FreePress India

Reliance Infrastructure Ltd has informed FreePress that the Board of Directors of the Company had at its meeting held on March 05, 2008 approved buy-back of equity shares of the Company up to an amount not exceeding 10% of the paid-up capital and free reserves of the Company, i.e. up to Rs 800.06 crore. Pursuant … Read more Reliance Infrastructure – Buy-back of Shares Ends

The Indian rubber industry is currently facing a difficult period as prices go down rapidly amidst declining demand. The situation in the industry has changed rapidly in line with most other commodities, with rising prices taking a steep reversal after crude prices began to crash. Painting a further gloomy picture of the matter, the Rubber … Read more Rubber Industry Faces Recession

Public sector life insurance giant Life Insurance Corporation of India (LIC) is inclined to invest in Rs 4,000 crore in the equity market by March this year after pouring in Rs 31,000 crore till December. The planned investment outlay was Rs 41,000 crore for this fiscal, now has fallen short actually. The public sector insurer … Read more LIC to buy equities worth Rs 4,000 cr in March

The Indian Income Tax Department has started its independent probe of the Rs 7,800-crore corporate fraud in Satyam with focus on tax deducted at source and benami deals. However, the department has declined to give a time line for the completion of the probe, contending the duration cannot be fixed, but it would try to … Read more Income Tax sleuths start Satyam probe independently

Petron Mechanical Industries, part of Petron Engineering Construction, has received a Rs 9.78 crore order from Vedanta Aluminum. The order envisages design, engineering, manufacturing, erection and commissioning of 57 cranes & hoists for the latter’s expansion initiative at its smelter plant at Jharsuguda, Orissa. Petron Engineering Construction has received an order from Lanco Infratech, for … Read more Petron receives order from Vedanta + Lanco Infra