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Opto Circuits gains on 32% jump in net
The stock touched a high of Rs 177 and finally settled at Rs 175, up 6% from the previous close. The counter witnessed trades of 537,952 shares as compared to the two-week daily average traded volumes of 651,329 shares on the BSE.

Bihar to seek Rs 10,500 cr central assistance for drought
After declaring 26 districts as natural calamity-hit following insufficient rains in the state, the Bihar government today said it would sought a Rs 10,500-crore Central package to meet the situation.

News of the day

Smart thinking
The Railways is not short of smart ideas. After using the inside walls/doors of trains like the Rajdhani Express to place ads, another smart idea is to make use of the long waiting period at its telephonic information services. Those calling 139, the information service, are asked to enter their choices (1 for Hindi, and so on) on various prompts — after a while, ads of Tata Indicom phones get played.
Public Company

Hind Copper to invest Rs 3.5k cr to up prod to 11 MTPA

The government today said Hindustan Copper would ramp up production to 11 million tonnes per annum by 2017 with an investment of Rs 3,500 crore. - Sical bags Rs 163 cr contract from Hind Copper - Hindustan Copper to appoint merchant bankers on FPO - Hindustan Copper to raise Rs 1,700 cr via FPO - Hindustan Copper rises 10% - Govt may divest stake in Hindustan Copper - Hindustan Copper rebounds, ends flat Currently, it produces 3.15 million tonnes per annum (MTPA). The company has also sent a proposal for 20 per cent share sale to the Ministry of Disinvestment, including 10 per cent for meeting its expansion needs, it said. "HCL is aggressively pursuing increase in mine production by expansion of current mines, re-opening of closed mines at Ghatsila and development of new deposit...To increase mine production from current level of 3.15 million tonne/annum (MTPA) to 11 MTPA by 2017 with an investment of Rs 3,500 crore," Mines Ministry said in a statement. It said the company has kept the option for acquiring copper deposits in other geographies open to enhance production. Regarding disinvestment the statement said, "the company has sent a proposal for a follow on public offer (FPO) to the Ministry for Disinvestment of 20 per cent of company’s equity – 10 per cent for GoI and 10 per cent for meeting its expansion needs". As per estimates, the disinvestment of 20 per cent equity could mobilise Rs 7,000 crore, half of which may be used for expansion needs.


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