GTL board approves corporate debt restructuring plan -Forms committee to finalise debt restructuring terms
SBI Chairman says -Investment pipeline is relatively dry -Capex programmes need to be accelerated, especially by PSUs -Policy hurdles are significant -Lower interest rates of 5-6% would help -Cost of growth has accelerated
Tata Group identifies 3 new sectors to drive growth -Tata group to focus on housing, education & EPC in future -Targets Rs 10,000 crore revenues by 2015 from EPC company Tata projects -Aims to be 1 of India's top 3 developers with Tata Housing -Targets over USD 1 billion revenues by 2015 from Tata Housing -Forays into education with Tata Interactive Systems -Education foray to reach 150 cities by 2012-end -Education foray in technology aided learning -Banking on USD 15 billion opportunity in supplemental learning
Air India board meet -Air India board okays issuance of preferential shares worth Rs 7500 crore to lenders -SBI has moved RBI for additional dispensations in provisioning -Cabinet note being moved by MoCA for equity infusion -Cabinet note for approving financial restructuring plan
Other stocks and sectors that are in news today: -Budget likely on February 29 - The Hindu Business Line -Godrej Properties sells 49% stake in arm developing Gurgaon project to SUN-Apollo - Dr Reddy 's plans Lipitor generic launch in June - HBL -Satyam ADS holders may face 42% withholding tax in India - HBL - SBI may go for QIP in FY13 - BS -Chennai Port rejects Mundra Port's Rs 3700 crore bid - BS -REC cuts FCCB issue size to USD 500 million from USD 1 billion - BS -SEBI may allow promoters to auction shares on exchanges; will aid govt in the divestment program - ET -OMC's (BPCL, IOC, HPCL) may raise petrol prices by Rs 2.25/litre from Jan 1 - ET -SAIL, Kobe to invest Rs 1500 crore in JV to make iron ore nuggets - ET -Foreign investor apathy likely to prompt govt to nix lock in period for corporate bonds - FE -IL&FS likely to invest Rs 200 crore in Indiabulls Infra Estate ffor an 8% stake - HBL -F&O Ban: Ruchi Soya -SEBI suspends Networth Stock Broking registration for 1 month
