The petroleum ministry has reportedly sought oil bonds worth Rs 50,600 to partly compensate state-run oil firms for selling fuel at subsidised rates during the first half of 2008.
The founders of real estate developer Unitech are reportedly looking to enter the general insurance sector and would rope in a foreign partner. The founders have already diversified into the telecom sector.
Tech Mahindra reportedly plans a capital expenditure of $150 million over the next three years to ramp up its physical infrastructure such as buildings and real estate as well as enhance its technology.
Indian Oil Corporation reportedly plans to enter city gas distribution business and is in talks with Oil and Natural Gas Corporation (ONGC) and Gujarat State Petroleum Corporation for sourcing gas.
The Children's Investment Fund, a UK-based hedge fund, has reportedly picked up less then 10% stakes in Indian Overseas Bank, Punjab National Bank, Vijaya Bank, Bank of Baroda and Union Bank of India.
JP Morgan Chase is reportedly investing Rs 130 crore for 33% stake in a special purpose vehicle (SPV) of Alok Infrastructure, a unit of Alok Industries. The SPV will develop a realty project in a prime location in Mumbai.
Net profit of Siemens spurted 107.2% to Rs 169.43 crore on a 1.5% increase in sales to Rs 1809.68 crore in Q3 June 2008 over Q3 June 2007.
Net profit of Alfa Laval (India) rose 29% to Rs 25.92 crore on a 31.1% increase in sales to Rs 194.23 crore in Q2 June 2008 over Q2 June 2007.
Net profit of Bihar Caustic & Chemicals soared 101.8% to Rs 13.28 crore on a 55.9% jump in sales to Rs 52.78 crore in Q1 June 2008 over Q1 June 2007.
Net profit of NOCIL surged 473.4% to Rs 11.64 crore on a 73.9% increase in sales to Rs 128.39 crore in Q1 June 2008 over Q1 June 2007.
Zee Entertainment, Aztecsoft, Crompton Greaves, Gujarat Industries Power, Infotech Enterprises, J Kumar, Mahindra & Mahindra Financial, Mastek, Patni, Pidilite, SEL Manufacturing, Shree Renuka and Sterlite Technologies, among others will declare their June ended quarter results today.