Translate

Friday, December 4, 2009

The Cabinet cleared the (SBI) Amendment Bill yesterday paving the way for the government to lower its stake in to 51%. India's largest public bank can

The Cabinet cleared the (SBI) Amendment Bill yesterday paving the way for the government to lower its stake in to 51%. India's largest public bank can now go in for a follow-on or rights issue. The government currently holds 59.41% stake and can raise Rs 12,549 crore via the 8% stake sale. The bill may now be introduced in this session of Parliament. The stock is buzzing today.State Bank of India.

Commenting on the same, Ashvin Parekh, Partner and National Leader - Global Financial Services, Ernst & Young, says the bill was long awaited. "It gives the bank leeway to raise further capital. It also allows it to go in for a bonus issue or offer employee stock options."
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Jun 10
18:25 Redbook Index (YoY) 1 4.7% 4.9%
21:00 52-Week Bill Auction 1 3.94% 3.93%
22:30 3-Year Note Auction 1 3.972% 3.824%
Wednesday, Jun 11
02:00 API Weekly Crude Oil Stock 1 -0.37M 0.70M -3.30M
04:15 Visitor Arrivals (YoY) 1 18.8% -8.4%
15:00 10-y Bond Auction 1 4.673%
16:30 MBA Mortgage Applications 1 -3.9%
18:00 Consumer Price Index ex Food & Energy (MoM) 3 0.3% 0.2%
18:00 Consumer Price Index ex Food & Energy (YoY) 3 2.9% 2.8%
18:00 Building Permits (MoM) 1 2.2% -4.1%
Economic Calendar >> Add to your site

Best Mutual Funds

Recent Posts

Search This Blog

IPO's Calendar

Market Screener

NSE BSE Tiker

Custom Pivot Calculator

Popular Posts

Market & MF Screener