003

Indraprastha Gas records Rs 143 crore quantum jump in turnover

New Delhi: The supplier of Compressed Natural Gas, CNG and Piped Natural Gas, PNG in the National Capital Region, Indiraprastha Gas Limited’s gross turnover has increased by 143 crore rupees to over 4200 crore rupees in 2016-17.

The company's net profit also increased during this period from 418 crore rupees to over 570 crore rupees. The Board of the company has recommended a final dividend of 50 per cent in addition to 35 per cent interim dividend already declared and paid.

1b

EPFO trustees approve hike investment in exchange traded funds

New Delhi: Union Labour Minister BandaruDattatreya has said that the Employees Provident Fund Organisation (EPFO) has approved hike in investment limit in exchange traded funds to 15 per cent from the existing 10 per cent. The decision was taken during the meeting of the Central Board of Trustees in Pune on Saturday. 

Exchange Traded Funds (ETF) are essentially Index Funds that are listed and traded on exchanges like stocks. An ETF is a basket of stocks that reflects the composition of an Index. It is like a Mutual Fund that one can buy and sell in real-time.

063

Five merchant bankers to monitor Govt’s 3% stake sale in IOC

The government has selected five merchant bankers – Goldman Sachs, Citigroup, Deutsche Equities, SBI Capital Markets and ICICI Securities – to manage its three per cent stake sale in Indian Oil Corporation (IOC), which could fetch about six thousand crore rupees to the exchequer.
A total of 10 merchant bankers had made turned up before the DIPAM yesterday, of them five were selected. The government currently holds 58.28 per cent stake in IOC. It plans to sell 3 per cent stake in the nation's largest oil retailer through an offer for sale. 

Rupee

Re surges by 9 paise against dollar

The rupee edged higher by 9 paise to 64 point 80 against the dollar in early trade today. Yesterday, the rupee had slumped by a whopping 34 paise to end at a fresh seven-week low of 64.89 against the American currency. 
Meanwhile, the benchmark BSE Sensex recovered 120.54 points to 30,485.79 in early trade.