SBI Announces 150% Interim Dividend

The central board of State Bank of India (SBI) on Monday declared 150% interim dividend for financial year 2013–14. The amount calculated would be Rs. 15 per equity share of Rs. 10, SBI said in a filing to the BSE.

 

The date of payment of the interim dividend is fixed as 2 April and the dividend warrants will be payable at par at all branches of SBI, irrespective of the amount, it said. Shares of SBI closed at Rs. 1,518.50 apiece, down 0.86 percent on the BSE.

 

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Supreme Court to hear Nokia's tax evasion case

Nokia India is due to be heard by Supreme Court on Monday over the alleged tax evasion case. It is alleged that the Finnish handset company has TDS dues around Rs. 30 billion pending. Nokia had appealed SC on 12 February against Delhi High Court’s decision.

 

Delhi HC imposed new conditions stalling the deal in which Nokia was to transfer its India plant to Microsoft. The mobile major was in the process of selling its handset business to Microsoft. It is in Nokia’s contention that owing to the ruling by Delhi HC, jobs of 30,000 employees are at stake

 

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Divesting The Block Deal: EGoM To Price 10% IOC Shares To Be Sold

Empowered Group of Ministers (EGoM) shall on Saturday decide the price at which 10% shares of Indian Oil Corporation are to be divested. The panel of ministers shall be headed by Finance Minister P Chidambaram. ONGC and OIL shall each buy 5% stake in IOC.

 

The 10% shareholding in IOC to ONGC and OIL shall be offered at a discount of about 10% to the current price. ‘The EGoM on IOC disinvestment will meet tomorrow to decide on price of sale to ONGC and OIL’, an official said.

 

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Here is how Sahara Chief Subrata Roy can avoid arrest under non-bailable warrant

 

 

 

Subrata Roy is sailing amidst trouble waters and is now all set to be arrested under a non-bailable warrant issued by Supreme Court of India on Wednesday. The warrant was issued because Roy failed to appear as summoned in person before SC on Wednesday.

 

The Sahara India Chief has long evaded law by playing hide-and-seek. Patience of the apex court has come to a climax and SC came down heavily on him for nor refunding Rs. 24 crore to investors and SEBI. In such a situation, Roy has not many options at his behest to save himself.

 

 

 

Also read:

Here is all you want to know about Sahara Chief Subrata Roy and his scam

Subrata Roy summoned to appear in Supreme Court

 

Hyderabad Is Cheapest Office Space Market In The World: DTZ

 

The Silicon Valley of India has been thrashed brutally by the Telangana ruckus. The whole commotion took a toll on the commercial value of Hyderabad. The Indian city has become the world’s cheapest office location due to political instability coupled with depreciated Indian national Rupee (INR).

 

Other four Indian cities – Chennai, Pune, Bengaluru and Kolkata – have been included in the list of top 10 most affordable office space market in the world by global realty consultant DTZ. The city overtook Surabaya, Indonesia, as the least expensive market in 2013.

 

‘Devaluation of the Indian rupee in combination with declining rents led to Hyderabad overtaking Surabaya (Indonesia) as the least expensive market in 2013’, DTZ said in a report

 

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Online Shopping Getting Dearer! E-Commerce To Expand By Rs. 50,000 Crore: Crisil

Global analytical agency Crisil has crunched data to reveal that E-commerce or online retail shall prosper hitting Rs. 50,000 by 2016 by growing at a rate of 50–55% over the next 3 years. This shall be 30 times over the size at the end of FY’08 (financial year 2007–08).

 

The expansion shall be seen in both direct and indirect (market places) online retail. The fastest growing E-commerce industry’s revenues have grown from Rs. 1,500 crore in FY’08 to Rs. 13,900 crore in FY’13, a compound annual growth rate of 56%.

 

‘From around 8% share of the organised retail market in India now, online retailing will zoom to around 18% by 2016. But as a proportion of overall retail -- including the massive unorganised segment -- it will be just over 1% at the end of that year. Yet the potential is huge’, said Director – Industry Research – Rahul Prithiani.

 

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Super Summer Sale: SpiceJet Slashes Airfare By 75%, Book Your Flight Today

Since the last two attempts of SpiceJet to entice air travellers by offering heavy discounts on flight charges worked really well, the budget carrier in yet another bonanza at the onset of 2014 summer season has on Monday reduced its fares by up to a whopping 75% under a special offer.

 

The Kalanithi Maran promoted carrier has slashed fares to avail early summer bookings. The bookings under the 'super summer sale' offer will remain open till Wednesday mid-night, SpiceJet said in a release here on Monday.

 

‘Super summer sale offers up to 75% off base fare plus fuel surcharge relative to last minute fares, for travel between 1 April and 30 June, 2014’, the airline said.

 

The offer comes after the overwhelming success of the earlier two similar schemes and aimed at making those seats available to passengers at highly discounted advance purchase rates, which would otherwise go empty, the release said.

 

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