JSL hikes investment in Orissa project to Rs6,400 crore

Stainless steel producer JSL Stainless Ltd said it has increased the proposed investment on Phase-II development of its Orissa plant to Rs6,400 crore to augment production capacity to one million tonnes per annum. The project is being funded in the debt-equity ratio of 70:30.

The company, formerly known as Jindal Stainless, had originally envisaged setting up an eight lakh tonnes per annum stainless steel plant in Orissa. The original sanctioned investment on Phase-II development was about Rs6,000 crore, JSL said in a statement.

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Ashok Leyland sales jump 90% in September

Hinduja Group flagship company Ashok Leyland reported a 90.2% jump in commercial vehicle sales at 10,363 units in September against 54,48 units sold in the same month last year.

The company said its domestic sales stood at 9,513 units compared with 4,809 units sold in same month last year, up by 97.8%. Exports increased by 33% to 850 units from 639 units.

The company also reported a 99.1% increase in total domestic sales of medium and heavy commercial vehicles at 9,474 units in September 2010 compared with 4,759 units in September 2009.

On Tuesday, Ashok Leyland shares ended 0.8% up at Rs76 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.3% to 20,407 points.

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Why is silver shining?

Because the Japanese can’t have enough of it.

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