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COMPANY

Tata Technologies gets Rs 141-cr investment from two entities

Tata Technologies today said it has completed a round of equity funding for Rs 141.06 crore($30 million) from Alpha TC Holdings Pte Ltd and Tata Capital Growth Fund I. The investment

represents a 13.04 per cent equity stake on a fully diluted basis, an engineering and design

company that provides software for automotive, aerospace, industrial as well as consumer goods.

Alpha TC Holdings and Tata Capital Growth specialise in investing in mid-sized firms within

India that are market segment leaders and demonstrate a high growth potential.

HCC bags Rs 298-cr contract for Narmada canal

Sardar Sarovar Narmada Nigam Ltd (SSNNL) has awarded a Rs 298.63-crore contract to leading

engineering and construction company Hindustan Construction Company Ltd for construction of 

the Limbdi Branch Canal.The canal will benefit 189 villages in 11 talukas of Ahmedabad,

Bhavnagar and Surendranagar districts in Gujarat. It would extend irrigational benefits from the

 Narmada waters to 2.71 lakh acres in these districts. The scope of work includes constructing

canal earthwork, lining, structures and service roads of distributaries and minors of the canal,

including maintenance and operation for five years. The project will be completed in 18 months.So far, HCC has constructed seven irrigation dams, 18 barrages, 35 water treatment plants, 70

sewage treatment plants, India's first and largest private sector water supply project in Tirupur.

Nalco may buy minority stake in Indonesian coal mine

 National Aluminium Company today said it may buy a "minority" stake in an Indonesian coal

mine to ensure long-term supply of dry fuel to its proposed $ 4 billion project in the South-Asian

nation. "We intend to buy a minority stake in the coal firm with which, in the next four weeks,we will forge the contract for long-term supply of coal for getting around 8-10 million tonnes per 

annum."Any decision on buying stake or entering just into a long-term contract will be taken by

our Board, scheduled to meet within a month. The decision will entirely rely on the valuation.

the company is intend to opt for buying minority stake in the coal firm. However, if the valuation

is too high, we may even refrain from buying the stake and instead go for the long-term contract.

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 Nalco is setting up a 0.5 mtpa aluminium smelter and 1,250 MW coal-based captive power plant

at East Kalimantan province in Indonesia. It had earlier sought expression of interest (EoI) for 8-

10 mtpa coal supply from local miners.

ECONOMY

Exports post highest growth of 37.5% at $245.86 bn

The country’s exports went up by 37.55 per cent to $245.86 billion during FY2010-11,

demonstrating robust demand for Indian merchandise not just in Western economies, but in new

markets like Latin America and Africa as well. Imports, however, were higher at $350.69 billion

in FY2010-11, despite growing at a lower pace of 21.6 per cent amid increasing crude oil prices.

This translates into a trade deficit of $104.82 billion for the 2010-11 fiscal.With respect to the

month of March, 2011, India’s exports rose by a handsome 43.85 per cent to $29.1 billion vis-a-

vis the same month of the previous financial year, according to data released by the Commerce

Ministry on Monday. On the other hand, imports in March totalled $34.7 billion, up 17.27 per 

cent year-on-year.The country’s total merchandise trade has almost touched $600 billion - half of 

India’s gross domestic product of $1.2 trillion.

GLOBAL

Fed Says Banks Eased Terms as Loan Demand Rose

Banks eased lending terms in the first quarter as they forecast improvement in the U.S. economy

and companies sought more loans, according to a Federal Reserve survey. “The April survey

indicated that, on net, bank lending standards and terms generally had eased somewhat further 

during the first quarter of this year,” the central bank said today in its quarterly survey of senior 

loan officers. The looser standards for business loans reflected more competition among banks

and some banks “also pointed to a more favorable or less uncertain economic outlook,” the Fed

said. The Federal Open Market Committee renewed their pledge to hold interest rates low for an

“extended period” and complete a $600 billion bond purchase program by the end of June.