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India to add $100 bn to forex reserve in '08
Plan a basket of debt instruments
SEBI to make close-ended MF schemes attractive
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TN Govt warns MRF unit takeover if lockout not lifted
Mittal, Ambanis, Premji score high on wealth charts
Essar to raise $2 bn, ramp up unit by March
Tatas may get full control of Jaguar, Land Rover
Marico Industries reports impressive numbers for Dec quarter

Bharti Airtel gets additional spectrum in five circles
Reddy tells banks to cut interest rates
RBI tells banks to shed gilts and lend to job creators
RBI warns of overall inflationary pressures
RBI's decision has spooked real estate cos

Reddy speaks out
Analysts' picks: Spicejet, L&T, Kalindee Rail Nirman, Exide
Market nervous; Sensex down 300 points
TCS cuts staff salaries in tune with tough times
TCS bags $200 mn contract from Sun Life Financial

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Moneycontrol.com

Union budget to be favourable for tax-payers: PN Vijay
SEBI okays draft proposals for debt sec listing
New FDI policy for aviation, petchem, mining unveiled

Budget will wash excesses from mkt: Dalal
Slim chance of Fed rate cut tonight
Phoenix Mills to build 50 malls in 3-4 yrs
OnMobile Global IPO subscribed 11 times

SQL Star Q3 revenue up 51%, PAT up by 56%
Jubilant Organosys Q3 PAT up 40% at Rs 894 mn
What experts say about IRB Infrastructure IPO?

Majority of experts say don't apply for Shriram EPC




Source: www.theeconomictimes.com and http://www.moneycontrol.com . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Results: Bharti, DLF, NTPC, IOB, BOB, SunPharma, MTNL, MandM, BajajAuto, HindZinc, TataChem, PowerGrid etc

Bharti Airtel Q3 net profit jumps 36% YoY
Bharti Airtel Q3 net up 42%

MUMBAI: Bharti Airtel's net profit for the quarter ended Dec 31, 2007 rose36.04 per cent to Rs 1,419.84 crore against Rs 1,043.69 crore in the same quarter of previous year. Total revenue increased 41.47 per cent to Rs 6,682.57 crore from Rs 4,723.68 crore a year ago. Consolidated results as per Indian GAAP: The group's net profit for the October-December quarter rose 38.25 per cent to Rs 1,428.56 crore compared with Rs 1,033.34 crore in the corresponding quarter of earlier year. Total income grew 42.40 per cent to Rs 7,017.95 crore from Rs 4,928.18 crore in last year. Consolidated results as per US GAAP: The group posted a net profit of Rs 1,722.40 crore for the third quarter, a growth of 41.74 per cent compared with Rs 1,215.13 crore in the same period of year earlier. Total revenue increased from Rs 4,912.92 crore to Rs 6,963.90 crore in the current year. At 10:42 am, Bharti Airtel shares were up 1.01 per cent at Rs 858.95 on BSE.



Bank of Baroda Q3 net profit jumps 52% YoY
Bank of Baroda net profit for the quarter ended Dec 31, 2007 rose 52.23 per cent to Rs 501.05 crore against Rs 329.13 crore in the same quarter of previous year. Total income increased 35.68 per cent to Rs 3,620.18 crore from Rs 2,668.11 crore a year ago


DLF Oct-Dec consolidated net $544.4 mn
Real estate developer DLF Ltd reported a consolidated net profit of 21.45 billion rupees ($544.4 mn) for the October-December quarter. Its standalone net profit was 6.06 billion rupees. The company, which was listed in the middle of last year, did not give year-ago numbers.

NTPC Q3 net profit falls 15.37%
National Thermal Power Corporation’s net profit fell 15.37 per cent to Rs 1779.9 crore for December quarter, as compared to Rs 2103.3 crore for the same quarter a year ago. Total Income increased 8.4 per cent to Rs 10,093.2 crore from Rs 9,311 crore.

IOB Q3 net profit grew 24% YoY
Indian Overseas Bank net profit rose 24.88 per cent to Rs 308.19 crore for the quarter ended Dec 31, 2007 compared with Rs 246.78 crore in the same quarter of 2006. Total income increased 42.74 per cent to Rs 2,295.35 crore from Rs 1,608.07 crore a year ago.

