Indian Bank ties up with TVS for vehicle finance

Indian Bank loan book is expected to be touch Rs75 crore during the next financial year

Public sector lender Indian Bank said it has signed an agreement with TVS Motor Company for financing the company's vehicles.

"The memorandum of understanding (MoU) will help to bring three wheeler drivers into structured banking and enhance Bank's collateral free lending," Indian Bank chairman TM Bhasin said.

Through this tie-up with TVS Motor Company, the Bank's loan book by March 2011 would increase to Rs10 crore and its expected to be touch Rs75 crore during the next financial year.

"Besides Indian Bank, we are having tie-up with other public sector undertaking bank. But this will highly benefit the borrower as they (Indian Bank) offers them to pay about 15% on the on-road price of the vehicle which is comparatively lower," TVS Motor Company vice-president (sales and service) three wheeler division K Srinivasan said.

On Wednesday, Indian Bank ended 1.90% down at Rs214.30 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.15% to 18,300.90.

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Supreme Infra wins orders worth Rs239 crore

Supreme Infrastructure India has won three new orders worth Rs238.95 crore

Supreme Infrastructure India Ltd said that it has won three new orders worth Rs238.95 crore. The first order is for the construction of multi storied towers HEX City, situated at Navi Mumbai. The project is worth around Rs137.5 crore and is expected to complete by March 2013.

The second order is for construction of dwelling units for DGMAP, Kolkata worth Rs71.1 crore and is expected to complete by December 2013.

The third order is from Mahalaxmi TMT for the laying of foundation and construction of for the steel plant at Jalna-Wardha. The project is worth Rs30.35 crore and is expected to complete till June 2012.

On Wednesday, Supreme Infrastructure ended 0.30% up at Rs152.35 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.15% to 18,300.90.

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Bartronics India Q3 net profit stands at Rs9.93 crore

In the December 2010 quarter, Bartronics net sales increased to Rs163.99 crore from Rs145.53 crore in the corresponding quarter last year

Bartronics India Ltd, one of India's largest bar code and RFID technology companies, said that its net profit for the third quarter ended 31 December 2010 increased to Rs9.93 crore from Rs9.90 crore in the corresponding quarter last year.

In the December 2010 quarter, the company's net sales increased to Rs163.99 crore from Rs145.53 crore in the corresponding quarter last year.

On Wednesday, Bartronics ended 2.28% up at Rs64.95 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.15% to 18,300.90.

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