India Business Insight articles from January 2007

India Business Insight archives from January 2007

BT-TECH MAHINDRA DEAL HITS BILLION-DOLLAR OUTSOURCING MARK (with a 5-year contract).
January 29, 2007... (From India Business Insight) BT, telecommunications and information technology (IT) services company, is paying $1 billion (509 million pounds sterling) to Tech Mahindra for a 5-year contract. Tech Mahindra will support both BT's global...

DHANALAKSHMI BANK (is likely to earn a total income of Rs270-285 crore in 2006-2007).
January 29, 2007... (From India Business Insight) Dhanalaksmi Bank (DB) of Thrissur in Kerala is an Indian private bank. It has 180 branches and 26 extension counters in 8 States of India. DB proposes to open 32 more branches in 2006-2007. The bank...

SKYBUS GETS GREEN LIGHT FROM MINISTRIES (the Ministry of Railways, Government of India, has sanctioned Rs25 crore for further research and development).
January 29, 2007... (From India Business Insight) The Ministry of Railways, Government of India, has sanctioned Rs25 crore for further research and development (R&D) of high-speed rail- based mass transit metro SkyBus of the Konkan Railway Corporation (KRC)....

SOON, PETROL ALTERNATIVE FROM PUNE UNIVERSITY CAMPUS (the Vikram Sarabhai Space Centre is setting up a pilot plant at the University of Pune campus).
January 29, 2007... (From India Business Insight) The Vikram Sarabhai Space Centre (VSSC) is trying to produce an alternative to petrol and petrol-blended fuels using non-edible vegetable oils. The University of Pune has handed over 1,500 square feet...

SEBI HAS RAISED THE CUMULATIVE DEBT INVESTMENT LIMITS FROM $1.75 BILLION TO $2 BILLION (in government securities).
January 29, 2007... (From India Business Insight) The Securities & Exchange Board of India (SEBI) has increased the cumulative debt investment limits for foreign institutional investors (FIIs)/sub account investments in government securities from $1.75...

FOREIGN COMPANIES CAN NOW BUY UP TO 26% IN STOCK EXCHANGES (the Reserve Bank of India and the Securities & Exchange Board of India are issuing notices accordingly).
January 29, 2007... (From India Business Insight) The Reserve Bank of India (RBI) will issue a notice under the Foreign Exchange Management Act and the Securities & Exchange Board of India (SEBI) will issue a notice under the Contracts Regulations Act,...

INDIAN DEPOSITORY RECEIPTS TO BE INTRODUCED BY 2007 (will help domestic and foreign companies to raise funds in the Indian market in a cost-effective manner).
January 29, 2007... (From India Business Insight) The Securities & Exchange Board of India (SEBI) proposes to introduce Indian Depository Receipts (IDRs) in the Indian capital market by 2007. IDRs will help domestic and foreign companies to raise funds...

CHANDAMAMA TO GO DIGITAL (S.V. Digital Library has offered to digitise all the issues).
January 29, 2007... (From India Business Insight) Chandamama is planning to offer the back issues of the magazine in digital form. The children's magazine has file copies of all its issues published since 1947. Shri Venkateshwara Digital Library has offered...

CENTURION BANK NET UP 44% IN Q3 (the bank has announced a net profit of Rs33.5 crore for Oct- Dec 2006).
January 29, 2007... (From India Business Insight) Centurion Bank of Punjab has announced a growth of 44 percent in net profit at Rs33.5 crore for Oct-Dec 2006 (Rs23.3 crore for Oct- Dec 2005). Total income has gone up to Rs248.2 crore (Rs163.6 crore)....

RUPEE ENDS A TAD LOWER (the rupee has closed at 44.28.29 to the US dollar on 24 Jan 2007).
January 29, 2007... (From India Business Insight) Indian rupee has closed lower by nearly four paise against the US dollar on 24 Jan 2007. The rupee opened at 44.24/26 and closed at 44.28/29 to the dollar. The forward premium for six months closed at 3.79...

