Few More News Headlines – 27 September, 2011

1. Prime Minister Manmohan Singh has supported Home Minister P Chidambaram in the 2G spectrum case and shown his full confidence in him.

2. Renewed talk between Maruti Suzuki’s management and its workers went unsuccessful yet again without any satisfactory result. The 29-day agitation by the workers is disrupting the normal production facility at the Maruti Suzuki’s Maneshar plant.

3. The Government has delayed the SAIL FPO for indefinite period because of adverse market condition. The whole divestment program is in jeopardy because of the current stock market condition.

4. State run ONGC has approved the Vedanta-Cairn India deal. ONGC holds 30% in the Cairn India operated oil and gas fields and the deal required ONGC’s full approval to complete.

5. Private Equity major Goldman Sachs has bought majority stake of ReNew Wind Power for Rs 1,000 crore. This is the largest private equity deal in India’s renewable energy segment as of now.

6. Indian Rupee was up by nearly 31 paise to Rs 49.14 against one US dollar because of USD selling by the export companies. Rupee was appreciated after touching its 2-year low of Rs 49.74 a US dollar yesterday.

7. A Train accident in China’s Shanghai has left more than 250 people injured with some of them very serious. It has created huge uproar in China after the deadly train crash in July.

8. Russian PM Vladimir Putin announced Anton Siluanov as Russia’s acting finance minister after Alexei Kudrin’s resignation from the post.

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