Total income from operations rise to Rs 47 crore from Rs 29 crore in the year-ago period

Lakshmi Mills Q4 net at Rs 8.44 cr

Press Trust of India

GMR Infrastructure Limited, the Bangalore-based infrastructure major, is set to infuse Rs 1,700 crore fresh equity capital in its energy business during the present financial year.The GMR Energy business presently consists of six operating assets with a cumulative capacity of 837 Mw and four generation projects under various stages of construction with an aggregate capacity of 3,788 Mw.The fresh equity will be infused in three of its projects - GMR Kamalanga Energy, Emco, Chhattisgarh and transmission projects. "We will infuse Rs 440 crore in Kamalanga, Rs 130 crore in Emco, Rs 830 crore in Chhattisgarh and Rs 15-20 crore in transmission projects this year. We will commission the second and third units of 350 Mw each of Kamalanga project in July and September, and the second unit of Emco in July," Madhu Terdal, Group CFO, GMR Group, said.The company will use the funds it mobilised through the sale of a 70 per cent stake in GMR Energy Singapore Pte Limited. It had generated Rs 1,231 cro

GMR Infra to infuse Rs 1,700 cr equity into power projects in FY14

BS Reporter

The 100 per cent export-oriented unit (EoU) manufactures around 250 machines a month. It primarily exports its products to Africa,West Asia, Australia, New Zealand and South America

Tussor Machine to invest Rs 40 cr in Coimbatore

Two Lok Sabha members G Vivekanand and Manda Jagannatham, and former PCC chief K Keshava Rao formally joined the Telangana Rashtra Samithi (TRS) at a public meeting held in Hyderabad on Sunday.Welcoming the Congress leaders into his party, TRS president K Chandrasekhara Rao said the party would intensify the movement for a separate statehood with 'Chalo Assembly' on June 14.The three leaders had announced their decision to join the TRS on Thursday after the deadline set by them for the Congress leadership to take a favourable decision on the formation of the separate Telangana state ending on May 31, 2013."No forces can stop the Telangana movement. And, nobody is ready to believe in Ghulam Nabi Azad's false statements," Rao said.Congress party general secretary and incharge of the party affairs in Andhra Pradesh, Ghulam Nabi Azad on Sunday said in the national capital that the party would hold some more consultations before taking a decision on the Telangana issue this month.Meanwhile,

2 MPs, Keshava Rao join Telangana Rashtra Samithi

Strongly opposing construction of Polavaram dam in neighbouring Andhra Pradesh, Odisha government, on Saturday, asked the Planning Commission of India not to grant revised investment clearance to the controversial multi-purpose project."As the matter is sub judice in the Apex Court, it will be prudent to wait till the judgement is given as the project parameter and estimates may change," Chief Minister Naveen Patnaik wrote to Planning Commission deputy chairman Montek Singh Ahluwalia.Stating that the Odisha government has filed a suit in the Supreme Court challenging the Ministry of Environment and Forest's environmental clearance, Patnaik pointed out that the state administration also opposed to the R&R (rehabilitation and resettlement) clearance accorded by the Ministry of Tribal Affairs (MOTA)."The state government has prayed the apex court to declare both the clearance null and void," the chief minister said.Patnaik also said that no public hearing was conducted in the affected

Odisha opposes construction of Polavaram dam

A coke oven battery was inaugurated, on Saturday, at the Rourkela Steel Plant as part of its Rs 12,000-crore ongoing modernisation programme.Second of its kind in SAIL, the new battery, inaugurated by SAIL chairman C S Verma, is top charged having compound twin flue, under jet, regenerative heating with partial recirculation of waste gases, RSP sources said.The total investment in entire coke oven battery complex was around Rs 1,400 crore.The complex comprised a modern environment friendly new coke oven battery, coke dry cooling plant, coal handling plant and coal chemicals unit.Post expansion, RSP would more than double its capacity from the current 2 million tonne to 4.5 mt of hot metal and commensurate increase in crude steel and saleable steel capacity.With this key unit coming to stream, RSP has completed a major chunk of the projects activities.Earlier, two key units - the new sinter plant and the raw material circuit of the ore bedding and blending plant Phase-II had already bee

