business

India’s oilmeal exports plunge 63% in July

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Declining demand from its main trading partners has resulted in a sharp dip in India’s oilmeal exports in the April-July period of the current fiscal. According to the data collected by the Solvent Extractors Association of India (SEA), oilmeal exports have seen a 60% year-on-year drop in wake of the global economic recession. Non-availability of adequate meal has also hit the exports.

The decline was even sharper in the month of July at 173,329 tonne, down 63% from the same month last year. Total oilmeal exports during the four months ended July 30, 2009 were placed at 0.76 million tonne compared with 1.9 million tonne during the same period a year-ago.

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NHPC – Green Energy IPO Fully subscribed at Rs 36 Upper Band

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The IPO of State Owned Hydro Electric Company – NHPC which opened for subscription this morning was fully subscribed within an hour 🙂 NHPC is a producer of Green Energy which is the most sought after Electrical Power today and will continue to do so. Analysts, will re-rate the stocks and upon listing, NHPC will … Read more NHPC – Green Energy IPO Fully subscribed at Rs 36 Upper Band

FIIs net sellers of Rs 371 cr (prov) in the spot market on Thursday

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Foreign institutional investors (FIIs) were net sellers of Rs 371.41 crore (provisional) in the spot market on Thursday, according to information posted on the BSE website. While FIIs made gross purchases of Rs 2,509.11 crore, their gross sales stood at Rs 2,880.52 crore.

On the other hand, domestic institutional investors (DIIs) were net buyers of Rs 257.40 crore (provisional) on the same day. While DIIs made gross purchases of Rs 1,524.08 crore, their gross sales aggregated Rs 1,266.68 crore.

Read moreFIIs net sellers of Rs 371 cr (prov) in the spot market on Thursday

Government to monitor infra projects closely

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In order to give a push to infrastructure development in the country and solve the bottlenecks in the way, the Cabinet Committee on Infrastructure (CCI) has set strict monitoring targets for all core projects. The 12-member CCI is headed by Prime Minister Manmohan Singh.

Indian infrastructure projects are known for long delays and cost overruns. According to the government’s own estimates, more than 50% of the infrastructure projects currently being undertaken in the country are suffering from substantial delays. Data available with the ministry of statistics and programme implementation shows that 423 of the 925 projects going on at various parts of the nation have crossed their deadlines.

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FIIs net sellers of Rs 691 cr (prov) in the cash segment on Wednesday

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Foreign institutional investors (FIIs) were net sellers of Rs 690.53 crore (provisional) in the cash segment on Wednesday, as per information posted on the BSE website. While FIIs made gross purchases of Rs 1,857.12 crore, their gross sales amounted to Rs 2,547.65 crore.

Domestic institutional investors (DIIs) were net sellers of Rs 23.90 crore (provisional) on the same day. While DIIs made gross purchases of Rs 1,083.12 crore, their gross sales stood at Rs 1,107.02 crore.

Read moreFIIs net sellers of Rs 691 cr (prov) in the cash segment on Wednesday

AAI to become a listed company: Praful Patel

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Civil aviation minister Praful Patel has said that Airports Authority of India (AAI) would be floated as a joint stock company by amendments in order to raise funds from market for carrying out modernisation of a large number of major airports across the country with an objective of listing it in the stock market.

The ministry would soon amend the AAI Act to corporatize the the government entity to help its financial future.

Read moreAAI to become a listed company: Praful Patel