5 percent government stake sale in NTPC on Tuesday
New Delhi : The government will on Tuesday divest 5 percent stake in power generator NTPC through the offer for sale (OFS) route as a part of the disinvestment programme for this fiscal ending March 31, an official statement said.
 
The base price for the OFS has been fixed at Rs.122 per share. The government, which currently holds 74.96 percent stake in the power utility, will sell more than 412 million shares, 20 percent of which is reserved for retail investors.
 
The government has divested stake in five companies, raising a total of Rs.13,300 crore so far in this fiscal, while this sale will be the second biggest divestment after Indian Oil Corp, which garnered the exchequer around Rs.9,370 crore.
 
SBI Cap Securities, ICICI Securities, Edelweiss Securities and Deutsche Equities are the bankers to the share sale.
 
NTPC stock closed on Monday at Rs.126.85 a share, down 2 percent on its previous close on the Bombay Stock Exchange (BSE).
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Smartphones to account for half of connections in 2016
Madrid : Smartphones will be used for 50 percent of all mobile connections worldwide by the end of 2016, according to a prediction made by GSMA Intelligence.
 
GSMA Intelligence is part of GSMA, the representative body of the mobile communications industry, Xinhua reported.
 
India will see an important rise in smartphone use, with an adoption rate climbing from 23 percent at the moment to an estimated 50 percent by 2020.
 
The estimate has motivated some Chinese manufacturers to begin producing in the country.
 
China is also expected to continue playing a major role in increasing the number of smartphone connections although it is already the world's biggest smartphone market with 890 million connections in 2015 (129.4 million up on 2014), the agency said on Monday.
 
The Chinese market has benefited from an expanding middle class and thanks to companies such as Huawei and ZTE, it also has strong domestic manufacturers.
 
Although the growth in smartphone use in China has slowed since 2015, sales remain strong as users look to upgrade to high-end devices, the agency said.
 
Myanmar saw over 600 percent increase in smartphone use from 10 to 66 percent between the second quarter of 2014 and the last quarter of 2015, with many first time handset purchasers entering the market with a smartphone rather than a more basic device.
 
In an article published in the Mobile World Daily magazine distributed at the Mobile World Congress (MWC) in Barcelona, GSMA Intelligence confirmed that smartphones accounted for 45 percent of global mobile connections in the last quarter of 2015, when five years ago they have accounted for less than 10 percent of connections.
 
Some 2.9 billion smartphone connections have been added over the past five years and a further 2.5 billion are predicted for the next five.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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NHAI issues code of conduct, uniform to toll plazas
New Delhi : The National Highways Authority of India (NHAI) on Monday said it issued a code of conduct for toll plaza operators aimed at reining in misbehaviour of staff and lack of uniformity.
 
"NHAI contractors/concessionaires are to mandatorily comply with the policy guidelines and standards prescribed by NHAI. A uniform dress code has also been issued, to be used through the country for the staff manning toll plazas," said an official statement.
 
Toll plaza personnel will wear navy blue uniforms with adequate identification.
 
A standardised format for display of toll rates, concessions and exemptions has also been circulated to the concessionaires and contractors, the statement added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Gopalakrishnan T V

9 months ago

How toll charges are fixed should be made transparent.Further, there should not be too many toll plazas in the highways. There should be some mechanism to collect the tolls in one lump sum depending on the distance to be covered by the travelers.Every ten or fifteen kms stoppages to pay the tolls can be definitely avoided.
VVIps, VIPs exemptions should be avoided and in case they have to be accommodated, they can be reimbursed the toll charges. Exempting them publicly is not in good taste. Sufficient number of Comfort stations also need too be provided.

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