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OMCs turn to CPs, debentures as credit needs rise
Oil marketing companies (OMCs) are increasingly going in for debentures and commercial papers for meeting their short-term credit requirements. The largest petroleum marketer, Indian Oil Corporation, has raised around Rs 5,000 crore and Hindustan Petroleum Corporation has raised Rs 2,000 crore through sale of commercial papers (CPs) over the past two months. Bharat Petroleum Corporation recently raised Rs 1,000 crore through debentures.

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Telangana issue: We have full confidence in UPA, says TRS
TRS today said it is confident that the UPA leadership will fulfill the announcement it made for the formation of a separate Telangana state despite vehement opposition from other regions of Andhra Pradesh over the issue.
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Bajaj Electricals raises Rs 161 cr via QIP

Bajaj Electricals today said it has raised Rs 160.79 crore by issuing shares to qualified institutional buyers. - Bajaj Electricals up 5.5% - EdServ Softsystems to raise $25 mn to fund expansion - ITNL to raise Rs 700 cr through IPO - Piramal Healthcare okays Rs 1K cr fund raising - GlobalLogic to get listed in 18 months - Citi overtakes Morgan Stanley to top in domestic fund raising The issue committee at its meeting held on December 9 had approved the allotment of 20.48 lakh shares, at Rs 785 a piece to qualified institutional buyers (QIB)s, aggregating to Rs 160.79 crore, Bajaj Electricals said in a filing to the Bombay Stock Exchange. The issue opened on December 7 and closed on December 9, 2009. Shares of Bajaj Electricals were trading at Rs 797 on the BSE, up 0.70 per cent from its previous close.


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