The Securities and Exchange Board of India (Sebi) has banned P S Saminathan, former chairman of Pyramid Saimira Theatre, from dealing in securities in any manner for 10 years, for allegedly inflating profit and revenues. Saminathan has also been barred from being a director in any listed…

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Alex Kennedy, Associated Press, On Thursday December 23, 2010, 2:44 am SINGAPORE (AP) — Oil prices rose to fresh two-year highs near $91 a barrel Thursday in Asia as a U.S. stock market rally boosted optimism that demand will improve. Benchmark oil for February delivery rose as hi…

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State-owned Indian Oil Corp (IOC) is losing Rs 118 crore a day in revenue on selling diesel, domestic LPG and kerosene below their imported cost, a company official said today. “We are losing very heavily on diesel after international oil prices firmed up to $90 a barrel,” he…

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This is the bank’s second attempt to foray into the Indian market after 2009. Goldman Sachs, the world’s most profitable investment bank, is finally set to launch its Indian mutual fund business in 2011, people familiar with the matter have said.The Wall Street behemoth might also lo…

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Ketan Parekh is trading in dozens of stocks, according monthly intelligence reports. Top ministry officials have been getting these reports regularly. But why are they sitting idly, and why is SEBI keeping mum? Ketan Parekh has been banned from trading in securities from December 2003 ti…

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Private equity funds will submit final bids early this week to buy a stake in India’s Patni Computer Systems, a business daily reported on Monday, without naming its sources. A consortium that includes Carlyle and Advent and a rival grouping of IT services firm iGate Corp and Apax …

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To buy more than 40 million shares since 30th September 2010, LIC would have had to pick up more than 8,00,000 shares a day; but the delivery numbers just don’t add up The September shareholding pattern of Oil & Natural Gas Corporation (ONGC) shows that Life Insurance Corporat…

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The government-owned Punjab &; Sind Bank (P&S) has priced its initial public offer at Rs 113-120 a share. P&S Bank, the only nationalized bank that remains unlisted, will raise Rs 452 crore to Rs 480 crore through this issue. The issue opens on December 13 and closes on Dec…

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Initial public offering of Punjab & Sind Bank subscribed 29.77 times on day three. It received bids for 1,190.65 million shares as against 40 million shares on offer. A total of 77.57 million bids were received at cut-off price. The price band has been set at Rs 113-120 a share. The…

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Anil Dhirubhai Ambani Group (ADAG) companies, Reliance Power and Reliance Communications, will sew up about $3 billion in loans from mostly Chinese banks, officials said on Wednesday. Utility Reliance Power has secured loans worth Rs 5,000 crore ($1.1 billion) from a consortium of three …

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