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Corporate India warms up to adoption of ITIs
A significant change is happening in the country’s Industrial Training Institutes (ITIs). Two years after the government proposed upgrading 1,397 ITIs into Centres of Excellence in specific trades and skills under private-public partnership, Corporate India is warming to the idea.

Open offers for Great Offshore conclude
Bharati Shipyard has received 10.2 million shares in the open offer made for acquiring an additional stake of 20 per cent in Great Offshore at Rs 590 a piece. The shares are equivalent to a stake of 27.5 per cent. Bharati had made the offer against ABG Shipyard’s counter offer to buy a stake of 33.8 per cent at Rs 520 a share.

News of the day

PM to meet Chinese Premier at ASEAN meet
The serene Thai beach resort here is expected to provide an ideal setting for tomorrow"s meeting between Prime Minister Manmohan Singh and his Chinese counterpart Wen Jiabao to lower temperatures built over recent weeks on border and other issues.
Business Ideas

Apollo Tyres net, sales surge

Apollo Tyres, India’s second largest tyre manufacturer by tonnage, posted an 18-fold increase in net profit at Rs 102 crore for the quarter ended December 31, as compared to Rs 5.5 crore in the same quarter a year earlier. - Glenmark Pharma net up 15.5% - Lupin"s consistent growth continues - GMR Infra net down 85% - NTPC net up 5% owing to lower fuel costs - Aditya Birla Nuvo comes out of the red - Tata Motors net at Rs 400 crore However, the jump is primarily a result of the low base. In the last financial year, margins of all tyre companies were impacted, due to lower demand. Net sales of the company for the reporting period increased by 46.5 per cent to Rs 1,323 crore, as against Rs 903 crore in the corresponding quarter last year. Raw material consumption as a percentage to sales saw a significant drop to Rs 799 crore, or 60 per cent, as compared to Rs 700 crore, or 76 per cent, in the corresponding quarter last year. Total expenditure went up 31 per cent to Rs 1,147 crore, as compared to Rs 874 crore. The company said its new factory at Chennai is expected to be commissioned in the first quarter of next financial year.


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