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India's RIL posts marginal quarterly profit rise

Energy giant Reliance Industries Ltd reported a marginal rise in quarterly profit Friday, with billionaire tycoon Mukesh Ambani saying his company had turned in a "satisfying" full-year performance. Reliance, which operates the world's biggest refining complex, said net profit for its fourth quarter ended March 31 rose 0.8 percent to 56.3 billion rupees ($933 million) from a year earlier. The profit was in line with analysts' forecasts.

Clone candidates clutter Indian election contests

By Nandita Bose MAVAL, India (Reuters) - Voters in a parliamentary constituency in western India could be forgiven for asking the real candidates to please stand up. The race in Maval, a constituency of 1.9 million voters in Maharashtra state, has two real contenders: One is Shrirang Barne of the Shiv Sena, an ally of the opposition Bharatiya Janata Party (BJP) that is on track to form the next government. The other is Laxman Jagtap of the Peasants and Workers Party (PWP), an ally of the ruling Congress Party.

India's TCS reports 48.2% surge in Q4 profit

India's biggest outsourcing firm Tata Consultancy Services Wednesday reported a 48.2 percent surge in quarterly net profit from a year ago, led by new European and emerging market contracts. The Mumbai-based company, known as TCS, also declared it was "upbeat" about its prospects for the coming year. TCS said net profit for the fourth financial quarter ended March 31 climbed to 53.57 billion rupees ($888 million) from 36.15 billion rupees a year earlier.

India minister blasted for asking people to vote twice

An Indian cabinet minister found himself at the centre of a vote-rigging row Monday, after he asked supporters to vote twice for his party in elections which begin next month. Speaking at a rally on Sunday, Agriculture Minister Sharad Pawar urged voters to wash off the ink which would be daubed on their fingers after casting their ballots and then go to a different constituency and vote again for his Nationalist Congress Party (NCP).

India minister asks people to vote twice

An Indian cabinet minister found himself at the centre of a vote-rigging row Monday, after he asked supporters to vote twice for his party in elections which begin next month. Speaking at a rally on Sunday, Agriculture Minister Sharad Pawar urged voters to wash off the ink which would be daubed on their fingers after they cast their ballots and then go to a different constituency and vote again for his National Congress Party.

Essar Energy says no plans to close Stanlow refinery

(Reuters) - Essar Energy Plc <ESSR.L> has no plans to close its Stanlow oil refinery in Britain, the company said on Monday, in response to a newspaper report that the troubled plant is under threat from "uneconomic conditions". Shares of the company fell as much as 4.5 percent on Monday. City A.M., a free newspaper distributed in London's financial district, reported that the future of Britain's second-largest oil refinery was under threat from an influx of refined products from the United States.

India far-right party supports Modi for PM

A far-right wing Indian party on Sunday publicly threw its support behind opposition Hindu nationalist Narendra Modi for prime minister ahead of next month's general elections. The firebrand head of the Maharashtra Navnirman Sena (MNS), Raj Thackeray, said he would back Modi, while announcing that his party would also field a handful of candidates for the elections. "We will support Narendra Modi for the prime minister's post. Modi should become the prime minister of the country," 45-year-old Thackeray told supporters in Mumbai where his party is based.

India far-right party supports Modi for PM

A far-right wing Indian party on Sunday publicly threw its support behind opposition Hindu nationalist Narendra Modi for prime minister ahead of next month's general elections. The firebrand head of the Maharashtra Navnirman Sena (MNS), Raj Thackeray, said he would back Modi, while announcing that his party would also field a handful of candidates for the elections. "We will support Narendra Modi for the prime minister's post. Modi should become the prime minister of the country," 45-year-old Thackeray told supporters in Mumbai where his party is based.

India's Essar sues Greenpeace for $80 mn for defamation

Indian energy group Essar said Tuesday it is suing Greenpeace for defamation over a giant banner unfurled on the front of the conglomerate's headquarters that read "We kill forests". Activists scaled the building in central Mumbai last week and unfurled the banner to protest at the company's mining plans in Madhya Pradesh state, which activists say will damage one of India's oldest forests. Essar did not specify a figure, but Greenpeace India said the group was seeking five billion rupees (79.6 million dollars) in damages.

India's Reliance Industries quarterly profit flat

India's largest private firm, Reliance Industries, reported nearly flat quarterly net profit Friday, hit by weak margins from refining operations and sliding gas output. But the performance still beat market expectations. The energy giant, controlled by India's wealthiest man Mukesh Ambani, said net profit for the third quarter ending December rose 0.20 percent to 55.11 billion rupees ($888 million), from 55.02 billion rupees in the same period a year earlier.
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