India Tourism Development Corp reports net loss of Rs12.40 crore in Q3

ITDC’s net sales grew by 18.8% at Rs97.63 crore for the quarter ended 31 December 2010, compared to Rs82.18 crore in the same quarter of 2009

India Tourism Development Corporation (ITDC) posted net loss of Rs12.40 crore for the quarter ended 31 December 2010.

In the same period of previous fiscal, the company had registered a net profit of Rs2.32 crore, it said in a filing to the Bombay Stock Exchange (BSE).

ITDC's net sales grew by 18.8% at Rs97.63 crore for the quarter ended 31 December 2010, compared to Rs82.18 crore in the same quarter of 2009.



Shadi Katyal

6 years ago

It is PSU and thus a safe job so why worry for any profit.
It is a shame that India over the years have lost rich tourist who have gone to Thailand because of arrogance and incapability to invite tourist. Now we have back packers and they can hardly afford Ashoka's. Beside Law and Order has become a major problem with incidents at Goa and other places. But than it is India and no one has any policy to invite better class tourist.
The few who do go com-paint about arrogance of staff, poor service, bad food and even rats in trains. Forget AirIndia's schedule flights and service

Govt lifts export ban on certain rice, onion varieties

The government has permitted exports of 'Ponni Samba' and 'Matta' varieties of basmati. It has also permitted exports of Bangalore Rose onions and Krishnapuram onions, albeit under licence

New Delhi: The government today allowed the export of three varieties of non-basmati rice grown in the southern states in anticipation of bumper crop production this year, reports PTI.

Partially lifting a three-year old ban, the government has permitted exports of 'Ponni Samba' and 'Matta' varieties of basmati, subject to a cap of 25,000 tonnes each, while shipments of 'Sona Masuri' have been permitted with a cap of 1,00,000 tonnes, the Directorate General of Foreign Trade (DGFT) said in a notification.

"Certain varieties of rice (Sona Masuri, Ponni Samba and Matta) are permitted to be exported with a limit on quantity of export for the KMS (Kharif Marketing Season), 2010-11," the DGFT said, adding that the export ban continues on other varieties.

Exemptions from the export ban would also be contingent upon the value of shipments exceeding $850 per tonne.

These varieties are grown in Tamil Nadu, Kerala, Andhra Pradesh and Karnataka.

According to the agriculture ministry, rice production will rise to 94 million tonnes in the 2010-11 crop year, from 89 million tonnes in the previous year.

The DGFT, an arm of the commerce ministry responsible for export and import-related matters, said that overseas shipment of two varieties of onions has also been permitted, subject to a licence.

"The export of Bangalore Rose onions and Krishnapuram onions is now restricted and their export shall be permitted under licence," it said, adding that the ban on exports of other varieties of onions will continue.

The government had banned the export of onions early this January to rein in soaring prices, which touched Rs70-Rs85 per kg on 21 December 2010, in retail markets of major metros.

The decisions were taken on Wednesday by an Empowered Group of Ministers headed by finance minister Pranab Mukherjee.


ADAG stocks’ manipulation—yes; rumours?

While the Anil Ambani Group has already sought an investigation by SEBI, stock exchanges and investigating agencies into hammering of its companies' stocks, it said today that it has identified brokers sending mass e-mails/SMS/voice calls with baseless sensational charges against group companies

The Anil Ambani group today said it has identified the stockbrokers behind the spread of malicious rumours and "baseless sensational charges" against it and sought immediate action by the market regulator Securities and Exchange Board of India (SEBI) against the perpetrators.

The group said these brokers were sending out mass emails and SMSs and were also making large-scale voice calls with baseless and sensational charges against its firms.

Stocks of various companies belonging to the Reliance Anil Dhirubhai Ambani Group (ADAG) have fallen sharply in the past few weeks and the group has blamed corporate rivals, a cartel of stock market manipulators and 'rumour mongering' for this heavy sell-off.

While the group has already sought a probe by SEBI, stock exchanges and investigating agencies into the matter, it said in a fresh statement today that it has "identified stockbrokers sending mass e-mails/SMS/voice calls with baseless sensational charges against ADA Group."

While the group did not name the brokers in its statement, the names and other details about their suspicious activities have been submitted to SEBI.

Moneylife sources confirm that indeed some brokers were in the know of the developments in New Delhi and were hammering the stocks. However, action that may be taken by various investigating agencies against group companies is a different issue.

"These brokers (are) guilty of blatant violation of SEBI (FUTP) Regulations," the group said. These regulations relate to Fraudulent and Unfair Trade Practices (FUTP) relating to the securities market.

The group said that it was "bringing the matter to the immediate attention of SEBI/cyber crime/police for seizure of electronic and dealing room records."

It also sought a "full-fledged SEBI investigation and punitive interim orders against guilty brokers".

Stocks of ADA group firms plummeted further today after regaining some of the ground lost over the past few weeks yesterday.

The group's telecom arm, Reliance Communications, was over 4.5% down in morning trade, while Reliance Power was down over 3.4%. In addition, Reliance Infra, Reliance Broadcast, Reliance Capital and Reliance Media Works were also down over 2% each.

Hit hard by the steep decline in its stocks, the ADA group yesterday blamed 'corporate rivals' and a cartel of market manipulators for causing panic among investors.

Seeking to assuage the concerns of its over 11 million investors, the group also said it was a victim of an illegal bear cartel that destroyed over Rs3,00,000 crore in market value for the infrastructure sector in the past few weeks.

The comments came a day after the group stocks fell by up to 19%, causing a market value loss of over Rs11,000 crore in a single day on 9th February.

The group company stocks bounced back yesterday, but regained only a small part of the value that they have lost over the past few weeks.




6 years ago

yes ADAG group of fraud people.


6 years ago

ADAG group should be investigated if found guilty they should be banned from the market



In Reply to krishna 6 years ago


Sivaram V

6 years ago

The stock Exchanges should issue clarifications and updates whenever a stock gets hammered. I have never seen a SEBI official or NSE official give clarifications on the Television media about this kind of activities.

SURESH Athavale

6 years ago

Hios father did same ting years back so he knows manipulating tactics. That is why he is crying. But he must know every dog has his day. at present he is at receiving end.

Mukesh Bhai

6 years ago

The very same brokers were sending BUY Recommendations for Reliance Power IPO when it was given at rs 450..

why were u silent then ?

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