Apple launches iPad 2 in India

    Apple's iPad 2 hit Indian stores on Friday, just over a month after the company started selling the updated version of its popular tablet device in the United States.The iPad 2, a thinner and faster version that features two cameras for video chat, is priced between Rs 29,500 and Rs 46,900, depending on the model.

    The model with 16 GB of memory that works only on Wi-Fi is priced at Rs 29,500, while the one that can operate on both Wi-Fi as well as third-generation (3G) mobile networks costs Rs 36,900.Customers have the option to buy an iPad 2 with 16, 32 or 64 GB of memory and can choose a model that works only on Wi-Fi or on both Wi-Fi and 3G.

    The first iPad - which went on sale a year ago - sold 300,000 units on the first day, 500,000 in the first week, and crossed the 1 million unit mark in 28 days

BHEL bags Rs 5,000 cr order

    Engineering major BHEL has bagged a prestigious order worth Rs 5,450 crore from Bajaj Hindustan Delhi for the supply, erection and commissioning of a 3x660-MW capacity thermal power plant at Lalitpur in UP.
    BHEL sources told PTI that the order comprises supercritical boiler (once-through variety) bagged with ahd a generator package.They added that for the eacn of the six 660-MW thermal power plant units, the design engineering manufacturing of boilers would be undertaken by BHEL's Trichy unit, supplies of boiler auxillaries by Ranipet unit, electronics and instrumentation by Bangalore unit and erection and commissioning by BHEL North Sector.

Oriental Bank Q4 net up 5% at Rs 333 cr

    Oriental Bank of Commerce today posted a net profit of Rs 333.66 crore for the quarter ended March 31, 2011, up 5.24% as compared to Rs 317.04 crore for the corresponding quarter a year ago.Total Income has increased to Rs 3,532.14 crore for the quarter ended March 31, 2011, up 19.69% Rs 2,950.9 crore for the quarter ended March 31, 2010.
    The Bank has posted FY11 net profit of Rs 1,502.87 crore for the year ended March 31, 2011, up 32.44% from Rs 1,134.68 crore for the year ended March 31, 2010.Total Income for FY11 has increased to Rs 13,047.89 crore for the year ended March 31, 2011 from Rs 11,457.17 for the year ended March 31, 2010.

United Phosphorus Q4 net profit down

    The company has registered fall of 13.12% in its net profit from Ordinary Activities after tax for the year ended March 31, 2011 at Rs 157.50 crore as compared to Rs 181.29 crore for the year ended March 31, 2010. Its total income has increased by 16.65% at Rs 3064.68 crore for the year ended March 31, 2011 from Rs 2627.34 crore for the year ended March 31, 2010.

    On consolidated basis, the group’s net profit after tax with Income / (Loss) from Associates Companies for the year was up by 5.98% at Rs 557.64 crore as compared to Rs 526.16 crore for the quarter ended March 31, 2010. Total income for the year ended March 31, 2011 has increased by 7.38% at 5898.16 crore as compared to Rs 5492.79 crore for the corresponding quarter of the previous year.United Phosphorus has recommended dividend of 100% or Rs 2 per equity share on the face value Rs 2 each.

Sadbhav Engineering bags Rs 236.20 crore order

    Sadbhav Engineering in joint venture with GKC Projects has been awarded the contract by the Executive Engineer (CPC- I), Sardar Sarovar Narmda Nigam (SSNL), Gandhinagar, Gujarat for aggregating value of Rs 236.20 crore. Sadbhav Engineering will lead the joint venture with 52% participation share.The scope of work includes EPC contract for construction of Radhanpur Sub Branch Canal, Manpura Sub Branch Canal, Distributaries & Minors of Radhanpur Branch Canal, RSBC & MSBC (Earthwork, lining, Structures, Service Road, CR/Escape/HR, Gates, Stop logs, Control Cabin) including Geo Tech investigation, Design of structures and Operation and maintenance for the same for five years.

Karnataka Bank joins hands with Way2Wealth

    The Mangalore based, Karnataka Bank has joined hands with Way2Wealth brokers to launch an online trading facility.Way2Wealth's online trading platform will now be available to the Karnataka Bank's account holders, enabling the customers of the bank to trade from any Internet-enabled location.The bank will offer a unique integrated 3in 1 account for its customers consisting of savings, demat and trading accounts. The savings and demat accounts will be Karnatak Bank while trading account will be of Way2Wealth.Karnataka Bank has a national presence with a network of 463 branches across 19 states and 2 Union Territories.

