JSW Steel denies report founder may sell stake

JSW Steel denies report founder may sell stake
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First Published: Thu, Jun 18 2009. 09 59 PM IST
Updated: Thu, Jun 18 2009. 09 59 PM IST
Mumbai:JSW Steel Ltd said on Thursday that vice-chairman and managing director Sajjan Jindal doesn’t plan to sell any of his stake in the company, denying a ET Now television channel report that said the founder may sell a 10% holding. There’s no truth to this news, spokeswoman Sharmila Banerjee said over the phone in Mumbai.
JSW Steel shares, which have more than doubled this year, dropped 9.32% to close at Rs573.45 in Mumbai trading.
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US set to allow GE India to import its technology
Washington: The Barack Obama administration said it will certify that General Electric Co. (GE) in India can import sensitive US civilian technologies.
The US commerce department will certify GE as its first validated end-user in India, meaning the company can buy without specific government approval US-made products that might have a military use, commerce secretary Gary Locke said on Wednesday.
“This is an important step in enabling a more rapid and efficient flow of sensitive technology between India and the US,” the commerce secretary said in his address to the US India Business Council.
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First Published: Thu, Jun 18 2009. 09 59 PM IST