Tata Chemicals Ltd is planning to roll-out a nutrient-based basal fertiliser 'Paras Farmoola', across the country and will invest Rs110 crore in setting up manufacturing units for it. "We have developed Paras Farmoola for select crops in a specific region based on soil, crop and water sample analysis," Tata Chemicals managing director R Mukandan said.
He said that the company is planning to set up two more such units with an investment of Rs55 crore each. The company said Paras Farmoola is designed to contain macro and micro nutrient as per the requirement of a specific region and requires a comprehensive land survey before its launch in any part of the country.
Tata Chemicals is now in the process of conducting a comprehensive land survey in West Bengal to launch their product in the state. The company is planning to roll-out the product across the country. Apart from West Bengal it will soon start surveys in other parts of the nation as well.
Tata chemicals would also carry out educational and awareness programmes with farmers across the country in a phased manner.
On Tuesday, Tata Chemicals rose 0.60% to Rs380.25 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.33% down at 19,691.84 points.
IT company Mphasis Ltd said its consolidated net profit rose by 20% to Rs1,090.75 crore for the year ended 31 October 2010, over the same period last year.
Revenues rose to Rs5,036.52 crore during the year ended October 2010 against Rs4,263.88 crore in the same period last year, the company said in a statement.
On a standalone basis, the company has reported a net profit of Rs996.88 crore, up 19% over the same period last year.
The board of directors of the company proposed a final dividend of Rs4 per equity share of Rs10 each for the year ended October 2010.
On Tuesday, Mphasis gained 8.22% to Rs613 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.33% down at 19,691.84 points.
Vijay Mallya-owned Kingfisher Airlines Ltd said it has entered a code sharing and frequent flyer agreement with American Airlines, which will be effective from 2011.
"The code share on American's flight to Chicago will mark the first time ever that Kingfisher Airlines will place its code on any flight operating into the US," executive vice president-commercial, Kingfisher Airlines Manoj Chacko said.
In aviation business, code sharing means selling space on the same flights, where a seat can be purchased on one airline but is actually operated by a cooperating airline under a different flight number or code.
As per the agreement, Kingfisher will place its code on American Airline's daily flight between New Delhi and Chicago, and on selected other flights between the United States and London's Heathrow airport, the company said in a statement.
On the other hand, the American Airlines can place its code on Kingfisher's flights from London Heathrow to both New Delhi and Mumbai, and its domestic network, the statement added.
Kingfisher, which operates on eight international destinations including London, Hong Kong and Singapore, is a member-elect of Oneworld-an alliance of international airlines, while American Airlines is among the founder members of the alliance.
On Tuesday, Kingfisher Airlines fell 7.08% to Rs72.85 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.33% down at 19,691.84 points.