News Capsules

• Driven by higher prices of fuel items like petrol and diesel,
inflation rose marginally to (-) 1.21 per cent for the week ended July 4 against (-)1.55 per cent in the previous week. The wholesale price index during the corresponding week a year ago was as high as 12.19 per cent.
• Tata Motors will distribute all Nano cars from Pantnagar through its new subsidiary, Tata Motors Distribution. It is
now official. Pantnagar would become a permanent home for Nano — the Rs 1-lakh car from Tata Motors.
• Polaris Software Lab Limited has reported 18 per cent growth in net profit for the first quarter to Rs 31.83 crore as
against Rs 27.01 crore in the same quarter last year. Income from sales has increased to Rs 325.52 crore as against Rs 316.97 crore in the same quarter last year.
• Sterlite Industries, India’s largest copper producer, has
raised $1.5 billion (Rs 7,305 crore) through American Depository Shares (ADS), the largest US share sale from India in two years, to develop its power generation business and fund acquisitions.
• Betting big on India's spending on the infrastructure sector, Larsen & Toubro stood by its stated outlook of 25 per cent growth in order inflows for the current year though the first quarter ended with a negative note. The engineering major's order book shrunk by 22 per cent in the first quarter of the current fiscal at Rs 9,571 crore as compared to Rs 1,22,34 crore in the corresponding quarter previous fiscal.
• Stricter cost control measures undertaken by the Pune-based, India's second biggest motorcycle maker, Bajaj Auto
has helped it post a growth of 67 per cent in net profit at Rs 293 crore for the first quarter ended June 30, 2009.
• Bajaj Holdings & Investment reported a consolidated net profit of Rs 385.08 crore for the first quarter ended June 30,
a seven-fold rise over the same in the year-ago period. The company had a consolidated net profit of Rs 51.37 crore during the June quarter a year earlier
• Welspun-Gujarat Stahl Rohren Ltd has posted 94.27 per cent rise in its net at Rs 138.21 crore for the first quarter of
financial year 2010 as compared to Rs 71.14 crore it posted in the corresponding period last year.
• Zee Entertainment Enterprises has registered a 5.6 per cent drop in its net for the first quarter of current fiscal as
competition from new channels dented its revenues. The company posted consolidated net profit of Rs 91.32 crore in Q1 of FY 2010 as compared to Rs 96.81 crore it posted in Q1 of FY 09. Its net sales also dipped by 7.35 per cent at Rs 475.93 crore as compared to Rs 513.74 crore in the corresponding quarter previous financial year.