BONDS SHED 7 PAISE AS OIL RISES (the order matching system recorded trade volumes of Rs2,875 crore).
January 29, 2007... (From India Business Insight) Bond prices in India have declined by seven paise on 24 Jan 2007 due to the increase in oil prices. The order matching system recorded trade volumes of Rs2,875 crore. The 8.07 percent 2017 paper opened at...

CALL RATES END AT 7.75-7.85% (RBI accepted 10 bids for Rs3,455 crore in the first repo auction).
January 29, 2007... (From India Business Insight) Call rates in India have closed at 7.75-7.85 percent on 24 Jan 2007. The Reserve Bank of India (RBI) accepted two bids for Rs160 crore in the first reverse repo auction. RBI accepted 10 bids for Rs3,455...

IOB POSTS 25% RISE IN NET ON HIGHER INCOME (the bank has announced a net profit of Rs246.78 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Indian Overseas Bank (IOB) has announced a growth of 25.13 percent in net profit at Rs246.78 crore for Oct-Dec 2006 (Rs197.21 crore for Oct-Dec 2005). Total income has gone up to Rs1,671.69 crore (Rs1,303.31...

KVB Q3 NET RISES MARGINALLY (the bank has announced a net profit of Rs26.19 crore for Oct- Dec 2006).
January 29, 2007... (From India Business Insight) Karur Vysya Bank (KVB) has announced a net profit of Rs26.19 crore for Oct-Dec 2006 (Rs25.86 crore for Oct-Dec 2005). Interest income has gone up to Rs225.28 crore (Rs163.78 crore). The bank has announced a...

CORPORATION BANK IN TALKS TO RAISE DEBT FUNDS ABROAD (the bank intends to borrow $200 million).
January 29, 2007... (From India Business Insight) Corporation Bank is planning to borrow up to $200 million from foreign banks. The bank has the scope to raise tier-II capital of Rs2,000 crore. Corporation Bank has announced a net profit of Rs146.42 crore...

BANK OF BARODA POSTS 63% RISE IN Q3 NET (the bank has announced a net profit of Rs329.13 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Bank of Baroda has announced a growth of 63 percent in net profit at Rs329.13 crore for Oct-Dec 2006 (Rs202.18 crore for Oct-Dec 2005). Total income has gone up to Rs2,720.7 crore (Rs2,047 crore). ...

ALLAHABAD BANK Q3 NET UP AT Rs286 CRORE (total income has gone up to Rs1,430 crore).
January 29, 2007... (From India Business Insight) Allahabad Bank has announced a net profit of Rs286 crore for Oct- Dec 2006 (Rs224 crore for Oct-Dec 2005). Total income has gone up to Rs1,430 crore (Rs1,095 crore). Total expenses have gone up to Rs1,104...

RAILWAYS, ROSA POWER INK PACT FOR TRANSPORTING COAL (the railways will carry 27 lakh tonnes of coal per year).
January 29, 2007... (From India Business Insight) Indian Railways has signed a coal transportation agreement with Rosa Power Supply Company Ltd (RPSCL). The railways will carry 27 lakh tonnes of coal per year for 25 years. The railways is expected to...

INDIA, RUSSIA TO BOOST DEFENCE CO-OPERATION (the countries will invest $600 million in the MRTA project).
January 29, 2007... (From India Business Insight) India and Russia are planning to enter into a number of co- operative projects in the defence sector. The countries will invest $600 million in the multi-role transport aircraft (MRTA) project. ...

B2C MARKET IN E-COMMERCE PUT AT Rs4,160 CRORE (the market is expected to go up to Rs9,259 crore by the end of 2009).
January 29, 2007... (From India Business Insight) Internet research consulting firm, EstatsIndia, is of opinion that the business-to-consumer (B2C) market in e-commerce will touch Rs4,160 crore in 2006-2007. The matrimonial and dating services are expected...

