The Telegraph
Friday , February 1 , 2013
Since 1st March, 1999
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Business Briefs

Oil India float price

New Delhi, Jan. 31: The government has set the floor price of Oil India’s 10 per cent stake sale at Rs 510, offering a discount of over 5 per cent. The government plans to garner around Rs 3,000 crore by selling a 10 per cent stake in the exploration firm through the offer for sale route tomorrow. At present, the government holds 78.43 per cent in Oil India.

Scooters India

New Delhi, Jan. 31: The government today approved a Rs 200-crore revival package for state-owned Scooters India after shelving plans to divest its entire stake in the firm to a private strategic player. The cabinet approved the revival through infusion of funds of Rs 90.38 crore as capex/working capital and financial restructuring through waiver/conversion of government loan/interest to the tune of Rs 111.58 crore.

Core growth

New Delhi, Jan. 31: The growth rate of eight core industries fell to 2.6 per cent in December from 4.9 per cent in the same month previous year because of a drop in production of coal, natural gas and fertiliser. The cumulative expansion of the core industries was down at 3.3 per cent in April-December against 4.8 per cent in the year-ago period.