Corporate
Participants from 22 African countries are likely to attend the second India-Africa Hydrocarbons Conference, scheduled to be held here tomorrow and the day after. The objective is to bring together ministers in-charge of oil and gas, top government officers and captains of the industry for exploring partnership opportunities.
As many as six out of every 10 private equity companies have either frozen salaries of employees or are mulling to do so in near future as investments take a hit amid lower returns, says a study.
After opening weak, the Asian markets have rebounded into the green. The Hang Seng is now up 19 points at 21,9212. The Nikkei is trading flat at 10,105.
In the backdrop of a spate of racial attacks in Australia, Down Under could witness about a 50 per cent drop in Indian students in the next session, according to an international educational recruiter.
Prime Minister Manmohan Singh today announced Rs 1,000 crore assistance to Karnataka to take up flood relief works after undertaking an aerial survey of the rain-ravaged areas in northern districts.
The IT SMEs (small and medium enterprises) in Orissa have urged the state IT department to come out with a new ICT (information and communication technologies) policy which would enable these units to have a greater share in the implementation of the e-governance projects in the state.
The Asian markets ended in the red.
In the last month of 2009, the Hindi film industry promises lots of fun, drama and action.
UTV Motion Pictures, an arm of UTV Software Communications, has signed a series of non-exclusive television rights syndication deals amounting to Rs 95 crore. The deals are across their slate of 2008 and 2009 productions, from Oye Lucky! Lucky Oye! and Dev D to recent hits like Kaminey, Wake Up Sid and Kurbaan.
When the IIMs decided to award the contract to Prometric for conducting the Common Admission Test (CAT) online, and Pearson bringing its assessment brand to India, it must have been a wake up call for MeritTrac, a large assessment company. But, the company is not losing sleep.
To be tabled in Winter, Budget sessions of Parliament.
Empee Distilleries Ltd, part of Empee Group, is planning to invest around Rs 200 crore in various projects during the current fiscal. Besides, the company is also planning to re-enter into beer business.
Liquor baron Vijay Mallya today said his UB Group will overtake Diageo as the world"s largest spirits maker by the next fiscal.
Purists will tell you that celebrity endorsement is nothing but lazy advertising. Instead of working on the brand, companies use a celebrity to create awareness and get the message across in a jiffy. The cost of creating the campaign may go up, but the money and time required to rub the brand in get reduced by a huge margin.
The Hang Seng has dropped 348 points to 22,423 and the Nikkei has declined 96 points to 9,401.
Liquor baron Vijay Mallya today said his UB Group will overtake Diageo as the world"s largest spirits maker by the next fiscal.
Cash-strapped airlines have been pounded on another front suffering a loss of at least Rs 7 crore this year on account of bird hits.
A Qatar Airways flight from London to Doha has become the first commercial passenger aircraft to fly on natural gas.
The Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce has called a meeting on July 10 to discuss the foreign direct investment (FDI) policy in the cigarette industry.
Sayantani Kar / New Delhi September 22, 2009, 0:51 IST
The stock failed to hold on to its gains and slipped 5% to its low of Rs 138. The stock finally ended marginally down at Rs 139. Around 2.92 million shares were traded on the BSE today.
The robust growth in net profit in the second quarter seems unlikely to be repeated soon for cement companies, as prices in the south and west have been falling since October, with the increase in supply outstripping demand.
Resolving the Kashmir issue between India and Pakistan is key to stability in South Asia, where all terror groups including al-Qaeda, Taliban, LeT and JeM are "working much more closely together" now than a year ago, top US military commander Mike Mullen has said.
Mangalore Chemicals and Fertilizers Limited (MCF), a UB Group company and manufacturer of fertiliser, is planning to expand its specialty fertiliser business in the next couple of years. The company, which has over 50 new generation fertiliser products in its basket, plans to expand the business through its integrated nutrient management division, set up four years ago.
A cartoon in a Delhi newspaper, which allegedly depicted a Victoria policeman as a member of hate group Ku Klux Klan in the wake of attacks on Indians, has sparked an outrage in Australia with acting Prime Minister Julia Gillard condemning it as "deeply offensive".
Come 2010 and the small-car market is likely to witness intense competition with at least four new players set to launch their products in the market.
The Orissa government plans to woo major players in the food processing industries to promote investment in this sector. They will be contacted for setting up manufacturing base in the state.
