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Business Briefs

Coal India pact with US firm

Calcutta, Feb. 22: Coal India Ltd (CIL) has signed a Rs 590-crore contract with US-based mining equipment maker P&H for two 42-cubic-metre shovels along with a 17-year maintenance and repair pact. According to CIL chairman Partha S. Bhattacharyya, the new contract comes at a 7 per cent lower cost than a similar contract signed by CIL three years ago with Bucyrus of the US for three such machines along with a 12-year maintenance and repairing agreement.

Sidbi fund

Calcutta, Feb. 22: The Small Industries Development Bank of India (Sidbi) has plans to launch a venture capital fund of Rs 1,000 crore to provide credit to high growth industries in micro, small and medium enterprises sector, Sidbi deputy managing director N.K. Maini said.

Maruti offer

New Delhi, Feb. 22: Maruti Suzuki has launched SX4 diesel in a price range of Rs 7.74 – 8.62 lakh. The technology offered by the SX4 Super Turbo Diesel is high on power and performance and low on emissions, CEO Shinzo Nakanishi said.

Share spike

New Delhi, Feb. 22: Indian bourses will enhance their surveillance measures with regard to any unusual movements in share prices and trading volumes of stocks. It will seek clarification from listed firms for any sudden spurt in their share prices or trading volumes and their replies will be made public.

World Bank

New Delhi, Feb. 22: The World Bank has projected the Indian economy to grow by about 8.5-9 per cent in this and next fiscal. The estimates are almost in line with those made by the Prime Minister’s economic advisory council, which expects GDP to expand 8.6 per cent this fiscal and 9 per cent in 2011-12.


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