Sun Pharma share up 6.6% as Q3 profit rises 109%
Sun Pharmaceuticals net profit rose 109.49 per cent to Rs 345.93 crore in the quarter ended Dec 31, 2007 compared with Rs 165.13 crore in the same quarter of 2006. Net sales increased 75.61 per cent to Rs 733.91 crore for the October-December quarter against Rs 417.91 crore in same quarter of previous year. The group's net profit grew 60.10 per cent to Rs 318.35 croe from Rs 198.85 crore a year ago. Net sales increased 48.87 per cent to Rs 803.97 crore against Rs 540.04 crore in the earlier year.

Bajaj Hindustan Q3 net profit up 71% YoY
Bajaj Hindustan’s net profit 71.70 per cent rose to Rs 29.67 crore in the quarter ended Dec 31, 2007 compared with Rs 17.28 crore in the same quarter of 2006. Net sales increased 19.99 per cent to Rs 286.64 crore from Rs 343.95 crore a year ago.

Mercator posts 98% surge in net for Q3
Domestic shipping line Mercator has registered a 98 per cent surge in net profit at Rs 58.72 crore for the third quarter as against Rs 29.69 crore in the same period last year. The company's operating profit grew by 113 per cent at Rs 160.54 crore during the period ending December 7, against Rs 75.44 crore in the corresponding period last year, Mercator said in a release. The company's income from operations in third quarter rose by 7 per cent to Rs 196.10 crore, against Rs 182.93 crore in the same period last year. Besides, Mercator Board has allowed raising 300 million dollars money through foreign currency convertible bonds or through GRD and ADR, the release added

MTNL Q3 net profit falls 97% YoY
Mahanagar Telephone Nigam net profit fell 53.19 per cent to Rs 97.64 crore for the quarter ended Dec 31, 2007 compared with Rs 208.60 crore for the same quarter ended in 2006. Total income decreased 7.08 per cent to Rs 1,326.91 crore from Rs 1428.03 crore a year ago.

Berger Q3 net rises 4.4 pc to Rs 23.25 crore

M&M Q3 net up 67%
Auto major Mahindra & Mahindra (M&M) on Wednesday posted 67.63 per cent increase in profit after tax at Rs 405.15 crore for the quarter ended December 2007, compared to Rs 241.68 crore for the same quarter in 2006. Total income of the company grew by 13.86 per cent to Rs 2,980.25 crore for the third quarter this fiscal from Rs 2,617.30 crore for the corresponding quarter of the previous fiscal, the company informed the BSE.

Bajaj Auto Q3 net down 5%
Bajaj Auto Ltd said on Wednesday its quarterly net profit fell 5 per cent, missing analyst forecasts, on volatile raw material costs and sluggish sales due to firm interest rates.
Its shares fell 6.5 per cent to Rs 2,223.95 in a weak Mumbai market.
Bajaj, which also makes scooters and leads the market for three-wheeled motorised rickshaws, said net profit fell to Rs 327 crore ($83 million) in the fiscal third quarter to Dec. 31 from Rs 345 crore reported a year earlier.
Consensus forecast for net profit was Rs 344 crore in a Reuters poll of 10 analysts.
Pune-based Bajaj sold 713,443 units in the December quarter, a 3.4 per cent fall from the same period a year earlier.

Hindustan Zinc Q3 net dips 41.20%
Hindustan Zinc Ltd has announced the following unaudited results for the quarter ended December 31, 2007:
The company has posted a net profit of Rs 785 crore for the quarter ended December 31, 2007 as compared to Rs 1335 crore for the quarter ended December 31, 2006. Total Income has decreased from Rs 2546 crore for the quarter ended December 31, 2006 to Rs 1769 crore for the quarter ended December 31, 2007.

Jindal Stainless Q3 net dips 55.24%
Jindal Stainless Ltd has announced the following unaudited results for the quarter ended December 31, 2007:
The company has posted a net profit after tax of Rs 50.6 crore for the quarter ended December 31, 2007 as compared to Rs 113.05 crore for the quarter ended December 31, 2006.



