JM Financial Institutional Securities, on behalf of Independent Media Trust, represented by its trustee Sanchar Content Private Ltd, together with Reliance Industries Ltd (RIL) and Reliance Industrial Investments and Holdings, has made an offer for the acquisition of up to 22.99 crore equity shares of Network18 Media & Investments Ltd, constituting the remaining 21.96 per cent at a price of Rs.41.04 a share aggregating to Rs.943.70 crore.

Smart farm sector growth spurred India’s economy to grow 4.7 per cent in 2013-14, according to the gross domestic product (GDP) provisional estimates released on Friday. The GDP growth rate in the previous year was a decade-low of 4.5 per cent. This is the second year in a row during which the economy’s growth remained below the 5 percent.

Four persons were killed and 11 injured when a fire broke out in a hotel in Jammu in the early hours on Saturday.

The incident occurred in Hotel Neelam in bus stand area of Jammu city at around 02.30 a.m., police said.

As the smoke started billowing out of the three-storey building, police and fire service personnel rushed to the spot and launched operation to rescue the people trapped in the hotel.

Western Railway has prepared a Rs 46.9 crore plan for increasing the height of 145 of its suburban platforms to a uniform 900mm over the next couple of years, provided the fund is sanctioned by the Centre without much delay.

It plans to complete the work in three phases. In the first phase, the height of a set of 32 platforms, which now measures 760mm from the tracks, will be altered. The present height is fine by railway rule-wise, but dangerous when the new Siemens and Bombardier rakes begin operation.

If Reserve Bank of India (RBI) Governor Raghuram Rajan’s statement days before the central bank’s bi-monthly monetary policy review is any indication, tension between the finance ministry and RBI could well be a thing of the past.

Tata Hitachi Construction Machinery Company Ltd, a JV between Tata Motors and Japan’s Hitachi Construction Machinery, is expecting its 100-tonne dump truck to hit the market during the first half of 2016.

Rana Sinha, managing director of Tata Hitachi Construction Machinery Company Ltd, said, “The 100-tonne dump truck is very much on the cards. We are conducting trials and expect it to be launched in 2016.”

Infosys Executive Chairman N R Narayana Murthy on Friday said the departure of 10 senior executives was in the best interests of the city-based information technology company.

“As we embark on a newer and better horizon for our employees and our clients, we will see some transition in leadership,” Murthy said in an email to Infosys employees on Friday. “Please rest assured that the leadership changes take into account the best interests of the company.”

It’s official. Narendra Modi has inherited sub-five per cent growth from the United Progressive Alliance government. For 2013-14, the economy grew 4.7 per cent, against 4.9 per cent projected in the advance estimates, pulled down by manufacturing, mining, construction and logistics, official data showed on Friday.

Private Sector lender YES Bank has raised $500 million via the qualified institutional placement (QIP) route. With this issue, the promoters have divested 12.9 per cent stake in the bank. Earlier the promoter shareholding in the bank stood at 25.55 per cent but after the QIP issue the stake has come down to 12.65 per cent.

Private sector lender ICICI Bank raised $ 250 million on Thursday through Reg S bonds. Reg S bonds are offered to non-US residents and qualified institutional buyers under an exception to US securities laws enacted in 1990, and do not enjoy the same legal protection as other issues.

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