Ashok Leyland posts Rs.141 crore loss in first quarter

Ashok-LeylandChennai, July 16 : Commercial vehicles maker Ashok Leyland closed the first quarter with a turnover of Rs. 2,363.81 crore and net loss of Rs. 141.75 crore as against a turnover of Rs. 3,026.89 crore and a net profit of Rs.
66.94 crore posted during the corresponding period the previous year.

"What we are experiencing is one of the harshest and steepest of downturns and while we are combating it, the situation also affords us an opportunity to streamline our processes towards becoming a leaner and far more customer-oriented organisation," Vinod K. Dasari, managing director, said here Tuesday.

Process to start n-fission at Kudankulam to be over Sat-Sun

KNPPChennai, July 12 : Work towards taking the 1,000 MW first unit at the Kudankulam Nuclear Power Project (KNPP) is in progress from Thursday evening and is expected to get over in 48-72 hours time (Saturday-Sunday evening), the top official of the country's atomic energy establishment has said.

All legal clearances required have been obtained and the necessary reports have been filed in the Supreme Court by the relevant agencies as directed in the May 6 judgment of the court, R. K. Sinha, secretary, department of atomic energy (DAE) and chairman of the Atomic Energy Commission (AEC), said.

Reliance General Q1 premium up 25 percent to Rs.706 crore

Reliance-General-Insurance-LogoChennai, July 12 : Reliance General Insurance Company closed the first quarter of the current fiscal with a 25 percent growth in gross written premium as against the comparable period of the previous financial year, the private non-life insurer said Friday.

Atomic energy regulator satisfied with Kudankulam plant's safety

Atomic energy regulator satisfied with Kudankulam plant's safetyChennai, July 11 : India's atomic energy regulator Thursday gave its nod to the Kudankulam Nuclear Power Project (KNPP) to start the fission process after being satisfied with the plant's safety, said its chief.

"We have filed our report with the Supreme Court last week. Only after that, we gave our sanction to KNPP to go critical - commence the fission process," Atomic Energy Regulatory Board (AERB) chairman S. S. Bajaj told IANS over phone from Mumbai.

Swatch group to increase Omega brand outlets

Swatch-groupChennai, July 11 : The Swatch Group (India) Pvt. Ltd. will expand its network of Omega brand retail outlets in a phased manner by adding three more boutique stores and around six multi-brand stores in a year's time, said a senior official of the luxury watch company.

"By 2014 we plan to add three more boutique outlets selling only Omega brand of watches. Currently, we have seven boutique outlets in the country. We also intend to add around six multi-brand luxury watch stores to our existing network of 48," P. H. Narayanan, brand manager, told reporters here Thursday.

Reliance Life doubles new business premia in first quarter

Reliance-Life-Insurance1Chennai, July 10 : Doubling its fresh premium income, the Reliance Life Insurance Company closed the first quarter of the current fiscal with a total premium income of Rs. 914 crore up from Rs. 815 crore logged during the comparable period of the previous year.

The company, an associate of Reliance Capital, also made its re-entry into the top five life insurers club in the first quarter.

Atomic energy regulator yet to file Kudankulum report in SC

kudankulam-PlantChennai, July 10 : The Indian atomic energy regulator has not yet filed with the Supreme Court its report on the Kudankulam Nuclear Power Project (KNPP, an anti-KNPP activist said Wednesday.

"In response to an application filed under the Right to Information (RTI) Act, the AERB (Atomic Energy Regulatory Board) in its reply dated July 1 said: 'The report would be filed by AERB in he Hon'ble Court before granting next stage of clearance for commissioning of the plant.'," M. Pushparayan of the People's Movement Against Nuclear Energy (PMANE) told IANS.

Chutka atomic power project to cost around Rs.16,550 crore

NPCIl-logoChennai, July 9 : The Nuclear Power Corporation of India Ltd (NPCIL) is expected to spend around Rs. 16,550 crore towards construction of two 700 MW pressurised heavy water reactors at Chutka in Madhya Pradesh.

According to the draft environmental impact assessment (EIA) report on the company's website, the base cost of the Chutka Madhya Pradesh Atomic Power Project (CMPAPP) was Rs. 11,200 crore in June 2011 and is expected to cost around Rs. 16,550 crore when the two reactors are completed.

India's atomic power plant operator NPCIL hopes to complete the first unit's construction by December 2020 and the second one by June 2021.

300 MW power generation down at Neyveli Lignite due to strike

neyveli-lignite-corporationChennai, July 8 : The ongoing workers' strike at mining-cum-power generator Neyveli Lignite Corporation (NLC) has begun to affect power output in a major way, said a senior company official.

"Generation in the first unit has come down by 300 MW in the first power station. We are maintaining generation in other units. Though we try to maintain the generation levels, there may be further reduction in the first unit," the official told IANS over phone from Neyveli, around 210 km from here.

Pride - a quality aspiring actors shouldn't possess: Anisha Ambrose

Anisha-AmbroseChennai, July 8 : Actress Anisha Ambrose, who is making her debut with upcoming Telugu action-drama "Alias Janaki", feels that for a long-lasting career, aspiring actors shouldn't develop pride and climb the ladder of fame with humility.

"It's important to remember that fame comes with responsibility and therefore one shouldn't develop pride. Besides success, any wannabe actor should also have humility for a lasting career in filmdom," Anisha told IANS.

