Briefly Business

Within hours of going on indefinite strike,the employee unions of BSNL on Tuesday called off the protest after the government assured that the issue of disinvestment in the telecom PSU will be referred to a GoM....

BSNL employees call off strike

NEW DELHI: Within hours of going on indefinite strike,the employee unions of BSNL on Tuesday called off the protest after the government assured that the issue of disinvestment in the telecom PSU will be referred to a GoM. “We have assured (unions) that the issue of disinvestment will be referred to a GoM and they would be consulted before taking other decisions with regard to BSNL,” telecom minister A Raja said.

Rail projects worth Rs 13 cr for PPP mode

NEW DELHI: Amid stepped up efforts to woo private investment,Railways have identified 37 projects worth over Rs 13,000 crore,including laying of new lines and gauge conversions,for development under PPP mode. This comes after the PSU held wide-ranging consultations with industry representatives over the weekend on creation of new infrastructure and expansion of its network.

Sebi seeks info on FIIs investment structure

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MUMBAI: Market regulator Sebi has directed FIIs to disclose more information about their investment structure in India. It is not about FIIs investment,it is about what structures FIIs have for their investments in India, Sebi chairman C B Bhave said.

Deora for committee for freeing fuel prices

NEW DELHI: Petroleum minister Murli Deora has asked Prime Minister Manmohan Singh to form a ministerial panel to decide on freeing petrol and diesel prices. IOC,BPCL and HPCL are projected to lose Rs 87,440 crore on selling petrol,diesel,LPG and kerosene below cost in FY’11 and in the absence of clear signals from the government on how these would be made up,Deora is desperately looking for viable solutions.

Tyre majors to up prices from May 1

NEW DELHI: Tyre manufacturers like JK Tyre and Ceat Ltd said they will go for a price hike of up to 5 per cent from May 1 to offset an increase in input costs due to the rise in natural rubber prices. The companies,however,said the hike may not be sufficient to cover the deficit and there is a likelihood of a further increase in the months to come.

CIL to spend Rs 300 cr on CSR this fiscal

KOLKATA: Coal India Ltd (CIL) will invest Rs 300 crore this fiscal on social and environmental causes. Earlier,the company had earmarked Rs one per tonne of coal produced, CIL chairman Partha S Bhattacharyya said.

Nitesh Estates IPO band at Rs 54-56

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MUMBAI: Real estate developer Nitesh Estates today said its Rs 405 crore IPO will open for subscription on April 23,for which the price-band has been fixed at Rs 54-56 per share. The issue will close on April 27. We will raise around Rs 405 crore from the IPO to use for our upcoming as well as under-construction projects,” Nitesh Estates executive director L S Vaidyanathan said.