Business Line articles from July 2011

Business Line archives from July 2011

10 southern ports export 12.57-cr tonne iron ore from Karnataka.
July 31, 2011... Byline: Our Bureau Karnataka origin mineral wealth (iron ore) totalling 12.57 crore tonnes was exported from 10 ports located in the southern States from 2006-07 till 2010, said Karnataka Lokayukta in its report. Out of this, export of...

Idea Cellular (Rs 94.3).
July 31, 2011... Idea Cellular has been on medium-term uptrend from its 52-week low of Rs 55 recorded in late February. The stock's uptrend got accelerated on July 22 after it penetrated its key resistance at Rs 80. The upward momentum has continued since, and...

Fiscal sops can help drive green initiative.
July 31, 2011... Byline: R. Yegya Narayanan There is a conscious attempt to tap every renewable energy source, with growing awareness of the need to preserve the environment and bring down electricity consumption cost. With builders of large residential...

Lanco Infra sets up HR academy.
July 31, 2011... Byline: Our Bureau Infrastructure company Lanco Infratech Ltd (LITL) on Saturday launched the Lanco Academy, its first leadership development institute for its employees. The Union Power Minister, Mr Sushil Kumar Shinde, inaugurated Lanco...

India 2nd fastest growing market for domestic air travel.
July 31, 2011... Byline: Our Bureau Domestic tariff grows 14% in June India's domestic air traffic grew at the second highest rate after Brazil, according to global figures for June compiled by the International Air Transport Association. The country's...

Grasim Q1 net jumps 31% as VSF, cement biz do well.
July 31, 2011... Byline: Our Bureau Grasim Industries, an Aditya Birla Group company, has reported an improved performance in the June quarterly, largely due to better realisations from the viscose staple fibre (VSF) and cement business. Though VSF prices...

Will gold continue to dazzle?
July 31, 2011... Byline: Lokeshwarri S.K. The strife over the US debt ceiling and concern about the health of European economies has sent the dollar reeling against most currencies. This wave of risk aversion has however been favourable to gold and the yellow...

Free FSI scrapped in Mumbai; developers hit.
July 31, 2011... Byline: S. Shanker & In what is considered a blow to real estate developers, the Maharashtra Government in a notification said that spaces such as flower beds, lily ponds, parking decks and terraces would qualify for a levy of 100 per...

Corporation Bank hikes base rate.
July 31, 2011... Byline: Our Bureau Corporation Bank has increased its base rate by 40 basis points and prime lending rate (PLR) by 50 basis points with effect from August 1. The bank informed the BSE on Saturday that the base rate for lending has been...

BJP-Shiv Sena alliance calls off Monday's Mumbai bandh.
July 31, 2011... Byline: Our Bureau State agrees to housing demand for textile workers Monday's Mumbai bandh has been called off by the Opposition parties and trade unions, as Maharashtra Government has accepted the three main demands with regard to...

Midfield lines up Rs 50-cr expansion.
July 31, 2011... Byline: Amit Mitra Steel-strapping and packaging tools maker Midfield Industries has lined up a Rs 50 crore expansion programme, including setting up of a new manufacturing facility in Rourkela and another one in Jebel Ali in the United Arab...

Drifting towards critical support.
July 31, 2011... Byline: LOKESHWARRI S.K. Sensex (18,197.2) Sensex' promenade around 18,500 was brought to an abrupt end by the RBI's aggressive policy rate hike on Tuesday. Stocks fell pell-mell following this move yanking the Sensex 353 points lower in...

Sparkle is in brands.
July 31, 2011... Byline: Bhavana Acharya The stock of Titan Industries has charted a steady journey upward, undeterred by market gyrations. The company's marketing push, its focus on diamond jewellery paying off, and the purchasing power of the Indian...

EicherAMotors net up 38% on better truck sales.
July 31, 2011... Byline: Our Bureau Eicher MotorsAreported a 38.29 per cent jump in its consolidated profit at Rs 76.31 crore for the quarter ended June 30Aon account of good sales. In the April-June period, the company sold 1,654 units of heavy commercial...

