October 18: News in pics
October 18: News in pics
A labourer works in a ferrochrome factory at Bharibramna, 20 km (12 miles) west of Jammu.
The Supreme Court said in a statement on Monday it has extended a stay on a lower court order asking Vedanta Resources' unit Sterlite Industries to close its copper smelter in south India.
The court said the stay will continue till the second week of December, allowing the unit to continue its operations.
On October 1, the Supreme Court stayed till October 18 an order from the Madras High Court asking Sterlite to shut its smelter in Tuticorin on environmental grounds.
Labourers work in a railway coal yard on the outskirts of Ahmedabad.
State-run Coal India's up to $3.5 billion initial public offer (IPO) was fully covered by afternoon on Monday, the first day of bids, stock exchange data showed.
Large IPOs in India typically see the heaviest subscription towards the close of the offering. Coal India's IPO closes on Wednesday for institutional investors and Thursday for retail investors.
Morgan Stanley, Citigroup, Kotak Mahindra Capital, Enam Securities, Deutsche Bank and Bank of America-Merrill Lynch are managers on the offer.
Labourers work inside a steel factory on the outskirts of Agartala, capital of Tripura.
Engineering conglomerate Larsen & Toubro (L&T) reported a 32 per cent rise in quarterly profit, beating market estimates, on the back of a pickup in order ution.
Net profit rose to Rs 765 crore ($173 million) in the quarter ended September from Rs 580 crore a year ago. Total income rose to Rs 9,331 crore from Rs 7,921 crore.
A Reuters poll of 17 brokerages had estimated net profit of Rs 657 crore on net sales of Rs 8,920 crore.
Shares in the company, valued at $27.3 billion, have risen about 16 per cent so far in 2010, ahead of the 14 per cent increase in the benchmark index during the same period.
Enel SpA's new hydrogen-fuelled combined cycle power plant is pictured inside the Andrea Palladio Fusina plant in Venice.
Enel SpA kicks off the sale of almost a third of renewable arm Enel Green Power (EGP) on Monday, targeting up to 3.4 billion euros ($4.8 billion) in Europe's biggest initial public offering in three years.
The Italian power group, Europe's most indebted utility, decided to push ahead with its unit's IPO and will begin a roadshow despite diminished investor appetite for renewable energy amid dwindling subsidies.
Italy's top power group and Europe's No.2 by installed capacity, keen to cut debt and protect its credit ratings, has valued EGP at between 9 billion euros and 10.5 billion euros and would sell at most 32.5 per cent if a 'greenshoe' option is exercised.
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