Net profit of Tata Steel rose 10.98% to Rs 5201.74 crore on a 23.32% rise in sales to Rs 24024.45 crore in the year ended March 2009 over the year ended March 2008.
On a consolidated basis, the net profit declined 59% to Rs 4950.90 crore on a 11.80% increase in sales to Rs 147594.93 crore in the year ended March 2009 over the year ended March 2008.
Reliance Industries' gas production from its deep-sea field off India's east coast is reportedly below capacity as supply agreements with some buyers still need to be finalised. The firm is producing 28 million standard cubic metres a day (mmscmd) of gas from its field in Krishna Godavari Basin compared to a production capacity of 37 mmscmd, P M S Prasad, chief executive of Reliance's Oil and Gas business was quoted by media as saying on Thursday, 25 June 2009.
Tata Power Company, which supplies 500 megawatts of power to the Anil Dhirubhai Ambani group company Reliance Infrastructure's distribution area in Mumbai, has decided to discontinue the supply from 1 April 2010.
Meanwhile, Tata Power said on Thursday, 26 June 2009, it has entered into a memorandum of understanding with group firm Tata Steel to set up a 525 megawatt power plant in Netherlands.
The plant will be ready in 2013 and partly replace the existing power supply agreement with another utility, a statement from the firm said.
Videocon group chairman and managing director Venugopal Dhoot said in television interview that plans to sell his 3% personal stake in Great Offshore to ABG Shipyard, which is controlled by Rishi Agarwal. However, Dhoot did not give details of the price at which he will sell it to the shipbuilder.
Unitech has reportedly sold one of its school plots in Gurgaon, near Delhi to Dubai-based GEMS Education for Rs 26 crore. Both the companies are also in talks for four more school plots, valued at Rs 80 crore, in the National Capital Region.
Sobha Developers is reported to be in talks with private equity firms, including JP Morgan, Actis and IL&FS, for selling stakes in some of its projects to raise funds.
The union revenue department has reportedly raised objections to an application by United Breweries (Holdings) seeking approval for raising Rs 708 crore by issuing convertible warrants to FirStart Inc, owned by UB group promoter Vijay Mallya's mother and based in British Virgin Islands.
GAIL India will invest Rs 7500 crore in pipelines across southern India. The company had received approval for laying the pipelines from the petroleum ministry in July 2007.
Tata Motors, Glenmark Pharmaceuticals, TVS Motor Company, Gujarat State Petronet, Great Offshore, Ansal Housing, FACT, BEML, Max India, Pyramid Saimira, Deccan Chronicle, Provogue, Aries Agro Industries, and Archies, among others will declare theie March 2009 ended quarter results today, 26 June 2009.
Powered by Capital Market - Live News