Sterlite Industries may see action

Sterlite Industries wholly-owned subsidiary Sterlite Energy may reportedly come out with a public offering in next 3-4 months to raise up to Rs 3,000 crore to part finance its expansion plans.

Steel stocks may see action after the steel minister Virbhadra Singh said on 11 July 2009, the country's steel production will almost double to 124 million tonnes a year by 2011-12 from 65 million

National Thermal Power Corporation (NTPC) signed an agreement with the Chhattisgarh government on 12 July 2009 for setting up a 4,000 megawatt coal-fired power plant on an investment of Rs 20,000 crore. NTPC signed two other pacts for setting up an Indian Institute of Information Technology (IIIT) campus and an Industrial Training Institute (ITI) in the state.

As per reports, Bhel plans to form 5 joint ventures in the nuclear sector and locomotive manufacturing and has planned an outlay of Rs 1,000 crore for the proposed joint ventures. Currently, Bhel is holding talks with Areva of France, Toshiba of Japan, Westinghouse of USA and GE Hitachi for building reactors. It has initiated talks with Bharat Forge and Areva for its forgings and castings JV. Sheffield Forgemasters, UK has been appointed as technical partner in the venture.

Allcargo Global Logistics is reportedly exploring acquisition opportunities globally in the non vessel owning common carrier (NVOCC) space while it has put major expansion on hold.

Net profit of REI Agro rose 20.80% to Rs 41.59 crore in the quarter ended June 2009 as against Rs 34.43 crore during the previous quarter ended June 2008. Sales rose 21.78% to Rs 857.79 crore in the quarter ended June 2009 as against Rs 704.38 crore during the previous quarter ended June 2008.

Infomedia 18 reported net loss of Rs 10.72 crore in the quarter ended June 2009 as against net profit of Rs 0.13 crore during the previous quarter ended June 2008. Sales declined 12.90% to Rs 18.90 crore in the quarter ended June 2009 as against Rs 21.70 crore during the previous quarter ended June 2008.

Net profit of UTV Software Communications rose 476.34% to Rs 25.82 crore in the year ended (audited) March 2009 as against Rs 4.48 crore during the previous year ended March 2008. Sales declined 12.26% to Rs 251.19 crore in the year ended March 2009 as against Rs 286.29 crore during the previous year ended March 2008.

Axis Bank, Motilal Oswal, Gammon Infra, and Era Infra among others will unveil their June 2009 quarterly results today, 13 July 2009.