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Usage of IPO proceeds not monitored by Sebi: Govt
The government today said market regulator Sebi does not monitor usage of proceeds of any initial public offers (IPOs) and it is not contemplating any change in the current regulatory framework.

Zandu Pharma Q1 profit doubles at Rs 11.12 cr
Zandu Pharmaceutical Works, the manufacturer of ayurvedic health care products, today reported a growth of over twofold in its net profit for the quarter ended June at Rs 11.12 crore, over the corresponding period a year ago.

News of the day

IBM wins 10-year IT services contract from co-operative bank
IBM today announced that it has signed a 10-year Information Technology (IT) services agreement with Gujarat-based Sardar Bhiladwala Pardi People’s Co-operative Bank (SBPPCB). The engagement will be in the form of a pay-as-you-go model, which will enable the bank to save up to 50 per cent in its capital expenditure on IT Infrastructure, IBM said in a statement.
Small Business

Alstom bags Rs 373 crore BHEL contract

Alstom Projects India has bagged a contract worth Rs 373 crores for the supply of boiler components to Bharat Heavy Electricals Ltd (BHEL). - "BHEL cash-surplus, govt may bring in FPO next fiscal" - Capital goods companies expect to do well in Q1 - BHEL bags order worth Rs 640 cr">BHEL bags order worth Rs 640 cr - Areva planning major investments in India - RFQ for at least one mega power project soon: Official sources - Bhel caused over 70% of delays in power projects, says Shinde In a filing with the Bombay Stock Exchange, the firm said the componets are meant for BHEL"s 2 X 800 Mw Supercritical Coal Fired Power Plant at Krishnapatnam in Andra Pradesh. Alstom was recently awarded a Rs 265 crore contract from Lanco Infratechto install a new power plant (Teesta Hydroelectric Project Stage VI) on the Teesta river in Sikkim.


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