The Union ministry of commerce and industry has urged the Odisha government to identify suitable land with appropriate power, road and transport linkages for establishment of a National Investment and Manufacturing Zone (NIMZ).

Centre urges Odisha to identify land for NIMZ

Business Standard

While the all India exports figures have declined, Chennai has registered an 11 per cent increase in exports to Rs 30,000 crore quarter on quarter. This was driven by the automobile sector.

Exports from Chennai up 11%

The state government has accorded permission to Andhra Pradesh Power Generation Corporation Limited (APGenco) to set up solar power projects up to a total capacity of 100 Mw at various thermal and hydel project sites.

APGenco to create 100Mw solar power capacity

The trade and industry representatives have expressed disappointment over the sudden mid-course correction in the Value Added Tax (VAT) rates carried out by the state government.

Industry chambers shocked over hike in VAT rate

Gujarat government plans to build a 600-hectare township near the proposed Maruti Suzuki India Ltd&rsquo;s (MSIL) manufacturing factory in Hansalpur near Mehsana, a senior state government official said here. The cost of development is estimated to be about Rs 80 lakh to Rs 1 crore per hectare.

State govt plans township near proposed Maruti factory

Japanese township to come up near proposed Maruti factory

Following the deficient monsoon this season, the state government has swung into action and have begun implementation of the contingency action plan across all the 26 districts of Gujarat.

State govt switches to contingency plan after deficient rains

The state government on Sunday effected changes in senior bureaucratic level amid talks of an impending ministry reshuffle. Some of these changes are likely to impact pending and future investments in power, steel and port projects.

Senior bureaucrats shifted ahead of ministry reshuffle

Irked over a cut in Railway Budget allocation for Odisha to the tune of Rs 186 crore, chief minister Naveen Patnaik has urged the Ministry of Railways to restore the original allocation.

Naveen flays Railways for cut in Budget allocation

South India's largest cement manufacturer India Cements has availed itself of over Rs 500 crore from ICICI Bank and Axis Bank.

India Cements gets Rs 500 cr from ICICI Bank, Axis

Pune-based construction equipment company, Universal Construction Machinery and Equipment Limited, will be expanding its retail format to cities like Srinagar and Jaipur in the next two to three months and will open a total of 35 stores, in metros, Tier-II and Tier-III cities across the country in the next two years. The company has commenced its retail business in Andhra Pradesh with the launch of its &lsquo;Universal Exclusive&rsquo; store in Hyderabad, which will display vertical material handling and concreting equipment. The company will launch its exclusive stores in Chennai, Kochi and Bangalore soon, it said in a press release on Sunday.

Universal to open 35 more stores

Bharat Heavy Electricals Limited (BHEL) has commissioned a 5-Mw grid-connected solar power plant at Shivasamudram near Mandya. This is the single largest solar photovoltaic (PV) power plant in Karnataka.

BHEL commissions 5-Mw solar power plant

Godrej Properties posted a 89 per cent jump in net profit for the June quarter to Rs 25.8 crore, compared to Rs 13.7 crore for in the year-ago period. The company's total income went up 73 per cent at Rs 226 crore, compared to Rs 131 crore in the year-ago period.

Godrej Properties net up 89%

Favourable policy decisions from the Reserve Bank of India (RBI) and the European Central Bank (ECB) this week might help the rupee retrace higher levels against the greenback.

Rupee seen up on rate cut hopes

Mumbai home prices could rise by 15 to 20 per cent every year over the next five years due to heavy demand from buyers, shows a new study by a unit of ICICI Home Finance.

Mumbai home prices set for steady rise, says report

German sanitary brand, Kaldewei, which makes steel enamel bath tubs and showertrays, is eying a turnover of 1.5 million euros (around Rs 10.2 crore) from India during the 2012 fiscal ( company follows a January-December fiscal). The company, which has been supplying bath tubs to hotels made its foray into retail segment with the opening of its first showroom in the country in Ahmedabad on Saturday.

Germany's Kaldewei opens shop in India

Indian Metals &amp; Ferro Alloy Ltd (IMFA), an integrated ferrochrome producer in the state since 1961, has posted 24 per cent drop in net profit in the first quarter of the current fiscal due to financial burden occurred in the capitalisation of its power plant and mark-to-market (MTM) losses incurred in hedging.

Power plant cost, hedging losses sap IMFA Q1 profit by 24%

Mortgage lender Housing Development Finance Corp (HDFC) today announced 25 per cent increase in net profit at Rs 1,276 crore on a consolidated basis. HDFC on a standalone basis had registered a 19 per cent increase in net profit at Rs 1,002 crore over the same period a year ago.

HDFC consolidated net up 25%

United Spirits, the flagship spirits company of the Bangalore-based UB Group, on Saturday reported a net profit of Rs 145 crore for the quarter ended June, a five per cent rise compared with the Rs 138-crore net profit reported in the year-ago period. The company&rsquo;s total income rose 6.6 per cent to Rs 2,073 crore, against Rs 1,944 crore in the corresponding period last year.

Premium brands drive United Spirits net profit

Anna Hazare on Saturday made clear he was not in favour of floating a political party or contesting elections. However, he said he would support good candidates in the coming elections. In a conference, Anna Hazare said he was not bothered about the small crowd at the venue of the protest fast at Jantar Mantar.

Anna for backing 'good' candidates in elections

The country&rsquo;s largest car maker Maruti Suzuki India on Saturday reported a decline of 22.8 per cent in net profit for the quarter ended June on the back of a depreciating rupee, which raised input costs.

BS Reporter