India News

The notification on the Employee Provident Fund (EPF) rate for the current fiscal will be issued very soon, labour minister K Chandrasekhar Rao said on Tuesday, but declined to reveal whether the interest rate would be increased.

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Private sector ICICI Bank has managed to offload its 4.81% stake (aggregating to 31.5 lakh shares) and the bank has mopped up Rs 51.29 crore by selling the shares of Federal Bank in south-based Federal Bank .

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Come January 18, ‘06, and all eyes will be on how Reliance Industries (RIL), in its post-demerger form, fares on the bourses. Both BSE and NSE have announced a special trading session on that day, January 18.

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The Securities and Exchange Board of India (Sebi) on Tuesday suspended the certificate of registration of Kolkata-based broker Mukul Bhattacharjee for rigging the share prices of Blue Print Securites and Offshore Finvest Limited through a series of cross and matched deals.

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The Reliance (RIL) demerger process has raised several questions for investors who are wondering how things will actually work out in terms of price. What is notable is that the impact might not only be on holders of RIL shares but also on several other investors who might become part of the action.

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