NMDC touched an intraday high of Rs 392.60 and an intraday low of Rs 374. At 1:20 pm, the share was quoting at Rs 382.65, up Rs 25.70, or 7.20%. Govenment is going to divest stake in Kudremukh Iron Ore, Manganese Ore, NMDC. NMDC sale may fetch between Rs 10,351 crore-Rs 24,704 crore. NMDC is listed with 1.62% market float and rest stake is with Government of India. It may divested between 8.38%-20%, reports CNBC-TV18. (Money Control)   more »

Maytas Infrastructure the Hyderabad based infrastructure company promoted by the Raju family, may be looking for a buyer. NDTV has learnt that the board of directors has expressed concerned on the state of affairs at Maytas Infrastructure and made the suggestion for the company to be sold in its report submitted to the Ministry of Corporate Affairs. The communication from the board to the ministry also cites the example of the successful turnaround of Satyam after it was sold off to its new owner, Tech Mahindra. Sources said that the government is open to the idea of selling off the company, "if it helps in the long run. NDTV contacted two senior officials of the company who confirmed the move. One of the officials, a member of the Maytas board, said, "The options are open". He did not elaborate further.   more »

Global venture capital firm Canaan Partners is betting big on India. Reali-sing that India is expected to grow in excess of 6 per cent annually, the VC firm would be investing as much as 25 per cent of its entire corpus in India, compared with less than 10 per cent till a few years back. The total corpus for the company at the beginning of 2008 was $650 million, and a third of it has already been invested around the globe. “India is a very imp-ortant market for us. There are many successful entre-preneurs brimming with bright ideas here.   more »