Hyderabad-based Ramky Estates and Farms Limited (REFL), the real estate and property development arm of the over Rs 3,000-crore Ramky Group, is investing Rs 1,700 crore in various projects encompassing a built-up area of 5 million sft down south, even as it is looking at entering newer markets like eastern India during the next financial year.

Ramky Estates charts Rs 1,700 cr expansion in south

Business Standard

Speaking to reporters in connection with a business meet with local companies and prospective investors from the state, Australian trade commissioner Michael Carter said negotiations with AP companies on entering their country&rsquo;s farming sector were under way. Similarly, some Australian companies are showing interest in bringing their expertise in deep-sea fishing to the shores of AP.

AP firms to take up farming in Australia

Tata Consultancy Services, India&rsquo;s largest information technology services provider, on Wednesday announced a joint venture (JV) with Mitsubishi Corporation, to increase penetration in Japan, the world&rsquo;s second largest IT market.

TCS in JV with Mitsubishi for Japan mkt

Hyderabad-based Titan Energy Systems is likely to dilute 25 per cent of its stake for valuation during the third quarter of the next financial year.

Titan Energy likely to dilute 25 % 

Tube Investments of India Limited (TII), part of the Murugappa group, is planning to set up two facilities in Chennai with an investment of around Rs 200 crore to manufacture tubes, and automotive and industrial chains. The company is also planning to set up a bicycle manufacturing unit in Orissa with an investment of around Rs 65 crore, said a senior official.

TII plans Rs 200 cr spread

The Jaitapur nuclear power plant project, which is going to be built as part of the India-France civilian nuclear cooperation agreement, would take off soon, Bernard Bigot, chairman of the French Alternative Energies and Atomic Energy Commission said here on Wednesday.

Jaitapur nuclear plant making progress

Ahead of Budget 2012-13, finance minister Pranab Mukherjee today rang the alarm bell over rising subsidies, even as the farm and food ministries conveyed differences over the proposed Food Security Bill, which would also mean a hole in the Centre&rsquo;s exchequer. Mukherjee was speaking at a conference on targeted PDS and storage.

Losing sleep over enormity of subsidies, says Pranab

Indirect tax collections figure on Wednesday corroborated dismal performance by manufacturing this financial year as shown by advance GDP numbers yesterday. Excise duty collections again contracted in January, refusing to show a firm rising trend this financial year. Excise duty collections growth was in negative zone at 1.1 per cent in January to Rs 12,319 crore against Rs 12,458 crore in the same month a year ago.

Indirect tax collections up, to meet FY12 Budget estimates

Apollo Hospitals Enterprise Limited, the country&rsquo;s largest hospital chain, is planning to raise around Rs 100 crore to fund its operations, according to a senior official of the company.

Apollo likely to raise Rs 100 cr

Buoyed by the growth in residential sector in Gujarat, Daikin Air-conditioning India Pvt. Ltd., a 100 per cent subsidiary of Daikin Industries Ltd., Japan is eyeing growth in its market share in the state to 12 per cent.

Daikin eyes 12% mkt share in Guj

India is in the early stages of development and marketing of medical devices. It was not just medicine, but also IT, engineering and pharmaceuticals together that make better medical devices, and India is all ready to have them all in one place, said Dr Jai Pal Singh, Chief Scientific Officer and Vice President of Research, St. Joseph Translational Research Institute and Emory Healthcare System in Atlanta, USA, here in Bangalore at the Bangalore India Bio 2012. He said, according to statistics in 2010, the US had the largest market of $200-300 billion while India had a market of only $2.4 billion.

'India is in early stage of developing med devices'

The three ministers from the Bharatiya Janata Party (BJP) government in Karnataka resigned on Wednesday after two of them were caught on TV cameras while watching an obscene video clip on a mobile handset in the state legislative assembly during the session on Tuesday.

Setback for BJP as three 'porngate' ministers quit

Even as the Central Empowered Committee (CEC) has recommended the deletion of the reference to Western Ghats in the earlier report of the Indian Council of Forestry Research and Education (ICFRE) in its report, the mining industry has said it is feasible to conduct mining in the eco-sensitive region.

Underground mining in Western Ghats safe: FIMI

Cognizant Technology Solut-ions, the US-based global provider of information technology, consulting and business process outsourcing services, says it had 16.4 per cent growth in net profit, to $240.1 million, during the quarter ended December 31, as compared to $206 mn in the same quarter a year before. Revenue rose to $1.7 bn from $1.3 bn, up 26.9 per cent from the year-ago quarter.

Cognizant net up 16%, reshuffles management

To bring more transparency in capital markets, the Securities and Exchange Board of India (Sebi) on Wednesday said listed firms would have to disclose details of the utilisation of funds raised through warrants. The new rule, a part of its amendments to the equity listing agreement, will take effect immediately.

Disclose fund utilisation of warrants: Sebi to companies

GMR Infrastructure has reported a net loss of Rs 108 crore for the third quarter of FY12 &mdash; nearly five times more than the Rs 22 crore net loss during the year-ago period. High interest costs on net debt of Rs 23,000 cr and lack of increase in the Delhi airport development fee, pending before the Centre, are the main reasons for the steep loss, the company said.

GMR net loss widens to Rs 108 cr

India&rsquo;s largest private telecom company, Bharti Airtel, on Wednesday reported an eighth straight quarter of decline in net profit &mdash; sending its share down 6.6 per cent &mdash; on lower mobile phone use by customers.

Bharti Airtel net dips on lower mobile phone use

Hewlett-Packard, world's second largest computer maker, is eyeing the small business segments in the state, which is poised to emerge as one of the major investment destinations in the Information Technology (IT) sector.

BS Reporter