New Delhi, Jan 17. The National Council of Applied Economic Research (NCAER) has revised its projections for India’s GDP growth to 8.44 per cent for 2006-07, from 8.13 per cent made in October, on estimates of higher growth in industry and services sectors.
New Delhi, Jan. 17: The government is expected to bring in an ordinance empowering the Reserve Bank to cut statutory liquidity ratio (SLR) below the current floor limit of 25 per cent by this month-end or early February. Minister of state for finance P.K. Bansal said a bill to amend the Banking Regulation Act is expected to be tabled in the budget session.
Mumbai, Jan. 17: Promoters of Reliance Industries and IPCL have consolidated their stake in the two entities over the past quarter. The promoters acquired a 50.62 per cent stake in Reliance Industries Ltd (RIL) and increased their holding in IPCL to 46.64 per cent.
Mumbai, Jan. 17: Larsen & Toubro Ltd (L&T) has joined hands with Saudi Arabia-based AA Turki Contracting & Trading Corporation for construction activities in the hydrocarbon and power sectors.
New Delhi, Jan. 17: Escorts will raise $10 million in private equity over the next fortnight to fund expansion of its Rs 300 crore construction equipment subsidiary.
