Saimira stake sale

Mumbai, Jan. 5: Pyramid Saimira’s promoter Nirmal Kotecha has sold nearly 10 per cent stake in the company between November and December last year. In a disclosure made to the BSE, the company said Kotecha sold 3.80 lakh shares representing 1.35 per cent stake in the company between November 19 and December 5, 2008 and 18.36 lakh shares, representing 6.50 per cent stake between December 18 and 29, through open market transactions.

Exporter relief

New Delhi, Jan. 5: The government has released Rs 800 crore for exporters as duty drawback and refund of central sales tax in the face of a credit crunch. Duty refund rates have been restored to the level before November 5, 2008.

Jet fares

New Delhi, Jan. 5: Jet Airways has introduced three, five and seven-day advance purchase fares for business class customers on certain domestic sectors with immediate effect.

GDP forecast

New Delhi, Jan. 5: Citi has retained its forecast for India’s economic growth in fiscal 2009 and 2010 at 6.8 per cent and 5.5 per cent, respectively, based on positive measures by the central bank and the finance ministry.

Coal blocks

New Delhi, Jan. 5: The government may take back at least 10 captive coal blocks from Monnet Ispat, Adhunik Group, Haryana Power Corporation and NCT Delhi as they failed to develop the blocks on time.