BOMBAY DYEING NET DIPS 72.5% IN Q3 (the company has announced a net profit of Rs7.21 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Bombay Dyeing & Manufacturing Company Ltd has announced a decline of 72.58 percent in net profit at Rs7.21 crore for Oct-Dec 2006 (Rs26.3 crore for Oct-Dec 2005). Net sales have declined to Rs106.63 crore...

JBF IND Q3 NET RISES 143% (the company has announced a net profit of Rs23.37 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) JBF Industries Ltd has announced a growth of 143 percent in net profit at Rs23.37 crore for Oct-Dec 2006 (Rs9.6 crore for Oct-Dec 2005). Net sales have gone up to Rs414.67 crore (Rs176.64 crore). The company...

HIMACHAL FUTURISTIC NET UP 51% (the company has announced a net profit of Rs44.81 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Himachal Futuristic Communications Ltd has announced a growth of 51 percent in net profit at Rs44.81 crore for Oct-Dec 2006. Revenues have gone up by 87 percent to Rs318.29 crore. The company has an...

OPTO CIRCUITS Q3 NET UP 97.9% (the company has announced a net profit of Rs19.83 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Opto Circuits (India) Ltd has announced a growth of 97.90 percent in net profit at Rs19.83 crore for Oct-Dec 2006 (Rs10.02 crore for Oct-Dec 2005). Net sales have gone up to Rs55.23 crore (Rs32.18...

MRPL TO SET UP THREE RETAIL OUTLETS (the company has entered into an arrangement with HPCL).
January 29, 2007... (From India Business Insight) Mangalore Refinery and Petrochemicals Ltd (MRPL) is planning to set up three retail outlets by Dec 2007. The company has entered into an arrangement with Hindustan Petroleum Corporation Ltd (HPCL) to share...

HC AWARDS MARKETING RIGHTS FOR CRICKET TO NIMBUS (the court has ordered DD not to sell the feed to private DTH operators).
January 29, 2007... (From India Business Insight) The Delhi High Court (HC) has awarded the marketing rights for the cricket matches between India and West Indies to Nimbus. The court has ordered Doordarshan (DD) not to sell the feed to private...

PRIVATE DEVELOPERS TO GET 27,000 HECTARES BONANZA (for building residential apartments).
January 29, 2007... (From India Business Insight) The Government of Delhi will unlock 27,000 hectares of land for private developers to acquire for building residential apartments. The pricing of the apartments will be determined by a real estate regulator....

CAMBRIDGE DIVESTS ARM BUSINESS TO ACS FOR $30 MILLION (is part of the company's decision to exit servicing the Government vertical).
January 29, 2007... (From India Business Insight) Cambridge Solutions has sold a part of its Government vertical, operated under its subsidiary Albion in the US, to Affiliated Computer Services (ACS) for $30 million. The business used to generate revenues...

MCLEOD RUSSEL NET AT Rs17.5 CRORE (owing to improved price realisations from domestic and export sales).
January 29, 2007... (From India Business Insight) McLeod Russel India has reported a net profit of Rs17.47 crore in Oct-Dec 2006 (Rs81 lakh in Oct-Dec 2005). The increase in net profile has been attributed to improved price realisations from domestic and...

EVEREST KANTO NET ZOOMS 133% (net sales increases by 94%).
January 29, 2007... (From India Business Insight) Everest Kanto Cylinder (EKC) has reported a 133 percent increase in consolidated net profit at Rs20.38 crore in Oct-Dec 2006 (Rs8.73 crore in Oct-Dec 2005). The company's net sales increased by 94 percent to...

SINTEX TO BUY EUROPEAN FIRM FOR 40 MILLION EUROS (by the end of Mar 2007).
January 29, 2007... (From India Business Insight) Sintex Industries, Ahmedabad, will acquire a European company for 40 million euros by the end of Mar 2007. The European company is an electric engineering and auto ancillary firm with manufacturing...

