Reliance Industries (RIL) has thrashed a report of DGH-appointed one-man expert on reasons for fall in output at its KG-D6 fields saying the study of such a complex reservoir was prepared and issued in just one week. The 11-page report by reservoir expert P Gopalkrishnan is being used by the Oil Ministry to imply that RIL suppressed gas output at KG-D6 and so should not be given higher gas prices till it makes up for the shortfall in production of last three years. RIL replied that the report was based on field performance data of up to March 2011 only and was issued without conducting any field visit or any interaction with the contractor. Gopalkrishnan -- hired by director general of hydrocarbons (DGH) -- in a 2011 report stated that the fall in production in KG-D6 basin was not due to geological difficulties as claimed by RIL.
ONGC Videsh, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), has won two on-land oil blocks in Myanmar, strengthening its presence in the south-east Asian nation. OVL, which has stakes in the A-1 and A-3 gas discovery blocks and three other offshore acreages in Myanmar, was last week awarded two oil and gas exploration blocks in that country's Onshore Blocks Second Bidding Round - 2013. The firm got Blocks B-2 (Zebyutaung-Nandaw) and EP-3 (Thegon-Shwegu). Myanmar awarded 13 onshore blocks, with OVL, Italy's Eni, Pakistan's Petroleum Exploration (PVT) and Canada's Pacific Hunt Energy Corp each winning contracts to operate two blocks. OVL has also been pre-qualified to bid for 30 offshore oil and gas blocks that Myanmar plans to award by early 2014.
Wockhardt has received a communication from the UK Medicines and Healthcare Products Regulatory Agency (UKMHRA), informing it of withdrawing the previously issued good manufacturing practice (GMP) certificate to the company's manufacturing facility situated at L1, MIDC, Chikalthana, Aurangabad. It will issue a restricted GMP certificate to the site along with a statement of non-compliance. In order to avoid market shortage of medically essential products, the GMP certificate will be conditioned to permit continued manufacturing and QC testing of critical products in situations where it has been agreed by the national competent authority or EMA that there is no feasible alternative in the market concerned. The scope of the statement of non-compliance is, therefore, limited to medicinal products considered non-critical to public health.
Going in for the first price hike in the last one year, state-owned NMDC has raised iron ore rates for October by Rs 100 per tonne amid good domestic demand and rising prices in global market. Iron ore lumps will now be available at Rs 4,300 per tonne, while fines at Rs 2,610 per tonne. The company has also increased the price of calibrated lump ore (which is considered the best quality iron ore) by about Rs 120 per tonne for the current month. NMDC had last increased the prices for July-September quarter of the last fiscal. Since October last year, when it shifted to monthly evaluation of the rates, the company has either reduced prices or kept them unchanged as demand has been subdued. For lumps (having rich iron contents and considered high grade ore), NMDC has cut prices seven times since October, 2012 and had kept rates unchanged for rest of the months. For fines (or the lower grade iron ore), it had thrice reduced prices and had rolled it over for rest of the months.
Healthcare major Apollo Hospitals Enterprise will invest Rs 2,000 crore to add 2,800 beds across the country in three years as part of its expansion plans. The company that currently has over 8,500 beds in 51 hospitals across the country plans to set up a mix of reach hospitals for smaller cities and big super speciality hospitals for larger cities. The company is also planning overseas expansion in the near future. At present, the company’s focus is in the Indian market though it does lots of consulting work overseas in countries like Indonesia, Tanzania, among others. The Chennai-headquartered company is also aiming to add more clinics in near future. Apart from the hospitals across India, Apollo Hospitals Enterprise at present has more than 1,350 pharmacies and over 100 diagnostic clinics.
Wipro and HCL Infosystems are in race for supplying handheld devices to post offices under a project that is estimated to cost Rs 1,500 crore. The Department of Post (DoP) has floated tender for supplying of handheld devices to 130,000 post offices located in rural area as part of its modernization project. The postal department has almost computerized about 25,000 of its departmental post offices but rural post offices will be provided handheld devices for digitalizing records. Any transaction made using the device will get updates in core system of post offices. The device will have bio-metric module to identify individual having an Aadhar number, solar power panel for charging in absence of electricity and thermal printer to immediately print and handover receipt to customer.
