Briefly Business: Torrent Pharma Q4 net loss at Rs 97 lakh

RINL submits DRHP to Sebi for IPO

New Delhi: State-run Rashtriya Ispat Nigam (RINL) has submitted draft red herring prospectus (DRHP) with market regulator Sebi to divest 48.898 crore shares or 10 per cent stake through an initial public offer (IPO). The issue price would be determined through the book building route,the company said.

Route Equity Scheme via MF: Sebi to govt

NEW DELHI: Market regulator Sebi has suggested to the finance ministry that the proposed Rajiv Gandhi Equity Savings Scheme should allow investments through mutual funds. “Our understanding is,those individuals whose income is less than Rs 10 lakh per annum have less knowledge of markets,” said Sinha,adding that generally it is the first time small investors who become victims of market manipulation. The move would also help revive MFs as a savings instrument since their popularity is on the wane,said Sinha.

Pilots’ union taps political channels in bid to reach aviation minister

NEW DELHI: The union leaders of Indian Pilots’ Guild (IPG),which represents nearly 240 pilots belonging to the pre-merger Air India,have been trying to reach out to aviation minister Ajit Singh by tapping political channels,said sources. In a related development,a day after The Indian Express reported that Air India had included the names of two pilots — one who quit to join Emirates and other who had reported to work — in the list of 11 whose licenses were recommended for cancellation,the DGCA has sought a clarification from the airline on these two names. Sources in the airline said that they expected the strike to be called off in a day or two.