Bharti Airtel emerges as frontrunner to acquire Loop Mobile

Bharti Airtel has emerged the frontrunner to acquire Loop Mobile, one of Mumbai's oldest cellular networks, as the company's owners, Dubaibased IP Khaitan and family, seek to exit the telecom sector, said multiple sources aware of the negotiations. Discussions with Airtel have been going on for some time and have gathered momentum in recent weeks. But a final deal is dependent on clarity on guidelines governing mergers and acquisitions in the...

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Sensex ends 216 pts dwn; JP Asso falls 12%, Fin Tech up 18%

Stocks fell Thursday, snapping a 5-day winning streak which saw the Sensex rally around 1700 points. Dealers attributed today's weakness to a mix of profit booking and absence of buying at higher levels. Weakness in key European markets too weighed on sentiment, they said. The Sensex finished at 19781.88, down 215.57 points or 1.08 percent points over the previous close, after seeing a low of 19676.66 intra-day. The Nifty shed 62.45 points or 1.1 percent to close at 5850.70. Mid and small cap shares fared better than their...

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REC's Rs 3.5k cr tax-free bond issue opens Aug 30

State-run Rural Electrification Corp (REC's) public issue of tax-free bonds will open for subscription on 30th August. The company is looking at raising Rs 3,500 crore by issuing bonds in three different tenures 10-year, 15-year and 20- year. The tax-free coupon rate on these bonds will be between 8.01%, 8.46% and 8.37% for 10-year, 15-year and 20-year respectively. Meanwhile, retail investors will be offered 8.26%, 8.71% and 8.62% respectively. The issue will have a 40% reservation for retail investors, while 20% each for high-networth individuals...

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RBI infuse Rs 8,000 cr via OMO to ease liquidity in market

The Reserve Bank conduct open market operations to purchase government bonds worth Rs 8,000 crore on August 30 to ease liquidity in the market. Based on the current assessment of prevailing and evolving market conditions, the Reserve Bank has decided to conduct open market operations by purchasing Government securities for an aggregate amount of Rs 8,000 crore on August 30. The RBI will buy government securities maturing in 2025 (bearing interest rate of 8.2%), 2026 (8.33%), 2032 (8.32%) and 2042 (8.3%). OMOs are conducted by the RBI by way of...

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