Banking and Finance
`10% to opt for VRS in BoB'
THE Chairman and Managing Director of Bank of Baroda (BoB), Mr P.S. Shenoy, told mediapersons that the bank was expecting at least 3,000 of its employees to opt for VRS by March 31, 2001. This was from a total of 30,000 BoB employees who were eligible fo
r VRS.
Corporate
BIFR drive to be `participant-friendly'
EVEN as uncertainty has been prevailing during the last two years about the character and scope of powers and functions of the Board for Industrial and Financial Reconstruction (BIFR), the board has adopted a `rehabilitation-friendly' or `participant-fri
endly' face. The task may not be easy, but the board has taken a step in this direction.
HPCL pays Rs 39.67 cr as final
MUMBAI: Hindustan Petroleum Corporation Ltd has paid Rs 39.67 crore as final dividend (30 per cent) to the Government, for financial year 1999-2000.
CPCL pays Rs 23.17 cr dividend to Govt
NEW DELHI: Chennai Petroleum Corporation Ltd (CPCL) on Tuesday paid a dividend of Rs 23.17 crore to the Government for 1999-2000 fiscal.
Financial Performance
Smithkline Beecham Q3 net up by 27.5%
SMITHKLINE Beecham Pharmaceuticals (India) showed a 27.5-per cent growth in net profit for the quarter ended September 30, 2000. Its profit after tax stood at Rs 719.10 lakh compared to Rs 571.40 lakh during the same period last year -- a positive growth
in profit for the second successive quarter.
Escorts JCB' turnover jumps
NEW DELHI: Escorts JCB Ltd, the manufacturer of earthmoving and construction equipment, reported a 29-per cent growth in turnover during the first nine months of the current calendar year.
Sierra Optima Q2 net rises 113%
HYDERABAD: Sierra Optima Ltd, an associate of Sierra Atlantic Inc., US, registered a total income of Rs. 9.16 crore and a net profit of Rs. 2.69 crore for the second quarter ended September 30, 2000, as against revenues of Rs. 4.04 crore and profit o
f Rs. 1.26 crore in the previous corresponding period.
Mutual Funds
Alliance MF prunes MIP dividend again
ALLIANCE Capital Mutual Fund, for the second time in three months, has cut the rate of dividend paid to investors in its monthly income plan (MIP). The largest MIP (in terms of assets under management) from the private sector has fixed the rate for Septe
mber at Rs 0.03 per unit.
Pharmaceuticals
Cadila Pharma US sales to touch Rs 50 cr
IN its maiden year of US operations, Cadila Pharmaceuticals Ltd (CPL) is poised to touch a sales figure of Rs 50 crore, which would lead to the doubling of its exports at Rs 100 crore.
Fortis Healthcare signs pact with US hospitals
FORTIS Healthcare Ltd (FHL), a company promoted by the late Dr Parvinder Singh of Ranbaxy Laboratories, has announced alliances with two leading hospital systems of the US for its Fortis Heart Institute venture.
Power
BSES pays up dues to TEC
THE Mumbai-based BSES Ltd has paid up Rs 30 crore as standby charges to the Tata Electric Company (TEC), ending the disagreement between the two companies and the State Electricity Board.
Textiles
Tirupur units to get 1,700-t extra EU quota
TIRUPUR'S knitted garment exporters would benefit from additional export quotas to the equivalent of 1,700 tonnes or 75 lakh pieces to the European Union markets, to be released under the `flexibility' quota arrangement this year.