The car finance market is hotting up with ICICI Bank and Axis Bank slashing interest on new car loans.
TECH TONIC
The IT industry is exiting its worst year ever as global IT spending is all set to decline 5.2 per cent, according to Gartner, Inc, an information technology research and advisory company. However, the IT industry will return to growth in 2010 with IT spending forecast to total $3.3 trillion, a 3.3 per cent increase from 2009.
A new “old” Royal Enfield is born. We ride the Enfield Classic.
The Indian Auto Gas company, engaged in distributing LPG for automobiles, plans to set up 1,000 gas filling stations across the country over a three-year period at a cost of Rs 700 crore, a top company official said.
Ranju Sarkar / December 4, 2009, 0:36 IST
At a time when Karnataka has been struggling to attract investments, Tamil Nadu has attracted investments worth Rs 15,000 crore during 2009, majority of which was driven by the automobile industry. According to government sources, since 2006 investments worth Rs 46,100 crore have come into Tamil Nadu.
The market is likely to be volatile on the last day of the expiry of the December series as rollovers in index and stocks futures on the penultimate day were substantially lower than the same time last month.
Japanese car maker Toyota Motor Corp, which is coming out with a compact car by December 2010 in India, will produce 70,000 units in the first year, a top official of Toyota-Kirloskar Motor said.
The car major Maruti Suzuki will launch a new family car "Eeco" with a 1,200cc petrol engine in the under-Rs 4 lakh segment, at the upcoming Auto Expo in the capital.
On the eve of the first anniversary of the terror attacks in Mumbai, British Prime Minister Gordon Brown today lauded the response of Indian government and the people to the strikes, saying they were "neither cowed nor provoked but stood resolute".
The issues of land acquisition and ways to remove problems faced by foreign and domestic investors, especially at the implementation stage, are likely to come up at a meeting the Centre will hold with state industry ministers here tomorrow.
Biofuels have a limited role in India due to land limitation and food security issues, Environment Minister Jairam Ramesh said today, a view which differs from the official line pushing for a 20 per cent blend of such fuel in gasoline and diesel by 2017.
Home appliances manufacturer, Whirlpool India is looking to strengthen its position in the air-conditioner segment and plans to launch smart and affordable range of cooling solutions by February next year, a senior company official said.
Surajeet Das Gupta / New Delhi August 20, 2009, 0:11 IST
Shankar Acharya / New Delhi December 24, 2009, 0:49 IST
Guess what were the advertisements you saw most on television in November. Not sure? Well, personal care products, primarily toilet soaps, were the most advertised products on TV last month, data from TAM Adex, a unit of TAM Media Research, which tracks advertising across media show. The share of toilet soaps was 5 per cent, similar to that of October.
Pune-based Bajaj Auto, India"s second biggest two wheeler manufacturer today stated that the company has recorded a growth of 52 per cent in sales of motorcycles at 249,681 units in October as against 163,850 units recorded in the same month a year ago.
Things are beginning to look better for the hospitality industry across the country, with an increase in occupancy levels to 10-30 per cent and hotel rates getting closer to the pre-recession ones.
The world"s largest software maker Microsoft, today launched the much-awaited "Windows 7" operating system (OS) with a host of tools for multimedia applications for business and retail customers.
7Seas Technologies Limited, a Hyderabad-basd game development company, has collaborated with Intel to reach out to new gaming customers. Through the tie up, 7Seas" multi-genre PC racing game ‘Kraze’ will be made available on Intel"s Business Exchange (BX), an online technology marketplace, from next month.
The Internet Corporation for Assigned Names and Numbers, or Icann, has set the ball rolling for web addresses in scripts other than Latin. This will allow uniform resource locators (URLs), as web addresses are called in virtual parlance, in languages other than English, including Hindi, Tamil or Bhojpuri.
Global rating agency Standard & Poor"s (S&P) today assigned its "BBB" corporate credit rating to Wipro Ltd, the country"s third largest software exporter, implying better financial health and cost efficiency.
The Central Board of Excise and Customs (CBEC) has issued Circular number 26/2009-cus dated September 30, 2009, clarifying various changes made consequent to announcement of the new Foreign Trade Policy (FTP). Exporters must take note of the following:
Galla Foods Private Limited, owned by the promoter family of industrial and automotive battery manufacturer Amara Raja Group, is targeting to capture 10 per cent share of the fruit drinks market in India in the next five years.
