Business Briefs
Forex kitty swells
Mumbai, July 4: The country’s forex reserves rose $932 million to $264.58 billion for the week ended June 26 compared with $263.65 billion in the previous week. Foreign currency assets during the week jumped $924 million to $253.73 billion against $252.80 billion in the previous week, the Reserve Bank of India said in its weekly review.
Cash chase
Mumbai, July 4: Jaiprakash Hydro Power will raise up to Rs 1,500 crore through qualified institutional placement of shares and issuance of foreign currency convertible bonds and depository receipts in the domestic and international markets and merge Jaiprakash Power Ventures with itself with effect from April 1, 2009.
Power plant
Balatur (Sikkim), July 4: Union power minister Sushil Kumar Shinde today dedicated to the nation the 510MW Teesta Stage V hydel plant 18 months after it was commissioned by the National Hydro Power Corporation for generation of electricity at its full installed capacity.
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