Corporate
Blue Dart: Right on target
DESPITE the looming spectre of an industrial slowdown, Blue Dart Express has managed to turn in an impressive financial performance for the fourth quarter of the year 2000-01.
Elmin Electrodes in pact with Mitsui Babcock
THE Chennai-based Elmin Electrodes Pvt Ltd on Wednesday announced that it would soon launch a range of electrodes manufactured under a technical collaboration with Babcock Welding Products Ltd, a unit of Mitsui Babcock Energy Services Ltd of the UK. The
technology agreement between Elmin and Mitsui Babcock was signed in January.
Ministry stand sought on Richardson & Cruddas
THE Ministry of Heavy Industries and Public Enterprises (MHI) has been directed by the Board for Industrial and Financial Reconstruction (BIFR) to take a view on whether Richardson & Cruddas (1972) Ltd (RCL) was viable, and whether it was willing to exte
nd further support to the company in the light of its present performance.
Kuoni Travel waiting for right time to tap market -- Swiss parent to dilute 25% stake
KUONI Travel India Ltd, the wholly-owned subsidiary of the $2.3-billion Swiss company Kuoni Travel Holding Ltd, is all set to become the first travel and tourism company to be listed on Indian bourses.
Roofit Industries to raise cement plaster capacity
THE Mumbai-based Roofit Industries Ltd is to increase its capacity to make cement plaster to 5.5 lakh tonnes in a bid to capture the ready-to-use cement plaster market.
Grundfos to set up assembly plant in Sri Lanka
GRUNDFOS Pumps India Pvt Ltd, a subsidiary of Grundfos Pumps of Denmark, a global major, proposes to set up an assembly line in Sri Lanka.
Financial Performance
NHPC net rises to Rs 443.19 cr
THE wholly-Government-owned National Hydroelectric Power Corporation has registered a net profit of Rs 443.19 crore on a sales turnover of Rs 1,236.34 crore during 2000-01.
Wartsila puts huge rise in profit to billing pattern
THE Rs 340.2 crore-Wartsila India Ltd (WIL), which registered a 200 per cent rise in net profit for the quarter ended March 31, 2001, has attributed the jump in bottomline to a quirk in the company's billing pattern.
Midhani posts lower turnover, net profit
MIDHANI, the aero-space materials public sector defence undertaking (PSU), has achieved a sales turnover of Rs 110.35 crore and a modest net profit of Rs 5 lakh for the 2000-01 fiscal against a sales turnover of Rs 110.48 crore and net profit of Rs 2.44
crore in the same period the previous year.
Mutual Funds
Study finds old economy scrips still charming
OVER 60 per cent of the country's leading fund managers are in favour of investing in the old economy sector. This is revealed in a survey conducted by Cholamandalam Distribution Services Ltd (CDSL), a Murugappa group outfit that operates as an intermedi
ary.
`Be patient with your investments'
THOUGH investing in income funds should form part of the overall investment strategy of investors in equity market, moving into income funds from equity is not advisable at this juncture when the capital market has taken a beating, according to the CEO o
f Kothari Pioneer Mutual Fund (KPMF), Mr Vivek Reddy.
PSU
Downward revision in CIL's write-off limits suggested
THE practice of writing off coal shortages up to 999 tonnes in individual cases, valued around Rs 5 lakh at current prices, as followed by Coal India Ltd. (CIL) needs to be reviewed as it encourages plundering of national resources, according to the Parl
iamentary Standing Committee on Energy. Only shortages in excess of 1,000 tonnes are presently investigated.
Work resumes at Balco
ITS finally over. After 67 long striking days, the employees of Bharat Aluminium Company Ltd (Balco) have resumed work at its plant in Korba.
SSI
Training programme for SMEs
THE Indian Electrical and Electronic Manufacturers' Association (IEEMA) has been asked by the Asia-Invest Secretariat to train the local SMEs (small and medium entrepreneurs) for the European Union markets under the aegis of Asia Invest Programme.
Stocks
BSE, NSE withholding payout on Amara Raja shares
THE Bombay Stock Exchange and the National Stock Exchange together have withheld the payout of a few stock brokers aggregating about Rs 40 crore for sale transactions in Amara Raja Batteries Ltd (ARBL).
Blames software flaw for non-collection of margin
THE Calcutta Stock Exchange could not collect gross exposure margin of around Rs 52 crore on a single day of the Settlement No. 148 from the defaulter-members because of an inherent flaw in the software of its margin module.
