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ZEE aaproves share swap ratio for merger of ETC Network
Zee Entertainment Enterprises (ZEEL) today said its board has approved the share swap ratio for the merger of the company"s subsidiary ETC Networks with itself.

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Govt denies ombudsman for telecom sector
The government today ruled out appointing an ombudsman to redress the complaints of poor mobile telephony services, like call drops, saying state-run BSNL and MTNL were taking effective steps to upgrade technology.

News of the day

Support at 4,900 likely to melt soon
The Nifty remained listless after opening on a positive note on lack of follow-up buying in cash and F&O segments. With traders unwilling to be active at higher levels, the derivatives trading volume dropped significantly by Rs 10,000 crore. The Nifty December futures closed on a par with the spot index and shed 1.24 million shares in open interest (OI), mostly through a blend of buy and sell trades, indicating short-covering and unwinding of long positions. The rollovers in the Nifty January were lower at 0.78 million shares compared to unwinding in the December futures. This indicates that participants are not in a hurry to rollover their positions at the current level.
Public Relations

Rajesh Exports net dips 46% on high input cost

The country’s largest gold jewellery manufacturer and exporter, Bangalore-based Rajesh Exports, has posted 46.43 per cent decline in net profit during the first quarter of the current fiscal on substantial increase in investment in raw material procurement. - Rajesh Exports promoter pledges 15 million shares - IOB's Q1 net profit rises 28% - Kingfisher Airlines posts Rs 242 cr loss in Q1 - NEWSALERT:McDowell Holdings loss widens in Q1 - Corporation Bank net up 41.7 % in Q1 - JSL marches towards profit path amid dumping threat The company reported a net profit at Rs 18.45 crore in the first quarter ended June 30, 2009 as compared to Rs 34.44 crore in the corresponding quarter of the previous fiscal. Net sales of the company shot up, however, from Rs 2332.16 crore to Rs 3672.17 crore in the quarter under consideration. The company attributed the fall in net profit to the inclusive of a number of factors including rising employees costs and 72.12 per cent rise in consumption of raw materials. Its investment on raw material procurement surged steeply to Rs 3819.50 crore during the first quarter of the current fiscal as compared to Rs 2219.08 crore in the comparable quarter of the previous year. Other expenditure, meanwhile, nosedived to Rs 10 lakh from Rs 67.27 crore in the same quarter last year.


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