German automobile giant Volkswagen, which has picked up almost 20 per cent stake in Japanese car major Suzuki Motor Corporation, may source small cars from Maruti Suzuki (in which Suzuki has 54 per cent stake) for the European market and sell them under its own brand name.
World"s top forging company Bharat Forge reported a sharp decline of 68.03 per cent in consolidated net profit to Rs 20.33 crore during the fourth quarter of the financial year 2008-09 as against Rs 63.6 crore posted over the same quarter a year ago.
Kerala-based South Indian Bank (SIB) has registered 55.64 per cent growth in net profit at Rs 60.11 crore for the first quarter of the fiscal.
The constitution of a tribunal to settle the dispute over Mahadayi’s waters between Karnataka and Goa, where it is called Mandovi) has come as a rude shock to the farmers of North Karnataka who were eagerly waiting for the completion of the Kalasa-Banduri nalla project.
With the country’s capacity to manufacture medicines at competitive prices and drugs worth $80 million going off-patents soon, there is a big opportunity for investment in the drug manufacturing sector, Health Minister Ghulam Nabi Azad said today.
R Gopalan, a 1976-batch IAS officer, has been appointed as the Financial Services Secretary in the Finance Ministry.
India Inc today urged the Finance Minister to continue the stimulus packages till firm signs of economic recovery are visible, and also reducing the corporate tax rates.
Oil India (OIL) has planned an investment of more than Rs 4,550 crore for the next 18 months in exploration and other expansion activities, company officials said today.
The mutual fund industry has come for some serious criticism in the recent past. The reason: It has completely missed the stock market rally that started from early March and has given returns of over 70 per cent to investors. Madhusudan Kela, head (equities), Reliance Mutual Fund, which has the highest average assets under management and investor base, speaks to Palak Shah and explains why fund houses are being judged unfairly. Excerpts:
Raj Oil Mills finally settled at Rs 118 on the BSE today. The debutant touched an intra-day high of Rs 133, up 6.5% from its opening. The counter clocked a volume of over 17.3 million shares on the first day.
Almost a year after its inception, the Indian Institute of Technology, Gandhinagar (IITGn) has got its own director in Sudhir K Jain. An expert in earthquake engineering, Jain graduated with a BE in civil engineering from IIT Roorkee before he went on to pursue a masters degree, as well as PhD in structural engineering. In an interview with VINAY UMARJI & CHITRA UNNITHAN, Jain talks about his plans of making IITGn “one of the finest institutions in the world”. Edited excerpts:
Buoyed by healthy growth in the first quarter, public sector Corporation Bank today said it expects its total business to cross Rs 1,50,000-crore mark during the current fiscal.
The government has put forward a proposal to do away with the yearly fiscal deficit target from the next financial year (2010-11). Instead, it wants to fix the target as an average over an economic cycle of five to six years.
Adidas, which launched its premium lifestyle product – Originals — in India two years ago, is still in the process of educating customers about the different story that the collections, represented by the Trefoil logo, has to tell vis-à-vis its regular "performance’ brands. Timo Pape, adidas’ Director Sport Style, Asia Pacific, spoke to Suvi Dogra about the German sports wear company’s strategy to increase the share of Originals to one-fifth of its business in India. Excerpts:
The Shekhar Bajaj-spearheaded Bajaj Electricals is open to acquisitions, both domestic and overseas, in its related lines of businesses with the ticket-size in the range of $25-50-million, a top company official said.
Karnataka is likely to witness a marginal rise of about 10 per cent in sugarcane production for the next sugar season commencing October 2009. This is despite a rise in the statutory minimum price of sugarcane announced by the Centre for the next year.
Ajay Modi / New Delhi September 17, 2009, 0:39 IST
Riding on all-time high realisation and a sharp jump in profitability, domestic sugar companies are looking to strengthen their balance sheet by reducing debt. Prices are at an all-time high and companies expect it to remain firm for at least the next four-five quarters.
The country"s largest private sugar producer, Bajaj Hindusthan, today said it has raised Rs 723.18 crore through the issue of shares.
