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News headlines: Corporate
‰ NTPC has signed pacts with distribution utilities across the country
for supplying a total of 85,000 MW of power in the coming years.
(BL)
‰ Income Tax (IT) Department has directed Mahindra Satyam to
get its accounts for the years FY03-08 re-audited. (BS)
‰ Pratip Chaudhuri, State Bank of India’s deputy managing director
is expected to be the next chairman of SBI. (ET)
‰ Sun Pharma and Caraco have extended their marketing and
distribution and sale agreement which were to expire in January
2011 till January 28, 2012. (BS)
News headlines: Economic and political
‰ To prevent default in home loans, housing finance regulator
National Housing Board (NHB) has asked the lenders to provide
loans up to only 80% of the value of property in case individual
borrowers seek more than Rs0.2m of loans. (FE)
‰ The Planning Commission has estimated that India will see power
capacity addition of around 100GW during the 12
th
plan period.
(BS)
‰ The Employees’ Provident Fund Organisation (EPFO) has urged the
government to bar workers from pulling out their PF balances on
changing jobs. (ET)
News headlines: Corporate
‰ Gujarat Cooperative Milk Marketing Federation (GCMMF) marketing
dairy products under the brand 'Amul' today announced a panIndia hike in milk prices by Re 2 per litre. (FE)
‰ Citibank is caught in an estimated Rs4bn fraud and forgery by
staff at its retail banking unit in Gurgaon, involving funds from
wealthy individuals and corporate clients. (ET)
‰ Punj Lloyd has bagged a contract for construction of two
commercial buildings in a township being developed by the Hirco
Group at its Special Economic Zone at Panvel, Maharashtra. (FE)
‰ Baring Private Equity Partners is reportedly in talks with the
promoters of Cethar Vessels, an unlisted power equipment
manufacturer, to buy 7.5% equity stake for about Rs5bn (ET)
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