Sarkaritel.com News and Features 

Corporate News : Archives

December 2004

• Govt to announce banking sector reforms soon: FM
• PNB to donate Rs. 5 crore to PM’s Relief Fund
• Lanka IOC contributes 20mn Lankan Rs. for relief
• Maruti pledges relief for Tsunami victims
• Oil industry launches relief for Tsunami affected
• IOC Declares 45% Interim Dividend for 2004-05
• GAIL declares 40 % interim dividend of Rs. 338 cr
• India forex reserves $ 130 million
• BSNL presents Rs. 200 cr interim dividend to Govt
• Min. of Overseas Indian Affairs allocated business
• Steel exports down by 16.3 % for Apr-Nov 2004
• PDIL R&D & E&C division to be closed down
• D. Krishnan takes over as LIC PR Chief
• Reliance board to meet on Dec 27
• PNB signs MoU for Western Union
• IOC raises loan facilities of US$ 350 million
• PM inaugurates DMRC underground section
• 12th Finance Commission submit report to President
• SAIL Board nod for Rs. 675 cr upgradation schemes
• IndianOil bags Innovative HR Practices Award
• IOC & OIL sign pact for overseas opportunities
• R. N. Bhardwaj takes over as LIC Chairman
• Indian Airlines registers net profit of Rs. 44 cr
• PNB increases domestic term Deposit Rates
• GAIL inks pact with Gazprom and Stroytransgaz
• Inflation unchanged at 7.34%
• SC asks Reliance Infocomm to pay BSNL Rs. 85 cr
• REL board asks six directors to stay on

November 2004

• Lanka IOC's IPO fetch $34 mn
• BSNL cut fees for new landline connection to Rs 500
• Govt to offer 20 oil blocks in NELP-V in Jan'05
• ONGC signs MoU with Russian institute for UCG
• BHEL announces 'Excel Awards'
• PNB launches flexible housing loan scheme
• BHEL bags Rs.26 Crore for Steam Turbine Gen-sets
• PNB revises Interest Rates Domestic Term Deposits
• ONGC adjudged best Oil & Gas Company in Asia
• GAIL, Gazprom jointly work on Hydrocarbon Sector
• Bank of Maharashtra to raise Rs 150 cr

