Financial Daily
from THE HINDU group of publications

Saturday, November 10, 2001





FMCG cos may skid on slowdown
HAVING sailed through the July-September 2001 quarter with fairly healthy numbers, the fast moving consumer goods (FMCG) sector may find the going tough in the next two quarters as consumer demand continues to remain slack, analysts and industry sources say.

Grasim Suitings plans readymades foray
DURING the next one or two years, Grasim Suitings from the Aditya Birla group will begin to make a foray into the readymade garments sector, which has been posting an impressive growth of around 20 per cent annually.

Gufic Biosciences promoters to dilute 7% stake
THE promoters of Gufic Biosciences Ltd are to dilute their stake by seven per cent to 75 per cent. Mr Jayesh Choksi, promoter and Chairman and Managing Director, Gufic Biosciences Ltd, today said that the dilution is not for infusing funds but in accorda nce with SEBI (Securities and Exchange Board of India) listing rules.

LG and the six sigma sense
IF you thought Six Sigma was an IT buzzword, then there's something amiss. Because a consumer electronics giant in India has got on to the quality initiative and look what it has achieved.

Crisil move to encourage debate among students
THE Investor Protection Cell in the Department of Company Affairs (DCA) has settled 464 complaints of investors in September.

Sterlite Optical directors quit
STERLITE Optical Technologies Ltd has informed the Bombay Stock Exchange that Dr Mansoor A. Safi and Mr A.T. Panjwani have resigned from the board of directors of the company.

Philips launches PC monitor models
PHILIPS India Ltd has announced the national launch of two new upmarket products -- a PC monitor with TV quality video photo display in upgraded LightFrame2 technology and a 15-inch LCD TV-cum-PC monitor with picture-in-picture facility.

Shri Shakti in marketing pact with Tulip Hotels
THE Shri Shakti group which has under its wings the erstwhile five-star Ramada Hotel Manohar has entered into a tie-up with Tulip Star Hotels Ltd (TSHL), headed by Dr A.B. Kerkar, to manage and market the hotel, and as a consequence, the hotel has come t o be known as ``The Tulip Manohar''. Addressing presspersons here, Mr D.V. Manohar, Chairman of Shri Shakti group, said the tie-up with Ramada International having ended, Shri Shakti had entered into a 10-year collaboration with TSHL, which had a strong sales and marketing network through its sister concern, Cox and Kings Ltd.

`Organisational culture drives excellence'
`ORGANISATIONAL culture drives change and excellence rather than conventional themes.' This was the key consensus drawn at a forum of top HR professionals from across leading corporates, hosted recently by the Institute of Management Technology (IMT), Gh aziabad. The panelists deliberated on topics ranging from `Culture interventions for creating a winning organisation', `Culture issues in mergers and acquisitions' and `Staffing for cultural fit'.

Rockwell to hold talks with auto cos
INDUSTRIAL automation company Rockwell Automation India plans to speak to leading automobile firms in the country to sell them industrial automation packages, a top company official said on Friday.

Management swings to music at XLRI
MUSIC and management are apparently getting along famously at XLRI, Jamshedpur, where students have recently applied, tried and tested management principles to organise the annual function of the Society for the Promotion of Indian Classical Music and Cu lture amongst Youth (Spicmacay).

Futureschools to expand in Asia
FUTURESCHOOLS, the 100 per cent subsidiary of the California-based Futureschools Inc, will expand its operations in Asia in three months, according to Mr Annamalai Muthiah, Founder, Futureschools. Futureschools is present in Sri Lanka with Malaysia being the next in line.

Financial Performance
Nava Bharat Q2 net up at Rs 3.6 cr
NAVA Bharat Ferro Alloys Ltd (NBFAL) has registered a significant growth in net profit for the second quarter of current fiscal year ended September 30, 2001 despite suffering a fall in turnover. According to the unaudited financial results taken on reco rd by the board here, the company achieved a sales turnover of Rs 75.68 crore as against Rs 87.17 crore in the corresponding quarter of last year, other income of Rs 43.88 lakh (Rs 29.89 lakh) and a net profit of Rs 3.6 crore (Rs 2.49 crore), yielding an EPS of Rs 2.85 (Rs 1.85) on a paid-up equity base of Rs 11.92 crore.

BEL spots components unit as growth area
BHARAT Electronics Ltd (BEL) which has installed solar traffic signals at 10 major traffic junctions in Bangalore, hopes to make Bangalore a model city.

BILT hopes to complete Phoenix deal next week
BALLARPUR Industries Ltd (BILT) today said that it expects to completely de-link itself from the Thailand-based Phoenix Pulp and Paper Company (PPCL) by next week.

GAIL, Shell to continue tie-up
GAS Authority of India Ltd (GAIL) and Shell International Gas Ltd have renewed their strategic tie-up to explore business opportunities in the gas sector and other related areas.

Auditors qualify Natco accounts
BRAHMAYYA & Company, the statutory auditors of Natco Pharma Ltd (NPL), the city-based ailing pharma company, have qualified the accounts of the company for the year ended March 31, 2001.

Reddy's US arm gears for presentation
REDDY US Therapeutics Inc, a biopharmaceutical company in suburban Atlanta and a subsidiary of Dr Reddy's Laboratories Ltd, has announced that it would make four separate oral presentations from its pre-clinical research programmes at Scientific Sessions 2001, the annual scientific meeting of the American Heart Association, to be held from November 11 to November 14 at Anaheim in the US.

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