Maruti Suzuki announced after market hours on Wednesday it would recall 13,157 diesel engine cars. The company said it would inspect the 'connecting rod bolt' for units of its Swift and Ritz model diesel cars with engines manufactured between 13 November 2010 and 4 December 2010.

The Cabinet Committee on Economic Affairs has reportedly refused to give its nod to Vedanta Resources' acquisition of Cairn India for fear of being charged with ignoring state-run oil explorer ONGC's interest. A ministerial panel under finance minister Pranab Mukherjee will now examine the $9.6-billion deal and revert to the cabinet with its recommendation for a final decision.

ONGC is Cairn India's minority partner in the huge Rajasthan oil block but pays the entire royalty to the government, a key reason why the government has delayed its clearance to Vedanta Resources' deal to acquire a controlling stake in Cairn India.

Reliance Power's general manager Manoj Ojha, was killed by a gun shot by a suspected former Maoists in a Jharkhand forest on Wednesday, 6 April 2011. Ojha was killed unintentionally in crossfire between warring rebel factions, according to media reports. A team from the Anil Dhirubhai Ambani Group company had arrived at Sidppa village, in Chatra's rebel zone of Tandwa, to survey land for a project.

GVK Power and Infrastructure is reportedly in exclusive talks to buy two Australian coal mines owned by Hancock Prospecting in a deal worth A$8 billion ($8.4 billion).

Separately, GVK Power & Infrastructure said it had transferred its entire stake in its wholly owned unit, GVK Jaipur Expressway to another wholly owned unit, GVK Transportation on 6 April 2011. Subsequently, GVK Jaipur Expressway has become a step down subsidiary of GVK Power & Infrastructure. With this, creation of transportation vertical has been completed in all respects, the company said.

Neyveli Lignite Corporation (NLC) said that its thermal power stations at Tamil Nadu and Rajasthan generated a record 17,879.54 million units of power in the year ended March 2011. Similarly, NLC mines excavated 231.442 lakh tonnes of lignite in the year ended March 2011, which is also highest for any year since inception.

Shiv-Vani Oil & Gas Exploration Services' board has approved raising up to Rs. 500 crore through a qualified institutional placement. The board has approved raising funds by issuing shares or non-convertible debt instruments with warrants.

Spanco in consortium with Smart Chip, has received a letter of intent (LOI) for the contract of introducing e-governance in transport department of Punjab for five years. The contract is worth approximately Rs. 61 crore.

Shoppers Stop said it opened a new outlet at Inorbit Mall in Pune. With this, the company now has 39 'Shoppers Stop' stores under its operation.

Tulip Telecom said that its promoter company, Cedar Infonet has bought 1.12 lakh equity shares, 0.077% stake in the company from the open market. Consequently, Cedar Infonet's stake in Tulip Telecom has risen to 33.24%, comprising 4.82 crore equity shares of face value Rs. 2 each.

Reliance Industrial Infrastructure's board will meet on 14 April 2011 to consider year ended March 2011 results. The board will also recommend dividend on equity shares.

Sujana Metal Products will hold shareholders' meeting on 28 April 2011, to consider amalgamation of Lakshmi Gayatri Industries, Glade Steel, Sri Ganga Steel Enterprises and Topaz Steel India with the company.

Source :- Indiainfoline

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Posted by Prashant Gandhi on 7 April, 2011 12:00:23 PM IST #