Tata Chemicals Q3 net dips 41.55%
Tata Chemicals Ltd has announced the following audited results for the quarter ended December 31, 2007: The company has posted a net profit after tax of Rs 125.48 crore for the quarter ended December 31, 2007 as compared to Rs 116.77 crore for the quarter ended December 31, 2006. Total income has decreased from Rs 1318.81 crore for the quarter ended December 31, 2006 to Rs 1236.52 crore for the quarter ended December 31, 2007.
The audited consolidated results are as follows: The group has posted a net profit after tax of Rs 91.09 crore for the quarter ended December 31, 2007 as compared to Rs 155.85 crore for the quarter ended December 31, 2006. Total income has decreased from Rs 1793.7 crore for the quarter ended December 31, 2006 to Rs 1712.67 crore for the quarter ended December 31, 2007.

Power Grid Corporation Q3 net up 13.9% at Rs 384.28 cr
Power Grid Corporation of India Ltd has announced the following unaudited results for the quarter ended December 31, 2007:
The company has posted a profit after tax of Rs 384.28 crore for the quarter ended December 31, 2007 as compared to Rs 337.27 crore for the quarter ended December 31, 2006. Total Income has increased from Rs 1004.80 crore for the quarter ended December 31, 2006 to Rs 1193.77 crore for the quarter ended December 31, 2007.


Merck Q4 net at Rs 68.82 cr
GMDC Q3 net up 77% at Rs 93.25 cr
JB Chemicals Q3 net dips 45.3%

Voltamp Transformers net up 118% at Rs 22.73 cr
Cummins India Q3 net up 18.63% at Rs 74.61 cr
IOB Q3 net up 24.88% at Rs 308.18 cr

Aditya Birla Nuvo Q3 net up 59.36% at Rs 84 cr
IndusInd Bank Q3 net up 15.76% at Rs 25.04 cr
Andhra Bank Q3 net up 16.68% at Rs 159.0207 cr

OBC Q3 net dips 24.08% at Rs 138.48 cr
Aurobindo Pharma Q3 net at Rs 55.25 cr
DLF Q3 net at Rs 2,145 cr
Lanco Infratech Q3 net up 32.69% at Rs 82.519 cr




Source: www.theeconomictimes.com and http://www.sify.com/finance . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Results: PGC, Hindalco, Cont.Corp, Mphasis, Gayathri Proj, Crompton, ICSA, SobhaDev etc

Power Grid net rises 3.51% in Dec `07 qtr
Power Grid Corporation, on quarter on quarter basis, disclosed a steady jump in net profit for the quarter ended in December 2007. During the quarter, the company experienced a 3.51% rise in profit to Rs 3,842.80 million from Rs 3,372.70 million in the quarter-ended September 2007.
Net sales for the quarter rose 4.97% to Rs 10,857.70 million compared with Rs 10,343.60 million in the previous quarter of the present year.


Hindalco Ind net down 15% in Dec`07 qtr

Hindalco Industries registered a 15.71% fall in net profit to Rs 5,427.00 million for the quarter ended December 2007 as compared with Rs 6,439.00 million for the corresponding quarter last fiscal.Net sales for the quarter fell 2.67% to Rs 45,317.00 million as against Rs 46,562.00 million for the same quarter a year ago.Total income for the quarter fell 1.45% to Rs 46,460 million as compared with Rs 47,146.00 million for the corresponding quarter last year.

Container Corporation of India net up 16% in Dec`07 qtr
Container Corporation Of India registered a growth of 16.46% in net profit to Rs 1,929.20 million for the quarter ended December 2007 as compared with Rs 1,656.40 million for the corresponding quarter last fiscal.Net sales for the quarter rose 12.85% to Rs 8,432.30 million as against Rs 7,472 million for the same quarter a year ago.

Mphasis net rises 4.82 times in Dec `07 qtr
Mphasis registered phenomenal jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 4.82 times rise in profits to Rs 658.60 million from Rs 136.52 million in the quarter ended December 2006.Net sales for the quarter rose 3.44 times to Rs 4,499.60 million compared with Rs 1,306.47 million in the corresponding quarter, a year ago.