• Inflation falls to 7.06 per cent

• Air cleared over NPA recovery Act

• Banks need major reforms: FM

• Car sales up 31.2 per cent on lower interest rates

• Vijaipur Unit Of Nfl Produces Neem-Coated Urea

• R.K. Singh elected to world railways highest body

• IOC clinches $3 bn gas deal in Iran

• India's forex reserves cross $120-bn mark

• NTPC shares jump 13% on debut

October 2004

• MTNL Q2 net down 6.83% to Rs 207.86 cr
• ONGC net up 15% to Rs 5,692 cr in Q2
• NTPC Q2 net up 18% at Rs. 1094 cr
• SAIL achieves highest-ever net profit of Rs. 2625 cr
• BHEL declared India’s Profitable Construction Co.
• PNB H-1 net profit zooms 33.3% to 735.22 cr
• SAIL net up 199.6% at Rs 1513 cr
• OBC Q2 net up 32% at Rs 214 cr
• HPCL net falls 33.69% at Rs 294.31 cr
• IRCON turnover increases by 38% at Rs. 465 cr
• NALCO pays Rs. 224.6 crore dividend to Gpvt
• RBI hikes repo rate by 25bps
• Highlights of Credit Policy Review
• K K Khanna, SAIL gets 'Imminent Engineer Award'
• Power Grid pays Rs. 125 cr. dividend to govt.
• ONGC gives dividend cheque of Rs. 1057 cr to PM
• Coal India Limited pays Rs. 11 cr dividend
• NFL presents dividend of Rs. 24.91 cr. to govt.
• BHEL bags Rs. 190 cr. for Gas Turbine Gen. sets
• PNB announces festival bonanza
• BSNL to slash rates to Sri Lanka from Oct 21
• CONCOR pays Rs. 51.25 cr. dividend for 2003-2004
• CCEA approves Rs. 4,091 cr. for NALCO expansion
• India and Germany discuss 'Economic Cooperation'
• Govt announces broadband policy
• Brazil removes anti dumping on Jute Exports
• Oil India Ltd pays Rs. 168 crore dividend to Govt
• Neyveli Lignite Corp. pays Rs. 219.75 cr dividend
• RITES bag CDC Award
• UBI Chairman's house, office raided
• India's forex reserves rise to $119.28 bn
• IA, Jet Airways increases airfare by 10%
• PNB lends Rs. 5302 cr under SACP
• IRCON pays Rs. 18.75 cr dividend to Govt
• IRFC declares dividend of Rs. 110 cr
• India-Korea Trade trade touches US $ 3.22 billion
• BHEL bags Rs. 115 cr order from PDO, Oman
• Bank of America to cut 4,500 jobs
• DSP signs coal conversion agreement with DPL
• Railways to introduce electronic clearing system
• First Indian elected vice-chair at UN/CEFACT
• CCI presents dividend cheque Rs. 5 cr to Govt.
• Union Bank of India plans acquisitions
• MTNL to roll out four lakh new GSM lines soon
• IOC pays dividend of Rs. 2453 cr for FY 03'04
• NFL declares dividend of Rs. 25.51 cr. for 2003-04
• 24 SAIL employees to receive Shram awards

September 2004

• SAIL enters into strategic alliance with BHP Billiton
• A.K. Puri appointed CMD, BHEL
• PNB revises interest rates on FCNR(B) Deposits 
• NTPC set Rs 52-62/share band for IPO
• BHEL contributes Rs. 2.25 cr to PM Relief Fund
• MTNL slashes STD rates from Delhi to Mumbai
• A K Puri, Dir (Power) BHEL gets Eminent Eng Award
• PNB starts Corporate Internet Banking
• Govt cuts base price of edible oils
• BPCL pays final dividend of Rs. 228.39 to Govt.
• India's Forex reserves rise to $117.58 bn
• RBI announces 0.5% hike in banks' CRR to 5%
• Dena Bank plans Rs 800 mn IPO
• Railways launch 'Reservation on Mobile'
• GAIL-GSPC discovers crude oil in Cambay-Gujarat
• IOC signs pact with Nepal Oil for laying pipeline
• PNB Starts its operations in China
• BHEL bags 27 cr contract in UPCL
• RITES gets SCOPE Award in Excellence

August 2004

• ONGC takes stake in Ivory Coast block
• Dr. K. C. Chakrabarty joins as ED, PNB
• PNB gets national award for SSI lending
• SBI increases interest rates by 0.25 to 0.50 %
• BSNL and Hutch reduces tariff rates
• FM exempted income upto Rs 1,11,250 from tax
• Kudremukh gives 43.97 cr dividend to Govt
• NTPC files for IPO, likely to raise $1 bn
• TCS Share open at Rs. 1050
• 10 NTPC Power Stations bags National Award
• SAIL reduces prices by Rs. 1000 per tonne
• SAIL Chairman conferred IOD fellowship
• A New Logo, A Renewed ONGC
• IOC commissions Koyali Refinery in Gujarat
• SBI may not hike home loan rates

