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IRB Infra Q2 PAT jumps 80% at Rs 74.31 cr
Mumbai-based IRB Infrastructure Developers today reported an 80 per cent jump in profit after tax (PAT) at Rs 74.31 crore in the second quarter ended September 30, 2009.

World Bank loan to lower NHAI's borrowing needs
The $2 billion World Bank loan the government is seeking for road development will reduce the total borrowing needs of the National Highways Authority by 20 per cent to Rs 1,53,421 crore over the next 21 years.

News of the day

Only 2 bidders in fray for CWG broadcast
The multi-million dollar production contract for the Commonwealth Games (CWG) 2010 may be decided between two entities — consortium of Nimbus Communications and Canadian Broadcasting Corporation, and Satellite Information Service Live of United Kingdom — as only these two entities are said to have submitted the bids today, highly places sources said.
Business Ideas

IDBI scouting for buyouts, two banks on radar

After acquiring United Western Bank three years ago, IDBI Bank is at it once again and has identified two domestic lenders as possible targets. - "MFIs need Rs 2,500 crore to meet norms" - Teri, Sidbi to facilitate Chd engineering cluster - IDBI Fortis Life Insurance to break even by 2015 - IDBI Fortis Life launches incomesurance product - Life premium income jumps 16.6% in H1 - OSFC inks pact with SIDBI to avail of concessional credit Disclosing this, the public sector bank"s Chairman and Managing Director Yogesh Agarwal told reporters here today that talks were on with the two banks. He did not divulge the identities of the two banks. IDBI"s move is in line with the central government"s thinking favouring a consolidation in the Indian banking sector. Agarwal said IDBI does not need to raise funds for the acquisitions but may look at capital raising to finance its business growth. Agarwal said the bank has dropped its earlier plan to sell its Pune-based home loan subsidiary, IDBI Home Finance (IHFL). "It is not on our radar now (sale of IHFL)...It will continue as it is," he said.


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