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ABG Shipyard picks up additional stake in Great Offshore

August 1, 2009July 31, 2009 by Editor's Desk

ABG Shipyard has announced that it has further raised its stake in the Great Offshore on July 30, 2009.

The company acquired 212,348 shares constituting 0.57% stake of Great Offshore at an average price of Rs 450 per share.

With this acquisition, its stake in the exploration services major has increased to around 8%.

On Wednesday, the company has acquired 5.19% stake in Great Offshore and also raised the open offer price from Rs 375 per share to Rs 450 a share.

Jai Corp Net profit falls by 56.52% to Rs 9.13 cr

July 30, 2009July 30, 2009 by Editor's Desk

Jai Corp Limited has announced its unaudited results for the quarter ended June 30, 2009. The company has posted a net profit of Rs 9.13 crore for the quarter ended June 30, 2009 against Rs 21 crore for the quarter ended June 30, 2008, down 56.52%. Total income has decreased from Rs 121.46 crore to … Read more Jai Corp Net profit falls by 56.52% to Rs 9.13 cr

IRDA moots relaxing Ulip cap charges

July 30, 2009 by Editor's Desk

In order to make unit-linked insurance plans (Ulips) more attractive and giving flexibility to the insurers, the Insurance Regulatory and Development Authority (IRDA) has mooted relaxing the cap on distribution cost of Ulips, with effect from October 1, 2009. The move has come after the apex body met with the Life Insurance Council, where the … Read more IRDA moots relaxing Ulip cap charges

FIIs net sellers of Rs 169 cr (prov) in the cash mart on Wednesday

July 30, 2009July 30, 2009 by Editor's Desk

Foreign institutional investors (FIIs) were net sellers of Rs 168.79 crore (provisional) in the cash mart on Wednesday, as per information posted on the BSE website. While FIIs made gross purchases of Rs 2,533.12 crore, their gross sales amounted to Rs 2,701.91 crore. On the other hand, domestic institutional investors (DIIs) were net buyers of … Read more FIIs net sellers of Rs 169 cr (prov) in the cash mart on Wednesday

NMDC reports weak numbers for Q1 of FY10

July 29, 2009 by Editor's Desk

NMDC has announced its unaudited results for the quarter ended June 30, 2009. The company has posted a net profit of Rs 773.75 crore for the quarter ended June 30, 2009 against Rs 981.31 crore for the quarter ended June 30, 2008, down 21.15%. The total income of the company for the quarter has registered … Read more NMDC reports weak numbers for Q1 of FY10

Tata Steel reports weak NP for June’09 qtr

July 29, 2009 by Editor's Desk

Tata Steel has posted 46.93% decline in the net profit to Rs 789.83 crore for the June 2009 quarter as against Rs 1488.4 crore for the June 2008 quarter. The company’s total income dropped 8.16% from Rs 6165.14 crore for the June 2008 quarter to Rs 5661.89 crore for the June 2009 quarter.