Newsmakers: RBI holds rates, Bharti airtel reports 40% rise in Q1 profit and more

RBI keeps repo rate unchanged at 7.25%

Rebuffing pressure from the government to reduce cost of borrowing, RBI Governor Raghuram Rajan on Tuesday kept interest rates unchanged at 7.25 per cent as also the cash reserve ratio (CRR) at 4 per cent, citing a spike in food prices and banks passing on to consumers only less than half of its previous rate cuts.

Bharti Airtel reports 40% rise in Q1 profit

Telecom major Bharti Airtel's net profit for the fiscal first quarter beat expectations while rising 40.2 per cent on year, helped by strong data revenue growth and a one-time net gain, which offset continued pressure on its voice business, a rise in interest costs and forex and derivative losses.

The Sunil Mittal-led firm's net profit grew to Rs 1,554 crore from Rs 1,108 crore a year ago.

Govt ready to accept recommendations of Parliamentary panel on land bill

The National Democratic Alliance-led (NDA) government on Tuesday expressed readiness to accept recommendations of the Parliamentary panel on the crucial  land bill , which restored provisions of the United Progressive Alliance's (UPA) law, insisting that it was not a climb down as it was always open to changes on which there is consensus.

Sebi tells  investors to be alert about open offers from companies

Market regulator Sebi asked investors to be 'alert' about public announcements of share purchase plans of the companies where they have invested.

A company needs to issue a 'public announcement' in newspapers and through stock exchanges for the benefit of investors whenever they need to acquire shares from the minority shareholders including in cases of delisting and takeovers, the market regulator said.

DLF seeks shareholders nod to raise up to Rs 7,500 crore

Realty firm DLF is seeking shareholders' approval to create charge, lien or pledge on its over 50 per cent shares in three subsidiaries, which holds rental commercial assets, for raising up to Rs 7,500 crore.

In a notice to the AGM, DLF has sought shareholders' nod through special resolution to create charge, lien, pledge and other encumbrances of any nature/kind, exceeding 50 per cent of the company's shareholding in the material subsidiaries-DLF Cyber City Developers, Caraf Builders & Constructions and DLF Assets.