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Business Briefs

Crisil growth outlook

Mumbai, Oct. 10: Rating agency Crisil today cut India’s GDP growth forecast for 2011-12 to 7.6 per cent from its earlier estimate of 8 per cent, citing deteriorating global economic scenario and the grim investment climate in the country. The forecast is based on the assumption that developed economies will witness a slowdown but another recession will be averted, it said.

FDI plan

New Delhi, Oct. 10: The government has cleared 11 FDI proposals, entailing total foreign direct investment of Rs 182.78 crore, including that from 9X Media to increase foreign equity participation to up to 100 per cent.

DLF appeal

New Delhi, Oct. 10: Realty giant DLF has approached the Competition Appellate Tribunal seeking a stay against fair trade watchdog CCI’s order asking the firm to pay a penalty of Rs 630 crore for abusing its dominant position.

CIL strike

Calcutta/New Delhi, Oct. 10: Coal India workers today went on a one-day strike across collieries and offices, causing an estimated loss of Rs 120 crore to the firm.

CARE offer

Mumbai, Oct. 10: Ratings agency Credit Analysis and Research (CARE) has filed papers with Sebi for an initial public offer of 7.2 million shares, or 25 per cent of equity.


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