Mamata announces slew of sops for minorities.
July 31, 2011... Byline: Our Bureau To provide housing facilities, employment bank The West Bengal Chief Minister, Ms Mamata Banerjee, on Saturday announced a host of sops for minorities in the State. The sops include a new housing policy, an employment...

IIFL consolidated net down 36.6%.
July 31, 2011... Byline: Our Bureau Broking firm IIFL's consolidated net profit for the quarter ended the June quarter fell 36.6 per cent to Rs 27.31 crore from Rs 43.14 crore in the same year-ago period. The total income earned by the company increased by...

Consider shorting Reliance Industries.
July 31, 2011... Byline: K.S. Badri Narayanan Reliance Industries: The outlook for Reliance Industries seemed to be negative as it ended below the crucial support level last week. The stock now finds immediate resistance at Rs 1,047 and only a conclusive...

Potential in pipeline.
July 31, 2011... Byline: Anand Kalyanaraman Investors with a long-term perspective can consider investing in GAIL (India), the country's dominant gas transporter. At its current price of Rs 461, the GAIL stock discounts its trailing 12-month earnings by...

Punjab & Sind Bank seeks Rs 990 cr from Centre.
July 31, 2011... Byline: K. R. Srivats Punjab & Sind Bank (PSB) has sought capital support of Rs 990 crore from the Central Government to fund business growth, a top official of the bank has said. "It will be pure equity. We have made a request to the...

Policy inaction could slow infra projects: Srei chief.
July 31, 2011... Byline: Our Bureau Company posts 17% growth in Q1 profit on higher disbursements Policy inaction on the part of the Government may hurt infrastructure projects in the country, according to Mr Hemant Kanoria, Chairman and Managing Director,...

Power Finance Q1 net up 5%.
July 31, 2011... Byline: Our Bureau With increasing pressure on spreads due to rising interest rates, Power Finance Corporation (PFC) has reported a 5 per cent increase in quarterly profit. During the first quarter of the current fiscal, the net profit of the...

Buying insurance? Look beyond the portals.
July 31, 2011... Byline: Suresh Parthasarathy Buying insurance, whether through an agent or on the Web, is not as easy as effecting other financial transactions. With 24 life insurance companies and a host of products, it can be quite a task to compare...

Raking in profits.(Financial report)
July 31, 2011... Byline: Srividhya Sivakumar Better-than-expected first quarter performance, improving profitability of its container rail business and ongoing capacity expansion of its CFSs (container freight stations) strengthen the prospects for Gateway...

Sona College of Technology- Salem.
July 31, 2011... Sona Group is one of the fastest growing technical institutions in India and Sona College of technology is an autonomous institution affiliated of AnnaUniversity. Located on a sprawling complex of 34.50 acres with a built-up area of over 10.5...

Allahabad Bank, UCO Bank raise lending rates.
July 31, 2011... Byline: Our Bureau Allahabad Bank and UCO Bank have both hiked their lending rates by 50 basis points. The revised rates would come into effect from August 1, according to banks' press statements. Post revision, the base rate of both banks...

Palm oil may test support, rebound.
July 31, 2011... Byline: Gnanasekar .T Malaysian crude palm oil futures on Bursa Malaysia Derivatives exchange ended lower on Friday on demand concerns. Worries about the US debt crisis and improving weather in oilseed-growing areas in the US pressured prices...

Money Alerts.
July 31, 2011... Byline: BL RESEARCH BUREAU A display of cheque dishonour Ever seen your cheque being dishonoured? Well, you may no longer have to speculate on the whys! The Reserve Bank of India has directed banks to clearly mention the reason for...

markets in a minute.
July 31, 2011... Byline: ADARSH GOPALAKRISHNAN Yet another RBI rate hike, quarterly results yielding a mixed bag , continued posturing in the US over raising the debt ceiling and global investors wait with bated breath over the direction of the Chinese...

