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Banks have to cut deposit rates for bond yields to fall: RBI
Reserve Bank Deputy Governor, K C Chakrabarty, today said that rise in bond yields was not a concern for the central bank and yields would come down only if banks cut their deposit rates.

NTPC plans 100 Mw solar projects in Gujarat
Powering its way ahead in tapping renewable energy sources for power generation, public sector power utility NTPC (formerly National Thermal Power Corporation) has set the ball rolling for its two solar thermal units of 50 Mw each in Gujarat. The company has firmed up its plans to initially install a solar power generation capacity of 100 Mw in the state, which may go up to 300 Mw at a later stage.

News of the day

BoB net jumps 17.5%
With a modest rise in net interest income (NII) and decline in treasury income, Bank of Borada (BoB) has posted a net profit growth of 17.5 per cent to Rs 832.49 crore for the quarter ended December compared to Rs 708.37 crore recorded in the same period of the previous year.
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India Cements to raise stakein Indo Zinc

The southern cement major India Cements is going to considerably increase its recently acquired holding in Indo Zinc in Rajasthan. Indo Zinc holds a limestone mining lease in Rajasthan — an indispensable input for manufacturing cement. Sensex ends up 35pts N Srinivasan, managing director, India Cements, said: “We have implemented our Rajasthan project under Indo Zinc and the company is going to infuse a lot of money in terms of equity to take our holding in Indo Zinc significantly higher.” The company also has kept its option to acquire the entire stake in the future. The recent acquisition has put the total valuation of Indo Zinc at Rs 10 crore. India Cements has announced a capex plan of Rs 600 crore for the Rajasthan project, which also includes a 20-Mw captive power plant. Half of it will come in terms of equity and the rest will be from debt. The orders for equipment have already been placed and construction has begun. The company expects to operationalise the plant by the middle of next year. India Cements has a capacity of 13.5 million tonnes per annum, which will rise to 15 million tonnes once the Rajasthan project becomes operational.


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