Dena Bank Q4 net up 15% to Rs 157 cr

       Dena Bank posted a net profit of Rs 157 crore , up 14.59% from 137 crore in the corresponding quarter a year ago.The Net Interest Income for the quarter was posted at Rs 471 crore as compared to Rs 326 crore.The profit for FY11 was posted at Rs 611.6 crore, up 19.64 from Rs 511.2 crore last fiscal.The bank has also recommended a dividend of 22% amounting to Rs 2.20 per equity share of Rs 10 each.

Crompton Greaves reports 5.82% drop in its Q4 net profit

    Crompton Greaves has reported results for the quarter and the year ended March 31, 2011The company’s net profit for the quarter ended March 31, 2011 has decline by 5.82% at Rs 217.64 crore as compared to Rs 231.09 crore for the quarter ended March 31, 2010. Its total income has increased by 8.26% at Rs 1788.37 crore for the quarter under review from Rs 1651.88 crore for the corresponding quarter of the previous year.
    The company has registered growth of 12.47% in its net profit for the year ended March 31, 2011 at Rs 694.33 crore as compared to Rs 617.34 crore for the year ended March 31, 2010. Its total income has increased by 12.67% at Rs 6030.85 crore for the year ended March 31, 2011 from Rs 5352.74 crore for the year ended March 31, 2010.
    On consolidated basis, the group’s net profit for the quarter ended March 31, 2011 was down by 17.97% at Rs 251.43 crore as compared to Rs 306.51 crore for the quarter ended March 31, 2010. Total income for the quarter ended March 31, 2011 has increased by 16.29% at Rs 2954.83 crore as compared to Rs 2540.83 crore for the corresponding quarter of the previous year.
    For year ended March 31, 2011 on consolidated basis, the group’s net profit for the year was up by 3.35% at Rs 888.67 crore as compared to Rs 859.87 crore for the quarter ended March 31, 2010. Total income for the year ended March 31, 2011 has increased by 9.42% at 10105.02 crore as compared to Rs 9234.55 crore for the corresponding quarter of the previous year.

Sujana Metal Products gets approval for amalgamation

   Sujana Metal Products has received approval for scheme of amalgamation of Lakshmi Gayatri Industries, Glade Steel, Sriganga Steel Enterprises and Topaz Steel India with Sujana Metal Products and their respective shareholders with requisite majority.

    The company has received its shareholders and secured creditors approval for the same at their respective meetings held on April 28, 2011. Earlier on March 28, 2011, the company has received approval from Andhra Pradesh HC at Hyderabad for the same.

Vijaya Bank’s Q4 net profit declines 59%

        Vijaya Bank has announced results for the quarter and year ended March 31, 2011.The bank has reported a decline of 58.58% in its net profit of Rs 54.23 crore for the quarter ended March 31, 2011 as compared to Rs 130.92 crore for the quarter ended March 31, 2010. Total income has surged by 15.88% to Rs 1751.66 crore for the quarter ended March 31, 2011 where as the same was at Rs 1511.67 crore for the quarter ended March 31, 2010.

    For the year ended March 31, 2011, the bank’s net profit increased marginally by 3.25% to Rs 523.82 crore as compared to Rs 507.29 crore for the year ended March 31, 2010. Total income of the bank has rose by 8.45% to Rs 6377.24 crore for the year ended March 31, 2011 from Rs 5880.10 crore for the year ended March 31, 2010.

    Vijaya Bank has recommended a dividend of Rs 2.50 per share on bank’s equity share capital and at 7.75% per annum on Perpetual Non Cumulative Preference Share Capital (PNCPS) of the Bank payable of Government of India for the Financial Year 2010-2011.

Phoenix Mills gets approval for equity stake in Pinnacle

    Phoenix Mills has received an approval for acquisition of residual 33.33% equity stake in Pinnacle Real Estate Development (Pinnacle) by the company. Pursuant to acquiring the residual equity stake Pinnacle would become a wholly owned subsidiary of the company.The company has received the approval for acquisition at its board meeting held on April 28, 2011.

Last year in October, Phoenix Mills had secured its board’s nod for the acquisition of the entire shareholding of Butala Farm Lands, which holds 8% equity in the company's SPV for the Phoenix Market City project in Pune, Vamona Developers. The board gave its approval at its meeting held on October 28, 2010.