Posco port in Paradip

New Delhi, Dec. 27: Posco today asserted that it will develop a captive port near the state-owned Paradip port for its cargo shipment, contrary to the wishes of the Centre. ?You need to realise that ours is a 12-million-tonne steel plant to be built at a whopping Rs 52,000 crore. We do need a dedicated port facility and there is nothing wrong about it,? said Sang Moo Doh, Posco India?s chief representative. The assertion comes within days of the shipping ministry asking Orissa to discourage Posco from developing a separate port at Jatadhari, 12 km from Paradip.

Drug prices

New Delhi, Dec. 27: The government today raised drug prices for formulations by as much as 1.2 per cent, while the cost of bulk drugs antibiotics, mainly penicillin, was reduced by up to 31.73 per cent.

CERC note

New Delhi, Dec. 27: Power regulator CERC is likely to fix the trading margins at 6 paise per unit of electricity instead of the earlier proposal of 2 paise per unit.

Radico stock

Mumbai, Dec. 27: Radico Khaitan will split its shares in the 1:5 ratio. The EGM held yesterday approved the stock split, where shares of Rs 10 each would be split into five shares of Rs 2 each.

Thermax move

Mumbai, Dec. 27: Thermax Ltd today said Bombay High Court has sanctioned the amalgamation scheme of two wholly-owned subsidiaries, Thermax Babcock & Wilcox and Thermax Capital Ltd, with it.