Archive for July, 2010

California Software to dispose off its labs business undertaking

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California Software Company???s board has decided to dispose of the labs business undertaking comprised of its investment in India and USA and business units in Chennai and Bangalore. The disposal will facilitate the company to focus and expand on its enterprise solutions and strategic investment divisions. The board gave its approval at its meeting held on [...]

Nihar Info Global to incorporate a subsidiary company

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Nihar Info Global???s board has approved the formation of a subsidiary to focus on manufacturing of Solar PV and generation of Solar power and other activities related to power sector.The board gave its approval at its meeting held on July 31, 2010.Recently, the company received a work order from Andhra Pradesh Industrial Infrastructure Corporation (APIIC), Hyderabad.Nihar [...]

Gujarat Narmada Valley to transfer its V-SAT/ISP Gateway Business to ING Satcom

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Gujarat Narmada Valley Fertilizers Company???s board has given its approval for transfer of V-SAT/ISP Gateway Business of GNFC to ING Satcom, an unlisted company through scheme of arrangement and de-merger against cash consideration of Rs 6 crore. The board gave its approval at its meeting held on July [...]

Bajaj Corp to enter into the capital market with an IPO of 45, 00,000 equity shares

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Bajaj Corp is enter into the capital market with an initial public offering (IPO) of 45,00,000 equity shares of Rs 5 each in a price band Rs 630-660 per equity share. The issue will open on August 2, 2010 and will close on August 5, 2010. The issue, which will be through a 100% book building process, will constitute 15.30% of the post-issue paid-up equity capital of the [...]

Grasim Industries Q1 net profit drops by 47%

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Grasim Industries has reported results for the quarter ended June 30, 2010.Grasim Industries??? net profit has plunged by 46.75% to Rs 575.06 crore for the quarter ended June 30, 2010 as compared to Rs 1080.03 crore for the quarter ended June 30, 2009. Its total income has declined marginally by 0.55% to Rs 5214.94 crore for the quarter whereas the [...]

Torrent Power???s net profit more than doubles for Q1

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Torrent Power has reported results for the quarter ended June 30, 2010.Torrent Power???s net profit has zoomed by 225.74% to Rs 304.41 crore for the quarter ended June 30, 2010 as compared to Rs 93.45 crore for the quarter ended June 30; 2009.Its total income has grown by 46.05% to Rs 1843.86 crore for the quarter under review as compared [...]

IOB???s Q1 net profit plummets 34%

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Indian Overseas Bank (IOB) has reported resulted for the quarter ended June 30, 2010.Indian Overseas Bank???s net profit has plunged by 33.58% to Rs 200.44 crore for the quarter ended June 30, 2010 as compared to Rs 301.77 crore for the quarter ended June 30, 2009.Its total income has grown by 2.63% to Rs 2882.38 crore [...]

Menon Pistons to expand its foundry division

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Menon Pistons has received its board???s approval for expansion of its foundry division, as part of its endeavour towards assimilating and adapting latest technology to serve the customers and market demand. The board gave its approval at its meeting held on July 31, 2010.The existing small division of 300 MT / Month capacity is proposed to be developed into a [...]

ICICI Bank???s Q1 net up by 17%

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ICICI Bank has reported results for the quarter ended June 30, 2010.ICICI Bank???s net profit has surged by 16.82% to Rs 1025.98 crore for the quarter ended June 30,2010 as compared to Rs  878.22 crore for the quarter ended June 30, 2009. Its total income has declined from 18.76% to Rs 7493.05 crore for the quarter ended June 30, 2010 [...]

Syndicate Bank???s Q1 net profit grows marginally by 1%

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Syndicate Bank has reported results for the quarter ended June 30, 2010.Syndicate Bank???s net profit has grown marginally by 1.45% to Rs 265.36 crore for the quarter ended June 30, 2010 as compared to Rs 261.56 crore for the quarter ended June 30, 2009.Its total income has declined by 5.21% to Rs 28197.30 million for the quarter under review as [...]