Sri Ramakrishna Engineering College - Coimbatore.
July 31, 2011... Sri Ramakrishna Engineering College, was established in the year 1994 at Vattamalaipalayam, Coimbatore District, Tamil Nadu State, India by SNR Sons Charitable Trust. This Trust runs 16 other reputed Educational and Medical Institutions in...

E-payment to be mandatory if Customs duty exceeds Rs 1 lakh.
July 31, 2011... Byline: Our Bureau E-payment of Customs duty for importers paying Rs 1 lakh or more has been made mandatory by the Central Board of Excise and Custom (CBEC). The date from which e-payment will be mandatory will be notified soon by the...

Prestige Estates net grows 46%.
July 31, 2011... Byline: -- Our Bureau Realty developer Prestige Estates Projects reported 46 per cent growth in net profit to Rs 36.4 crore for the quarter ended June 30, compared to Rs 24.92 crore in the year-ago period, despite a 4 per cent dip in net...

Spot rubber rules steady.
July 31, 2011... Byline: Aravindan Spot rubber continued to rule unchanged on Saturday. The weekend session was rather inactive as the domestic futures finished weak on the National Multi Commodity Exchange (NMCE). The August series weakened to Rs 207.40...

Getting more from your savings account.
July 31, 2011... Byline: Parvatha Vardhini C From a basic no-frills account to a pampered premium account and smart deposit linked accounts, savings bank accounts come in different packages to suit every possible need. A careful look at the various options...

The importance of 'other income'.
July 31, 2011... Byline: BL RESEARCH BUREAU Had you paid close attention to results over the past few weeks, you would have caught more than a passing mention of 'other income' boosting earnings. 'Other Income' appears in the Profit & Loss account after...

SAIL - Salem Steel Plant.
July 31, 2011... The long cherished dream of Salem Steel Plant came to fruition when the first cast of liquid stainless steel was taken through the new steel melting facilities in September 2010. Under the Rs.1900 crores expansion project, installation of steel...

Grasim Q1 net rises 31% as VSF, cement biz do well.
July 31, 2011... Byline: Our Bureau Grasim Industries, an Aditya Birla Group company, has reported a 31 per cent jump in net profit at Rs 752 crore in the June quarter, largely due to better realisations from the viscose staple fibre (VSF) and cement...

Gujarat Narmada's Q1 net, sales surge.(Financial report)
July 31, 2011... Byline: Our Bureau State-promoted Gujarat Narmada Valley Fertilizers Company Ltd on Saturday reported an 86 per cent increase in profit after tax (PAT) and 75 per cent increase in sales in the first quarter of 2011-12, ended June 30, compared...

When freedom and well-being collide.
July 31, 2011... Byline: D. MURALI Often it can be extremely simple to make the choice whether to have goodies now or later. When the amount of gratification is equal across time periods, the choice is usually easy, writes Peter A. Ubel in Free Market...

New bank details.
July 31, 2011... We sometimes hear an investor say, "I have changed my bank account and did not inform the mutual fund. I have received a dividend cheque with the old bank details printed therein. Please resend the cheque with the new bank details." Credit to...

'Take diversion' - invest in commodities too.(Interview)
July 31, 2011... Byline: Rajalakshmi Sivam Commodities have emerged as an alternative investment option today and make for a good tool to hedge against the spiralling inflation. The lure for commodities, however, isn't just limited to precious metals. It is...

University education has become crucial in creating skilled, intellectual human force.
July 31, 2011... Higher education and research act as essential components of culture, socio-economic and environmentally sustainable development of individuals, communities and nations. In this backdrop, University education has become crucial in preparing a...

Profiting from 'other income'.
July 31, 2011... Byline: Preeti Mehra & Anil Sasi BHEL, Reliance Ind, Maruti, among those that benefit Amid the rising interest rate and input price squeeze, there is a silver lining for India Inc. The first quarter results bear this out, with...

