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TATA Steel has achieved its target of 708

Corporate Highlights

Infrastructure major Punj Lloyd has won a contact from Bihar government for a water treatment plant to supply 6.224 million litres of drinking water per day to fluoride affected areas at Kharagpur.

Tyre manufacturer Apollo signed a supplementary Memorandum of Understanding with the Tamil Nadu government for increasing its investments in the state to Rs 2,100 crore as part of its Greenfield project.

Lanco Infratech said that a 732 MW gas-based power project set up by its unit has achieved financial closure after it tied up Rs
18.27 billion in debt from six financial institutions. The Andhra Pradesh-based power project would entail a cost of about Rs 26.10 billion, including an equity component of Rs 7.83 billion.

Sajjan Jindal-led JSW Steel is understood to have emerged as the highest bidder for acquiring the assets of Bellary Steel and Alloys, put on the block by a consortium of lenders led by IFCI.

Economic Updates

Domestic passenger car sales jumped by 28.91% to 1,48,681 units in December 2010, compared to 1,15,337 units in the same month in 2009. According to the figures, released by the Society of Indian Automobile Manufacturers (SIAM) today, motorcycle sales in the country during December 2010 grew by 27.13% to 7,53,358 units from 5,92,589 units in the same month previous year.