Oil & Natural Gas Corp. is set to lead India’s top state resources companies in paying a record dividend as Prime Minister Manmohan Singh seeks to use part of their $27 billion cash hoard to fund his government’s deficit.
Indian Prime Minister Manmohan Singh ’s first cabinet reshuffle in almost two years targeted ministries blamed for rising food and fuel costs while passing up the chance to overhaul a government damaged by graft claims.
GVK Group, controlled by Indian billionaire G.V. Krishna Reddy, plans to raise $1 billion selling a stake in its energy unit to help fund the purchase of coal assets from a company owned by Australia’s richest woman.
India’s company executives are selling shares at the fastest pace since prices peaked 2 1/2 years ago, just as foreign investors pour record amounts of money into the best-performing major emerging market.