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GIC Housing Finance to disburse Rs 750-cr housing loans
With demand for real estate picking up, General Insurance Corporation of India (GIC) Housing Finance is targetting disbursal of Rs 750 crore housing loans this year, a top official of the institution has said.

Cash for OMCs to cut losses
The Centre has indicated that it would consider giving direct cash subsidy to state-owned oil marketing companies this year, instead of bonds, to compensate them for selling cooking fuel at lower than market price.

News of the day

Maruti to expand Manesar factory capacity by 40% in two years
Maruti Suzuki plans to expand its passenger vehicle production capacity at Manesar, near here, by around 2,00,000 units over the next two years, said R C Bhargava, chairman. Currently, the plant at Manesar, the company’s second, which produces the company’s new models like the Swift, A-Star and the Ritz, has a capacity of around 3,00,000 units.
Corporate

Viceroy Hotels gains on QIP plans

Viceroy Hotels ended at Rs 54, higher by Rs 1 or 2.6%, on the BSE. - Viceroy Hotels to raise Rs 70cr via QIP - Viceroy Hotels to raise Rs 70 cr via QIP - Shoppers Stop gets shareholders nod for QIP issue - Hindalco closes QIP, fixes Rs 131 as issue price - Aban Offshore opens bids for Rs 1,000-cr QIP issue - DCB to raise up to Rs 100 cr via QIP issue The volumes surged to 7.44 lakh shares as against the two-week average of 4.23 lakh shares. ------------------------------------------------------------------------------------------------(Updated at 1015am) Viceroy Hotels has hit the 5% upper circuit in early trades this morning on QIP plans. The company is planning to raise an amount of up to $15 million (approximately Rs 70 crore) through a qualified institutional placement (QIP) of equity shares not exceeding 10 million of Rs 10 each at a premium. The board also okayed the additional term loan sanctions of Rs 113 crore from Canara Bank, IDBI Bank, Allahabad Bank, Syndicate Bank and Lakshmi vilas Bank to part finance its Bangalore hotel project, the company said in a filing to the BSE. The stock is currently locked at the 5% upper limit level of Rs 55.65, with pending buy orders for over 64,000 shares. So far 430,092 shares have changed hands at the counter on the NSE.


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