ITC's investment arm Russell Credit has raised its stake in Hotel Leelaventure to 7.37 per cent --an increase of 2.26 percentage points. The promoters of Mumbai-based Leela group, meanwhile, said they were not interested in tying the knot with ITC as a strategic partner in the growing hotels business.
The Centre has stopped allocating coal blocks to state governments till the Mines and Mineral (Development & Regulation) Act is implemented with the amendments.
The Railway Board is likely to utilise the undisputed 600 acres for setting-up a coach factory at Singur, the erstwhile site for the Nano project.
Twelve years on, and an unspecified amount of investment, ITC's green initiatives labelled as sustainability goals have translated into 24 per cent total shareholder returns, measured in terms of increased market capitalisation and dividends, at a compounded rate of growth.
The Nowera Nuddy tea estate of Amalgamated Plantations Pvt Ltd (APPL), a close to 50 per cent subsidiary of Tata Tea, accounts for a little more than 1 per cent of the company's tea production in North India, but is threatening its image as an 'ethical' group. The IUF, a global trade union, is running an international campaign against the lockout of the estate.
The change in the brand name can show up on the company's locations, stationary and vehicles. The rebranding process, if approved by the company, is expected to commence next summer.
Commerce and industry minister Nirupam Sen and land and land reforms minister Abdur Rezzak Mollah say the figures are yet to be collated. West Bengal Industrial Development Corporation sources said land losers would only be known once the projects are awarded.
This time over BHEL's power project proposal.
He's the hero for forging consensus on GST, popular in the Left Front and among his students, but industrialists are less than enamoured.
After land, coal is turning out to be the latest hurdle to West Bengal's industrialisation drive.
In the past four years, there has been some progress in allocation of iron ore and coal mine--the two key raw materials for steelmaking. The memoranda of understanding for the mineral rich states of Jharkhand, Orissa and Chhattisgarh started pouring in from 2005. Since then, many steel companies, JSW Steel, Tata Steel, Essar Steel, Tata Metaliks, and even ArcelorMittal have bagged either coal or prospecting licence for iron ore.
A year later, land prices are less than half the peak levels of Rs 20 lakh an acre.
Industry at Haldia, a major port and commercial hub, has been caught in the middle of this power transition. Consider this: RPG's power utility, CESC, is unable to erect evacuation towers due to land issues and the third phase of its ongoing expansion of 250 Mw has already been delayed by seven-eight months.
The main reason for the move is the volatility in prices and inconsistent supplies for value-added grades.
Direct land acquisition in Bengal fiat forces companies to appoint land brokers.
The company has been in discussions with vendors who are moving from Singur to Sanand to support them with mutually acceptable terms, which will be implemented.
Prices of key inputs up 44% to 74%; analysts expect earnings squeeze after a quarter or two.
Bengal govt invokes Acquisition Act to buy land for railways near Singur.
Honda Siel Cars India is planning to source steel from India for its local operations and is in talks with Tata Steel. A Tata Steel spokesperson confirmed that the companies were in discussions. Currently, Honda sources steel plates from Thailand for its Greater Noida facility. Honda models, like the City and Civic, have 74 per cent localisation, while the newly launched hatchback, Jazz, has 77 per cent local content.
The UPA government's Land Acquisition (Amendment) Bill could be the last nail in the coffin for industrialisation in West Bengal.
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