New Delhi, March 10: The second round of 2G spectrum auction for CDMA services will start tomorrow and it may last just an hour as Russian conglomerate Sistema’s Indian unit SSTL is the only bidder. Auction rounds are scheduled to begin from 9am to 7pm on Monday, according to an official document. The government has put on block CDMA spectrum worth Rs 6,400 crore.
New Delhi, March 10: The government is likely to take a view on the Rs 11,200-crore Vodafone tax case next week, a top finance ministry official has said. “The issue (Vodafone tax dispute) may come up before the cabinet next week. A proposal on the row has gone to the law ministry,” the official said.
Hyderabad, March 10: Infrastructure builder GMR Group has put its Rs 300-crore five-star hotel at the Rajiv Gandhi International Airport here up for sale as it realigns its assets, sources said.
New Delhi, March 10: An inter-ministerial panel is likely to decide tomorrow the floor price for a 12.5 per cent stake sale in Nalco, which can fetch around Rs 1,400 crore to the exchequer at current rates.
Mumbai, March 10: Slowdown in growth and high interest rates have resulted in a 42.6 per cent rise in bad assets in the banking system to Rs 1.83 lakh crore till December 2012, CARE Ratings has said. Gross non-performing assets (NPA) stood at Rs 1.28 lakh crore in the same period a year ago.
New Delhi, March 10: India has attracted foreign direct investment (FDI) of $22.78 billion in 2012, a decline of 34 per cent over the previous year, because of global economic uncertainties. The country had attracted foreign investments of $34.62 billion in 2011.
Mumbai, March 10: Leading bourses Bombay Stock Exchange and National Stock Exchange have put in place a mechanism that will generate automated alerts for stock brokers whenever suspicious transactions are detected in their clients’ accounts.