New coke oven battery inaugurated at Rourkela steel plant

Congress today lodged a complaint with the Election Commission alleging that Trinamool Congress workers threatened voters in the presence of micro-observers at some booths in the Howrah Lok Sabha constituency where a bye-election was held.West Bengal Congress president Pradip Bhattacharya said, "The complaints have been sent to the Chief Election Commissioner and Chief Electoral Officer here with all details."He felt that the micro-observers should have taken action against attempts to capture booths in the Howrah North, Bally and Panchla Assembly segments."Some TMC workers even moved in motorbikes from one booth to another in front of security personnel and micro-observers and smashed tv cameras of photojournalists of a local channel" he alleged.Howrah bypoll: Over 45 per cent votes cast till 2 pmOver 45 per cent votes were cast in today's by-poll to Howrah Lok Sabha seat in West Bengal till 2 pm.Joint Chief Election Officer Saibal Barman said the polling was peaceful so far with no i

Congress alleges TMC workers threatened voters

A top official of ponzi scheme Saradha Group, who had been absconding for the past two months, was arrested at Purba Jadavpur on the outskirts of Kolkata, police said today

Saradha group top official arrested

BJD to raise special status issue at Ramlila maidan rally

Parties intensify campaign politics to lure voters

India's first coal-to-liquid (CTL) project proposed in Odisha by Jindal Synfuels Ltd, a subsidiary of Jindal Steel & Power Ltd (JSPL), will have to comply with some fresh conditions imposed by the state government.The state has insisted that the original promoters must retain at least 51 per cent equity in the CTL project till three years of start of commercial operations."Besides, the company needs to achieve financial closure within a year of possession of two-thirds of allotted land. We also have to furnish status on project milestones every six months," said a senior JSPL executive.The CTL project envisages production of 80,000 barrels of petrol, diesel, kerosene and aviation fuel per day and it is proposed to come up at Durgapur in Angul district at an estimated cost of Rs 60,000 crore.The draft MoU to be signed with JSPL is ready. It has been decided that the MoU tenure shall be for nine years with a clause that after every three years, the project will be reviewed. The compa

New conditions imposed for JSPL's CTL project

Business Standard

Hyderabad-based GVK  Power & Infrastructure Limited has received environmental approval by the Coordinator-General for its $4.2-billion Kevin's Corner mine project in the Galilee Basin in western Queensland of Australia.The Kevin's Corner project, proposes a 30-million tonne per annum (mtpa) underground and open-cut coal mine and other associated infrastructure 65 kilometre north-west of the Alpha township.The project would rely on the railway infrastructure of the adjacent Alpha Coal project to transport coal to the Port of Abbot Point, Bowen."This development is yet another breakthrough towards our goal to be the premier and the most reliable coal supplier to the world. The progress in this project further strengthens our commitment to develop world-class projects in a timely and responsible manner," GVK chairman and managing director, GV Krishna Reddy, stated in a press release on Saturday.In May 2012, GVK's Alpha Coal Project received key environmental approval from Queensland

GVK Power gets 'green' signal for Kevin's Corner mine project

Bangalore-based Snap Fitness India, the Indian master franchisee of Minneapolis, US-based fitness chain Snap Fitness, is in the process of raising a $10-million (approximately Rs 55 crore) growth fund to fuel its expansion in the country

Snap Fitness India to raise $10 million to fund expansion

Rs 350-crore expansion to create fitness centres in India, abroad on track

Country Club to acquire properties in US and UK

Minister of state for infrastructure development and information Santosh Lad said that he would seek legal opinion on the controversial allotment of land acquired for airport expansion in Hubli to private organisations before initiating any action

Karnataka may review land allotment for airport

The induction of M B Patil into the cabinet and allotment of the water resources portfolio to him has raised the hopes of people in North Karnataka

Water resources minister to find himself facing tough challenge

Main opposition Congress has demanded CBI inquiry into wheat procurement by state government

Demand CBI inquiry into wheat procurement

Main opposition Congress has challenged the recently announced slew of sops for labourers by chief minister Shivraj Singh Chouhan

MP Congress flays Chouhan over sops to labourers in election year

Congress today poked fun at BJP saying there was a "civil war" in the Opposition party over the issue of its prime ministerial candidate after L K Advani showered lavish praise on Madhya Pradesh Chief Minister Shivraj Singh Chouhan vis-a-vis Narendra Modi

Cong pokes fun at BJP on PM candidate

In a bid to assist the government in ensuring better participation of marginalised groups in higher education policy, the Indian Institute of Management, Ahmedabad (IIM-A) has come out with a working paper on the same

Reservation incentive for marginalised students to enter college, suggests IIM-A study

Idea is to seek development of khadi as a must-have product among youth

NID, Khadi Board in talks for khadi design studio

By-elections for two Lok Sabha and four assembly seat in Gujarat on Sunday saw low voter turnout, but remained peaceful, state elections officials said

Low voter turnout in state by-polls for  2 LS, 4 assembly seats

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