UK-based firm''s JV begins shipment of ceramic mugs
Chennai, Nov 15 (PTI) R N Photo Coatings, a joint venture between UK-based manufacturer of promotional and business merchandise A T Promotions and Tams Fine Ceramics, today announced the first shipment of ceramic mugs to the overseas market from Sri City Special Economic Zone near here.
"We are looking at investments of Rs 30 crore over the next three to four years to manufacture ceramic mugs at our facility in Sri City SEZ. We will be shipping mostly to European countries," R N Photo Coatings Director Varun Tripuraneni said.
* * * * * * California Software Company loss at Rs 1.58 cr * IT service provider California Software Company today reported a consolidated net loss at Rs 1.58 crore for the second quarter ending September 30.
The Chennai-based company reported consolidated net loss at Rs 9.08 crore during the same period of last year.
In a filing to the BSE, California Software said the consolidated net loss of the company for the half year period ending September 30, 2012 stood at Rs 5.44 crore as against consolidated net loss of Rs 31.34 crore during the same period of last year.
* * * * * * Viijay Shanthi Q2 net slumps by 52 pc to Rs 1.80 cr * Real estate developer Vijay Shanthi Builders today announced its second quarter net profit slumped by 52 per cent to Rs 1.80 crore.
The Chennai-based company had reported Rs 3.80 crore net profit during the corresponding period last fiscal.
In a filing to the BSE, the company said its net profits for the half-year period ending September 30, 2012 slipped to Rs 6 crore from Rs 6.11 crore during the same period a year ago.
* * * * * * Shri Lakshmi Cotsyn Q1 net up 16 pc at Rs 24 cr * Textile firm Shri Lakshmi Cotsyn Ltd today said its net profit rose by 16 per cent to Rs 24.2 crore for the first quarter ended September 30.
The company had posted a net profit of Rs 20.8 crore in the corresponding quarter of previous year, Shri Lakshmi Cotsyn said in a statement.
Net sales of the company rose by 48 per cent to Rs 707.2 crore for the first quarter ended September 30, 2012, as compared to Rs 478.2 crore in the corresponding period of previous year.
* * * * * * ICRA reaffirms GGR1 rating to Infosys * Credit rating agency ICRA today reaffirmed the CGR1 rating assigned to the corporate governance Practices of software major Infosys Ltd.
The rating of CGR1 is the highest on ICRA''s Corporate Governance Rating (CGR) scale of CGR1 to CGR6, a statement said.
The Rupee slumped to a record low, while stocks and bonds were hit, after the Federal Reserve signalled a tapering of its monetary stimulus, highlighting the country's dependence on foreign capital inflows to fund its current account deficit.
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