President Donald Trump replaced his beleaguered White House chief of staff, Reince Priebus, after only six months on the job on Friday, installing retired General John Kelly in his place in a major shakeup of his top team.
President Trump naming a new chief of staff on Friday - announcing Homeland Security Secretary John Kelly will take over as the president's top aide, moving to stabilize his administration after an especially turbulent week.chief General House Kelly President Priebus staff top Trump White
Two companies -- Cochin Shipyard and Security and Intelligence Services (India) -- will hit the market this week with initial share sale offer to raise over Rs 2,000 crore.Bidding for shares of Security and Intelligence Services will begin from July 31-August 2, while that of Cochin Shipyard will be open from August 1-3.Security and Intelligence Services (India) Ltd (SIS) on Friday said it will launch an IPO on Monday and expects to raise up to Rs 780 crore, a part of which will go towards debt repayment.SIS has set Rs 805-815 per share as the price band for the initial public offer (IPO).The IPO comprises fresh issue of equity shares valuing up to Rs 362.25 crore and an offer for sale of up to 5,120,619 equity shares to be diluted by investors and promoters.The company has raised Rs 350.81 crore from anchor investors.Axis Capital Limited, ICICI Securities Limited, IIFL Holdings Limited and Kotak Mahindra Capital Company Limited are the global coordinators and book running lead managers to the offer.The company offers cash logistics and facility management services.IPO-bound public sector unit Cochin Shipyard aims to raise up to Rs 1,468 crore through its share sale offer.Cochin Shipyard has fixed the price band at Rs 424-432 for its IPO of 33,984,000 equity shares.SBI Capital Markets Limited, Edelweiss Financial Services Limited and JM Financial Institutional Securities Limited are the book running lead managers to the offer.Cochin Shipyard intelligence IPO limited raise Rs crore sale security services shares
Elaine Duke, set to become acting U.S. homeland secretary on Monday, has the rare distinction of serving in high-level positions in three administrations. She was DHS undersecretary for management from 2008 to 2010, tapped by President George W. Bush ... Politico: Michael McCaul Top Candidate to Replace Kelly at DHS Newsmax Who will replace Kelly at Homeland Security?acting DHS Duke Elaine Homeland Kelly Monday Rare replace Secretary
Kicking off the process for sale of HPCL stake to ONGC , the government has invited bids for appointing merchant bankers and legal consultants for the Rs 28,000 crore deal.The Department of Investment and Public Asset Management (DIPAM) has invited expression of interest from professional consulting firms and investment/merchant bankers for managing the disinvestment process.It is seeking to appoint two advisors for the strategic sale besides one reputed law firm with experience and expertise in mergers and acquisitions or takeovers or strategic disinvestment, to act as legal adviser, according to the notice inviting bids.The Cabinet Committee on Economic Affairs (CCEA) had on July 19 given 'in-principle' approval for strategic sale of the government's existing 51.11 per cent stake in Hindustan Petroleum Corp Ltd (HPCL) to Oil and Natural Gas Corp (ONGC) along with the transfer of management control.The two merchant bankers would assist the government on "modalities of disinvestment and the timing" as well as recommend the need for intermediaries required for the process, the notice said.They would do business valuation of HPCL, structure the transaction, suggest measures to fetch optimum value and assess positioning of the strategic sale, it said.They will also prepare all documents like information memorandum (IM), confidentiality agreement and transaction agreements such as agreement to sale and share purchase agreement.The legal adviser would review and advise on all legal contracts, titles of properties/assets/real estate, intellectual property rights and contracts with employees.It will also draft transaction related documents and advise on the structure of the transaction including compliance with SEBI guidelines and stock exchange listing norms.Bids have been invited for consultants and legal adviser by August 10, the notice said.An official said the government is keen to complete the transaction within the current fiscal.HPCL will remain a public sector unit with a separate board and brand identity post ONGC acquiring government's entire 51.11 per cent stake, which at current prices is valued at over Rs 29,100 crore.Post-merger all refining units of ONGC will be accumulated under HPCL, making it India's third largest oil refiner after Indian Oil Corp ( IOC ) and Reliance Industries For overseeing this transaction, the CCEA approved setting up of an alternative mechanism, headed by the finance minister, which will help in taking quick decision with regard to the timing, price, terms and conditions and other related issues, the official said.Oil Minister Dharmendra Pradhan and Road Transport and Highways Minister Nitin Gadkari are other members of the panel.HPCL currently has 24.8 million tonnes per annum of refining capacity. Mangalore Refinery and Petrochemicals Ltd (MRPL), a subsidiary of ONGC, has 15.1 million tonnes capacity.government HPCL legal oil ONGC said sale strategic The transaction
The Supreme Court has directed Panther Fincap and Management Services, owned by former stock broker Ketan Parekh, to deposit Rs 50 crore by September 11 or else face detention in civil prison.
In an order dated July 17, Supreme Court said Panther Fincap must pay up the sum to prevent detention.bank Bombay Civil Court Fincap Panther Parekh Rs stock Supreme
RBI's monetary policy review, macroeconomic data points and quarterly earnings would set the stock market trend in an eventful week ahead, say experts.
