Times of IndiaPosted by Yogesh on Thursday, 24 July, 2008
BANGALORE: After being at the receiving end of a takeover deal, the man who revolutionized Indian aviation, Capt G R Gopinath, looks close to making an acquisition to quick-start his cargo venture.
According to sources who requested anonymity, Gopinath is holding talks with Bangalore-headquartered cargo company Crescent Air Cargo a company owned by mining baron Santosh Lad for an acquisition. Read the rest of this entry »
Posted in Rumor | Tagged: Crescent Air Cargo, Gopinath | Leave a Comment »
Posted by Yogesh on Thursday, 24 July, 2008
NEW DELHI: In what may be seen as a sobering effect, inflation marginally dipped to 11.89 per cent for the week ended July 12. Inflation has softened somewhat with prices of many essential items either declining or remaining static.
While non-food articles rose 0.8 per cent during the week under review, both food articles and primary articles were up 0.6 per cent, with coffee rising by 8 per cent and fruits and vegetables 2 per cent. Tea was, however, down by 2 per cent, while fuel and power remained unchanged. Read the rest of this entry »
Posted in Indian Economy | Tagged: Inflation | Leave a Comment »
Posted by Yogesh on Thursday, 24 July, 2008
MUMBAI, July 24 – India’s biggest private sector company, Reliance Industries Ltd , met forecasts with a 13 percent rise in quarterly profit as strong refining margins helped overshadow its sluggish petrochemicals business. The top petrochemicals maker, which runs a 660,000 barrels-per-day refinery in western India, said net profit rose to 41.1 billion rupees in its fiscal first quarter ended June 30 from 36.3 billion reported a year earlier.
Posted in Financial Result | Tagged: Reliance Industries | Leave a Comment »
Posted by Yogesh on Thursday, 24 July, 2008
NEW DELHI, July 24 – India’s cabinet on Thursday approved Swedish truck maker Volvo’s investment of $275 million in a joint venture with commercial vehicle maker Eicher Motors Ltd .
Volvo will own 45.6 percent of the joint venture company, a government statement said.
Source Reuters
Posted in Corporate News | Tagged: Eicher Motors, Volvo | Leave a Comment »
Posted by Yogesh on Thursday, 24 July, 2008
MUMBAI (Thomson Financial) – India’s Patni Computer Systems Ltd. said its net profit for the second quarter fell by 19.5 percent to 1.19 billion rupees, but said it has risen about 50 percent on a sequential basis.
The software company said total revenues rose 11.8 percent year-on-year to 7.7 billion rupees. Read the rest of this entry »
Posted in Financial Result | Tagged: Patni | Leave a Comment »
Posted by Yogesh on Thursday, 24 July, 2008
MUMBAI (Thomson Financial) – Engine maker Cummins India Ltd., majority owned by Cummins Inc., said its net profit for the first quarter rose to 882.4 million rupees against 640.2 million rupees in the year-earlier period. In a regulatory filing, the company said its total revenues for the quarter to June 30 increased to 7.45 billion rupees from 5.65 billion rupees. Source CNBC
Posted in Financial Result | Tagged: Cummins | Leave a Comment »
Posted by Yogesh on Thursday, 24 July, 2008
MUMBAI (Thomson Financial) – India’s Piramal Healthcare Ltd. said Thursday its three months to June consolidated net profit rose nearly 57 percent to 680.9 million rupees from 434 million rupees a year earlier.
In a regulatory filing with the Bombay Stock Exchange, the company said its first-quarter net sales rose about 16.5 percent to 7.08 billion rupees. Source CNBC
Posted in Financial Result | Tagged: Piramal | Leave a Comment »
Posted by Yogesh on Thursday, 24 July, 2008
MUMBAI (Thomson Financial) – India’s United Breweries Holdings Ltd. said first-quarter net profit fell to 88.60 million rupees from 294.60 million rupees year ago. For the quarter to end-June, the company said its total income decreased to 710.00 million rupees from 1.1 billion rupees. Source CNBC
Posted in Financial Result | Tagged: United Breweries | Leave a Comment »
Posted by Yogesh on Thursday, 24 July, 2008
MUMBAI (Thomson Financial) – India’s ACC Ltd. said Thursday its second-quarter net profit dipped to 2.55 billion rupees from 3.49 billion rupees a year earlier.
In a regulatory filing with the Bombay Stock Exchange, ACC, in which Switzerland’s Holcim holds more than 40 percent, said sales turnover in the three months to June rose 1.5 percent to 19.2 billion rupees. Source CNBC
Posted in Financial Result | Tagged: ACC | Leave a Comment »
Posted by Yogesh on Thursday, 24 July, 2008
NEW DELHI, July 24 , India’s fifth-largest mobile operator, on Thursday posted a 15 percent fall in consolidated quarterly profit.
Idea, which is acquiring smaller Spice in a deal that would also give Malaysia’s TM International about a fifth in the combined entity, said net profit fell to 2.63 billion rupees in its fiscal first quarter ended June, from 3.09 billion reported a year earlier.
Posted in Financial Result | Tagged: Idea Cellular | Leave a Comment »
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