Gayatri Projects net up 51.90% in Dec`07 qtr

Gayatri Projects disclosed a jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 51.90% rise in net profit to Rs 129.61 million as compared with Rs 85.36 million in the corresponding quarter, last fiscal.
Net sales for the quarter rose 33.64% to Rs 2,045.89 million compared with Rs 1,530.83 million for the same quarter, a year ago.

EIH net rises 16.75% in Dec`07 qtr
EIH registered steady jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 16.75% rise in profit to Rs 724 million from Rs 620.10 million in the quarter ended December 2006.
Net sales for the quarter rose 17.57% to Rs 3,086.10 million compared with Rs 2,624.90 million in the corresponding quarter, a year ago.

Dredging Corporation net drops 34.95% for Dec`07 qtr
Dredging Corporation of India registered a 34.95% fall in net profit to Rs 148.90 million for the quarter ended Dec. 31, 2007, from Rs 228.90 million in the corresponding quarter, last fiscal.
Net sales stood at Rs 1,482.50 million in the quarter ended Dec. 31, 2007, as against Rs 1,320.50 million in the same period last year, recording a growth of 12.27%.

Maytas Infra reports Rs 323.6 mn profit in Dec`07 qtr
Hyderabad-based Maytas Infra, a company engaged in infrastructure development, construction and project management, disclosed its first quarter results today after listing on the bourses. The company reported net profit of Rs 323.60 million, on net sales of Rs 4,643.50 million for the quarter ended December 2007. Total Income for the quarter stood at Rs 4,760.30 million.


Crompton Greaves net rises 49.49% in Dec`07 qtr
Crompton Greaves, registered a rise of 49.49% in net profit to Rs 679.00 million for the quarter ended December 2007 from Rs 454.20 million in the quarter ended December 2006.
Net sales for the latest quarter rose 22.98% to Rs 9,999.20 million compared with Rs 8130.40 million in the corresponding quarter, a year ago.

ICSA net up 99.83% in Dec`07 qtr
I C S A (India) registered a 99.83% growth in net profit to Rs 362.44 million for the quarter ended December 2007 as compared with Rs 181.37 million for the corresponding quarter, last year.Net sales for the quarter rose 99.43% to Rs 1,891.34 million as against Rs 948.37 million for the same quarter, a year ago.Total income for the quarter rose 2.02 times to Rs 1,922.15 million as compared with Rs 948.58 million for the corresponding quarter, last fiscal.


Sobha Developers net rises 33.70% in Dec`07 qtr
Sobha Developers registered a steady jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 33.70% rise in profit to Rs 611 million from Rs 457 million in the quarter ended December 2006

Simplex Projects net up 16% in Dec`07 qtr (Q-o-Q)
Simplex Projects posted a 16.34% growth in net profit at Rs 52.41 million for the quarter ended December 2007 as compared with Rs 45.05 million for the previous quarter ended September 2007.

Bharti Airtel consolidated net up 41.74% for Dec`07 qtr
Bharti Airtel, India`s top mobile operator, reported 41.74% increase in consolidated net profit, as per United States Generally Accepted Accounting Principles (US GAAP) rose to Rs 17,224.00 million for the quarter ended Dec. 31, 2007 as against Rs 12,151.30 million in the corresponding quarter, last year. Total income for the period in comparison rose 41.74% to Rs Rs 69,639.00 million, compared with Rs 49,129.20 million, last year.
On standalone basis, the company registered 36.04% growth in net profit to Rs 14,198.40 million for the quarter ended December 2007 as compared with Rs 10,436.90 million for the corresponding quarter, last fiscal.



Source: http://www.myiris.com . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

DCB, Teledata, KarnatakaBk, DCMshriram, DSKulkarni, GMDC, PhilipsCarbon, Bluestar, CUB, Kesoram, Hanungtoys, SCI, GPIL, AsianHotel,

Electrotherm India net profit rises 71.71% in the December 2007 quarter
Net profit of Electrotherm India rose 71.71% to Rs 19.73 crore in the quarter ended December 2007 as against Rs 11.49 crore during the previous quarter ended December 2006. Sales rose 81.85% to Rs 381.91 crore in the quarter ended December 2007 as against Rs 210.01 crore during the previous quarter ended December 2006.