NATSTEEL ASIA BUYS MAJORITY STALE IN 2 ARMS (has acquired 40% stake in NatSteel Trade International Pte Ltd).
January 29, 2007... (From India Business Insight) NatSteel Asia Pte Ltd, subsidiary of Tata Steel, has increased its stake in three of NatSteel's units. NatSteel Asia has acquired 40 percent stake in NatSteel Trade International Pte Ltd for S$6.5...

ASIAN PAINTS SCOUTS FOR BUYOUTS IN AFRICA, ASIA (is looking for acquisitions in the decorative and industrial paints segments).
January 29, 2007... (From India Business Insight) Asian Paints is looking for acquisitions in Africa and Asia. The company operates in 22 countries with a turnover of Rs3,020 crore. The company has 30 manufacturing facilities catering to consumers...

MOVING AHEAD (has reported a 37% increase in net sales).
January 29, 2007... (From India Business Insight) Tata Motors has reported a 37 percent increase in net sales at Rs8,176 crore in Oct-Dec 2006. The company's operating profit margin increased by 130 basis points to 14.2 percent while operating profit...

COLGATE-PALMOLIVE: LACKING SHINE (operating profit declines by 16.8%).
January 29, 2007... (From India Business Insight) Colgate-Palmolive has reported a 12.8 percent sales growth in Oct- Dec 2006. The company's operating profit declined by 16.8 percent while operating profit declined to 16.9 percent. The company's...

PAN RELIEF SOON FOR MF INVESTORS (CVL to make changes in the MIN allotment procedure).
January 29, 2007... (From India Business Insight) The Association of Mutual Funds in India (Amfi) and CDSL Ventures Ltd (CVL) are working on a proposal made by the Ministry of Finance, Government of India, to make the permanent account number (PAN) as the...

NHB, SBI IN CO-FINANCING PACT FOR RURAL HOUSING FINANCE (to jointly promote financial products for rural housing and urban renewal by co-finance and co-arrangement).
January 29, 2007... (From India Business Insight) The National Housing Bank (NHB) on 24 Jan 2007 signed a memorandum of co-operation (MoC) with the State Bank of India (SBI) for collaboration to provide housing finance. Under the MoC, NHB and SBI will...

HINDALCO NET RISES 92% ON HIGHER PRICES (the company has announced a net profit of Rs643.9 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Hindalco Industries Ltd has announced a growth of 92 percent in net profit at Rs643.9 crore for Oct-Dec 2006 (Rs336 crore for Oct- Dec 2005). Net sales have gone up to Rs4,656 crore (Rs2,873 crore)....

RUSSIA TO BUILD MORE N-PLANTS AT KOODANKULAM (India and Russia have signed eight agreements).
January 29, 2007... (From India Business Insight) Russia has decided to build more nuclear power units at Koodankulam atomic station in Tamil Nadu. Russia is setting up two units of 1,000 megawatt each at Koodankulam. India and Russia have signed eight more...

IND GROWTH HITS DECADE-HIGH (industrial growth of India has gone up to 14.4 percent in Nov 2006).
January 29, 2007... (From India Business Insight) Industrial growth of India has gone up to a 10-year record at 14.4 percent in Nov 2006. Manufacturing sector has recorded a growth of 15.7 percent. Mining and quarrying sector has recorded a growth of seven...

HC OKAYS PARADEEP CARBONS' MERGER WITH GOA CARBON (GCL has announced a net profit of Rs245.48 lakh for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) The Bombay High Court (HC) has approved the merger of Paradeep Carbons Ltd with Goa Carbon Ltd (GCL) with effect from 1 Jul 2005. GCL has announced a net profit of Rs245.48 lakh on sales of Rs6,321.31 lakh...