Siemens, the German engineering giant, says it plans to expand its green energy portfolio to enable ¤25 billion (approximately Rs 1,74,339 crore) savings globally by 2011, with significant carbon dioxide (CO2) reduction from its products and processes in key markets, including India.
Tata Power today announced the completion of allotment of $300 million Foreign Currency Convertible Bonds (FCCBs) on November 20.
Swiss banking major UBS today said it aims to achieve the target of about 15 billion Swiss francs (around $14.7 billion) pre-tax profits per year over the next three to five years.
The world"s largest retailer, Wal-Mart Stores Inc, today reported a 3.2 per cent rise in profit at $3.25 billion for the quarter ended October this year, with rise in productivity and improved inventory management supporting its profitability.
Simbhaoli Sugar reported profit of Rs 71.9 crore in the second quarter of financial year 2010. The company has made a loss of Rs 29.1 crore in the corresponding quarter last year.
The government would contest the claims of European steel product makers that it is subsiding domestic manufacturers and has asked the engineering industry to collect data that would help in defending Indian firms.
A day after the term of the outgoing Assembly in Maharashtra expired, Congress and NCP today held fresh discussions to sort out the vexed issue of portfolio sharing and break the deadlock over government formation.
The government today re-introduced Companies Bill in the Lok Sabha to replace a 52-year-old law and simplify regulations dealing with formation, mergers and acquisitions and winding up of companies.
Emke Group, which operates the biggest hypermarket chain in the Middle East under the LuLu and Al Falah brands, is entering the lucrative Indian market by developing the biggest shopping mall in Kochi, in Kerala.
The nationalised Indian Overseas Bank (IOB) today opened its new regional office Puducherry today.
Emke Group, which operates the biggest hypermarket chain in the Middle East under the LuLu and Al Falah brands, is entering the lucrative Indian market by developing the biggest shopping mall in Kochi, in Kerala.
Ispat Industries today said its board has approved its plans to raise Rs 500 crore by selling shares to investors.
Joe C Mathew / Mumbai November 6, 2009, 0:48 IST
Apollo Hospitals Enterprise (Apollo Hospitals) has reported a net profit after tax of Rs 34.06 crore for the quarter ended September 30, 2009, as against Rs 30.13 crore in the same period previous fiscal, an increase of 13 per cent.
Arnav Pandya / Mumbai September 27, 2009, 0:28 IST
Financial services major Nomura Holdings has posted a profit of 27.72 billion yen in the second quarter, buoyed by strong growth in retail and asset management segments and expansion of its business overseas.
Hiring activity particularly in the manufacturing and infrastructure sectors is expected to pick up in the third quarter of this fiscal on the back of the country"s economy showing signs of recovery, a top official of online recruitment portal Naukri.Com said.
Diversified business conglomerate ITC Ltd is targeting a Rs 1,000-crore turnover from its stationery business in three to five years, led by new product launches targeting school children and institutions. It’s current revenue from this business stands at Rs 280 crore.
HSBC InvestDirect today said its Singapore-based wholly owned subsidiary IL&FS Investmart Asia Pacific will surrender the capital markets services license granted by the Monetary Authority of Singapore.
ICICI Prudential AMC has emerged as the top earner by providing a return of 8.73 per cent on the EPFO funds, invested by the private fund house during the nine months period ended June 30.
BS Reporter / Mumbai October 27, 2009, 0:18 IST
Price may be raised to Rs 4,250 per mBtu.
Morgan Stanley India Primary Dealer , which commenced operations early this week, aims to be amongst top five bond houses in terms of market share.
With Finance Ministry"s defiance pushing fuel retailers into red, Oil Minister Murli Deora today requested Prime Minister Manmohan Singh to immediately issue over Rs 20,870 crore worth of bonds to state-run firms to make up for losses they incurred on fuel sales.
Business Standard / New Delhi December 22, 2009, 0:28 IST
The Reserve Bank of India (RBI) on Friday said it would ask banks to furnish details of their direct and indirect exposure to Dubai World, the beleaguered Dubai government-owned holding company which asked for more time to repay its debt.
Constitutional amendment to be basis of new tax regime.
The two-month-long arguments in the legal dispute on gas supply between RIL and RNRL ended today, with the central government’s counsel firing salvoes at both the warring Ambani brothers for apportioning shares in public property.
