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India designs new atomic reactor for thorium utilisation
India today announced it has designed a new version of Advanced Heavy Water atomic reactor which will use lesser low enriched uranium along with thorium as fuel and having next generation safety requirements.

Back to the USSR: MEA culpa
A minor storm is brewing in Indo-Russian relations over Delhi’s refusal to transfer properties in the name of the Union Soviet and Socialist Republics (USSR) to the name of the Russian Federation, considered worldwide to be the inheritor state of the USSR.

News of the day

Allow retail sale of drug, say domestic pharma players
The central government’s decision to continue controlling supply of the swine flu drug, oseltamivir, will help the drug innovator, Swiss multinational Hoffmann-La Roche, and its Indian licencee, Hetero Drugs, maintain their effective monopoly in the country, even as the drug lacks patent protection in India, fear domestic industry circles.
Small Business

T Rowe acquires 26% in UTI AMC, UTI Trustee

Foreign institutional investor T Rowe Price today said it has completed the acquisition of 26 per cent stake in UTI Asset Management Company and UTI Trustee company for Rs 650 crore. - FIIs net sell Rs 271cr, DIIs net buy Rs 344cr - FIIs net sold Rs 272 crore in F&O on Wednesday - FII-TO-FII TRADES: PNB traded at 6% premium - FIIs net sellers of Rs 362 cr in cash mkt today - FIIs net bought Rs 13 crore in F&O on Monday - FII-TO-FII TRADES: PNB traded at 5% premium "T Rowe Price Group closed today on its previously announced transaction to acquire a 26 per cent stake in UTI Asset Management Company and UTI Trustee Company for Rs 6.5 billion ($142.4 million)," the company said in a statement. Earlier on November 2009, the foreign fund had announced its plans to acquire 6.5 per cent stake from each of the original four stockholders -- State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India -- amounting to 26 per cent in UTI Asset Management Company and UTI Trustee company. Pursuant to the said transaction, State Bank of India, Punjab National Bank, Bank of Baroda, and Life Insurance Corporation of India will retain an 18.5 per cent stake in UTI Asset Management Company. ICICI Securities was the sole adviser to T Rowe Price"s strategic acquisition of UTI Asset Management Company.


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