Business Line articles from July 2008

Business Line archives from July 2008

FRONT PAGE: Automakers draw up strategies to beat high interest regime.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai July 30 - The Indian automobile industry is gearing up for a bumpier ride in the coming months. With a hardening of interest regime round the corner and a debilitating squeeze on availability of...

FRONT PAGE: M&M to drive Kinetic 2-wheeler.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - Ending months of speculations about its entry into the two-wheeler sector, utility vehicles and tractor major Mahindra & Mahindra on Wednesday announced the acquisition of scooter maker...

FRONT PAGE: Philips-Goldman Sachs consortium lone bidder for Railways' CFL project.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - A consortium led by Philips and Goldman Sachs has put in the lone bid for the Indian Railways' tender to replace incandescent lamps in 6.5 lakh Railway households with compact fluorescent...

FRONT PAGE: IOC first quarter profit slides 71% at Rs 415 cr.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - Indian Oil Corporation Ltd's (IOC) continued good performance in the physical business was not enough to better its financial performance, with the company reporting a 71 per cent decline...

FRONT PAGE: PNB to hike PLR, deposit rates from Aug 1.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30On the heels of the Reserve Bank of India announcing its 'dear money' policy on Tuesday, Punjab National Bank (PNB) has decided to raise its benchmark prime lending rate (PLR) by 100 basis...

CORPORATE: Unitech Ltd net profit up 16% in Q1.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - Real estate company Unitech Ltd on Wednesday posted nearly 16 per cent year-on-year rise in consolidated net profit for the first quarter ended June 2008, to Rs 423.31 crore, as an "aged"...

CORPORATE: Lupin acquires Hormosan of Germany.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - Lupin Ltd has acquired Germany's Hormosan Pharma GmbH, a sales and marketing generics company that specialises in supplying Central Nervous System (CNS) medicines, at an undisclosed sum. ...

FRONT PAGE: Tata Motors net slips 30% on input cost rise, forex fluctuations.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai July 30 - Volatility in foreign exchange rates, inflationary pressures and a steep increase in input costs pulled down automobile major Tata Motors' net profit for the quarter ended June 30, 2008 by...

CORPORATE: Marginal rise in Taj-GVK net.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Hyderabad, July 30 - Taj-GVK Hotels and Resorts Ltd has registered a total income of Rs 58.75 crore in the first quarter ended June 2008 as against Rs 56.72 crore in the same quarter last year, showing a...

CORPORATE: Assets sale, the smartest thing to do for Kinetic.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Chennai, July 30 - During the heydays of its joint venture with Honda of Japan, Kinetic had benefited from its strong brand association with scooters and scooterettes. Ever since the venture broke up, it has...

CORPORATE: Kinetic Motor Company: Milestones.
July 31, 2008... from BUSINESS LINE, July 31, 2008 1984: Pune-based Kinetic group enters into a collaboration with Honda Motor Co of Japan and forms Kinetic Honda Motor Ltd, to make gearless scooters 1998: Kinetic acquires majority stake in Kinetic Honda...

CORPORATE: Fortis plans international foray; declares profit for first time.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - After expanding its network to 22 hospitals in the country, Fortis Healthcare Ltd is now looking to foray in international markets. The company is eyeing developing countries in Africa,...

CORPORATE: KS Oils net rises 75%.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Bangalore, July 30 - KS Oils Ltd, a leading integrated edible oil manufacturing and leader in the packaged mustard oils business, reported a 75 per cent increase in its net profit at Rs 41.02 crore during the...

CORPORATE: Forex losses drag down Aurobindo net by 73%.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Hyderabad, July 30 - Aurobindo Pharma Ltd's net profit decreased 73.3 per cent at Rs 16.4 crore in the first quarter ended June 30 compared with Rs 61.7 crore in the corresponding quarter of previous fiscal....

CORPORATE: Vimta Labs net up at Rs 1.60 cr.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Hyderabad, July 30 - Vimta Labs' net profit increased 84 per cent at Rs 1.60 crore in the first quarter ended June 30, 2008 compared with Rs 87 lakh in the corresponding quarter of previous fiscal. This was...

FRONT PAGE: M&M Q1 net down 17%.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - Tractor and utility vehicle major Mahindra and Mahindra reported a 17 per cent fall in the first quarter net profit. According to the company, the fall in profits is mainly on account of...

