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Nov 9, 2012

Business News Roundup: United Breweries' Q2 net up 76% on better volumes

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United Breweries' Q2 net up 76% on better volumes: United Breweries has posted a 76%, YoY jump in its September quarter profit to Rs 34.2 crore on improved volumes in its key markets across India. While its strong beer segment witnessed 10% growth, the firm's wild mild beer segement saw 4% volume rise. (Money Control)

ONGC net down 32% on higher subsidy outgo: State-owned Oil and Natural Gas Corp (ONGC) on Friday reported a 32 per cent drop in profit, the biggest in almost four years, after jump in its fuel subsidy outgo. (Business Today)

Sept industrial production likely rose 2.8 percent: India's industrial production likely grew at a steady but slow annual pace in September, lifted by infrastructure output, in what is likely to be further evidence of a sluggish economy, a Reuters poll showed. (Reuters)

Hindustan Aeronautics joins growing list of PSUs on sell-off list: Hindustan Aeronautics Ltd (HAL) joined the growing list of companies where the government is looking to sell stake with the Cabinet Committee on Economic Affairs (CCEA) showing a green light to divest 10% in the wholly-owned defence PSU. (Economic Times)

GE Capital realigns, sells mortgage biz to Magma FinCorp: GE Capital India, a unit of General Electric Co, has exited the home-loan business — under GE Money Housing Finance — as part of a strategic global realignment. (DNA India)


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