business

With an aim to enhance its overseas presence, state-run major general insurer Oriental Insurance Company (OIC) is planning to roll out an an office in Doha, the capital city of Qatar, by next couple of months. The company has already obtained approval from the regulatory body, Insurance Regulatory Development Act (IRDA), while it is wating … Read more Oriental Insurance to roll out an office in Doha soon

The Board of Directors of Reliance Communication Ltd on January 31, 2009, approved a Scheme for consolidation of Optic Fiber Division of the Company to Reliance Infratel Ltd, a subsidiary of the Company. Reliance Infratel owns, operators, and develops telecom infrastructure, primarily consisting of wireless communication sites and towers. Reliance Infratel currently owns all of … Read more RCom consolidation of its tower & infrastructure business

Financial Highlights For the quarter ended Dec’08 Jindal Steel & Power (JSPL) reported a 28% increase in Total Income to Rs 1781.07 crore. However the Operating Profit Margin (OPM) decreased by 370 basis points to 34.4%. The resultant operating profit for the quarter ended Dec’08 stood at Rs 611.99 crore which was 15% higher when … Read more Jindal Steel & Power – Capex of Rs 2000-2500 crore in next 2 years

Zylog Systems’ Board at its meeting held on January 30, 2009, had approved the investment in the Equity shares of its 100% subsidiary Zylog Systems (India) aggregating to Rs 24.90 crore towards the WIFI Projects, which is well within the permissible limit of the Companies Act, 1956. The board also approved the proposal of availing … Read more Zylog Systems to invest Rs 24.90 crore in its subsidiary

Oil and Natural Gas Corp (ONGC) is likely to get back two deep-water oil blocks in Nigeria, which were earlier awarded to a Korean company by the Nigerian government three years back. ONGC Videsh (OVL) had won these blocks 321 and 323 in August 2005 committing Rs 2376.5 crore as a signing amount. However, these … Read more ONGC to get back two Nigerian oil blocks

We have confirmation from the L&T Corporate Communications that the company has not written to the Government seeking control of Satyam Computers. Further chief financial officer YM Deosthale has clarified the same while speaking to a popular business television channel.