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HPCL net profit at Rs 31.4 crore
Helped by cash subsidy from the government, Hindustan Petroleum Corporation Ltd (HPCL), India’s third-largest refiner, managed to report a net profit of Rs 31.4 crore in the quarter ended December 2009. It posted a net loss of Rs 422 crore in the corresponding quarter last year.

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Fortis gains on Rs 250cr investment plans
The stock soared to a high of Rs 136 and finally ended at Rs 134, up 4% from its previous close. The counter clocked volumes of 1.75 million shares as compared to the two-week daily average traded volumes of 466,405 shares on the BSE. ______________________________________________________
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BMW, Mercedes for joint US transmission plant

Bayerische Motoren Werke AG and Daimler AG’s Mercedes-Benz unit, the world’s top two makers of luxury cars, are considering building a joint transmission plant in the US, expanding on their cooperation in purchasing. - Mercedes-Benz to launch long-haulage trucks in India - Mercedes-Benz launches 1st luxury hybrid model in Japan - Mercedes-Benz India expects to sell 60% C-Class model in Gujarat - Mercedes-Benz launches special edition model in India - Save the Clunkers - Toyota and BMW better analyst estimates “A transmission factory is a potential project that could be taken into consideration,” said Marc Binder, a spokesman for Mercedes-Benz Cars in Stuttgart, Germany. “There’s no timeframe for a decision,” he added, confirming Daimler Chief Executive Officer Dieter Zetsche’s comments in an interview published by Sueddeutsche Zeitung today. The two manufacturers cooperate on buying components such as air conditioning systems and window motors. Herbert Diess, BMW’s purchasing chief, said on March 18 that the number of common parts was in the “double-digit” range and that joint buying has yielded savings of as much as 15 percent. Marc Hassinger, a spokesman at BMW’s headquarters in Munich, said talks on potential cooperation projects with Mercedes were ongoing and specifics would be discussed only after decisions have been made.


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