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Business Briefs

Industry growth hope

Mumbai, March 13: The Centre for Monitoring Indian Economy has projected an industrial growth rate of 10.4 per cent for fiscal 2009. “The current investment boom is expected to correct the slowdown problem,” the economic think-tank said in its monthly report. The reason for the current slowdown in industrial production was the supply problem faced by sectors such as cement, aluminium, electricity and steel, it said.

Tata demand

New York, March 13: The Tatas, who are in advanced talks with US car maker Ford to buy the Land Rover and the Jaguar, are seeking a price guarantee on the engines of the two luxury brands, the Detroit News reported.

Auto alliance

New Delhi, March 13: Engineering services outsourcing firm Incat has entered into a strategic alliance with auto component maker Tata Autocomp for providing engineering and design services for automobile manufacturers globally.

NTPC plan

New Delhi, March 13: State-run ntpc Ltd will invest Rs 13,000 crore to add 2,700MW capacity during the next financial year, company chairman and managing director T. Sankaralingam said. On funding, he said it would be a mix of equity and debt in a 30:70 ratio.

SBI strike

Calcutta, March 13: Employee unions of the State Bank of India have threatened to go on a one-day token strike on March 28 in branches of the Bengal circle.

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