Editor's Desk - FreePress India

Vijaya Bank to open 35 new branches by March end

February 24, 2009February 24, 2009 by Editor's Desk

Vijaya Bank is planning to open 35 new branches across the country by the end of March 2009. The bank’s aim is to cross the 1,100-mark of total branch network by the end of the current fiscal. The bank currently has 1,065 branches across the country. Of the proposed 35 new branches, 19 would be … Read more Vijaya Bank to open 35 new branches by March end

ABB sharp decline in order inflows to impact medium-term earnings growth

February 24, 2009February 24, 2009 by Editor's Desk

ABB reported a 37% YoY decline in order inflows in 4Q, with order intake being the lowest in the past three years. While order inflows could return with a lag, medium-term earnings growth will be impacted by the slip. Earnings growth in 4Q slowed to just 5% (11% for CY08), led by slower revenue growth, … Read more ABB sharp decline in order inflows to impact medium-term earnings growth

Indian shares are likely to open negative

February 24, 2009February 24, 2009 by Editor's Desk

Indian markets are likely to open negative, taking cues from global markets. Asian stocks extended losses on Tuesday, as US stocks slumped to a 12-year low, with investors growing increasingly nervous about the health of the global financial system. The rupee is expected to fall on Tuesday as steep falls in global stock markets raise … Read more Indian shares are likely to open negative

Tata Communications / VSNL earnings above expectations – Will it Sustain ?

February 23, 2009 by Editor's Desk

On a consolidated basis, Tata Communications (TCOM) reported 3QFY09 revenues, EBITDA and net income of Rs26.1 bn (up 5% qoq), Rs3.8 bn (up 41% qoq) and Rs650 mn (up 83% qoq. EBITDA margin rose 360 bps qoq to 14.4% due to rising proportion of non-voice revenues. Excluding net income, reported financial are not comparable with … Read more Tata Communications / VSNL earnings above expectations – Will it Sustain ?

BSNL Cellone India Golden Fifty Plan

February 23, 2009February 23, 2009 by Editor's Desk

State run Bharat Sanchar Nigam (BSNL) has announced a new tariff plan that offers local and STD calls at just 50 paise per minute across all the network and 20-30 paise for BSNL to BSNL. The new plan – India Golden Fifty – would be made available to its customers from March 1 for a … Read more BSNL Cellone India Golden Fifty Plan

BHEL bags order worth Rs 3150 crore

February 23, 2009February 23, 2009 by Editor's Desk

Bharat Heavy Electricals (BHEL) has bagged an order worth Rs 3150 crore from Madhya Pradesh Power Generating Company (MPPGCL). The order is for the main plant package at the upcoming Malwa Thermal Power Project (TPP) in Madhya Pradesh, involving two new-rating units of 600 megawatt each. The project is expected to significantly enhance the existing … Read more BHEL bags order worth Rs 3150 crore