Reliance Communications launched two night calling packs for its GSM and CDMA users, offering free local calls between 11 pm - 6 am. The Lite-Nite Pack, priced at Rs 29, offers free calling benefits to any local Reliance Mobile between 11 pm and 6 am, while Bright-Nite pack priced at Rs 59 offers free local as well as STD calling to other Reliance users, Reliance Communications said in a statement. Both night calling packs are valid for a period of 30 days and would be available to subscribers of both the pay-per-second and pay-per-minute plans.

Larsen & Toubro's plans to enter life insurance business has reportedly been opposed by its single largest shareholder, Life Insurance Corporation (LIC). LIC, the country's largest life insurer which owns 18% in L&T, feels that the company should not compete with its dominant shareholder.

The board of the diversified Triveni Engineering & Industries approved spinning off its steam turbine division into a separate entity. The details of the plan is being worked out, the company said in a press release. The division has an order book of Rs 837 crore, it added.

Triveni's net profit jumped on higher realisations from sugar sales and solid earnings from its engineering division. Net profit of Triveni Engineering and Industries rose 204.17% to Rs 72.94 crore in the quarter ended December 2009 as against Rs 23.98 crore during the previous quarter ended December 2008. Sales rose 33.33% to Rs 487.24 crore in the quarter ended December 2009 as against Rs 365.45 crore during the previous quarter ended December 2008.

Gammon India said that Andhra Pradesh state government has waived off the penalty for an accident at the Punjagutta flyover in Hyderabad in 2007.

Software services firm Mastek acquired Kognitio's data migration offering. Kognitio is into data migration for the insurance market, Mastek said in a statement. The financial terms of the deal were not disclosed.

Idea Cellular, Shree Cements, Kotak Mahindra Bank, Biocon, Indiabulls Power, Indiabulls Real Estate, Mahindra and Mahindra Financial, Jindal South West Holdings, JSW Energy, Jubilant Organosys, Piramal Healthcare, Petronet LNG, Mahindra Forgings, Wire and Wireless, United Spirits, Nagarjuna Fertilizer, Welspun India, Ipca Laboratories, Eveready Industries, ING Vysya Bank, Indraprastha Gas, Coromandel International, and Tata Sponge Iron, are among the other companies that will declare their December ended quarter results on Thursday, 21 January 2010.

Net profit of Mahindra Holidays & Resorts India rose 169.34% to Rs 23.81 crore in the quarter ended December 2009 as against Rs 8.84 crore during the previous quarter ended December 2008. Sales rose 39.92% to Rs 113.43 crore in the quarter ended December 2009 as against Rs 81.07 crore during the previous quarter ended December 2008.

Raymond reported net profit of Rs 42.57 crore in the quarter ended December 2009 as against net loss of Rs 15.20 crore during the previous quarter ended December 2008. Sales rose 5.04% to Rs 372.33 crore in the quarter ended December 2009 as against Rs 354.45 crore during the previous quarter ended December 2008.

JK Tyre & Industries reported net profit of Rs 36.46 crore in the quarter ended December 2009 as against net loss of Rs 27.38 crore during the previous quarter ended December 2008. Sales rose 2.42% to Rs 798.70 crore in the quarter ended December 2009 as against Rs 779.82 crore during the previous quarter ended December 2008.

Net profit of India Infoline rose 150.26% to Rs 52.13 crore in the quarter ended December 2009 as against Rs 20.83 crore during the previous quarter ended December 2008. Sales rose 87.78% to Rs 210.52 crore in the quarter ended December 2009 as against Rs 112.11 crore during the previous quarter ended December 2008.

Television Eighteen India reported net loss of Rs 12.66 crore in the quarter ended December 2009 as against net profit of Rs 9.50 crore during the previous quarter ended December 2008. Sales rose 9.26% to Rs 69.41 crore in the quarter ended December 2009 as against Rs 63.53 crore during the previous quarter ended December 2008.

Net profit of Nitin Fire Protection Industries declined 4.50% to Rs 5.30 crore in the quarter ended December 2009 as against Rs 5.55 crore during the previous quarter ended December 2008. Sales rose 311.69% to Rs 38.74 crore in the quarter ended December 2009 as against Rs 9.41 crore during the previous quarter ended December 2008.

Net profit of ICRA rose 49.61% to Rs 11.58 crore in the quarter ended December 2009 as against Rs 7.74 crore during the previous quarter ended December 2008. Sales rose 28.14% to Rs 27.00 crore in the quarter ended December 2009 as against Rs 21.07 crore during the previous quarter ended December 2008.

Spice Communications reported net loss of Rs 67.27 crore in the quarter ended December 2009 as against net loss of Rs 740.55 crore during the previous quarter ended December 2008. Sales rose 9.41% to Rs 358.89 crore in the quarter ended December 2009 as against Rs 328.02 crore during the previous quarter ended December 2008.

Net profit of Bayer CropScience rose 222.81% to Rs 21.37 crore in the quarter ended December 2009 as against Rs 6.62 crore during the previous quarter ended December 2008. Sales rose 26.67% to Rs 359.52 crore in the quarter ended December 2009 as against Rs 283.82 crore during the previous quarter ended December 2008.

Hindoostan Spinning and Weaving Mills reported net profit of Rs 2.38 crore in the quarter ended December 2009 as against net loss of Rs 0.30 crore during the previous quarter ended December 2008. Sales rose 26.73% to Rs 17.97 crore in the quarter ended December 2009 as against Rs 14.18 crore during the previous quarter ended December 2008.

Net profit of Panasonic Home Appliances India Company rose 36.17% to Rs 0.64 crore in the quarter ended December 2009 as against Rs 0.47 crore during the previous quarter ended December 2008. Sales rose 36.68% to Rs 44.23 crore in the quarter ended December 2009 as against Rs 32.36 crore during the previous quarter ended December 2008.