CANARA BANK 3rd QUARTER RESULTS-NET PROFIT CROSSED Rs.1000 CRORES.

CANARA BANK posted impressive results for the 3rd Quarter ending 31.12.2009.

Operating profit rose to Rs.1470 crores.
Aggregate business reached Rs.3,56,310 crores.
Total Deposits reached Rs.2,08,899 crores up by 29%
Total advances reached Rs.1,47,411 crores up by 14.3%
credit deposit ratio is at 70.57%.
Operating expenses contained at December,2008 level.
Net interest Income reached rs.1478 crores up by 18.8%.
Capital adequacy ratio is at 14.44% well above the stipulated norm of 9%. Tier capital at 9.20%.
Branch network is at 3005 branches.
Net NPA is at 1.34% against 1.09% on 31.03.2009.
NPA coverage ratio is at 74.04% against the mandated 70%.
Cost of deposits 6.25% and yield on advances is at 10.01%.

500TH ANNIVERSARY OF CORONATION OF SRI KRISHNADEVARAYA.

The grand extravaganza put forth by the government of Karnataka at Hampi is worth applauding. But there is a feeling that the locals are neglected as they are not involved in the celebrations.

We understand that the government has spent Rs.5 crores only on the main stage i.e Sri krishnadevaraya vedike.We met some of the tourists mostly from abroad. They are enthusiastic and awe struck by seeing the monuments and they expressed their unhappiness about the infrastructure as they are fleeced at every stage.The foreign tourists and domestic tourists coming from outside karnataka were at sea as they were not able to understand the programme as it was printed only in kannada.It would have been better if the government had printed the programes in English also for the benefit of foreign tourists and tourists coming form all over the country.

Hampi is our national heritage and we have to preserve this at any cost. The glorious Vijayanagar empire reminds us how the King krishnadevaraya treated his subjects and how the people lived happily.

Photos: Courtesy from Internet.

VIJAYA BANK 3rd QUARTER RESULTS

VIJAYA BANK'S THIRD QUARTER RESULTS.

Vijaya Bank announced its third quarter results ending 31.12.2009. Mr.Albert Tauro,Chairman &Managing Director of the bank announced the results.
Total Business of the bank: Rs.98272 crores.
Total deposits of the bank : Rs.58928 crores.
Gross advances of the bank:Rs.39344 crores.
Capital Adequacy : 13.34% (Basel-II)
Net profit for 3rd quarter : Rs.124.57 crores for 9 months: Rs.376.37 crores.
NPA (Gross) : 2.53% against 1.97% as 31.03.2009
NPA (NET) :1.30% against 0.82% as on 31.03.2009
NPA Coverage :65% against mandated 70%.
Public share Holding : 46.13%
Return on assets(annualised) : 0.77% against 0.59% as on 31.03.2009
Cost of deposits have come down from 7.49% to 6.41%.
Net work of branches:1149 branches,ATM's:376,under 100%CBS set up.
GUIDANCE FOR MARCH 2010.
* 18% growth in aggregate Business.
* Net Interest Income growth of 30% or more.
* Improved margins-NIM of 3%.
* Launching of On Line Trading portal and phone banking services.
* Net NPA to be contained within 1%.

Adressing the Media.Mr.Albert Tauro,CMD of the bank said," our numbers need to be seen in the light of subdued earnings from treasury during the third quarter in the face of hardened benchmark yields. Significantly our core earnings have made good the moderated treasury earnings as evident from a strong growth in our net Interest income".

BIHAR TUBES LIMITED



BIHAR TUBES Ltd., was incorporated in 1986 and is a leading manufacturer and exporter of steel pipes & Tubes,hot dipped & pregalvanised steel tubes,fence tubes,structural steel pipes.
The company is also one of the leading suppliers of hollow section steel tubes to industries like urban infrastructure namely airports,metro,crash barriers,offices and entertainment complexes.

The company inaugurated their new facility in Hosur in tamilnadu and was inaugurated by Mr.S.C.Kalia,Executive Director of Union Bank of India, the company's sole banker.This facility is being built at a cost of Rs.100 crores with capacity of 2,00,000 tpa and will meet the growing demand for steel tubes in the southern market.

Bihar tubes has three plants in the country with an aggregate capacity of 2,00,000 tpa spread over three plants,two near delhi and one near Begaluru.The company has now total manufacturing capacity of 4,00,000 tpa upto a size of 12 inches .The new facility at Hosur has been built with latest machinery from Japan.

Mr.Sanjay Gupta,Managing Director of the company said that,"they are working on developing several products catering to the newer applications in airports,metro network and green houses".

Bihar tubes Ltd., is a listed company ,in BSE. The equity capital of the company is Rs.20.29 crores. The financial figures as on 31.03.2009 is as follows:
(Rs.in crores)
Net sales: Rs.519.36,Net profit:2.54,Reserves: 145.73
The EPS is Rs.4.06,the Book value Rs.83\- The company has declared an interim dividend of 10% by the Board of Directors and the date fixed as record date is:20.01.2010.

For the nine month period ending December,2009, the company has reported net sales of Rs.419.63 crores and net profit of Rs.26.5 crore.The media briefing was done by Mr.Aniq Husain,Director of the company

IS INDIA SECURE ?

It is reported in Certain section of the Media that the Indian Navy
has sent Confidential note to Ministry Of Defence that there is a
possibility of China entering the Indian ocean and the capabilities
of Indian Navy is critically low. If action is not taken now,it is said
that, by 2015,India and Pakistan will have same number of submarines.
Sometime back it is reported that the Indian Army also has said
in a document sent to Ministry Of Defence that our defence
purchases are slow.

