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BSNL in talks with new telecom players for infra sharing
State-run Bharat Sanchar Nigam (BSNL) today said it is in talks with new telecom operators, including Unitech, for sharing its infrastructure with them and a separate division will be created within the firm to oversee its infrastructure sharing business.

Kingfisher to raise up to Rs 450 crore
Kingfisher Airlines, owned by billionaire Vijay Mallya, has said it intends to raise up to Rs 450 crore through various instruments, including Global Depository Receipts.

News of the day

StatsGuru-02-November-09
Thanks to a sharp turnaround IN THE fortunes of PSU oil marketing companies due to lower oil subsidies, savings in overall costs of production and interest earnings on the cash piles it is sitting on, India Inc’s profits rose over 63 per cent in the September quarter. This is while topline sales fell 6.3 per cent. Once you net out sectors like oil and refining or steel where prices have fallen hugely over the year, the sales growth is a more respectable 8.3% — net profit margins also rise, from 8.9% to 11%. Sales and profits, however, tend to be concentrated and the top 10 firms account for over 40 per cent of sales/profits of our sample of 1,068 firms — remove these top 10 firms, and net profit margins for the sample fall around 30 per cent. Tax provisions are up 23 per cent due to the Minimum Alternate Tax. Most of the top companies — in terms of sales/profits — have seen a relatively poor quarter. Costs of raw materials to sales are down 80 bps on a year-on-year basis but are up 540 bps on a sequential quarter basis, suggesting the extra boost to profits from lower commodity prices in the quarter will reduce in the months ahead. Should that happen, though, it will boost the topline and bottomlines of commodity firms.
International Business

World Bank- assisted project yet to take off

The World Bank assisted Targeted Rural Initiative for Poverty Termination and Infrastructure (TRIPTI) project being implemented by the state Panchayatiraj department is yet to make headway. - Posco to split mining, steel projects - Centre to release Rs 400 crore CAMPA fund - NIFT in 3 months - Minimum wages for domestic help on anvil - Naveen demands for NID - Naveen urges Centre for CAMPA funds The $ 82.4 million project was launched by chief minister Naveen Patnaik on 10 February 2009 and recruitment and selection for posts at various level (state, district, block, cluster) has been completed. But seven months after the programme is yet to take off in real earnest and is expected to gain momentum only towards the end of this year. Admitting the slow pace of the programme, the state Panchayatiraj minister, Prafulla Samal attributed the delay to the non-release of the funds by the World Bank. “We are yet to receive the loan from the World Bank for the project. The state government has spent Rs 1 crore mostly on office accommodation and staff training”, Samal told the media on the sidelines of workshop organised by the Panchayatiraj department. He said, Orissa will follow the model adopted by the neighbouring Andhra Pradesh government as it has been highly successful. T Vijay Kumar, chief executive officer (CEO), Society of Elimination of Rural Poverty (SERP), Andhra Pradesh was invited to share his experience in implementation of Andhra Pradesh Rural Livelihood project. The project is currently being implemented in 10 coastal district of the state. These districts are Angul, Balasore, Bhadrakh, Cuttack, Jagatsinghpur, Jajpur, Kendrapara, Khurda, Nayagarh and Puri. Thirty eight poverty stricken blocks, including 1020 Gram Panchayats (Gps) and 8369 villages, are covered under the programme. It aims to enhance the socio-economic status of the poor especially women and disadvantaged groups. Sources said, the project seeks to target poorest of the poor through social inclusion fund. It provides for flexible credit linkage plan with provision for consumption loan and risk mitigation. During the current fiscal, social assessment process for the poorest of the poor, inclusion of left-out poor in the self help groups (SHGs), gradation and strengthening of the SHGs and federations through various initiatives, skill upgradation programmes for rural youth are proposed to be taken up.


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