Latest News

• ICICI and Reliance Lead Decline

  Indian shares ended lower Friday on profit-taking, with heavyweights ICICI Bank and Reliance Industries leading the decline.

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  HDFC's Net Profit Soars 22%

  Housing Development Finance Corp., India's biggest mortgage company by assets, posted a 22% rise in fiscal first quarter net profit led by a strong demand for home loans.

• India Aims to Seek Parliament OK for Companies Bill

  India plans to soon seek parliament's approval for a new companies bill that would replace some of the archaic laws and help boost investors' confidence as the South Asian nation stresses on sprucing its corporate governance image.

• India Panel Approves Mining Draft Law

  An Indian ministerial panel cleared the draft of a new mining law that promises to attract more investments into the country's mining sector by slashing red tape, paperwork and a maze of approvals that often stretches to years.

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  India June Exports Rise 46.4%

  India's merchandise exports in June rose 46.4% from a year earlier to $29.2 billion, Commerce Secretary Rahul Khullar said.

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  Double or Quits

  Foreign currency convertible bonds are effective if used right, writes Samita Sawardekar.

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  Dhanlaxmi Bank Cancels Share Issue

  India's Dhanlaxmi Bank has called off a planned 2.91 billion rupees ($65.6 million) share issue after one of the foreign investors pulled out of the share issue and is now considering a bond sale instead, the local lender's chief financial officer said.

• SBI Plans to Raise $5 Billion Via Medium-Term Notes

  State Bank of India plans to raise $5 billion through five-year medium-term notes by December, Chairman Pratip Chaudhuri said.

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  SBI Plans to Raise $4.5 Billion

  State Bank of India will submit a fresh plan next week to raise 200 billion rupees ($4.5 billion) either through a rights issue or sale of shares to institutional investors, its chairman Pratip Chaudhuri said.

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  NTPC Sells $500 Million Bond

  NTPC has priced a $500 million dollar bond to yield 2.55 percentage points over comparable U.S. Treasurys, a person familiar with the matter said.

• India Minister: To Conduct Market Borrowing in Non-Disruptive Manner

  The Indian government will conduct its market borrowing for the current fiscal year in a non-disruptive manner, leaving enough space for private-sector borrowers, Finance Minister Pranab Mukherjee said.

• Deals India: Morning News Roundup

  News roundup from Indian newspapers, news wires and Web sites on Friday, July 8, 2011. Deals India has not verified the stories from other media organizations and does not vouch for their accuracy.

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  Dynasty, Charisma Square Off in Indian Election

• Blackstone Acquires Fino Stake for $34 Million

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  India Minister Resigns Amid Graft Allegations

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  35 Killed as Train Hits Bus in India

• India Open to Sell 3.56% of Neyveli Lignite

• India OKs Raising FDI Limit in FM Radio to 26%

• Private Equity Funds Invest in GMR Airports

• India April-June Private Equity Investments Rise 45%

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  L&T; Finance Raises $74 Million

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  India Increases Cotton Exports