Pandit Jawaharlal Nehru once said,"India's future lies in the
Ocean".Hence, Is the government of India taking note of China's
plans?.Recently we read reports that China is grabbing our
territory inch by inch and now there is a report that Chinese
are hacking our system and entered the government's
critical websites.

It is high time that the government of India takes calculated steps
and also inform the citizens about the steps taken to secure the
country.It is not enough if the government's spokesperson says
that" we are seized of the matter". One wonders whether
government is seized of the matter or ceased of the matter.

BANGALORE BIO IS NOW BANGALORE INDIA BIO







Department of Information Technology,Bio Technology and science and Technology,Govt.Of karnataka,Vision group on Bio Technology,knowledge partner ABLE and MM active Sci-Tech communications announced the 10th edition of Bangalore India Bio scheduled from June2-4,2010,at Hotel Lalit Ashok,Bangalore.

Bangalore India Bio will consist of an International Exhibition,Multi track conference,Bio Parnering,CEO conclave,Bio IP Zone Poster Session and Bio Excellence Awards functions.

The Multi track conference will address focus areas on Bio partnering India,Bio Collaborations with India,Bio pharmaceuticals,optimising Bio manufacturing and harmonisation with Global Regulations. Vision 2025 leadership series will bring the captains of the Biotech industry from India and Overseas,creating a roadmap for India to succeed in global market. Agribiotech day is reintroduced with focus on Biotechnology for food security,Green Bio Technology and Bioenergy\Fuels.

Addressing the media,Ms.Kiran Mazumdar Shaw,chairperson of the Vision group mentioned that the next milestone for the Bio Tech Industry will be USD 10 billion as the industry is nearing USD5 Billion.

The Country Partner will be Chile and more than 18 countries will be actively participating.Mr.Ashok Kumar Manoli,Principal Secretary to Government of karnataka,department of IT,BT ,Dr.Padmanabhan,Prof.Sarat Chandra and Dr.Narayanan also participated.

CAPT.GOPINATH'S BOOK ' SIMPLY FLY' LAUNCHED'.
This book describe the journey of Capt.Gopinath from humble childhood to following his dream of providing affordable air travel to those who have not gone even inside of an airplane leave alone travelling.

He has set the benchmark for cheaper air travel and also quick turnaround for aircrafts so that the aircrafts are always in the air to earn.

Book: SIMPLY FLY- A DECCAN ODYSSEY.
399 pages
Price: Rs.499\-
Publishers: Harper Collins.

BANGALORE TO HOST INDIA'S FIRST INTERNATIONAL FORMING
EXHIBITION ON MANUFACTURING TECHNOLOGIES.

Indian Machine Tool Manufacturer's Association (IMTMA) brings for
the first time to India- IMTEX FORMING 2010 and Tooltech 2010
scheduled from 21-26 January,2010 at Bangalore International
Exhibition Centre (BIEC) on Tumkur Road.

Mr.C.P.Rangachar, past president of IMTMA said ,"IMTMA
FORMING is going to be the first forming show exclusively
showcasing latest Forming Technologies not only for metals
but also for plastics and other engineering materials like
Composites and ceramics which find wide applications in
engineering products from all the world's best brands.

Coinciding with the exhibition IMTMA will also be organising one
day International Seminar on Forming technologies focusing on
metal forms and future forms.The International Seminar is
specially designed to address latest trends,developments and
research forming technology and showcase new materials,new technologies and processes.

SUNIL MANTRI GROUP ANNOUNCES EXPANSION IN BANGALORE.

Sunil Mantri Realty Limited,the flagship company of the Sunil Mantri group has announced the launch of MANTRI PREMERO in close proximity to major IT companies,the Electronic City and ITPB.

Mantri premero is an integrated large scale residential township and is spread over 3.25 acres and has a development potential of over 5 lakh Sq.ft.Additionally,the 500 partment complex would contain a swimming pool with toddler's pool,children's play area,club house with indoor games & Basket ball court are to name a few.

Mr.Sunil Mantri said," now, with Mantri Premero,Bangalore will have exclusive lifestyle homes with blend of affordable amenities that integrate nature with everyday dwelling".

BOOK LAUNCH

THE BOOK ' JOURNEY HOME UNVEILED'

This book JOURNEY HOME chronicles the metamorphosis of an Adventurous young American teenager who wants to seek the ultimate truth into a saintly Global spiritual teacher. Radhanath Swami ,the American teenager who left home nearly forty years back,narrates his experience and his adventurous journey.

This book gives endearing glimpses into the kaleidosope of Indian Spirituality as the author journeys from one master to another till he ultimately finds his home in the forest of grace in Vrindavan.

The Internationally renowned Yoga Guru BKS Iyengar describes the book-' A Stunning story worth reading'.

The english version is priced at Rs.395\- and the Kannada version is pricesd at Rs.195\-. and is available in all leading book stores in the country.The Kannada version of the book is distributed by Sahitya Prakashana. The proceeds of the book sale will go towards charity-eye camps,feeding needy children and hospital services to the old.

Mr.B.Srinivas,Regional Director Reserve Bank of India, Bangalore handing over the Vijaya Vikas smart card to one of the beneficiaries.

Mr.V.Mohandas Shetty,General Manager and Mr.Uday Kumar Regional Manager were also present on the occassion.

NEW BOOKS

NEW BOOKS FROM PENGUIN BOOKS


The Bird with Golden Wings-Stories of Wit and Magic BY Sudha Murthy.

In Search Of Sita-Revisiting Mythology Edited by Malashri Lal & Namita Gokhale.