Rel Retail to open stores in NCR
New Delhi: Reliance Retail juggernaut will open nine Reliance Fresh stores across Ghaziabad, Faridabad, Gurgaon and Noida with an estimated investment of Rs8,000 crore.

Reliance Retail has lined up Rs25,000 crore in investments over the next five years for its retail business.

The company intends to open 400 to 600 stores in the region covering 50 million square feet of retail space, sources said.
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BHEL Q3 net up 58 pc: to offer 1:1 bonus
Mumbai: Bharat Heavy Electricals (BHEL) has reported a 58 pc increase in net profit at Rs667.65 crore for the third quarter ended December 31, 2006 when compared with Rs423.19 crore in Q3FY06.

According to the company its total income increased to Rs4,525.16 crore from Rs3,413.15 crore in Q3FY06.

The company's board has approved the issue of bonus shares in the ratio of 1:1 i.e one share for every share held and an interim dividend of 125 pc i.e. Rs12.50 per share.
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Ranbaxy gets favourable ruling from Canadian court
New Delhi: Ranbaxy Laboratories has said that the Federal Court of Canada has favoured it in a judgment on a patent dispute with Pfizer. It said the court found Pfizer's Canadian patent of the cholesterol lowering drug, atorvastatin, CA 2,021,546 invalid on the grounds that Pfizer had failed in "correctly and fully describing the invention."

Ranbaxy, said it was pleased with this decision as it allows the entry of Ranbaxy's generic atorvastatin in Canada upon marketing approval.

Pfizer has said it would challenge the ruling.
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Microsoft to open offices in six more cities
Kochi: Microsoft Corporation India plans to open offices in six more cities India taking its presence to a total of 13 cities. The new cities the company has identified for opening offices are Ahmedabad, Indore, Nagpur, Chandigarh, Kochi and Coimbatore.

The expansion plan is in keeping with Microsoft's vision to empower a broad section of small and mid market organisations to understand better the role which technology can play in driving growth and competitiveness, a press release from the company said. The company's strategy includes establishing direct sales infrastructure, broadening partner ecosystem as well as market education initiatives and programmes.

The enhanced presence is expected to enable the small and mid market organisations to easily access a comprehensive portfolio of its products and services.

As per Microsoft's hub and spoke model, the respective regional branches would extend functional expertise and support the direct team in each city.
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Apollo Hospitals PAT at Rs4.7 crore
Chennai: Apollo Hospitals' profit after tax rose by 20 pc to stand at Rs4.7 crore for the nine months ended December 31, 2006, over Rs3.9 crore posted for the same period last year.

The third quarter net profit was up by 6.25 pc to Rs1.7 crore over Rs1.6 crore in the same period last year.

The company's total income rose from Rs184 crore to Rs234 crore for the quarter ended December 31, 2006.
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TDSAT issues notices to TataSky, India TV and Total TV
New Delhi: Broadcast tribunal TDSAT has issued a notice to Direct-to-Home (DTH) operator TataSky for not including two news channels - India TV and Total TV - on its platform despite promises made to its customers.

The tribunal has also issued notices to India TV and Total TV asking why their channels were not available despite being free-to-air channels.

The concerned parties have to file their replies within two weeks.

TataSky is an 80:20 joint venture between Tata and broadcast major Star.
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GMR to make Rs30,000 crore bid for road development projects
New Delhi: GMR Group plans to bid for ten forthcoming road development projects in various parts of the country, worth around Rs30,000 crore.

The projects include six laning of roads and are coming up in Surat and Chennai. The overall value of the projects put together is estimated to be around Rs30,000 crore. The company said it is confident of bagging at least two to three projects.

The Bangalore-based Group said it has already tied up funds for all the four new road schemes worth Rs2,347 crore it is undertaking and has started the construction and implementation of these projects.

The projects include Ambala-Chandigarh (35 Kms), Farukhnagar-Jadcherla (58 Kms), Adloor Yellareddy-Pochanpalli (102 Kms) and the Tindivanam-Ulundurpet (73 Kms).

The Group entered into the roads sector when the government invited bids to develop roads under the Golden Quadrilateral Scheme in early 2000 and has completed four-laning of the highways between Tuni-Anakapalli on NH-5 in Andhra Pradesh for a distance of 60 kms and between Tambaram-Tindivanam for a distance of 93 km in Tamil Nadu.
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Indian oil cos likely to get stake in Sakhalin-III
New Delhi: Indian and Russian oil companies are working on a strategy that would give Indian companies a bigger stake in Russia's vast oil reserves while Russian oil companies will get into the downstream refining and retailing segment in India.

For starters India is pitching for a stake in the Sakhalin-III oilfields, which would be auctioned in the coming months.

Recently, speaking at a conference organised by CII and Ficci, Russian President Vladimir Putin said he would support Indian interests. In a quid pro quo strategy, Indian refining and marketing oil cos will hold talks with Gazprom and Rosneft under the joint working group to explore possibilities of Russian investment in India's downstream sector.
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