Chennai-based Amara Raja Batteries has decided to invest Rs 520 million for capacity expansion of its industrial battery division.

The company with innovative engineering, research and design has grown with partnerships and information sharing with world leaders.

Amara Raja Batteries, registered a sharp drop in net profit of Rs 149.17 million for the quarter ended in June 2008 as compared to profit of Rs 179.06 million for the same period year ago.

The Aditya Birla flagship company, “Grasim Industries” for the first quarter ended June 30, 2008, has reported a flat growth 0.49 percent rise in net profit at Rs 514 crore. In the same period last year, it had 512 crore of net profit. The total income of the company saw a rise of 6.84 percent which came to Rs 2,674 this quarter while during the same period last year it had the total income of Rs 2,593 crore.

The minority shares of the company were marginally down by one percent from Rs 120 crore to Rs 672 crore. On the other hand income increased nine percent to Rs 4,524 crore.

Country’s largest oil and gas explorer Oil and Natural Gas Corporation Limited (ONGC) plans to enter uranium mining business in alliance with public-sector Uranium Corporation of India (UCI), the only company producing nuclear power in India.

As the Indo-US nuclear deal is near finalization, the company sees this as a good time to enter into the business. It aims to tap the business opportunity from nuclear fuel shortage in Asia's third largest economy.

In an attempt to help the credit card holders, Reserve Bank has made it clear that the banks will have to pay a penalty for harassing customers over misuse of unsolicited cards.    

The banking regulator in its latest stringent guidelines has said if a customer is billed for unsolicited card, which is issued and activated without his consent, the card issuing bank shall not only reverse the charges forthwith (on misuse of unsolicited cards) but also pay a penalty without demur to the recipient amounting to twice the value of charges reversed.

Areva T&D India Ltd., the local unit of the world's biggest maker of nuclear reactors, has been awarded a contract worth about €40mn with Larsen & Toubro Ltd. - ECC Division, for the supply of a substation package for Indira Gandhi International Airport in Delhi.

This contract is one of the biggest recently to be awarded in the Indian power distribution Industry. L&T is the main contractor for the Delhi International Airport Pvt. Ltd. (DIAL).

The country's largest lead acid battery manufacturer, Exide Industries Ltd plans to invest Rs 180 crore in the current fiscal to raise capacity by 20 per cent.

Under the proposed plan, the company will invest Rs 180 crore, out of which Rs 90 crore will be invested in automotive segment and Rs 60 crore to raise capacity by 20 per cent.

The company also expects to double its supplies to the original equipment manufacturers (OEMs) are likely to reach 5 million units a year, from the present level of 2.5 million units, in 2009-10.