Tata Steel With Brazilian Mining Giant Vale For Infusion Of Rs1,555cr

Tata Steel along with Brazilian mining giant Vale and other joint venture partners, is attempting a massive expansion of the Carborough Downs coal mine near Moranbah in Central Queensland, Australia, for an infusion of about Rs 1,555 crore. Carborough Downs is an underground mine operated by Carborough Downs Coal Management. Vale and its joint venture partners, comprising Tata Steel, Nippon Steel Corporation, Posco, JFE Steel and JFE Shoji, own around 80 per cent of the mine. Tata Steel, Nippon Steel and Posco own 5 per cent each in the Carborough Downs coal mine, while JFE Steel and JFE Shoji individually hold 2.5 per cent.

FII Stood As Net Seller In Equity

The FIIs on 7 May 2008 stood as net seller in equity. The gross equity purchased was Rs3,099.00 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,827.80 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs728.80 Crore) and net debt was Rs0.00 Crore.

Nalco Mulls To Set Up Rs 14000cr Unit In Orissa

National Aluminium Company (Nalco) is exploring the possibility of opening a greenfield aluminium smelter and captive power plant near Jharsuguda, western Orissa at an investment of more than Rs 14,000 crore. The capacity of the proposed smelter is estimated at 5 lakh tonnes per annum with a captive generation facility of 1,250 mw. Engineer''s India (EIL), which has been named the consultant, has found the project technically feasible.

FIIs: Net Seller In Equity While Net Buyer In Debt

The FIIs on Tuesday stood as net seller in equity while the net buyer in debt. The gross equity purchased was Rs2,704.90 Crore and the gross debt purchased was Rs139.90 Crore while the gross equity sold stood at Rs3,011.50Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs306.70 Crore) and net debt was Rs139.90 Crore.

Kesoram Industries Planned Rs 840 Crore At Its Uttarakhand Tyre Complex

BK Birla-promoted Kesoram Industries has planned Rs 840 crore expansion programme at its Uttarakhand tyre complex. The plan comprises a radial tyre plant with 100 tonnes-a-day capacity at a capital expenditure of Rs 495 crore and another bias tyre plant for trucks with farm sector equipment having a capacity of 125 tonnes a day and involving an investment of Rs 345 crore. Kesoram is already in the process of opening a greenfield project for bias tyres in Uttarakhand at an investment of Rs 750 crore. The first phase of commercial production was hoped to go onstream by mid-May 2008 and the last phase by December 2009. The company will raise the capacity of its Vasavadatta plant in Karnataka to 5.7 million tonnes, thereby taking its total cement capacity to 7 million tonnes. Kesoram Industries has two cement units, Vasavadatta Cement at Sedam, Karnataka, and Kesoram Cement at Basantnagar, Andhra Pradesh.

Fiis Stood As Net Buyer In Equity

The FIIs on Monday stood as net buyer in equity while the net seller in debt. The gross equity purchased was Rs3,624.50 Crore and the gross debt purchased was Rs7.60 Crore while the gross equity sold stood at Rs2,904.60Crore and gross debt sold stood at Rs19.90 Crore. Therefore, the net investment of equity reported was Rs720.00 Crore and net debt was (Rs12.30 Crore).

Domestic IT And Ites Expected To Cross Rs 2,00,000 Crore Mark In 2012

The India domestic IT and ITeS market is expected to cross the Rs 2,00,000 crore mark in 2012 compared to Rs 90,014 crore recorded in 2007. This translates into a CAGR of 18.4 per cent in the five year period, according to a new report by IDC India. Together with IT and ITeS exports revenue of Rs 3,20,278 crore, the total IT and ITeS industry size is expected to grow Rs 5,29,976 crore by 2012, representing a CAGR of 16.5 per cent. Kapil Dev Singh, country manager, IDC India, said, "The domestic IT and ITeS industry CAGR of 18.4 per cent (during 2008-12) is expected on the back of a robust growth of the past five years (2003-2007).