• RITES earns Rs. 267 cr. net profit for FY03-04

• Reliance slashes call charges by 60%

• SAIL R&D Unit bags National Award

• BHEL bags Rs 20 mn order from Tyco Elec., UK

• NTPC plans to double IPO size to $1 bn

• GAIL plans Rs 4500-crore pipeline

• GAIL-GSPL finds oil reserves in Dholka, Gujarat

• New Saving Scheme for Senior Citizens with 9% int

• BHEL bags first turnkey contract for 400 kV Grid

July 2004

• BPCL Q1 profits up at Rs 1473 million

• Bank of Maharashtra nets 78 cr in Q1

• SAIL Q1 profits up 336% at Rs. 1112 cr

• OBC post Rs. 181 cr profit up 27% for Q1

• HPCL Q1 profits up 57% at Rs. 247.3 cr

• ONGC Q1 net profits up by 8% at Rs 2,308.2 cr

• Copa America 2004 : Brazil’s Cup -> RESULTS

• Asia Cup 2004 Sri Lanka : Schedules & Results

• PNB Q1 net profits zoom 28.2% TO 322.67 cr

• SBI Q1 net up 17% at Rs 1,058.4 crore

• GTB to nerge with OBCl

• Bank strike on August 24

• Government allows oil companies to increase or decrease prices by 10%

• ONGC, GAIL to bear LPG, kerosene subsidy burden

• GAIL to invest Rs 4000 cr in laying pipelines

• NFL off the disinvestment list : Paswan

• BHEL bags Rs. 410 cr contract from NTPC

• Reliance, IOC, BPCL, HPCL in Fortune 500

• BHEL to export Solar Photovoltaic Cells to Italy

• BHEL to set up 120 MW hydel project in J&K

• IndianOil branded fuels sales surge in Delhi

• OVL signs pipeline contract with Govt. of Sudan

• IndianOil branded fuels sales surge in Delhi

• OVL signs pipeline contract with Govt. of Sudan

• BHEL wins Rs.1701 Crore from DVC

• Subir Raha, CMD, ONGC conferred with V. Krishnamurthy Award of Excellence

• IndianOil Bags National Technology Award

June 2004

• PNB implements credit and relief package for farmers

• ONGC Videsh Ltd all set to undertake its first Engineering & Construction Project in Sudan

• DOT Announces Reduction In Licence Fee For Infrastructure Providers

• Reliance finds gas reserves off Orissa coast, to invest Rs. 2500 cr in Oil exploration & production

• BSNL to offer Internet through Wi-Fi, Wi Max

• Govt clears ONGC's $200 mn Sudan oil pipeline

• ONGC net profits down to Rs. 8664 cr for 2003-04

• EPF rate may remain at 9.5%

• NTPC files for IPO, to offload 5.25%, to offer 432.9 mn shares with face value of Rs 10 

• State Bank of India to open branch in Oman

• BSNL to invest Rs 14,700 cr in 2004-05

• PFC to raise $100 million in ECB next week

• NHPC net profit up by 22 % at Rs. 621.38 crores

• Indian Airlines to hike fares by 10% from June 21

• First A-I Mumbai-LA flight takes off

• Govt approves IOC merger with subsidiary IBP

• TCS signs MoU with PNB for implementing PeopleSoft HCM & Payroll Solution

• TCS to offer 5.54 cr shares via IPO

• BHEL bags Rs 30 cr order from Gujarat Ambuja

• IndianOil net profit up by 15 % at Rs. 7005 cr 

• MTNL may bid for Rwanda Telecom 

• IOB targets Rs 8,000 cr growth in business in 2004-05

• Bank of India to go for 2nd IPO offer

• NTPC gets SEBI nod for 5% public issue

• Oriental Bank of Commerce to wipe off NPA

• ONGC Videsh Limited net profit up by 626% at Rs.428.53 Cr

• Govt fixes 49 per cent cap on FDI in airports` modernisation

May 2004

• GAIL may list on NYSE or Nasdaq

• Government fixes airport FDI cap at 49%

• Govt to slash interest rates on EPF by 1.5-2 %

• Govt may divest 5% in BSNL before merger with MTNL

• SAIL nets Rs. 2512 cr, wipes off losses

• BHEL bags Rs 647 cr order from MSEB

• Bank of Maharashtra net up 37 % at Rs 304 cr

• FIPB okays 73 FDI proposals worth of Rs 4,044 crore for mining 

• Central Bank, New India Assurance sign MoU for Bancassurance

• Bank of Baroda get nod from RBI for Singapore branch

• OBC to raise Rs 750 cr through bonds

• Oil firms lose Rs 3000 cr in 2 months

• No divestment of MTNL & BSNL : Maran

• BPCL net profits up by 36 % at Rs. 2462 cr

• Utility Powertech Ltd. nets Rs. 85.63 crore

• PNB starts real time Gross Settlement ( RTGS)

