Net profit of the Housing Development Finance Corporation (HDFC) rose 17.27 per cent to Rs 1,555 crore during Jan-Mar 2013 quarter on a standalone basis. The financial institution attributes the growth in profit to rising loan book and maintaining of margins. Net interest margin of the company was 4.2 per cent while the spread was 2.3 per
Tag: investment
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STFC to raise Rs 20 bn via bonds
Shriram Transport Finance Company (STFC) decided to raise Rs 2,000 crore by the way of non convertible debentures in 2013-14 in one or more tranches. The company said this while announcing earnings results for the entire financial year 2012-13. Its net profit rose 8 per cent to Rs 1,361 crore year on year during 2012-13
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Tidco to implement Rs 35 bn worth projects
State Chief Minister J Jayalalithaa informed the assembly that the Tamil Nadu Industrial Development Corporation (Tidco) would implement Rs 3,500-crore worth projects across port, power and natural gas sectors. The project includes a deep water port, floating storage re-gasification unit and a 500 mw gas-based power plant in the southern district of
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SAIL’s expansion project faces delay
The Parliamentary Standing Committee on Coal and Steel expressed concern about the lack of progress in the production performance of the Steel Authority of India (SAIL). During each of the last four years, the firm's production remained stagnant around 14.5 mn t of hot metal, 13.6 mn t of crude steel, 12.8 mn t of saleable stee
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Govt supports dredging projects of major ports
Union Minister for Shipping GK Vasan informed the Lok Sabha that his ministry provides budgetary support to major ports to undertake capital dredging projects. He said the three major ports i.e. Chennai, Ennore and Vishakapatnam have navigational channel having more than 17 metre draft and are capable of handling larger vessels. Also, the government has been providing subsidy to meet the cost of maintenance dredging in Kolkata Port whi
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India envices interest in port, gas pipeline projects of Iran
During his recent visit to Iran, India's External Affairs Minister Salman Khurshid said his country is ready to participate in the Iran-Pakistan natural gas pipeline project and to invest in the development of the Iranian port of Chabahar. It may be recalled that originally, the project involved India, Pakistan and Iran and it was named Iran-Pakistan-India (IPI) or Peace Pipeline. However, in the cour
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Govt failed to attain capacity target in 11th plan
Union Shipping Minister GK Vasan informed that the estimated capacity expansion for the 12 major ports by the end of the 11th Five Year Plan (2007-12) was 1001.80 million tonne (mn t) per annum according to the 11th Plan working group report for port industry. India at present has 12 Major ports Mumbai, Jawaharlal Nehru Port, Kandla, Kolkata-Haldia, Paradip, Visakhapatnam, Ennore, Chennai, VO Chidambaranar (formerly Tuticorin), Cochin, New Mangalore and Mor
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Govt wants Kandla, JN ports to invest in Iranian port
Media reports suggest that the union shipping ministry wants Jawaharlal Nehru port (JNPT) to operate a container terminal at Chabahar port in Iran. It may be recalled that the union cabinet cleared a proposal to participate in the development of the Iranian port. Also, during his latest visit to Iran, India's External Affairs Minister Salman Khurshid announced that India woul
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Cargo volume declines 6% in major ports
At 43 million tonne (mn t), cargo volume at the 12 major ports in the country declined 6.2 percent in April from 46 mn t in the year-ago month. The fall in cargo volume is mainly attributed to a decline in cargo handling at Mormugao Port in Goa as well as Mumbai Port
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Vested interest dominate agenda of major ports; experts
Experts allege that the board of boards of trustees of the 11 major ports in the country are filled with people who promote their own interests rather than that of the ports. They point out that the boards are composed of shipping agents, defence and navy personnel, officials of the directorate general of shipping, Indian Railways offic