Automobiles
Daewoo to launch upper-end model by early next year
WHILE exports will be one of the corner stones of Daewoo Motors India's marketing strategy, it will not be at the cost of the domestic market, Mr. S.G. Awasthi, Chairman of the company, said.
Corporate
Suryajyoti Spinning posts profit
HYDERABAD: Suryajyoti Spinning Mills Ltd has posted a turnover of Rs. 89.35 crores and a net profit of Rs. 1.24 crores during 1999-2000 as against a turnover of Rs. 77.45 crores and a profit of Rs. 14.69 lakhs registered during the previous year. The com
pany's EPS for the year stood at Rs. 1.16.
Shanthi Gears
COIMBATORE: Shanthi Gears has reported a net profit of Rs. 0.14 crore for fiscal 1999-2000 compared to Rs. 0.19 crore made at the end of the previous fiscal.
BIFR for panel to monitor National Instruments scheme
THE Board for Industrial and Financial Reconstruction (BIFR) has directed the constitution of a review committee to effectively monitor, on a quarterly basis, the implementation of the revival scheme for National Instruments Ltd (NIL).
BHEL gets Iraqi order
NEW DELHI: Bharat Heavy Electricals Ltd (BHEL) has recently bagged export orders worth Rs. 780 crores from Iraq, according to an official release.
Industry status sought for DPs
NEW DELHI: The President of Depository Participants Association of India (DPAI), Mr. V.D. Aggarwal, has urged the Union Government to grant industry status to depository participants (DP) in the country.
Thermax to market chemical filters
PUNE: Thermax Ltd has signed an exclusive distributorship for South Asia with Purafil Inc, headquartered in Atlanta, the US, to market dry gas scrubbers, commonly known as chemical filters. These would remove highly corrosive toxic gases such as
chlorine, hydrogen sulphide, sulphur dioxide, ammonia, nitrogen oxides, hydrocarbons and odours from indoor environment, Mr. Abhay Nalawade, Chief Executive Officer and Managing Director, Thermax Ltd, said.
MSE to start rolling settlement
CHENNAI: The Madras Stock Exchange (MSE) would commence rolling settlement from June 29. Shares of 163 companies which are under compulsory demat would be permitted for trading under this segment. The exchange has DP connectivity with NSDL and CDSL for s
ettlement of trades under rolling settlement, a MSE release said. -- Our Bureau
`Encouraging outlook for Indal'
INDIAN Aluminium Co Ltd (Indal) has seen an encouraging outlook for the current year, going by its performance during the first two months.
Jaiprakash group in talks for divesting cement division stake
IN what is expected to be another mega deal in the cement industry, the Delhi-based Jaiprakash group is in talks for selling part-equity in its cement business, with international cement majors such as Lafarge of France, Italcementi of Italy, Blue Circle
of the UK, Cemex of Mexico and another Spanish cement company.
Van Melle unit may go on stream in November
VAN Melle Confectionery India Pvt Ltd plans to start commercial production of chewy toffees in November at its Rs. 63-crore facility coming up on the outskirts of Chennai, company sources said.
Licensing hurdles hurting: BPL chief
IN spite of liberalisation, the licence-permit raj of the earlier decade still appears to put brakes on the BPL products from entering the US and European markets, said Mr. Nambiar, Chairman of BPL, here.
Today's Writing on expansion mode
THE Rs 62-crore turnover Today's Writing Products group, manufacturers of Today's brand of pens, has embarked upon a Rs. 18-crore expansion project to take the capacity to 20 lakh pens/refills a day from 12 lakh at present. The expansion is to be funded
from internal accruals, debt and private placement of equity with a FI.
Elgi Equip bonus, share split okayed
RECOMMENDATION for splitting the nominal value of the equity shares of Elgi Equipments Ltd by the board of directors was unanimously passed at the Extra-Ordinary General Meeting held here. The board has also recommended the issue of one bonus share for e
very equity share held by the shareholders on the record date yet to be fixed.
Thermax net declines to Rs 32.34 cr
PUNE: Thermax Ltd has recorded a dip in net profit for the financial year ended March 31, 2000. The company has recorded a net profit of Rs. 32.34 crores as compared to Rs. 38.31 crores recorded for the year ended March 31, 1999, Ms. Anu Aga, Chairperson
of the company, said.
Greaves posts loss
MUMBAI: Greaves Ltd has posted a net loss of Rs. 35.73 crores for the year ended March 31, 2000.
Miscellaneous
HC upholds downgrading of First Leasing debt
THE Madras High Court has dismissed a petition of the Chennai-based First Leasing Co of India Ltd seeking an interim injunction of the review of the credit rating of debt instrument of the Company by ICRA Ltd.
Stocks
CDSL bullish on prospects
WITH 35,000 investor accounts and over 70 depository participants under its wings, Central Depository Services (India) Ltd (CDSL) believes that it has lived up to the market's expectations from a multiple depository system.