• GAIL net profits up by 14.6% at Rs.1878 Cr

• Dena Bank seeks Govt nod for second public issue

• NTPC Vidyut Vyapar Nigam Ltd expects to trade 3 Billion Units in 2004-05

• Petronet's Rs 1050 cr bond issue in June

• TRAI to fix sealing on tariff for bandwidth

• ICICI banks net up at Rs. 1637 cr

• Reliance becomes first pvt firm to net $1 bn profit

• GAIL net up at Rs. 1878 cr

• NTPC seeks SEBI waiver of minimum listing criteria

April 2004

• VSP Records Highest Ever Sales During 2003-04

• NALCO net up 44 percent

• LIC sanctions Rs. 6500 cr loan to NHPC

• Infosys Q4 net at Rs 337 crore

• Bank of Maharashtra jumps over 40% on debut at Rs. 33

• MoUs Signed with HPCL and OIL India for 2004-05

• Government Assigns Higher MoU Target for Gail in 2004-05

• Japanese Official Development Assistance to India 

• MOU between Konkan Railway & Ministry of Railways

• SAIL achieves all time best performance

• Bank of Maharashtra issue to be listed on April 12

• ICICI Bank fixes its share price at Rs. 280 per share

• PNB signs MoU with Intel for future Technological requirements

• NTPC IPO of Rs. 400 cr. in August

• BPCL announces VRS scheme for employees

• Rashtriya Ispat Nigam Limited (RINL) signs MoU with Govt

• MTNL cuts ISD rates by 25%

• ICICI Bank public issue oversubscribed

• BHEL net profit up by 38% at Rs. 615 crores

• Former Secretary Telecom Vinod Vaish has taken over
  as Member of the newly constituted Telecom Dispute Settlement and Appellate Tribunal

• NTPC net profit up by 33% at Rs. 4905 cr. Highlights

• Gyan Chand Daga takes over as Director (Finance) Steel Authority of India Ltd.(SAIL)

• India's forex reserves rise to record $110.317 bn

March 2004

• Reliance makes 2 new gas discoveries in Bay of Bengal

• Power Finance Corporation net profits up by 37% at Rs. 1601 cr Performance Highlights

• Maruti posts highest ever sales in 2003-04

• A. K. Puri takes over Director (Power), BHEL

• BSNL cuts long distance call rates by 25 per cent applicable from April 10

• C-DOT and BSNL sign MoU for upgradation of telephone exchanges

• DOT and TCIL enter into MoU

• RITES declares Interim Dividend

• Mou between NTPC & Ministry of Power

• MTNL slashes installation charges for new connection from Rs. 800 to Rs. 500

• IndianOil Signs MoU with Govt

• MOIL's February Ore Production Up

• BHEL commissions first Advanced Class Gas Turbine to be exported from India in Oman

• BIRD Group of Companies improve performance

• Rourkela Steel Plant (RSP) Shows growth

• BARC Develops "Moist Wound Healing"

• Govt fixes Rs. 750 per share price for ONGC, Rs. 712.50 for retail investors

• BHEL bags largest long-term contract for oilfield equipment from ONGC

• Konkan Railway gets award for Excellence in Cost Reduction

• Petronet IPO priced at Rs 15

• CMD of ONGC Subir Raha has been awarded Global CEO of the year 2004 at Mumbai

• Power Trading Corporation IPO oversubscribed by 33.5 times

• MoU Between NTPC and IIT, Mumbai

• BHEL gets 333 cr  order from Gujarat State Electricity Corporation

• ONGC price band fixed at Rs 680-750

• NTPC plans to enter in coal mining area

• S K Jain appointed Director (HR) in BHEL

• Prakash Singh is new CMD of the United Bank of India

February 2004

• IPCL share price fixed at Rs. 170 per share

• PNB revises interest rates on FCNR (B) deposits

• Bank of Maharashtra to issue 1 lakh ‘family cards’ 

