Reliance in talks with HPCL, CPCL, KRL for D6 oil

Reliance in talks with HPCL, CPCL, KRL for D6 oil

Reliance Industries is in talks with state refiners for sale of crude oil it plans to start pumping from its eastern offshore KG-D6 block from next month. The company is in advanced talks with Hindustan Petroleum Corp, Chennai Refinery and Kochi Refineries for sale of 34,000 barrels per day of oil it will start producing from the gas-rich KG-D6 block on Krishna Godavari basin from September. "We do not intend to use the D6 oil in our Jamnagar refinery and are close to tying up sales with state-refiners," a company source said.

The company is investing USD 2.234 billion in developing the MA-1 and MA-2 oil fields in the predominantly gas-rich block. Oil reserves in the block are estimated at 53.5 million barrels and production will last 11 years, beginning with 20,000 bpd in first year and rising to 30,000 bpd in second year before beginning to decline.

Sources said the Aker Smart-1 floating production storage and offloading system (FPSO) is expected on the field any day now. It may take 4-6 weeks to install at the field and oil production will begin soon after. The FPSO, contracted for USD 733 million, will help eliminate the need for piping the oil to the shore for onward transportation to refineries.

Oil tankers can directly load at the FPSO and carry the oil to the destined refineries. Reliance is separately investing USD 5.2 billion in phase I of its gas field development plan, the first output of which is expected around the same time as oil.


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Stocks to watch: Elder Pharma
Stocks to watch: Jindal Saw
AnandRathi assigns 'buy' to Crompton Greaves; target Rs 320
Buy Punj Lloyd for target Rs 532: Sharekhan
ULJK assigns accumulate on Voltamp Transformers; target Rs 1025

Stocks to watch : Punjab National Bank
Stocks to watch: Panacea Biotec, Texmaco
MF Global Sify puts hold on VIP Industries
Sharekhan puts 'buy' on Aban Offshore; target Rs 4829


Source:ET, http://economictimes.indiatimes.com/headlines.cms

Results: Sesa Goa, Canara Bk, Union Bk, Dena Bk, CPCL, BRFL, Sun TV etc

Canara Bank Q3 rises 26.40% at Rs 458.80 cr
Canara Bank has recorded a net profit of Rs 458.83 crore for the third quarter ended December 2007, showing an increase of 26.40 per cent as compared to Rs 363.02 crore for the same quarter in December 2006.
Total revenue for the quarter has increased to Rs 4,096.60 crore from Rs 3,245.39 crore in the year-ago period.

Tanla Q3 net up 88% at Rs 44 cr
Tanla Solutions, a telecommunication software and service provider, has clocked a net profit of Rs 43.3 crore in the quarter ended December 2007, a rise of 87.8% against Rs 23 crore in the corresponding period previous year.

Union Bank Q3 net profit jumps 42.68%
Union Bank of India’s net profit for October-December rose 42.68 per cent to Rs 365.02 crore compared with Rs 255.84 crore in the corresponding quarter previous year.

Chennai Petroleum Q3 net profit up Rs 225.62 cr YoY
Chennai Petroleum Corporation’s October- December net profit rose 826.57 per cent to Rs 225.62 crore compared with Rs 24.35 crore for the same quarter of previous year.

BRFL Q3 net profit jumps 151.28%
Bombay Rayon Fashions’ October-December net profit rose 151.28 per cent to Rs 34.57 crore from Rs 13.76 crore in the corresponding quarter previous year. Net sales increased 81.40 per cent to Rs 238.75 crore for the quarter ended December against Rs 131.62 crore for the same quarter previous year.

Sun TV Q3 net profit up 71.16%
Sun TV Network’s October-December net profit rose 71.16 per cent to Rs 102.30 crore compared with Rs 59.77 crore for the same quarter previous year. Total income increased 85.56 per cent to Rs 231.99 crore for the quarter ended December against Rs 125.02 crore year ago.

Gujarat Ambuja Exports Q3 net profit up 111.34%
Gujarat Ambuja Exports’ October-December net profit rose 111.34 per cent to Rs 30.04 crore compared with Rs 14.21 crore in corresponding quarter pervious year.

D-Link Q3 net profit up 13.25% YoY
D-Link India’s October-December net profit 13.25 per cent to Rs 7.04 crore compared with Rs 6.22 crore for the same quarter of previous year. Total income increased 3.44 per cent to Rs 78.22 crore for the quarter ended December 31, 2007 agianst Rs 75.62 crore for the quarter ended December 2006.

PVR Q3 net up at Rs 6.11 cr
Finolex Q3 net dips 6%


Sterlite Technologies Q3 net zooms 105%
Sterlite Technologies reported a net profit of Rs 26.4 crore in Q3 FY08, up 105% against Rs 12.9 crore in the year-ago period. Its net revenues for the reporting quarter stood at Rs 502 crore against Rs 314 crore, a company statement on Tuesday said.

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BRPL Q3 net up 143.55% at Rs 84.90 cr
The company has posted a net profit of Rs 84.90 crore for the quarter ended December 31, 2007 as compared to Rs 34.86 crore for the quarter ended December 31, 2006. Total Income has increased from Rs 1384.90 crore for the quarter ended December 31, 2006 to Rs 1473.08 crore for the quarter ended December 31, 2007.

