Business Fwire News - Page 11

Bhel commissions 100 MW hydro project in Vietnam

According to the statement, the company is executing hydro projects in Rwanda, Afghanistan, Vietnam, DR Congo and Bhutan.

SpiceJet connects Guangzhou with Delhi in China debut

Expanding its international network, no-frill carrier SpiceJet will make its debut in the Chinese sky with the launch its service from here to Southern China's Guangzhou city from February.

Dabur Q3 net profit up 22% to Rs 211 crore

FMCG major Dabur India today said its consolidated net profit rose by 22.15 percent to Rs 211.11 crore for the third quarter ended December 31, 2012, over the same period in the previous fiscal.

Tata Teleservices' Q3 net loss widens to Rs 197 cr

Tata Teleservice (Maharashtra)today said its net loss has widened to Rs 197.16 crore in the three months ended December 2012, mainly due to foreign exchange related accounting adjustments and financing costs.

Cos facing probe allowed to tap ECBs via automatic route

As per earlier guidelines, corporates under investigation by any law enforcing agencies like Directorate of Enforcement (DoE) etc were not allowed to access ECB under the Automatic route.

Hinduja Group plans significant expansion in Africa

Global business conglomerate Hinduja group is planning to significantly expand presence in Africa in areas ranging from transport, infrastructure and coal

Padma award is for entire Brahmos team: Pillai

The BrahMos chief said the under water test of submarine version of the missile would be conducted in the end of February or early March.

ONGC Videsh wins award in Russia

ONGC Videsh, the overseas arm of state-owned Oil & Natural Gas Corp (ONGC), today said the De-Kastri oil terminal of its Sakhalin-1 oil and gas project in Russia has bagged the best oil terminal award of Russia.

Aurobindo Pharma gets USFDA nod for anti-bacterial injections

Drug firm Aurobindo Pharma today said it has received final approvals from the US health regulator to manufacture and market Oxacillin for Injection used for treating bacterial infections in the American market.

Ultratech Cement Q3 net dips to Rs 601 crore

Impacted by higher raw material and logistics costs, Ultratech Cement's third quarter net profit dipped marginally to Rs 601 crore, from Rs 617 crore in the same quarter last fiscal.

Property tax notice slapped on Wipro; co asked to pay more than Rs 19 crore

Bangalore civic authorities have sent a property tax notice to Wipro, asking the software major to pay dues of more than Rs 19 crore along with interest or face severe legal measures to recover them.

IDBI Bank Q3 net profit at Rs 417 cr

State-owned IDBI Bank today reported a marginal 1.7 percent increase in net profit at Rs 416.76 crore for third quarter ended December 31, 2012.

NMDC's production, sales dip over 13% in Apr-Dec

State-owned iron ore miner NMDC's production and sales took a beating by over 13 percent during the April-December period of the current fiscal.

Aurobindo gets USFDA approval for hypertension drug

Aurobindo Pharma today said it has received US health regulator's approval to market generic version of blood pressure lowering medicine Plendil Extended-release tablets in the American market.

Federal Bank Q3 net up 4% at Rs 211 crore

Private sector Federal Bank today reported 4.4 percent growth in net profit to Rs 210.78 crore for the third quarter ended December 31, 2012.

India aims to clock $15.5 bn pharma exports in FY13

India is aiming to export pharmaceutical products worth $15.5 billion in 2012-13 fiscal, a jump of around 17 percent compared to $13.22 billion in 2011-12, Ministry of Commerce and Industry Joint Secretary Mridul Jain said here today.

Sharma hopeful of FIPB nod for Ikea's proposal

Commerce and Industry Minister Anand Sharma on Thursday expressed the hope that the FIPB would clear the Swedish furniture major Ikea's proposal to set up cafeterias at its single-brand retail outlets.

Alcatel-Lucent wins $1 billion deal with RCom

Telecom equipment maker Alcatel-Lucent SA has won an eight-year contract valued at more than $1 billion to manage Reliance Communications mobile and fixed networks in the east and south of India.

Shriram Group to launch venture/angel fund for entrepreneurs

Shriram Group, the city-based diversified business conglomerate, is in "initial stage" of floating a venture capital fund and an angel fund for aspiring entrepreneurs, a top official said today.

Yes Bank Q3 net up by 35% to Rs 342 crore

Private lender Yes Bank today reported a 34.7 percent rise in its net profit at Rs 342.31 crore for the quarter ended December 2012, on the back expansion in net interest margin and non-interest income growth.

Bajaj Finserv Q3 net soars 46% to Rs 249 cr

Bajaj Finserv today reported a massive 46 percent rise in the net profit at Rs 249 crore in the October-December quarter driven by a strong showing of its life insurance, general insurance and non-banking financial services arms.

Mumbai telecoms license cost must come down: Telenor

India must significantly cut the price of mobile telephone licenses in the Mumbai region for Telenor to stay, Chief Executive Jon Fredrik Baksaas said on Tuesday.

Global VC funding in solar sector down 50% in 2012

Global venture capital (VC) investments in the solar sector last year were $992 million, down nearly 50 percent over 2011 to five year low.

Sebi clears Bajaj Finance rights issue to raise up to Rs 750cr

Market regulator Sebi has given its go-ahead to the non-banking finance company Bajaj Finance's proposed rights issue to raise up to Rs 750 crore.

JSW Steel Q3 production up 8% to 20.94 lakh tonnes

JSW Steel today reported a marginal growth of 8 percent in its crude steel production at 20.94 lakh tonnes in October-December amid issues like shortages of iron ore continuing to affect its performance.

Muthoot Finance Q3 net profit at Rs 270 crore

Muthoot Finance, Kerala based prominent gold financing company, today said it has registered Rs 270 crore as a profit after tax during the third quarter ending December of the 2012-13 fiscal.

Nagarjuna Fertilisers to spend Rs 4,500 crore on expansion

Nagarjuna Fertilisers and Chemicals Limited (NFCL), India's second largest urea player by volume, will spend Rs 4,500 crore on capacity expansion

Churchgate-Virar elevated rail corridor on track

The 60 km-long double track elevated corridor will have 28 stations and capacity of running eight-coach AC trains in each direction with 90 seconds frequency.

Now, strict anti-money laundering guidelines for casinos in Goa

Goa government has notified anti-money laundering and financing of terrorism guidelines, 2013 which will keep a strict check on casinos operating in the state so that they do not indulge in illegal money transactions.