Grapevine
JS Deepak has taken over as chairman and managing director of the State Trading Corporation. Of late, the company has been showing signs of sickness, attracting the attention of government advisor on PSU restructuring. Deepak is an IAS officer with vast administrative experience, and hope is now pinned on him to reverse the STC’s sagging fortunes.
Testing power
Power Finance Corporation has hit the market with its R4,950 crore-tax free bond issue at a time when market conditions look challenging. Considering the tepid response peer REC got for a similar issue, can PFC successfully sell its current bond issue? Some believe the improved financial performance of PFC under chairman Satnam Singh and falling interest rates could see the issue through.
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