HCC realty foray
Mumbai, April 14: Hindustan Construction Company (HCC) plans to enter the real estate business with an initial investment of Rs 1,000 crore. S.K. Dharmadhikari, HCC’s senior vice-president (marketing and tendering), had recently said the company was executing projects worth Rs 2,000 crore. This includes nuclear plants and irrigation projects in Andhra Pradesh and Kerala. He said the company’s turnover, which stood at Rs 2,028 crore with a net profit Rs 124.8 crore last year, was expected to increase to over Rs 2,500 crore this year.
Dhaka, April 14: The Tata group has renewed efforts to gauge the mind of the caretaker government regarding its proposed $3-billion investment projects in Bangladesh. The group’s resident director, Manzer Hossain, met communications adviser, M.A. Matin, and discussed the latest developments related to the group’s proposed investments in the country.
Mumbai, April 14: Reserve Bank deputy governor Rakesh Mohan has said policy-makers need to watch the evolving global economic situation “carefully” and be prepared to "respond to emerging challenges promptly and effectively”.
Mumbai, April 14: Pipe manufacturer Finolex Industries’ net profit jumped 13.60 per cent to Rs 17.45 crore in the January-March quarter from Rs 15.36 crore in the year-ago period. Total income (net of excise) grew 41.93 per cent to Rs 316.08 crore in the quarter from Rs 222.70 crore a year ago.
Kanpur, April 14: Work at LML (India) Ltd’s unit here will restart from tomorrow with the management and labour unions reaching an agreement to resolve their differences. Under the agreement, the management will pay the balance bonus and will not terminate the services of any employee.
Mumbai, April 14: The government has allotted a coking coal block to SAIL to enable the company to meet its coal requirements. The company has been allotted Sitanala coking coal block, which is under the Bharat Coking Coal Ltd (BCCL).