Stock Watch

The Mumbai police have yet to pay up a sum of around 14 crores to the Brihanmumbai Municipal Corporation (BMC) as part of property tax on the police stations and staff quarters it has in the city. As of the end of the financial year, 2009-2010, the Mumbai police owe a total of 14.43 crores.

In the opening trade, the Indian markets opened flat with the benchmark indices going up, which is close to 0.1 per cent. The BSE Sensex was up by 19 points at 17,480 and the NSE Nifty gained 5 points and was trading at 5,242 at
9.21 am. Nifty support is visible at its 50 day moving average (DMA) at 5,141.

Oil stocks saw selling pressure among other sector’s indices. The oil and gas index fell down by 0.44 per cent. The FMCG and realty sectors were pressurized too. But gainers, healthcare stocks gained it raised half a per cent. Most other sectors opened with a positive note.

ADAG's Reliance Infrastructure has said that it will be constructing the 8-lane road between Worli to Haji Ali Sea Link. This will be done in association with MSRDC and will be done on a Build Operate Transfer model.

R Infra has signed a Concession Agreement with MSRDC for the construction of the road that is being termed as the biggest such project done on the Public Private Participation (PPP) front.

The companies in question have committed to build a state-of-the-art urban infrastructure, the lack of which is constantly felt in Mumbai, due to rising traffic.

The IIT-B prepared report of environment impact assessment has been sent back to the state for more clarifications, resulting in the proposed airport in Navi Mumbai not yet getting the clearance required from the Union Ministry of environment and forest. Jairam Ramesh, the Union Minister for forest and environment said that the ministry has sought for several clarifications which range from issues on conservation to the CRZ.

By the end of the next three months, the currently running black and yellow taxis in the Mumbai region will get a new colour. Transport Minister Radhakrishna Vikhe Patil recently said that the government has short-listed four combinations for the taxis in the Mumbai region.

It is to be mentioned here that Patil has been interested in changing the colour of the cabs in Mumbai for quite a long time now.

The Brihanmumbai Municipal Corporation (BMC) carried out cloud seeding experiment last year to increase the rainfall in the city. The experiment did not succeed and the authority had to make severe cuts to water supply due to deficient monsoon.

This year the BMC officials are planning to look at other ways of getting fresh water. It is highly unlikely that the BMC will carry out cloud seeding this year. Last year the BMC rented an aircraft and used it to sprinkle sodium iodide on clouds over Tansa and Modak Sagar lakes.

The southwest monsoon hit Kerala yesterday and is expected to hit parts of Karnataka and Goa within the next 48 hours. The monsoon has covered the whole south Arabian Sea, most parts of Kerala, some parts of Tamil Nadu, and parts of the southwest Bay of Bengal.

HR Hatwar, additional director general (meteorology) of the India Meteorological Department, Pune, said conditions are constructive for further progression of the southwest monsoon.

Two domestic passenger aircrafts came close to crashing into each other at Mumbai airport after almost getting onto the same landing strip, officers said on Thursday, which is days after an aircraft that crashed in Mangalore killing 158 people.

Officials said a Jet Airways flight was ready to land on an elected airstrip on Wednesday night when one more aircraft rolled in on the landing strip by mistaking it for a taxiway.

A nodal agency for city’s makeover, Mumbai Metropolitan Region Development Authority (MMRDA) has upped the estimated investment target needed for infrastructure development by over 50 percent. A Sydney based company, Solar Gem, would now provide electricity to Elephanta Island near Mumbai. To carry out the infrastructure projects in the MMR in the next four years , the development agency said that MMRDA would need a whooping Rs 1,13,000 crore , Rs 38,000 crore over and above the earlier estimates.

Om Heera Panna Mall, Andheri (West ) had a huge fire running for hours on end before it was finally put out by firemen. The fire gave firefighters a 11 hour battle before it was finally put out. “The fire broke out in the basement where a large consignment of LCD television sets were kept,” CFO Uday Tatkare said.