CORPORATE: ITC net dips on excise duty hike on cigarettes.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Kolkata, July 30 - ITC Ltd reported 4 per cent drop in net profit at Rs 748.67 crore for the quarter ended June 30, 2008, from Rs 782.87 crore during the corresponding quarter of last year. The drop in...

CORPORATE: Tata Chem net drops 52 pc.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - Tata Chemicals has posted a 52 per cent drop in net profit at Rs 59 crore in quarter ended June 30, against Rs 121 crore logged in the same period last year. Total income rose 82 per cent to...

CORPORATE: India Cements sales rise; net down on higher tax, forex losses.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Chennai, July 30 - "Unabated demand for cement," increased blending and higher prices have contributed to India Cements holding on to margins, according to Mr N. Srinivasan, Vice-Chairman and Managing...

CORPORATE: Puravankara consolidated net up 41%.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Bangalore, July 30 - Natural hedging is an important part of our strategy for a good performance, said Mr Ravi Ramu, Director, Puravankara Projects. "This has helped us keep our margins in the face of what...

INFO-TECH: ITC Infotech in talks to buy US firm.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Kolkata, July 30 - ITC Ltd plans to acquire US based information technology firm through its technology subsidiary, ITC Infotech, Mr Y.C. Deveshwar, Chairman of the company, told reporters today after the...

CORPORATE: Madras Cements net up on better efficiencies.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Chennai, July 30 - Higher cost efficiencies and productivity have contributed to a growth in net profits for Madras Cements. According to a press release from the company, Madras Cements has posted a 13 per...

INFO-TECH: BSNL-union talks on IPO deadlocked.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - The deadlock between the Government and the employees union of Bharat Sanchar Nigam Ltd on the proposed Initial Public Offering continued after two rounds of meeting held over the last...

INFO-TECH: Tulip Telecom profit up 61%.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - Enterprise communications service provider Tulip Telecom Ltd on Wednesday reported a 61 per cent increase in its net profit to Rs 45.96 crore for the quarter ended June 30, 2008 against...

INFO-TECH: Hexaware to trim workforce by 5%.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - Hexaware Technologies is likely to end the year with a 4.5 per cent reduction in its workforce. Low utilisation rates coupled with the uncertain economic environment in US is forcing...

INFO-TECH: 3G policy tomorrow.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - The much awaited policy on third generation mobile services will be announced by the Communications Ministry on Friday. The Ministry is also expected to announce the policy for broadband...

MARKETING: Jagran Prakashan Q1 net declines.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - Media company Jagran Prakashan's profits during the first quarter were down 8.82 per cent to Rs 31.65 crore compared to the corresponding quarter the previous year. Net sales up Net...

MARKETING: Jyothy Laboratories enters laundry services biz.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - Jyothy Laboratories is making a foray into laundry services with an initial investment of Rs 40 crore. A new subsidiary company, Jyothy Fabricare Services (JFSL), has been floated to create...

MARKETING: Warner, BIG Music ink deal.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - BIG Music & Home Entertainment has announced the company's appointment by Warner Home Video as its exclusive home video licensee for India, Sri Lanka and Bangladesh. BIG Music & Home...

MARKETING: CavinKare forays into South Indian snacks segment.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Chennai, July 30 - Shampoos to foods company CavinKare Pvt Ltd is all set to launch a range of traditional South Indian snacks. To start with, it will introduce mixture, murukku (in variants including...

MARKETING: Phoenix Group plans Rs 2,000-cr expansion.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Chennai, July 30 - Phoenix Group, a Rs 1,500-crore conglomerate with varied business interests including hotels, real estate and floriculture, has drawn up expansion plans involving an investment of up to Rs...

BANKING/FINANCE: Bond prices up.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - Bond prices gained on Wednesday, after Tuesday's sharp fall, due to value-buying, low oil prices and slight easing in liquidity conditions. The market has also factored in inflation at 12...

BANKING/FINANCE: Axis Bank hikes PLR by 50 bps.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - Banks have started hiking lending rates, following the 50- basis point hike in repo and 25-basis point hike in CRR by the Reserve Bank of India. Among the first to hike lending rates was...

BANKING/FINANCE: Fee income beefs up banks' Q1 bottomline.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - Strong growth in fee income in the first quarter has helped many banks show higher profits and offset the pressure on margins. The trend could continue this fiscal as well, given the...

