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Kolkata: Footwear company Bata India Limited has sold its popular mass brand, ‘Hawai’ to Sau Paolo Alparagatas SA, a Brazilian company for an estimated Rs3.91 crore.
PM Sinha, chairman of the company confirmed the news and said that the Hawai brand of slippers were being imitated by numerous local manufacturers and this was the main cause for the decision to sell out. Read the rest of this entry »
Archive for June 23rd, 2008
Bata India sells Hawai brand
Posted by Yogesh on Monday, 23 June, 2008
Posted in Corporate News | Tagged: Bata India | Leave a Comment »
Petrol prices may go up by Rs17 a litre
Posted by Yogesh on Monday, 23 June, 2008
New Delhi: The government is believed to be considering decontrolling petrol prices, a move that may see rates being hiked by Rs16-17 a litre, but diesel will continue to be sold at a subsidized price.
The relentless rise in international oil prices that last week touched an all time high fo 135 dollars a barrel has forced the government to mull options to save state-run firms, which expect a revenue loss of Read the rest of this entry »
Posted in Indian Economy | Tagged: Petrol | Leave a Comment »
Bharat Petro, Videocon eye stake in Mozambique block
Posted by Yogesh on Monday, 23 June, 2008
New Delhi: Bharat Petroleum Corp and Videocon Industries Ltd are close to buying a 20% stake in Mozambique’s Rovuma Offshore Area 1 block from US firm Anadarko Petroleum Corp., sources at the two Indian firms said.
Indian and Chinese firms have been aggressive in recent years in bidding for global exploration and production assets, as the Asian rivals look to secure energy supplies to satisfy their fast-growing economies. Read the rest of this entry »
Posted in Corporate News | Tagged: Bharat Petroleum, Videocon | Leave a Comment »
Laqshya Media says Warburg Pincus to invest up to 2.76 bln rupees
Posted by Yogesh on Monday, 23 June, 2008
MUMBAI (Thomson Financial) – India-based Laqshya Media, a privately held Out-of-Home (OOH) media advertising company, said United States-based private equity firm Warburg Pincus LLC. will invest up to 2.76 billion rupees in the company over the next 12 months.
Alok Jalan, Laqshya Media’s managing director, said: “We will be capitalising on the multiple growth opportunities we see Read the rest of this entry »
Posted in Corporate News | Tagged: Investment, Laqshya Media | Leave a Comment »
Rio Tinto lodges mining lease applications for Bunder diamond project in India
Posted by Yogesh on Monday, 23 June, 2008
LONDON (Thomson Financial) – Rio Tinto lodged mining lease applications for its Bunder diamond project in India in a move it called a vital step in the development of what could be the first significant world class diamond mine in the country.
Rio Tinto announced the exploration target for diamond mineralisation at the Bunder project of 40-70 million tonnes at a grade of between Read the rest of this entry »
Posted in Corporate News | Tagged: Diamond, Rino Tinto | Leave a Comment »
Tata Power FY08 net rises 24.8 pct
Posted by Yogesh on Monday, 23 June, 2008
June 23 – Year ended March 31 (versus the same period a year earlier, in billion rupees unless stated)
Net profit 8.70 vs 6.97
Net sales 59.16 vs 47.15
NOTE: Tata Power Co Ltd is a private power producer and part of salt-to-software Tata Group.
Source Reuters
Posted in Financial Result | Tagged: Tata Power | Leave a Comment »
ONGC says exits refinery, SEZ projects
Posted by Yogesh on Monday, 23 June, 2008
NEW DELHI, June 23 – India’s Oil and Natural Gas Corp has decided to exit projects to set up a refinery and a special economic zone in the southern state of Andhra Pradesh, the company said in a statement on Monday.
ONGC was planning to execute the projects through its subsidiary Mangalore Refinery and Petrochemicals Ltd . Read the rest of this entry »
Posted in Corporate News | Tagged: ONGC | Leave a Comment »
India’s ONGC says unit awards contract to BHEL, GE
Posted by Yogesh on Monday, 23 June, 2008
MUMBAI, June 23 – India’s state-run explorer, Oil and Natural Gas Corp , said on Monday its unit had placed a 22-billion-rupee order with a consortium of Bharat Heavy Electricals Ltd and General Electric .
ONGC Tripura Power Co, 50 percent owned by ONGC, has given the order for generation of 720 megawatts of power in the north-eastern state of Tripura. Read the rest of this entry »
Posted in Corporate News | Tagged: Contract, ONGC | Leave a Comment »
India’s GAIL board sets 1-for-2 bonus share issue
Posted by Yogesh on Monday, 23 June, 2008
NEW DELHI, June 23 – Indian state-run gas transporter GAIL India Ltd said on Monday its board had recommended giving shareholders one bonus share for every two held.
The issue was subject to the requisite approvals, the company said in a notice to the stock exchange.
Source Reuters
Posted in Financial Result | Tagged: Gail | Leave a Comment »
Quantum sees opportunity in India’s stock fall
Posted by Yogesh on Monday, 23 June, 2008
MUMBAI – A sharp drop in Indian shares has brought many stocks to attractive levels and expanded opportunities for those looking to stay invested for more than three years, a strategist with fund firm Quantum said on Friday.
India’s main stock index .BSESN fell 3.42 percent to its lowest in 2008 on Friday rattled by 13-year high inflation. The index, Read the rest of this entry »
Posted in Stock Recommendation | Tagged: Quantum | Leave a Comment »
