NCL plan

New Delhi, Feb. 25: Coal India today said the board of its arm Northern Coalfield has approved a share buyback plan worth Rs 1,244 crore. "The board of directors of Northern Coalfields Ltd (NCL), our wholly owned subsidiary... has considered and approved the buyback of 76,356 fully paid equity shares of face value of Rs 1,000 each from the members of NCL on a proportionate basis through tender offer," Coal India said in a BSE filing today.

Forex kitty

Mumbai, Feb. 25: The country's foreign exchange reserves declined $56.8 million to $362.73 billion in the week to February 17 on account of a dip in foreign currency assets (FCAs), the RBI said. FCAs, a major component of the overall reserves, dropped $59 million to $339.72 billion in the reporting week.

Larsen order

New Delhi, Feb. 25: Larsen and Toubro Hydrocarbon Engineering today said it has bagged orders worth Rs 1,100 crore from IOC for its Bongaigaon refinery in Assam. The orders are for IOC's Indane Maximisation project.