Morning Bell
Aurobindo Dec net up 9.8%
Aurobindo Pharma Ltd witnessed a 9.8% increase in its net profit to Rs 188.6 crore for the third quarter ended December 31, as compared with Rs 171.8 crore in the corresponding period last year. Net sales were Rs 1,192.2 crore during the quarter, as against Rs 915.2 crore, reflecting growth of 30.3%. (Source: Business Standard)
Coal India to invite bids this month for drilling Mozambique blocks
CIL will float bids this month to hire an agency for exploratory drilling of its two coal blocks in Mozambique to assess the reserves estimated to be at about one billion tonne. The exploratory drilling of the twin blocks is likely to begin in May 2011 while the production is set to begin by 2015. (Source: Business Standard)
BHEL, Yemen in deal for $393 mn power plant
Yemen signed an agreement with BHEL for a USD 392.7 million power plant in the Arab country. The 400-megawatt gas-powered project in Maarib province is funded by the Saudi Fund for Development, the Arab Fund for Economic and Social Development, and the governments of Yemen and Oman. (Source: Money Control)
Hindustan Unilever to foray into fruit-based beverages market
HUL will soon launch its first fruit-based drink under the Kissan brand to cash in on the increasingly health-conscious mindset of the Indian consumer. The entry will potentially shake up the fast-growing 1,500-crore fruit-based beverages market, currently dominated by Dabur, Parle Agro, PepsiCo and Coca-Cola. (Source: Economic Times)
RCom, Bharti seek early exit from rural telephony scheme
RCom and Bharti, have approached the government seeking to prematurely exit from the rural telephony scheme under the USO subsidy without fulfilling the commitment they had made by winning bids in 2007 to provide telecom services in villages. The government has an over Rs 14,000 crore corpus under the Universal Service Obligation (USO) Fund. (Source: Economic Times)
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