1. The owners of 2,150- MW Dabhol Power project, Ratnagiri Gas and Power is considering making an initial Public Offering of a quarter of its shares (Rs. 1000 Crores) by the end of this year. The Chairman, Ratnagi Gas said the offering will be followed by a Rs.500 Crore private placement of equity shares to be subscribed by institutional lenders. The Dabhol plant will be fully operational by next month and will be generating 1,700 MW power.
2. IT companies in Bangalore are getting paranoid of the recession at US and are taking all possible cost cutting measures such as reduced number of global jaunts, upcountry client visits by automobiles rather than by air route, taking pool cabs and hiring buses for internal travel, etc.
3. 54% of the Bombay Stock Exchange stocks below their 2006 price. Share market crash. The downward journey started from January 22, 2008. The sensex is down by another 5% today. Looks like a bottomless fall of share prices.
4. Reserve Bank of India is set to ban hiring of recovery agents by Banks. This is in view of the complaints of intimidation and harassment of all kinds by these recovery agents. This is line with the strictures passed by the High Court/Supreme Courts of India.
5. Fiat launches 1.3 litre diesel version of Palio Stile in India.
6. Hindujas have big plans for the health sector in Kolkata. The corporate giant is intending to set up a multi-speciality hospital in the city.
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