Indo Asian Fusegear net profit declines 36.40% in the December 2007 quarter
Net profit of Indo Asian Fusegear declined 36.40% to Rs 2.83 crore in the quarter ended December 2007 as against Rs 4.45 crore during the previous quarter ended December 2006. Sales rose 23.98% to Rs 66.86 crore in the quarter ended December 2007 as against Rs 53.93 crore during the previous quarter ended December 2006.

Development Credit Bank net profit rises 828.16% in the December 2007 quarter
Net profit of Development Credit Bank rose 828.16% to Rs 25.71 crore in the quarter ended December 2007 as against Rs 2.77 crore during the previous quarter ended December 2006. Total operating income rose 62.54% to Rs 140.16 crore in the quarter ended December 2007 as against Rs 86.23 crore during the previous quarter ended December 2006.

Tele Data Informatics net profit rises 13.15% in the December 2007 quarter
Net profit of Tele Data Informatics rose 13.15% to Rs 92.82 crore in the quarter ended December 2007 as against Rs 82.03 crore during the previous quarter ended December 2006. Sales declined 14.37% to Rs 265.59 crore in the quarter ended December 2007 as against Rs 310.15 crore during the previous quarter ended December 2006.

Page Industries reports net profit of Rs 6.53 crore in the December 2007 quarter

Procter & Gamble Hygiene and Health Care net profit rises 53.60% in the December 2007 quarter

DCM Shriram Consolidated net profit rises 207.22% in the December 2007 quarter
Net profit of DCM Shriram Consolidated rose 207.22% to Rs 60.46 crore in the quarter ended December 2007 as against Rs 19.68 crore during the previous quarter ended December 2006. Sales declined 17.17% to Rs 662.86 crore in the quarter ended December 2007 as against Rs 800.27 crore during the previous quarter ended December 2006

Sujana Towers reports net profit of Rs 11.23 crore in the December 2007 quarter

Essel Propack net profit declines 11.57% in the December 2007 quarter

D S Kulkarni Developers net profit declines 11.66% in the December 2007 quarter
Net profit of D S Kulkarni Developers declined 11.66% to Rs 10.30 crore in the quarter ended December 2007 as against Rs 11.66 crore during the previous quarter ended December 2006. Sales rose 1396.97% to Rs 79.04 crore in the quarter ended December 2007 as against Rs 5.28 crore during the previous quarter ended December 2006.

Kaveri Seed Company reports net profit of Rs 1.55 crore in the December 2007 quarter

Karnataka Bank net profit rises 28.12% in the December 2007 quarter
Net profit of Karnataka Bank rose 28.12% to Rs 69.03 crore in the quarter ended December 2007 as against Rs 53.88 crore during the previous quarter ended December 2006. Total operating income rose 25.92% to Rs 405.46 crore in the quarter ended December 2007 as against Rs 321.99 crore during the previous quarter ended December 2006

Kalindee Rail Nirman (Engineers) net profit rises 66.76% in the December 2007 quarter

Gujarat Mineral Development Corporation net profit rises 77.08% in the December 2007 quarter
Net profit of Gujarat Mineral Development Corporation rose 77.08% to Rs 93.25 crore in the quarter ended December 2007 as against Rs 52.66 crore during the previous quarter ended December 2006. Sales rose 93.70% to Rs 257.23 crore in the quarter ended December 2007 as against Rs 132.80 crore during the previous quarter ended December 2006.

Ess Dee Aluminium net profit rises 147.80% in the December 2007 quarter
Net profit of Ess Dee Aluminium rose 147.80% to Rs 15.19 crore in the quarter ended December 2007 as against Rs 6.13 crore during the previous quarter ended December 2006. Sales rose 107.06% to Rs 61.89 crore in the quarter ended December 2007 as against Rs 29.89 crore during the previous quarter ended December 2006.

