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New digest: Govt to issue recap bonds, Air India stake sale, and more

From Ruias taking tie-up route for Essar Steel bid to domestic brokerages cashing in on D-street party, BS brings you up to speed with latest news

BS Web Team  |  New Delhi 

news digest

Recapitalisation plan: Weak may not get growth capital Weaker are likely to be capitalised only to cover their provisioning requirements, while stronger would be provided capital for growth as well, sources in the finance ministry have said. Also, the Rs 1.35-lakh-crore worth of bonds — of the Rs 2.11-lakh-crore recap scheme offered by the government on Tuesday — would be issued by the government, senior officials confirmed. Read more Air stake sale: 14 firms in race to assist govt As many as 14 companies have expressed an interest to collaborate with the government in the role of transaction and legal advisors for the divestment of carrier Air Read more Ruias take Russian tie-up route for bid Russian financial services company VTB Capital is joining hands with the Essar promoters — the — to bid for Essar Steel, it is learnt. Read more Navy drops cherished dream of nuclear-powered aircraft carrier The Indian Navy’s second indigenous aircraft carrier, INS Vishal, will not be – as has been widely reported – an American-style, nuclear-powered “flat-top”.

Instead, it will be a conventionally powered 65,000-70,000 tonne vessel, housing some 55 aircraft and incorporating a state-of-the-art “electro-magnetic aircraft launch system” (EMALS) to catapult aircraft off the carrier. Read more Domestic brokerages cash in on D-Street party The record run-up in the has helped domestic brokerages — both pure-play and diversified — shore up revenues. The euphoria is reflected in the doubling of share prices of all major listed players this year. Read more

First Published: Fri, October 27 2017. 04:17 IST