Indiabulls to develop 2,500-acre SEZ near Nashik

Nashik, Feb 6 (PTI) Diversified entity Indiabulls Group will develop a Special Economic Zone (SEZ) at Sinnar near Nashik in association with the Maharashtra Industrial Development Corporation.

The SEZ, which is to be located in the industrial corridor of Nashik, Sinnar and Igatpuri, will be spread over 2,500 acres, Kishore Gajabhiye of Indiabulls, who is heading the project, told reporters here last evening.

The multi-product enclave will have units related to auto components, medicine production, food, engineering and IT among others. It will also house an international trading centre, hotels, schools, entertainment park and hospital, he said.

The company, however, did not give the estimated investment or timeframe of the project. This will be Indiabulls' third SEZ after Mumbai and Pune.

The group's proposed 1,335 MW Thermal Power Project in Sinnar is likely to see investments of Rs 25,000 crore and create thousands of jobs, Gajabhiye said.

Markets breathe easy on US cues

STAFF WRITER 13:56 HRS IST

Mumbai, Feb 6(PTI) After two days of mayhem, the markets got a reprieve today on a special 90-minute session with the benchmark Sensex gaining 125 points on all-round buying driven by positive cues from the Wall Street overnight.

The Bombay Stock Exchange benchmark Sensex resumed higher by 142 points and touched an intraday high of 15,951.07 points before ending at 15,915.65, a net rise of 124.72 points or 0.79 per cent from its last close, when it crashed by 434 points on global cues.

Significantly, all the sectoral indices ended in the green, with the worst hit sectors in the past two sessions-- realty, metals, oil & gas and IT counters-- leading the rally.

The National Stock Exchange's 50-share Nifty also shot up by 38.60 points or 0.82 per cent to finish at 4,757.25 from its previous close, after opening over 42 points.

Shiv Sena burns effigies of Aamir, Shahrukh

The Shiv Sena has gone a step further after criticising Bollywood superstars Aamir Khan and Shahrukh Khan for supporting the inclusion of Pakistani cricketers in IPL. The police said that Shiv Sena workers have exposed their wrath against the actors by burning their effigies and toring their films posters at Regal Square in Mumbai.

Buzz up!
However, no arrest has been made in spite of the violent protest by the Shiv Sena. The party has also sent out a strong warning to the theatres in the city not to screen Shahrukh’s film My Name is Khan.

Siemens aims to raise market share in India to 10%

FRANKFURT (MarketWatch) -- Siemens AG /quotes/comstock/11e!fsie (DE:SIE 65.61, -0.47, -0.71%) , the German electronics and electrical-engineering conglomerate, said Tuesday it will invest more than 250 million euros ($348 million) in India over the next three fiscal years through 2012, thereby doubling its current annual investments. A major part of the money will be invested in renewable energy and value-priced products business, Siemens said. The company wants to increase its market share in India to 10% by 2012. Siemens said it has recently signed orders totaling over 500 million euros, primarily for energy technology. "Like many other nations around the globe, India is facing a green revolution. We have the products and solutions for the country and we want to further expand our position as a green infrastructure provider in India," said Peter Loescher, president and CEO of Siemens AG.