Walchandnagar Industries net profit rises 24.90% in the December 2007 quarter
Net profit of Walchandnagar Industries rose 24.90% to Rs 9.63 crore in the quarter ended December 2007 as against Rs 7.71 crore during the previous quarter ended December 2006. Sales rose 25.51% to Rs 155.98 crore in the quarter ended December 2007 as against Rs 124.28 crore during the previous quarter ended December 2006.

Pochiraju Industries net profit rises 8.93% in the December 2007 quarter

Phillips Carbon Black net profit rises 206.19% in the December 2007 quarter
Net profit of Phillips Carbon Black rose 206.19% to Rs 24.25 crore in the quarter ended December 2007 as against Rs 7.92 crore during the previous quarter ended December 2006. Sales rose 0.91% to Rs 274.81 crore in the quarter ended December 2007 as against Rs 272.32 crore during the previous quarter ended December 2006.

BF Utilities reports net profit of Rs 2.31 crore in the December 2007 quarter

Blue Star net profit rises 208.17% in the December 2007 quarter
Net profit of Blue Star rose 208.17% to Rs 35.44 crore in the quarter ended December 2007 as against Rs 11.50 crore during the previous quarter ended December 2006. Sales rose 39.11% to Rs 514.88 crore in the quarter ended December 2007 as against Rs 370.13 crore during the previous quarter ended December 2006.

City Union Bank net profit rises 83.12% in the December 2007 quarter
Net profit of City Union Bank rose 83.12% to Rs 25.38 crore in the quarter ended December 2007 as against Rs 13.86 crore during the previous quarter ended December 2006. Total operating income rose 55.77% to Rs 154.84 crore in the quarter ended December 2007 as against Rs 99.40 crore during the previous quarter ended December 2006.

Kesoram Industries net profit rises 64.26% in the December 2007 quarter
Net profit of Kesoram Industries rose 64.26% to Rs 107.41 crore in the quarter ended December 2007 as against Rs 65.39 crore during the previous quarter ended December 2006. Sales rose 37.90% to Rs 766.51 crore in the quarter ended December 2007 as against Rs 555.84 crore during the previous quarter ended December 2006.

Hanung Toys and Textiles net profit rises 104.38% in the December 2007 quarter
Net profit of Hanung Toys and Textiles rose 104.38% to Rs 16.78 crore in the quarter ended December 2007 as against Rs 8.21 crore during the previous quarter ended December 2006. Sales rose 60.39% to Rs 128.09 crore in the quarter ended December 2007 as against Rs 79.86 crore during the previous quarter ended December 2006.

Indo Tech Transformers net profit rises 67.86% in the December 2007 quarter


Visa Steel net profit rises 121.17% in the December 2007 quarter
Net profit of Visa Steel rose 121.17% to Rs 13.58 crore in the quarter ended December 2007 as against Rs 6.14 crore during the previous quarter ended December 2006. Sales rose 53.86% to Rs 196.31 crore in the quarter ended December 2007 as against Rs 127.59 crore during the previous quarter ended December 2006.

Shipping Corporation of India net profit declines 22.00% in the December 2007 quarter
Net profit of Shipping Corporation of India declined 22.00% to Rs 176.78 crore in the quarter ended December 2007 as against Rs 226.63 crore during the previous quarter ended December 2006. Sales declined 11.48% to Rs 915.27 crore in the quarter ended December 2007 as against Rs 1034.00 crore during the previous quarter ended December 2006.

Quintegra Solutions net profit rises 20.44% in the December 2007 quarter

Sical Logistics net profit declines 4.92% in the December 2007 quarter

Consolidated Construction Consortium reports net profit of Rs 19.17 crore in the December 2007 quarter

Advanced Micronic Devices net profit rises 1175.00% in the December 2007 quarter

JM Financial net profit rises 63518.66% in the December 2007 quarter

Piramyd Retail reports net loss of Rs 23.25 crore in the December 2007 quarter

Indian Hume Pipe Company net profit rises 209.52% in the December 2007 quarter
Net profit of Indian Hume Pipe Company rose 209.52% to Rs 5.20 crore in the quarter ended December 2007 as against Rs 1.68 crore during the previous quarter ended December 2006. Sales rose 25.29% to Rs 110.48 crore in the quarter ended December 2007 as against Rs 88.18 crore during the previous quarter ended December 2006.

