Business News
Base Corporation to enter telecom and auto sectors
Bangalore-based battery manufacturer Base Corporation has decided to enter the telecom and automotive equipment sectors from its proposed Rs.432-crore plant near Hosur in Tamil Nadu.“Presently we are catering to the automotive replacement market and the inverter segment out of our Himachal Pradesh plant which…
Volkswagen to increase market share to 20 per cent by 2018
Volkswagen is eyeing to capture 20 per cent share of the Indian automobile market by 2018, rolling out five million cars, a company official said Wednesday.“Our current market share in India is 2.6 per cent and we are looking up to increase it to…
‘Investment in solar power projects to double by 2015′
With investment in solar power projects expected to double in the next five years, photovoltaics could account for nine percent of the global power demand by 2030, according to a study released here Wednesday.Photovoltaics (PV) is a method of generating electrical power by converting…
Carborundum Universal Q2 net profit grows 55 percent
Abrasives major Carborundum Universal Ltd (CUMI) closed the second quarter of the current fiscal with a consolidated revenue and profit growth of 26 percent and 55 percent respectively.The Murugappa group company Wednesday said its consolidated sales and net profit grew to Rs.408 crore and…
Rediff introduces mobile email service
Rediff in partnership with Mahanagar Telephone Nigam Ltd (MTNL) Wednesday introduced a mobile email service for Rs.50 a month.“We will provide quite secure and user-friendly services. Its most features are like BlackBerry. But it is cheaper, more importantly, works on most phones including entry-level…
Ashok Leyland Q2 profit up 89 percent, to expand globally
Commercial vehicle manufacturer Ashok Leyland closed the second quarter of the current fiscal with a 89 percent increase in net profit and 72 percent growth in revenue, and is planning global expansion through organic and inorganic modes.For the second quarter ended Sep 30 this…
Canara Bank Q2 profit up 11 percent to Rs.1,007.9 crore
Canara Bank said Wednesday its net profit rose 10.69 percent to Rs.1,007.88 billion in the second quarter of the current fiscal.The bank has posted a net profit of Rs.1007.88 crore for the quarter ended Sep 30, 2010 as compared to Rs.910.52 crore during the…
Harley-Davidson posts Q3 profits, but sales drop
Harley-Davidson Inc Tuesday said its third-quarter profits more than doubled, led by the improved performance of its financial services unit, but reported a drop in worldwide sales.The largest US motorcycle maker said its net income climbed to $88.8 million from $26.5 million a year…
Sensex dull in morning trade
A benchmark index of Indian equities Wednesday was ruling tardy, having slipped from its opening highs.The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,223.45 points, was after half an hour ruling at 20,219.85 points, up 16.51 points or…
Magma Fincorp Q2 profit up 67 percent
Non-banking finance company Magma Fincorp clocked a profit after tax (PAT) of Rs.26.36 crore in the second quarter (July-September) of 2010-11 compared to Rs.15.75 crore during the corresponding period last fiscal, a rise of 67 percent.“We have recorded 28 percent growth in disbursement and…
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