Morning Notes - April 12th, 07

Gujarat Ambuja Cements Ltd’s March shipments fell 4.5% to 1.48 million tonnes from 1.55 million tonnes a year earlier. Production fell to 1.43 million tonnes from 1.53 million tonnes a
year earlier. –ET
Elecon Engineering Company has been awarded a contract worth Rs 229.09 crore for supply and installation of coal handling plant package for National Capital Termal Power Project from
state-run NTPC. –ET
Domestic car sales in the financial year ended Mar’07 rose 22% from the year before to 1,076,408 from 882,208 in 05/06-ET
iGate Global Solutions posted over four fold jump in net profit at Rs 21.42 cr for the qtr ended March 31, as compared to Rs 5.25 cr for the same quarter last year. Total income of the company increased 29.91% to Rs 196.05 cr for the 4th qtr ended March 31, from Rs 150.91 crore a year ago. –ET
Mastek reported a 132% increase in consolidated net profit at Rs 40.23 cr for the 3rd qtr ended March 31, 2007 compared with Rs 17.31 cr in Q3FY06. –BS
Larsen & Toubro plans to set up a major state-of-the-art ship building yard at a cost of Rs 1,500 crore. The new greenfield ship building yard would come up on a 1,000-acre area and have capability to make all types of ships, including high tech designs like CNG, LNG carriers and containers upto 3 lakh dead weight tonnes. –BS
The final hearing by the arbitration panel on the Jet-Air Sahara merger has been postponed till 12 April 07. –BS
Around 14 funds and institutions, including eight from overseas, have shown interest in buying a strategic stake in India’s oldest term lending institution, IFCI Ltd, with a few even ready to pick up 51 per cent equity. –BL
Tanla Solutions Ltd‘s U.K.-based subsidiary, Tanla Mobile, has expanded its operations into Ireland. –BL
Punjab National Bank has increased the Benchmark Prime Lending Rate by 75 basis points to 13 per cent. –ET
Deccan Chronicle Holdings Ltd would raise its advertisement tariff by 30% from May 2007. –BL