NOVOPAN GETS HC NOD FOR MERGER (the merger will increase the capacity of the company by over 100 percent).
January 29, 2007... (From India Business Insight) The Andhra Pradesh High Court has approved the merger of three entities of Novopan Industries Ltd with the company. The company will merge the particle division of GVK Novopan Industries Ltd, resin...

ESCORTS TO RAISE $100 MILLION (the company has convened the AGM on 24 Feb 2007).
January 29, 2007... (From India Business Insight) Escorts Ltd is planning to raise $100 million through issue of equity-linked instruments through Qualified Institutional Placements. The company expects to reduce the interest cost by over Rs20 crore in...

CENTURY TEXTILES Q3 NET UP 11.86% (the company has announced a net profit of Rs33.93 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Century Textiles and Industries Ltd has announced a growth of 11.86 percent in net profit at Rs33.93 crore for Oct-Dec 2006 (Rs30.33 crore for Oct-Dec 2005). Sales have gone up to Rs800.95 crore (Rs638.96...

GARWARE OFFSHORE TO RAISE $25 MILLION (to increase its global competitiveness).
January 29, 2007... (From India Business Insight) Garware Offshore Services Ltd is planning to raise $25 million through issue of securities. The company intends to use the funds to increase its global competitiveness and for growth. Garware Offshore...

MRF NET PROFIT AT Rs28.96 CRORE (the company has announced sales of Rs1,207.93 crore for Oct- Dec 2006).
January 29, 2007... (From India Business Insight) MRF Ltd has announced a net profit of Rs28.96 crore for Oct-Dec 2006 (Rs13.92 crore for Oct-Dec 2005). Sales have gone up to Rs1,207.93 crore (Rs934.35 crore). Provision for tax has gone up to Rs14.18 crore...

DUNLOP'S AMBATTUR UNIT RESTARTS PRODUCTION (the company has resolved the issues of power supply, labour and funding).
January 29, 2007... (From India Business Insight) Dunlop India Ltd has restarted the production at its facility in Ambattur from 23 Jan 2007. The company has resolved the issues of power supply, labour and funding. The facility will produce 27 tonnes a day...

ONGC MAY ASK GOVERNMENT TO REVOKE ORDER ON DEEPWATER BLOCKS (changes in the Government policies had resulted in the delays).
January 29, 2007... (From India Business Insight) Oil and Natural Gas Corporation (ONGC) is planning to ask the Government of India to revoke the order to relinquish five deepwater blocks. The Government had asked the company to relinquish the blocks in...

TITAN INDUSTRIES TO MERGE 3 ASSOCIATE COMPANIES (the company expects to issue 1.6 lakh equity shares to minority shareholders).
January 29, 2007... (From India Business Insight) Titan Industries Ltd is planning to merge three associate companies with itself. The board of directors has decided to merge Samrat Holdings Ltd, Titan Holdings Ltd and Questar Investments Ltd with the...

TITAN Q3 NET UP 155% (the company has announced a net profit of Rs27.54 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Titan Industries Ltd has announced a growth of 155 percent in net profit at Rs27.54 crore for Oct-Dec 2006 (Rs10.78 crore for Oct- Dec 2005). Total income has gone up to Rs530.01 crore (Rs370.71 crore).

APOLLO TYRES Q3 NET ZOOMS (the company has announced a net profit of Rs35.07 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Apollo Tyres Ltd has announced a net profit of Rs35.07 crore for Oct-Dec 2006 (Rs16.44 crore for Oct-Dec 2005). Total income has gone up to Rs857.63 crore (Rs678.61 crore).

GAYATRI PROJECTS POSTS HIGHER Q3 NET (the company has announced a net profit of Rs8.54 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Gayatri Projects Ltd has announced a net profit of Rs8.54 crore for Oct-Dec 2006 (Rs3.92 crore for Oct-Dec 2005). Sales turnover has gone up to Rs153.08 crore (Rs99.84 crore). The company has an order book of...

