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Chidambaram invites KCR to Delhi for Telangana talks
Home Minister P Chidambaram today said he has invited TRS chief K Chandrasekhar Rao here to discuss the next step for formation of a separate Telangana state.

NComputing to double deployments in India this year
US-based provider of low-cost shared computing technology NComputing Inc is aiming at doubling its deployments in India to 400,000 by the end of the calendar 2009.

News of the day

IT parks again on Madhya Pradesh government agenda
After frustrating traditional bid attempts for its SEZ-categorised IT parks in Indore, Bhopal, Gwalior and Jabalpur, the Madhya Pradesh government is likely to re-bid for the parks through Swiss Challenge System, under which the government can also take offers from private parties, unsolicited. It is also likely to change the model of sale of IT parks so that the developers can attract private partners. Crystal IT park in Indore, a complete infrastructure of eight-storied building, has no taker for years, and the Bhopal IT park is reportedly going the same way before it can see the light of day. Few months back Zoom Developers pulled out of the Crystal IT park project after successfully bidding for it.
Corporate

United Breweries Q1 net up 57% YoY

United Breweries (UBL), India"s largest brewery controlled by Indian billionaire Vijay Mallya, has posted a strong 57 per cent increase in net profit to Rs 35.5 crore for the first quarter of current fiscal as against the corresponding period of last fiscal. Net sales at Rs 556.4 crore was up 17 per cent, powered by a 25 per cent growth in strong beer. - United Breweries June qtr net profit up 57% at Rs 35 cr - Kingfisher may have Rs 500-cr equity issue - Kingfisher has the most cases of drunk pilots - FIPB to mull United Breweries" proposal on July 24 - Kingfisher Airlines to raise up to Rs 500 cr through equity - Kingfisher Airlines owes Rs 950 cr to PSU oil firms According to a statement from UBL, its market share grew by 3 per cent and overall national share excluding Andhra Pradesh stood at 51 per cent. In Andhra Pradesh, UBL along with SAB Miller restrained from supplying the market as the matter on price increase is currently pending decision from the AP High Court as the AP government has not been allowing price increases. Operating profits grew 30 per cent on the back of selective price increases and aggressive cost control. The company has plans to expand capacities in all key markets and the new green field in AP will be ready in time for the coming summer season. The acquisition of land for the green field in Karnataka is complete. The company is on track to increase its brewing capacity by 20 per cent to 71.50 lakh hecto litres per annum in the next two years UBL is putting up a greenfield unit with 60 lakh cases per annum initial capacity at Andhra Pradesh, which would be later expanded to 120 lakh cases per annum. Another similar unit would be set up in Karnataka with 30 lakh cases per annum initial capacity that would be hiked to 120 lakh cases. The company is also in the midst of hammering out a shareholders agreement with global brewing major Heieneken to be an active 37.5 per cent stake holder in UBL.


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