Satyam Computer Services posted its results for the quarter ended December 31, 2008, revealing a consolidated net profit of around Rs 160 crore and revenues of Rs 2,414.31 crore.
• Unitech has exited from New Kolkata International Development (NKID) Pvt Ltd, a special purpose vehicle (SPV) formed to develop several large
projects in West Bengal, including the proposed petroleum, chemicals and petrochemical investment region (PCPIR) at Nayachar. Unitech had 40 per
cent stake in NKID.
• Tata Housing, a unit of Tata Sons, is advancing its plans to build 15,000 low-cost dwelling units by two years. Besides, it should add 300 more houses in its Mumbai project to take the advantage of demand for such homes, a top company official said.
• NTPC has agreed to buy natural gas from Reliance Industries but is opposed to paying marketing margin to the private firm and wants to use the fuel at plants other than Kawas and Gandhar that were identified by the government. The government had allocated 2.67 million cubic metres of gas a day of natural gas from RIL’s Bay of Bengal KG-D6 fields to NTPC.
• The Kishore Biyani-led Future Group plans to raise as much as Rs 4,000 crore in the next two years to fund its expansion plans. The group will open
18 Central stores and 45 Big Bazaars in the next one year.
• Satyam Computer Services, reeling under the impact of India’s largest corporate scandal, managed to bag new business orders worth $380 million
(around Rs 1,800 crore), as on March 26, 2009. These deals have come from 215 of its existing clients.
• Shareholders of the Anil Dhirubhai Ambani Group (ADAG) promoted Reliance Infrastructure gave their approval to the proposal to de-merge and
transfer various divisions of the company to separate wholly-owned subsidiaries.
• India’s leading automobile company, Tata Motors, sold 11 million shares of Tata Steel, or 1.5 per cent of the latter’s equity, to promoter company Tata Sons for Rs 456.8 crore.
• GMR Infrastructure Ltd, the Bangalore-based global infrastructure major with interests in airports, energy, highways and urban infrastructure, will
increase its holding in its subsidiary Delhi International Airport Limited (DIAL) by nearly 4 per cent to 54 per cent.
• KSK Energy Ventures Limited, a Hyderabad-based power project development company, has received consent from the Chhattisgarh government to enhance the power generation capacity of the Wardha Chhattisgarh power plant at Nariyara to 3,600Mw
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