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New Delhi : The finance ministry is examining the possibility of merger of two state-run financial institutions India Infrastructure Finance Company (IIFCL) and IFCI to create a bigger financing firm for the sector. The proposal is under the active consideration of the ministry so that the huge deficit, which infrastructure space has, can be bridged, a senior finance ministry official said.
New Delhi, State-owned term lender IFCI will sell its entire stake in Assets Care and Reconstruction Enterprise Limited (ACRE) to Axis Bank for Rs 22.72 crore.
New Delhi: State Bank of India (SBI) plans to sell part of its holding in National Stock Exchange (NSE), where it owns 15 % stake. SBI intends to disinvest up to 5 % of its equity holding in NSE through a competitive bidding process, a public notice said.
IFCI said it has sold 1.5 lakh shares at Rs3,950 per share. It did not disclose the name of the buyer
New Delhi : Infrastructure term lending firm IFCI Ltd said its net profit rose by 15 % to Rs 154 crore for the third quarter of 2015-16 on higher interest income and lower cost of funds. Total income increased to Rs 947.15 crore for the quarter ended December 2015. Of this, operational income constituted Rs 897 crore, up 8 % from Rs 834 crore last year, IFCI Chief Executive Officer and MD Malay Mukherjee said.
The board also gave an approval for disinvestment of entire stake in Assets Care and Reconstruction Enterprise Limited (ACRE)...
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