Government invests Rs 508 cr in Corporation Bank

corporation-bankGovernment of India invested Rs 508 cr into Corporation Bank, raising its stake from 67.2% to 70.76%.

The investment came in the form of fresh purchase of equity at a price of Rs 40.78 per share.

The shares are currently trading at Rs 44.70. They rose by 3% today on the NSE.

Corporation Bank is a public sector banking company headquartered in Mangalore with pan India presence with about 2200 branches.



Allahabad High Court says Triple Talaq ‘unconstitutional’ The Allahabad High Court has today said 'triple talaq' or the divorcing of women under Islamic laws -- is unconstitutional in Indian law.The provision "violates women's rights" and no personal law board is above the Indian constitution, the court said while hearing a petition filed by a Muslim woman from Bulandshahr.The constitution of India assu...
7 ILLOGICAL REASONS to oppose DEMONETIZATION The current demonetization move by the Narendra Modi government has seen a lot of accusations and counter-accusations being levelled by both the supporters and opponents of the move.While the government has tried to deal head on with the official accusations levelled by opposition political parties, a much more subtle misinformation campaign is going o...
Infosys invests Rs 14.5 cr in Danish artificial intelligence startup UNSILO Technology services provider Infosys said it made an investment of 14.92 mln Danish kroners in Danish startup UNSILO from its innovation fund.UNSILO is a Danish artificial intelligence startup founded in 2012 and focus on advanced text analysis.It uses a combination of machine-learning and natural language processing to analyze large quantities of t...
Minister refuses to answer Parliament on amendment to anti-corruption bill The ministry of personnel, public grievances and pensions has refused to provide an answer to the Parliament on whether the proposed amendment to the Prevention of Corruption Act will make investigation of corruption charges against officials difficult.The ministry -- which oversees all administrative matters relating to central government employees ...
40% of High Court judge positions are vacant, 30% in trial courts A large proportion of the posts for judges in the various High Courts in India are lying vacant, resulting in painfully slow dispensation of justice, according to law ministry numbers.Out of a total of 1079 posts of judges in all the High Courts in India, a whopping 442 are lying vacant as of last week. This translates to a vacancy of 41% in the High Cou...
Infosys invests TidalScale, provider of simple supercomputing software Technology provider Infosys said it made investment in TidalScale, a provider of software-defined server.No details about the financial aspects of the investment were made public.TidalScale's offering, in many ways, is the opposite of virtualization. While virtualization allows you to split a single hardware-based server into several virtual serv...
RPP Infra Projects wins Rs 254 mln contract from TN Civil Supplies RPP Infra projects Ltd said it received a contract worth Rs 254 mln from Tamil Nadu Civil Supplies Corporation to construct scientific storage godown at Kodavasal village & taluk in Thiruvarur district.The godown is of 2500 MT and is to be completed within 24 months.R.P.P Infra Projects Ltd, founded in 1988, is a construction company located at E...
NPA Crunch: Lypsa Gems repays Rs 7.5 cr to Bank of India, sets an example Lypsa Gems and Jewellery Ltd said it reduced its secured debt by 25% by repaying a loan of Rs 75 mn to Bank of India.As of today, its debt stands at Rs 235 mn, down from Rs 31O mn as of 31st March 2016, it said. Debt Equity Ratio has dropped from 1.03x to 0.75x.Lypsa is amongst one of the very few diamond Companies to have initiated Debt Repayment....
J&K to get new IIM campus with Rs 62 crore investment The Government has approved the establishment of Indian Institute of Management at Jammu in a temporary campus at Old Government College of Engineering & Technology from the Academic Year 2016-17.The project will involve a cost of Rs 62 crore in temporary campus for the initial four years from 2016 to 2020, said the government.The student strengt...
Cauvery Dispute: Centre constitutes high level technical team Govt of India has constituted a high level technical team to visit the Cauvery basin area on the 7th of this month to assess the ground realities in the basin.The team will meet at Bengaluru for a preparatory meeting and subsequent visit to the Cauvery basin area for assessing the ground realities and submit a report to the Supreme Court on the 17th this...
Premier Explosives secures Rs 27 crore order from Bharat Dynamics Limited Premier Explosives, a Hyderabad based commercial explosives manufacturer, said it has won a Rs 27.7 crore order from Bharat Dynamics Limited for the supply of booster grains.The order will be delivered by end of June next year, said the company.Booster grains are used as solid fuel for missiles.Premier had delivered the 1,000th Akash missile boos...
Canara Bank chosen partner for India’s Higher Education Financing Agency Canara bank said it has been chosen as the joint venture partner by the government of India for the establishment of a Higher Education Financing Agency.The Higher Education Financing Agency or HEFA is a not-for-profit agency with initial capital base of Rs. 1000 Crore and was announced in the last budget.It would be set up under Companies Act and w...
Government comes up with amended anti HIV discrimination bill The government is likely to come with an amended HIV and AIDS (Prevention and Control) Bill, 2014, which was approved by the cabinet today.The HIV and AIDS Bill has been drafted to safeguard the rights of people living with HIV and affected by HIV.The provisions of the Bill seek to address HIV-related discrimination, strengthen the existing programme...
Govt launches central monitoring of all bridges in India To ensure the safety of bridges in the country Road Transport & Highways and Shipping Ministry launched the Indian Bridge Management System.IBMS is developed to create an inventory of all bridges in the country and rate their structural condition so that timely repair and rehabilitation work can be carried out based on the criticality of the structu...
Wadhwan Global increases stake in Devan Housing, invests Rs 375 cr Home loan and housing finance company Dewan Housing Finance Co Ltd said it issued 2.12 crore shares to promoter Wadhawan Global Capital Pvt Ltd. as part of conversion of outstanding warrants.The warrants were issued in March after taking a payment of Rs 125 crore. The remaining Rs 375 crore has been paid upon conversion.The conversion implies a pric...