Hinduja Global exits insurance business.
July 31, 2011... Byline: Adith Charlie Hinduja Global Solutions (HGS), the back-office arm of the Hinduja group, has exited from the insurance business in India after regulatory changes impacted its revenues. Speaking to Business Line, Mr Patha De Sarkar,...

The inflation war begins.
July 31, 2011... Byline: VIDYA BALA The RBI's unexpected 50 basis-point hike in repo rate to 8 per cent shocked the markets. But, then, the central bank may not have had any other option to counter inflation; the 10 rate hikes till June and two bumper crops...

Fund Talk.
July 31, 2011... Byline: K. Venkata- I am a 77-year old retired executive, having major investments in equity shares and some mutual funds. I would like your advice to restructure my portfolio of funds to maximise dividend returns, preferably with capital...

'Do your own thing when investing'.
July 31, 2011... Byline: BL RESEARCH BUREAU This week we bring 'money mantra' from Dr Suresh Surana, a chartered accountant who specialises in International Taxation and Corporate Advisory. He is the founder of RSM Astute Group, a leading accounting and...

India Inc prefers bank FDs on rising interest rate, business uncertainty.
July 31, 2011... Byline: Srividhya Sivakumar Deposits by companies grew 40% in FY11 against 15% in FY10 Uncertainties in the business environment and attractive interest rates from banks are making Indian Inc mimic the retail investor and park a higher...

Suzlon reports Rs 60-cr Q1 profit.(Financial report)
July 31, 2011... Byline: Our Bureau Wind-turbine supplier Suzlon Energy Ltd has had a profitable first quarter, with the company achieving a net profit of Rs 60 crore against a loss of Rs 912 crore in the year-ago period. The revenue for the company in the...

India Inc's appetite for deals remains strong.
July 31, 2011... Byline: Srividhya Sivakumar Corporate India's M&A overtures have remained at about the same levels as last year, despite the moderating growth and demand, high inflation and interest rates, reveals the half-yearly deal tracker report put...

Defensive picks pay off.
July 31, 2011... Byline: K. Venkatasubramanian Investors can consider buying the units of UTI MNC Fund, given its long-term track record of delivering steady returns. Over one-, three- and five-year time-frames, the fund has outpaced not only its benchmark...

How safety measures change behaviour.
July 31, 2011... Byline: B. Venkatesh A person I recently met commented that business school students' attitude towards learning has changed considerably over the last 20 years. Let's look at behavioural psychology to explain this change. Risk compensation...

Asia advertising agency body joins global forum for online measurement.
July 31, 2011... Byline: Our Bureau The CAAAA (Confederation of Asian Advertising Agency Associations) has become a 'Patronage Organisation' of the upcoming I-COM (International Conference on Online Media Measurement) Global Summit. The Summit will be hosted...

L&T Finance issue price set at Rs 52.
July 31, 2011... Byline: -- Our Bureau L&T Finance Holdings on Saturday announced an issue price of Rs 52 a share for its initial public offering. The price band of the IPO had been Rs 51-59. "While the IPO received good demand at different price points...

To invest in gold, take the SIP route.
July 31, 2011... Byline: Rajalakshmi Sivam Wealth managers have to do a tight-rope walk to deliver consistent returns to clients, even while managing risk. Business Line spoke to Rajmohan Krishnan, Executive Vice-President, Regional Head - North & South,...

'Short-term funds look attractive for a six-month horizon'.
July 31, 2011... Byline: M.V.S. Santosh Kumar With the RBI hiking policy rate hikes more steeply to arrest persistent inflation, what should be the strategy of retail investors when they choose debt funds? Mr Kumaresh Ramakrishnan, Head of Fixed Income, DWS...

Intel bets on low-cost netbooks to taken on growing tablet market.
July 31, 2011... Byline: Balaji Narasimhan T o release sub-Rs 10,000 netbooks soon Chip leader Intel is working on releasing low-cost netbooks in order to woo the first-time user in India. At least one new product is expected to hit the Indian market in...

