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GMR Infra splits stock in the ratio of 1:2
GMR Infrastructure, the Bangalore-based infrastructure major, today announced sub-division of all its equity shares of Rs 2 each into 2 equity shares of Re 1 each per share. A decision to this effect was taken at the board meeting held here today. The stock split is, however, subject to the approval of members of the company at the forthcoming annual general meeting.

UPDATE:Phase-I of ONGC's Brazil project starts
State-run Oil and Natural Gas Corporation"s deep-sea project in Brazil has begun crude oil production and output is projected to touch 1,00,000 barrels a day soon.

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Take a long-term view on contra moves
In the first three-and-a-half weeks of trading in the new year, the Bombay Stock Exchange’s Sensitive Index, or the Sensex, has been range bound – a phase that many market experts would call a consolidation phase. And there are expectations that after the Union Budget, the market could enter a correction phase as well.
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Fuel efficiency programme to save Rs 900 crore: CMD

National carrier Air India today said it aimed to save Rs 800-900 crore from its fuel efficiency programme, started in 2008. - AI to spin off engineering operations - AI targets upto Rs 900-cr savings through fuel efficiency program - Govt defers ground handling policy by 1 yr - Ground handling: Pvt airlines get one more year - 2009 brought cheer among consumers seeking their rights - Air India board meets on turnaround plan The airline is currently implementing various initiates to enhance its fuel efficiency in association with the global airlines body, the International Air Transport Association. “We have saved Rs 146 crore on account of the fuel savings programme so far. By the time we get the software (to facilitate better fuel management), we expect Rs 800-900-crore savings,” Air India Chairman and Managing Director, Arvind Jadhav, told reporters here. The programme envisages vital changes in AI’s operational techniques, equipment settings, use of fuel management, flight planning, engine maintenance and cabin weight management. Jadhav said the airline was currently implementing certain fuel efficiency initiatives, which did not require much technology. Once the required software was in place, it would lead to even better fuel efficiency management. “There are several components of the fuel efficiency programme, those we can do immediately and those which can be achieved by procurement of software,” Jadhav said. The national air carrier was also looking at savings from other segments such as hotel and transportation, he said. As part of the cost-savings programme, Air India had also started merging its hotel accommodation and transportation, Jadhav said. “We have also started merging hotel accommodation and transportation as well as foreign and domestic travel as part of the cost-savings programme,” he said.


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