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Dubai World debt concerns drag realty stocks in red
Realty stocks crashed on the Bombay Stock Exchange (BSE) today on fears of a debt crisis in Dubai raised by Middle East"s largest property firm Dubai World asking creditors if it could defer repaying $60 billion in loan until may next year.

Sobha set to raise another Rs 250 cr from land sale
Sobha Developers, the Bangalore-based realty player, is set to raise another Rs 250 crore by selling a little over 100 acres of its land in Pune. The company has been making headway to settle a part of its Rs 1,900 crore debt by selling part of its 3,000-acre land bank spread across the country. Sobha recently raised close to Rs 530 crore through the Qualified Institutional Placement (QIP) route. With a debt of Rs 1,900 crore, the company was leveraged 1.6 times and it is understood that a part of the proceeds from QIP is being used to settle a part of that.

News of the day

Food laced with drugs: Kasab
Pakistani gunman Ajmal Kasab has complained to the 26/11 terror trial court that food given to him in jail is laced with tranquilisers, but medical experts say there is no truth in his allegations, special public prosecutor Ujjwal Nikam said here today.
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Strike in SAIL plants postponed

The proposed All India strike from tomorrow in different steel plants under Steel Authority of India (SAIL) has been postponed following an assurance by the authorities. - Bandh paralyses life in non-Telangana regions of AP - No major strike in "09 but challenges remain for Home Min - AP in a political bind over Telangana in 2009 - Telangana crisis: Five fasting students shifted to hospital - Colgate"s Aurangabad factory hit by strike - Pranab hopeful of resolution of Gorkhaland through talks Centre of Indian Trade Unions" (CITU) state general secretary Bishnu Mohanty said the indefinite strike, which was to begin tomorrow, was postponed following assurance by the SAIL Chairman that the demand of wage revision will be considered in the January 11-12 national joint council meeting.


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