Cabinet approves Draft land acquisition bill; industry feels jitters Jairam Ramesh says -Draft land bill to be placed in current parliament session -Suggestions will be taken on board by parliament standing committee -There was no change on the bar on irrigated land -Once defined, public purpose will not be changed
CREDAI says -Happy that transparency will come in land acquisition -Unhappy that affordable housing not under bill -R&R clause will lead to 50% increase in market costs
CII says -Total cost involved could turn out to be a negative -Bill has gone overboard on costs of rehabilitation
Other stocks and sectors that are in news today: -RIL in focus: CAG report on hydrocarbons is expected to be tabled today -Pipavav Shipyard to consider issue of convertible warrants -DoT to seek corporate affair's ministry's view on the five-year old deal between Tata Group and Idea (ET) -TCS puts in USD 500 million bid to acquire a controlling stake in the IT systems of Lufthansa (ET) -Dunlop plans to sell of its property in Mumbai for around Rs 300-350 crore (BS) -Neyveli Lignite plans to invest Rs 40,200 crore to build power plants in Tamilnadu, Rajasthan and Uttar Pradesh (BS) -JSW Steel likely to clear land hurdle for its proposed 3mt integrated steel plant in WB (BL) -Hero Group to set up a Rs 650 crore hotel in Gurgaon -Hotel Leela board meet on September 7 to consider hiving off co's Kovalam Hotel -Gujarat Natural Resources board approves GDR issue of up to Rs 250 crore -UltraTech Cement August cement production up 2.3% at 3.02 mt (YoY) -Ashok Leyland August total sales at 7218 versus 7480 YoY -Axis IT&T to consider & finalise the merger of its various group entities -Nelcast: Stock Split from Rs 10/sh to Rs 2/sh -F&O Ban: ABG Shipyard, Gitanjali Gems -Ex Dividend: Container Corp of India Rs 8/sh, Grasim Rs 20/sh -2G case update: Unitech's Sanjay Chandra's bail plea adjourned to September 6
