The finance ministry has approved the Rajiv Gandhi Equity Savings Scheme, in which investment up to Rs 50,000 in approved stocks and mutual funds would be eligible for 50 per cent of the amount as tax deduction.

The Rajiv Gandhi Equity Savings scheme, which was announced in budget in March, would provide a 50 per cent tax deduction on investments up to Rs 50,000 to investors whose annual taxable income is below Rs 10 lakh.

Employees of Nalco at the Navratna company's smelter plant at Angul, mining site and refinery plant at Damanjodi staged dharna protesting the Centre's decision to sale some stake of the central public sector undertaking.

The Rashtriya Ispat Nigam Ltd (RINL) will be the first PSU to tap the capital market this fiscal. The government is aiming to mop up Rs 2,500 crore by divesting its stake in the company.

Himgange's hair oils are holding their own against competing products from heavyweights Emami and Marico.

For the year ended March 31, 2012, the company posted a net profit of Rs 258.81 crore, compared to Rs 228.71 crore in 2010-11.

The IPO is expected to fetch Rs 2,500 crore to the exchequer at RINL's current valuations. Last week, the company increased its production capacity to 6.3 million tonnes per year at an investment of Rs 12,500 crore.

Like the gems, or ratnas, of ancient courts, the five Maharatna companies, owned by the government, are leaders in their space. They can be good investment options.

\"The timing will have to be seen, depending on market conditions. If markets are where they are today, certainly we can ask the Disinvestment Department to defer it,\" Praful Patel said.

BHEL has set a target of reaching the networth of Rs 23,755 crore in 2011-12, according to the MoU it has signed with the Ministry of Heavy Industries and Public Enterprises.

The net sales of the company for the year also increased to Rs 50,233 crore for the year ended March 31, a rise of 12.59 per cent compared to Rs 44,615 crore in 2009-10.

Total Income has increased to Rs 5,498 crore for the year ended March 31, from Rs 4,593.44 crore for the year ended March 31, 2010.

The price band at Rs 193-203 per share has been fixed for the issue. The firm is offering a discount of 5 per cent in the issue price to retail bidders and eligible employees.

Coal India rose over 3 per cent on Wednesday amid media reports that the company has received proposals from several companies to get imported coal at discounted prices.

Along with CIL, Neyveli Lignite Ltd has also been awarded Navratna status and Pawan Hans Helicopters has received a Mini-ratna tag.

A PSU with Maharatna status can invest up to Rs 5,000 crore in a project independently, while the limit for Navratna companies is Rs 1,000 crore.

Apart from Peabody, the company is also negotiating with US firm Massey Energy and Indonesian Novem/Sinarma, for a possible partnership for their respective mines.

The state-owned navratna company posted a net of Rs 4,020 crore for the April-September period, up 29 per cent from the Rs 3,115 crore it reported in the year-ago period.

The issue attracted bids for 129.35 crore shares, against 63.1 crore equities on offer, according to the data available on the National Stock Exchange.

The public offerings of navratna companies Steel Authority of India, Indian Oil Corporation and Oil and Natural Gas Corporation will hit Dalal Street early next year.