Ashok Leyland reports net profit Rs167.1 crore in Q2

Automobile manufacturer Ashok Leyland Ltd said its net profit for the second quarter ended September 2010 stood at Rs167.1 crore as against Rs88.6 crore in the same quarter last year.

Net sales rose 72% to Rs2,714 crore from Rs1,577.7 crore, said the company in a statement.

The company's increase in both profits and revenue rode on a record sale of 45,989 vehicles for the first half of 2010-11.

On Thursday, Ashok Leyland shares gained 1.5% to Rs76 on the Bombay Stock Exchange, while the benchmark Sensex closed 2% higher at 20,260 points.

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Canara Bank Q2 net profit up 10% to Rs1,008 crore

State-owned Canara Bank Ltd reported a 10% rise in net profit at Rs1,007.8 crore for the second quarter ended 30 September 2010.

The Bank had a net profit of Rs910.5 crore in the same quarter of the last fiscal, Canara Bank said in a filing to the Bombay Stock Exchange (BSE).

The lender also reported an increase of 8.4% in total revenues for the quarter at Rs6,077 crore, against Rs5,602 crore in the year-ago period.

Further, the Bank earned an interest of Rs5,577 crore during the quarter, compared to Rs4,709 crore during the same period last fiscal.

During the first half ended 30 September 2010, the Bank clocked a 38% rise in net profit to Rs2,021 crore, compared to Rs1,466 crore in the same period a year ago.

The Bank reported total revenues of Rs11,972 crore in the first six months, compared to Rs10,634 crore in the previous financial year.

On Thursday, Canara Bank shares ended 7.1% up at Rs703 on the BSE, while the benchmark Sensex closed 2% higher at 20,260 points.
 

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Personal finance Thursday

Religare MF floats Religare Fixed Maturity Plan-Series III-Plan F, HDFC Mutual Fund launches HDFC FMP 100D October 2010 (2), SBI Mutual Fund launches SBI Debt Fund Series-370 Days- 7, Samriddhi offer launched for festive season, BSNL announces new schemes for festival season

Religare MF floats Religare Fixed Maturity Plan-Series III-Plan F

Religare Mutual Fund has launched Religare Fixed Maturity Plan-Series III-Plan F (370 Days), a close-ended income scheme. The investment objective of the Plan F under the Scheme is to generate income by investing in debt and money-market instruments maturing in line with the duration of the Scheme. The Scheme will invest 100% in debt instruments including money-market instruments with low risk profile.
The Plan F offers growth and dividend (payout). During the new fund offer (NFO), the units will be offered at face value of Rs10 per unit. The NFO opens on 21st October and closes on 25th October. The exit load for the Plan is nil. The minimum investment amount is Rs5,000. The minimum target amount is Rs1 crore. CRISIL Short-Term Bond Fund Index is the benchmark index.

HDFC Mutual Fund launches HDFC FMP 100D October 2010 (2)

HDFC Mutual Fund has launched HDFC FMP 100D October 2010 (2), a close-ended income scheme. The investment objective of the Plan under the Scheme is to generate income through investments in debt/money-market instruments and government securities maturing on or before the maturity date of the Plan. The Plan will invest 60%-100% in debt and money-market instruments having low to medium risk. The Plan will invest 40% in government securities having low risk.
The Plan offers growth and dividend (payout). During the new fund offer (NFO), the units will be offered at face value of Rs10 per unit. The exit load for the Plan is nil. The Plan opens of 21st October and closes on 25th October. The minimum investment amount is Rs5,000.
CRISIL Liquid Fund Index is the benchmark index. Bharat Pareek and Anand Laddha are the fund managers.

SBI Mutual Fund launches SBI Debt Fund Series-370 Days- 7

SBI Mutual Fund launches SBI Debt Fund Series - 370 Days - 7, a close-ended income scheme.
The investment objective of the Scheme is to provide regular income, liquidity and returns to the investors through investments in debt instruments such as government securities, PSU & corporate bonds and money-market instruments maturing on or before the maturity of the Scheme. The Scheme will invest 100% in debt instruments having low to medium risk.
The Scheme will have maturity not exceeding 370 days. Since the Scheme will be listed on the Stock Exchange there will not be any exit load. During the new fund offer (NFO), the units will be offered at face value of Rs10 per unit. The Scheme closes on 25th October. The minimum investment amount is Rs5,000. CRISIL Short Term Bond Fund Index is the benchmark index. Rajeev Radhakrishnan is the fund manager.

Samriddhi offer launched for festive season
 
Major jewellers including Gitanjali Group have introduced Samriddhi Festival offer across jewellery outlets in India. The Samriddhi offer is promoted by various diamond jewellery companies. These include Nakshatra, DDamas, Asmi, Gili, Sangini, Diya, Parineeta, World of Solitaire and Shuddhi Jewels. Under the offer, every buyer receives a free gift of solitaire diamond jewellery on every piece of diamond jewellery above Rs15,000 purchased at one of the participating outlets. For instance, for diamond jewellery which comes in the slab rate of Rs15,000-Rs35,000 a free pendant will be offered. For diamond jewellery worth Rs55,001-Rs75,000, a free ring will be gifted and for Rs95,000 and above, a pair of earrings will be gifted. Apart from these, there are other slab rates available. 
On some of the brands instead of a free gift, a buyer gets a discount on the retail price of the jewellery. The scheme is valid till 10th November.

BSNL announces new schemes for festival season

BSNL Rajasthan Circle today announced new plans and schemes for ongoing festival season, including free SIM cards to its land line customers and new landline connections on zero installation charges.
"BSNL land line customers will be given one pre-paid/post paid free mobile SIM (CDMA/GSM) in the same number. All calls to the land line number from the SIM will be free. First Recharge coupon of Rs31 will be required to activate the pre-paid SIM, which will be valid for six months," Rajasthan Circle-BSNL Chief General Manager AK Jain told in a press conference here.
A broadband Home plan has also been introduced on a regular basis for home users with unlimited download/upload facility and without any monthly rental for the landline connection, he said, adding that 20% rebate will be given to government/PSU employees.
 

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