Automobiles
HM's upper-end family car likely by 2002
HINDUSTAN Motors (HM) is planning to launch an upper-end family car from the Mitsubishi stable. The company is said to be in talks with its technical collaborator and licensor - Mitsubishi Motor Corporation of Japan - for introducing the premium segment
car by 2002.
Consumer Electronics
CETMA seeks tax sops to ride out slowdown
MAJOR players of the consumer electronics industry have sought tax relief to offset the industry's lacklustre performance.
Corporate
Textool workers to go on fast from Jan 22
WORKERS of the troubled Textool Company Ltd (TCL) have alleged that the management is trying to downsize the workforce at its main textile machinery unit through ``unlawful'' means.
MBT development centre coming up in Bangalore
THE Pune-based Mahindra British Telecom Ltd (MBT), a joint venture between Mahindra & Mahindra and British Telecom Plc, is setting up a development centre in Bangalore. The total investment on the centre would be around Rs 8.5 crore, Mr Kiran Deshpande,
Managing Director and Chief Executive Officer, said here today.
KEC unit gets Ohsas 18001 certificate
KOLKATA: KEC International, an RPG company, active all over the world in extra high voltage overhead power transmission line projects, has been awarded Ohsas 18001 certification for its manufacturing unit at Butibori in Nagpur.
Sale of unit to help SPIC slash interest burden
THE cash inflow of nearly Rs 180 crores from the sale of the heavy chemicals division and its equity in a joint venture (SPIC PHI Seeds Ltd) will help Southern Petrochemical Industries Corporation (SPIC) reduce its interest burden.
Invensys buys Crompton stake in CG Powerware
POWERWARE International Inc., part of $ 2.3-billion Invensys Power Systems, has increased its equity in the Indian company, CG Powerware, to 100 per cent from 51 per cent by buying out the 49 per cent stake of Crompton Greaves in the venture.
Financial Performance
Astra-IDL Q3 net jumps
BANGALORE: Astra-IDL has posted a net profit of Rs 383.99 lakh for the quarter ended December 31, 2000, notching up a 59.65-per cent gain over the same period in 1999.
Bharat Hotels
NEW DELHI: Bharat Hotels Ltd has reported a net profit of Rs 6.5 crore during the third quarter (October-December) of the current fiscal, an increase of about 16 per cent to the net profit of Rs 5.6 crore reported in the same period during the previous y
ear.
Bhagyanagar Metals Q3 net at Rs 4.36 cr
HYDERABAD: Bhagyanagar Metals Ltd, the flagship company of the Hyderabad-based Surana Group, has registered a turnover of Rs 50.96 crore and net profit of Rs 4.36 crore for the third quarter ended December 31, 2000. It recorded a turnover of Rs 43.06 cro
re and net profit of Rs 2.54 crore for the corresponding period last year.
Cosmo Films net up 41 per cent
NEW DELHI: Cosmo Films Ltd, a manufacturer of bi-axially oriented polypropylene packaging material, has reported a net profit of Rs 2.90 crore during the third quarter ended December 31, 2000. This represented a 41.46-per cent increase over the net profi
t of Rs 2.05 crore recorded in the same period during the previous year.
Godrej Soaps Q3 net up 42%
MUMBAI: Godrej Soaps Ltd has ended the third quarter of September-December 2000 with a 42 per cent increase in net profit at Rs 18.50 crore as compared to Rs 12.98 crores in the year-ago period.
SRF net slides
NEW DELHI: SRF Ltd, a nylon tyre cord fabric manufacturer, has reported a 5.97 per cent decline in net profit for the quarter ended December 31,2000 at Rs 6.30 crore as against a net profit of Rs 6.70 crore recorded in the same period during the previous
year.
Tanfac Industries net rises
CHENNAI: Tanfac Industries Ltd has reported a net profit of Rs 58.12 lakh on a net sales of Rs 14.92 crore for the third quarter ended December 31, 2000, a 79-per cent increase in net profit over the previous year period.
Tips net down
MUMBAI: Tips Industries Ltd has ended the third quarter of 2000-2001 down by 23 per cent at Rs 5.97 crores as compared to Rs 7.79 crores in the year-ago period.
Petrochemicals
HPL gets moratorium on loans
HALDIA Petrochemicals Ltd (HPL) has been given a one-and-a-half-year moratorium on a portion of the loans it had taken from banks and financial institutions, according to the West Bengal Finance Minister, Dr Asim Dasgupta.
Pharmaceuticals
Cadila Pharma's chemical plant gets USFDA nod
THE bulk drug manufacturing facility of the Rs 500 crore Cadila Pharmaceuticals Ltd (CPL) situated at Ankleshwar has been accorded the USFDA approval for its fluoxetine hydrochloride manufacturing facility. This is the first USFDA approval for Fluoxetine
HCL bulk manufacturing facility in India.
Taxation
ICAI for IT slabs rationalisation
NEW DELHI: The Institute of Chartered Accountants of India (ICAI) has called for further rationalisation of personal income tax slabs to augment the direct tax revenues of the Government.
