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Mumbai: In the biggest-ever reaction to a public stock bidding, the state-owned Power Grid Corporation of India (PGCIL ) has got subscription of Rs 1,90,000 crore, a slice of which came from provident and retirement funds capitalists who infrequently insert money into equity.

The company will raise about Rs 2,985 crore through the IPO that has been oversubscribed 65 times. Capitalists were offered a price band of Rs 44 to 52 for building the book.

L&T’s Engineering Construction and Contracts (ECC) segment, in association with Outotec GMBH, has bagged an Rs 7,620 million order for construction of a sinter plant, from SAIL.

Sinter plant of 2 X 204 square metre grate area with a total capability of 3.80 million ton annually, would be fulfilled on a turnkey basis, at the IISCO Steel Plant (ISP) of SAIL, at Burnpur, West Bengal. The project is likely to be completed in 30 months.

Welspun India has registered a 22.41 per cent growth in its net earnings, which stood at Rs 92.3 million for the quarter ended June 2007, as against Rs 75.4 million in the same period of the last year (2006).

The company recorded a 33 per cent increase in its net sales at Rs 2,647.42 million for the quarter (June 2007) as compared to Rs 1,988.95 million in 2006.

Total Income was seen at Rs 2,771.28 in the quarter, as against Rs 1,950.72 for the year ago period.

Mumbai: For the week ended September 1, inflation rate, which is based on the wholesale-price-index dangled to 3.5 per cent as compared to 3.79 per cent in the previous week.

In late January, annual inflation jumped to a more than two-year high of 6.69 per cent, but relented after the RBI stiffened plan and the administration slash duties on a slew of commodities in order to chill prices.

Washington, Sep 14: It seems that Britney Spears could have steered clear of her embarrassing VMAs performance, had she not been pushed into performing.

According to a report in the New York Times, the “Toxic’ singer’s record label, Jive was unwilling to sign her for the show, but Spears still went on to perform, thanks to her entertainment lawyer Gary Stiffelman, who recommended otherwise.