Chennai-based BGR Energy Systems Ltd said it signed a joint venture agreements with Japan-based Hitachi Ltd and Germany-based Hitachi Power Europe GmbH to set up boiler and turbine manufacturing facility with an investment of Rs3,000 crore in India.
BGR Turbines Company (P) Ltd, the joint venture between BGR and Hitachi, will have its manufacturing facility in Tamil Nadu in which BGR Energy will hold 74% stake while Hitachi will hold the rest.
BGR's second joint venture with Hitachi Power Europe will be for supercritical steam generators for thermal power plants.
On Friday, BGR Energy shares gained 1.8% to Rs797 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.2% lower at 18,143 points.
Chennai-based education services provider EdServe Softsystems Ltd said its first quarter net profit rose 210% to Rs6.9 crore from Rs2.2 crore in the same quarter last year on robust revenues.
During the quarter to end-June, EdServe's total revenue increased 364% to Rs21.5 crore from Rs4.6 crore same quarter a year ago.
On Friday, EdServe shares declined 0.2% to Rs213 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.2% lower at 18,143 points.
Fortis Healthcare Ltd reported a consolidated net loss of Rs14.3 crore for the quarter ended 30 June 2010 as compared to net profit of Rs7.6 crore for the same quarter last year, despite robust revenues.
Its total revenues increased to Rs371.6 crore for the quarter ended 30 June 2010 from Rs188.5 crore for the quarter ended 30 June 2009.
However in a standalone basis, the company swung to first quarter net profit of Rs27.6 crore against a net loss of Rs1.6 crore for the same quarter last year. Its total revenues also increased to Rs104.2 crore from Rs54.4 crore for the quarter ended 30 June 2009.
On Friday, Fortis Healthcare shares ended 0.4% up at Rs154 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.2% lower at 18,143 points.