"Handshake across the Himalayas"
India, China to study new ways to ease border tensions
India and China will study new ways to ease tensions along their ill-defined border, Chinese Premier Li Keqiang said on Monday in his first foreign trip since taking office, which comes just weeks after a military stand-off between the Asian giants in the Himalayas. Full Article | Slideshow
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SAIL Q3 net slips 23 percent, misses estimates
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A labourer works in a ferrochrome factory at Bharibramna, 20 km (12 miles) west of Jammu, July 15, 2008.
Credit: Reuters/Amit Gupta/Files
MUMBAI |
MUMBAI (Reuters) - State-owned Steel Authority of India(SAIL.NS) reported a 23 percent drop in quarterly profit, weighed by higher input and wage costs and sluggish sales.
SAIL, India's largest domestic steel producer, said December quarter net profit fell to 4.84 billion rupees from 6.3 billion a year earlier. Net sales fell marginally to 104.95 billion rupees.
Analysts on average had forecast a net profit of 5.7 billion rupees, according to Thomson Reuters Starmine data.
At 2.20 p.m. (0850 GMT), SAIL shares were trading 0.5 percent lower in a firm Mumbai market.
(Reporting by Prashant Mehra; Editing by Anand Basu)
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