New Delhi: On Monday the Supreme Court allowed the government to be a party to the dispute between the feuding Ambani brothers. The government had petitioned the Supreme Court asking it to scrap the 2005 agreement between Mukesh Ambani’s RIL and Anil Ambani’s RNRL.
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British hedge fund Spinnaker Capital plans to sell its 25 per cent stake in cement-maker Sanghi Industries. The four Sanghi brothers have been fighting for control of the company in which they jointly own 51.01 per cent.
Profits of India’s third largest steel maker, JSW Steel fell 6.4% in the first quarter of this year. Profits fell to Rs234 crore down from Rs. 250 crore the previous year.
On Monday the Sensex surged by 446 points, closing at 15,191 while the Sensex leaped 127 points, ending the day’s trading at 4,502.
The rise in shares on Monday had its effect on the rupee. The currency rose more than one per cent on expectations of more capital inflows and a sharp fall in the dollar. At the end of trading it was Rs48.22 against the dollar.
Days after six people died at a metro construction site, India’s top auditing body the CAG has criticized the Delhi Metro for acquiring excess land when it was building parts of the ambitious city-wide commuting system. The CAG says the Delhi Metro has acquired more than three times the land it needed in some cases.
The lack of zinc in peoples’ diets is a nationwide health problem that causes everything from diarrhoea in children to chronic liver disease. But the government is now looking to science for solutions. Scientists at the department of biotechnology are trying to develop zinc-enhanced rice that could prevent zinc deficiencies.
There’s good news for travelers flying into Delhi. The civil aviation ministry plans to shuffle use of the three runways at the Indira Gandhi International Airport to avoid the long distances between runways and terminals. Taxiing at the airport can currently take up to 20 minutes.
Buying that flat screen TV may take more than swiping plastic. Payment processing firms like Visa and Mastercard have asked stores to request identity proof from their customers when they make a large purchase with their credit or debit cards. Credit card companies say this move is meant to protect customers from fraud.