VSNL has signed an MoU with leading global telecom firms to construct a new sub-marine cable linking India, West Asia and western Europe. The memorandum has been signed among Etisalat, Saudi Telecom, Telecom Egypt, Telecom Italia Sparkle and VSNL, according to a company statement. The cable will connect the regions including India, UAE, Saudi Arabia, Egypt, Italy and France, it said.
Riddhi Siddhi Gluco Biols Ltd’s (RSGBL) net profit for the quarter ended September 2006 was Rs 5.39 crore against Rs 2.65 crore in the corresponding quarter in the previous year.
Fitch Ratings has affirmed the national long-term AA(ind) rating of Dewan House Finance Corporation Ltd (DHFL). The national ratings of the company’s Rs 200-crore non-convertible debentures, its Rs 200-crore fixed deposit programme and its Rs 20-crore short-term debt programme were affirmed at AA(ind), tAA(ind) and F1+(ind) respectively.
Aptech Ltd has acquired a 70 per cent stake in Mumbai-based Synergetics Information Technology Service India Pvt Ltd for Rs 3.5 crore. Aptech plans to infuse an additional capital of Rs 5 crore in Synergetics within the next 24 months by way of growth capital. Synergetics is engaged in high-end IT training vertical business.
DS Constructions has won the bid to develop, construct and operate the 260-mw Kutehr Hydro Project in Himachal Pradesh. This is the second hydro electric power project on a BOT basis — the first being the 1,000-mw Naying hyrdo electric project in Arunachal Pradesh.
Garden Reach Shipbuilders & Engineers Ltd’s profit before tax for 2005-06 was Rs 101.27 crore. The company has recently paid a dividend of Rs 12.38 crore to the government for the year.
HP has recently launched five business PCs, a thin client solution and three monitors. The latest suite of products can support the latest Intel Core 2 Duo processors and Intel vPro technology as well as technologies that enhance desktop PC security and manageability.
Praj Industries’ net profit for the second quarter of this fiscal was Rs 17.49 crore against Rs 4.66 crore a year ago. Profit before tax was Rs 22.61 crore compared with Rs 6.71 crore.
Masahiko Kaji, president of TCS Japan, was wrongly identified as Shinobu Chibu, vice-president of Citibank Japan, in the caption that appeared in the October 19 edition of the Business Telegraph. The error is regretted.
