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Popular Articles

BJP, not Yeddy, likely to take legal action against Gowda
Karnataka Chief Minister B S Yeddyurappa is not likely to initiate any legal action against former Prime Minister H D Deve Gowda for using unparliamentary language against him but the state unit of BJP has threatened to file a suit against the JD(S) Chief.

Metal firms may have to wait longer to raise equity
Metal producers’ earlier plan to raise funds through equity issues may get delayed, as the flush of liquidity has slowed and the market has turned weaker. Sterlite Industries, JSW Steel, Hindalco and Tata Steel together plan to raise about $5 billion through different equity issues.

News of the day

The worker-run enterprise fiction
When the West Bengal government intervened by setting up Operating Managing Committees (OMCs) of workers in closed and sick tea gardens in the state, it was done to also alleviate the basic problems of the workers’ families. But this seems to have only given rise, as reported in the earlier parts of this series, to a section which makes money by exploiting other workers in collusion with local contractors. There is little evidence of any intervention, either by the district administration or political bigwigs, to curb this.
Small Business

Investors give thumbs-down to Power Grid's overseas plans

Power Grid ended at Rs 113, lower by Rs 1 or 1.2%, on the BSE. - Rate sensitives dismiss markets - Sensex tumbles over 500pts - Asian markets end with moderate losses - Sensex off day"s low - Sensex in red in early trades - Cadila Healthcare gains on 114% jump in Q3 net The stock had opened at Rs 114 and touched a high of Rs 117 and a low of Rs 112 during the day. The counter saw trades of 9.01 lakh shares as against the two-week average of 6.41 lakh shares. -------------------------------------------------------------------------------------------------------------(Updated at 0934am) Power Grid Corporation has moved up in early trades on news of overseas venture. The stock opened at Rs 114 and touched a low of Rs 113. It gained 3.5% from teh low to touch a high of Rs 117. The stock is now trading with a gain of 1.2% at Rs 116. Around 68,000 shares have been traded on the counter in BSE so far. The company is set to float its overseas subsidiary by early next year. The overseas subsidiary would operate in the lines of ONGC Videsh. The company has plans to launch a Follow-on Public Offer (FPO) in the second quarter of the coming financial year, to raise around Rs 3,000 crore, which would include a partial stake sale by the government.


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