Essar Oil is in the final stages of negotiations to raise $100 million (about Rs 407 crore) through external commercial borrowings (ECB) for expansion and upgradation of its crude refinery in Khambalia, Gujarat.
Financial bids for the government's residual 10.27 per cent shareholding in Maruti Udyog, will be opened on 10th May 2007.
Tata Tea signed a joint venture agreement with Zhejiang Tea Import and Export (ZTIE) company of People's Republic of China The agreement involves setting up a joint venture company at the Economic Development Zone of Anji County, Zhejiang, for the manufacture and marketing of green tea polyphenols, other green tea extracts.
The Foreign Investment Promotion Board (FIPB) issued the letter of approval to Vodafone International Holdings BV for going ahead with its proposal to acquire an effective shareholding of 51.96 per cent in Hutch Essar Ltd from HongKong- based Hutchison Telecom International Ltd.
The Indian shareholders of Lintas India have agreed to sell their 51 per cent stake in the advertising agency to the Interpublic Group (IPG), which holds the balance 49 per cent.
GAIL India's FY07 net profit was up at Rs 2,545 crore versus Rs 2,439 crore . Its Q4 net profit was up at Rs 681 crore from Rs 409 crore.
Kotak Mahindra Bank registered profit after tax of Rs 170 crore in fourth quarter of FY07 versus Rs 156 crore in Q4 of FY06. Net interest income stood at Rs 329 crore as against Rs 201 crore FY07 NIM stood at 5.2%.
Syndicate Bank has reported net profit of Rs 716 crore in FY07 as against Rs 536 crore in FY06. It has posted net profit of Rs 104 crore in fourth quarter of FY07 compared to Rs 10 crore in Q4 of FY06 and net interest income of Rs 604 crore versus Rs 394 crore.
Dabur India has declared its Q4 and FY07 consolidated results. Its net profit stood at Rs 76 crore versus Rs 63 crore in corresponding quarter previous year. Net sales increased to Rs 577 crore from Rs 480 crore YoY.
Anand Rathi - Daily Fundamental Snippets - May 9 2007