Editor's Desk - FreePress India

Reliance Capital – Liquidity crisis reduced consumer financing

January 26, 2009January 21, 2009 by Editor's Desk

Reliance Capital held its conference call on 20th January 2009 to discuss the company’s performance for nine months ended December 2008. Highlights RCL’s consolidated income from operations for the quarter ended December 31, 2008 increased to Rs 15.7 billion (US $ 323 million) from Rs 11.6 billion in the corresponding period previous year, registering a … Read more Reliance Capital – Liquidity crisis reduced consumer financing

Hindustan Zinc silver refinery plant in Uttarakhand

January 21, 2009January 21, 2009 by Editor's Desk

Hindustan Zinc, a Vedanta group company, is planning to open a silver refinery plant at the Pantnagar industrial estate in Uttarakhand with an investment of Rs 100 crore. The capacity of the new plant is expected to be around 300 tonnes per year and is likely to be into operational by the end of next … Read more Hindustan Zinc silver refinery plant in Uttarakhand

Understating operations to save tax – Face stricter penalties

January 21, 2009January 21, 2009 by Editor's Desk

The government is ready to take tougher attitude against those companies that understate operations in terms of production or capacity in order to get a relief in advance tax obligations. There is an added clause in the Collection of Statistics Bill, 2008, passed by Parliament last month, which states that data manipulation by a company … Read more Understating operations to save tax – Face stricter penalties

FIIs net sellers of Rs 308 cr in cash market on Tuesday

January 21, 2009January 21, 2009 by Editor's Desk

Foreign institutional investors (FIIs) were net sellers of Rs 308.15 crore (provisional) in the cash market on Tuesday, as per the information available on the BSE website. While FIIs made gross purchases of Rs 786.51 crore, their gross sales aggregated Rs 1,094.66 crore. Domestic institutional investors (DIIs) were net buyers of Rs 185.05 crore (provisional) … Read more FIIs net sellers of Rs 308 cr in cash market on Tuesday

Tata Steel’s Orissa initiative put on hold

January 21, 2009January 21, 2009 by Editor's Desk

Tata Steel’s proposed 1.5 million tonnes per annum (mtpa) steel plant in Orissa has been put on hold as the state government is facing difficulties in acquiring land for the project. Tata, which has a sponge iron unit at Bileipadar in Keonjhar district, had considered setting up a 1.5 mtpa steel plant adjacent to its … Read more Tata Steel’s Orissa initiative put on hold

Rolta India – May buyback FCCBs

January 26, 2009January 20, 2009 by Editor's Desk

Rolta India held a conference call to discuss second quarter results for FY09 and future prospects. Mr Hiranya Asher, Director – Finance, addressed the call. Highlights of the call The order book at the end of December 2008 was marginally up at Rs 1590 crore executable over 12-18 months: Geospatial Information services Rs 710 crore, … Read more Rolta India – May buyback FCCBs