Presidential Elections: Support Dr.Meira Kumar

Bihar and Jharkhand governments have no choice but to support Dr.Meira Kumar. As defeat of "Bihar ki Beti" in the hands of "UP ka Beta", will invariably bring Shame to the Biharis and Jharkhandis. So, Nitish Kumar has very little option left but to support, Dr.Meira Kumar. This might also probaly correct some of the historical mistakes of not making her father, the Prime Minister of India.

Also, I don't think all the Muslim and Christian MPs and MLAs from the TDP and TRS will ever support a RSS backed Candidate, who acted against Dalit Christian and Muslin reservations. Therefore, invariably cross voting will take place, which might give the underdog, Ms.Kumar, a win. Support Dr.Meira Kumar and make her the 2nd Female President of India.

All the best to Dr.Meira Kumar...



Thursday, April 11, 2013

Jindal Steel & Power Limited (JSPL) To Issue Bonds
~~By Pranav Puri
Jindal Steel and Power Limited (JSPL) has decided to fund its expansion plans in steel and power sector by issuing bonds worth Rs.3500 Cr in domestic market, as stated in moneycontrol.com.

JSPL is keen to expand reach in domestic market and hence has lined up huge investment for its Odisha plant, of which it intends to increase capacity from 6 mtpa. Last year too in July JSPL had raised Rs.3,500 Cr from a consortium of lenders for setting up a steel plant in Odisha.

In the recent time JSPL has raised Rs.300 Cr by issuing 3,000 unsecured, redeemable NCDs to HDFC Bank.

In February, JSPL was planning to increase its stake in Australia's Apollo Minerals to 11.70% by acquiring additional 10 Mn shares of the firm for about A$ 0.4 Mn.

Recently JSPL's bid to acquire a majority stake in Gujarat NRE Coke's Australian subsidiary has not been successful, with the company managing to acquire only 31.49% stake at the end of its open offer.

Another steel company Steel Exchange India Ltd. (SEIL) is close to raising funds worth Rs.300 Cr for its pellet plant. Which were to be met through obtaining loans of Rs.200 Cr and the rest to be met by equity infusion by promoters.

In the same space SAIL also was planning to raise $27.83 Mn through 8.70% five-year bonds redeemable in three equal annual installments.

Courtesy: Deal Curry