Daily Fundamental Snippets

Reliance Communications has planned to build the world's largest Internet protocol (IP) network over submarine cable systems with an investment of $1.5 billion (Rs 7,000 crore) in the next 3 years.

Punjab National Bank (PNB) and UTI Bank has hiked benchmark prime lending rates.

Thermax is setting up a plant in the People's Republic of China for manufacturing absorption chillers with an investment of $8 million.

Gammon India has emerged as leading bidder for the Rs 1,200 crore offshore container terminal at the Mumbai Port Trust (MbPT).

Varun Shipping has signed a memorandum of agreement (MoA) for acquiring a very large gas carrier (VLGC) with a capacity of approximately 76,644 cbm.

Bajaj has launched its powerful motorcycle, Pulsar 220 DTS-Fi, in Pune.

Bajaj Hindustan Ltd (BHL) has recorded a 36 per cent jump in net profit to Rs 190.83 crore during the financial year ending September 30, 2006 against Rs 140.39 crore registered during the same period last year. The company's revenue has gone up 74 per cent to Rs 1,486.8 crore during FY 2006 against Rs 854.8 crore last year.

Lanco Infratech Ltd has entered into a memorandum of understanding with Jharkhand Government for a 2,640 MW mega coal-based power plant.

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Thanks Yash