Announcement of and data will also influence sentiment, experts added.cent data experts Macroeconomic Mahindra monetary policy quarterly RBI review
Police leaders across the country moved quickly to distance themselves from — or to outright condemn — President Trump's statements about “roughing up” people who've been arrested. The swift public denunciations came as departments are under intense ...condemn country leaders moved outright police President quickly statements Trump
From Nifty50 hitting the historic 10,000-mark, a bevy of corporate (both domestic and global) releasing their June quarter results and high-voltage political drama in Bihar to stock market crash in Pakistan, the week was thrilling through and through.On Friday, the domestic equity indices took a breather after hitting fresh peaks for four straight sessions, amid heavy selling in pharma and bank stocks The S&P BSE Sensex snapped its five-day winning streak to close 73 points lower at 32,310 with HDFC (up 3 per cent) being the top gainer and Dr Reddy's (down 6 per cent) the worst laggard.The broader Nifty50 ended in the red, but closed above the crucial 10,000 level. The index ended at 10,014 with 22 components in the green and 29 in the red.On a weekly basis (July 21-July 24), the 30-share pack of BSE added 0.20 per cent while NSE's Nifty gained 0.48 per cent.During the week, while some financial results brought cheer to investors, a number of companies disappointed Street with their lower-than-expected numbers for Q1FY18.For instance, Rana Kapoor-led YES Bank posted an impressive 32 per cent rise in its net profit at Rs 966 crore, driven by strong loan demand.August bank cent Friday July market rate results stock The
Nine-year-old Dylan Harbin of California, is behind the letter that was read by White House spokeswoman Sarah Sanders on Wednesday.
In the letter, Harbin asks if US President Donald Trump will be his friend and Sanders replies, 'He would be more than happy to'.California Dylan Harbin House letter nine old Sanders White year
Eight of the 10 most valued companies together added Rs 62,997.73 crore to their market valuations last week, with and Bank emerging as the biggest gainers.
Barring and HUL, rest eight companies, including Reliance Industries Ltd (RIL), ITC, and Maruti Suzuki, saw a rise in their (m-cap) for the week ended Friday.bank cap cent companies gainers HUL Maruti Rs crore valuation valued
Eight of the 10 most valued companies together added Rs 62,997.73 crore to their market valuations last week, with HDFC and HDFC Bank emerging as the biggest gainers.Barring TCS and HUL , rest eight companies, including Reliance Industries Ltd ( RIL ), ITC , SBI and Maruti Suzuki , saw a rise in their market capitalisation (m-cap) for the week ended Friday.Among the gainers, HDFC's valuation zoomed Rs 22,650.95 crore to Rs 2,84,140.36 crore.The m-cap of HDFC Bank jumped Rs 19,579.63 crore to Rs 4,58,002.04 crore while that of State Bank of India (SBI) soared Rs 7,639.37 crore to Rs 2,58,270.95 crore. ONGC 's valuation advanced by Rs 192.5 crore to Rs 2,11,363.38 crore.In contrast, the m-cap of TCS fell by Rs 1,560.15 crore to Rs 4,75,269.75 crore and that of Hindustan Unilever Ltd (HUL) slipped Rs 963.19 crore to Rs 2,49,800.85 crore.In the ranking of top-10 firms, RIL retained its numero- uno position, followed by TCS, HDFC Bank, ITC, HDFC, SBI, HUL, Maruti, Infosys and ONGC.Last week, the Sensex climbed 280.99 points, or 0.87 per cent, while the Nifty gained 99.25 points, or 1 per cent.bank cap HDFC HUL ITC market RIL Rs crore SBI TCS
Early Friday morning, three Republican senators broke with their party and scuttled the so-called "skinny repeal" health care bill, thwarting the GOP's efforts to undo the Affordable Care Act for the foreseeable future. While it was Arizona Senator ...broke care early Friday morning party Republican scuttled Senator so
Contribution of the country's small towns to mutual funds asset base surged 46 per cent to Rs 3.5 lakh crore by June-end due to initiatives taken by markets watchdog Sebi and the sectoral regulator Amfi Mutual funds' assets under management (AUM) from B15 locations - small towns beyond top 15 (T15) cities - grew from Rs 2.42 lakh crore in June-end 2016 to Rs 3.54 lakh crore at the end of June 2017, according to latest data available with Association of Mutual Funds in India (Amfi). A large proportion of direct investments were in non-equity oriented schemes where institutional investors dominate," Amfi noted.Together, all 42 mutual fund houses managed assets worth Rs 19.52 lakh crore at the end of June 30, 2017, a growth of 36 per cent from Rs 14.41 lakh crore managed by the industry by June-end last year.asset B15 cent equity institutional June lakh crore locations Rs lakh T15
Overseas investors have pumped a staggering USD 4 billion into the Indian capital market this month, primarily due to "better prospects" of economic growth as compared to other emerging markets.The latest inflow follows net infusion of Rs 1.6 lakh crore in the previous five months (February-June). In January, they had pulled out Rs 3,496 crore.capital crore Indian investors market overseas pumped Rs staggering USD