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Universal Cables & IFGL Q2 results
Universal Cables Limited, belonging to the M P Birla group, has clocked in a net profit of Rs 6.95 crore for the quarter ended September 30, from a net loss of Rs 1.37 crores in the corresponding quarter of the previous year. Net sales were at Rs 130.11 crore against Rs 157.96 crore in the previous corresponding quarter. D R Bansal, chief executive officer, attributed this performance to the initiative of putting up a vertical continuous vulcanization line for the manufacture of XLPE cables up to 400 kV in technical collaboration with Furukawa Electric Co Ltd, Japan.

Flat's better
Railway Minister Mamata Banerjee is not the only minister in the UPA cabinet who prefers a four-bedroom flat to a bungalow in Lutyens’ Delhi. Bijoy Krishna Handique, minister of mines, hasn’t shifted to a bungalow either and is quite happy to stay at his existing flat.

News of the day

Starbucks's Schultz pushes instant coffee
Starbucks Corp Chief Executive Officer Howard Schultz is shifting the coffee seller’s focus from cost cutting to growth by promoting new products, including Via instant coffee and its Seattle’s Best Coffee brand.
Business Ideas

Provogue India to buy back shares worth Rs 50 cr

Garments maker Provogue India today said it will buy back shares worth Rs 50 crore from its shareholders through open market route. - Sensex dips below 15K - Airlines stocks in red on ATF price hike - Markets extend losses - MIC Electronics to raise Rs 218 cr via warrants, GDRs - Reliance tops combined value chart - Elantas Beck soars on delisting move "The directors have approved to repurchase 50 lakh shares at Rs 100 a piece, aggregating to Rs 50 crore," Provogue India said in a filing to the Bombay Stock Exchange. The buy-back is subject to necessary regulatory approvals, the filing added. Shares of Provogue India were trading at Rs 66.50 on the BSE, up 1.99 per cent from previous close.


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