The Telegraph
Saturday , January 19 , 2013
Since 1st March, 1999
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Business Briefs

Sasan tariff hike plea

New Delhi, Jan. 18: Reliance Power has petitioned the Central Electricity Regulatory Commission for permission to revise the tariff of its 4,000 megawatt Sasan project in Madhya Pradesh because of a rise in taxes and user charges. Reliance Power had in 2007 bagged the project in an international tender quoting the lowest levelised tariff of Rs 1.19 per unit for 25 years.

Gold status

Mumbai, Jan. 18: Terming investment in gold as a speculative activity and not a hedge against inflation, RBI deputy governor K.C. Chakrabarty today said high returns offered by the precious metal only reflected high risks associated with it.

Hindalco buy

New Delhi, Jan. 18: Hindalco Industries has finalised an arrangement to acquire alumina refinery and bauxite mines in Brazil from its wholly owned subsidiary Novelis as part of corporate reorganisation plan.


Mumbai, Jan. 18: IDBI Bank today reported a 1.7 per cent increase in net profit at Rs 416.76 crore for third quarter ended December 31 from Rs 409.81 crore in the year-ago period.        

Merc stand

New Delhi, Jan. 18: Mercedes-Benz India today said it supported industry association Siamís position on not including automobile sector in the proposed free trade agreement with the EU. The company said it might consider making its Chakan facility an export destination if the FTA came into effect.

Hind Zinc

New Delhi, Jan. 18: Hindustan Zinc has posted a nearly 27 per cent jump in net profit at Rs 1,612.54 crore during the quarter ended December, helped by higher revenues from the silver business, rise in other income and decline in tax outgo.

Magma net

Mumbai, Jan. 18: Magma Fincorp Ltd has reported a 174 per cent jump in net profit at Rs 38.1 crore in the third quarter ended December 31. The financial services firmís revenues rose 60 per cent to Rs 445.5 crore.