Briefly Business

An Empowered Group of Ministers on fuel pricing is likely to meet after the current Parliament session to discuss freeing petrol,diesel and cooking fuel prices from government control.

Decision on fuel prices after Par session

NEW DELHI: An Empowered Group of Ministers on fuel pricing is likely to meet after the current Parliament session to discuss freeing petrol,diesel and cooking fuel prices from government control. Industry sources said the EGoM may decide to free just the petrol price for now and approve marginal increase in diesel and LPG rates,they said.

Plan panels Sudha Pillai gets MoS status

New Delhi: Planning Commission secretary Sudha Pillai has been made the panels member secretary for the next two years with the status of a Minister of State. A 1972-batch IAS officer of the Kerala cadre,Pillai has also served as union labour and employment secretary.

KMB to consider stock split on May 11

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MUMBAI: Private sector lender Kotak Mahindra Bank (KMB) said its board will meet on May 11 to consider a proposal for the sub-division of its shares,which have a face value of Rs 10 each. The board will meet to consider a proposal for stock-split of the present value of its equity shares of Rs 10 each into smaller denominations as the board may deem fit.

Kirloskar buys Braybar Pumps of South Africa

MUMBAI: Water management solutions company Kirloskar Brothers (KB) said it has acquired the South Africa-based Braybar Pumps,which manufactures high head multi-stage pumps primarily used in coal and gold mines. The acquisition is done through KBs wholly-owned subsidiary Kirloskar Brothers International Netherlands.

Sensex down 172 pts on Greece debt woes

MUMBAI: The stock market fell 172 points on Monday mirroring weakness in European stocks over concerns if the $146 billion EU-IMF package approved Sunday to rescue debt-riddled Greece would work. Funds and investors booked profits at existing higher levels pulling the barometer index,Sensex,down by 0.98 per cent or 172.63 points to 17,386.08.

ICICI Bank to hire 7,000 this year

MUMBAI: ICICI Bank plans to increase its headcount by hiring 5,000-7,000 people this year,a top bank official said. We plan to hire around 5,000-7,000 people this fiscal. We have also declared bonus and increments for our employees, bank managing director and CEO Chanda Kochhar said after inaugurating the 2,000 th branch of ICICI Bank in Mumbai on Monday.

Axis Bank,Max New York in strategic tie-up

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BANGALORE: Axis Bank and private insurer Max New York Life Insurance today forged a 10-year strategic relationship for distribution of insurance product through the banks branches. It is a first of its kind tie-up in bancassurance which will provide customised life insurance solutions to the banks customers. PTI & ENS