News snippets

~ Industrial production fell to a six-year low of 3% in March 2008
against 14.8% in the same month last year. Annual industrial
growth in 2007-08 was at a three-year low of 8.13% over 11.6%
in 2006-07. (BS)
~ Bharti Airtel is expected to submit revised bid to acquire South
Africa’s MTN as Dubai based Emirates Telecommunications
(Etisalat) joins the race. (ET)
~ The spot rupee touched a one-year low of 42.11 against the US
Dollar today due to a heavy demand for dollars from oil and nonoil
importing companies and a lack of supply of the currency. (BS)
~ The Indian steel industry will take a decision on revising its prices
after the government reviews the export duty on the alloy. (BS)
~ Ranbaxy Laboratories has signed a strategic product
development agreement with German pharma major Merck for
anti-infective drugs. (ET)
~ ONGC launched India's first pilot plant to extract helium from
natural gas at Kuthalam in Nagapattinam district. (BS)
~ Reliance, ITC queue up for railways’ land of 4,800 hectares, to be
leased out to retailers and logistic companies. (ET)
~ Arvind Mills plans to invest ~Rs400cr in expanding its retail
presence. (ET)