Food inflation at 17.05% YoY on Jan 22
India's food price index rose 17.05% and the fuel price index climbed 11.61% in the year to January 22.The primary articles price index was up 18.44% in the latest week, compared with an annual rise of 17.26% a week earlier. The wholesale price index, the most widely watched gauge of prices in India, rose 8.43% in December from a year earlier, compared with 7.48% in November.(Source : Moneycontrol)
ONGC’s Tripura Power Project may get delayed.
The commissioning of ONGC 727MW gas-based power project in Tripura may be delayed because of hurdles posed by a difficult terrain. Fourteen by-pass roads have to be constructed to transfer the equipment. The project is ONGC's first initiative into power generation and involves an investment of 8,000 crore.(Source: Mint)
Bajaj Hindustan takes Rs. 400 cr loan
Bajaj Hindustan Ltd. has borrowed Rs. 400 crore via a loan to refinance maturing debt. SBI and IDBI Bank led lenders helped arrange the six year facility. That loan pays an interest rate of 11.5%. (Source : Mint)
Oracle Fin Services plunges on dispute with Irish customer
Oracle Financial Services Software Ltd. declined after media reports that Allied Irish Banks Plc had dragged the Company to court over its Flex cube banking product. The Irish bank has also claimed a compensation of Rs 5.29bn. (Source :Business Standard)
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