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JPMorgan profit rises 7-fold on surge in fixed income
JPMorgan Chase & Co, the second- largest US bank by assets, said profit in the third quarter soared almost sevenfold, beating analysts" estimates, as fixed- income revenue surged.

Debt recovery tribunal cannot accept equity shares
The Delhi high court last week ruled that equity shares cannot be considered as liabilities under the Recovery of Debts Due to Banks and Financial Institutions Act. Therefore, a claim to issuance of shares or delivery of shares in place of debt repayment cannot be regarded as an action seeking the recovery of a debt as defined in Section 2(g) of the said Act. This ruling against the order of the debt recovery tribunal in Delhi came in the case, Cochin International Airport Ltd vs Hudco.

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PMO calls meeting on BSNL on January 6
The Prime Minister’s Office (PMO) has convened a meeting with the telecom ministry on January 6 to discuss the issues plaguing state-run telco BSNL, including its declining revenues and market share.
Public Relations

DB Corp fixes IPO issue price at Rs 212 per share

Media house DB Corp, the publisher of Hindi newspaper "Dainik Bhaskar", today said it has fixed the issue price of its initial public offer at Rs 212 per share, garnering Rs 384.22 crore through the offer. - Troikaa Pharma to put Sanand plan on hold till December 2010 - Vibha Seeds" IPO in 2 years - Sebi holds hearing on IPO scam - QIP shares jump 23%, IPOs lag - Vanita Kohli-Khandekar: The print media paradigm">Vanita Kohli-Khandekar: The print media paradigm - Newsmaker: Ramesh Chandra Agarwal">Newsmaker: Ramesh Chandra Agarwal The company has fixed the issue price for non-retailers at Rs 212 per share, while for the retail investors it would be Rs 210 -- a discount of Rs 2 per equity, DB Corp Ltd said in a statement today. At the issue price, the company successfully generated Rs 384.22 crore through the public offer. The firm, which publishes newspapers in three languages -— Hindi, Gujarati and English -— entered the capital market with a total issue size of 1.81 crore shares, including 32.71 lakh equities reserved for anchor investors, in the price band of Rs 185-212 a piece with the face value Rs 10 each. The IPO had received robust response from investors and got subscribed nearly 40 times, making it the best IPO in terms of investor demand so far this year. DB Corp Ltd"s public issue, which opened on December 11, closed on December 15. The IPO constitutes about 10 per cent of fully diluted capital of the company.


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