Mirc Electronics net down at Rs 8.90 cr
Ballarpur Industries Q2 net up 18.3% at Rs 74 cr
Polaris Software Q3 net down at Rs 19.11 cr

Dena Bank net up 43.30% at Rs 101 cr in Q3
Dena Bank has announced a net profit of Rs 101.07 crore for the third quarter ended December 2007 as compared to Rs 70.53 crore shown during the same quarter in 2006.
Total income for the quarter has increased to Rs 804.13 crore from Rs 685.89 crore in the year-ago period

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ETC Networks net profit rises 63.19% in the December 2007 quarter

Net profit of ETC Networks rose 63.19% to Rs 2.66 crore in the quarter ended December 2007 as against Rs 1.63 crore during the previous quarter ended December 2006. Sales rose 18.13% to Rs 13.55 crore in the quarter ended December 2007 as against Rs 11.47 crore during the previous quarter ended December 2006.

Agro Tech Foods net profit rises 27.78% in the December 2007 quarter
Fortis Healthcare reports net profit of Rs 1.61 crore in the December 2007 quarter
Mid-Day Multimedia net profit declines 55.20% in the December 2007 quarter

Euro Ceramics net profit rises 29.83% in the December 2007 quarter
Net profit of Euro Ceramics rose 29.83% to Rs 8.27 crore in the quarter ended December 2007 as against Rs 6.37 crore during the previous quarter ended December 2006. Sales rose 29.26% to Rs 58.49 crore in the quarter ended December 2007 as against Rs 45.25 crore during the previous quarter ended December 2006.

Shree Renuka Sugars net profit rises 248.72% in the December 2007 quarter
Net profit of Shree Renuka Sugars rose 248.72% to Rs 27.20 crore in the quarter ended December 2007 as against Rs 7.80 crore during the previous quarter ended December 2006. Sales rose 56.23% to Rs 191.70 crore in the quarter ended December 2007 as against Rs 122.70 crore during the previous quarter ended December 2006.

Bongaigaon Refinery & Petrochemicals net profit rises 143.55% in the December 2007 quarter
Hindustan Zinc net profit declines 41.20% in the December 2007 quarter
Artson Engineering net profit declines 61.26% in the December 2007 quarter
Ballarpur Industries net profit rises 7.32% in the December 2007 quarter

Monsanto India net profit rises 25.96% in the December 2007 quarter
Sterling Tools net profit rises 42.65% in the December 2007 quarter
Net profit of Sterling Tools rose 42.65% to Rs 3.01 crore in the quarter ended December 2007 as against Rs 2.11 crore during the previous quarter ended December 2006. Sales rose 10.69% to Rs 41.61 crore in the quarter ended December 2007 as against Rs 37.59 crore during the previous quarter ended December 2006.

Nagarjuna Fertilizers & Chemicals net profit rises 35.06% in the December 2007 quarter
Net profit of Nagarjuna Fertilizers & Chemicals rose 35.06% to Rs 5.47 crore in the quarter ended December 2007 as against Rs 4.05 crore during the previous quarter ended December 2006. Sales rose 28.02% to Rs 624.20 crore in the quarter ended December 2007 as against Rs 487.57 crore during the previous quarter ended December 2006.

Avaya GlobalConnect net profit declines 30.78% in the December 2007 quarter
MRO-TEK net profit rises 57.63% in the December 2007 quarter
PVR net profit rises 265.87% in the December 2007 quarter

Shriram Transport Finance Company net profit rises 86.03% in the December 2007 quarter
Net profit of Shriram Transport Finance Company rose 86.03% to Rs 107.10 crore in the quarter ended December 2007 as against Rs 57.57 crore during the previous quarter ended December 2006. Sales rose 70.24% to Rs 638.26 crore in the quarter ended December 2007 as against Rs 374.91 crore during the previous quarter ended December 2006

Empee Distilleries reports net profit of Rs 4.25 crore in the December 2007 quarter

Bank of Maharashtra net profit rises 35.06% in the December 2007 quarter
Net profit of Bank of Maharashtra rose 35.06% to Rs 100.38 crore in the quarter ended December 2007 as against Rs 74.32 crore during the previous quarter ended December 2006. Total operating income rose 39.23% to Rs 905.70 crore in the quarter ended December 2007 as against Rs 650.51 crore during the previous quarter ended December 2006.

Bank of Rajasthan net profit rises 112.66% in the December 2007 quarter
Net profit of Bank of Rajasthan rose 112.66% to Rs 42.15 crore in the quarter ended December 2007 as against Rs 19.82 crore during the previous quarter ended December 2006. Total operating income rose 37.31% to Rs 262.39 crore in the quarter ended December 2007 as against Rs 191.10 crore during the previous quarter ended December 2006.

Supreme Infrastructure India reports net profit of Rs 6.26 crore in the December 2007 quarter
Phoenix Mills net profit declines 62.74% in the December 2007 quarter
K Sera Sera Productions reports net profit of Rs 9.50 crore in the December 2007 quarter
Bombay Rayon Fashions net profit rises 151.24% in the December 2007 quarter

Sesa Goa net profit rises 152.75% in the December 2007 quarter
Net profit of Sesa Goa rose 152.75% to Rs 492.71 crore in the quarter ended December 2007 as against Rs 194.94 crore during the previous quarter ended December 2006. Sales rose 92.97% to Rs 1134.44 crore in the quarter ended December 2007 as against Rs 587.89 crore during the previous quarter ended December 2006.

RSWM net profit declines 95.60% in the December 2007 quarter
Gujarat Ambuja Exports net profit rises 111.40% in the December 2007 quarter
Religare Enterprises reports net profit of Rs 2.24 crore in the December 2007 quarter


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RSWM net profit declines 95.60% in the December 2007 quarterGujarat Ambuja Exports net profit rises 111.40% in the December 2007 quarterReligare Enterprises reports net profit of Rs 2.24 crore in the December 2007 quarter