BANKING/FINANCE: Small businesses lift City Union Bank's profit.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Chennai, July 30 - City Union Bank has reported a 23 per cent growth in its net profit for the April-June quarter of the current year, despite a provision of Rs 4 crore for ESOP. The bank made a net profit of...

BANKING/FINANCE: PNB's net rises 21% in Q1.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - Punjab National Bank has reported a 20.6 per cent increase in net profit in the first quarter of the current fiscal to Rs 512.40 crore (Rs 425.07 crore). Total income of the bank for the...

BANKING/FINANCE: Rupee gains against dollar.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - The rupee gained against the dollar on Wednesday tracking the upswing in the domestic stock market and the ease in oil prices. The domestic currency opened at 42.52/53 and touched an...

BANKING/FINANCE: Rupee near key resistance.
July 31, 2008... from BUSINESS LINE, July 31, 2008 The steep climb in the rupee caused by the sell-off in crude prices and the victory of the UPA government in the no-trust vote was arrested at 41.7 against the dollar. Terror attacks in two Indian cities and...

BANKING/FINANCE: Banks repricing term loans as margin shrink.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Bangalore, July 30 - Faced with mounting margin pressures, banks have now begun repricing some of the term loans on their books. Top bankers said the repricing would include some of the term advances made in...

BANKING/FINANCE: Call rates end higher.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - Call rates closed higher at 8.80-8.90 per cent, against the previous close of 8.70-8.80 per cent. In the one-day repo auction under the liquidity adjustment facility, the RBI received and...

BANKING/FINANCE: DCB net down 5% in Q1 on provisioning.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mangalore, July 30 - The private sector Development Credit Bank (DCB) recorded a net profit of Rs 5.44 crore in the first quarter of 2008-09 against Rs 5.74 crore in the corresponding period of the previous...

BANKING/FINANCE: LIC launches policy for women.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - LIC has launched an insurance policy designed exclusively for women called Jeevan Bharati-I. The policy is essentially a money back policy with a term of 15 or 20 years. Besides critical...

OPINION: Doha ambushed.
July 31, 2008... from BUSINESS LINE, July 31, 2008 The collapse of the mini-Ministerial WTO meeting in Geneva after nine days of intense negotiations only confirms that the spirit of development co- operation in the international community is not what it...

OPINION: Provident Fund.
July 31, 2008... from BUSINESS LINE, July 31, 2008 This is with reference to the decision taken by the Employees Provident Fund Organisation (EPFO) selecting three private fund managers, along with India's largest commercial bank SBI, to manage its corpus of...

OPINION: Rate hike.
July 31, 2008... from BUSINESS LINE, July 31, 2008 The Credit Policy announced by the RBI has belied the hopes of people. The upward revision of the CRR and Repo rates is sure to result in the banks raising lending rates further which will put borrowers in...

OPINION: Development on autopilot.
July 31, 2008... from BUSINESS LINE, July 31, 2008 All of us want development in terms of economic growth, effective governance and full employment. All Governments, irrespective of their ideology, try to achieve these objectives, or at least declare so....

OPINION: Nuclear deal in choppy waters?
July 31, 2008... from BUSINESS LINE, July 31, 2008 There is cloud over the expectation that with the Government's successful squelching of the Left's opposition through the confidence vote in the Lok Sabha and completion of the negotiation on the safeguards...

ACCOUNTANCY: Making businesses lean.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Whether India dethrones China as the world's fastest growing economy will not be dependent on the young workforce but the managers. In order to change, any organisation needs a sense of crisis (or of...

ACCOUNTANCY: Delay and dispute in M&A deals.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mergers and acquisitions (M&As) are slowly turning out to be painfully long, and most of the times burdened with disputes in one form or the other. Let's first take a local example: After negotiations...

NEWS: Biz quiz for corporates begins on Aug 3.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Coimbatore, July 30 - The fifth edition of the business quiz for corporates - 'Tata Crucible - The Business Quiz 2008' is expected to begin here on August 3. The business quiz is being held across 16...

CORPORATE: Firestone TVS opens air spring unit.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Copyright 2008 Business Line

LOGISTICS: Global majors keenon Railways loco unit.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - Indian Railways has received five bids for its proposed electric locomotive factory to be set up in Madhepura, Bihar. The companies are - Alstom; Bombardier; Siemens; a consortium...

