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3G: Raise funds locally now, refinance via ECB later
The government today allowed prospective 3G bidders to raise funds from domestic markets, which could later be refinanced through debts raised abroad, giving a major boost for 3G spectrum auction.

Import rules take effect on security-risk cellphones
The commerce ministry has prohibited import of mobile phone handsets (classified under ITC (HS) Code ‘8517’) without International Mobile Equipment Identity (IMEI) number or with all zeroes’ IMEI, with immediate effect from October 14, 2009. Import of ‘CDMA mobile phones’ (classified under ITC (HS) Code ‘8517’) without Electronic Serial Number (ESN)/Mobile Equipment Identifier (MEID) or with all zeroes as ESN/MEID is also prohibited with immediate effect from the same date.

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Thermax Q3 dips 22% to Rs 56 cr
Engineering equipment maker Thermax Ltd today said its net profit declined by 21.84% to Rs 56.50 crore for the third quarter ended December 31, over the same period corresponding fiscal.
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Natco Pharma, Apollo Hospitals, Sundram Fasteners & Emami Q2 result

Natco Pharma net up 13% Hyderabad-based manufacturer of integrated pharmaceutical and bulk chemicals Natco Pharma Ltd reported a net profit of Rs 13.37 crore for the second quarter ended September 30, compared with Rs 11.87 crore in the corresponding quarter last year — a growth of 12.63 per cent. Jan cement sales in high double-digit Apollo Hospitals net up 13% Apollo Hospitals Enterprise Ltd (Apollo Hospitals) has reported a net profit after tax of Rs 34.06 crore for the quarter ended September 30, against Rs 30.13 crore in the same period last year — an increase of 13 per cent. While the group’s health care business continued to report a profit (Rs 64.01 crore compared with Rs 49.98 crore a year ago), the pharmacy business continues to report a loss (Rs 3.70 crore compared with the Rs 3.50-crore loss last year). Sundram Fasteners net at Rs 19 cr Sundram Fasteners has reported a net profit after tax of Rs 18.87 crore for the quarter ended September 30, against Rs 9.17 crore in the same period last year. Total income dropped to Rs 331.44 crore from Rs 388.37 crore — a drop of around 14 per cent. Emami PAT doubles to Rs 28.66 crore Personal-care major Emami’s net profit stood at Rs 28.66 crore for the quarter ended September 30, 2009, more than doubling from Rs 13.47 crore in the corresponding quarter of the previous financial year. Emami’s net sales at Rs 211.73 crore for the quarter, too, saw a growth of 66 per cent from Rs 127.79 crore in the corresponding previous.


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