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AAI expects user fees to up its annual earnings by Rs 100 cr
The Airports Authority of India (AAI) expects its annual earnings to grow by Rs 100 crore once it receives approval from the Ministry of Civil Aviation to charge user development fee (UDF) at nine airports. “We will annually earn around Rs 100 crore by charging UDF at eight of our airports. We have sent our request and will start charging as soon as we receive the approval,” said a senior AAI official who did not wish to be named.

Car loans: Just rates are not enough
Many smart buyers wait for the year-end to buy a car. Auto makers and dealers come up with the best discounts in the month of December to clear stocks. But if you are planning to buy a car any time soon, the current festive season could be an equally attractive opportunity, thanks to the availability of cheaper finance.

News of the day

Dollar buys, FII inflows take Re to 15-month high
The rupee on Monday hit a fresh 15-month high against the dollar. Dealers offered oil companies’ dollar buying and heavy inflow of funds from foreign institutional investors (FIIs) as reasons.
Corporate

Viceroy Hotels gains on QIP plans

Viceroy Hotels ended at Rs 54, higher by Rs 1 or 2.6%, on the BSE. - Viceroy Hotels to raise Rs 70cr via QIP - Viceroy Hotels to raise Rs 70 cr via QIP - Shoppers Stop gets shareholders nod for QIP issue - Hindalco closes QIP, fixes Rs 131 as issue price - Aban Offshore opens bids for Rs 1,000-cr QIP issue - DCB to raise up to Rs 100 cr via QIP issue The volumes surged to 7.44 lakh shares as against the two-week average of 4.23 lakh shares. ------------------------------------------------------------------------------------------------(Updated at 1015am) Viceroy Hotels has hit the 5% upper circuit in early trades this morning on QIP plans. The company is planning to raise an amount of up to $15 million (approximately Rs 70 crore) through a qualified institutional placement (QIP) of equity shares not exceeding 10 million of Rs 10 each at a premium. The board also okayed the additional term loan sanctions of Rs 113 crore from Canara Bank, IDBI Bank, Allahabad Bank, Syndicate Bank and Lakshmi vilas Bank to part finance its Bangalore hotel project, the company said in a filing to the BSE. The stock is currently locked at the 5% upper limit level of Rs 55.65, with pending buy orders for over 64,000 shares. So far 430,092 shares have changed hands at the counter on the NSE.


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