Godrej Industries net profit rises 2.54% in the December 2007 quarter

Indbank Merchant Banking Services net profit rises 88.32% in the December 2007 quarter

KRBL net profit rises 3.10% in the December 2007 quarter

Essar Oil reports net loss of Rs 13.40 crore in the December 2007 quarter

Firstsource Solutions net profit declines 24.87% in the December 2007 quarter

Renaissance Jewellery reports net profit of Rs 6.67 crore in the December 2007 quarter

Godawari Power & Ispat net profit rises 82.02% in the December 2007 quarter
Net profit of Godawari Power & Ispat rose 82.02% to Rs 23.79 crore in the quarter ended December 2007 as against Rs 13.07 crore during the previous quarter ended December 2006. Sales rose 74.64% to Rs 217.44 crore in the quarter ended December 2007 as against Rs 124.51 crore during the previous quarter ended December 2006.

Asian Hotels net profit rises 94.97% in the December 2007 quarter
Net profit of Asian Hotels rose 94.97% to Rs 49.66 crore in the quarter ended December 2007 as against Rs 25.47 crore during the previous quarter ended December 2006. Sales rose 28.24% to Rs 145.25 crore in the quarter ended December 2007 as against Rs 113.26 crore during the previous quarter ended December 2006.



Source: http://www.capitalmarket.com . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Govt eases FDI caps in some sectors

Govt eases FDI caps in some sectors
Easier FDI norms likely for industrial parks
Media FDI norms up for review


NEW DELHI: Government on Wednesday approved easing caps on foreign investment in sectors such as civil aviation, petroleum and natural gas and commodity exchanges, Information and Broadcasting Minister Priyaranjan Dasmunsi said. "The union cabinet reviewed and approved foreign direct investment policy for further liberalisation in following sectors: civil aviation, petroleum and natural gas, commodity exchanges, credit information services, mining in titanium, industrial parks and construction and development," he told reporters.

"Details will be given shortly, he said. India hopes to attract foreign investment of $26 billion in the 2007/08 fiscal year that ends in March, substantially higher than $16 billion a year earlier. It approved an investment cap of 49 per cent in credit information companies, and said it would allow up to 100 per cent foreign direct investment in the mining of titanium-bearing minerals and ores. A limit of 74 per cent was imposed for investment in non-scheduled, chartered and cargo airlines.


Source: http://economictimes.indiatimes.com . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

29 India-based IT cos among world's best 100

29 India-based IT cos among world's best 100

Twenty-nine India-based companies have been listed among the best 100 IT service providers in a new survey, carried out with a view to assist business heads of major outsourcers identify reliable, innovative and tech savvy partners.
The toppers from each of the 10 categories that were identified included four companies each from India and the US and one company each from China and Mexico, said the survey by CyberMedia and Global Services Magazine.

They included India's Tata Consultancy Services [Get Quote], HCL Technologies [Get Quote], Genpact, WNS Global Services, America's EDS, Sitel, EPAM Systems and Computer Sciences Corporation, Mexico's Softtek and China's Neusoft, a release by Global Services Magazine said.
"The presence of four companies each from China and Malaysia, and three each from Russia and Brazil serves as a gentle reminder that these countries are emerging as viable outsourcing destinations," it said.

The year 2007 reported a total of 436 M&A deals in the services industry. Nearly one-third of the Global Services survey respondents said that they merged with or acquired one or more providers. Of these, 11 per cent confirmed acquisition of a consulting firm. The Indian service providers who derive between two-third to three-fourth of their revenues from the US are back to the drawing board to consider non-US avenues.

While many IT-services companies were looking towards Europe and Japan as potential markets, others have strengthened plans for servicing the maturing domestic Indian market, it said. India has emerged as the hub for global delivery with 57 per cent of the employees engaged in delivery centers located in India, followed by 18 per cent in the US.

