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REpower's H1 net profit rises 21.5%
REpower, the German subsidiary of Suzlon Energy, has posted a 21.5 per cent increase in net profit at ¤17.5 million (Rs 121.9 crore) for the first half of 2009-10, from ¤14.4 million (Rs 100.3 crore) in the previous year, thanks to its healthy order book position.

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Experts stress on easing norms for port development
With the projected traffic of the port sector in the country pegged at 1570 million tonne per annum (mtpa) by 2011-12, the government will have to remove various impediments to achieve overall growth of the ports.

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StatsGuru-02-November-09
Thanks to a sharp turnaround IN THE fortunes of PSU oil marketing companies due to lower oil subsidies, savings in overall costs of production and interest earnings on the cash piles it is sitting on, India Inc’s profits rose over 63 per cent in the September quarter. This is while topline sales fell 6.3 per cent. Once you net out sectors like oil and refining or steel where prices have fallen hugely over the year, the sales growth is a more respectable 8.3% — net profit margins also rise, from 8.9% to 11%. Sales and profits, however, tend to be concentrated and the top 10 firms account for over 40 per cent of sales/profits of our sample of 1,068 firms — remove these top 10 firms, and net profit margins for the sample fall around 30 per cent. Tax provisions are up 23 per cent due to the Minimum Alternate Tax. Most of the top companies — in terms of sales/profits — have seen a relatively poor quarter. Costs of raw materials to sales are down 80 bps on a year-on-year basis but are up 540 bps on a sequential quarter basis, suggesting the extra boost to profits from lower commodity prices in the quarter will reduce in the months ahead. Should that happen, though, it will boost the topline and bottomlines of commodity firms.
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Saffronart online art auction begins on June 10

"Saffronart", a leading art auction house in the city will host its annual summer online-art-auction of "Modern and Contemporary Indian Art" comprising works of 57 noted artists on June 10 and 11. The auction will take place at www.Saffronart.Com. Another significant modern work is Akbar Padamsee"s untitled canvas from his "Metascape" series. Through his rugged, sweeping landscapes, meticulously faceted with a palette knife, Padamsee manages to simultaneously freeze the passage of time and communicate an impression of the interminable. These unyielding vistas are marked by other oppositions as well. They are quiet, yet commanding; engaging, yet distant. The artist skillfully uses scale, texture and a dramatic primary palette to convey the overwhelming presence and power of nature in these works. Also included in the sale is an untitled 2006 canvas by Subodh Gupta, where the artist juxtaposes the polished with the tarnished, the new with the old, bringing into focus the dualistic quality of stainless steel, and, by extension, the dualities of life in India following the country"s dramatic economic liberalisation in the 1990s. Pushing the viewer to question value, and the unique ways in which it is translated from traditional to contemporary contexts, this scene foregrounds the importance of outliers and departures from the flattening norms of globalisation and the immense significance of the local within the ascendant global matrix. Also featuring amongst the contemporary works is Hema Upadhyay landmark mixed-media work, "Bleeding Hearts". Combining performance with painting, the personal with the political, Upadhyay"s works raise issues of loss, disenchantment and dislocation in modern urban life and, more generally, questions of security and survival in todays violent world. The artist"s "Bleeding Hearts" series of works is part of her response to violence, both political and domestic, and its aftermath. In these large works on paper, the artist questions the value of flippant apologies, and whether the deep hurt and wounds caused by such violence can be erased, particularly by decorative or showy flourishes. The total lower and higher estimates for this auction are Rs 11 crore ($2.3 million) and Rs. 13.9 crore ($3 million) respectively. The sale will also be accompanied by a illustrated print catalogue, also available online at www.Saffronart.Com.


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