PSU oil firms hike ATF prices by 2.4 per cent NEW DELHI: For the second time this month,state-owned oil firms on Sunday hiked jet fuel prices,this time by 2.4 per cent following a spurt in international oil rates. Aviation Turbine Fuel prices in Delhi will be increased by Rs 948 per kilolitre to Rs 40,423 per kl effective Sunday midnight,an official of the Indian Oil Corp (IOC),the nations largest oil firm,said. Working on coal mines allotted by govt: NTPC New Delhi: Power firm NTPC has said it is developing coal mines allotted to it for captive use and added that it takes 6-7 years to harness a mine even by international standards. We are developing all the five mines allotted to us, NTPC chairman and managing director R S Sharma told reporters. SJVN IPO likely in next fiscal: CMD New Delhi: Public sector hydropower producer Satluj Jal Vidyut Nigam (SJVN) on Sunday said its proposed initial public offer is likely to come in the next fiscal and the company is in the process of appointing independent directors. First of all we will appoint independent directors and the process may spill over next fiscal, SJVN chairman and managing director H K Sharma told reporters here. Citi to sell Bellsystem stake to Bain for $1 bn TOKYO: Citigroup Inc said on Sunday it has agreed to sell its stake in Japanese telemarketer Bellsystem24 to US private equity firm Bain Capital for 93.5 billion yen ($1 billion). Bain has been widely expected to buy Bellsystem24 after securing exclusive negotiation rights earlier this month. Sources had said last week that Bain was close to finalising a roughly 100 billion yen deal for the company. GE and Chinas AVIC to form avionics JV BEIJING: General Electric Co and Aviation Industry Corp,a Chinese state-owned aircraft maker,agreed on Sunday to form an avionics joint venture that will have China's booming commercial aircraft market as one of its main targets. The initial focus of the venture would be to develop equipment for Chinas planned C919 passenger jet,which will have at least 150 seats,said executives of GE. Reliance to offer 10 pc extra milk per packet New Delhi: Milk is industrialist Mukesh Ambanis newest business muscle and his corporate dairy is looking for refrigerator space at Mom and Pop stores,in addition to vending from Reliance Retail stores. With the beginning of sale of Dairy Pure through general milk retailers,the company expects further growth in this business. Reliance Retail is trying to lure customers with 10 per cent extra milk in every packet than that of its rivals for the same price. Nalco shelves South Africa project New Delhi: In a twin decision on its global operations involving about Rs 27,000-crore investment,the state-owned aluminium major Nalco has shelved its proposed project in South Africa,and has put on hold one in Iran. The company has found that there isnt sufficient coal in the offered reserves to feed the ventures. PTI