JSW STEEL PLANS TO CARRY ORE IN SLURRY FORM VIA PIPELINES (the two pipelines will run parallel to the national highways).
January 29, 2007... (From India Business Insight) JSW Steel Ltd is planning to transport iron ore in the form of slurry through two pipelines. The company intends to set up a pipeline from Orissa to its proposed steel plant in Midnapore. JSW Steel intends...

43% RISE IN GMR INFRA Q3 NET PROFIT (the company has announced a net profit of Rs68.75 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) GMR Infrastructure Ltd has announced a growth of 43 percent in net profit at Rs68.75 crore for Oct-Dec 2006 (Rs48.06 crore for Oct-Dec 2005). Gross revenues have gone up to Rs430.87 crore (Rs219.89...

MORARJEE TEXTILES NET DOWN 10% (the company has announced a net profit of Rs2.03 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Morarjee Textiles Ltd has announced a decline of 10.96 percent in net profit at Rs2.03 crore for Oct-Dec 2006 (Rs2.28 crore for Oct- Dec 2005). Net sales have gone up to Rs54.67 crore (Rs42.09 crore)....

ACCEL FRONTLINE BUYS BANKING UNIT OF TELESIS GLOBAL (the company will implement the Telesis products in future).
January 29, 2007... (From India Business Insight) Accel Frontline Ltd has acquired the banking solutions division of Telesis Global Solutions.The company is providing information technology infrastructure management services.Accel will implement the...

PRITHVI INFO NET SURGES (the company has announced a net profit of Rs23.36 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Prithvi Information Services Ltd has announced a net profit of Rs23.36 crore for Oct-Dec 2006 (Rs14.34 crore for Oct-Dec 2005). Sales income has gone up to Rs199.34 crore (Rs116.51 crore). The company...

MOSER BAER Q3 PAT RISES 188% (the company has announced a PAT of Rs37.62 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Moser Baer Ltd has announced a growth of 188.4 percent in profit after tax (PAT) at Rs37.62 crore for Oct-Dec 2006 (Rs13.04 crore for Oct-Dec 2005). Total income has gone up to Rs515.02 crore (Rs436.54...

FREESCALE JOINS IBM ALLIANCE (to conduct R&D in the semiconductor domain).
January 29, 2007... (From India Business Insight) Freescale has joined the IBM Alliance to conduct research and development (R&D) in the semiconductor domain. The company will have access to the combined manufacturing capacity of Common Platform partners...

FRANKLIN TEMPLETON TO EXPAND IT ARM (the company has moved into a new facility with a capacity of 1,800 people).
January 29, 2007... (From India Business Insight) Franklin Templeton International Services is planning to expand its information technology (IT) division in Hyderabad with an investment of $18 million. The company has moved into a new facility with a...

ROAMING TARIFFS CUT BY UP TO 56% (rental, surcharge and other additional charges have also been scrapped).
January 29, 2007... (From India Business Insight) The Telecom Regulatory Authority of India (TRAI) has issued an order reducing the domestic mobile roaming charges by up to 56 percent with effect from 15 Feb 2007. TRAI has also scrapped all forms of...

ICICI BANK RAISES DEPOSIT RATES (by 0.25-1.5%, effective from 20 Jan 2007).
January 29, 2007... (From India Business Insight) The ICICI Bank has announced an increase in fixed deposit (FD) interest rates across tenors by 0.25-1.5 percent effective from 20 Jan 2007. For FDs of less than Rs15 lakh and with a maturity period of 390...

JINDAL STAINLESS Q3 PAT UP (at Rs113.05 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Jindal Stainless Ltd has registered an increase in its profit- after-tax (PAT) at Rs113.05 crore for Oct-Dec 2006 (Rs20.94 crore for Oct-Dec 2005). The sales turnover of the company was Rs1,544.91 crore...

