Pudumjee Pulp Q1 net profit Rs3 crore vs Rs206 crore

Pudumjee Pulp & Paper Mills Ltd said its first quarter net profit rose to Rs3 crore compared to Rs2.6 crore during the same quarter last year.

The company's total revenue decreased to Rs64.6 crore in the June 2010 quarter from Rs67 crore during the same quarter a year ago, it said in a regulatory filing.

On Tuesday, Pudumjee Pulp shares rose 4.9% to Rs26 on the Bombay Stock Exchange, while the Sensex closed 0.2% higher at 18,114 points.

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Cholamandalam Investment Q1 net profit jumps 385% to Rs15.8 crore

Cholamandalam Investment and Finance Company Ltd said its first quarter net profit rose 385% to Rs15.8 crore from Rs3.3 crore in the same quarter last year. During the period its consolidated revenues increased 5.8% to Rs259.4 crore from Rs245 crore for the same period last year.

Overall buoyancy in the economy led by the surge in the commercial vehicles industry helped the company to maintain the growth momentum and post a good quarter performance, said the company in a regulatory filing.

Vehicle finance disbursed Rs952 crore during the quarter and home equity disbursed Rs294 crore. The corporate and mortgage finance product float rose to Rs535 crore as against Rs357 crore in the same quarter last fiscal.

On Tuesday, Cholamandalam Investment shares rose 0.6% to Rs149 on the Bombay Stock Exchange, while the Sensex closed 0.2% up at 18,114 points.

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Tata Capital partners with Mizuho Securities for private equity fund

Tata Capital Ltd said its Singapore-based unit Tata Capital Pte Ltd signed a limited liability partnership agreement with Mizuho Securities Co Ltd (MHSC) to establish a private equity fund and to invest in unlisted Indian companies in the mid-market space.

As part of the agreement, Tata Capital will partner with MHSC to raise private equity funds in Japan and other key international markets like South-East Asia, Middle-East and parts of Asia-Pacific for its Singapore-based growth fund, it said in a release.

The Tata Capital Growth Fund aims to provide capital and operational excellence to mid-market companies through classic private equity transactions. It is estimated that over $35 billion of equity capital would be required per annum to enable Indian mid-market companies to achieve their growth potential and Tata Capital Growth Fund aspires to provide a part of this risk capital.

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