GMR Hyderabad International Airport Limited(GHIAL) will utilise $75 million (close to Rs 490 crore) out of the total $350 million (Rs 2,276 crore) that it has raised in the international bond market on capital expenditure for the airport expansion. The rest of the proceeds will be used to refinance the existing debt.

GMR Airports Limited president Sidharath Kapur on Monday elaborated on the fund utilisation plan of the subsidiary company after broadly indicating the purpose of $350 million bonds issue couple of days ago.

MUMBAI: The benchmark BSE Sensex recovered about 224 points and the NSE Nifty regained the 10,200 mark in early trade on Monday on fresh buying by investors amid a firm trend in Asian markets.

The 30-share barometer, which had lost 194.39 points on the first day of Samvat 2074 in special 'Muhurat' session on Thursday, was trading higher by 223.86 points or 0.69 per cent at 32,613.82.

MUMBAI: Markets regulator Sebi has launched an investigation into a scam which involves unscrupulous agents who are making a killing by fraudulently transferring shares from the account of a deceased holder, which are in physical form and have not been claimed by the nominee or the legal heir, into illegal accounts.

These agents use unlawful means to get hold of shares unclaimed by legal heir of the deceased, convert them into demat (shares into electronic form) mode to sell in the market, transfer the funds into bank accounts set up for the purpose, and make cash withdrawals. It is suspected that the fraud is being carried out by the agents in connivance with employees of share transfer agencies, companies, banks and some government offices, sources said.

Canara Bank and Kotak Mahindra Bank were the gainers as State Bank of India (SBI) lost market share in debit card spends between April and August, slipping to below its pre-demonetisation level. According to data released by the Reserve Bank of India (RBI), SBI’s share in debit card spends slipped to 29.88% in August from 31.27% in April. This is below the bank’s October 2016 share of 29.96%. SBI clocked debit card spends worth Rs 10,582.86 crore in August, down from Rs 11,720.73 crore in April.

NEW DELHI: After the unsuccessful launch of navigation satellite IRNSS-1H, Indian Space Research Organisation (Isro) is gearing up to launch a remote sensing satellite of Cartosat-2 series along with 30 nano satellites of foreign countries in the second half of December.

Vikram Sarabhai Space Centre (VSSC) director Dr K Sivan said, "Isro will be busy in launching a series of satellites from December onwards. We are targeting to launch Cartosat along with 30 nano satellites of foreign countries in the second half of December."

In a bid to compete with the multitude of private television news channels dominating India's news space, Doordarshan (DD) News has decided to seek professional help for another round of image makeover.

An expression of interest has already been invited to hire a private agency, which will work on "providing creative inputs, technical infrastructure and man power for enhancing look and feel of DD (News) channel".

Geopolitical risk returned to markets this month helping the US dollar to hit a 10-week high before it gave up some gains.

The German and New Zealand general elections resulted in a hung Parliament, pro-Independence referendums in Catalonia (Spain) and Kurdistan (Iraq) strengthened separatist forces, snap polls were announced in Japan (October 22) while the anti-Theresa May lobby in the Conservative Party threatened a coup.

Prime Minister Narendra Modi laid foundation stone for Hindustan Petroleum Corporation Ltd’s MDPL Capacity Expansion and PVPL Extension Project in Vadodara on Sunday. The total approved project cost is Rs 1,879 crore out of which Rs 1,769 crore will be invested in Gujarat. The project is slated for completion by June 2020.

This pipeline project of HPCL will facilitate uninterrupted supply of petroleum products to meet growing market demand for petrol, diesel etc in Gujarat, Eastern Maharashtra and other parts of central India. It will provide safe, environment friendly and cost efficient transportation of petroleum products to these areas.

The loss-making Air India is likely to relook into some existing key contracts with its suppliers, including aircraft lessors and engine makers, as it seeks to trim costs ahead of stake sale by the government.

Air India chief Rajiv Bansal, who has been working on ways to improve the airline's on time performance (OTP) and prune costs on various fronts, has set up a task force comprising four teams to put together a strategy before engaging with vendors, according to a source.

ONGC has drawn a blueprint to raise crude oil production by 4 million tonnes (mt) and almost double its natural gas output by 2020 to meet Prime Minister Narendra Modi’s target of cutting India’s import dependence by 10 per cent, Chairman Shashi Shanker has said.

The state-owned firm will raise crude oil production from 22.6 mt in 2017-18 to 26.42 mt in 2021-22.

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