In its recent report on earnings of oil and gas sector, Angel Broking said it expected mixed profitability performance of the companies in this sector during Oct-Dec 2012 quarter. The brokerage expects the top-line of Reliance Industries (RIL) to rise 5.7 percent yoy on account of higher prices of petrochemicals. However, its operating profi
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Brokerage expects mixed profitability of oil and gas firms
In its recent report on earnings of oil and gas sector, Angel Broking said it expected mixed profitability performance of the companies in this sector during Oct-Dec 2012 quarter. The brokerage expects the top-line of Reliance Industries (RIL) to rise 5.7 percent yoy on account of higher prices of petrochemicals. However, its operating profi
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Kolkata Port mulls royalty on cargo handlers
In a bid to increase its revenue, the Kolkata Port Trust (KoPT) is considering to charge a royalty of Rs 25 per tonne on cargo handlers at the Haldia Dock Complex (HDC). The port set up a committee to decide on the royalty that may be charged from cargo handlers. The committee decided upon a rate of Rs 25 per tonne. This is primarily for s
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Sales of RINL rises 5% in Nov
According to a company statement, sales of Rashtriya Ispat Nigam (RINL) grew 5 per cent to Rs 1,085 crore in November from Rs 1,028 crore in the year-ago month. During the month, sales of iron and steel registered a growth of six per cent, while pig iron sales expanded 48 per cent.According to the statement, the company is increasing its prese
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SCI may post losses in 2012-13
Some investment analysts expect Shipping Corp. of India (SCI) to incur losses in 2012-13 too because of depressed freight rates and a slowing global economy. The slowdown in world economy reduces trade and thereby hurts business prospects of shipping firms. In the quarter ended September 2012, the company posted a net profit of Rs 297 crore mainly because of an extraordinary item
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Coke oven battery of Tata Steel goes on stream
As part of its ambitious 9.7 million tonne per annum expansion project in its Jamshedpur facility, Tata Steel commissioned a new coke oven battery No 10 and by-product
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High cost causes Tata Steel to post consolidated loss
For the quarter ending September 2012, the Tata Steel posted a consolidated net loss of Rs 363.9 crore
compared to a net profit of Rs 212 crore for the year-ago period. The company attributed losses to lower steel prices and higher raw material costs, coupled with the poor performance of its Europe division, Tata Steel Europe, whic
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Minister hopes to get revenue to control deficit
Speaking to reporters after a meeting of the Group of Ministers (GoM), Finance Minister P Chidambaram expressed hope of getting revenues from somewhere to control fiscal deficit within 5.3 percent of GDP. He remarked that there is still some time left in this financial year for carrying out disinvestment and auctioning of spectrum in the unbid
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Freight handling rises 5.3% for Indian Railways
The revenue earnings freight carried by Indian Railways expanded 5.30 per cent to 565.37 million tonne in the current financial year up to October 2012
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Net profit, sales decline for ABG Shipyard
Net profit of ABG Shipyard declined more than 32 percent to Rs 32.8 crore during the quarter ending September 30, 2012 from Rs 48.4 crore in the year-ago period. Net sales of the private sector shipbuilder also declined to Rs 543.6 crore during the reporting period from Rs 571.6 crore in the year-ago period.