• IPO's : IPCL subscribed 2.76 times, CMC 4.5 times 

• GAIL IPO : Recieves bids worth 44.11 lakh shares in first hour of Trading

• Power Trading Corporation IPO : To open on Mar 1 at Rs 14-16 per share

• LNG Petronet IPO priced at Rs.13-15 per share, to open on March 1 to March 9

• GAIL IPO : Floor Price fixed at Rs. 185 per share

• ONGC to take 26% in BPCL’s Bina refinery

• IOC raises US $ 200 million syndicated term loan

• PNB sets up an Adhoc Committee on procedures & performance audit on public services

• Konkan Railway bags Chenab and Anjikhad bridge designs in Jammu & Kashmir

• Rs 620 floor price for IBP and Rs 475 for CMC

• IPCL to invest Rs 350 cr in next 2 years

• Guidelines issued for intra-circle telecom mergers

• RBI eases loan norms for employees outside India

• India's forex reserves reaches $107.5 bn

• Indian Oil Corporation to invest 100 million dollars in Sri Lanka

• IPO of GAIL to hit market on Feb 27, ONGC on March 5

• Bank of Maharashtra IPO on February 25

• LIC launches 3 new products in UK for NRI

• IPCL IPO : Govt. fixes Rs. 170 per share as floor price

• GAIL IPO : Roadshows to start from Feb 20

• Oil India pays interim dividend of Rs. 126 crore to Govt. of India

• BSNL begins mobile services in Arunachal

• HPCL seeks equity in Petronet LNG

• India's first LNG terminal at Dahej dedicated to the nation

• BPCL & HPCL bids for pumps in Sri Lanka

• ICICI Bank to raise Rs. 3000 cr. public issue

• PM dedicates 3 power projects of 1000 mw

January 2004

• Contracts for 20 blocks under NELP-IV and 8 blocks under CBM-II signed

• PNB revises interest rates on FCNR (B) deposits

• Oil PSUs declared Interim Dividend of Rs. 2,739 crores for 2003-04

• Iran offers India equity in South Pars Gas Fields

• GAIL to explore business in UK for CNG & Pipeline

• CAIRN to produce 10000 barrels of oil from Rajasthan

• IPCL Q3 net up at Rs. 81 cr

• IFCL to merge with PNB

• SBI Q3 net up 17% at Rs. 919.44 cr

• PNB Q3 net up by 37% at Rs. 259.9 cr

• ONGC net down 33.7% at Rs. 1718.53 cr for Q3

• HPCL Q3 net up by 137% at Rs. 775.71 cr

• HSCL Q2 performance shows growth
• BHEL bags Rs 599 crore contract for 250 MW New Parli Thermal Power Station
• CWC pays rs. 4.12 crore as dividend 
• LIC provides largest financial assistance of Rs. 7000 Crore to NTPC
• Sumitra Mahajan Inaugurates Oil & Gas Conservation Fortnight 2004
• PNB pays Rs. 53.06 crore interim dividend to Govt. of India
• Subir Raha, CMD ONGC gets "SCOPE award for excellence" for the year 2002-03
• NTPC plans to issue $200 mn euro bonds
• Govt will offer 26% equity in IBP & 10% in ONGC and GAIL in 2 months, 
  Petroleum Minister Ram Naik
• New operators set to establish 500 petrol pumps by april 2004 : Ram Naik
• BPCL pays interim dividend of Rs. 119.16 cr. to Govt.
• BHEL bags order for Compressor and Drive Turbine package
• IndianOil Pays Rs. 479 Crore  Interim Dividend
• HPCL pays Rs. 103.84 crore interim dividend to the Govt of India