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Sebi rebukes HSBC Securities, India Star in Global Offshore case
Posted on 22nd November 2014
Securites and Exchange Board of India (Sebi) on Friday 'reprimanded' HSBC Securities and Capital Markets Pvt Ltd for failing to make adequate disclosures related to an open offer for shares of Global Offshore Services' made in 2008.

Besides HSBC Securities, which acted as the merchant banker, the capital market watchdog also reprimanded India Star (Mauritius) Ltd which had made the open offer. However, Sebi ruled that "a direction in the nature of ordering the acquirer to make another public offer is not warranted".


IOC aims at 90% DBTL compliance in Gujarat by mid-Jan
Posted on 22nd November 2014
Even as the modified Direct Benefit transfer of LPG (DBTL) scheme is set to be launched pan-India by January 1, 2015, the Indian Oil Corporation (IOC) Ltd. has set a target of 90 per cent cash transfer compliance (CTC) among its consumers by mid January.

Earlier, the DBTL scheme was launched on June 1, 2013 but required consumers to mandatorily have an Aadhaar number for availing LPG Subsidy. Post review, the government later modified the scheme allowing consumers who do not have an Aadhaar number to still be cash transfer compliant by registering their bank accounts.


ICICI Bank not to hire aggressively, skips attrition replacement
Posted on 22nd November 2014
ICICI Bank, which more than doubled its headcount in the past five years, has decided to go slow on hiring for now.

The country’s largest private sector lender has paused on fresh recruitment and, in many cases, isn’t even replacing those leaving the company. Instead, it is focusing on improving the productivity and efficiency of its existing workforce.


ICICI Bank fixes record date for stock split; stock hits new high
Posted on 21st November 2014
Shares of ICICI Bank has higher by 3% to Rs 1,732 on National Stock Exchange (NSE) after the bank has fixed December 5 as the record date for its proposed stock split.

The bank has fixed record date as December 05, 2014 for the purpose of ascertaining the eligible shareholders who would be entitled to receive 5 equity shares of nominal value of Rs 2 each in lieu of 1 equity share of nominal value of Rs 10 each of the bank, ICICI Bank said in a statement.


GMR claims $803 mn for termination of Male Airport contract
Posted on 21st November 2014
GMR Male International Airport Private Limited (GMIAL), a subsidiary of GMR Infrastructure Limited (GMR), has claimed $803 million (around Rs 4,987 crore) from the Maldivian government for 'wrongfully' terminating the international airport contract in that country's capital.

According to filing with bourses, the Indian infra major said, in addition to that, a plea for award of further damages for loss of reputation caused to GMR as a consequence of wrongful repudiation of the Concession Agreement has also been made to the Arbitral Tribunal in Singapore.


Alto, Swift, Dzire among 6 Maruti models in top 10 best sellers in October
Posted on 21st November 2014
Maruti Suzuki India’s grip on the country’s car market tightened in October with six of its models, including the newly launched mid-sized sedan Ciaz, featuring in the top 10 selling brands in the month.

According to the Society of Indian Automobile Manufacturers Association (SIAM) while entry level model Alto continues to lead the best selling model chart, Maruti’s compact sedan Dzire moved up to the second spot ahead of popular premium compact Swift, which has slipped to the fourth spot behind WagonR.


SBI reclaims most-valued bank status
Posted on 21st November 2014
State Bank of India (SBI) today reclaimed its position as the country's most valued bank with a total market valuation of over Rs 2.25 lakh crore, surpassing private sector player HDFC Bank.

At 1008 hours, shares of SBI gained 2.2% to Rs 304 on BSE, taking its market value to Rs 226,734 crore, making it the overall sixth most valued company.


Kohli confirms relationship with Anushka
Posted on 21st November 2014
India’s top batsman Virat Kohli has asked the public to use common sense on his much talked about relationship with actress Anushka Sharma, saying they indeed are seeing each other and their privacy should be respected.

It is out in the open (Jo hai sabke saamne hai abhi). We are not hiding anything, we are not trying to hide anything. I don’t want to hide anything. But if you get repeatedly asked on the same thing and if it is made a matter of debate then both the individuals don’t feel it is right, said Kohli at the launch of his fashion line in Mumbai.


SC removes CBI director from telecom case
Posted on 21st November 2014
In a humiliation 12 days before retirement, Central Bureau of Investigation (CBI) Director Ranjit Sinha was on Thursday removed by the Supreme Court from the telecom scam cases, saying the allegations against him of protecting some accused appear to be prima facie credible.

Prima facie, the allegations made in the application (by non-governmental organisation Centre for Public Interest Litigation against Sinha of scuttling a probe) are credible and required to be accepted, the court said.


Mali doctor dies of Ebola, taking toll up to seven
Posted on 21st November 2014
A doctor in Mali died of Ebola after treating an imam who succumbed to the disease, taking the total toll in the west African country up to seven, health authorities have said.

The World Health Organisation said the virus was 'almost certainly re-introduced into Mali by a 70-year-old Grand Imam from Guinea, who was admitted to Bamako's Pasteur clinic on 25 October and died on 27 October'.


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