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Tamil Nadu Newsprint to spend Rs 1000 crore on Capacity Expansion

Tamil Nadu Newsprint to spend Rs 1000 crore on Capacity ExpansionTamil Nadu Newsprint and Papers Ltd, the leading manufacturer of printing and writing papers and newsprint in India, has plans to spend Rs 1000 crore on capacity expansion.

Through the latest decision, the company intends to tap 12-13% market share of the printing and writing paper segment, by 2011-12.

Triveni Engineering Q2 net profit soars 10%

Triveni Engineering Q2 net profit soars 10%Sugar producer Triveni Engineering & Industries, on Monday announced a 10 per cent surge in its net profit at Rs 37.77 crore for the second quarter ended March 31, 2009, compared to Rs 34.28 crore in the year-ago period.

During the same period, company's net sales also grew by 21 per cent to Rs 457.58 crore in the latest quarter from Rs 378.27 crore in the corresponding year-ago period.

For the six months ended March 31, 2009, Triveni Engineering posted a net profit of Rs 61.75 crore as compared to Rs 59.96 crore.

Small revival of Surat diamond industry brings smile back to workers

Small revival of Surat diamond industry brings smile back to workersSurat, Apr 27: After a lull, diamond market in Surat was abuzz with activity following slight spurt in demand for high quality diamond.

Reportedly, over a hundred thousands of workers had lost their jobs following the recent recessionary trends.

With the current revival in a portion of the industry, recruitment of highly skilled workers has commenced.

India requests IMF for increase in its quota share; ready to buy $10 billion bonds

IndiaHighlighting the escalating economic importance of India in the world scenario, the Indian government has sought an increase in its International Monetary Fund (IMF) quota share, saying that it would put in nearly $10 billion to enhance the Fund's resources, corresponding to its existing share.

Uttam Galva to pump Rs 400 crore on Capacity Expansion, over next one year

Uttam Galva Steel Ltd.Uttam Galva, the leading steel manufacturer, which is presently going slow on expanding steel capacity considering the economic situation, has plans to spend Rs 400 crore in enhancing capacity of its service centre and adding new product mix over the next one year.

The company intends to fund the investment, largely through a mix of internal accruals and debt.

Presently, company's steel service centre has a capacity of 20,000 tonne. The facility is situated near its plant in Khopoli, Maharashtra.

3i Infotech Q2 net profit grows 85.29%

3i Infotech 3i Infotech, a global Information Technology company, has registered 85.29 growth in its net profit to Rs 90.46 crore for the quarter ended March 31. The company had a net profit of Rs 48.82 crore in the same quarter ended March 2008.

Further, the company's net sales also rose to Rs 606.76 crore in the quarter, up by 73.25% from Rs 349.86 crore in the previous year-ago quarter. Apart from the announcement of results, 3i Infotech Ltd has recommended an equity dividend of Rs 1.50 per share having face value of Rs 10/- each.