News Capsules

• After D-6 in the Krishna-Godavari basin, Reliance Industries has struck big in two nearby blocks, with estimates putting the natural gas reserves at 20 trillion cubic feet (tcf).
• The country’s largest truck maker Tata Motors, which had raised Rs 4,200 crore last week through the issue of secured non-convertible debentures (NCDs), has completed the process of raising around Rs 4,800 crore ($1 billion) more through the external commercial borrowing (ECB) route.
• Grasim Industries has suspended production at its Nagda plant in Madhya Pradesh due to requisition of water from one of its reservoirs by district administration following shortage of water in the area.
• Tata Realty and Infrastructure (TRIL), a closely-held unit of Tata Sons, plans to invest Rs 20,000 crore to build special economic zones, roads, ports and other core sector projects in the next three years to take advantage of a stable political environment and revival in the economy.
• Faced with a massive cash-crunch, Maytas Infra, a company promoted by the kin of Satyam founder B Ramalinga Raju, has asked the government not to hastily withdraw projects awarded to it. Maytas Infra has written to the Corporate Affairs Ministry requesting for support from government agencies that have allotted various projects to it.
• Bharat Heavy Electricals Limited (BHEL) reported a rise of 21.35 per cent in the net profit to Rs 1,347 crore in the three months ended March 31, 2009 as against Rs 1,110 crore in the corresponding quarter in the previous year. The equipment major reported nine per cent increase in net profit for 2008-09 at Rs 3,138 crore as compared to Rs 2,859.30 crore in 2007-08. Net sales were up 35.4 per cent at Rs 26,234 crore in 2008-09 compared to Rs 19,365.50 crore in 2007-08.
• Jindal Steel and Power reported 24.27 per cent rise in its net profit to Rs 1,536 crore for the fourth quarter of 2008-09 as against Rs 1,236 crore in the corresponding quarter of last fiscal.
• Godrej Industries reported an 83 per cent dip in its net profit of Rs 18.08 crore for the year ended March 31, 2009, as against Rs 108.81 crore in FY08, mainly due to slump in chemical business.
• Britannia Industries reported a 14.61 per cent dip in consolidated net profit at Rs 151.48 crore in the financial year ended March 31, 2009. The company had a net profit of Rs 177.40 crore in the FY08.