NMDC to bid for 50% Stake in Australia's Legacy Iron Ore which will be its overseas acquisition which will around 200 Crore. The stake sale would enable the Australian miner to unlock and monetise the value inherent at its Mt Bevan iron ore mines and gain a large cash infusion.Legacy Iron Ore holds Iron ores in central Yilgarn and Pilbara areas of Western Australia.
Wednesday 14 September 2011
August Inflation at 9.78%
India's wholesale price index ( WPI) rose 9.78% in August on year-on-year basis. Which means that there is higher probability for another rate hike on 16th August RBI meeting even as economic growth slows and global outlook weakens. As RBI wants inflation to be between 6.5-7%.
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