HDIL to raise Rs 3,000 cr; Q1 net up two-fold
HDIL said it plans to raise around Rs 3,000 crore from the capital market to meet its long-term capital requirement.
“We plan to raise USD 650 million to meet our future need for capital, which may be deployed for buying land, develop existing and future properties and others,” HDIL Vice President (Finance) H P Pandey told PTI.
NHPC Q1 net profit rises 7% at Rs 537.42 cr
Hydro power generator NHPC’s net profit rose seven per cent to Rs 537.42 crore for the June quarter compared to the same period last year.
NHPC had a profit of Rs 502.10 crore in June quarter last year.
Net sales were at Rs 1,019.71 crore compared to Rs 1,060.26 crore in the same quarter last fiscal (2009-10), an official statement said.
Oil India has $2 bn budget for foreign buys
Oil India Ltd has set aside $2 billion for overseas acquisitions, Chairman N M Borah told reporters on Thursday.
“We are currently doing due diligence for 2-3 assets,” Borah said.
He said in May that the company was looking at acquiring stakes in fields in Myanmar and Bangladesh.
The company has acquired stakes in exploration blocks in Libya, Gabon, Iran, Nigeria and Yemen.
This year, Oil India and IOC had submitted a preliminary approach to acquire Syrian-focused oil explorer Gulfsands Petroleum.
India, Asia’s third-largest oil consumer, has encouraged state firms to look for oil and gas fields abroad to secure supplies for its rapidly expanding economy.
Apollo Tyres to invest Rs 1,100 cr in nine plants
Tyre major Apollo Tyres Ltd would invest Rs 1,100 crore this year in its nine plants in India and abroad, besides expanding its operations in Asia, a top company official said here today.
In the current fiscal, total capacity of the Indian plants would touch 1,450 tonnes, while 200 tonnes each would be added to the South African and European plants.
ONGC Q1 net dips 24% on higher subsidy burden
State-run Oil & Natural Gas Corporation (ONGC) today reported a decline of 24 per cent in net profit to Rs 3,661.14 crore for the first quarter ended June 30, 2010, over the same period last year, on higher subsidy payout.
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Recent Entries
- HDIL to raise Rs 3,000 cr; Q1 net up two-fold
- NHPC Q1 net profit rises 7% at Rs 537.42 cr
- Oil India has $2 bn budget for foreign buys
- Apollo Tyres to invest Rs 1,100 cr in nine plants
- ONGC Q1 net dips 24% on higher subsidy burden
- Govt to sign $775 mn jet deal with BAE Systems
- Unitech makes Rs 700 cr offer for London-listed firm
- M&M June qtr profit up 40%
- Mahindra earmarks Rs 8,600 cr capex
- MRF net declines 51% in June quarter
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