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Popular Articles

RIL Haryana SEZ among 11 asked to seek fresh licence
The Centre has refused to extend the in-principle approvals to as many as 11 SEZ projects, including the Mukesh Ambani-promoted Reliance Haryana SEZ, Posco India and Indiabulls Infrastructure, stating that the rules do not allow giving them more time for implementation.

Bengal okays creation of 606 new posts
The West Bengal cabinet in a meeting today okayed creation of 606 new posts and filling up of 264 vacancies in different departments, the state"s finance minister, Asim Dasgupta, said.

News of the day

Tech Mahindra: Forex gains
The September 2009 quarter results of leading IT players suggest that the global telecom industry is not out of the woods. Indicatively, Infosys and TCS‘ telecom segments’ share in overall revenues posted a decline of 60-70 bps sequentially — even on an absolute basis, their telecom-vertical revenues were lower sequentially. Given the muted outlook for the telecom sector, the topline and operating performance of Tech Mahindra, which derives 60 per cent from Europe and about 50 per cent from its major client, British Telecom (BT), is reasonably good.
International Business

Cairn India Q3 net up 23% to Rs 291 cr

Buoyed by ramping up output from Barmer oilfield, Cairn India today reported a 23 per cent rise in net profit to Rs 291 crore in the third quarter. - BPCL Q3 profit declines 52% to Rs 379 cr - Central Bank Q3 dips 13% to Rs 306 cr - Bank of India Q3 net dips 53% to Rs 405 cr - Marico Q3 net up 22% at Rs 62 cr - Oriental Bank Q3 net up 15% to Rs 289 cr - DLF"s net profit dips 30% The company had a net profit of Rs 290.96 crore in October-December compared with Rs 236.42 crore in the corresponding period previous fiscal, Cairn said in a press statement. Cairn started output from Mangala - the nation"s largest onland oil find in more than two decades in late August 2009, and is currently producing about 20,000 barrels a day. Turnover more than doubled to Rs 495.46 crore from Rs 210.82 crore a year ago. Cairn said it sold four parcels of Barmer crude to Mangalore Refinery and Petrochemicals and two parcels to Reliance Industries in the quarter. "Trial parcels to Indian Oil Corp (the third buyer) will commence soon," it said. The company, which currently trucks the oil to Gujarat coast, has laid a pipeline from Mangala to Salaya in Gujarat. Commissioning of the pipeline, by next quarter, would bring down the transportation cost. Cairn India Chief Executive Officer and Managing Director Rahul Dhir said: "The construction of the crude oil pipeline from Mangala Process Terminal to Salaya is a significant achievement. This pipeline will provide the critical infrastructure needed to connect the oil fields in the Barmer basin to the markets."


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