Among the top ten winners would be the USD 4.3 billion software provider Tata Consultancy Services leading the list of best performing IT services companies. The best performing infrastructure service provider has gone to HCL Technologies, one of the earliest providers of Remote Infrastructure Management. The best performing BPO provider has gone to Genpact, which boasts over 30 delivery centers in the US, Mexico, India, China, Philippines, Romania and Hungary.

"With nearly one fourth of WNS Global Services' 17,000-employees working with FAO customers, it is not surprising to see this company top the best performing FAO providers list," the statement notes.

The title for the best performing Human Resources Outsourcing company goes to EDS, which was also listed among the top 10 best performing infrastructure service providers.
Infosys [Get Quote] Tech was listed among the top 10 in five categories.

The other companies to feature among the top firms across multiple categories include India's HCL Technologies with four and America's 24/7 Customer and Neoris, India's Genpact, EXL Services, Tata Consultancy Services and WNS Global Services and Philippines' SPi Technologies listed among top 10 in three categories.

Global Services has pointed out that the top 100 list and the ranks in the 10 categories are based on a scientific methodology, starting with the responses being clubbed under four broad buckets: Size (revenue, employee strength, geographies covered, etc.); customers; skills and others (attrition, training, etc.)

"The 2008 Global Services 100 represents the world's best providers of technology, customer service and business process services," said Pradeep Gupta Chairman of CyberMedia, publishers of the Global Services Magazine.



Other Rediff stories:

Y V Reddy on RBI's Credit Policy
FDI norms relaxed in civil aviation
Highlights of Credit Policy 2007-08



Source: http://www.rediff.com . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Sensex loses 333 pts at close

Sensex loses 333 pts at close


Save for a brief while this morning, when they edged up a bit, the benchmark indices Sensex and Nifty were seen struggling in the red right through the session today as weak global markets dampened the mood significantly. Investors were also reluctant to take positions ahead of the crucial US Federal Reserve meet today.

Though a few blue chip stocks rallied higher on selective buying support, the broad market never really looked capable of wriggling out of trouble this afternoon. So severe was the pressure that stocks cutting across sectors caved in meekly in late afternoon trade today.
While the Sensex ended the day with a loss of 333.30 points or 1.84% at 17,758.64, the Nifty lost 2.14% or 113.20 points as it settled at 5167.60.

Reliance Energy, the biggest loser in the Sensex today, went down by 5.4%. Hindustan Unilever lost 5.1%. ONGC, Reliance Communications, NTPC, Bajaj Auto and Reliance Industries lost 4% - 5%.

ICICI Bank, Tata Motors, DLF, Hindalco, Maruti Suzuki, Larsen & Toubro, Mahindra & Mahindra, Cipla and ITC ended lower by 1% - 2%. ITC, Satyam Computer Services, Grasim Industries, State Bank of India and Wipro also ended in the negative territory, albeit with less pronounced losses. Infosys Technologies, HDFC Bank and Ranbaxy Laboratories ended almost unchanged from their previous closing price.

BHEL (1.85%), HDFC (1.55%) and Tata Steel (1.05%) ended with sharp gains. Ambuja Cements and ACC moved up by 0.8% and 0.75% respectively. Tata Consultancy Services and Bharti Airtel gained marginal ground.

Suzlon Energy, Reliance Petroleum, BPCL, VSNL, ABB, Idea Cellular, Cairn India, Nalco, Siemens and GAIL India finished with sharp losses.

Sun Pharmaceuticals gained 8.75% on strong buying support thanks to a good show by the company in the October - December 2007 quarter. Zee Entertainment moved up by 4.35%. SAIL firmed up by 1.5%. Punjab National Bank and Tata Power posted modest gains.

Midcap and smallcap stocks were also hammered today. Reflecting the sell-off in these segments, the BSE Midcap and Smallcap indices drifted down by 2.4% and 2.22% respectively. The market breadth was weak. Out of 2787 stocks traded on BSE, 2018 stocks ended in the red. 726 stocks posted gains and 43 stocks ended at their previous closing levels.


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