Chennai : The city-based Indian Bank has plans to expand
its distribution reach within and outside India by adding new branches,
ATMs and increasing the headcount by 1,000, a top bank official Saturday
said.
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Saturday, July 24
Indian Bank to open more branches in and outside India
by
Bhavesh
on Sat 24 Jul 2010 06:47 PM IST
Royalties, weak euro hit profits at Maruti
by
Bhavesh
on Sat 24 Jul 2010 05:23 PM IST
Maruti Suzuki , India's top carmaker, reported a surprise 20 percent
fall in net profit in the quarter to June, hit by high raw material
costs, an increase in royalty payments, and a weakening of the euro
which hurt export revenues.
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8,000 low-cost homes lost
by
Bhavesh
on Sat 24 Jul 2010 03:23 PM IST
Mumbai : Chief Minister Ashok Chavan's offer to purchase the
eight-acre Bharat Processing Mills at Worli from National Textile
Corporation (NTC) to build low-cost houses has been turned down. With
this, the hope that 8,000 affordable houses would come up in central
Mumbai has been dashed.
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PMEAC expects tough action by RBI to rein in inflation
by
Bhavesh
on Sat 24 Jul 2010 01:51 PM IST
At current levels, inflation is the main obstacle in the buoyant growth
of the country, pointed out the Prime Minister's Economic Advisory
Council (PMEAC) today while releasing the Economic Outlook for 2010-11.
The PMEAC has raised concerns over the double-digit inflation rate and
expects a tough monetary actions by the apex bank during the year to
rein in inflationary pressures.
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Air India seeks a second lifeline of Rs 1,200 cr from bailout package
by
Bhavesh
on Sat 24 Jul 2010 01:36 PM IST
Beleaguered flag carrier Air India has prepared the ground to seek
release of the second installment of the earlier approved Rs 5,000-crore
bailout package from the government. The company is set to approach the
Centre following its board meeting on Sunday to seek another Rs
1,200-crore infusion. The airline has said without fresh funds, its
projected accumulated losses would be around Rs 17,000 crore by 2013,
from the present Rs 12,000 crore.
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Bhel Q1 profit jumps 42% at Rs 667 crore
by
Bhavesh
on Sat 24 Jul 2010 01:33 PM IST
Public sector power equipment supplier Bhel said on Friday that its net
profit in the first quarter of the current financial year was 42 per
cent higher compared with the corresponding period of the previous year.
During the same period, its total income grew 17 per cent.
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Essar to receive Rs 3,400 cr more for Vodafone stake
by
Bhavesh
on Sat 24 Jul 2010 01:30 PM IST
The Essar group will get another Rs 3,400 crore (510 million pounds) in
addition to the market price if the Ruias exercise the put option for
their 33 per cent stake in Indian joint venutre Vodafone Essar Ltd.
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HPCL refuses to sell fuel on credit to Kingfisher
by
Bhavesh
on Sat 24 Jul 2010 01:21 PM IST
Refusing to toe the petroleum ministry's line, loss-stricken Hindustan
Petroleum Corp (HPCL) has declined to reopen a credit line for the
debt-stricken Kingfisher Airlines. On July 16, the ministry wrote to
HPCL that "the Board may be advised to consider a review of
cash-and-carry system as a temporary measure considering the fact that
it may not be in the country's interest if an airline is grounded".
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Wipro net profit up 31% at Rs 1.3k cr on better demand
by
Bhavesh
on Sat 24 Jul 2010 01:19 PM IST
Wipro, the country's third largest software services exporter, has
reported a net profit of Rs 1,318.6 crore for the first quarter, up 31
per cent compared with the corresponding quarter of the previous fiscal.
The company attributed the growth to a better demand environment which
helped it withstand headwinds in the form of wage hikes and a decline in
price realisation.
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