Archive for April, 2010

UCO Bank’s net profit spikes up by 270% for the quarter ended March 31, 2010

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UCO bank reports audited results for the quarter and year ended March 31, 2010.The results for the quarter ended March 31, 2010:UCO Bank’s net profit has surged by 270.32% to Rs 379.80 crore for the quarter ended March 31, 2010 as compared to Rs 102.56 crore for quarter ended March 31, 2009. While, the total Income of the company has increased by [...]

Dredging Corporation inks pact with IHC Dredgers

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Dredging Corporation of India (DCI) has entered into an agreement with Netherlands-based — IHC Dredgers BV — for designing, construction and delivery of two trailer suction hopper dredgers each at a total cost of about Rs 900 crore.With the addition of these dredgers, the fleet of trailer suction hopper dredgers of the [...]

Kirloskar Oil Engines allots 97,08,650 equity shares to Kirloskar Engines India

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Kirloskar Oil Engines, which is the demerged company has issued and allotted 97,08,650 equity shares of Rs 10  each of the Company  to Kirloskar Engines India (Resulting Company)  which aggregates to Rs 9,70,86,500 on account of reduction and consolidation against Subscribed 19,41,73,000 Equity Shares as on Appointed Date April 01, 2009. This approval is pursuant to Scheme of Arrangement between Kirloskar Oil Engines and Kirloskar Engines India. Wherein, arrangement [...]

Welspun Gujarat’s subsidiary acquires 43% stake of MSK Projects India

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MSK Projects India has issued and allotted 1, 71, 78,888 fully paid-up equity shares of face value of Rs 10 each to Welspun Infratech  ,which represents  42.95% of the equity share capital of the company for cash at a price of Rs 123  per equity share (including premium of Rs 113 per [...]

Nifty starts May series on a positive note

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Local equity markets witnessed another positive session of trade on Friday tracking positive Asian markets and an improved economic scenario in the euro zone. As hopes for the Greece relief package brightened, global equity markets smoothened a bit on Friday. Back home, the earnings results declared by many of the Indian companies were more or less in line with the expectations which enabled the benchmark indices to hold [...]

Bharat Electronics net profit plunges by 64% for the quarter ended March 31, 2010

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Bharat Electronics reports results for the quarter & year ended March 31, 2010The Unaudited results for the Quarter ended March 31, 2010Bharat Electronics net profit has plunged by 64.30% to Rs 199.74 crore for the quarter ended March 31, 2010 as compared to Rs 559.44 crore for the quarter ended March 31, 2009.While, the total income of the company decreased [...]

Markets manage a close with modest gains

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The domestic markets managed a positive close on Friday despite some choppiness towards the end of the session. The markets started on a firm note tracking the gains in the global markets as the Greece debt crisis seemed heading towards a conclusive solution and the investors across the globe were trying to concentrate on the domestic issue. Back home the mood at the start was pretty good for [...]

Indian Oil commissions Naphtha Cracker Plant at Panipat

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PSUs refining and marketing giant, Indian Oil Corporation (IOC), commissioned world scale Naphtha Cracker Plant alongwith downstream polymer units at Panipat, Haryana.The said petrochemical complex comprises Naphtha Cracker unit to produce 857 KTA of polymer grade ethylene and 660 KTA polymer grade propylene, polypropylene unit for production of 600 KTA polypropylene, swing unit of 350 KTA [...]

Corporation Bank raises Rs 550 crore

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Corporation Bank has raised Rs 550 crore through issue of Tier-II Bonds Series (I) (7) and the same allotted on April 29, 2010 to the respective applicants in demat mode and credited to their respective client IDs.The bank is targeting a loan growth of 25% during FY11 and hopes to maintain a net interest margin of 2.55-2.6%.Click here [...]

Asian markets shut shop mostly in the green on Friday

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All Asian markets barring Taiwan Weighted finished in the positive terrain on the last trading day of the week as Wall Street ended on a strong note on Thursday. The concern over Greece???s problem eased after Greek Government has agreed the draft outline of a ???24 billion (??21 billion) rescue package, which is expected to include savage cuts in Civil Service wages and state benefits along with hefty [...]