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Nifty likely to face resistance at 5,300
Investors were reluctant to buy or sell aggressively today ahead of a closely-watched US job report on Friday. The trading volume in Nifty futures and options (F&O) suggested mere change of hands as buy- and sell-side traders were evenly matched.

High carryover in range-bound market
A breakout is more probable, since the market rarely range-trades inside 150-200 points for extended periods.

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PSU oil firms cut jet fuel prices by 5.7%
After increasing it four times in a row, the state-run oil firms today cut jet fuel prices by 5.7 per cent on easing international rates.
Small Business

RPDAC fails to resolve land rate issues of Jindal India Power

The Rehabilitation and Peripheral Development Advisory Committee (RPDAC) meeting for three Angul based industries including the Rs 15000 crore steel project of Jindal Steel and Power Limited today failed to resolve issues related to land rate for the Jindal India Power’s 1200 Mw project in the area. - PPSS to intensify stir against Posco - Rs 5,961 cr JITPL power project in uncertainty - Jindal Steel Q4 net up 24%, declares dividend - Tata JV, JSPL get blocks for $18-bn CTL project - JSPL bags Rs 42,000 cr coal-to-liquid project - JSPL to invest $20 mn to mine diamonds in Congo The meeting, held under the chairmanship of JA Khan, the revenue divisional commissioner of northern division, decided to constitute a sub-committee to look into the demand of the land losers for payment of land compensation at the rate of Rs 15 lakh per acre for the project. The sub-committee will comprise of the district collector and superintendent of police of Anugul, the concerned MP, MLA and Zilla parishad chairman. The power plant authorities, who are yet to initiate their construction work at village Derenge at Talcher, agreed to give job to all 480 displaced .The remaining will be offered cash package as decided by the RPDAC. Jindal Steel and Power Ltd announced to absorb all displaced persons on the basis of their eligibility in the first phase. It, however, will consider to offer jobs to other land losers and affected persons in phases as the work on the 12 million tonne steel plant, to be put up in two phases, progresses. The JSPL disclosed that the project would generate direct and indirect employment for 18000 when fully completed. The RPDAC rejected demand by section of the JSPL land losers to enhance the ex- gratia on land. The Monnet Ispat and Energy Limited which faces periodical protest from the villagers of Malibrahmani, a project affected village, agreed to give employments to 162 displaced people of the village. It also agreed to send village youths for ITI training on its own cost. The RPDAC rejected villagers’ demand for higher compensation for land. The transport minister Sanjeev Sahu, government chief whip Rabi Pani, collector D.V.Swami. DIG Lalit Das, SP Pratik Mahanty and all MLAs including two MPs, Tathagat Satpathy and Amar Pradhan were present in the RPDAC meeting among others.


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