Tata Steel consolidated Q3 net up 34 per cent
Tata Steel, on Wednesday, reported a 34.21 per cent rise in the consolidated net profit at Rs 1,416 crore for the third quarter ended December 31, 2007 after the acquisition of Corus early last year. The company said its turnover registered an increase of Rs 2,157 crore, which excluded the turnover of Tata Steel UK of Rs 23,867 crore for the quarter. The increase was mainly due to increases in Tata Steel’s Indian operations driven by increase in prices. The increase in NatSteel and Tata Steel Thailand’s operations were attributed to price rise and increase in volumes.
GM to soon start trial production in new plant
General Motors India will start trial production in its new plant in Talegaon next week and is confident of achieving the sales target of 2,00,000 by 2010, by which time export of components from India will cross US$1 billion. The second plant coming up near Pune at a cost of US$ 300 million is all set for production and commercial manufacture, which would commence in 2008 last quarter
Corporation Bank gets a new Chief GM
Mairpady Narendra, General Manager of Corporation Bank has been designated as Chief General Manager. Mr Narendra joined Corporation Bank in 1975 and worked in various capacities both in operations and administration. As Deputy General Manager, he headed northern region at New Delhi. At corporate office, he handled various portfolios of the Bank such as foreign exchange, financial & risk management, investment & international banking, cash management services and subsidiaries.
New workstations from Avid & HP at special price
Hewlett-Packard India and Avid Technology, a major player in digital nonlinear media creation, on Wednesday, announced an exclusive partnership to provide an educational pre-bundled PC at a special price for the media educational sector. This special product is aimed at educational institutes offering professional and vocational courses in mass media and students pursuing such courses. The solution is priced at Rs 1,05,000.
Piramal Life Sciences likely to list in June, 2008
Piramal Life Sciences, the demerged research and development unit of Nicholas Piramal, is likely to be listed by June. This was announced in Mumbai on Tuesday by Piramal Group Chairman Ajay Piramal. The Group also announced the launch of its new corporate identity. While Nicholas Piramal will now be known as Piramal Helathcare, Gujarat Glass and NPIL Laboratories and Diagnostics have been renamed as Piramal Glass and Piramal Diagnostic Services, respectively.
SonicWALL’s new network security appliances
SonicWALL Inc, on Wednesday, announced the launch of SonicWALL Network Security Appliance Series (NSA) for the mid-enterprise, the next generation of Unified Threat Management (UTM). This is aimed at helping mid-sized businesses benefit from multi-function network security, without compromising network performance or manageability, said the company in a release.