NEWS: Students catch eye of travel agents, airlines.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - Students travelling abroad for studies are fast catching the interest of airlines and tour operators alike. Extra baggage allowance, discounted fares, commission waiver on foreign...

NEWS: IOC restricts new LPG connections.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - IOC has restricted new domestic LPG connections for consumers. "We have not bought new cylinders for this year due to cash crunch and so we do not have equipment to give new...

NEWS: Over a million e-returns filed so far.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - Over a million e-returns have been filed with the income-tax department up to July 29 this year. The Central Board of Direct Taxes (CBDT) expects the number of e-returns to cross...

CORPORATE: RCF Q1 net triples on better sales.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Mumbai, July 30 - Rashtriya Chemicals and Fertilisers Ltd has nearly tripled its net profit to Rs 19 crore for the quarter ended June 30, from Rs 7 crore for the same period last year. Net sales for the...

CORPORATE: Mundra Port & SEZ net zooms.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Ahmedabad, July 30 - Favourable market conditions and increased movement of goods and services saw Mundra Port and SEZ Ltd record 397 per cent increase in net profit as its revenues increased by 118 per cent...

CORPORATE: V Guard Q1 net profit rises 12%.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Kochi, July 30 - The net profit of V Guard Industries Ltd has grown by 11.9 per cent to Rs 5.7 crore (Rs 5.09 crore) for the first quarter of the current fiscal. The profit before tax was up 9 per cent at Rs...

CORPORATE: Torrent Pharma's Q1 profit up 84%.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Ahmedabad, July 30 - Ahmedabad-based pharma major, Torrent Pharmaceuticals Ltd, reported a jump of 84 per cent in its consolidated net profit for the quarter ended June 2008 at Rs 49 crore (Rs 27 crore). ...

CORPORATE: ABB bags Rs 455-cr Vedanta order.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Bangalore, July 30 - ABB India has bagged an order worth Rs 455 crore for power, automation systems from Vedanta Aluminium Ltd for the expansion of their aluminium smelter plant at Jharsuguda in Orissa. ...

CORPORATE: Marginal rise in Gokaldas net.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Bangalore, July 30 - Gokaldas Exports reported a modest increase by five per cent in its net profit at Rs 11.05 crore for the first quarter of the current fiscal against Rs 10.52 crore for the corresponding...

NEWS: Two-wheeler companies watching monsoon closely.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - After wrestling with subsequent rounds of interest rate hikes, reduced lending by banks on two-wheeler loans and soaring steel prices, motorcycle companies like Hero Honda, Bajaj and TVS...

NEWS: Crisil ranking of EPFO fund managers not reflected in final selection.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - The best asset management companies in terms of qualitative rankings made by Crisil to the Employees Provident Fund Organisation (EPFO) have not found their place among the selected four...

AGRI-BUSINESS: Spot rubber flares up.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Kottayam, July 30 - Rubber prices continued their upward journey to create yet another recordat closing on Wednesday. RSS 4 flared up to Rs 139 a kg from Rs 137 a kg as covering groups turned extremely...

CORPORATE: GMR Infra net dips 41% despite higher income.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Bangalore, July 30 - Even as its total income grew 76.88 per cent to Rs 994.77 crore during the first quarter of the current fiscal, GMR Infrastructure Ltd's (GIL) net profit for the period saw a steep...

CORPORATE: IVRCL group turnover up at Rs 1,065 cr.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Hyderabad, July 30 - The IVRCL group achieved a turnover of Rs 1,065 crore in the first quarter ended June 2008 as against Rs 766 crore in the same quarter last year, registering a growth of 39 per cent, Mr...

NEWS: Berger Paints Q1 sales up 25 %.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Kolkata, July 30 - Berger Paints has reported a 25 per cent growth in sales at Rs 378 crore and 16.5 per cent in PAT at Rs 23.17 crore during the first quarter to June 30, 2008, despite "spiralling material...

NEWS: Kolkata tops in 'ethics at workplace' survey.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Pune, July 30 - Nearly 45 per cent people in the corporate workforce in eight Indian cities don't bat an eyelid while logging incorrect entry/exit times, 46.8 per cent feel using the office telephone for...

NEWS: Dalmia Group to launch Leonardo Gold.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Ahmedabad, July 30 - Diversified group Dalmia Continental Pvt Ltd held a preview of Leonardo Gold, an extra virgin olive oil to be launched soon. "The gourmet extra virgin olive oil is intended for the most...

