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T Rowe Price pays Rs 700 cr for 26% in UTI
The four sponsors of UTI Asset Management Company today signed an agreement with T Rowe Price, the US-based fund house, to offload 26 per cent stake for around Rs 700 crore.

Whistling in the dark
Monday and Tuesday were supposed to be the days for the mock auction for 3G spectrum, with the final auction to be held on January 14. Naturally, then, reporters rushed to meet Telecom Minister A Raja when the last date for the mock auctions passed without anything happening. Instead of announcing a new date, or giving the usual “no comment”, Raja surprised everyone by saying, “The date has not been pushed.”

News of the day

Vedanta plans steel plant in state with L&T
After committing an investment of Rs 60,000 crore on various projects in Orissa including an aluminium smelter plant, an alumina refinery unit and a mega university project, London-based Vedanta Resources Plc has now evinced interest in setting up a steel plant in the state.
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U'khand buys 145 buses from Tata

The Uttarakhand government has bought 145 buses from auto giant Tata Motors through an open bidding. The red-colour buses will ply in three cities – Dehra Dun, Haridwar and Nainital. Under the Jawaharlal Nehru Renewal Urban Mission (JNRUM) programme, the Centre will bear 80 per cent of the cost and the rest 20 per cent will be borne by the state government. - Tata to reduce jobs at JLR sales companies - Singur rail coach factory hinges on land solution - Tata Motors, Vijaya Bank in tie-up for financing vehicles - Singur Rail coach factory hinges on land tangle - Janta Roadways launches taxi service in Chennai - "We stand revived, merger not on our mind" A total of Rs 25 crore was sanctioned for the purchase of new buses for the convenience of tourism as well as the citizens in the three cities. Additional Transport Secretary Vinod Sharma told Business Standard, “We are trying to raise the level of comfort for our citizens as well as tourists coming to the state.” While 60 buses would ply in Haridwar and Dehra Dun each, the rest 25 buses are for the hill resort of Nainital, mainly to promote tourism there.


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