Amid growing opposition to the human consumption of genetically-modified brinjal, also referred to as Bt brinjal, in various quarters, Environment and Forests Minister Jairam Ramesh will travel across the country in January to hold consultations.
ONGC Videsh, the overseas investment arm of state-run Oil and Natural Gas Corporation, is in talks to set up a refinery in Nigeria even as Indian companies look at sourcing LNG from African nations.
Domestic crude oil production in India declined by 1.2 per cent in HI of the current fiscal from the same period a year ago due to fall in output by oil exploration and production major-- ONGC, an economic think-tank said in its report.
ONGC and ONGC Videsh (OVL), the overseas investment arm of ONGC, in association with the Hinduja Group and Petronet LNG, have entered into two broad enabling agreements with Iranian authorities for participation in development of gas fields and liquefaction facilities in Iran, in return for assured minimum six million tonnes a year of LNG on long-term basis. ONGC made an announcement on the Bombay Stock Exchange (BSE) today.
Kerala Finance Minister T M Thomas Issac today said that the government has no plan to cut tax rates on petroleum products.
Spice Energy Group company Cals Refineries and Bharat Petroleum Corporation (BPCL), a Navaratna PSU, have signed a memorandum of understanding (MoU) for off-take of petroleum products from Cals.
Vanita Kohli-Khandekar / New Delhi November 24, 2009, 0:18 IST
Indian women may not have proportionate representation in companies, but they are better off than women elsewhere. Eleven per cent of 240 large companies — Indian-owned as well as multinational, private as well as state-owned — have women CEOs, according to a study carried out by executive search firm EMA Partners. In comparison, only 3 per cent of the Fortune 500 companies have women CEOs.
South Korean steel giant Posco has been asked by the Environment Ministry to take the consent of local tribals as required under the Forest Rights Act before commencing its proposed steel project in Orissa.
Realising the enormous business potentials of Commonwealth Games 2010 in Delhi, Birmingham City is keen to further the trade ties with India through the mega-sporting event.
The Sensex and the Nifty closed in the red on Friday on profit-booking in technology stocks and lack of interest in other pivotals at current levels. The trading volume on the F&O segment remained lackluster as the Nifty provided little scope for trading since it moved in a tight range of 20-30 points on Friday.
A consortium of Bharat PetroResources, Videocon Industries and the US-based Anadarko Petroleum Corp have discovered additional oil in their block in the Campos basin, off the Brazilian coast.
The Dharwad division of the Insurance Employees’ Union has opposed the UPA government’s move to take up discussion and passing two bills pertaining to the insurance sector during the winter session of the Parliament that began on November 17.
The ambitious Solar Mission of India, which envisages to generate 20,000 Mw of solar power by 2020, would come as a boost for the solar plates and accessories manufacturing industry of the country.
State-run Indian Oil Corporation (IOCL) has proposed to double its investments on its Research and Development in order to develop newer technologies, a top company official said today.
The markets were propelled this week by good economic data, the central government"s reforms agenda and strong global markets. The Sensex ended higher by 690.55 points or 4.27% at 16,848.83 and the Nifty closed at 4,998.95, up 202.80 points or 4.23%.
The trading pattern in the Futures & Options (F&O) segment suggests that the Nifty could breach its immediate support of 4,820 and find support at 4,750. Daily technical indicators are currently oversold but without any backing from other studies. According to a technical analyst at JM Financial, the chart set-up remains weak and hence positive surprises are unlikely.
Timothy Geithner / November 1, 2009, 0:58 IST
Maruti Suzuki, the country’s largest manufacturer of cars, is also quite cash-healthy, markedly so in comparison to many of its competitors.
Minority shareholder of Golden Tobacco Pramod Jain today made an open offer for acquiring another 25 per cent stake in the Sanjay Dalmia-promoted company, a move that could possibly open a clash between them over management control.
Mahindra Satyam slipped to a low of Rs 109 and finally ended at Rs 110, down around 7%. The counter witnessed trades of 46.44 million shares on the BSE as compared to the two-week daily average traded volumes of 7.23 million shares.
Ramsarup Industries, a leading manufacturer of steel wires in India, has signed a power purchase agreement for its waste heat, CO-gas based 22 MW power plant with West Bengal State Electricity Distribution Company (WBSEDCL) , a state government owned electrical utility company.
