Cochin Shipyard bags ‘MOU Excellence Award’
KOCHI: Cochin Shipyard Ltd (CSL) has been conferred with the MOU Excellence Award to fecilitate the PSU’s performance during 2008-09.
The award was presented by the Prime Minister, Dr Manmohan Singh, to the company’s officiating Chairman and Managing Director and Director (Operations), Mr K. Subramaniam, at a function in New Delhi on Wednesday.
According to a company press release, CSL has witnessed record growth in the last five years. Income from ship-building increased 4.5 times from Rs 222 crore in 2005-06 to Rs 1,012 crore in 2009-10.
Similarly, its total turnover increased almost four-fold from Rs 370 crore to Rs 1,200 crore. Net profit increased 12 times from Rs 18 crore to Rs 223 crore, the release said. — PTI
Thursday, December 16, 2010
Tuesday, December 14, 2010
WPI inflation dips to 7.48% in Nov
WPI inflation dips to 7.48% in Nov
NEW DELHI: Continuing with its trend towards moderation, inflation declined to 7.48 per cent in November, mainly boosted by lowering of pressure on certain food items. In October, the inflation stood at 8.58 per cent and in November 2009, it was at 4.5 p er cent.
For September, the inflation figure has been revised upwards to 8.93 per cent from the provisional number of 8.62 per cent. This is the fourth consecutive month when the overall inflation has been in the single digit. It had remained over 10 per cent for six months till July.
As per the Wholesale Price Index data, prices of primary articles — food, non-food articles and minerals — shot up by 13 per cent on an annual basis.
However, prices of certain food items declined on a year-on-year basis. While wheat became cheaper by 1.49 per cent, pulses fell by 8.37 per cent and vegetables overall went down by 4.59 per cent.
During the month, fuel and power prices went up by 10.32 per cent, while manufactured goods became expensive by 4.56 per cent. Manufactured items have the highest weight of 64.9 per cent in the WPI, on the basis of which inflation is calculated.
Within manufactured products, sugar prices eased by 10.97 per cent and leather and leather goods by 1.77 per cent.
The latest figure bears out the projection of the Chief Economic Advisor, Mr Kaushik Basu, who had earlier this month said that inflation in November will be down to 7.5 per cent. The Government also expects the inflation to moderate to 6 per cent by the end of the fiscal.
“Inflation is coming down. Now it is at the single digit but I would like it to be further reduced. I am hoping that by March it would be around 6 per cent, but it should come down further,” the Finance Minister, Mr Pranab Mukherjee, told reporters after tabling the Mid-Year Analysis of the Economy in Parliament earlier this month. — PTI
NEW DELHI: Continuing with its trend towards moderation, inflation declined to 7.48 per cent in November, mainly boosted by lowering of pressure on certain food items. In October, the inflation stood at 8.58 per cent and in November 2009, it was at 4.5 p er cent.
For September, the inflation figure has been revised upwards to 8.93 per cent from the provisional number of 8.62 per cent. This is the fourth consecutive month when the overall inflation has been in the single digit. It had remained over 10 per cent for six months till July.
As per the Wholesale Price Index data, prices of primary articles — food, non-food articles and minerals — shot up by 13 per cent on an annual basis.
However, prices of certain food items declined on a year-on-year basis. While wheat became cheaper by 1.49 per cent, pulses fell by 8.37 per cent and vegetables overall went down by 4.59 per cent.
During the month, fuel and power prices went up by 10.32 per cent, while manufactured goods became expensive by 4.56 per cent. Manufactured items have the highest weight of 64.9 per cent in the WPI, on the basis of which inflation is calculated.
Within manufactured products, sugar prices eased by 10.97 per cent and leather and leather goods by 1.77 per cent.
The latest figure bears out the projection of the Chief Economic Advisor, Mr Kaushik Basu, who had earlier this month said that inflation in November will be down to 7.5 per cent. The Government also expects the inflation to moderate to 6 per cent by the end of the fiscal.
“Inflation is coming down. Now it is at the single digit but I would like it to be further reduced. I am hoping that by March it would be around 6 per cent, but it should come down further,” the Finance Minister, Mr Pranab Mukherjee, told reporters after tabling the Mid-Year Analysis of the Economy in Parliament earlier this month. — PTI
Monday, December 13, 2010
TVS Motors plans to hike Hosur plant capacity
TVS Motors plans to hike Hosur plant capacity
CHENNAI: The country’s second largest two-wheeler manufacturer TVS Motor Company plans to ramp up its manufacturing facility at Hosur in Tamil Nadu as part of meeting the “huge” demand for its scooterette Wego.
“Tamil Nadu is the largest market for us. We plan to launch Wego in Tamil Nadu market by January or February 2011,” the company President (Marketing and Sales), Mr H.S. Goindi,told PTI.
Currently, Wego is not available in Tamil Nadu and some eastern regions of the country.
