Bajaj Auto third quarter net up 19% yoy
As per the latest reports, the giant auto sector company, Bajaj Auto has recently announced its third quarter earning reports, showing a growth of 19.19 percent in net profit at Rs 795 crore in the quarter ended December last year.
In the same period of 2011, the company reports a growth of Rs 667 crore.
Bajaj Auto reports a growth of Rs 4840 crore for the quarter under review. However, a loss on derived hedging is announced as Rs 59 crore.
The major automobile company announced high sales of over 1 million units for the third successive time in a row, and reported a revenue of around Rs 5154 crore and export revenue of Rs1710 crore. Read more
Govt. allows 49% stake in Domestic carriers by Foreign Airlines
Decision to allow international carriers to invest up to 49% in domestic airlines has been approved except saying ‘yes’ by cabinet.
This step would really sort out the cash flow management related problems in Indian aviation sector that are at present a big headache for Indian airlines like Kingfisher and Go Air.
After attending a meeting with Pranabh Mukhrjee, the Civil Aviation Minister Ajit Singh informed to Media, “49% FDI is already there.
The question was to allow foreign airlines to participate in FDI. I discussed the matter with the finance minister and he agreed. We will move a note for the cabinet now.” Read more
No extra cost for Aakash from students
With a long range capability Aakash 2 tablet that is having a new protocol as result of ideas from students of IITs and engineering will easily get in and across India having no extra charges.
As per technology sector report, the scope of tablet market is rising very fast and having more in future. Seeing such boosting demand the govt. will order 70,000 improved Aakash tablets from Datawind as soon as or says next month .
Although Aakash tablet, featured by poor quality products, specifications and low battery life, had faced negative response of customers. But the upcoming improved version of Aakash tablet that is of Aakash 2 tablet will be three times faster with high range battery life from Aakash 1. Read more
Reliance Com ties-up $1.18 bn fund for FCCBs
According to the latest news from the business sector of India, Reliance Communications Ltd. (R-Com), the major mobile telephony company of the Anil Ambani-headed Reliance Group, has recently announced a tied up foreign debt to refund the redemption of outstanding foreign currency convertible bonds (FCCB) issued by the firm.
In a statement issued by the company during the stock exchange filing, it announced that the company had managed to gain around $1.18 billion from Industrial and Commercial Bank of China, China Development Bank and Export Import Bank of China and few more lenders to refund the FCCBs that are due for redemption on 1 March.
As per the statement issued by the company, it is said, “R-Com will benefit from extended loan maturity of seven years and attractive interest cost of about 5 percent.” Read more