PETRONET Q3 NET RISES 70 PERCENT TO Rs85 CRORE (and turnover increased by 53% to Rs1,585 crore during Oct- Dec 2006).
January 29, 2007... (From India Business Insight) Petronet LNG Ltd (PLL) has registered 70 percent increase in its net profit at Rs85.1 crore for Oct-Dec 2006, compared to Oct-Dec 2005. The company's turnover increased by 53 percent to Rs1,585 crore....

BILCARE SIGNS PACT WITH HONEYWELL (to jointly produce high-performance materials based packaging systems for sensitive drugs).
January 29, 2007... (From India Business Insight) Bilcare Ltd, a pharmaceutical packaging solutions company, has signed a regional developmental collaboration agreement with the specialty films division of Honeywell International. The two companies will...

GITANJALI GEMS Q3 NET ZOOMS 85 PERCENT (to Rs24.82 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Gitanjali Gems Ltd has registered 85.57 percent increase in its net profit at Rs24.82 crore for Oct-Dec 2006 (Rs13.37 crore in Oct-Dec 2005). The net sales of the company have increased by 66.89 percent...

44 PERCENT RISE IN MONNET ISPAT Q3 NET (at Rs43.17 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Monnet Ispat and Energy Ltd (MIEL) has registered 43.7 percent increase in its net profit at Rs43.17 crore for Oct-Dec 2006 (Rs30.04 crore for Oct-Dec 2005). The company's turnover has increased by 49...

GREENPLY NET PROFIT UP 76 PERCENT (to Rs6.54 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Greenply Industries Ltd (GIL) has registered 76 percent growth in its net profit at Rs6.54 crore for Oct-Dec 2006 (Rs3.71 crore for Oct-Dec 2005). The company's net sales grew by 48 percent to Rs108.85...

PURAVANKARA DEPLOYS ORACLE TOOL (Oracle E-Business Suite of applications deployed in Bangalore, Kochi, Hyderabad, Chennai and Mumbai offices).
January 29, 2007... (From India Business Insight) Puravankara Projects Ltd (PPL) has completed the implementation of Oracle E-Business Suite of applications across its offices in Bangalore, Kochi, Hyderabad, Chennai and Mumbai. Oracle certified partner KPMG...

MARUTI LAUNCHES DIESEL SWIFT (with the base model of the 1.3-litre diesel variant priced at Rs4,68,000).
January 29, 2007... (From India Business Insight) Maruti Udyog Ltd (MUL) has launched the diesel variant of its premium compact car, Swift. The company has priced the base model of the 1.3-litre diesel variant at Rs4,68,000, about 17 percent higher than...

GMR IND Q3 TURNOVER UP AT Rs77 CRORE (records 126% rise in its turnover at Rs77 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) GMR Industries has recorded a rise of 126 percent in its turnover at Rs77 crore for Oct-Dec 2006 (Rs34 crore in Oct-Dec 2005). The profit before tax (PBT) of the company was Rs12 crore (Rs12 crore). For...

FINLAND CO VACON OPENS OFFICE IN CHENNAI (receives a Rs13-crore from Reliance for 270 AC drives).
January 29, 2007... (From India Business Insight) Vacon, a Finland-headquartered company manufacturing AC drives for AC motors, has set up an office in Chennai to cater to the Indian market. Vacon has received a Rs13-crore order from Reliance for 270 AC...

NICHOLAS PIRAMAL SETS UP INHALATION ANAESTHETICS PLANT IN HYDERABAD (to produce Halothane and Isoflurance).
January 29, 2007... (From India Business Insight) Nicholas Piramal India Ltd has set up its first inhalation anaesthetics plant in Asia at Hyderabad. The plant will produce Halothane and Isoflurance to ensure availability of these products in India at a...

SASKEN Q3 NET AT Rs11.87 CRORE (company's revenues increased to Rs131.02 crore in Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Sasken Communication Technologies (SCT) has registered a consolidated net profit of Rs11.87 crore for Oct-Dec 2006 (net loss of Rs1.99 crore in Oct-Dec 2005). The company's revenues increased to Rs131.02...

