National Thermal is doing a balancing act with its debt and getting the right mix in its borrowings at home and overseas. Given its size, the company is tapping the resources available to it, be it local or external.

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The series of such investment decisions reflects how fast India's technology industry is maturing.

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Reliance Communication is among the largest players and there is definitely space for at least three big players in the booming mobile-phone industry. The listing will certainly give us more choice.

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