United Bank net rises 22% on fee income.
July 31, 2011... Byline: Our Bureau United Bank of India achieved 22 per cent growth in net profit at Rs 132 crore for the quarter ended June 30, 2011, against Rs 108 crore during the corresponding period last fiscal. Mr S.L. Bansal, Executive Director,...

Do they all offer 'quality'?
July 31, 2011... Byline: A.K. If the market fancy for consumer stocks was triggered by fundamental factors, it has been further fuelled by the market's penchant for 'quality' and 'good governance'. True, with few policy issues impacting their operations...

Good option for short horizon.
July 31, 2011... Byline: M.V.S. Santosh Kumar Reserve Bank of India (RBI) has for the 11th time in 17 months hiked the repo rate by 50 basis points which has surprised market participants and investors. With inflation not expected to moderate anytime soon,...

TOTO plans $50-m facility in India.
July 31, 2011... Byline: V. Rishi Kumar The $4.5-billion Japanese major TOTO, known for sanitary ware and bath fittings, plans to set up a manufacturing base with an outlay of about $50 million. "The new manufacturing facility, details of which are being...

Alstom-Shanghai Electric deal not to affect pact with BHEL.
July 31, 2011... Byline: Anil Sasi Agreement with French firm is valid till 2020, says BHEL chief State-owned Bharat Heavy Electricals Ltd's technology-sharing arrangement with Alstom for manufacturing supercritical boilers in India will continue...

Rain Commodities Q2 net zooms.
July 31, 2011... Byline: -- Our Bureau Rain Commodities Ltd's net profit zoomed to Rs 164 crore in the second quarter ended June 30, 2011, as against Rs 45 crore in the previous financial year's quarter. The total income also increased 69 per cent to Rs 1,374...

Tax.
July 31, 2011... Mail your queries to taxtalk@thehindu.co.in or by post to 'Tax Talk', Business Line, Kasturi Buildings, 859, Anna Salai, Chennai-600002

Infrastructure woes pulling BPOs back from Tier-III cities.
July 31, 2011... Byline: Balaji Narasimhan Low attrition is one advantage Thanks to over-clogging of major cities, IT majors have started moving to Tier-II or in some cases, even Tier-III cities, but the latter are posing some difficulties for companies,...

GSFC profit up 31% in Q1.(Financial report)
July 31, 2011... Byline: Our Bureau State-promoted Gujarat State Fertilizers and Chemicals Ltd (GSFC) has reported a 13 per cent increase in net sales and 31 per cent rise in net profit in the first quarter of 2011-12, compared with the corresponding quarter...

Cell in Ministries to monitor policy impact.
July 31, 2011... Byline: Our Bureau DRAFT COMPETITION POLICY The Ministry of Corporate Affairs has come out with a draft National Competition Policy, an overarching framework that seeks to assess existing public policies and ensure that these do not...

Time to lighten up on consumer stocks.
July 31, 2011... Byline: AARATI Even as it has taken a cynical view of most other investment ideas, the stock market has pursued the consumption theme with single-minded devotion over the last two years. Sectors such as fast moving consumer goods (FMCGs),...

Technology is more than an enabler for investors.
July 31, 2011... Byline: Jayant Pai & It would be a truism to state that during the past decade or so increasing use of technology has democratised the process of trading in the stock markets. The advent of online trading has thrown open the doors of...

Acer bets on after-sales service.
July 31, 2011... Byline: Abhishek Law "While after-sales services are mandatory, the quality of such services have now become a major (value) differentiator," Mr Sudipto Ghosh, chief customer support officer, Acer India, told Business Line. In 2010, Acer had...

Correction.(Correction notice)
July 31, 2011... With reference to the report, "Government will not buy land for private firms." ( Business Line, July 30), the correct position is that if the land is meant is for a public purpose, the Government will buy land for private firms but not will not...

Air India may get Rs 422 cr every year for VVIP flights.
July 31, 2011... Byline: Our Bureau Air India could get up to Rs 422 crore every year for the VVIPs flight operated by the state-owned airline. The Finance Minister led Group of Ministers has suggested fixing this sum every year to be paid to Air India for...

