Automobiles
Banks better bet for car financing: J.D. Power
CUSTOMERS who obtained their car financing loan from a nationalised bank are relatively more satisfied than those choosing a non-banking finance company (NBFC) or a foreign bank for the same, according to the results of the J.D. Power Asia Pacific 2001 I
ndia Consumer Financing Satisfaction Study, announced here.
Corporate
`No greenfield steel capacity must be allowed for next few years'
DR JAMSHED J. IRANI retired as Tata Steel's Managing Director on July 22, 2001. On his last day in office at Jamshedpur, Dr Irani spoke to Business Line on his innings, his satisfaction at seeing the steel plant emerge most modern and its future plans. H
e moves to Mumbai to take up responsibilities that may be assigned by Mr Ratan Tata. But, he says he will settle down in Jamshedpur. Excerpts:
Bids for Bombay Dyeing buyback plan suggested
A SECTION of shareholders of Bombay Dyeing and Manufacturing Ltd has demanded that the company conduct its proposed buyback scheme by tender instead of going in for open market purchases.
Exide wants duty on imported batteries
EXIDE Industries Ltd is to urge the Union Government to slap the anti-dumping duty on batteries being dumped in the Indian market from Taiwan, Thailand, Bangladesh and Saudi Arabia.
Jinxed venue
IS G D Birla Sabhaghar, the auditorium forming part of the imposing Laxminarayan Temple built by Mr K.K. Birla, a jinxed venue for shareholders? At least one shareholder does think so.
Sunrider asked to clarify on imports
THE Department of Industrial Policy and Promotion has asked Sunrider to clarify whether the ``company is engaged in trading of any product by way of import.''
Alliance Cap plans bond scheme
THE Alliance Capital Asset Management has sought the approval of SEBI for launching a monthly bond scheme under its Monthly Income Series umbrella.
`Company must fix managerial remuneration'
THE Federation of Indian Chambers of Commerce and Industry (FICCI) has suggested that managerial remuneration should not be governed by the provisions of the Company Law.
Seshasayee Paper Chairman dead
CHENNAI: Mr S. Viswanathan, Chairman, Seshasayee Paper and Boards Ltd died on Sunday following a brief illness. He was 86. He is survived by his wife.
Financial Performance
Escorts net falls 62 pc in Q1
ESCORTS Ltd, the flagship company of the Delhi-based Escorts Group and one of the largest tractor manufacturers of the country, has reported a fall of over 62 per cent in its net profit for the first quarter of the current fiscal.
Cadila Healthcare net increases 34 pc in Q1
MUMBAI: Cadila Healthcare Ltd has registered a 34 per cent rise in net profit at Rs 19.17 crore in the first quarter ended June 30, 2001 as against Rs 14.32 crore in the corresponding period last year. Net sales has gone up to Rs 143.74 crore as compared
to Rs 132.80 crore in the year ago period. Other income was at Rs 42.79 lakh. Total income has gone up to Rs 144.17 crore (Rs 133.30 crore).
Regency Ceramics Q1 net up
HYDERABAD: Regency Ceramics Ltd has posted a turnover of Rs 26.35 crores, other income of Rs 24.54 lakhs and a net profit of Rs 3.64 crores during the first quarter of the current fiscal.
Asian Paints Q1 net rises 14 pc
BETTER realisations from phthalic anhydride and pentaerythritol helped Asian Paints India Ltd to increase its net profit by 14 per cent to Rs 21.22 crore in the first quarter ended June 30, 2001 as against Rs 18.55 crore in the corresponding period last
year.
Pharmaceuticals
Dr Reddy's into biogenerics
DR Reddy's Laboratories Ltd (DRL), a vertically integrated Hyderabad-based pharmaceutical company, has unveiled a major programme for its biogenerics business.
American Remedies, DRL merger complete
DR Reddy's Laboratories Ltd (DRL) has announced here on Monday that the merger of American Remedies Ltd (ARL) with it has been completed with both Chennai and the Hyderabad High Courts approving the scheme of amalgamation. The merger would come into effe
ct retrospectively from April 1, 1999.
Steel
Eco-friendly atmosphere at Tata steel plant
Helmets of the Tata Steel workers placed on top of an aquarium. There are many such aquariums placed in the Tata Steel plant at Jamshedpur to provide an eco-friendly atmosphere for the staff.
Stocks
`Initiate measures to revive capital markets'
THERE is a vital need to revive the capital markets in the country if investment in industries is to increase. The Union Government should also introduce internal reforms if the domestic industries are to become competitive, according to Mr R.V. Kanoria,
Vice-President, Federation of Indian Chambers of Commerce and Industry (FICCI).
Play(ers) time
Staff in a broker office playing video games on the trading terminals. Brokers across the country shut their trading terminals for a day on Monday protesting the ban on badla and the introduction of rolling settlement.
