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Govt scouts for lead-managers for NMDC selloff
Taking the disinvestment process in iron ore producer NMDC forward, the government today invited applications for appointment of lead managers to advise it on the timing of the public issue, among other aspects.

India not to accept any legal binding on emission cut: govt
Under attack for its climate policy for Copenhagen summit, the government today said India will not accept any legal binding on emission cut and rejected any proposal that would put a cap on the carbon emission.

News of the day

FMC all set to get more teeth
Autonomy with more powers for the commodity futures market regulator, Forward Markets Commission (FMC), now seems certain with the Reserve Bank of India saying that futures trading cannot be held responsible for the recent spurt in essential commodity prices. This clearly means that futures trading is getting support from policy-makers — a fact that is likely to prompt the government to introduce the Bill granting more powers to FMC in the next Parliament session.
Corporate

NLC, REC, Bajaj Hindusthan, Suven Life & Trent's Q1 result

NLC net rises marginally - M J Antony: Insecure creditors">M J Antony: Insecure creditors - Airtel not affected by global slowdown - REC Q1 net up 73% at Rs 472 cr - Jet focus for next two years will be on cutting debt - Economy can grow 6.5%: RBI survey - NHAI, REC bonds hit by realty slump Neyveli Lignite Corporation Ltd (NLC) has reported a marginal increase in net profit during the quarter ended June 30 at Rs 287 crore, compared with Rs 285 crore. The company’s net sales dropped to Rs 884 crore from Rs 1,087 crore. REC net up 73 per cent Rural Electrification Corporation (REC), the state-owned power sector financier, has posted a 73 per cent increase in net profit at Rs 471.82 crore for the quarter ended June 30 on the back of higher loan disbursements, compared with Rs 272.56 crore posted in the corresponding period last year. Total income of the company also increased 47.5 per cent at Rs 1,508.90 crore in the quarter, compared with Rs 1,022.78 crore posted in the corresponding quarter last year. Bajaj Hindusthan net at Rs 60 cr Riding on high sugar prices, Bajaj Hindusthan — the country’s largest sugar producer — declared on Tuesday a net profit of Rs 60.08 crore for the quarter ended June 30, against a loss of Rs 35.41 crore in the corresponding quarter last year. Net sales, however, dipped 16.40 per cent to Rs 383.64 crore on lower volumes. Suven Life Q1 net up 37% Suven Life Sciences Ltd, a Hyderabad-based biopharmaceutical company specialising in central nervous system (CNS) diseases, reported a net profit of Rs 2.18 crore for the quarter ended June 30, compared with Rs 1.59 crore last year, registering a growth of 37.1 per cent. Revenues, however, saw a marginal decline of 1.91 per cent to Rs 31.28 crore, as against Rs 31.89 crore earlier. Trent’s net drops 38% Tata’s retailing arm Trent has posted a 38 per cent drop in its net at Rs 51.13 crore for the quarter ending June 30, from Rs 82.24 crore it posted in the corresponding quarter previous financial year. It’s net sales dropped 8.19 per cent at Rs 119.40 crore, compared with Rs 130.06 crore it posted in the June quarter of FY 2009.


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