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Indian markets rose to yet another record on optimism about the government's reform agenda after the cabinet approved a higher foreign direct investment (FDI) limit for the insurance sector. Stocks climbed for an eighth day led by metal makers and
Moody's placing Novelis' debt under review for downgrade to a probable default rating. On March 22, Moody's said Novelis' weak financial performance had led to deterioration in its debt profile. Novelis is expected to come out with its March
The Environment Ministry may meet next week to take up the issue of granting clearance for diversion of forest land pertaining to Hindalco's coal mining project in Odisha. The Forest Advisory Committee (FAC) meeting proposed to be convened next week
Former Coal Minister Dasari Narayana Rao was on Monday questioned by the CBI in connection with alleged irregularities in allocation of Talabira-II coal block in which Aditya Birla Group Chairman Kumar Mangalam Birla and former Coal Secretary P C
09 New Delhi: Probe into alleged irregularities in allocation of Talabira-II coal blocks has gained momentum as CBI has started questioning top executives of Aditya Birla Group and were likely to quiz former Coal Secretary P C Parakh next week.
Former coal secretary PC Parakh has said that when he complained to Prime Minister Manmohan Singh in 2005 about the rude behaviour of Members of Parliament (MPs) and threatened to resign, the latter told him he, too, was faced with similar incidents.
Short-covering ahead of the expiry of futures and options March contract tomorrow also boosted the market. Tata Steel, which rose 1.54 %, said the company had launched the bid-cum-auction process for the sale of its land parcel in Borivali. The
We do not agree with their assessment, a top Birla group official said, asking not to be named. Moody's rival S&P, according to the official, takes a longer-term view while rating the company. The North American company has invested $1.5 billion to
AP The IMG on coal blocks, which met for two days on February 7 and 8 reviewed the progress of development of 61 coal blocks. File photo An inter-ministerial panel has recommended de-allocation of 29 coal blocks of companies such as Essar Power,
Hindalco Industries and Nalco Investors note, the recent upswing in aluminium premiums in the US and Europe may not benefit Indian aluminium manufacturers - Hindalco Industries and Nalco - as such premiums have been relatively stable in Asia.