Vedanta taps Gujarat for bauxite for Orissa refinery
By Jatindra Dash

Bhubaneswar, Sep 2 (IANS) Anil Agarwal-led Vedanta Resources has begun talks with the Gujarat government to ensure long-term supply of bauxite for its refinery in Orissa's Kalahandi district after its mining project in the Niyamgiri hills was refused permission by the central government on environmental grounds.

Mukesh Kumar, chief operating officer of Vedanta Aluminium Ltd, said the company is also prospecting the raw material in other states after the environment ministry rejected its mining ... Read More

IndiaFirst Life to expand distribution reach
Chennai, Sep 2 (IANS) IndiaFirst Life Insurance, a three-way joint venture of Andhra Bank, Bank of Baroda and British financial institution Legal and General, will open 12 new branches to sell its insurance plans.

"We have been selling policies only through the branches of our promoter banks - Bank of Baroda and Andhra Bank. We will be opening 12 branches by the end of this month," P. Nandagopal, managing director of the Mumbai-based company, told IANS. ... Read More

Reliance Broadcast Network soars on fund raising plans
Mumbai, Sep 2 (IANS) Reliance Broadcast Network Ltd (RBNL), part of the Anil Dhirubhai Ambani Group (ADAG), was trading at the upper circuit filter limit at Rs.116 on the Bombay Stock Exchange (BSE) Thursday.

The scrip had opened 4.98 percent higher than its previous close, a day after the company said it would raise over Rs.400 crore.

After the stock markets closed Monday, RBNL said its board had approved a proposal to raise over ... Read More

Bajaj Auto's August sales rise 55 percent
New Delhi, Sep 2 (IANS) Bajaj Auto Thursday reported an all-time high monthly sales of 3,29,364 vehicles in August, a 55 percent rise over 2,13,072 units in the same month last year.

The company also reported a 31 percent rise in exports at 98,578 units, compared to 75,164 units for the like period of last year.

Bajaj Auto sold 2,89,176 two wheelers last month, up from 1,82,441 units sold in August 2009. While the cumulative sales ... Read More

Tata Power consortium wins Indonesian geothermal power project
Mumbai, Sep 2 (IANS) Tata Power Thursday said a consortium it belongs to has won a bid for a 240 MW geothermal power project in Indonesia.

The consortium, in which Tata Power holds a 47.5 percent stake, will undertake a detailed exploration of the Sorik Marapi geothermal project in northern Sumatra, the company said in a regulatory filing to the Bombay Stock Exchange.

"The expected commercial operation date for the project is June 2015," said the ... Read More

Kerala to serve ultimatum to Smart City Dubai on Kochi project
Thiruvananthapuram, Sep 2 (IANS) Kerala Chief Minister V.S. Achuthanandan Thursday said Smart City Dubai, builder of the Rs.1,500-crore Kochi IT township, will be asked to say within 15 days whether or not it is going ahead with the project.

Achuthanandan said the government will send a letter to Smart City Dubai Chief Executive Fareed Abdul Rehman, asking the company to express its intention.

"The letter to them has been approved by the cabinet and it has ... Read More

Nakoda to set up wind power plant in Madhya Pradesh
Mumbai, Sep 2 (IANS) Yarn manufacturer Nakoda Limited will invest Rs.33 crore on a 5.25 MW wind power plant in Madhya Pradesh, the company announced Thursday.

The plant will be set in Jethana village of Ratlam district. It will have seven turbines of 750 KW each, aggregating to a total power production of 5.25 MW.

The windmills for the project will be acquired from Global Wind Power Ltd, a company of the Reliance ADAG Group, and ... Read More

M&M plans passenger variant with mini-truck Maxximo
Chennai, Sep 2 (IANS) Automotive major Mahindra and Mahindra (M&M) is planning to launch a passenger variant of its recently launched mini truck Maxximo.

"We are planning several variants to Maxximo, including a passenger carrying one. One of the variants will be launched in 12 months time," Chief Executive (Automotive Division) Rajesh Jejurikar told reporters here Thursday.

Rival Tata Motors has the Magic model, the passenger carrying variant to its hugely popular mini truck Ace. ... Read More

Hero Honda launches new variant of Super Splendor
New Delhi, Sept 2 (IANS) The world's largest two-wheeler manufacturer, Hero Honda Motors, Thursday launched a new model of its bestseller bike, Super Splendor, with new features in the deluxe segment and said it is planning to launch new models ahead of the festive season.

The new Super Splendor is priced at Rs.45,950 (ex-showroom Delhi) and comes with a 125 cc engine featuring Intelligent Ignition System (IIS) and newly designed carburettor for improved engine performance.

“This ... Read More

Company executive kidnapped in Assam
Guwahati, Sep 2 (IANS) An executive of a cement company was kidnapped at gunpoint from near Assam's main city of Guwahati Thursday, a day after two businessman abducted over the weekend were rescued by police.

A police spokesperson said Narendra Nimodia, the director of Star Cement, a local brand in Assam, was kidnapped by at least four unidentified gunmen from Jorabat on the outskirts of Guwahati around 3 p.m.

"The Star Cement executive was having lunch ... Read More