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ABG Shipyard gears up to match Bharati's open offer
Ship building firm ABG Shipyard is getting ready to counter the offer price of rival Bharati Shipyard to acquire offshore drilling company Great Offshore.

Jan cement sales in high double-digit
Cement makers today reported double-digit growth in January sales driven by increased demand from housing sector, especially of low-cost homes, and infrastructure.

News of the day

Power situation improves in state
With power situation improving following good rains, Karnataka minister for energy K S Eshwarappa today said urban areas would get 22 hours of supply a day from August one, while load-shedding in rural ones would be to the extent of 14 hours. In Bangalore, the Bangalore Electricity Supply company (Bescom) has said it would make all efforts to provide 24-hour power supply, he told reporters here. Rural areas would get power supply for five hours in case of single-phase and five hours for irrigation purpose (IP sets) which means they would face load-shedding for 14 hours.
Business Opportunities

BoB to raise Rs 3,500 cr via debt to fund expansion

Bank of Baroda (BoB) today said it will raise Rs 3,500 crore by various debt instruments during the current financial year to fund its expansion plan. - BoB to sanction Rs 3095 cr to SMEs - FII-TO-FII: Grasim Ind traded at 3% premium - GM fighter pilot Lutz at 77 looks to salvage automaker"s brands - Microfinance too faces the brunt of global crisis: Citi - FII-TO-FII TRADES: PNB traded at 4% premium - Loaded govt arm to pump up infra The board of directors have approved a plan of raising debt capital of Rs 3,500 crore during the financial year 2009-10, in order to support the business expansion plans, the public sector lender said in a filing to the Bombay Stock Exchange. "The bank would raise funds by way of innovative perpetual debt instruments (IPDI), perpetual non-cumulative preference shares (PNCPS) -- eligible to be reckoned as Tier-I capital -- or Upper/Lower Tier-II debt capital instruments -- eligible to be reckoned as Tier-II capital or a combination of both," the filing added. Shares of Bank of Baroda today closed at Rs 433.20 on the BSE, up 0.88 per cent from its previous close.


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