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India should manufacture equipment of N-industry: Kakodkar
The Indian private industries who are keen to participate in the large growth of civil nuclear power programme in the country should immediately concentrate on the manufacturing of equipments to become a major N-supply chain provider and later even exporters, Chairman, Atomic Energy Commission, Dr Anil Kakodkar said.

'RBI move indicates gradual withdrawal of stimulus packages'
India Inc today cautiously welcomed the RBI"s move to modify the ECB guidelines and said this also indicates a gradual withdrawal of stimulus measures announced to help the industry tide over the global credit crunch last year.

News of the day

Air India to induct 7 independent directors
Cracking the whip to turn around ailing Air India, the government today announced an overhaul of its top management within 30 days by inducting seven independent directors with proven track record on the airline"s board.
Public Relations

REC gets Power Ministry nod for FPO

State-run Rural Electrification Corporation (REC) today said it has received approval from the Power Ministry approval for its proposed follow-on public offer (FPO). - "Does India need a Tobin tax?" - Panel seeks regular updates on asset guarantee prog for Citi - India"s tourism industry hit by 26/11, Swine flu scare: Shelja - Direct transfer of fertiliser subsidy to farmers misconceived: Study - Standard gold hits Rs 16,700 level in early trade - Barclays to increase workforce by 10% in Asia "The Ministry of Power...Has conveyed their approval for follow-on public offer of the Company of 17.17 crore equity shares of Rs 10 each constituting 20 per cent of the existing paid-up capital," REC said in a statement to the Bombay Stock Exchange (BSE). The government recently offloaded its shares in energy PSUs-- Oil India (OIL) and NHPC-- and proposes to divest equity in another power major NTPC and Sutluj Jal Vidyut Nigam (SJVN). REC"s public offer is likely to hit markets by February next year and the company will approach market regulator Sebi by mid-December in this regard. At the end of September quarter, the government held a 81.82 per cent stake in the company. Based on today"s market price, REC could garner about Rs 3,725 crore through its proposed public offer of 20 per cent holding. Shares of REC today closed at Rs 216.95, up 0.86 per cent from its previous close on the BSE.


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