19th October - THE FINANCIAL EXPRESS

Mitali Rajput
Mohit Kumar
Monika Jhamb
Group - 13 (Section - I)

SOLAR MISSION HITS FINANCE WALL
India’s solar power mission which envisages investments of about Rs 3 lakh crore by 2022, a key component of the national action plan on climate change, has been put in serious jeopardy by bankers loath to lend to solar projects.
Public sector banks and financial institutions says that they have no way to assess the commercial viability of these projects and would tread warily.
Bankers want to know who will compensate for the short fall if these plants fail to achieve minimum load factor.
the government is meeting bankers and solar power developers on Tuesday to discuss ways to finance solar projects.
A Oriental Bank of Commerce official said, If the government gives subsidy in the form of higher tariffs,then these projects could become a little easier to finance.
2) CWG GRAPH REPORT IN 3 MONTHS; OC TENURE EXTENDED
The government extended the tenure of the officials in the CWG organising committee (OC) to helping the investigations of the controversial Commonwealth Games and related projects within three months.
3) RISE IN OPERATING MARGIN HELPS L&T LOG HIGHER NET
Larsen & Toubro (L&T) on Monday posted a profit after tax of Rs 765 crore for the second quarter ended September 30,2010, an increase of 18% compared to Rs 580.4 crore in the corresponding period of the previous year.
a cumulative growth of L&T was 29% during the first half of the current year. The order book as on September 30, 2010, was1,15,393 crore.
4)COAL INDIA’S IPO SUBSCRIBED 34%; BIG FIIS YET TO APPLY
Rs15,000-crore initial public offering(IPO)of Coal India (CIL) got off to a reasonably good start with more than a third of the issue being subscribed to on the opening day by the foreign institutional investors.
In coal India, another institutionals like QIB quota subscribed 63%, HNI18%and retail investors 10%
5)SBI GETS APPLICATIONS WORTH RS 5,000 CRORE FOR RETAIL BONDS
State bank of India received applications worth Rs5,000 crore in response to its retail bond issue through which it had planned to collect only Rs1,000 crore.
SBI had approved raising tierII capital by way of a public issue of lower tier-II bonds for an amount of Rs 500 crore with an option to retain 100% over subscription.
The bonds have been rated AAA by Crisil and have a face value of Rs10,000 and do not carry tax-break like infrastructure bonds offered by IDFC, L&T Infra and IFCI,which offered lower coupon rate.
6)DEMAND -SUPPLY GAP TO KEEP ONION PRICE ON HIGHER SIDE
Steady demand because of ongoing festive seasons and less than adequate arrivals have led to wholesale onion price stabilised at Rs 1,600-1,700 per quint at present against Rs700 prevailed
just two months back.
7)TIGHT CONTROL OVER IPHONE SOFTWARE MAY HURT APPLE
Americans now are buying more Android phones than iPhones. If that trend continues, analysts say that in little more than a year,Android will have erased the iPhone’s once
enormous lead in the high end of the smart phone market.