Briefly Business

State-run steel major Rashtriya Ispat Nigam Limited RINL has inked a MoU with the Indian Railways for setting up an axle plant with an estimated cost of Rs 278 crore at New Jalpaiguri in West Bengal.

RINL,Railways in pact for modern axle plant

NEW DELHI: State-run steel major Rashtriya Ispat Nigam Limited RINL has inked a MoU with the Indian Railways for setting up an axle plant with an estimated cost of Rs 278 crore at New Jalpaiguri in West Bengal. To be christened as Uttarbanga RINL RAIL Karkahana Limited the plant would produce rail axles for wagons. The project is likely to be 100 per cent subsidiary company of RINL or a JV company,RINL CMD P K Bishnoi said. MECON,a PSU of the steel ministry has been appointed as the consultant for the project.

Coke,ISB sign MoU to set up retail academy

Mumbai: To bring more professionalism in the sunrise retail sector,global beverage retailer and manufacturer Coca-Cola has inked a memorandum of understanding with the Indian School of Business ISB to establish a retail academy at ISBs Hyderabad campus. The academy will impart specialised programme to train mid-level professionals in retail management in India even as the sector is expanding at a rapid pace. This initiative lays the foundation of a well-rounded retail management training program thereby contributing to quality of future retail managers. This will be an important driving force for the sector and the Indian economy and we are proud to partner with a premier institute like ISB on this important initiative, Coca-Colas group president Eurasia and Africa Ahmet Bozer,said.

Crisil launches B-school grading

Mumbai: Rating agencies have started rating B-schools. Crisil has launched grading of management programmes of business schools to help students choose educational institutions. Crisil believes that greater transparency and availability of benchmarks in the education sector are key pillars in the agenda of human capital development in India, the ratings firms CEO Roopa Kudva said here. Rating firm CARE said its launching the B-school rating this week. Our rating system will be ready within a few days, said a CARE official.

Jindal Poly Q3 net up 534 pc to Rs 221 cr

NEW DELHI: Packaging material-maker Jindal Poly Films on Monday reported a whopping 534 per cent jump in net profit to Rs 221 crore for the third quarter of FY11 on the back of higher sales and prices of BoPET products. The company had reported a net profit of just Rs 34.85 crore for the same period last fiscal,it said in a statement.

Tara Jewels gets Sebi nod for Rs 200 cr IPO

Mumbai: Sebi has given its approval to studded jewellery exporter Tara Jewels to launch an initial public offer IPO for raising up to Rs 200 crore. According to Sebi data,the approval was given to the company to tap the capital market on January 4. The company had filed its draft red herring prospectus with the Securities and Exchange Board of India Sebi for IPO in September,for which Enam Securities is the sole book running lead manager.