A big controversy on procurement of Rs 35,000 crore worth equipment by telecom behemoth BSNL is brewing with position taken by the two government nominees on the Board, threatening mega expansion programme of the PSU.
The government will infuse equity into Air India by March, but only if the ailing state-run carrier manages to generate another Rs 2,000 crore by increasing revenue and cutting costs.
The Indian entertainment and media (E&M) corporates will prefer Hollywood over Bollywood in terms of investment in the near future, as over 90 per cent of the Bollywood movies flop annually, a study said.
The Aamir Khan-starrer 3Idiots is the most-awaited Bollywoood film of 2009. Producer Vidhu Vinod Chopra is banking on this to bargain for an exceptionally good financial deal.
The Prime Minister’s Office (PMO) is taking a final view on the report of a task force which suggested easy access to bank finance and preference in public sector procurement to the micro, small and medium enterprises (MSMEs).
The $2 billion World Bank loan the government is seeking for road development will reduce the total borrowing needs of the National Highways Authority by 20 per cent to Rs 1,53,421 crore over the next 21 years.
Business Standard / New Delhi December 17, 2009, 0:56 IST
The US Treasury has suddenly shelved its plan to begin offloading stocks worth $5 billion in Citigroup after an unlively response from investors, says a media report.
Refraining from making any comment on the Shahrukh Khan detention episode, the Obama Administration today said it wants to build better relationship with the Muslim world.
Mukesh Ambani, India’s richest man and chairman of the country’s largest private sector company, Reliance Industries, has been ranked the fifth-best CEO in the world by Harvard Business Review.
Things are looking up for the DTH business. Why, then, is everybody so glum?
Parle"s looking to bite into Britannia"s Bourbon biscuit market.
Soaring prices of the raw material had squeezed their margins to almost nil.
Some of the operators plan to move court.
The road to Lalgarh, in the heart of West Bengal’s Naxal badlands, is now secure. But it is still a distance too far for many of the districts" administrators to travel.
Taking a leaf from positive signals emanating from the stock markets in the last few sessions, companies in Uttar Pradesh hope to see further boost to the state’s industrialisation in 2010.
Analysts say the crisis may discourage realty firms from venturing into that market
Nuclear Power Corporation of India (NPCIL) and National Aluminium Company (Nalco) today signed a Memorandum of Understanding (MoU) for setting up nuclear plants in the country.
Ashoka Buildcon Limited (ABL), a city-based BOT (build, operate and transfer) operator for infrastructure projects, has reportedly secured a Rs 580-crore contract from construction major Larsen and Toubro’s subsidiary – L&T PNG Tollway Private Limited.
Vedanta Group has asked Orissa government to restrict entry of foreign NGOs in the area where it proposes to mine bauxite, as part of its $8-billion project in the state, saying they were instigating locals.
Indian consumer durables major Videocon Industries has decided to buy Finnish company Elcoteq, engaged in contract manufacturing of mobile phones and other electronic items, in a deal estimated at around $73 million.
All-weather roads in the villages of the country has doubled the income of rural households, raised literacy rate by 10 per cent, and appreciated land prices by up to 80 per cent, says the World Bank. “In 2000, about 40 per cent of India’s 825,000 villages lacked all-weather roads ...with access to roads, incomes have soared.
Union finance minister Pranab Mukherjee today said that construction on coal bearing areas should not be a problem, allaying apprehensions from the state government over Coal India’s objections on having industrial projects in the Asansol-Durgapur belt of Bardhaman district.
Bloomberg / January 5, 2010, 0:16 IST
India’s second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.
Ranbaxy Laboratories, received the final approval in Canada to manufacture and market Ran-Simvastatin tablets from Health Canada, Therapeutic Products Directorate. The total generic market size of Simvastatin tablets in Canada is $CAD153 million.
Minister of state for petroleum and natural gas Jitin Prasada, in a written reply to the Rajya Sabha, today said the Comptroller & Auditor General would audit the product sharing contracts (PSC) of Reliance Industries Ltd’s D6 gas block in the Krishna-Godavari basin for 2006-07 and 2007-08.
The government today said Mukesh Ambani-run Reliance Industries has provided most of the papers relating to its eastern offshore KG-D6 gas fields and the nation"s top auditor CAG is ready to begin audit of expenses incurred in developing the fields.
Two greenfield plants to come up at Visakhapatnam and Hyderabad.