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India to hold meeting of BASIC group partners
India will on Sunday hold a meeting with its BASIC group partners comprising China, Brazil and South Africa in the capital to firm up a common position on the climate front post-Copenhagen.

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Bharti acquires 70% stake in Warid Telecom
Telecom major, Bharti Airtel, has announced that it has agreed to acquire 70% stake in Bangladesh-based, Warid Telecom. Bharti plans to make $300 million fresh investment in the company, thus taking the overall investment to $1 billion. The new funding will be for capacity expansion, coverage and innovative products.

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Hero Group shelves plans to enter CV segment
Diversified business house Hero Group has shelved plans to enter the commercial vehicle (CV )segment, for which it had partnered German firm Daimler to produce trucks, due to the economic slowdown.
International Business

Shree Cements Q3 net rises 35% to Rs 167 cr

Shree Cements has reported 35 per cent increase in net profit to Rs 167.4 crore in the third quarter ended December 31, 2009 as against Rs 124 crore in the same qaurter last year. - Cement despatches: Back in double-digits - Edserv bags contract worth Rs 100cr - Shree despatches 13.81% more in September - Shree Cement expects Rs 3,000 crore turnover in 2009-10 - ICICI Bank Q3 net dips 26% to Rs 1,101 cr - BHEL Q3 net up 35% to Rs 1,072 cr Net sales has increased 30.17 per cent to Rs 866 crore from Rs 665.3 crore. The comapny"s bottomline is below expectations on account of higher depreciation. The company"s depreciation is up from Rs 51 crore to Rs 95 crore. Shree Cement has informed BSE that the board of directors at its meeting held on January 21, 2010, has declared Interim dividend of Rs. 5 per share for the financial year 2009-10. The stock is down 2.33 per cent to Rs 2,140 at the BSE at 1220 hrs.


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