Pune's Lavasa Lake City has run into rough weather with the environment ministry slapping a showcause notice on Lavasa Corporation for carrying out construction activities without its approval in 25,000 hectares.
"ArcelorMittal has shown interest in the stake buy and the due diligence will start soon," said an official familiar with the development. The Facor stock closed at Rs 23.5 a share on the Bombay Stock Exchange today. At the current price, the company has a market capitalisation of Rs 435 crore. However, the deal is expected at Rs 35 a share, about 50 per cent premium to the current market price.
South Korean steel giant Posco has begun the feasibility study for its proposed Rs 52,000 crore (Rs 520 billion) steel project in India while keeping out its mining partner BHP Billiton from the detailed study besides kick starting the process of for
Out of the 192 mining leases of iron and manganese ores in Odisha, 94 do not have environment clearance.
As part of its strategy to woo the villagers, not only has Posco CMD started taking lessons in the local Oriya language besides strolling into more peaceful villages, the company plans to tie up with an NGO which was started by Manibhai Desai a follower of Gandhi.
The Central Bureau of Investigation on Monday filed its first charge-sheet in a Delhi court in the coal blocks allocation case against Navabharat Power Pvt Ltd for allegedly misrepresenting facts and making "fraudulent" claims to "embellish" its applications to get allotments between 2006 and 2009.
The 30-share Sensex ended down 208 points at 28,261 and the 50-share Nifty closed 64 points lower at 8,571.
Prime Minister Narendra Modi's decision to open commercial coal mining to private players is a key step towards bringing order to the country's chaotic power industry and ending the chronic blackouts that impede its economic rise.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
It emphasised that agricultural infrastructure needs considerable investments and hence Section 80IA benefits must be extended to all such investments like IT infrastructure, computers, VSAT, solar panels, water harvesting facilities, storage etc.
'The Modi government believes the industrialist, the capitalist, has to pay for the assets of the government which belong to the people of India.'
Officials say a fall in global oil prices will reduce the government's subsidy burden, giving it a greater chance of hitting its ambitious fiscal deficit target of 4.1 percent of gross domestic product in the fiscal year to March.
From Kudankulam to the Land Bill, the author takes the Twitter route to capture the infra action of 2013.
Indian economy about to take-off
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