Economy
Scanty rains to escalate inflationary pressures says CRISIL

Rainfall so far this year is similar to that seen in 2009 which was an all-India drought year, and this may flare up prices of pulses and coarse cereals, says the ratings agency


Mumbai: Stating the deficient rainfall situation is similar to that of the 2009 drought, ratings agency CRISIL on Thursday said the shortfall will have an adverse impact on headline inflation and push it...
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BSES asked to pay Rs6,000 for denying new power connection

BSES officials tried to install an old meter when the customer had paid for a new meter and then denied him the electricity connection saying that he failed to fulfil commercial formalities

 
New Delhi: City's power distribution company BSES has been ordered by a a consumer forum to pay Rs6,000 to one of its customers as compensation for arbitrarily denying him a separate and new...
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Shriram Transport Finance NCD priced at Rs1,000

The vehicle loan provider said proceeds from the NCD for its financing activities including lending and investments and also for repaying existing loans

 
Hyderabad: Shriram Transport Finance Co Ltd (STFC) said it entered into debt capital market with a public issue of secured non convertible debentures (NCD) of face value of Rs1,000 each, reports PTI.
 
It aggregates upto Rs300 crores with an option to retain over-subscription upto Rs300 crores for issuance of additonal NCDs aggregating to a total of upto Rs600 crore, company officials said on Thursday.
 
The issue will be open for subcription from today to 10th August with an option to close on such earlier date or extended date as may be decided at the discretion of the duly authorised committee of directors of the company subject to necessary approvals.
 
The NCDs under this issue have been rated 'CRISIL AA/Stable' by CRISIL for an amount of upto Rs600 crore and 'CARE AA+' by CARE for an amount of upto Rs600 crore.
 
The NCDs offered through the prospectus dated 16 July 2012 are proposed to be listed on the NSE and the BSE.
 
The funds raised through this issue, after meeting the expenditure of and related to the issue, will be used for STFC's various financing activities including lending and investments, for repaying existing loans and for business operations including capital expenditure and working capital requirements, officials said.
 

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