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Pre-IPO placements back in vogue
The recovering IPO market is set to breathe life into pre-IPO placements, which were virtually dead for the past one-and-a-half years. Sources said a number of companies slated to hit markets soon were scouting for strategic investors to benchmark their public issues.

Nalco SAPs at Damanjodi demand R & R benefits
About 1000 Substantial Affected Persons (SAP) in the mining and refinery complex of National Alumina Company Limited (Nalco) at Damanjodi in Koraput district have demanded rehabilitation benefits at par with the SAPs of the company in its Angul smelter and power complex.

News of the day

20-25% emission cuts by 2020 voluntary domestic commitment: min
The government today said the pledge to cut 20-25 per cent emissions intensity by 2020, which is equivalent to the 2005 level, is a voluntary domestic commitment and not globally binding, the Rajya Sabha was informed today.
Business Ideas

RIL to expand petrochemical complex by 2 MT

Mukesh Ambani-run Reliance Industries (RIL) today said it will expand its Jamnagar petrochemical complex by adding 2 million tonnes (MT) per year of olefins and matching downstream capacities. - RIL AGM okays 1:1 bonus; Nov 27 record date - Gas is not pvt property of Ambani bros: Govt - Oilfield output in RIL"s KG-D6 to peak by yr-end - Investors, lenders look for performance, not promises: MDA - RIL to focus on renewable energy, says Mukesh Ambani - RIL outlines growth plan, scouts for overseas buyouts "Reliance has taken up new petrochemical capacity additions," RIL Chairman and Managing Director Mukesh Ambani told shareholders at the company"s 35th annual general meeting here. Ambani said the company wants to realise a commitment it made in 2007 of adding 2 MT per year of olefins (key ingredient for making polymers) and matching downstream capacities at its petrochemical complex at Jamnagar. "The recent economic downturn has also provided us opportunities to optimise capital costs, schedules and execution methodology for these projects. With this addition, Reliance will have close to 4 MT of olefins and downstream capacities," he said. Reliance Industries has a comprehensive petrochemical play across polymers, synthetic rubbers and chemicals. This has been strengthened with the commissioning of the 9,00,000-tonnes per year polypropylene plant at Jamnagar, making the company the fourth largest polypropylene producer in the world.


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