Dena Bank expects to achieve a total business of Rs 1.5 lakh crore by the end of this fiscal on the back of sound growth in deposits and advances. The bank aims to have a credit growth of 18 per cent and deposit growth of 17 % in FY13.
Hero group ties up with Canadian firm for electric bike batteries. The Canadian company will work with Hero Eco to implement lithium ion-powered electric bikes for Hero’s markets in worldwide.
Gitanjali Gems reported a marginal 2% increase in profits at Rs 151 crore in the second quarter. The company posted a profit of Rs 148 crore in the year-ago period. However, the revenues in the July-September quarter were up 32% at Rs 3,928 crore compared with Rs 3,384 crore in the corresponding quarter last fiscal.
Himadri Chemicals and Industries Ltd has posted nearly 43 per cent growth in standalone net profit to Rs 32.77 crore for the quarter ended September 30, 2012, compared with Rs 22.96 crore during the corresponding period last year. Net sales went up 12 per cent to Rs 314.37 crore.
CESC Ltd has bagged a consultancy contract of $2.5 million (Rs 13.7 crore ) a year in power distribution sector in Nigeria.
Industry News
The IIP for the month of September 2012 stands at 163.6, which is 0.4% lower as compared to the level in the month of September 2011 due to dismal show by manufacturing sector and decline in consumer as well as capital goods output. However, it was 2.5 per cent in September last year.
Hero group ties up with Canadian firm for electric bike batteries. The Canadian company will work with Hero Eco to implement lithium ion-powered electric bikes for Hero’s markets in worldwide.
Gitanjali Gems reported a marginal 2% increase in profits at Rs 151 crore in the second quarter. The company posted a profit of Rs 148 crore in the year-ago period. However, the revenues in the July-September quarter were up 32% at Rs 3,928 crore compared with Rs 3,384 crore in the corresponding quarter last fiscal.
Himadri Chemicals and Industries Ltd has posted nearly 43 per cent growth in standalone net profit to Rs 32.77 crore for the quarter ended September 30, 2012, compared with Rs 22.96 crore during the corresponding period last year. Net sales went up 12 per cent to Rs 314.37 crore.
CESC Ltd has bagged a consultancy contract of $2.5 million (Rs 13.7 crore ) a year in power distribution sector in Nigeria.
Industry News
The IIP for the month of September 2012 stands at 163.6, which is 0.4% lower as compared to the level in the month of September 2011 due to dismal show by manufacturing sector and decline in consumer as well as capital goods output. However, it was 2.5 per cent in September last year.
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