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TATA Steel has achieved its target of 708

Corporate Highlights

Larsen & Toubro's (L&T) buildings and factories arm has won orders worth Rs 1,181 crore during the third quarter of the current fiscal. The orders are for building residential apartments as well as factories including a specialised support facility building.

Suzlon and Vedanta Group have entered into an agreement where Suzlon will set up, operate and maintain 150 MW of wind farms for Hindustan Zinc, a Vedanta Group company, for $191 million. The projects will be set up in Karnataka, Rajasthan, Tamil Nadu and Maharashtra. The first phase of the project will see a capacity of 50 MW and will be completed by March 2011. The second and final phase of 100 MW will be progressively completed by September 2011.

JSW Steel, India's second largest steelmaker by capacity, has said that its crude steel production for the third quarter of the current fiscal has grown by 11%. Sequentially, the steel production has moved up by 4%. Steel production for the month of December 2010, at 5.70 lakh tonne, has been its highest ever monthly production.

Tata Steel and joint venture partner Riversdale Mining have reached an agreement allowing them to fully own the $1 billion Benga power plant project in Mozambique. The coal-powered plant, with initial production seen by 2013/2014, is expected to produce 500-600 megawatts in its first phase and 2,000 MW in later development.

Economic Updates

India's food inflation accelerated for the fifth straight week to the highest in more than a year, reinforcing fears it will spill over to broader prices and pile pressure on the central bank to tighten monetary policy. The food price index rose 18.32% in the year to December 25 and the fuel price index climbed 11.63%. This compared with 14.44 per cent and 11.63% respectively in the previous week.