Sensex gains over 65 points in early trade

Feb 25 2013, 09:49 IST
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The 30-share barometer rose by 65.88 points, or 0.34 per cent, to 19,382.89.  (Reuters) The 30-share barometer rose by 65.88 points, or 0.34 per cent, to 19,382.89. (Reuters)
SummaryThe 30-share barometer rose by 65.88 points, or 0.34 per cent, to 19,382.89.

be affected.

ENERGY/COMMODITIES

Reliance Power Ltd will fire the first unit of its giant 4,000 mw Sasan plant this week, Chief Executive JP Chalasani said.

Steel Authority of India Limited (SAIL) has lined up an investment of 102.84 billion rupees to double capacity of its captive iron ore mines to 45 million tonne, SAIL Chairman C. S. Verma said

Essar Energy Plc wants to take full control of the Mehsana block in the eastern flank of the Cambay basin of Gujarat from its partner, Oil and Natural Gas Corporation , Business Standard reported, citing an unidentified "industry source."

INFRASTRUCTURE

GMR Infrastructure Ltd has decided to exit its first independent power project (IPP) outside India by selling the entire 70 percent stake in its Singapore plant, held under unit GMR Energy (Singapore) Pte Ltd, said multiple sources aware of the development.

Shriram Group is set to decide between Citi Venture Capital International and Blackstone Group LP as financial partners to run its cement business, in a deal which could be announced within weeks.

AUTOS

The Competition Commission of India is likely to soon pass an order against 17 leading automobile manufacturers for allegedly using their dominant position to sell spare parts only through authorised dealers.

Tata Motors Ltd is working on a family of low-cost composite cars that is expected to complement the Nano, the automaker's ultra-low-cost car, said two people close to the project.

Titagarh Wagons Ltd and FreightCar America Inc on Saturday said they have agreed to wind up and dissolve their Indian joint venture company.

AIRLINES

Singapore-based Tiger Airways is in talks with domestic carriers including Spicejet Ltd and Indigo to forge alliances to help passengers in smaller cities routed through Hyderabad for their Singapore travel.

The Foreign Investment Promotion Board will take up on March 6 the investment proposal of Malaysia's AirAsia Bhd's joint venture with the Tata Group and another company.

TELECOM

Norway's Telenor ASA on Sunday said it has started the process to refund money to its Mumbai customers and help them shift to alternate mobile operators in the wake of its network shutdown.

Russian conglomerate Sistema on Friday defended its bid to recover mobile phone licences in India as a strategic move giving it a launchpad for investment in southeast Asia.

Ranbaxy Laboratories Ltd said on Friday it will resume production of its version of Pfizer's

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