Crompton Greaves to
buy back shares

KOLKATA, 28 JUNE: Crompton Greaves Ltd today said that its board, at its meeting held today, has approved buyback of 10 per cent equity shares from the open market for Rs 265.7 crore. "The board has approved buyback of fully paid equity shares of Rs 2 each of the company from the open market through the stock exchanges at a price not exceeding Rs 125 per share up to an amount of Rs 2657 million, being 10 per cent of the total paid-up equity capital plus free reserves…", the company said in a filing to the Bombay Stock Exchange. The company has also decided to postpone the proposed amalgamation of  CG-ZIV Power Automation Solutions Ltd with the company. sns
NTPC loan pact
KOLKATA, 28 JUNE: State-run NTPC Ltd today said that it has tied up with Germany’s KfW for a fixed-interest rate term loan of euro 95 million to part-finance the capital expenditure on renovation and retrofitting of Flectro Static Precipitators at its various stations. The loan shall be repaid in 16 equal semi annual installments after moratorium of four years, the company said in a filing to the Bombay Stock Exchange. It also has signed a loan agreement with Bank of India for Rs 2,000 crore to finance capital expenditure of generation projects and coal mining activities. sns
Japan expo 
NEW DELHI, 28 JUNE: Indian handicrafts companies that participated in the three-day Giftex World 2013 in Tokyo generated business worth over $3 million. The fair ended today. The executive director of Export Promotion Council For Handicrafts (EPCH), Mr Rakesh Kumar, led a delegation of 20 exporters of Indian handicrafts to participate in the fair. sns