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Raja takes on BJP over spectrum distribution
Facing allegations of irregularities in spectrum allotment, Telecom Minister A Raja today hit out at the BJP saying free distribution of radio frequency among operators during the NDA regime may have cost the country over Rs 1.6 lakh crore.

Centre to set up model markets for perishables: Minister
The Central government would set up "model" markets in every state for preserving perishable commodities such as vegetables and fish to help farmers get better remunerative prices, Minister of State for Agriculture K V Thomas said today.

News of the day

RBI to seek Dubai World exposure details from banks
The Reserve Bank of India (RBI) on Friday said it would ask banks to furnish details of their direct and indirect exposure to Dubai World, the beleaguered Dubai government-owned holding company which asked for more time to repay its debt.
Public Company

Hind Copper to invest Rs 3.5k cr to up prod to 11 MTPA

The government today said Hindustan Copper would ramp up production to 11 million tonnes per annum by 2017 with an investment of Rs 3,500 crore. - Sical bags Rs 163 cr contract from Hind Copper - Hindustan Copper to appoint merchant bankers on FPO - Hindustan Copper to raise Rs 1,700 cr via FPO - Hindustan Copper rises 10% - Govt may divest stake in Hindustan Copper - Hindustan Copper rebounds, ends flat Currently, it produces 3.15 million tonnes per annum (MTPA). The company has also sent a proposal for 20 per cent share sale to the Ministry of Disinvestment, including 10 per cent for meeting its expansion needs, it said. "HCL is aggressively pursuing increase in mine production by expansion of current mines, re-opening of closed mines at Ghatsila and development of new deposit...To increase mine production from current level of 3.15 million tonne/annum (MTPA) to 11 MTPA by 2017 with an investment of Rs 3,500 crore," Mines Ministry said in a statement. It said the company has kept the option for acquiring copper deposits in other geographies open to enhance production. Regarding disinvestment the statement said, "the company has sent a proposal for a follow on public offer (FPO) to the Ministry for Disinvestment of 20 per cent of company’s equity – 10 per cent for GoI and 10 per cent for meeting its expansion needs". As per estimates, the disinvestment of 20 per cent equity could mobilise Rs 7,000 crore, half of which may be used for expansion needs.


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