Hindustan Tin, Rexam to invest Rs220 cr in beverage can market

The new line represents a capital investment of Rs220 crore over two years

Rexam PLC, the global consumer packaging company, and Hindustan Tin Works Ltd, an Indian can maker are building a new high speed beverage can manufacturing line in Taloja close to Mumbai.

The new line represents a capital investment of Rs220 crore (£30million) over two years. It will initially produce 33cl and 50cl cans and then slim cans, increasing total capacity from the current 300 million cans per year to 850 million cans per year. Production start up is planned for the final quarter of 2012.

On Wednesday, Hindustan Tin ended 3.6% down at Rs89.30 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.94% to 17,940.55.

User

Future Capital Q1 net profit up 65% at Rs21.86 crore

The improved results were primarily driven by higher net interest income and higher fee income

Future Capital Holdings reported a strong rise in net profit to Rs21.86 crore in the quarter ending 30 June 2011, up 65% over the corresponding quarter last year. The improved results were primarily driven by higher net interest income and higher fee income.

The company reported a 126% jump in its net interest income to Rs50.93 crore in the quarter ending 30 June 2011, up from Rs22.58 crore last year. The company's operating profit shot up by 163 % to Rs51.90 crore from Rs19.73 crore in the corresponding quarter last fiscal.

The company witnessed a continuous improvement in asset quality through the year, and reported a gross NPA of 0.05 % and net NPA of nil for the quarter ending June 2011, compared to gross and net NPA of 2.6% and 1.08% in June 2010, on the back of improved credit performance.  

The company concluded the merger of its subsidiary Future Capital Financial Services with itself and exited a Joint Venture with Centrum Capital recently. The Networth of the Company grew to Rs769 crore from Rs694 crore for June 2010.

V Vaidyanathan, vice chairman and managing director said, "The results reflect the strong fundamentals of the company and improved asset quality. We are confident of improved earnings going forward on the back of strong growth in all our businesses."

On Wednesday, Future Capital ended 2.69% down at Rs180.55 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.94% to 17,940.55.

User

Government launches Rajiv Awas Yojana to house urban poor; Centre to fund Rs50,000 per unit

Scheme aims to cover about 250 cities and towns. A couple of programmes initiated over the past three years have reported little progress

The ministry for housing and urban poverty alleviation has launched a new scheme 'Rajiv Awas Yojana' (RAY) with a vision to 'create a slum-free India'. The first phase of this project, which will be undertaken over two years, has a budget of Rs5,000 crore.

Under the scheme, central support will provide Rs50,000 per unit, or about 25% of the cost of civic infrastructure (external and internal), whichever is lower.

The scheme is expected to be implemented in nearly 250 cities and towns by the end of the 12th Plan (2017). The selection of the location will be done by states in consultation with the Centre.

The states would be required to include all the cities already under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) programme, those with a population of more than 3 lakh in the 2001 census, and some other smaller cities.

A list of 157 cities, for which funds have been released for preparatory work under the Slum Free City Planning Scheme, contains names of metros and upcoming centres like Visakhapatnam, Ahmedabad, Shillong, Bhubaneswar and Varanasi.

Union minister of state for urban employment and poverty alleviation, Kumari Selja, informed parliament on Tuesday that 50% of in-city costs will be borne by the Centre. In the case of north-east and special category states, the share of the Centre would be 90%, which would also include the cost of land acquisition, if necessary.

The existing schemes for the urban poor, Integrated Housing and Slum Development Programme (IHSDP) and Basic Services to the Urban Poor (BSUP), have not progressed in the last three years.

IHSDP has failed to come up with any dwelling units in Gujarat since the launch of the programme in 2008, though 10,019 units have been approved. Under BSUP, which was launched in 2005, 2,624 dwelling units have been completed and 2,040 are under construction. The figures haven't changed since 2008.

COMMENTS

MAHESH REDDY

3 years ago

All the articles that, i have come across pertaining to Rajiv Gandhi Awaas Yogna only contain jargon about the central and state Govts partnership in regard to the scheme.
How the common man with Rs 10,000/-per month salary will benefit from this scheme has been categorically omitted.
It needs to be clearly explained as to how a low income group family living on rent or dwelling in slums can avail benefit under this scheme is yet to be known.
lest like all other schemes it will benefit only those who have the expertise to manipulate such schemes for their own benefits.
Slums are just arranged vertically(as under SRA scheme). with applying mind whether the occupants are financially able to pay the mandatory society maintenance contributions.or going to sell the flats availed under these schemes and again develop a new slum pocket on nearby govt land, so the cycle continues and fuel these scheme continuously.

santosh arvind bind

3 years ago

anita
anita 52 minutes ago
Hi !!!
I am Santosh . I am earning 12000/- per month, I am living on a rent in powai andheri (E). Mumbai:72 Can I get benifits from rajiv aavas yojana? Kindly reply on my mail id.
Or any other scheme available by which i can purchse my own home.. or any bank can give loan?
My mail id :-
[email protected]

om prakash singh

5 years ago

draw situation status form no

0151440 what is progress

Anoop Jha

5 years ago

Huge demand of urban housing for poor and underprivileged segment of society needs a fresh look in terms of policy decisions and innovation support in addition to government schemes for a sustainable future in light of fast pace urbanization..

Elaborated thoughts … http://bit.ly/uCIIVK

Anoop Jha
Urban and Regional Planner
http://planningurbanoregional.blogspot.c...

pankaj kumar

6 years ago

I had applied for Rajiv Ratan Awas-2008 vide application no. 0141797. but still I don't what happended about the draw. please let me know.
please sir.

Thankyou.

pankaj kumar

6 years ago

I had applied for Rajiv Ratan Awas-2008 vide application no. 0141797. but still I don't what happended about the draw. please let me know.
please sir.

Thankyou.

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)