Briefly Business: Fixing high reserve price for 2G was a ‘mistake’: Montek

Fixing high reserve price for 2G was a 'mistake': Montek

New Delhi: Days after the auction of spectrum evoked a tepid response, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said it was a "mistake" to have a high reserve price and there was need to relook at the price during the second auction planned later.

OVL plans to raise $1 bn via $ bonds issue

New delhi: ONGC Videsh Ltd plans to raise about $1 billion through a dollar bonds issue early next year to fund its recent acquisition in Azerbaijan.

DLF: Compat grants more time to CCI

New delhi: The Competition Appellate Tribunal on Wednesday gave two more weeks to CCI to complete draft modifications in the sale agreement between DLF and flat owners of two of the firm's housing projects.

'Cabinet to take up NIB proposal in 10 days'

New delhi: National Investment Board proposal will come up for approval before the Cabinet in next 10 days, DEA secretary Arvind Mayaram said.

SpiceJet to issue convertible securities

New delhi: SpiceJet on Wednesday said it would issue convertible warrants to its promoter, which could fetch the budget airline nearly Rs 200 crore at the current price.

HP accuses Autonomy of wrongdoing

NEW YORK: Hewlett-Packard Co stunned Wall Street by alleging a massive accounting scandal at its British software unit Autonomy and taking an $8.8 billion write-down.

Government to offload 4% in Hindustan Copper on Friday

The government will offload its 4 per cent stake in Hindustan Copper Ltd (HCL) on Friday making it the first public sector company to be put up for disinvestment this fiscal.

The disinvestment will be through the offer for sale (OFS) route, which means the issue is going to be open for one day for institutional investors to subscribe. "HCL disinvestment will happen on Friday between 9:15 am and 3:30 pm. The first tranche is only going to be 4 per cent," disinvestment secretary Halim Khan said. He added that floor price for the issue would be decided after the close of the equity market tomorrow.

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