The Hindu Business Line : Thursday, January 29, 2009

CORPORATE

FINANCIAL PERFORMANCE: Steel majors take a hit in Q3 as demand dips, costs rise
Tata Steel net halves; JSW Steel reports net loss of Rs 128 cr. Mumbai, Jan. 28 Slackening demand for steel due to the economic slowdown and a sharp rise in prices of raw materials, especially coal, have made a major dent on the bottomlines of ...

NEW PROJECTS: RPower emerges frontrunner for Tilaiya power project
Lowest bidder at Rs 1.77 a unit. Mumbai, Jan. 28 The Anil Ambani group controlled Reliance Power Ltd has emerged as the front-runner for the 4,000 MW Ultra Mega Power Project at Tilaiya in ...

FINANCIAL PERFORMANCE: ONGC’s Q3 net dips 43%
Impact of low crude prices, higher subsidy payout. New Delhi, Jan. 28 Low crude oil prices and high subsidy payout had their impact on ONGC’s performance in the third quarter of the current fiscal (FY09). The company’s net profit for ...

INSIGHT: Rules of promoter-less corporates
Now, after the Satyam scam, a furious debate on corporate governance is on in India. Like the US had debated it, even more furiously, after Enron and Worldcom scams. The author of the current Indian debate undoubtedly is Ramalinga Raju. To ...

OUTLOOK: Spice Energy’s oil, gas investments hit by meltdown
Kolkata, Jan. 28 The economic meltdown seems to have impacted the implementation of a slew of big budget investments – primarily in the areas of oil and gas and power – proposed by the Delhi-based Spice Energy ...

ECONOMIC OFFENCES: RBI Governor briefs standing panel on finance on Satyam case
New Delhi, Jan. 28 The Reserve Bank of India (RBI) Governor, Dr D. Subbarao, on Wednesday deposed before the Parliamentary Standing Committee on Finance on the fraud-hit Satyam Computer Services matter. The RBI Deputy Governor, Ms Usha ...

FINANCIAL PERFORMANCE: HPCL posts net loss of Rs 422 cr in Q3
Mumbai, Jan. 28 Hindustan Petroleum Corporation (HPCL) has reported a net loss of Rs 422.03 crore in the third quarter of this financial, as against Rs 15.74 crore in the same period ...

FINANCIAL PERFORMANCE: India Cements net halves on high production costs
Chennai, Jan. 28 India Cements has reported a nearly 50 per cent drop in net profits for the third quarter ended December 31, 2008. The company has also decided to defer plans to set up one of the two production facilities it had announced in ...

FINANCIAL PERFORMANCE: GAIL net falls 59% on subsidy burden
New Delhi, Jan. 28 Heavy subsidy payout in the third quarter of the current fiscal strains GAIL (India) Ltd, with the company’s net profit declining by 59 per cent. Its net profit for the quarter ended December 31, 2008 dipped to Rs ...

NEW PROJECTS: Areva to commission 3 facilities by March
New Delhi, Jan. 28 Areva T&D India said on Wednesday that its capacity expansion plans were ...

FINANCIAL PERFORMANCE: Ashok Leyland Q3 profit plunges 84%
Chennai, Jan. 28 Ashok Leyland’s net profit for the third quarter ending December 2008 dropped to Rs 18.9 crore, an 84 per cent drop over the Rs 120 crore recorded during the corresponding period last ...

FINANCIAL PERFORMANCE: Global slump drags Nalco
Bhubaneswar, Jan. 28 National Aluminium Company Ltd (Nalco) has achieved a net profit of Rs 219.46 crore, on a sales turnover of Rs 1,091.97 crore, for the third quarter, according to a ...

DIVIDEND ANNOUNCEMENT: Dabur Q3 net grows 15%
New Delhi, Jan. 28 Dabur India reported a 15 per cent growth in standalone net profits at Rs 104.7 crore, for the quarter ended December 2008. Net sales grew 16 per cent to Rs 673.6 crore during the ...

CORPORATE GOVERNANCE: Inflated cash and bank balances, most shocking in Satyam
Could analysts have unearthed the malaise in the reported statements of Satyam? Or, at least, what lessons can they take away from this episode and apply to other statements? Pose these questions to Mr Siva ...

PERFORMANCE: HDIL’s growth slows due to real estate woes
Airport slum rehabilitation project on track. Substantial correction in prices of transferable development rights (TDR), cut back on land purchase by developers and TDR sales that are yet to be booked led to a decline in revenues and profits for ...

Columnists: • C Gopinath • Harish Bijoor • Ramanujam Sridhar • Radhika Chada • K Srikrishna

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Markets (Jan 28)

Nifty (at close)	2,849.50(+78.15)
US Dollar (Buy/Sell)	48.85/86
Brent crude (a bbl) Rs	2,094
Gold (a gram) Rs	1,285
Silver (a kg) Rs	20,565

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Areva to commission 3 facilities by March

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Drug prices increased

Ramalinga Raju’s bail plea dismissed

TCS signs $100-m deal with UK co

Looking back
Jan. 18-Jan. 24
Satyam: ICAI report on Price Waterhouse role in 30 days

Daiichi Sankyo must honour Rs 160/share commitment: Zenotech

Cairn’s discoveries in Rajasthan block commercially exploitable

Satyam: Obvious caution signs ignored

MRPL records Rs 285-cr loss on falling crude prices

Damodaran questions quarterly result practice

United Spirits plummets 23% after weak Q3 nos

IOC sees window to convert forex loans into rupee

Godrej declares pledging details of shares in Consumer Products

Banks assist CID in Satyam probe