Telecom major Bharti Airtel has increased international call rates by up to 80 percent this month mainly due to the impact of depreciation in rupee. Another leading operator Idea Cellular has also hiked international call rates by up to 25 percent. The standard call rates to countries like the US, the UK and Canada has been raised to Rs 8 per minute, from Rs 6.40 per minute earlier. Maximum hike of 80 percent has been on Airtel network on calls made for special services in Australia with effect from October 10. The calls which cost Rs 100 for dialing Australia numbers with ISD code 6113 and 6114 have been raised from Rs 100 to Rs 180. Besides, the Department of Telecom has awarded unified licence to Idea Cellular for seven circles. The company has been awarded licences for Assam, West Bengal, Kolkata, North East, Tamil Nadu, Jammu and Kashmir and Odisha. The company had applied for licences in seven circles after it emerged as the second biggest winner in the November 2012 spectrum auction.
Pennar Industries has set a target of netting 10 percent of income from exports over the next five years when it plans to hit the Rs 5,000-crore revenue mark on the back of diversification into hydraulics and infrastructure sectors. The engineering steel equipment-manufacturer recently made a foray into the hydraulic equipment market by acquiring the assets of hydraulic cylinder manufacturer Wayne-Burt PetroChemicals for Rs 15 crore. Currently, the infrastructure business contributes to 40 percent of its revenues, while railway and automobiles which were the major contributors so far have shown a decline to 13 percent and 22 percent, respectively.
State-owned telecom company MTNL plans to invest about Rs 400 crore to increase 3G mobile Internet speed by up to six times, and enhance the coverage of 2G network. At present, the maximum speed of data download on MTNL's 3G networks based on HSDPA technology is about 3.6 megabit per second (mbps). It plans to increase that to 21.1 Mbps by using HSPA+ technology. At the current speed a user is able to download a 600 MB file, equivalent to a Bollywood movie, in around 24 minutes. At 21 mbps, the same file can be downloaded in 4 minutes. However, the downloads depend on a lot of other factors such as the server location, number of subscribers using network at a time and throughput capability of the website. Under the project, MTNL has plans to install about 1,500 base stations (mobile towers) for 2G services, and about 2,000 sites for 3G coverage.
Jammu & Kashmir Bank is targeting to grow its post-tax profit by 25 percent to Rs 1,300 crore this fiscal despite the economic gloom and certain hit on banks' bottom-lines due to mid-July liquidity tightening measures by the Reserve Bank. The total business of the bank, which crossed the Rs 1 trillion-mark last fiscal, will touch Rs 1.25 trillion by the end of this fiscal. The bank is sticking to its targets despite ongoing troubles, both on account of the dip in growth and due to the liquidity tightening by the RBI to prop the battered rupee on July 15, which can hit the bottom-line. The bank expects to maintain its net interest margin at over 4 percent, one of the highest in the industry, for the fiscal.
Source:-berkeleygains
ONGC Videsh, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), has won two on-land oil blocks in Myanmar, strengthening its presence in the south-east Asian nation. OVL, which has stakes in the A-1 and A-3 gas discovery blocks and three other offshore acreages in Myanmar, was last week awarded two oil and gas exploration blocks in that country's Onshore Blocks Second Bidding Round - 2013. The firm got Blocks B-2 (Zebyutaung-Nandaw) and EP-3 (Thegon-Shwegu). Myanmar awarded 13 onshore blocks, with OVL, Italy's Eni, Pakistan's Petroleum Exploration (PVT) and Canada's Pacific Hunt Energy Corp each winning contracts to operate two blocks. OVL has also been pre-qualified to bid for 30 offshore oil and gas blocks that Myanmar plans to award by early 2014.
Wockhardt has received a communication from the UK Medicines and Healthcare Products Regulatory Agency (UKMHRA), informing it of withdrawing the previously issued good manufacturing practice (GMP) certificate to the company's manufacturing facility situated at L1, MIDC, Chikalthana, Aurangabad. It will issue a restricted GMP certificate to the site along with a statement of non-compliance. In order to avoid market shortage of medically essential products, the GMP certificate will be conditioned to permit continued manufacturing and QC testing of critical products in situations where it has been agreed by the national competent authority or EMA that there is no feasible alternative in the market concerned. The scope of the statement of non-compliance is, therefore, limited to medicinal products considered non-critical to public health.
Going in for the first price hike in the last one year, state-owned NMDC has raised iron ore rates for October by Rs 100 per tonne amid good domestic demand and rising prices in global market. Iron ore lumps will now be available at Rs 4,300 per tonne, while fines at Rs 2,610 per tonne. The company has also increased the price of calibrated lump ore (which is considered the best quality iron ore) by about Rs 120 per tonne for the current month. NMDC had last increased the prices for July-September quarter of the last fiscal. Since October last year, when it shifted to monthly evaluation of the rates, the company has either reduced prices or kept them unchanged as demand has been subdued. For lumps (having rich iron contents and considered high grade ore), NMDC has cut prices seven times since October, 2012 and had kept rates unchanged for rest of the months. For fines (or the lower grade iron ore), it had thrice reduced prices and had rolled it over for rest of the months.
