BCCI tries to woo Sahara back as IPL sponsor

Sahara was paying Rs3.34 crore per Test match, one-day international and Twenty20 International under the new terms of its deal worth Rs532 crore, to the BCCI.

New Delhi: Jolted after Sahara pulled out as sponsor of the Indian cricket team and owner of Indian Premier League (IPL) franchise Pune Warriors, the Board Of Control For Cricket In India (BCCI) is desperately trying to make up with the corporate giant and said it "doesn't want to decide anything in haste", reports PTI.

Two days after Sahara snapped its 11-year-old association with Indian cricket, the BCCI said it is "open for dialogue" with the company to sort out the issue.
 
"We are open to discussions, open for dialogue because they have been our partner for 11 years. We don't want anything to be decided in haste," BCCI vice-president and IPL chairman Rajiv Shukla said.

Sahara decided to part ways with the BCCI on Saturday morning, an hour before the IPL 2012 auction - which went ahead without any representation from Pune Warriors.

The group complained that the BCCI did not give due consideration to its genuine grievances with regards to players and number of matches in the IPL.

Sahara's pullout means the fate of Pune Warriors players also remains uncertain and in case they don't get a new franchise, they may not be able to play at all.

But Mr Shukla seemed optimistic about resolving the matter and said Pune Warriors is still associated with IPL.

"So far they [Sahara Pune Warriors] are still an IPL franchise unless we get anything in writing from them. We are extremely positive," the IPL chief maintained.

Sahara had signed a renewed sponsorship agreement with the BCCI on 1 July 2010 till 31 December 2013 and was paying Rs3.34 crore per Test match, one-day international and Twenty20 International under the new terms. The deal is said to be worth Rs532 crore.

Sahara entered the IPL bandwagon last year by buying Pune Warriors for Rs1702 crore, making it the costliest franchise in the Twenty20 event.

The BCCI stands to lose Rs2,234 crore if Sahara sticks to its stand. However, the Board can find another sponsor to neutralise the losses.

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L&T Bags Rs1,937 crore order from GVK for Construction of Road

L&T Construction is proud to be associated in the construction of all of the three mega projects of NHAI.

Infrastructure IC of L&T Construction has bagged a major order worth Rs1,937 crore from the GVK group for design, engineering, procurement and construction for 4-laning of a major portion of Shivpuri - Dewas section of NH -3 in Madhya Pradesh totalling 235 km. The project has to be completed in 27 months.
 
This project is a part of the phase IV of the National Highway Development Programme and is one of the three mega projects of NHAI (National Highway Authority of India).

With this order, L&T Construction is proud to be associated in the construction of all of the three mega projects of NHAI, according to a press release from the company.

In the late afternoon, Larsen & Toubro was trading at around Rs1,375 per share on the Bombay Stock Exchange, 1.57% up from the previous close.

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RBI launches industrial outlook survey for Jan-March 2012

The RBI industrial outlook survey is intended to provide useful forward-looking inputs for policymakers, analysts and businesses. The latest will be the 57th round of the survey.

The Reserve Bank of India (RBI) said it has launched its Industrial Outlook Survey for the January-March, 2012, period. The survey gives an insight into the perception of non-financial public and private limited companies engaged in manufacturing activities about their performance and future prospects, a press release issued in Mumbai stated. The assessment of the business sentiment in the present quarter and expectations for the ensuing quarter are based on qualitative responses to 20 major parameters. These include overall business and financial situations, demand indicators, price and employment expectations and profit margins, among other parameters.

The survey is intended to provide useful forward-looking inputs for policymakers, analysts and businesses, it said. The RBI has been conducting the Industrial Outlook Survey on a quarterly basis since 1998. The latest will be the 57th round of the survey.

It has entrusted the task of conducting the survey for the current quarter to the Centre for Research Planning and Action (CERPA). The CERPA would get in touch with several manufacturing companies during this quarter for seeking their valuable feedback so that it can be included in the survey, it added. However, those manufacturing companies that are not approached by CERPA can also participate in the survey by downloading the survey schedule from the RBI's official website.

CERPA, which was established in 1972, conducts social science research, providing consultancy services on developmental issues to help planners and policymakers and also conducts charitable services for the disadvantaged and poor sections of the country, it said.

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