MId Day 10-02-11

 

Food inflation at 13.07 pct

India's food price index at 13.07% and the fuel price index climbed to 11.61% in the year to Jan. 29. In the prior week, annual food and fuel inflation stood at 17.05% and 11.61% respectively. (Source: Reuters)

Punj Lloyd forms JV to enter aerospace sector

PL Engineering, a Punj Lloyd Group company, has signed joint venture agreement with GECI Transportation and Engineering, a subsidiary of French company GECI International. The JV firm will focus on providing services to the growing Indian aerospace sector on supporting activities in Europe. (Source: Economic Times)

Britannia Q3 net rises 28%; sales up 22.5%

Britannia Industries clocked a 22.5% growth in sales at Rs1,080 crore in Q3 FY 11.Its net profit grew 28.3% at Rs37.3 crore in the quarter under review. The company has maintained its growth trajectory in an intensely competitive market and continued to drive innovation in the industry by focus on cost reduction and driving consumer off-take to generate profitable growth. (Source: DNA Money)

Telecom stocks in doldrums on new 2G pricing

Three telecom stocks tumbled by 3.15% to 10.18% as telecom regulator's new recommendations on 2G spectrum pricing will force mobile operators to pay hefty amounts for spectrum they are holding. Idea Cellular (down 10.18%) and Bharti Airtel (down 5.12%) tumbled. However, Anil Ambani controlled Reliance Communications rose 1.21% to Rs 96 on bargain hunting after the stock tumbled 14.3% to Rs 94.85 on Wednesday. (Source: Capital Market)