The Tilaiya ultra mega power project (UMPP) in Jharkhand has been acquired by Reliance by proposing to supply power at Rs 1.77 per unit, which is the lowest price quoted by the four companies in the fray.

The government owned NTPC was the one to come with the next bid for the Rs 16,000-18,000-crore project that assured to provide power from the pithead coal project at Rs 2.39 per unit.

Jindal Steel and Power and Sterlite Industries were other two bidders. The former offered to supply power at Rs 2.69 per unit whereas latter bid the highest at Rs 2.97 per unit.

Chennai-based commercial vehicle manufacturer and Hinduja Group owned company, Ashok Leyland announced financial results for the third quarter of current financial year.

The company, under the impact of lower sales due to economic slowdown, posted decline of 82.64 per cent in net profit for the Q3 ended December, 2008. It stood at just Rs 21.09 crore in the reporting quarter as compared to Rs 121.49 crore during the same quarter last year.

The leading luxury mobile phones manufacturer Vertu launched new mobile phone, the Vertu Signature, available at Vertu boutiques and many leading watch, jewellery and department stores worldwide.

At the product launch ceremony, President of Vertu, Alberto Torres said, 'We are delighted to present our new Signature collection, here in Paris. Especially, since we launched our first ever phone in this beautiful city, back in 2002. '

Oil Marketing Companies (OMCs) have threatened to stop supply of aviation turbine fuel (ATF) to Kingfisher Airlines by midnight, in case, the carrier remains fail to clear its dues worth Rs 158 crore.

It should be recalled that oil marketing companies have already decided to supply ATF to private carriers Kingfisher and Jet Airways on 'cash and carry basis' from January 27. These carriers have been found defaulter of non-payment of oil dues for October 22 to October 31, even after crossing of 90-day credit period.

In a bid to add power to its pr

India's largest IT exporter, Tata Consultancy Services (TCS) is all set to call back about 20 per cent of its onsite staff in US to India, clearly to cut costs and mitigate impact of global slowdown on its overseas operations. The company is facing low demand with no new contracts from clients across the globe.