Glenmark raises Rs.413.5 crore (Business Capsule)

September 23rd, 2009 NEW DELHI - State-run upstream major Oil and Natural Gas Corp (ONGC) Wednesday said it has paid Rs.6,844 crore as dividend for 2008-09. ONGC shareholders approved a dividend payment of of Rs.14 a share, which along with the interim dividend of Rs.18 a share totals to Rs.32 a share.

September 18th, 2009 MUMBAI - Drug maker Natco Pharma Friday said it has launched anti-swine flu drug Natflu. The maximum retail price of the medicine is fixed at Rs.480 for a bottle of 10 capsules and is available in all licensed pharmacies, the company said in a regulatory statement.

July 31st, 2009 BANGALORE - State-run Syndicate Bank posted a net profit of Rs.262 crore for the first quarter this fiscal, registering a whopping growth of 198 percent year-on-year from Rs.88 crore in the like period last year. "We have nearly trebled our net profit in the first quarter on a healthy 16.4 percent growth in net interest income (NII) to Rs.586 crore from Rs.503 crore a year ago and better management of treasury operations," bank executive director V.K.

July 29th, 2009 MUMBAI - Steel major Tata Steel's net profit fell 46.93 percent in the quarter ended June 30 to Rs.789.83 crore ($163 million) from Rs.1,488.4 crore in the like period last year. Total income of the company decreased 8.16 percent to Rs.5,661.89 crore during the quarter from Rs.6,165.14 crore a year earlier.

July 28th, 2009 MUMBAI - Grasim, an Aditya Birla Group company with interest in cement, chemicals and textiles, Tuesday reported a net profit of Rs.1,080 crore for the first quarter this fiscal, a 61 percent jump over the Rs.672 crore it earned in the year-ago period. This included an extraordinary (non-recurring) gain of Rs.336 crore from the sale of sponge iron business, the company said in a regulatory statement.

July 25th, 2009 BANGALORE - State-run Vijaya Bank returned to the black by posting a net profit of Rs.143 crore for the first quarter this fiscal as against a net loss of Rs.766 million in the same period of previous fiscal. "Our core earnings during the first quarter have been impressive despite slackened business growth.

July 25th, 2009 CHENNAI - City-based engineering and infrastructure firm BGR Energy Systems has posted a net profit of Rs.20.23 crore for the quarter ended June 30 as against Rs.17.23 crore reported in the like period last year, a growth of 17 percent. The company's turnover during the period stood at Rs.311 crore as compared to Rs.306 crore in the April-June quarter last fiscal, BGR said in a statement.

July 23rd, 2009 KOLKATA - Diversified business house ITC posted a net profit of Rs.878.7 crore in the quarter ended June 30, as compared to Rs.748.67 crore earned in the corresponding quarter the previous year, the company said here Thursday. This reflected a growth of 17.4 percent.

July 23rd, 2009 CHENNAI - The city-based Indian Bank closed the first quarter with a 52 percent increase in net profit and nearly 21 percent increase in total business as compared to the corresponding period in the previous fiscal, said a top bank official here Thursday. "Despite the challenging economic environment, the bank has earned a net profit of Rs.331.66 crore and did a total business of Rs.1,28,701 crore (deposits plus advances) as against Rs.217.62 crore and Rs.1,06,691 crore posted during the corresponding period of the previous year," said the bank's chairman and managing director M.S.

July 22nd, 2009 BANGALORE - State-run Canara Bank Wednesday reported a net profit of Rs.555 crore for the first quarter this fiscal, registering a whopping 353 percent year-on-year (YoY) increase over the Rs.123 crore posted in the corresponding quarter year ago. "The net profit for the quarter has shot up due to multiple factors such as net interest income growing by 27 percent YoY to Rs.1,291 crore from Rs.1,019 crore, other income increasing by 29 percent to Rs.

July 9th, 2009 BANGALORE - State-run Bharat Earth Movers Ltd (BEML) posted net profit of Rs.268 crore in fiscal 2008-09 as against Rs.225 crore the year before, registering growth of 19 percent, the listed company said Thursday. Net sales, however, grew by 10 percent to Rs.2,797 crore last fiscal from Rs.2,540 crore in 2007-08.

June 11th, 2009 CHENNAI - City Union Bank, an old generation private lender based in Tamil Nadu, Thursday said it will raise Rs.250 crore over the next two years to fund its expansion plans. "Our target is to have a net worth of Rs.1,000 crore in two years time.

May 27th, 2009 NEW DELHI - Rajasthan attracted investments worth Rs.69,052 crore, the highest among northern states, during 2008-09, a business chamber report released here Wednesday said. The report, 'Investment Prospects in Indian Economy 2008-09' by the Associated Chambers of Commerce and Industry (Assocham), said Haryana, which attracted investments worth Rs.52,852 crore, came second, followed by Uttarakhand with Rs.36,059 crore.

May 4th, 2009 KOLKATA - State-run lender Allahabad Bank Monday reported a net profit of Rs.264.09 crore in the fourth quarter of 2008-09 as against Rs.169.51 crore in the like period last fiscal, a rise of 55.8 percent. However, the bank's yearly profit fell 21 percent last fiscal.

April 27th, 2009 CHENNAI - State-run Indian Bank Monday reported 23.4 percent rise in its net profit for 2008-09 at Rs.1,245.32 crore from Rs.1,008.73 crore the previous fiscal. 'The bank's total business went up by 23 percent to Rs.124,413 crore (deposits Rs.75,582 crore and advances Rs.51,831 crore),' M.S.