Welspun Gujarat to demerge its Plate-cum-Coil mill into separate entity

Welspun Gujarat to demerge its Plate-cum-Coil mill into separate entitySteel-pipe producer, Welspun Gujarat Stahl Rohren Ltd has announced the demerger of its Plate-cum-Coil mill into a 100% subsidiary.

A senior company executive commenting on latest situation said, "The move will allow better financial control, better fiscal efficiency by rationalization of various applicable taxes, duties and create an independent identity of high-end steel business."

Following the demerger, a separate team with independent board and management would be structured, he added.

Fearing shoe-attack, Modi addresses rally surrounded by a net

Fearing shoe-attack, Modi addresses rally surrounded by a netNaroda Patiya (Gujarat), Apr 21: After a series of shoe attacks on politicians in the past few days, Gujarat Chief Minister Narendra Modi created a stir when he addressed an election rally here surrounded by a protective net.

The authorities are taking extra care to protect Modi, so a protective net was put on the stage to safeguard the Gujarat Chief Minister.

The shoe hurling bug has bit the people after an Iraqi journalist hurled shoe at the former US President George W. Bush.

India’s first woman photojournalist, Homi Vyarawalla, to get first Nano in Vadodara!

Homi VyarawallaThe very first owner of Tata Nano in Vadodara will be the 96-year old, first woman photojournalist of India - Homi Vyarawalla.

In rather interesting series of incidents, Vyarawalla, who had recently written a Rs 95,000 cheque for Tata's brand new wonder car, was told by officials from Tata Motors that she would be the first 'out-of-turn' Vadodara owner of the Nano, in July!

Congress not interested in development: Gujarat CM

Congress not interested in development: Gujarat CMBanaskantha (Gujarat), Apr 20: Bharatiya Janata Party (BJP) leader and Gujarat Chief Minister Narendra Modi on Monday said that the Congress was not interested in development of the country.

“The Congress is not interested in development issues. They just want to remain in power for which they indulge in vote bank politics,” Modi said while addressing an election rally here.

Modi further said that he has a magic medicine to solve all problems of the people of the State.

RIL withdraws Jamnagar refinery’s EoU status; to sell fuel in domestic markets

Reliance Industries LtdFollowing the recent withdrawal of the export-oriented unit (EoU) status of Jamnagar refinery, a move facilitating the sale of its products in the domestic market, Reliance Industries Ltd (RIL) is expected to get on with it selling fuel in the country, next week onwards.

RIL's decision to go in for a change in status of the refinery is reported to have come in the wake of a nosedive in the prices of international crude and petroleum product. The drop in prices has reduced the company's its export realization, thereby indicating lower margins.

Suzlon Energy’s shares plunge 19% reportedly due to blade supply problems

Suzlon Energy LtdWith the Wall Street Journal reporting that some problems had occurred in Suzlon Energy Ltd's supply of blades to REpower Systems AG for a project in China, the shares of the company - India's foremost wind-turbine generators' manufacturer - plunged 19 percent to Rs 55.95 on the National Stock Exchange on Thursday.

While Suzlon's blades have reportedly been rejected, the company - which owns 74 percent of Germany's REpower and is looking at increasing its stake beyond 90 per cent - denied any problem, saying that prototypes were being tested and the actual delivery would begin in a couple of months.