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The ministry has watered down the 11 preconditions it had in January proposed for giving Vedanta nod to buy a 51 per cent stake from UK's Cairn Energy, officials with direct knowledge of the matter said.

Making Rio Tinto's efforts to buy out Riversdale tougher, Tata Steel has increased stake in the Australian mining firm by 2.93 per cent to 27.14 per cent.
Coal Minister Sriprakash Jaiswal announced that Coal India will set up 20 new washeries to  help realise a better price for its produce.
Petrol and diesel prices look set to be hiked after Finance Minister Pranab Mukherjee ignored calls for its reduction in customs and excise duty.
Total income of the company rose to Rs 355.13 crore in the October-December quarter from Rs 179.16 crore in the corresponding period last fiscal.