Auto parts firms’ margins likely to be hit in next 2 quarters

Auto component makers in the country expect their profitability to be impacted by 3%–4% in the third and fourth quarters of the financial year, with commodity prices further....

Celebrity treads new terrain, to rejig ops

Readymade garment manufacturer and owner of Indian Terrain brand, Celebrity Fashions Ltd, has decided to restructure its operations — it will spin off its various divisions into separate entities and may even hive off some of them in the future...

Mkt ends wild week, Sensex up 262 pts

The 30-share Sensex of Bombay Stock Exchange added 94.38 points or 0.59% on Friday to end the day at 16,158.28 points. The broader S&P CNX Nifty of National Stock Exchange gained 30.60 points or 0.64% to close the day at 4,796.15 points.

Operations resume at Rico Auto as strike ends

The six-week-long strike at Rico Auto Industries has come to an end and work has resumed after the management reached an agreement last evening to reinstate some employees.

Tata Steel logs best-ever October output jump

India's largest steel producer Tata Steel Ltd on Friday announced that the company has recorded its best-ever production in most units during October. The company's October sales rose 38% to 4,62,000 metric tonnes against....

Tata Power plans to raise $250 million via FCCBs

Tata Power, which aims to achieve generation capacity of 8,242 mw by March 2013, plans to raise $250 million by issuing foreign currency convertible bonds.

Vedanta H1 net plunges 46%; recovery in sight

Vedanta Resources Plc on Thursday announced that the company’s net profit for the half year ended September dipped 46.2% due to weak metal prices.

Demand up but Genpact net falls 2%

The country’s largest business process outsourcing company, Genpact, on Thursday reported a 1.7% drop in its net profit at $33.1 million for the quarter ended September, compared to the same period last year.

GVK acquires 12% in Bengaluru airport

GVK Airport Developers Pvt Ltd, a wholly-owned subsidiary of GVK Power and Infrastructure Ltd, has acquired a 12% stake in Bengaluru International Airport Ltd from Zurich Airport for Rs 484.60 crore.

Corporate Notes

Tata Steel on Wednesday said it has cut prices of some of its steel products mainly on account of weakening global trend. “We have cut prices of our flat steel products. It is in the same range as other steel makers have done,” Tata Steel MD H M Nerurkar said.

Advertisers cheer as India-Oz series a hit

The Champions League T20 and Champions Trophy may have failed to meet the expectations of advertisers, but the current India-Australia ODI series has brought back the cheers.

Truck sales accelerate 59% in October

Keeping with the buoyant sales of passenger cars and two-wheelers, truck sales in the country jumped over 59% in October, mainly due to lower base effect of last year, low cost of finance and hardening of auto emission norms in various parts of the country.

ICAI to withdraw proceedings against PW Delhi

Accounting regulator ICAI on Wednesday agreed to withdraw disciplinary proceedings against audit firm Price Waterhouse Delhi for its alleged involvement in the multi-crore scam in Satyam Computer Services.

Ericsson eyes mega bucks from multimedia business in India

Communications network provider Ericsson is betting big on its revenues from the multimedia business in India. Ericsson has been witnessing a growth of around 20-25% in this segment globally and expects the trend to continue in coming years. India accounts for a significant part of Ericsson’s business.

Cement firms’ margins grow; price a concern

With growth in volume, good demand and dip in production cost, Indian cement companies have posted good numbers for the July-September quarter. However, despite reporting a growth in topline and bottomline, cement manufacturers are worried about the new capacities coming up that would pressure already reduced cement prices in the country.

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Events

Auto parts firms’ margins likely to be hit in next 2 quarters

Celebrity treads new terrain, to rejig ops

Mkt ends wild week, Sensex up 262 pts

Operations resume at Rico Auto as strike ends

Tata Steel logs best-ever October output jump

Tata Power plans to raise $250 million via FCCBs

Vedanta H1 net plunges 46%; recovery in sight

Demand up but Genpact net falls 2%

GVK acquires 12% in Bengaluru airport

Corporate Notes

Advertisers cheer as India-Oz series a hit

Truck sales accelerate 59% in October

ICAI to withdraw proceedings against PW Delhi

Ericsson eyes mega bucks from multimedia business in India

Cement firms’ margins grow; price a concern

Anger brews at JLR over outsourcing buzz

Corporate Notes

‘Pharma cos need to rationalise costs as pricing pressure mounts’

Mall rentals stabilise, vacancy high

Air Works gets certification from European agency

Nod for Michelin plant