Power utility JSW Energy Ltd said it received approval from its board to develop a 660MW power plant at Vijayanagar in Karnataka at an estimated cost of Rs3,300 crore. The project will be funded with a debt-equity ratio of 3:1, JSW Energy said in a statement.
The company also received board approval to create a special purpose vehicle for its 240MW Kutehr hydroelectric power project being develop at Chamba district in Himachal Pradesh, it added.
On Tuesday, JSW Energy shares declined 0.7% to Rs118 on the Bombay Stock Exchange, while the benchmark Sensex 0.1% down at 20,345 points.
Aluminium manufacturer National Aluminium Co Ltd (NALCO) reported a 40% increase in net profit for the second quarter ended September 2010 on higher sales.
For the quarter to end-September, the aluminium producer reported a net profit of Rs224 crore from Rs159.5 crore same quarter last year.
During the September 2010 quarter, its net sales increased to Rs1,454.8 crore from Rs1,143.1 crore, while its total revenues stood at Rs1,479.2 crore as against Rs1,179.1 crore, NALCO said in a regulatory filing.
On Tuesday, NALCO shares declined 0.3% to Rs404 on the Bombay Stock Exchange, while the benchmark Sensex 0.1% down at 20,345 points.
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