The Telegraph
Friday , April 27 , 2012
Since 1st March, 1999
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Business Briefs

Extension to jute mission

New Delhi, April 26: The government today approved the extension of the Jute Technology Mission till 2013 and a revision in the allocation of funds. “The cabinet committee on economic affairs has approved the extension in implementation period of the Jute Technology Mission (2006-07 to 2010-11) by two years,” an official statement said.

Shale reserve

Ahmedabad, April 26: The United States Geological Survey has revised downward the recoverable shale gas reserves in India. The agency had estimated the potential shale gas reserves at 63 trillion cubic feet (tcf), which was recoverable. However, figures are much less than the preliminary estimates.

Bata profit

New Delhi, April 26: Footwear retailer Bata India has reported a 67 per cent decline in net profit at Rs 35.99 crore for the March quarter against Rs 109.36 crore in the year-ago period.

SMFL offer

Calcutta, April 26: Auto component firm Samvardhana Motherson Finance Ltd (SMFL), scheduled to hold its initial public offer of Rs 1,665 crore on May 2, has fixed the price band between Rs 113 and Rs 118 a share.

Sistema loss

New Delhi, April 26: Russian conglomerate Sistema has suffered a net loss of $530 million after it wrote off $346 million on account of cancellation of 21 licences of its Indian telecom joint venture.