Oriental Bank plans to cut rates
Oriental Bank of Commerce plans to soon bring down its prime lending rates by 25-50 basis points. This will lower its prime lending rates from the current 12 per cent up to 11.50 per cent.
Mahindra Satyam exits businesses
Mahindra Satyam is cutting costs aggressively and has decided to give up on its unviable units in software technology parks across the country.
The company is learnt to have decided it is time to get out of unviable leased IT buildings in the country. Sources say the company has given up on close to 10 lakh square feet of IT space in Chennai and Hyderabad alone—both cities which housed Satyam’s biggest campuses.
“Infrastructure consolidation continues to be a key area of focus, wherein we have identified cost optimisation opportunities. We continue to take steps to rationalise our current capacity to keep it in line with current and anticipated needs,” Mahindra Satyam told CNBC-TV18.
Satyam was one of the largest occupiers of IT space in Chennai and Hyderabad. Analysts say this move will result in a sudden flood of available units.
In Chennai alone, 90 lakh square feet of IT property is already available. And, Mahindra Satyam’s move comes at a time when developers are desperately trying to find takers for the existing space. And with this extra space becoming available, developers will have to redouble efforts to find new takers.
Adani Power IPO Allotment Status and Grey Market Premium
Mahindra Holidays ipo saw a god response with 10 times subscription. So you can expect similar response to Adani Power IPO. Company is operating in Power Sector as the name suggests. So institutional Interest willbe huge.
Mahindra IPO saw Starting of grey market trades for ipo. Adani Power should see similar action.
Adani Power IPO Allotment status and Allocation details will be frst posted here.Check back soon.
Petroleum price deregulation
Petrol and diesel prices to go up soon as India is planning to deregulate fuel prices. But fuel subsidy is set to remain . So price will not be hiked entirely
Shocked on hearing Michael Jackson s death
I’m shoocked on hearing the news of death of Michael Jackson. I’m a great fan of him.. I grew up hearing his songs. Thriller and bad are must have in my I pod . We all miss him so much.
He is an extra ordinary person with huge music thirst.
No one can replace him. It’s impossile. I got tears wen I saw the news myself on tv.
I feel sad
GSPC IPO Again ?
GSPC plans to re launch its ipo again. lets see if they proceed. Will update more if any more info available
