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Technical glitches mar retail investors in SAIL sale

2014-12-10 22:02:29| Steel - Topix.net

Several hundred retail investors who bid for shares in the offer for sale of Steel Authority of India Ltd last week have not received the promised five per cent discount. Last-minute changes in the OFS mechanism and data entry glitches have led to the loss, brokers and investors told Business Standard.

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Oversubscribed 2 times SAIL disinvestment offer bags Rs 1725 cr

2014-12-05 16:26:45| Steel - Topix.net

The government's plan to raise capital by disinvesting its stake in various public sector undertakings got off to a flying start on Friday, with its offer for sale of 5% stake in public steel sector firm Steel Authority of India Ltd getting oversubscribed by over two times mopping up Revenues from selling shares in state-owned companies is critical to the government's plans to keep the fiscal deficit -- shorthand for the amount of money the government borrows to fund its expenses -- at 4.1% of GDP in 2014-15. A shortfall in revenues may prompt the government to raise indirect taxes -- it has already done it twice in petrol and diesel in the last two months -- hurting prices.

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Selloff to start with SAIL offer

2014-12-04 01:06:48| Steel - Topix.net

New Delhi, Dec. 3: The government will launch its divestment drive for the current fiscal with the sale of a 5 per cent stake in steel major SAIL on Friday that could fetch the exchequer Rs 1,700 crore. The floor price for the share sale will be fixed tomorrow, Steel Authority of India Ltd said in a regulatory filing.

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Upgraded MSC Magnifica cruise ship sets sail to Hamburg

2014-12-01 01:00:00| Ship Technology

Italian-Swiss shipping company MSC Cruises's MSC Magnifica vessel has completed its repair and maintenance works at Damen Shiprepair Rotterdam.

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SAIL lease renewal in EC court

2014-11-14 04:52:45| Steel - Topix.net

Ranchi, Nov. 13: Jharkhand High Court has directed the state government to seek permission from the state election commission to renew the mining lease of Steel Authority of India within a week, failing which the PSU would be free to resume operations. The court of Justice S. Chandrashekhar today ordered the PSU to give an undertaking for abiding by the terms and conditions fixed by the mines department for renewal of the mining lease.

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