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IOC shows Rs 284 cr Q2 profit on cheaper crude, drop in losses
Riding on lower crude oil prices and a reduced under-recovery, Indian Oil Corporation (IOC), the country’s largest oil marketing company, has reported a net profit of Rs 284 crore for the quarter ended September 30, compared to a loss of Rs 7,047 crore in the corresponding quarter last year. Net sales, however, declined 18.7 per cent to Rs 60,392 crore on account of lower prices of petroleum products.

No cap on executive pay: Khurshid
Corporate affairs minister also rules out private sector job quota.

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Godrej Industries signs MoU with group companies
Godrej Industries, leading chemicals manufacturer and exporter of chemicals products, has entered into a memorandum of understanding (MoU) with Godrej & Boyce Mfg Co and Godrej Properties for development of the property at Vikhroli.
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Nalco SAPs at Damanjodi demand R & R benefits

About 1000 Substantial Affected Persons (SAP) in the mining and refinery complex of National Alumina Company Limited (Nalco) at Damanjodi in Koraput district have demanded rehabilitation benefits at par with the SAPs of the company in its Angul smelter and power complex. - Reliance, Essar, Shell for freeing petrol, diesel prices - Steep export decline arrested;outlook positive - Poor economy not an excuse for layoffs: Murthy - Tata Power weakens on drop in net - Markets recover at close - Krishna warns of protectionism-led instabilities Although Nalco has provided rehabilitation assistance to the Local Displaced Persons (LDPs), it has not been provided any benefit to the SAPs as per its own rehabilitation policy. The rehabilitation policy of Nalco prescribed that the LDPs whose entire house and land have been acquired and SAPs whose one-third of land has been acquired would be provided rehabilitation assistance (RA). But except LDPs, the Nalco has not been provided any benefit to the SAPs, they alleged. The land acquisition process of Nalco at Damonjodi started in 1981-82 and 4535.95 acres of land was acquired to establish the refinery and mining complex. The company had paid Rs 1, 53, 13,242 towards compensation to the land losers. While around 600 families were displaced for the project, 597 of them have been provided with house in the two rehabilitation colonies set up at Analabadi and Kontaguda. Moreover, one able person from each displaced family was provided employment in Nalco, the company sources claimed.


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