The Tamil Nadu government is expecting a central policy, which would give a boost to offshore wind energy projects. The state is also looking at various sources for renewable energy. Sudeep Jain, chairman, Tamil Nadu Energy Development Agency (TEDA), said the Ministry of Renewable Energy had set up a committee to examine the potential of offshore wind energy. The committee is expected to submit its report in 45 days.

TN awaits policy on offshore wind energy

Business Standard

The Kerala State Electricity Regulatory Commission on Thursday announced a steep hike in tariff across all sections of consumers.

Power tariff up 30% in Kerala

After mulling a venture capital fund of Rs 2,000 crore to promote research and development (R&amp;D) in the pharmaceutical sector, the Centre government is planning to set up similar funds in textile and agro sectors too.

Centre to set up textile and agro funds

The state government has decided to wait for Supreme Court decision on Presidential reference on allocation of natural resources before granting any mining leases for coal and other minerals to user industries with whom it has signed memorandum of understanding.

Govt to wait for SC guidance over mines allocation

In its effort to impart quality professional courses, the state government has approved Rs 10 crore for establishing a branch of Xavier Institute of Management (XIM) at Sambalpur.

Odisha approves Rs 10 cr for XIMB's new campus

The government is committed to encouraging the involvement of the private sector in defence, especially in the strategic electronics space, said Union Minister of State for Defence M M Pallam Raju here. He also added, this should bolster the indigenisation of defence technologies and help increase the role of SMEs and also help face any external threat.

Centre for greater role of SMEs in defence electronics

Multi-business conglomerate ITC posted a 20 per cent jump in net profit at Rs 1,602 crore for the quarter ended June, beating market expectations, albeit marginally. Net profit in the corresponding period last year stood at Rs 1,332 crore.

Cigarette sales push ITC net up marginally

Trades between FIIs generated a volume of Rs 28 crore on the BSE Thursday-an decrease of 12.28% from Rs 32 crore clocked on Wednesday. As many as four stocks witnessed trades of 2.32 lakh shares on Thursday.

FII-TO-FII: Pantaloon traded at 10% premium

Holcim group of Indian companies &mdash; ACC and Ambuja Cements &mdash; has beaten the Street expectations in terms of a sharp increase in its profitability for the April-June quarter. Rise in realisation, coupled up with higher sales volumes, helped the sister companies post gains between 25 per cent and 35 per cent in their profits, against brokerages&rsquo; estimates, which were as low as 3.4-11 per cent.

ACC & Ambuja beat Street expectations in Q1

Bharat Heavy Electricals Ltd (BHEL), the country&rsquo;s largest power equipment manufacturer, has posted a 13 per cent jump in net profit at Rs 920.9 crore for the quarter ended June, against Rs 815.5 crore recorded in the same quarter last year. Total income was up 17 per cent at Rs 8,805 crore, compared to Rs 7,520.1 crore in the corresponding quarter.

BHEL Q1 net up 13%

French food multinational Danone has completed its acquisition of Wockhardt Group&rsquo;s nutrition business.

Danone concludes Wockhardt deal 

Almost a month long strike at its denim fabric manufacturing plant at Naroda has taken a toll on Arvind Ltd.

Strike erodes Arvind's net

Orient Green Power Company, the renewable energy arm of Rs 50,000-crore Shriram Group, has offloaded its entire stake in Powergen Lanka (Pvt) Ltd, a subsidiary in Sri Lanka. The value of the transaction is estimated to be around $8 million.

Orient Green divests stake in Powergen Lanka

Non-banking finance company, Shriram Transport Finance Company (STFC), is planning to expand its presence in the rural markets (villages with around 10,000 population) and expects to garner around 5 per cent of its total business from this segment by the end of this financial year.

Shriram Transport to up rural presence

Hyderabad-based Granules India Limited reported a 100 per cent growth in net profit to Rs 6.27 crore for the quarter ended June, 2012, as compared with Rs 3.13 crore in the corresponding quarter last year on the back of higher gross profit margins.

Granules net doubles

With the monsoon session of Parliament set to begin, 10 Congress MPs from the Lok Sabha have written to Congress President Sonia Gandhi asking her to appoint Rahul Gandhi as the leader of the House.

Cong MPs want Rahul as Leader of the House

BJP has come out in defence of Gujarat Chief Minister Narendra Modi and alleged there was a concerted effort by the UPA government for the past 10 years to malign him.

BJP defends Modi, says not involved in Gujarat riot

Pune-based industrial energy solutions provider Thermax Ltd has recorded a drop of 16.5 per cent in its net profit at Rs 67 crore, compared with Rs 80 crore for the corresponding quarter last year.

Thermax net down 16.5% at Rs 67 cr

Mahindra Reva on Thursday said it had been awarded &lsquo;Platinum&rsquo; rating from the Indian Green Building Council.

Mahindra Reva facility gets green certificate

Textile player Arvind Ltd on Thursday posted a 48 per cent dip in its net profit at Rs 32 crore for the quarter ended June, down from ~61 crore for the same quarter last year.

BS Reporter