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'Stimulus withdrawal will drive up car prices'
Leading car makers are considering to raise prices of their vehicles across the board, if the government withdraws the excise duty benefit in the coming Budget. The benefit was given as part of a stimulus package in December 2008, following the onset of the global economic meltdown.

GSECL plans to procure 15 lakh MT of imported coal
State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh metric tonnes of non-coking steam (thermal) imported coal. The company has invited bids from coal suppliers for supply of coal on high seas sale basis.

News of the day

IAF seeks govt consent to open fire at Maoists
The Indian Air Force (IAF) today said it had sought permission from the government to fire at Maoists if they attacked helicopters.
Public Company

Usha Martin gets carbon credits worth Rs 4.4 cr

Usha Martin Ltd has been issued 44,317 carbon credits for its Clean Development Mechanism projects by UN Framework Convention on Climate Change, data from the regulator showed today. - West Coast records PAT of Rs 20.58 cr - Usha Martin consolidated Q4 net dips 43% - I-T dept mulls tax on carbon credits The project will help the company earn substantial additional revenue by selling carbon credits. Usha Martin’s carbon credits are worth Rs 4.4 million, based on December carbon credit futures price of ¤14.50 on European Climate Exchange. Shares of Usha Martin spurted on the news. At 1025 IST, the share was trading at Rs 53.55 on the National Stock Exchange, up 14.55 per cent from Wednesday’s close. The company’s project aims at Waste Heat Recovery Based Captive Power generation at Jamshedpur in Jharkhand. The project is expected to reduce 54,340 trillion of carbon dioxide equivalent emissions annually for a fixed period of 10 years that ends November 30, 2014.


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