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RCom Q1 net profit rises 8.3% to Rs 1,637 cr
Telecom major Reliance Communications (RCom) has posted a consolidated net profit of Rs 1,637 crore for first quarter ended June 30, 2009, an increase of 8.3 per cent, compared with a net profit of Rs 1,512 crore recorded during the same period of previous financial year.

Hyundai net jumps 104% in 2009 on India, China sales
Riding on back of brisk sales in India and China, Korean car major Hyundai Motor Company today said its net profit for the year 2009 zoomed by 104.5 per cent at 29.615 trillion won (about Rs 1,18,950.16 crore) from the previous year.

News of the day

Nalco, NPCIL ink pact for nuke power generation
The aluminium major National Aluminium Company Limited (Nalco) and the state owned Nuclear Power Corporation of India Limited (NPCIL) have signed a memorandum of understanding (MoU) for collaboration with each other for setting up nuclear power plants in the country.
Public Relations

Axis PE, IL&FS announce investment of Rs 90 crore in SGEL

Axis Private Equity (Axis PE) and IL&FS Financial Services have announced an investment of Rs 90 crore in Shalivahana Green Energy Ltd (SGEL). - Hutch warns investors of tax, other obligations in Vodafone India deal - GM India says all investments complete - Victor Blank to quit Lloyds Banking Group: Report - Murugappa group to invest Rs 586 cr in group firms - Tube Investments posts Q4 net loss of Rs 4.43 crore">Tube Investments posts Q4 net loss of Rs 4.43 crore - PTC India, Tube Investments Q4 result Axis PE will invest Rs 54 crore directly in SGEL, while IL&FS Financial Services will invest Rs 36 crore, a statement said here today. This is Axis PE"s fifth investment following previous investments aggregating Rs 320 crore in water supply and sanitation, laying oil and gas pipelines, railway EPC and hospitality sectors, the statement said. SGEL is a leading renewable energy player with focus on development and operation of biomass and small hydro power projects. Currently, SGEL has four operational projects having aggregate capacity of 35mw and is at an advanced stage of developing a number of biomass and small hydro power projects, it said. With the capital infusion, SGEL is well-positioned to expand its capacity to over 250mw, it added. This investment further reaffirms Axis PE"s commitment to invest in infrastructure-related companies in high-growth segments such as renewable energy, Axis PE Managing Director and CEO Alok Gupta said. SGEL Managing Director M Komariah said, "We are glad that Axis PE and IL&FS have chosen to invest in our company and look forward to receiving strategic inputs from them. The investment will nurture future growth and enable the company to rapidly scale up its business." IL&FS Limited Managing Director Hari Sankaran, said that the company has created a dedicated institutional platform that provides access to all forms of growth capital, knowledge and best practices framework to emerging companies in the renewable energy space.


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