News Capsules

• Tata Motors, the country’s largest truck producer, posted an increase of 57 per cent in net profit, thanks to an altered
accounting policy and tight cost measures adopted in the first quarter. The company, which revealed its standalone results today, reported a net profit of Rs 513.8 crore for the quarter ended June 30 against Rs 326.1 crore in the corresponding quarter a year earlier.
• NTPC Ltd, India’s largest power generator, has posted a 27 per cent rise in net profit for the quarter ended June 30 ‘09.
The higher profit is primarily attributed to the generation growth of 11 per cent. Around 2,000 MW of its power generation capacity went commercial since the previous quarter. This resulted in increased sale of electricity.
• Gas Authority of India Ltd (Gail), the country’s largest gas marketing company, would invest Rs 8,000 crore to expand its pipeline network. Of this, Rs 7,600 crore would be invested in constructing a 2,050-km pipeline from Jagdishpur to Haldia. So far, this is the single largest investment in any pipeline by Gail.
• Engineering and construction firm Punj Lloyd consolidated net profit rose 13.68 per cent growth to Rs 127.16 crore in the
first quarter of the fiscal and the company said it plans to raise Rs 1,250 crore. The company will raise the amount through qualified institutional placement and issuance of non-convertible debentures.
• Pipe maker Jindal Saw today posted a jump of 94 per cent in its net profit to Rs 135.99 crore for the second quarter
ended June 30, over the same period a year ago and is hopeful of a better quarters ahead. Total income of the company rose to Rs 1,501.11 crore in the latest quarter of current financial year (2009-10) from Rs 1,018.16 crore of the corresponding period last year, Jindal Saw said in a filing to the Bombay Stock Exchange (BSE).
• The company is planning a capital expenditure outlay of Rs 2,100 crore for 2009-10 on re-tooling the plant for
production efficiencies, developing new models, R&D activities and expanding production of its K-Series engine.
• Anil Ambani firm Reliance Natural Resources (RNRL) plans to raise funds through qualified institutional placement (QIP) of shares. The company will place a special resolution pertaining to the fund raising on Tuesday at its annual general meeting.