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Aluminium may substitute copper on price volatility
All the base metals on the London Metal Exchange continue to rise higher and higher, aided principally by the growing investor support, improving global economic sentiment and inflation in smelter operational costs. At this point, with investors deciding to pin their faith on positives like good showing by China and India; and Euro zone breaking out of recession and not to be bothered by still wobbling US economy, copper is bid at $7,454 a tonne and aluminium at $2,293 a tonne, for ready delivery.

OilMin not to let RIL off hook for MoU with ADAG
The government has not let Reliance Industries off the hook for signing a private MoU with a firm run by the Anil Ambani Group to divide entire gas volumes from KG basin fields, thus holding industrial development to ransom, the petroleum ministry said today.

News of the day

Reliance Life IPO likely in Q1 of next fiscal: Ghosh
Anil Ambani Group"s life insurance venture Reliance Life expects to tap the capital market with its initial public offer in the first quarter of next fiscal, a top company official said here.
Corporate

Pennar Q1 net profit at Rs 38 crore

Pennar Industries, a leading player in engineered metal products, has clocked a 24 per cent rise in its first quarter net profit at Rs 38.1 crore as against Rs 30.8 crore in the same period previous year. - SBM net up 6 times in Q1 at Rs 82 cr - CCI Q1 net profit dips marginally at Rs 200 cr - TCS Q1 net up 19% at Rs 1,534 cr - IBM posts 12% jump in Q2 profit; paints rosy outlook - Colgate Palmolive Q1 net up 43% YoY - Opto Circuits" Q1 net up 31.7% Total revenues during the quarter declined to Rs 195.5 crore as compared to Rs 200 crore in the same period last year, a press release said here. During the period, the company has focused more on the heavy engineering and infrastructure segments, which has helped it to strengthen its position in the industry, it said. EBIDTA, during the quarter, stood at Rs 24.5 crore as against Rs 17.7 crore in the year-ago period, the release said.


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