Selloff managers fee review
New Delhi, Nov. 13: The government will review the fee structure for merchant bankers managing public issues of state-owned companies with a view to attract the best players in the industry. “We are thinking of revisiting the fee structure of merchant bankers managing PSU public issues,” a senior official in the disinvestment department said.
New Delhi, Nov. 13: Drug maker Sun Pharmaceutical has reported a 19 per cent growth in net profit at Rs 598 crore for the quarter ended September 30 on account of a robust performance across its businesses against Rs 503.65 crore in the year-ago period.
Hyderabad, Nov. 13: Cairn India has stopped operations in two blocks during the second quarter ended September 30, because of “constant intervention” by the ministry of defence.
New Delhi, Nov. 13: Mukesh Ambani-led Reliance Industries’ cash reserves may rise to $25 billion (about Rs 1,25,000 crore) by March 2012, putting the corporate giant in a comfortable position for investments in existing and new businesses, global investment banking major UBS has said.
Nalco net dips
Bhubaneswar, Nov. 13: Navaratna PSU National Aluminium Company Ltd (Nalco) has registered a 38 per cent decline in net profit at Rs 139.34 crore during the second quarter against Rs 224.04 crore in the same quarter previous fiscal.