Unity Infra Q1 net profit up at Rs19.6 crore

During the June 2011 quarter, Unity Infra bagged orders worth Rs530.73 crore

Infrastructure developer Unity Infraprojects has posted a net profit of Rs19.58 crore in the June quarter this fiscal against Rs19.51 crore in the year-ago period.

The company’s total income for the period stood at Rs376.03 crore, up 10.66% compared with Rs339.79 crore in Q1 FY11.

“Given the current scenario and number of orders bagged in this fiscal, we are optimistic to transcend our stakeholder’s expectation,” the vice-chairman and managing director, Abhijit Avarsekar, said in a statement.

During the quarter, the company bagged orders worth Rs530.73 crore. Its total order book as of 16th August stands at Rs3,478 crore, the release said. The earnings per share rose to Rs2.65 from Rs2.63.

On Tuesday, Unity Infra ended 3.66% down at Rs52.65 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.65% to 16,730.94.

 

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Government defends police action against Hazare, team members

Union home minister says Anna Hazare and his team members could have challenged the conditions imposed by the police on their protest in a court

New Delhi: The government has defended the detention of Anna Hazare, saying that the Delhi police had taken the leader of the anti-corruption movement into custody after they came to the conclusion that he and his supporters intended to defy prohibitory orders which would amount to a cognisable offence.

"Police met Anna Hazare this morning and he told them that he intended to defy the prohibitory orders. At that time, police came to a conclusion that he would commit a cognisable offence. They invoked article 107 and 151 of the Criminal Procedure Code which calls for preventive measures," Union home minister P Chidambaram told a news conference today.

Mr Chidambaram said that after being taken into custody, Mr Hazare (73) was taken to the Police Officers Mess in Civil Lines and that he would be produced before a magistrate.

The minister said that about 1,200-1,300 people had been detained across the national capital. Six members of Anna Hazare's team were also detained.

Mr Chidambaram said that if Mr Hazare and his supporters were not happy with the conditions imposed by the Delhi police on their planned protest they could have challenged it in a court of law. "They were free to go to court then and they are free to go to court even now," the minister said.

The minister ridiculed Mr Hazare's contention that their draft Jan Lokpal Bill should be considered, saying, "Laws cannot be made by social activists in a maidan."

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HDFC Mutual Fund unveils 92 days fixed maturity plan

HDFC Mutual Fund new issue closes on 18th August

HDFC Mutual Fund has launched HDFC FMP 92D August 2011 (1), a close-ended income scheme.

The investment objective of the scheme is to generate income through investments in debt/money market instruments and government securities maturing on or before the maturity date of the respective plan(s). The tenure of the scheme is 92 days.

The new issue closes on 18th August. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Bharat Pareek and Miten Lathia (for Overseas Investments) are the fund managers.

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