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Bhushan Steel granted prospecting license for 280.75 ha.
The Orissa government has granted Prospecting License (PL) in favour of Bhushan Steel Ltd (BSL), over an area of 280.755 hectares spread over Marsuan,Tiriba and Narasinghapur villages in Keonjhar district. This follows the Centre’s prior approval to the proposal.

North Block rejig ahead of Budget
Finance Minister Pranab Mukherjee’s core team for the Budget will witness a crucial change on February 1. With the government announcing the appointment of Sunil Mitra as revenue secretary, the West Bengal cadre official will now move to North Block from the Department of Disinvestment, where he spearheaded the recent divestment drive of public sector companies.

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Yes Bank plans to raise $150-200 mn via QIP
Yes Bank plans to raise $150-200 million through private placement of shares this fiscal, a senior bank official said.
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SC notice to GSK Consumer on Heinz India's plea

The Supreme Court today issued a notice to Glaxo Smithkline Consumer Healthcare in a case relating to the advertising war between two popular health drink brands Horlicks and Complan in India. - Britannia to enter flavoured milk mart - GSKCH aims to make Horlicks Junior Biscuits a Rs 50 cr brand - Glaxo-Smithkline Health aims to make Horlicks Nutribar a Rs 100 cr brand - Horlicks stretches out - GlaxoSmithKline to launch up to 12 products this year - Horlicks aims Rs 50 cr sales from biscuits segment The response was sought from Glaxo Smithkline (GSK), the producer of Horlicks, on a petition filed by Heinz India which sells Complan food brand. However, the apex court refused to stay the proceedings, before the Delhi High Court, in a suit filed by GSK against Heinz over an allegedly disparaging advertisment. A Bench headed by Justice G S Singhvi issued a notice to GSK on Heinz India"s plea against telecast of an advertisement which allegedly slandered Horlicks commercial that compared its Complan with Horlicks. Heinz India said that it was compelled to issue the commercial in response to the advertisement issued by Horlicks that showed its product Complan as overpriced and inferior to Horlicks. Senior counsel Soli Sorabjee and Anuradha Salgotra, appearing for Heinz, said the advertisement issued by GSK was clearly intended to specifically target Heinz"s consumers to switch to Horlicks by projecting that Complan only made a child "taller" whereas Horlicks at a lower price made children "taller, stronger and sharper". They said that they had explained to the Delhi High Court the ingredients used in both Complan and Horlicks and also the "false" campaign by GSK that Complan was priced higher.


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