MOLDTEK REVENUE, NET UP (records net sales of Rs22.76 crore and net profit of Rs2.26 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Moldtek Technologies Ltd (MTL) has recorded an increase in its net sales at Rs22.76 crore for Oct-Dec 2006 (Rs18.45 crore in Oct- Dec 2005). The net profit increased to Rs2.26 crore (Rs1.01 crore). For...

SAKSOFT NET PLUNGES 79 PERCENT (to Rs52.4 lakh in Oct-Dec 2006).
January 29, 2007... (From India Business Insight) Saksoft Ltd, a software provider to banks and financial institutions, has registered an increase by 2.5 times in its consolidated revenues at Rs32.06 crore for Oct-Dec 2006 (Rs12.63 crore in Oct-Dec 2005)....

INTEL WORKING ON WIMAX STANDARDS (making WiMAX a global standard and reducing the cost of usage of WiMAX equipment).
January 29, 2007... (From India Business Insight) Intel has announced that it will work on making WiMAX a global standard and reducing the cost of usage of WiMAX equipment, during 2007. The company has also said that it will continue to invest in processor...

VIDEO STREAMS ON MOBILES (will be one of the top applications of WiMAX in India during 2008).
January 29, 2007... (From India Business Insight) Intel Technology India has said that video streaming on mobiles using WiMAX will be one of the top applications of WiMAX in India during 2008. Mobile users will be able to manipulate high quality video and...

HCL INFOSYSTEMS PAT UP 19 PERCENT (to Rs76 crore for Oct-Dec 2006).
January 29, 2007... (From India Business Insight) HCL Infosystems Ltd has registered an increase of 19 percent in its profit-after-tax at Rs76 crore for Oct-Dec 2006 (Rs63.77 crore in Oct-Dec 2005). The consolidated revenues of the company have increased by...

ITTIAM RATED 'MOST PREFERRED' (provider of DSP-based intellectual property in the DSP Professionals Survey 2006).
January 29, 2007... (From India Business Insight) The Digital Signal Processing (DSP) Professionals Survey 2006 has rated Ittiam Systems as the world's most-preferred provider of DSP-based intellectual property. The survey has been conducted by Forward...

RELIANCE RETAIL OPENS 12 STORES IN CHENNAI (stores will sell fresh fruits and vegetables, staples, bakery and dairy products).
January 29, 2007... (From India Business Insight) Reliance Retail Ltd launched 12 Reliance Fresh stores in Chennai on 24 Jan 2007. The stores will sell fresh fruits and vegetables, staples, bakery and dairy products and pooja flowers. Reliance Fresh...

CRUDE OIL OUTPUT IN DEC UP 10.6 PERCENT (to 2.923 million tonnes from 2.642 mt in Dec 2005).
January 29, 2007... (From India Business Insight) India's crude oil output increased by 10.6 percent to 2.923 million tonnes (mt) in Dec 2006 (2.642 mt in Dec 2005). However, the output is 5.6 percent less than the Government of India's target of 3.096 mt....

POWERGRID IN TALKS WITH US FIRM (to form a strategic alliance with AEP for executing transmission projects in the US).
January 29, 2007... (From India Business Insight) PowerGrid Corporation of India Ltd (PGCIL) has initiated talks with American Electric Power (AEP), an electrical company in the US, to form a strategic alliance for executing transmission projects in the US...

FIRSTSOURCE IPO TO OPEN ON JAN 29 (to offer 6.93 crore equity shares of Rs10 each for cash at a premium).
January 29, 2007... (From India Business Insight) Firstsource Solutions Ltd (FSL), a BPO company, has announced an initial public offering (IPO) of 6.93 crore equity shares of Rs10 each for cash at a premium to be decided through the 100 percent...