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GVK Power buys L&T's 17 per cent BIAL stake
Hyderabad-headquartered infrastructure developer, GVK Power and Infrastructure Ltd (GVKPIL), on Sunday acquired the entire stake of 17 per cent held by L&T Infrastructure Development Projects Ltd in Bengaluru International Airport Ltd (BIAL) for a total consideration of Rs 686 crore.

Krishna echoes Gates, hints India could attack Pak
In the backdrop of the US remarks that India would have limited patience if a Mumbai-type attack recurs, External Affairs Minister S M Krishna today said the government will have to be prepared to meet any eventuality.

News of the day

Power sector to get 50% of extra gas from KG-D6 field
Half of Reliance Industries Ltd’s (RIL’s) KG-D6 additional gas production will go to the power sector. The Empowered Group of Ministers (EGoM), headed by Finance Minister Pranab Mukherjee, has finalised consumers for the 50 million standard cubic metres a day (mscmd) of gas that RIL would produce beyond the initial 40 mscmd for which customers had been decided earlier. The fertiliser sector has been allocated 15.3 mscmd out of the initial 40 mscmd gas production.
Management

NIIT Tech's Q4 net down 15 per cent

Foreign exchange losses of Rs 22 crore in the quarter ate into the profits of Delhi-based NIIT Technologies, which posted a profit after tax (PAT) of Rs 26.3 crore for the fourth quarter ended 31 March, 2009, down 15 per cent from Rs 31 crore in the corresponding quarter last year. Sensex ends up 35pts Sequentially, PAT jumped 56.5 per cent from Rs 16.8 crore in the trailing quarter while revenue declined 8.6 per cent from Rs 248.5 crore. “Verticals like insurance, travel and retail, that contributed 81 per cent to revenues last year, have now contributed 84 per cent.,” said Arvind Thakur, CEO, NIIT Technologies.


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