Healthcare major Apollo Hospitals Enterprise will invest Rs 2,000 crore to add 2,800 beds across the country in three years as part of its expansion plans. The company that currently has over 8,500 beds in 51 hospitals across the country plans to set up a mix of reach hospitals for smaller cities and big super speciality hospitals for larger cities. The company is also planning overseas expansion in the near future. At present, the company’s focus is in the Indian market though it does lots of consulting work overseas in countries like Indonesia, Tanzania, among others. The Chennai-headquartered company is also aiming to add more clinics in near future. Apart from the hospitals across India, Apollo Hospitals Enterprise at present has more than 1,350 pharmacies and over 100 diagnostic clinics.
Wipro and HCL Infosystems are in race for supplying handheld devices to post offices under a project that is estimated to cost Rs 1,500 crore. The Department of Post (DoP) has floated tender for supplying of handheld devices to 130,000 post offices located in rural area as part of its modernization project. The postal department has almost computerized about 25,000 of its departmental post offices but rural post offices will be provided handheld devices for digitalizing records. Any transaction made using the device will get updates in core system of post offices. The device will have bio-metric module to identify individual having an Aadhar number, solar power panel for charging in absence of electricity and thermal printer to immediately print and handover receipt to customer.
Telecom major Bharti Airtel has increased international call rates by up to 80 percent this month mainly due to the impact of depreciation in rupee. Another leading operator Idea Cellular has also hiked international call rates by up to 25 percent. The standard call rates to countries like the US, the UK and Canada has been raised to Rs 8 per minute, from Rs 6.40 per minute earlier. Maximum hike of 80 percent has been on Airtel network on calls made for special services in Australia with effect from October 10. The calls which cost Rs 100 for dialing Australia numbers with ISD code 6113 and 6114 have been raised from Rs 100 to Rs 180. Besides, the Department of Telecom has awarded unified licence to Idea Cellular for seven circles. The company has been awarded licences for Assam, West Bengal, Kolkata, North East, Tamil Nadu, Jammu and Kashmir and Odisha. The company had applied for licences in seven circles after it emerged as the second biggest winner in the November 2012 spectrum auction.
Pennar Industries has set a target of netting 10 percent of income from exports over the next five years when it plans to hit the Rs 5,000-crore revenue mark on the back of diversification into hydraulics and infrastructure sectors. The engineering steel equipment-manufacturer recently made a foray into the hydraulic equipment market by acquiring the assets of hydraulic cylinder manufacturer Wayne-Burt PetroChemicals for Rs 15 crore. Currently, the infrastructure business contributes to 40 percent of its revenues, while railway and automobiles which were the major contributors so far have shown a decline to 13 percent and 22 percent, respectively.
State-owned telecom company MTNL plans to invest about Rs 400 crore to increase 3G mobile Internet speed by up to six times, and enhance the coverage of 2G network. At present, the maximum speed of data download on MTNL's 3G networks based on HSDPA technology is about 3.6 megabit per second (mbps). It plans to increase that to 21.1 Mbps by using HSPA+ technology. At the current speed a user is able to download a 600 MB file, equivalent to a Bollywood movie, in around 24 minutes. At 21 mbps, the same file can be downloaded in 4 minutes. However, the downloads depend on a lot of other factors such as the server location, number of subscribers using network at a time and throughput capability of the website. Under the project, MTNL has plans to install about 1,500 base stations (mobile towers) for 2G services, and about 2,000 sites for 3G coverage.
Jammu & Kashmir Bank is targeting to grow its post-tax profit by 25 percent to Rs 1,300 crore this fiscal despite the economic gloom and certain hit on banks' bottom-lines due to mid-July liquidity tightening measures by the Reserve Bank. The total business of the bank, which crossed the Rs 1 trillion-mark last fiscal, will touch Rs 1.25 trillion by the end of this fiscal. The bank is sticking to its targets despite ongoing troubles, both on account of the dip in growth and due to the liquidity tightening by the RBI to prop the battered rupee on July 15, which can hit the bottom-line. The bank expects to maintain its net interest margin at over 4 percent, one of the highest in the industry, for the fiscal.
Source:-berkeleygains