Tata Steel's Advance Tax to Q4

The recent news from the Indian stock market is that the Q4 advance tax numbers have started flowing. According to the authentic source CNBC-TV18, the Tata Steel Company has paid 513 Crore Rupees while the L&T has paid Rs 270 Crore for the same.

Talking in terms of banks, the State Bank of India will possible pay in excess of Rs 1800 Crore. On the other hand, the BOB, that is the Bank of Baroda has paid Rs 300 Crore. Some other banks like the Central Bank of India, Dena Bank and Nabard has paid Rs 250 Crore, 30 Crore and 150 Crore respectively.

ICICI, the leading private bank has paid this amount as Rs 200 Crore. Mangalore Refinery, the renowned oil company has paid Rs 180 Crore.

General Electric agrees to buy Hyundai shares

General Electric Co, the world's second largest car manufacturer plans to expand its business in South Korea and agreed to buy Hyundai Motors share in their credit card unit. General Motors GE, that's based in Fairfield, Connecticut, will buy 204 billion won ($199 million) shares in the Hyundai Motors credit-card unit from South korea's largest automaker.



GE would buy shares from Hyundai Motor’s new equity issued by the credit-card company, that would bring its stake to 43%, Edaily reported. This share would enhance and expand GE's alliance with Hyundai Motors, ie South Korea's second largest automobile manufacturer. With this GE joins the league of Samsung, LG to recapitalize their credit card business.

The filing of the sharing mentions that GE would attain these shares in September. In order to buy the new-share credit the automaker would invest 143 billion dollars.