Automobiles
Volkswagen keen on sourcing from India
THE German automobile major, Volkswagen, one of the world's largest passenger car manufacturers, has evinced keen interest in sourcing automobile equipment and components from auto ancillary units in India.
Yamaha not to launch mobikes from China
YAMAHA Motor Escorts Ltd (YMEL), the 74:26 joint venture between the Japanese automobile major Yamaha Motor Company and Escorts, has decided not to introduce Yamaha motorcycles made in China into the Indian market.
Wellwin bucks trend riding on two-wheelers
WELLWIN Industry Ltd, an infant in the auto components sector, has managed to buck the trend and post higher profit for the six-month period ended March 31, 2001. It managed this because it supplies starter motors to two-wheelers, an industry yet to be
touched by recession.
Corporate
Mecon completes IISCO deal
KOLKATA: The Burnpur works of Indian Iron & Steel Co (IISCO) is now in a position to manufacture thermo-mechanically treated (TMT) rebars with Mecon Ltd, the consultancy PSU under the Steel Ministry, commissioning rapid water quenching system (RWQS) at t
he steel plant's merchant and rod mill.
HLL's new corp comm chief
MUMBAI: Hindustan Lever Ltd has appointed Mr Shubhabrata Bhattacharya as General Manager, Corporate Communications. He takes over on July 1, 2001.
Guj Ambuja to mull pref allotment
MUMBAI: Gujarat Ambuja Cements Ltd has informed BSE that its board is meeting on May 18, 2001 to consider an issue of equity shares on preferential basis to persons other than promoters. -- Our Bureau
S.K. Khare appointed Sirpur Paper ED
HYDERABAD: Mr S.K. Khare has been appointed as the new Executive Director of Sirpur Paper Mills Ltd.
BG group chairman
NEW DELHI: BG India has appointed the former Gas Authority of India Ltd (GAIL) Chairman and Managing Director, Mr C.R. Prasad as Chairman, BG Group India.
Wipro, Oxfam launch x-ray unit in Bhuj
MUMBAI: Wipro Ltd, along with Oxfam India, has launched the first x-ray unit in Bhuj with facilities to provide physiotherapy treatment.
Financial Performance
TNPL: A safe bet for now
THE 2000-01 fiscal has been a very good one for Tamil Nadu Newsprint Ltd (TNPL) on the back of firm trends in paper prices. As the prices may well have peaked out and with international pulp prices declining 18 per cent in the last couple of months, fisc
al 2001-02 may not as good in terms of growth rates.
Hindustan Motors contains loss at Rs 18.97 crore
KOLKATA: Buoyed by an income of Rs 100.93 crore from the sale of its Earthmoving Equipment Division (EED), Hindustan Motors Ltd has been able to contain its net loss for 2000-2001 at Rs 18.97 crore against a higher net loss of Rs 62.28 crore in 1999-2000
.
MBT net up 53%
MUMBAI:Mahindra-British Telecom Ltd (MBT), a joint venture between the Mahindra Group and British Telecommunications Plc, has reported a 53 per cent increase in profit after tax at Rs 96.66 crore for the year ended March 31, 2001 as compared to Rs 63.03
crore in the previous year.
Texmaco net up
TEXMACO, a K K Birla group outfit, has recorded a turnover of Rs 150.1 crore for the year ended to March 31, 2001 against Rs 140.52 crore in 1999-2000. The PAT (before extraordinary items) improved to Rs 4.07 crore from Rs 2.73 crore, registering a growt
h of 49 per cent, according to a note issued by the company here today.
Mutual Funds
Birla IT Fund holds 50% of assets in cash
THERE is nothing new in a technology fund keeping a lot of its investments in the form of cash. Only this time it is as high as 50 per cent. Birla IT Fund has played safe by maintaining call and call equivalents that add up to half of its assets.
PSU
Traco Cables out of red
THE Kerala State-owned Traco Cables Ltd has achieved a gross profit of around Rs 5 crore during the last fiscal consecutively for the third year.
