IOC’s Lanka sales

New Delhi, Aug. 13: Indian Oil Corporation (IOC) is assessing the situation of dipping sales at its Sri Lankan subsidiary and will take a decision that may include raising of retail prices soon. “We are assessing the situation. However, it will take some time to decide as there are a lot of issues involved,” IOC sources said. Lanka IOC’s fuel retail outlets have seen their petrol sales dip by almost 55 per cent after it raised its petrol prices by Rs 5 on August 1.

IT growth

New Delhi, Aug. 13: The IT sector’s continuing growth momentum, supported by companies’ huge business expansion and hiring plans, will fuel further demand for about 50-70 million sq ft of office space in India over the next 2-3 years, global real estate consultant Jones Lang Lasalle said in its latest report on the country.

Interest rates

New Delhi, Aug. 13: Moody’s Investors Service has said the hardening of interest rates in India should not significantly deter investment in the economy, which has a good momentum.

NTPC pact

New Delhi, Aug. 13: The National Thermal Power Corporation (NTPC) is preparing to enter coal mining, and will sign a memorandum of understanding with Coal India Ltd and Singareni Collieries Ltd by the end of this month to start mining operations.

Godrej plan

Mumbai, Aug. 13: Godrej Agrovet Ltd plans to bring one lakh hectares under jatropha plantation over the next 5-10 years and is mulling to enter bio-diesel production.