Wednesday, 8 March 2017

Business News Buzz

(SAIL) has once again become true force in transforming the nation by supplying steel to ISRO for the launch of a record 104 satellites in a single rocket on February 15. In this scientific feat SAIL's Salem Steel Plant (SSP) has played an important part by way of providing high quality stainless steel for the fuel and oxidizer tanks used in the launch vehicle.

SAIL SSP has supplied steel for the iconic Chandrayan and Mangalyan missions too. With this feat of ISRO, India now becomes the first country to script history after launching a record number of satellites in a single rocket. ISRO's workhorse rocket PSLV created the record by launching 104 satellites in a single mission from the state-of-the-art space centre at Sriharikota, Andhra Pradesh.

PFC Q3 Net Profit up 23%

POWER FINANCE CORPORATION LTD. (PFC) showed consistency with higher volume of operations. PFC's 'Net Profit' increased by a whopping 23% to Rs.1,950 crore from Rs.1582 crore, during the quarter ended 31st December, 2016. While the Sanctions increased by 64% to Rs.32,027 crore, Disbursements during this period (Q3 FY 17 vs. Q3 FY 16) increased by 13% to Rs.12,150 crore from Rs.10,755 crore.Earnings, per share (EPS) increased by 23% to Rs.29.54 from Rs.23.97.

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