Is Mars mission Indian rocket's silver jubilee flight?

PSLVChennai, July 8 : Is the Mars mission the silver jubilee commercial flight for India's rocket Polar Satellite Launch Vehicle (PSLV)? There are claims from officials that this is indeed so, but there are also reasons to dispute the claim.

Immediately after the launch of India's first navigation satellite, Indian Space Research Organisation (ISRO) officials said the space agency is gearing up for PSLV's silver jubilee mission, which will carry the Mars orbiter.

Strictly speaking, the Mars mission is not PSLV's 25th commercial mission, but 22nd.

ISRO, for inexplicable reasons, jumped one number while naming one of its earlier PSLV rockets.

Neyveli Lignite strike on, conciliation talks fail

Neyveli-Lignite1Chennai, July 5 : The conciliation talks between the striking workers and the management of the Neyveli Lignite Corporation Ltd (NLC) held at Puducherry Friday failed and the unions said they would approach the Madras High Court next week to get its order against the strike vacated.

Strike to affect power production at Neyveli Lignite

Neyveli-LigniteChennai, July 4 : The strike at Neyveli Lignite Corporation Ltd. (NLC) by workers protesting the central government's decision to divest five percent stake in the company would lower power production from Friday, union leaders said Thursday.

Over 27,000 workers, regular and contractual, belonging to various unions struck work Wednesday night defying a Madras High Court ban order issued earlier in the day.

ISRO to mate cryogenic engine with its rocket Friday

GSLVChennai, July 4 : The Indian space agency will be mating its own cryogenic engine with its heavy rocket - the geo-synchronous satellite launch vehicle (GSLV) - Friday afternoon at its spaceport in Sriharikota in Andhra Pradesh, said officials.

"The process of fixing our cryogenic engine with GSLV will begin tomorrow (Friday) afternoon. Then various tests will be carried out before the satellite is fixed with the rocket," an Indian Space Research Organisation (ISRO) official, who did not want to be named, told IANS.

Third orbit-raising completed on navigation satellite: ISRO

ISROChennai, July 4 : The Indian space agency Thursday afternoon successfully completed its third orbit-raising manoeuvres of its first navigation satellite - the Indian Regional Navigation Satellite System-1A (IRNSS-1A), said officials.

The orbit-raising activity is done by firing the satellite's on-board motors towards its geo-synchronous orbit at 36,000 km.

The IRNSS-1A was launched July 1 from Indian Space Research Organisation's (ISRO) spaceport in Sriharikota in Andhra Pradesh, around 80km from here.

According to ISRO officials the satellite's onboard motor was fired for around 35 minutes and the result was as per the original plan.

RBI has no exchange rate target for rupee: Subbarao

D-SubbaraoChennai, July 4 : The Reserve Bank of India (RBI) does not have any target for rupee level but will use all the instruments it has to reduce volatility, Governor D. Subbarao said Thursday.

He also said the bank's monetary policy transmission is not agile as the commercial banks are reluctant to pass on the benefit of interest rate reduction to borrowers and not all the applicants for a banking licence will get one.

Speaking to reporters here, Subbarao said the bank has no exchange rate target but would use all the instruments it has to reduce the Indian rupee's volatility.

Indian space agency wants second rocket assembly facility

ISROChennai, July 3 : The Indian space agency is awaiting the government's nod for one more vehicle/rocket assembly building at its second launch pad in Sriharikota at an outlay of around Rs. 350 crore, said a senior official.

"The Department of Space has approved the project which is awaiting the final nod from the government," a senior official at the Indian Space Research Organisation (ISRO) told IANS.

Indian satellite's orbit to be raised Tuesday night

ISROChennai, July 2 : Indian space agency ISRO will around midnight Tuesday carry out activities to raise the orbit of its first navigation satellite, Indian Regional Navigation Satellite-1A (IRNSS-1A), launched Monday night, said an official.

"The first orbit raising maneouvers will be carried out today (Tuesday) around midnight to take the satellite by firing its onboard motors towards its geo-synchronous orbit at 36,000 km," the official told IANS on the condition of anonymity.

Ram Charan, Allu Arjun donate Rs.20 Lakh for Uttarakhand relief

allu-arjun-ram-charanChennai, July 2 : Telugu actors Ram Charan Teja, son of actor-turned-politician Chiranjeevi, and his cousin Allu Arjun chipped in Rs. 10 lakh each towards the Uttarakhand disaster relief fund.

Earlier, actor Pawan Kalyan, younger brother of Chiranjeevi, donated Rs. 24 Lakh for the same cause.

Confirming the news, Allu Sirish, younger brother of Arjun posted on his Twitter page: "Charan and Bunny (Arjun) gave Rs. 10 lakh each, (while) Kalyan garu gave Rs 24 lakh".

Members from Chiranjeevi's fan club have tuned in up to Rs. 25 lakh for the victims.

India to have satellite-based navigation system by 2015

IRNSSChennai, July 1 : India will have its own navigational systems like couple of other countries by 2015 and its space agency is in a fast production mode to roll out six more satellites for this purpose, said an official Monday.

"All the seven satellites of the Indian Regional Navigation Satellite System (IRNSS) are identical and the space agency will be rolling them out. Already the second one is getting ready for the year-end or early 2014 launch," an official at the Indian Space Research Organisation (ISRO) told IANS preferring anonymity.

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