News Capsules

Mukesh Ambani-controlled Reliance Industries (RIL) has raised its crude oil production capacity from the D6 block of the Krishna-Godavari (KG) basin, the largest find in the country, to a maximum level of 40,000 barrels per day (bpd) from the earlier 18,000 bpd.

Japanese two-wheeler maker Honda and its Indian partner, the Hero group, wish to further their 25-year-old partnership. Both sell two-wheelers, including motorcycles and automatic scooters, in the same segments, with some cannibalisation already taking place.

Tech Mahindra posted 5.35 per cent increase in net profit at Rs 230.40 crore for the fourth quarter of the past fiscal.

Drug firm Glenmark Generics Ltd has received tentative approval from the US Food and Drug Administration (FDA) for the generic version of cholesterol lowering drug Ezetimibe, sold under the brand name 'Zetia' in 10 mg strength.

Exide Industries, has reported a 9 per cent rise in net profit for the quarter ended March 31 over the corresponding quarter of the previous fiscal to Rs 68.20 crore, mainly on the back of increased operational efficiency as well as volume growth in the replacement market in the automotive batteries segment.

Oriental Bank of Commerce posted a net profit of Rs 196.82 crore in the fourth quarter ended March 31, 2009, while it had incurred a net loss Rs 99.44 crore in the same quarter a year ago.

Areva T&D India said its net profit declined 5 per cent for the first quarter ended March 31, 2009, to Rs 51.40 crore over the same quarter last year.

Bosch Ltd, a supplier of automotive components to original equipment makers (OEMs), has reported 69.4 per cent drop in net profit to Rs 49.3
crore for its first quarter ended March 2009, compared with the corresponding quarter last year. Its net sales for the quarter dropped 20.6 per cent to Rs 991.6 crore.

Aban Offshore said its consolidated net loss during the fourth quarter ended March 31 stood at Rs 93.04 crore, whereas it had a net profit of Rs 33.92 crore in the same quarter last fiscal.

Shree Renuka Sugars said its consolidated net profit grew marginally by 3.75 per cent in the second quarter ended March 31 to Rs 33.2 crore over the corresponding period a year ago.