United Bank of India: United bank to hold board meeting on December14 to consider and approve raising of capital for an amount not exceeding Rs3000 crore by way of preferential allotment of equity shares
Bharti Airtel: General Tax Directorate of Niger has ordered the closure of the offices of Airtel Niger, seeking tax amounts that have been disputed by Airtel Niger. Airtel Niger said it remained hopeful of an early amicable resolution to this unfortunate situation in the interest of its over 4.4 million customers, over 500 direct and indirect employees and over 50,000 retail shops & outlets.
NMDC: Iron ore producer NMDC Ltd has cut prices effective 1December. This should offer some fillip to its volumes. These price cuts alsotranslate into a small reversal of price hikes taken by the company over thecourse of this fiscal year. Therefore, the impact may not be very significant. Inearly November, the Karnataka state government approved the mining lease ofDonimalai the iron ore mine in Karnataka on payment of 80% of revenues as leaserental. This made the operations of the mine economically unviable and forcedthe company to halt production.
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