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Updated: Feb 28 2013, 05:51am hrs
JNPT seeks Sebi nod to raise R2,000 cr via bonds

Countrys largest container port Jawaharlal Nehru Port Trust (JNPT) has sought capital market regulator Sebis approval to raise up to R2,000 crore through tax-free bonds. In its draft prospectus with Sebi, JNPT said it would garner up to R500 crore with an option to retain over-subscription up to R1,500 crore such that the overall issue size does not exceed R2,000 crore. The net issue proceeds raised through this issue are proposed to be utilised primarily for the purpose of dredging works for deepening and widening of the Mumbai harbour channel and JN Ports navigational channel and capital expenditure for other projects in relation to the port operations, JNPT said.

MTNL revokes blacklisting order against Allied Digital

IT company Allied Digital Services on Wednesday said MTNL has revoked blacklisting order against the firm with immediate effect. The blacklisting order was issued by MTNL without any specific reason in relation to a bid submitted by Allied to MTNL almost two years ago...

MTNL issued a letter revoking the order with immediate effect, Allied Digital Services said in a statement at BSE.

JSPL to increase stake in Australias Apollo Minerals

Jindal Steel and Power (JSPL) will increase stake in Australias Apollo Minerals to 11.70% by acquiring addition 10 million shares of the firm for about A$0.4 million (about R2.20 crore). Prior to this, JSPL had 9.25% in the Australian company, which is primarily into iron ore mining. Apollo Minerals said in a statement that it has signed a share subscription agreement with one of the Companys major shareholders, Jindal Steel and Power Australia (a subsidiary of JSPL). Under the terms of the subscription Agreement, JSPL will subscribe for 10,000,000 ordinary shares at A$0.04 per share for gross proceeds to the company of A$400,000. This investment will result in JSPL owning 11.7% of the total issued shares in Apollo, it added.

Bosch net declines 38.8% to Rs 172.05 crore

Automotive component maker Bosch on Wednesday reported a 38.8% decline in net profit for the quarter ended December, compared with the same period a year ago, as a subdued automobile market slowed revenue growth while costs rose. The company reported net profit of R172.05 crore compared with R281.14 crore a year ago. The companys net sales during the quarter grew 5% to R2,055.69 crore from R1,946.41 crore in the year-ago period. The companys board of directors has recommended a dividend of R60 per share for 2012 compared with R50 per share in the previous year.

Direct flights from India to Phuket to start soon

Destination weddings and holidays in the resort island of Phuket in Thailand could become easier with the launch of direct flights to New Delhi and Mumbai by budget airlines THAI Smile beginning next month. The sister airline of national carrier Thai Airways International will begin direct flights from Phuket to Mumbai on March 31, with flights to New Delhi to start on April 2. THAI Smile will operate four return flights a week to both the destinations.

Neo Sports to telecast cricket matches from NZ

Neo Sports Broadcast has bagged the rights to telecast all domestic and international cricket played in New Zealand until 2020, the company on Wednesday said. The coverage will begin with New Zealands first Test against England starting March 6 in Dunedin. Also, India is scheduled to tour New Zealand in February 2014. The 7-year deal includes 261 days of live cricket including 18 T20s, 63 ODIs and 36 Tests and includes rights for all of Asia excluding West Asia.

Bharti Airtels myairtel named app of the year

A mobile application named myairtel devised by Bharti Airtel has been acknowledged the App of the Year in Best Application using Network APIs category at the global mobile awards 2013 in Barcelona. The myairtel application allows Airtel customers to check outstanding bills, recharge, make payments, activate-deactivate services, raise requests and complaints. The app is available as a free download for Android as well as iOS-based mobiles, and has recorded more than a million downloads since its launch in September 2012.

L&T bags R1,504-crore orders in February

Engineering and construction firm Larsen and Toubro (L&T) on Wednesday said it has secured orders worth R1,504 crore order during the ongoing month from India and abroad. The companys water and effluent treatment business unit has bagged orders worth R621 crore for two projects in West Bengal and one in Qatar, it said in a BSE filing. The solar business unit of L&T Construction, which is a brand name for L&T, has received an engineering, procurement and construction order worth R413 crore from Kiran Energy for the construction of solar photo-voltaic plants in Tamil Nadu.