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Updated: Dec 22 2012, 07:12am hrs
PVR Cinemas promoters pledge 11.41% stake

Bijli Holdings, owners of PVR Cinemas, has pledged 32.93 lakh shares or 11.41% in the film exhibitor to L&T Finance. Bijli Holdings has created pledge against 32.93 lakh shares of PVR on November 27 in favour of L&T Finance to secure financial facility...", PVR Cinema said in a filing to stock exchanges. L&T Finance is a subsidiary of Larsen and Toubro Finance Holdings.

Sesa Goa Buys Stake in Liberia's Western Cluster

London-listed Vedanta Resources's Goa-based iron ore miner Sesa Goa has acquired the remaining 49% of the outstanding common shares of Western Cluster from Elenilto Minerals & Mining. The purchase is for a cash consideration of $33.5 million and post the transaction Sesa's shareholding in WCL will increase to 100%. WCL is a logical and strategic fit with Sesa's existing iron ore business and is expected to create significant long term value for all takeholders, Sesa Goa said in a statement.

SpiceJet spruces up fleet with new planes

SpiceJet, India's second-largest low-cost carrier, has received all of the 15 Q400 NextGen turbo propeller aircraft from Canada's Bombardier. With the addition of the final three planes, the carrier's fleet size will increase to 51. In October 2010, the airline had a fleet size of 22. SpiceJet has an option for 15 more Q400s. The plane can accommodate 78 passengers and is one of the most preferred planes for short-haul distances.

Dubais dnata to handle AIs London service

Dubai-based ground handling company, dnata has won the contract for providing passenger services for Air Indias flights to Londons Heathrow airport. Under the new contract, dnata will provide services for checking in passengers, operate Air India's ticket counter and the Maharaja VIP Lounge at London Heathrow. The Dubai-based firm will also provide services for lost Reliance to restart crude unit in 1-2 days after fire Reliance Industries will restart a crude distillation unit one to two days after a fire at its older, 660,000 barrels-per-day refinery in Jamnagar. The fire broke out during maintenance on the unit, which was shut at the time, said Reliance spokesman Tushar Pania said. Pania said the fire was minor and was contained immediately.

The company is still investigating the cause of the fire, he said, without providing details of the unit's capacity.

Railways, RINL ink deal for forged wheel factory

To meet the growing requirement of wheels for coaches, wagons and high-speed trains, the Indian Railways has joined hands with Rashtriya Ispat Nigam to set up a R1,000-crore forged wheel factory at Rae Bareli in Uttar Pradesh. The proposed forged wheel factory with a capacity of manufacturing 1,00,000 wheels in a year will be the largest of its kind in India.

Nomura warns about Indian AC sector

Nomura on Friday said it has come away "with extremely negative takeaways" for the Indian heating, ventilation and air conditioning market after meeting with Blue Star's executive in charge of the segment. Nomura said Blue Star sees the HVAC market suffering from declining orders and intensifying competition.

Air India to bring Agra on its network

Air India will start flight operations from Delhi connecting Varanasi, Agra and Khajuraho from December 26. The flight AI 406 will operate on Mondays, Wednesdays and Fridays on Delhi-Varanasi-Agra-Khajuraho route and the return flight, AI 405, will fly from Khajuraho to Varanasi and terminate at Delhi.

Slowdown impacting consumer sector: BluFin

The economic recovery is "tepid" in December due to slowdown in consumer sector and weak global economic environment, a report has said. The BluFin Business Cycle Indicator, that reflects various macroeconomic trends on a monthly basis, was marginally down at 159.7 in December against 160 in November.

IL&FS bags Rs 168-cr order for Dighi Port

IL&FS Engineering and Construction Company has bagged a R168-crore order from IL&FS Maritime Infrastructure Company on behalf of Dighi Port for engineering, procurement and construction of a backup yard on the north side of Dighi Port in Agardanda in Maharashtra . The project completion period is 545 days from the date of notice to proceed, said a statement from the company.