Cabinet approved share sale in the state-run power transmission utility Power Grid Corp on Thursday, a government spokeswoman said.
The government plans to raise roughly $8.5 billion from share sales in state-run firms in the current fiscal year that ends in March 2011.
News beuro,

State-owned IDBI Bank will seek the approval of its shareholders for Rs 3,119.04-crore capital infusion by the government in its annual general meeting, to be held on Thursday.
The capital infused through preferential allotment of shares to the Government of India would augment capital adequacy, IDBI Bank informed the Bombay Stock Exchange.
The government currently holds 52.6 [...]

Bond yields may rise a little further before investor buying kicks in after the expected policy tightening at July-end, while easing inflation and improved government finances will boost sentiment, traders say. A rate hike in the July 27 monetary policy review may end the uncertainty on the interest rate front, while the higher yields may [...]

Bond yields ended steady after rangebound trade but swap rates rose on Tuesday as concerns over heavy debt supplies this week and prospects of further policy tightening by the central at the month-end policy review weighed.
The yield on the benchmark 10-year bond ended steady at Monday’s close of 7.61 percent. It had risen to 7.65 [...]

Two merger deals on two successive Sundays each valued over Rs 50,000 crore and the Anil Ambani group may not need public offers for Reliance Infratel and Reliance Power.
While Reliance Infratel initial public offer has been pending with the company late last year (it filed the draft prospectus for second time in over two [...]

The finance ministry is expected to ask market regulator Sebi to review selling shares through the present method of auctions in the face of a lukewarm response to follow-on public issues of state-owned companies.
In place of the so-called French auction method, the ministry is considering closed book building and allowing retail investors to buy shares [...]

The Delhi-based natural gas retailer Indraprastha Gas (IGL) jumped on the bourses on Friday following its announcement to raise compressed natural gas (CNG) prices to touch a historical new high above Rs 258. The scrip has outperformed the market in the past one year, gaining 83% as against an 18% rise in Sensex.
After the government [...]

Federal bond yields were at 10-day high after a media report quoting a government source said May inflation could be above 10 per cent due to high sugarcane prices. At 2:09 p.m., the yield on the 10-year benchmark bond was at 7.60 per cent, up seven basis points from Thursday’s close after touching 7.61 per [...]

Naveen Jindal-owned Jindal Steel and Power has launched a bid to buy a 60% stake in ailing Zimbabwe Iron and Steel Company (Zisco) in a deal that will deepen its presence in Africa and secure it significant iron ore reserves.
JSPL was drawn to the deal because the government-owned Zisco owns iron ore reserves of 100 [...]

India may fail to absorb a surging supply of stocks as increased sales “drag” on the market, after the government raised the minimum public holding for all companies, Credit Suisse Group said.
More than 200 companies may need to sell at least $13 billion of shares over the next 12 months, analysts led by Nilesh [...]