Infrastructure Development Finance Company reported an 18.6% increase in consolidated net profit at Rs 381.2 crore for the quarter ended December 2011. In the same period a year ago IDFC's net profit was Rs 321.4 crore.

IDFC Q3 net up 18% at Rs 381 cr

Business Standard

In a major blow to the Forward Markets Commission (FMC), the Gujarat High Court has set aside the commodity markets regulator's order against Kailash Gupta, the promoter of Ahmedabad&ndash;based National Multi Commodity Exchange (NMCE).

FMC gets jolt in Kailash Gupta case as Gujarat HC sets aside order

The State Budget size for 2012-13 has been pegged at Rs 52,000 crore 15.8 per cent higher than total outlay of Rs 44,878.97 crore of the previous fiscal.

State Budget size pegged at Rs 52,000 cr

The Supreme Court on Friday asked mining companies in Karnataka to sit with the centrally empowered committee (CEC) and draw up a reclamation and rehabilitation plan for the region where the excavation has done environmental damage.

SC tells Karnataka mining firms to draw up rehab plan

Due to higher prices of domestic chromite ore, Jindal Stainless Limited (JSL) has decided to increase import of chrome ore for use at its one-million-tonne stainless steel plant at Kalinga Nagar, in Jajpur district.

JSL to scale up chromite imports for Orissa plant

Mumbai-based pharmaceutical company Lupin Limited is planning to invest $20 million in setting up a new manufacturing facility in Pune, according to company president Cyrus Karkaria.

Lupin plans $20-mn facility in Pune

Indian vaccine companies may lose the pricing edge as the imminent entry of Chinese companies is likely to change the supply landscape in the world, according to Mahima Datla, senior vice-president of Hyderabad-based Biological E Limited.

Indian vaccine firms to face Chinese threat

The company had posted a net profit of Rs 442 crore in the corresponding quarter last financial year.

Tata Power Q3 net dips 40% Rs 263 cr

Reliance Communications reported a 61.2% fall in consolidated net profit at Rs 186 crore as against Rs 480 crore in the same period a year ago.

RCom Q3 net falls 61% to Rs 186 cr

Foreign institutional investors (FIIs) were net buyers of Rs 196.12 crore (provisional) today, according to data released by BSE.

FIIs net buyers of Rs 196 cr in cash mkt today

A 36% jump in consolidated net profit of Tata Chemicals was seen for the quarter ended December 2011. It increased from Rs 164.5 crore in December 2010 to Rs 223.7 crore.

Tata Chemicals Q3 net surges 36% to Rs 223 cr

Glenmark reported strong sales growth of 34.5 per cent YoY, ahead of analysts and street estimates driven by US, EU and RoW formulation segments. The disappointment came in from the high-margin domestic segment, which grew by mere 11.3 per cent YoY, impacted by inventory rationalisation. The company also incurred higher R&amp;D cost during the quarter. In spite of strong rupee depreciation, Glenmark reported recurring operating margin of 18.0 per cent, well below estimates. Pinc Research has cut its FY13 earning estimates by three per cent to factor in higher R&amp;D expenses which are offset by lower tax rate. Downgrade to Accumulate.

Analysts' corner

IT consulting and outsourcing company, Mahindra Satyam (formerly Satyam Computer Services Limited), has signed an agreement with New Delhi-based Dion Global Solutions Limited to acquire a strategic stake in the latter by way of fresh issue of equity shares.

Mahindra Satyam to pick up 15% stake in Dion Global

Apollo Hospitals Enterprise reported a jump of 41% in net profit at Rs 64.65 crore for the quarter ended December 2011 on robust growth across all business verticals.

Apollo Hospitals Q3 net jumps 41% to Rs 64 cr

Bharat Petroleum Corporation Ltd (BPCL) today posted a 17-fold jump in net profit for the third quarter ended December, 2011, to Rs 3,140 crore. Net profit for the corresponding quarter last year was at Rs 187 crore.

BPCL Q3 net jumps 17-fold to Rs 3,140 cr

Analjit Singh will be appointed non-executive Chairman of Vodafone India, the telecom major said in a press release today.

Analjit Singh to be chairman of Vodafone India

A Confucius Institute will be inaugurated in Mumbai University in the new few months, according to Rajpal Hande, Director, Board of Colleges and University Development, Mumbai University. This will be the first Confucius Institute in India.

Confucius Institute to set up first branch in India

The Cabinet on Thursday cleared the National Data Sharing and Accessibility Policy to facilitate data sharing and enable access to government-owned data for national planning and development. The move is expected to help frame effective national policies.

Nod for national data-sharing policy

Close on the heels of Chief Minister Naveen Patnaik announcing a judicial probe into spurious liquor killings, the state excise minister A U Singh Deo who was in the line of fire of the Opposition, has resigned owing moral responsibility for the incident.

Orissa excise minister resigns over hooch deaths

In what made it the first micro insurance agent of L&amp;T Insurance, Ahmedabad-based VimoSEWA entered into a strategic partnership with the former. The national insurance cooperative promoted by SEWA (Self Employed Women's Association), VimoSEWA will distribute micro insurance products specially designed to cater to the diverse needs of women workers of the informal economy and their families.

L&T Insurance, VimoSEWA join hands

The government on Thursday paved the way for defence public sector undertakings (PSUs) to go for joint ventures (JVs) or form consortia with private sector companies.

BS Reporter