Tata group Chairman Ratan Tata did live up to his promise of delivering a Rs 1 lakh car. But, that promise is now costing Tata Motors dear.
When the country's largest iron ore producer, NMDC, declares its financial results for 2009-2010, it will report a Rs 1,000-crore drop in net profit. Not on account of last year's slowdown, but Naxalite attacks.
Railway Minister and Trinamool Congress chief Mamata Banerjee gave Singur, the erstwhile site for Tata Motors' Nano that made her popular, a miss.
Rana Som, chairman and managing director of state-owned miner NMDC that is currently raising money through a follow-on public offer, is something of a contrarian. He believes the government gives employees more decision-making freedom than private sector promoters.
All car makers passed on the two per cent hike in excise duty to consumers soon after the Budget.
The land taken by Tata Motors at Singur for the erstwhile Nano car factory, and by the many companies who invested there to be vendors to the project, isn't set to change hands anytime soon.Tata and the vendors both say they plan to hold on to the lease titles, even as Trinamool Congress chief and Union railway minister Mamata Banerjee and the West Bengal government continue with their political posturing over a plan for a rail coach factory at the location.
DIPP's proposal is believed to have the support of the ministry of consumer affairs, food and public distribution and was originally mooted by the Forward Markets Commission.
The Bengal intelligentsia that stood by Trinamool Congress (TMC) leader Mamata Banerjee is now divided on how to resolve the fracas at Lalgarh -- a generic name that represents the Naxal-stricken tribal heartland of West Bengal.
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.
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