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News digest: Govt bank stocks on fire, RBI hails bank recap plan, and more

From GIP's $5-bn mega deal to govt's partial privatisation move for airports finding no takers, BS brings you up to speed with latest news

BS Web Team 

News Digest

on fire after recapitalisation plan

An index of state-owned banks rallied an unprecedented 30 per cent — the biggest single-day spurt ever — and the benchmark indices climbed to record highs on Wednesday, reacting to the Cabinet nod a day earlier to Rs 2.11-lakh-crore plan and Rs 6.92-lakh-crore highway construction project. Read more

RBI, Centre see leap in economy

Reserve Bank of (RBI) Governor Urjit Patel on Wednesday hailed the government’s plan, terming it a “monumental step forward in safeguarding the country’s economic future”. Read more

to buy global portfolio of for $5 bn

Singapore-based company Equis Energy, which has close to 900 Mw of assets in India, would sell its entire portfolio of 11,135 Mw to Global Infrastructure Partners (GIP), a leading infrastructure investor, for $5 billion. This would be the largest deal in the sector. Read more

No need for shareholder nod if NCLT clears resolution plan

In a letter to stakeholders, the Ministry of Corporate Affairs has said for the resolution plan to be approved, shareholders’ approval need not be sought separately. The ministry’s letter is in response to stakeholders, including lawyers asking for clarification on the issue. Read more

to shut 2G biz; forces users to shift to 4G or port out

Anil Ambani-led (RCom) has asked 60 per cent of its 81 million customers to migrate from using second generation (2G) services to 4G services, as it was shutting down the 2G business. This comes a day after the beleaguered company said it was shutting down its direct-to-home TV business. Read more

Partial finds no takers

The Airports Authority of India’s (AAI’s) tender for privatising terminal operations at Ahmedabad and Jaipur airports did not receive a single response. The last date for submitting bids was October 20. Read more

First Published: Thu, October 26 2017. 05:12 IST