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TATA Steel has achieved its target of 708

Corporate Highlights

Binani Cement has signed a Memorandum of Understanding (MoU) with the Gujarat government to set up a 610 MW power plant, a captive jetty and 5 million tonnes per annum (mtpa) cement making facility entailing an investment of Rs 4,200 crore.

Film distribution and production house PVR Pictures, a 60% subsidiary of the listed PVR, will invest around Rs 100-125-crore in FY 12 to up its distribution activities and production of 3-4 Bollywood movies.

Indian Hotels Co, which owns the Taj chain, plans to execute a pipeline of 43 projects over the next 36-48 month. This will result in addition of 10,000-12,000 rooms.

Indraprastha Gas Ltd may raise the rates by another Rs 8 per kg this year, as the company is forced to buy expensive imported liquefied natural gas (LNG) in the absence of allocation from domestic fields.

India's second largest IT services exporter and IT bellwether Infosys Technologies has announced its results for the quarter ended December 2010 (Q3FY11). The company has reported consolidated net profit at Rs 1,780 crore as against Rs 1,737 crore in previous quarter, a growth of 2.48% (based on IFRS - International Financial Reporting Standards).Operating profit also increased just by 2.34% at Rs 2,147 crore as against Rs 2,098 crore on quarter-on-quarter basis.

Economic Updates

Food inflation declined, but still remained at an elevated level of 16.91 per cent for the week ended January 1, prompting the government to assure more steps to rein in prices of essential items that have moved up.