FDI plans cleared

New Delhi, May 29: The government has cleared 14 foreign direct investment (FDI) proposals that will bring in Rs 826 crore, including Rs 278 crore by Havells India Ltd. Based on the recommendations of the Foreign Investment Promotion Board, the government also cleared Mumbai-based Fox Star Studios’ plan for infusing foreign equity of up to 100 per cent in a domestic company for the production of movies.

Tata stock

Mumbai, May 29: Shares of Tata Motors today fell more than eight per cent after the company announced fund raising plans to finance the buyout of Jaguar and Land Rover marques. The scrip lost 9.43 per cent, falling to an intra-day low of Rs 580 before closing at Rs 582.55 on the BSE.

Power projects

New Delhi, May 29: The government has approved the setting up of four additional mega power projects in Orissa, Chhattisgarh, Tamil Nadu and Gujarat to meet the power shortages.

RBI move

Mumbai, May 29: A committee formed by Sebi and the Reserve Bank has suggested the introduction of currency futures markets, initially for dollar-rupee contract, to enable investors manage volatility.

MTN deal

New Delhi, May 29: Reliance Communications and South African telecom firm MTN are understood to be working out a deal involving swapping of equity between the two that could see MTN gaining control of the Anil Ambani firm.

Piramal scrip

Mumbai, May 29: Piramal Life Sciences Ltd, the demerged research and development unit of Piramal Healthcare Ltd, today made its debut on the stock exchanges. The stock opened at Rs 300 and hit an intra-day high of Rs 519.80 before closing at Rs 313.90 on the BSE.

SEZ plan

New Delhi, May 29: The government on June 4 will consider 15 new proposals for setting up special economic zones, of which 11 are in the IT, ITeS and electronics hardware segments,including those of larsen and toubro and deccan infrastructure and land holdings ltd, will be taken up by the board of approval for sez, chaired by commerce secretary gopal k pillai.