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Govt to invite bids for three UMPPs soon
The qualifying bids for three Ultra Mega Power Projects (UMPPs) in Orissa, Chhattisgarh and Tamil Nadu would be invited by the end of the current fiscal, a senior government official said today.

Bond yields to remain high
The yield on government bonds may stay elevated next week on apprehension that Reserve Bank of India (RBI) may hike cash reserve ratio as a signal to manage inflationary expectations.

News of the day

'The commitment and direction of reform are important'
Business Standard / New Delhi January 15, 2010, 0:19 IST
Public Company

Coal India to go 'Public Ltd' before divestment

Paving way for its disinvestment, the country"s largest coal miner, Coal India, will soon become a "Public Ltd" company from a private one at present. "For disinvestment and coming out with public offer, the pre-requisite is to become a public limited company. We will adopt a resolution in a month or two to become a public Ltd company from private Ltd at present," Coal India Chairman P S Bhattacharyya said over phone from Kolkata. Coal India produced about 403 million tonnes of coal in the last fiscal. The company has a capital expenditure plan of Rs 3,200 crore for this fiscal and aims to increase production by 7.5 per cent to 435 million tonnes by the end of the current financial year. Coal India had a profit before tax of Rs 8,738.46 crore in the last fiscal.


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