billion a year ago. Inflows in February had dropped 73 per cent year-on-year to $1.49 billion.
New Delhi, May 12: The government has designated economic affairs secretary Ashok Chawla as the finance secretary with effect from today. The post of finance secretary fell vacant following the retirement of Arun Ramanathan.
New Delhi, May 12: Indian Oil, Bharat Petroleum and Hindustan Petroleum are likely to get Rs 10,300 crore worth of oil bonds this week to make up for the losses they incurred on selling fuel below cost last fiscal.