Business Fwire News - Page 12

L&T may rope in equity partners for Hyderabad Metro

For the Rs 16,375 crore project, the equity will be Rs 3,439 crore, a consortium of banks will provide loans of Rs 11,478 crore and the government grant in the form of viability gap funding will be Rs 1,458 crore.

Land issues: Posco seeks more time for Odisha SEZ

Due to protests against land acquisition by the local villagers in Orissa, Posco has not been able to get the required land for development of its tax-free zone and the issue has been pending for several years.

Now, Rakesh Bharti Mittal resigns from IFCI board

Earlier, five directors of the company had already stepped down from the board. They are Sanjeev Kumar Jindal, Shobhit Mahajan, Atul Ashok Galande, S Shabbeer Pasha and Vijendra Singh Jafam.

Suzlon's REpower signs contracts for wind farm in UK

Suzlon Energy today said its UK-based unit REpower has signed two contracts for supplying turbines for a new wind farm in England.

Marico board approves restructuring of company biz

FMCG firm Marico today said its board has approved restructuring of the company's businesses and corporate entities with effect from April 1.

Bharti Infratel appoints Sunil Khurana as COO

Bharti Infratel said Khurana will be a member of the core executive council team of Bharti Infratel and report to the CEO Devender Singh Rawat

Bharti Infratel ropes in Sunil Khurana from GE as COO

Telecom tower firm Bharti Infratel today announced it is has appointed Sunil Khurana as Chief Operations Officer (COO) of the company.

Strong demand makes JSW Steel hike prices of products by 2%

JSW Steel has increased prices by about 2 percent or about Rs 750 per tonne across all categories for the current month.

Dr Reddy's Laboratories launches hair loss tablets in US

Drug firm Dr Reddy's Laboratories today said it has launched it's generic Finasteride tablets used for treating male pattern hair loss in the American market.

Air India may register cash positive in 2012-13

Air India's revenue also posted an increase of 6.5 percent during April-September this year at Rs 4,757 crore.

Kingfisher to pay Rs 14K to flier for luggage loss

The forum, however, refused to grant the claim of over Rs 48,000 sought by the flier.

HDFC Bank cuts lending rates by 0.1%

HDFC Bank has decided to cut its benchmark lending rates by 0.1 percent, making loans cheaper for its borrowers in the new year.

Ambuja Cements to invest Rs 2,000 crore in Rajasthan

India's third-largest cement maker, Ambuja Cements Ltd., plans to invest Rs 2,000 crore for a five million tonnes integrated cement plant in Rajasthan and the northern region of the country, a top company official said Friday.

Federal Bank grants stock options to employees worth Rs 114 crore

Federal Bank today said it has granted Employee Stock Options worth around Rs 114 crore to its employees this year.

Flight operations remain normal at IGI despite fog

All through the night the visibility did not dip below 1,100 metres on all three runways when airport witnessed moderate fog.

Flight operations normal at IGI airport after days of fog

Flight operations were badly hit at the IGI Airport due to dense fog for past three days leading to delay in schedules of hundreds of aircraft.

Sesa Goa acquires 49% stake in Liberian firm for $33.5 mn

Vedanta Group firm Sesa Goa today said it has acquired remaining 49 percent stake in Liberia's Western Clusters project for $33.5 million (about Rs 185 crore).

Nepal allows GMR to raise paid up capital in hydro projects

GMR, which is developing 900 MW Upper Karnali Project had requested the government to extend the license after it expired recently.

Power Grid to invest Rs 252 cr in two transmission projects

State-run Power Grid Corp today said its board has approved investments worth Rs 252.31 crore for two transmission projects.

Deccan Chronicle accepts resignation of independent directors

In September this year, the company's board had passed a resolution asking Corporate Debt Restructuring cell to rejig its existing debt. The total exposure of banks to Deccan Chronicle Holdings stands at around Rs 5,000 crore

Essar Shipping to convert Rs 800 cr of debt into dollar loans

Essar Shipping has said that it is planning to convert around Rs 800 crore of total Rs 5,500 crore debt into dollar loans to bring down the interest burden.

Tata Power to modernise Trombay plant's 500 MW unit by 2015

Tata Power expects to complete modernisation work of one of the 500 MW units at its long-running Trombay thermal plant, that would allow use of coal as a fuel for electricity generation, by early 2015.

M&M plans car plant in Andhra Pradesh

Mahindra & Mahindra, India's largest maker of sports utility vehicles, is planning to set up its small car plant in Andhra Pradesh.

ABG Shipyard wins orders worth Rs 485 cr from Indian Navy

Private sector ship-builder ABG Shipyard today said it has bagged a Rs 485 crore order to build a cadet training vessel for the Navy.

NIIT in pact with Ireland institute for digital marketing course

NIIT today said it has tied-up with Ireland's Digital Marketing Institute (DMI) and aims to train 25,000 students over the next three years in the digital marketing course.

KEC International wins orders worth Rs 612 cr

KEC International, an RPG Group company in the engineering, procurement and construction segment, said it has secured orders worth Rs 612 crore in last one month from various customers across the world.

Infosys to roll out Rs700 cr project for India Post in 2yrs

IT major Infosys plans to roll out in about two years, its Rs 700-crore project that would help India Post transform its banking and insurance operations cross 150,000 post offices in the country.

IFC may partner Religare in proposed banking foray

The International Finance Corporation (IFC), part of the World Bank Group, today said it is open to the idea of partnering with Religare Enterprises in its proposed banking foray.