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TATA Steel has achieved its target of 708

Corporate Highlights
Coal Minister Sriprakash Jaiswal announced that Coal India will set up 20 new washeries with a combined capacity of 111 million tonnes to help realise a better price for its produce. Twenty new washeries with an annual capacity of 111 million tonnes per annum are being taken up by Coal India (CIL) during the XI and XII Five-Year Plans. At present, CIL operates 17 coal washeries, out of which 11 are coking coal and the remaining are non-coking coal washeries, with a total capacity of 39.40 million tonnes per annum.

Engineering major Larsen & Toubro has received a Rs 1,100 crore order from Gujarat State Electricity Corporation (GSECL) to set up a 375-MW gas-based power plant at Dhuvaran, near Baroda. The project, which will be executed by the gas-based power projects business unit of Baroda-based L&T Power, will be commissioned during the next Five-Year Plan.

Coal India (CIL) is interested in tapping shale gas, a form of natural gas trapped in shale rock formations, to improve its bottomline and allow the government to reduce imports of natural gas in the process. Caught napping when the government permitted the exploration of coal bed methane gas, CIL does not want to miss a similar opportunity this time around, as the government is very keen to step up exploration for natural gas.

Economic Highlights
India's headline inflation eased slightly with the wholesale price index (WPI), India's main inflation gauge, rising 8.23% in January from a year earlier, compared with an 8.05%. The index rose 8.43% in December from a year earlier. Manufactured products saw some moderation easing the inflation, but the central bank will likely keep tightening monetary policy because price pressures are still above its comfort zone.