COMPANIES & SECTORS


MDT/PTI 22 January 2013
During the December quarter, Hindustan Unilever’s net sales rose to Rs6,433.69 crore from Rs5,844.31 crore a year ago period   New Delhi: Fast-moving consumer goods (FMCG) company Hindustan Unilever (HUL) on Tuesday reported a 15.6% jump in net profit to Rs871.36 crore for the third...

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MDT/PTI 22 January 2013
ITC got possession of 39 acres at Panchla in Howrah district where it would build an integrated food and consumer goods facility and would invest Rs1,000 crore in the foods and consumer goods segment in the state over two-three years   Kolkata: Cigarettes-to-hotels conglomerate ITC...

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MDT/PTI 22 January 2013
SEBI had conducted a probe with regard to the various price sensitive disclosures made by Suzlon between 3rd November and 2nd December 2009. The investigations revealed that Bakshi had indulged in opposite transactions in Suzlon shares   Mumbai: Market regulator Securities and...

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MDT/PTI 22 January 2013
Prior to joining Union Bank, Mundra was the chief executive of BoB’s European operations based in London   New Delhi/Mumbai: The finance ministry has cleared the name of Union Bank executive director SS Mundra as the new chairman and managing director (CMD) of Bank of Baroda (BoB),...

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Moneylife Digital Team 21 January 2013
Fuel pricing reforms are a must, and these look unlikely in the near term, says Nomura Equity Research Public sector oil companies (oil PSUs) have seen sharp upward moves and large volatility in the stock market over the last few days. This is an over-reaction. The diesel price...

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MDT/PTI 19 January 2013
General insurers, both from private and public sector, had reportedly approached IRDA for 10%-40% revision in health insurance tariff to protect losses Kolkata: State-run National Insurance Company (NIC) may soon increase the cost of health insurance premium to offset losses, reports PTI...

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MDT/PTI 19 January 2013
“They are short in solvency and losing money on underwriting. I think insurers will wait for some more time, may be one or two more years till finances improve,” GIC chairman & managing director Ashok K Roy said Kolkata: Non-life insurers are unlikely to hit the capital market to raise...

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MDT/PTI 19 January 2013
The airline owes close to Rs1,800 crore in salary dues, tax arrears and vendor/lessor fees and airport charges. It is also saddled with over Rs7,500 crore in bank debt and over Rs8,000 crore in accumulated losses Mumbai: A meeting between the core lenders group and the grounded...

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MDT/PTI 18 January 2013
RIL, which operates the world's biggest refining complex at Jamnagar in Gujarat, earned $9.6 on turning every barrel of crude oil into fuel in the quarter, compared to $6.8 per barrel gross refining margin in the same period a year ago New Delhi: Reliance Industries (RIL), India's...

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MDT/PTI 18 January 2013
The diesel hike comes at a time when the Railways is facing an acute financial crunch. Earnings from passengers and freight have failed to meet the target in the current fiscal   New Delhi: The diesel price hike has put an additional burden of around Rs2,700 crore a year on the cash-...

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MDT/PTI 18 January 2013
Net interest income of the bank for the December quarter stood at Rs3,798.9 crore, a growth of 21.9%, mainly on account of increased loan book   Mumbai: Private sector HDFC Bank today reported a 30% jump in net profit at Rs1,859.07 crore for the October-December quarter of the current...

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MDT/PTI 18 January 2013
The total FMCG net revenue during the quarter stood at Rs5,440.06 crore with the cigarettes category accounting for Rs3,657.36 crore   New Delhi: Diversified group ITC today reported a 20.62% rise in its standalone net profit at Rs2,051.85 crore for the third quarter ended 31 December...

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MDT/PTI 18 January 2013
Nokia, which in June 2012 had had announced slashing of up to 10,000 jobs globally by the end of 2013, said these are the last anticipated reductions as part of its focused strategy announcement   New Delhi/Helsinki: Nokia on Thursday said it will outsource the IT function to Indian...

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MDT/PTI 18 January 2013
Wipro expects its revenues from IT services business to be in the range of $1.585 billion to $1.625 billion for the quarter ended 31 March 2013 Mumbai: Wipro, the country’s third largest software services firm, today reported 18% rise in its consolidated net profit to Rs1,716.4 crore for...

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MDT/PTI 17 January 2013
Hero MotoCorp managing director & chief executive officer Pawan Munjal said: “The last two quarters have been challenging for the Indian auto industry on account of the delayed monsoons, rising fuel prices and subdued sentiments”   New Delhi: Hero MotoCorp, the country’s largest...

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MDT/PTI 17 January 2013
The German sportswear major has brought in Erick Haskell, ex-COO of its China operations, to head the business here as it looks to move on after last year’s alleged Rs870 crore fraud at its arm, Reebok India   New Delhi: German sportswear major Adidas group today announced a top...

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Moneylife Digital Team 17 January 2013
The Indian sugar industry is once again in the spotlight despite higher sugar production as losses mount due to higher imports, especially from Pakistan The misery and woes of the Indian sugar industry continues as the industry is facing fresh losses despite record production. This puts...

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MDT/PTI 17 January 2013
Indian Overseas Bank will have access to a full suite of solutions to support its global cross-currency payable and receivable flows through Deutsche Bank’s cross currency payment solution FX4Cash   Chennai: Public sector Indian Overseas Bank (IOB) has inked a memorandum of...

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MDT/PTI 17 January 2013
Reduction in the reserve price of CDMA spectrum may help companies like Sistema of Russia to bid in the auction and make up for the ones they lost when the Supreme Court cancelled 122 licences in February last year   New Delhi: The government of India on Thursday approved a 50%...

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MDT/PTI 17 January 2013
Earlier this week, agriculture minister Sharad Pawar, finance minister P Chidambaram and food minister KV Thomas reviewed the edible oil imports and discussed the issue of raising the duty on edible oil   New Delhi: The government today imposed 2.5% import duty on crude edible oil to...

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