He said the company would increase the capacity from 12,000 units to 20,000 units. “The capacity will be increased at the Hosur plant particularly for Wego...” he said, declining to elaborate on the proposed investments for increasing the capacity. — PTI
CHENNAI: The country’s second largest two-wheeler manufacturer TVS Motor Company plans to ramp up its manufacturing facility at Hosur in Tamil Nadu as part of meeting the “huge” demand for its scooterette Wego.
“Tamil Nadu is the largest market for us. We plan to launch Wego in Tamil Nadu market by January or February 2011,” the company President (Marketing and Sales), Mr H.S. Goindi,told PTI.
Currently, Wego is not available in Tamil Nadu and some eastern regions of the country.
He said the company would increase the capacity from 12,000 units to 20,000 units. “The capacity will be increased at the Hosur plant particularly for Wego...” he said, declining to elaborate on the proposed investments for increasing the capacity. — PTI
Thursday, December 9, 2010
Rallis picks up majority stake in Metahelix for Rs 100 cr
Rallis picks up majority stake in Metahelix for Rs 100 cr
NEW DELHI: Tata Group firm Rallis India has said that it has acquired majority stake in Bangalore-based seed research firm Metahelix Life Sciences for nearly Rs 100 crore in what was an all-cash deal.
With the signing of this deal, the company has announced its foray into seeds business, which is a key focus area of the firm under its growth agenda, the company said in a filing to the Bombay Stock Exchange on Thursday.
“Metahelix Life Sciences is the company’s first inorganic foray in the seeds space providing a strong platform in the entire value chain that comprises breeding, production and marketing of seeds,” the filing said.
Rallis, which has bought 53.5 per cent stake in the Bangalore-based firm for Rs 99.5 crore, will infuse another Rs 25 crore to increase its stake to 59.02 per cent. Further, pursuant to the terms of definite agreement, signed between both the companies, the company will enhance its shareholding in Metahelix to 100 per cent over a period of five years.
Elaborating on the business prospects of the acquisition, the Rallis India Managing Director and CEO, Mr V. Shankar, said: “We believe that revenues from the entity will exceed Rs 1,000 crore, cumulatively, over a five-year period.”
Rallis India is a subsidiary of Tata Chemicals, engaged in the manufacturing of crop protection chemicals.
Metahelix Life Sciences boasts of a good product portfolio in rice, maize, millets and vegetable seeds, and has nationwide presence through its brand ‘Dhaanya Seeds’. — PTI
NEW DELHI: Tata Group firm Rallis India has said that it has acquired majority stake in Bangalore-based seed research firm Metahelix Life Sciences for nearly Rs 100 crore in what was an all-cash deal.
With the signing of this deal, the company has announced its foray into seeds business, which is a key focus area of the firm under its growth agenda, the company said in a filing to the Bombay Stock Exchange on Thursday.
“Metahelix Life Sciences is the company’s first inorganic foray in the seeds space providing a strong platform in the entire value chain that comprises breeding, production and marketing of seeds,” the filing said.
Rallis, which has bought 53.5 per cent stake in the Bangalore-based firm for Rs 99.5 crore, will infuse another Rs 25 crore to increase its stake to 59.02 per cent. Further, pursuant to the terms of definite agreement, signed between both the companies, the company will enhance its shareholding in Metahelix to 100 per cent over a period of five years.
Elaborating on the business prospects of the acquisition, the Rallis India Managing Director and CEO, Mr V. Shankar, said: “We believe that revenues from the entity will exceed Rs 1,000 crore, cumulatively, over a five-year period.”
Rallis India is a subsidiary of Tata Chemicals, engaged in the manufacturing of crop protection chemicals.
Metahelix Life Sciences boasts of a good product portfolio in rice, maize, millets and vegetable seeds, and has nationwide presence through its brand ‘Dhaanya Seeds’. — PTI
Tuesday, December 7, 2010
HCL Vice-Chairman sells stake for Rs 42.7 cr
HCL Vice-Chairman sells stake for Rs 42.7 cr
MUMBAI: IT services provider HCL Technologies has said that its Vice-Chairman, Mr Vineet Nayar, has sold his 0.146 per cent stake in the company for Rs 42.73 crore.
Mr Nayar has divested his 0.146 per cent stake in the company by selling 10 lakh shares, held under the family trust on December 7, HCL Technologies said in a filing to the Bombay Stock Exchange on Wednesday.
Prior to the transaction, Mr Nayar held 0.395 per cent stake in the IT major.
Meanwhile, the company shares were trading at Rs 431.30, up 0.51 per cent from the previous close on the BSE. — PTI
MUMBAI: IT services provider HCL Technologies has said that its Vice-Chairman, Mr Vineet Nayar, has sold his 0.146 per cent stake in the company for Rs 42.73 crore.
Mr Nayar has divested his 0.146 per cent stake in the company by selling 10 lakh shares, held under the family trust on December 7, HCL Technologies said in a filing to the Bombay Stock Exchange on Wednesday.
Prior to the transaction, Mr Nayar held 0.395 per cent stake in the IT major.
Meanwhile, the company shares were trading at Rs 431.30, up 0.51 per cent from the previous close on the BSE. — PTI
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