India's largest private sector firm by market capitalisation and oil refiner Reliance Industries will declare its Q1 June ended quarter results today. Fast-tracking the legal proceedings over the KG basin gas dispute between Reliance Industries (RIL) and Reliance Natural Resources (RNRL), the Bombay High court on Wednesday, 23 July 2008 decided to begin daily hearing between 12 noon and 2 pm from Thursday, 24 July 2008.
Reliance Power is reportedly set to enter the power equipment manufacturing sector in collaboration with the $7-billion global major Shanghai Electric to manufacture boilers, turbine and generators. The proposed manufacturing unit would involve a total investment of about $3 billion and is proposed to be in place by 2010, the reports added.
Century Textiles and Industries (CTI) on Wednesday, 23 July 2008 said it will invest Rs 6,300 crore to develop commercial projects on mill land at Worli and for cement manufacturing capacity expansion, over the next five years.
A clutch of banks, including State Bank of India, Union Bank of India, Canara Bank and some private banks, reportedly plan to join hands to float a new exchange to facilitate trading exclusively in currency futures. The Chicago Mercantile Exchange has approached some of the banks to partner them.
The government will reportedly offload 10% of its shares in Oil India Ltd, the second largest government-owned oil producer, to the three oil marketing companies, Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation, as a pre IPO placement offer.
Azim Mikati, the biggest single shareholder in South Africa's MTN group, is reportedly keen to sell a part of his 11% stake to Bharti Enterprises.
KEC International may reportedly foray into railway infrastructure soon.
BEML and Dredging Corporation of India are reportedly in talks for an alliance to make dredgers.
Net profit of Zee Entertainment Enterprises soared 104.2% to Rs 130.97 crore on a 48.5% increases in sales to Rs 333.32 crore in Q1 June 2008 over Q1 June 2007.
Bharti Airtel, ACC, Idea Cellular, Sobha Developers, Zee News, Allcargo Global, Aventis Pharma, Bhagwati Banquets, Carborundum, Crisil, Cummins India, eClerx Services, Essel Propack, Exide Industries, Greenply Industries, Hindustan Zinc, Mahindra Ugine, Marico, McDowell Holdings, Mirc Electronics, Morepen, MRF, Mysore Cements, NIIT, NMDC, Piramal Healthcare, Rain Commodities, Ratnamani Metals, Rolta India, United Breweries, and United Phosphorous, among others will declare their June ended quarter results today.
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