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Business Briefs 17-06-2011

Infosys name change Food inflation NTPC blocks Essar relief ONGC subsidy

The Telegraph Online Published 17.06.11, 12:00 AM

Infosys name change

Mumbai, June 16: IT major Infosys Technologies has changed its name to INFOSYS LTD after it received an approval from the ministry of corporate affairs. “The company has received approval from the registrar of companies, Karnataka, ministry of corporate affairs to change the name of the company,” Infosys said.

Food inflation

New Delhi, June 16: Food inflation fell marginally to 8.96 per cent for the week ended June 4 on the back of cheaper pulses and vegetables and the moderation may continue with good monsoon prospects.

NTPC blocks

New Delhi, June 16: The government has cancelled five coal blocks allocated to power companies, including three to NTPC, because of their failure to develop them.

Essar relief

New Delhi, June 16: The corporate affairs ministry has communicated to the telecom ministry that Essar Group held only a 2.15 per cent stake in Loop Telecom at the time of obtaining a 2G licence. The move can be a breather for the group which is under investigation by the CBI.

ONGC subsidy

New Delhi, June 16: Oil and Natural Gas Corporation (ONGC) may have to shell out Rs 12,300 crore in fuel subsidies in the April-June quarter as the government is yet to raise the retail prices.

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