Reliance Capital in bear's stranglehold.
July 31, 2011... Please give the short- and long-term outlook on Bajaj Electricals bought at an average price of Rs 254. Dr M. Ratnakar Shet Bajaj Electricals (Rs 219.1): Bajaj Electricals was all fired up till October 2010 when it peaked at Rs 347. The...

Understand financial instruments first.
July 31, 2011... Byline: SURESH I am 42, and working in a private company. My wife is also employed. We have a daughter aged 13. After meeting my household expenses of Rs 20,000, EMI of Rs 10,000, SIP and insurance premium, my monthly surplus is Rs 11,000....

Gujarat Alkalies Q1 net up on higher turnover.
July 31, 2011... Byline: Our Bureau State-promoted Gujarat Alkalies and Chemicals Ltd (GACL) has reported an increase of 28 per cent in sales turnover and 144 per cent in profit after tax (PAT) in the first quarter of 2011-12, compared with the corresponding...

After flexing his muscle, Yeddyurappa relents.
July 31, 2011... Byline: Our Bureau BJP Legislature Party to elect new Chief Minister today After the Karnataka Chief Minister, Mr B.S. Yeddyurappa, agreed to quit, the Bharatiya Janata Party (BJP) Legislature Party will meet on Sunday to elect a new...

Anti-dumping duty on polymer used in electrical insulation to continue.
July 31, 2011... Byline: Our Bureau The Designated Authority in the Commerce Ministry has recommended imposition of definitive anti-dumping duty on import of polytetraflouroethylene (PTFE) from China that is widely used in electrical, electronic, mechanical...

Reliance Industries (Rs 827.7).
July 31, 2011... RIL failed to move above Rs 900 last week, but instead it reversed lower from its intra-week high of Rs 893. It plunged 5 per cent for the week and is currently testing the lower boundary on the short-term sideways consolidation range between Rs...

Timing is irrelevant to buy active funds.
July 31, 2011... Byline: B. VENKATESH Individuals choose active diversified funds hoping to generate higher returns than benchmark index. The problem is that active management often underperforms the index. A question that most investors, hence, ask is: When...

IDBI Bank net up 34% on lower provisions.
July 31, 2011... Byline: Our Bureau A robust growth in interest income, a strong growth in margins and lower provisions helped IDBI Bank's net profit rise by 34 per cent to Rs 335 crore during the April to June 2011 period, from Rs 251 crore in the...

Nalco: Sell.
July 31, 2011... Investors could consider selling their shares in aluminium producer Nalco given the fact that the company's expansion plans do not provide the company's top-line sufficient firepower for increased volume growth over the near-term. With aluminium...

Spot rubber rules steady.
July 30, 2011... Byline: Aravindan Physical rubber prices ruled steady on Friday. The market managed to sustain at the prevailing levels on covering purchases following a partial recovery in domestic futures on the National Multi Commodity Exchange. Volumes...

BEL Q1 net profit rises 51%.(Financial report)
July 30, 2011... Bangalore: Defence enterprise Bharat Electronics Ltd has posted a 51 per cent higher net profit at Rs 122.8 crore (Rs 81 crore) for the quarter ended June 30, 2011. Total income increased 11 per cent to Rs 1,084.9 crore (Rs 975.6 crore) BEL's...

Spencer's is sure FDI will help.
July 30, 2011... Byline: Our Bureau Spencer's Retail will eye collaboration with foreign players if foreign direct investment (FDI) is allowed in multi-brand retail. The Centre is weighing a proposal to allow foreign players to open retail stores in the...

Rising interest cost drags Hinduja Global profit in Q1.(Financial report)
July 30, 2011... Byline: Our Bureau An increase in interest costs and fluctuation in foreign currency rates have resulted in a 12.2 per cent decrease in Hinduja Global Solutions' (HGS) net profit to Rs 20.29 crore for the first quarter this fiscal. The...