Mundra Port and SEZ Q1 net rises to Rs211.3 crore

The Adani Group led Mundra Port and Special Economic Zone Ltd reported a net profit of Rs211.3 crore for the first quarter ended 30 June 2010 as compared to Rs170.8 crore for the same quarter last year.

Its total revenue has increased to Rs416.4 crore for the April-June 2010 from Rs321.4 crore for the quarter ended 30 June 2009.

On Wednesday, Mundra Port and Special Economic Zone shares jumped 10.6% to Rs754 on the Bombay Stock Exchange, while the Sensex closed 0.6% higher at 18,217 points.

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L&T wins Rs1,025 crore orders in buildings and factories segment

Engineering and construction company Larsen & Toubro Ltd (L&T) said its buildings and factories unit secured orders worth Rs1,025 crore for the construction of various projects.

The projects include construction of two hospital buildings, residential projects in Mumbai and a cement plant for a major cement manufacturer in the country, said the company in a press release.

On Wednesday, Larsen & Toubro shares ended 2% up to Rs1,806 on the Bombay Stock Exchange, while the Sensex closed 0.6% higher at 18,217 points.

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FDI plunges by 45% to $1.41 billion in June

New Delhi: Foreign direct investment (FDI) in the country declined by about 45% to $1.41 billion in June this year compared to $2.58 billion in the same month last year, reports PTI.

The sectors, which attracted foreign investment, include services, telecommunication, construction activities and computer software and hardware, the official added.

Crisil chief economist D K Joshi said that there was no specific reason for this decline as the foreign inflows fluctuates every month.

Foreign investment in May 2010 was at $2.2 billion.

"In the coming months, inflows are likely to be in healthy state...there could be some volatility given the global scenario, particularly the European events," Mr Joshi said.

Meanwhile, Parliament was today informed that FDI during the first quarter of 2010-11 was at $5.80 billion. During April-June 2009-10, FDI inflows were $7.01 billion.

The government has been taking measures to streamline the procedures for foreign investors.

"The government is making sustained efforts to make the FDI policy regime increasingly attractive and investor friendly, with a view to attract investments from all major investing countries," minister of state for commerce and industry Jyotiraditya Scindia said in a written reply to the Rajya Sabha.

The FDI for 2009-10 at $25.88 billion was lower by 5% from $27.33 billion in the previous fiscal.

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