State Bank of India (SBI) reportedly targets a total business of Rs 10500 crore during the current fiscal.

Great Offshore announced that due to non-delivery of the jackup rig Samed Shikhar by 14 May 2009, ONGC has as per terms of the contract, invoked performance guarantee of around $3.8 million and cancelled the contract.

Oil and Natural Gas Corporation (ONGC), the company that cancelled a five-year contract of rig supply with Great Offshore, is reportedly planning to issue new tender.

Gujarat NRE Coke reportedly aims to boost production in its two Australian coking coal mines from 0.8 million tons in 2008-09 to 2 million tons this fiscal.

The promoters of Essar Shipping Ports & Logistics are reportedly considering a proposal to buy out minority shareholders and delist the company.

India Tourism Development Corporation is reportedly making a comeback in the duty-free shops business. It has bid for eight shops in as many airports across the country.

Bank of Baroda (BoB) reportedly plans to start its life insurance venture with the UK-based Legal and General Group and is likely to commence operations by the end of March next year.

Novartis received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Lansoprazole Capsule in the strength of 15 milligram.

Suffered with huge losses along with regulatory barriers in the American market, Ranbaxy Laboratories has reportedly made plan to revamp its US business.

Unitech reportedly aims to make Rs 900 crore from the sale of two hotels in Gurgaon and a commercial office complex in Saket, New Delhi, by the end of June 2009.

Piramal Life Sciences is reportedly investing Rs 200 in the next two year's period for its ambitious program to discover and develop new chemical entities (NCEs) and Novel Drug Delivery Systems (NDDSs).

HCL Technologies reportedly plans to cancel hedging contracts worth $600 million (around Rs 2,970 crore), as the rupee continues to remain at Rs 49-50 levels. These hedges, according to a report, would be taken at a rate of around Rs 41.

Net profit of Punj Lloyd declined 54.03% to Rs 59.63 crore in the quarter ended March 2009 as against Rs 129.72 crore during the previous quarter ended March 2008. Sales rose 33.26% to Rs 1977.12 crore in the quarter ended March 2009 as against Rs 1483.69 crore during the previous quarter ended March 2008.

Net profit of Dr Reddy's Laboratories declined 3.75% to Rs 156.17 crore in the quarter ended March 2009 as against Rs 162.26 crore during the previous quarter ended March 2008. Sales rose 15.11% to Rs 1144.80 crore in the quarter ended March 2009 as against Rs 994.54 crore during the previous quarter ended March 2008.

Net profit of Essar Shipping Ports & Logistics declined 55.45% to Rs 107.66 crore in the year ended March 2009 as against Rs 241.67 crore during the previous year ended March 2008. Sales rose 31.81% to Rs 1023.20 crore in the year ended March 2009 as against Rs 776.24 crore during the previous year ended March 2008.

Net profit of Repro India declined 18.52% to Rs 3.74 crore in the quarter ended March 2009 as against Rs 4.59 crore during the previous quarter ended March 2008. Sales rose 89.15% to Rs 65.18 crore in the quarter ended March 2009 as against Rs 34.46 crore during the previous quarter ended March 2008.

Net profit of Bharat Bijlee declined 54.90% to Rs 14.07 crore in the quarter ended March 2009 as against Rs 31.20 crore during the previous quarter ended March 2008. Sales declined 25.67% to Rs 148.17 crore in the quarter ended March 2009 as against Rs 199.34 crore during the previous quarter ended March 2008.