Business News

JSPL to set up university in Raigarh

Jindal Steel and Power Limited

Jindal Steel and Power Limited will run a private university in Raigarh district of Chhattisgarh.

On the recommendation of the Chhattisgarh Private University Regulatory Commission, the state government has given its consent to start three new private universities in the state, officials with higher education department said.

Besides OP Jindal University, to be managed by the JSPL, Chhattisgarh government has given consent for setting up MAI University and Amity University in the state. The separate letter of intent for each university has been issued by the government.

Godawari Power subsidiary to acquire power plant

Godawari Power and Ispat Limited subsidiary Hira Ferro Alloys Limited has agreed to acquire 8.5MW bio mass power plant in Chhattisgarh on slump sale basis.

Godawari Power and Ispat in filing with the Bombay Stock Exchange said that Hira Ferro Alloys has entered into a definitive agreement with the owner of the power plant.

It said that the acquisition of the power plant is subject to compliance of certain conditions which are required to be fulfilled by the seller within a period of one month from the date of agreement or such extended period as may he mutually agreed

Real estate business booms in Chhattisgarh

espite slow-down in the market, real estate business in Chhattisgarh has seen a boom in the financial year.

With the state government collecting revenue of Rs 800 crore from stamp duty and registration fee on land transactions, the size of real estate industry has grown to over Rs 11,000 crore in Chhattisgarh.

Lanco Infra raises debt of Rs 5500 cr from PFC

Lanco Infratech touched an intraday high of Rs 40.60 and an intraday low of Rs 39.90. At 09:35 hrs the share was quoting at Rs 40.15, up Rs 0.45, or 1.13%.
The company has raised debt of Rs 5500 crore from PFC to finance its 1320 mw power generation unit in Chhattisgarh, reports The Economic Times.

It was trading with volumes of 201,246 shares. In the previous trading session, the share closed down 0.75% or Rs 0.30 at Rs 39.70.
Share Price Movement During The Last 12 Months
Period Price Latest Price Gain/Loss (Rs.) % Gain/Loss
3-Days 38.50 40.15 1.65 4.29

Dainik Bhaskar Group announces Bhaskar Genius Scholarship 2011

Dainik Bhaskar Group announced the biggest ever scholarship program 'BHAKSKAR GENIUS SCHOLORSHIP' across 8 states - Madhya Pradesh, Chhattisgarh, Rajasthan, Gujarat, Chandigarh, Punjab, Haryana and Himachal Pradesh. The scholarship is open for students in Class I to XII. The prize money available for distribution is Rs 1 Crore +, making the event even more rewarding. This is the second year of the Scholarship Award.

Chhattisgarh mulls aluminum plant in Surguja

Sify cited Dr Raman Singh CM of Chhattisgarh as saying that his government would examine options to set up an aluminum plant in the state's poverty hit northern region that has large stocks of bauxite.

Dr Singh said that government will soon examine all options to have an aluminum plant in Surguja district that has massive stocks of bauxite. Government will even consider proposals of private companies if they plan to set up a plant in the district.

Aditya Birla Group may consider Sona Power project

New Delhi: The Aditya Birla Group is considering the acquisition of Sona Power’s proposed 600MW coal-based project in Chhattisgarh’s Raigarh district as part of plans to re-enter the sector.

“The due diligence for the project has been completed by the Aditya Birla Group,” said a person aware of the development who did not want to be identified.

Mint had reported on 30 January about the group’s decision to get back into the power sector.

Chhattisgarh down fighting Maharashtra to enter final

Mumbai, Jan 29 (PTI) Maharashtra women fought hard beforegoing down to Chhattisgarh 72-84 here today in the lastleague match that piloted the latter into the final of theUnited Phosphorous Savio Cup all-India Basketball Tournament.

Buzz up!
The local girls, who were egged on by the crowd, eventook a slender 3-point lead in the third quarter beforefloundering against their most experienced rivals in the lastquarter and making their exit.

Chhattisgarh will take on Southern Railway tomorrow inthe final of the tournament hosted by Don Bosco.

Avoid mega proj in coal-rich belts to avoid fuel shortage: Govt

NEW DELHI: The Centre today advised states not to build mega projects in coal-bearing areas, afraid that such a move would "sterilise" at least 20 billion tonnes of the dry-fuel reserves and aggravate coal shortage in the country.

"We have asked Chief Ministers of coal-bearing states to not to allow large super structures or expansion projects on coal-bearing areas, as this would steelies at least 20 billion tonnes of reserves," Coal Minister Sriprakash Jaishwal said.

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