AGRI-BUSINESS: Plea to remove cap on Lankan pepper imports.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Kochi, July 30 - Pepper exporters in Sri Lanka have urged the Indian Government to remove the cap it placed in December 2006 restricting exports of pepper under the Indo-Sri Lanka Free Trade Agreement (ISFTA)...

CORPORATE: CESC signs pact with Bihar Govt for 2,000 MW power plant.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Kolkata, July 30 - CESC Ltd has entered into a memorandum of understanding with the Government of Bihar to set up a 2,000-MW power plant in the State's Bhagalpur district at an investment of Rs 10,000 crore,...

NEWS: Open sale policy for wheat to be unveiled soon.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - The Centre will soon finalise a policy for open market sale of wheat from its stocks. "The Committee of Secretaries (CoS) is working out the details of a policy for market...

NEWS: GHCL net up 20% at Rs 38 cr.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Ahmedabad, July 30 - Gujarat Heavy Chemicals Ltd (GHCL) has reported a net profit of Rs 38 crore (Rs 31.55 crore) up 20 per cent for the quarter ended June 30. Income from operations for the period was at Rs...

NEWS: MIC Electronics net, turnover up.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Hyderabad, July 30 - MIC Electronics Ltd has logged a net profit of Rs 72 crore for the financial year ending June 30, 2008, a growth of over 100 per cent against the Rs 34-crore achieved in the previous...

CORPORATE: Panna-Mukta fields to resume full production soon.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Kolkata, July 30 - Panna-Mukta-Tapti joint venture of Reliance, British Gas and Oil and Natural Gas Ltd expects to resume full production from Panna- Mukta fields in the first week of August. On June 5 a...

CORPORATE: Escorts posts Rs 9.3-cr net on high sales.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - Higher sales has led tractors and farm equipment company Escorts record a net profit of Rs 9.3 crore for the quarter ended June 30, 2008, against a loss of Rs 6.2 crore in the...

CORPORATE: Royal Orchid net up 9% at Rs 6.76 cr.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Bangalore, July 30 - Despite a marginal setback in occupancies, which has been the case across the hospitality sector, Royal Orchid Hotels Ltd has, on a consolidated basis, posted a 35 per cent increase in...

CORPORATE: Omaxe's Q1 net dips 23% on high input costs.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - The Delhi-based real estate company Omaxe Ltd has posted nearly 23 per cent drop in its net profit for the first quarter ended June 2008 to Rs 56.6 crore, as rising input costs and higher...

CORPORATE: JK Lakshmi Cement PAT at Rs 38 cr.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - JK Lakshmi Cement has reported gross sales of Rs 314.57 crore for the first quarter of the current fiscal as against Rs 311.52 crore in the same quarter last year. The operating profit...

CORPORATE: Indraprastha Gas has new MD.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - Mr Rajesh Vedvyas has taken over as Managing Director of Indraprastha Gas Ltd (IGL), the sole supplier of compressed natural gas (CNG) and piped natural gas (PNG) in the capital....

CORPORATE: Orient Paper shows marginal rise in profit.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - Orient Paper and Industries, a Birla group company, has reported a marginal rise in its net profit at Rs 46.11 crore for the quarter ended June 30, 2008 as against Rs 44.6 crore the...

CORPORATE: Punj Lloyd net up 88% on higher orders.
July 31, 2008... from BUSINESS LINE, July 31, 2008 New Delhi, July 30 - Buoyed by higher orders, Punj Lloyd Ltd on Tuesday announced an 88 per cent jump in consolidated net profit for the first quarter of the current fiscal at Rs 112 crore, up from Rs 59.5...

CORPORATE: VISA Steel net zooms to Rs 48 cr.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Kolkata, July 30 - VISA Steel Ltd has posted a net profit of Rs 48.51 crore during the first quarter of 2008-09. This marks a growth of 846 per cent over the net profit of Rs 5.13 crore during the...

CORPORATE: McLeod hopes to become debt-free soon.
July 31, 2008... from BUSINESS LINE, July 31, 2008 Kolkata, July 30 - McLeod Russel India Ltd hopes to become a debt-free company within the next two years, according to Mr Aditya Khaitan, Managing Director of the company. Speaking to newspersons after...