Automobiles
Sundram Fastners wins GM award again in 2000
SUNDRAM Fastners Ltd, the Chennai-based automotive components manufacturer, has won the General Motors Corporation's `Supplier of the year' award for the fifth consecutive year for calender 2000.
Corporate
Raymond completes buy-back programme
MUMBAI: Raymond Ltd has bought back 1,37, 10,083 shares from the open market under its buy back for a total consideration of Rs 186.25 crore.
Search begins for new guard at Onida Savak
THE Board for Industrial and Financial Reconstruction (BIFR) has directed Industrial Development Bank of India (IDBI) to advertise for a change of guard for Onida Savak Ltd to revive the ailing company.
Novartis, Ciba to sell Goregaon assets
MUMBAI: Novartis India Ltd together with Ciba Speciality Chemicals India Ltd on Tuesday signed a letter of intent with Kingston Properties Private Ltd for the sale of their rights and interests in their properties at Goregaon in Mumbai.
JK Ind's proposal for Tyre Corpn rejected
THE Board for Industrial and Financial Reconstruction (BIFR) has rejected the revival proposal of J.K. Industries Ltd (JKIL) for the ailing Tyre Corporation of India Ltd (TCIL).
Flex Engg plans financial revamp
THE Delhi-based Flex group of industries is banking heavily on the financial institutions for restructuring the group engineering outfit -- Flex Engineering Ltd.
Khaitans to retain 9% in George Williamson
THE B.M. Khaitan group will retain, ``as a goodwill gesture'', its nine per cent stake in the tea outfit, George Williamson (Assam) Ltd (GWA), over which the Magors of the UK, with a 70 per cent stake, are in the process of establishing direct management
control in terms of an ``amicable parting of ways'' recently agreed to by the two sides.
`Genome project opens new avenues for cos'
THE human genome project has opened up tremendous opportunity for the Indian pharma and bio-technology companies, which can work on interpreting the genome and developing cures based on this information, according to Dr Eugene W. Myers, Vice-President, I
nformatics Research, Celera Genomics.
Financial Performance
VSNL: A few jarring tones
PRIMA facie, it may appear that Videsh Sanchar Nigam has recorded a robust 88 per cent growth in post-tax earnings for the year ended March 31, 2001. But this growth masks the fact that the strong growth is attributable to a major non-recurring provision
made by VSNL in its books in 1999-2000.
BSL Ltd net higher at Rs 5.53 cr
NEW DELHI: BSL Ltd, a L.N.J. Bhilwara group company, has reported a 13.79-per cent increase in net profit for the year ended March 31, 2001 at Rs 5.53 crore against a net profit of Rs 4.86 crore recorded in the previous year.
Goldstone Teleservices net at Rs 2.08 cr
HYDERABAD: Goldstone Teleservices Ltd has registered total revenues of Rs 11.80 crore with a net profit of Rs 2.08 crore for the quarter ended March 31, 2001 against total revenues of Rs 7.54 crore and a net profit of Rs 1.20 crore in the same period the
previous year.
Keltron posts 20 pc growth in turnover
THE Kerala State Electronics Development Corporation (Keltron) has posted a 20 per cent growth in turnover in 2000-01.
Manugraph Industries turnover declines
MUMBAI: Manugraph Industries Ltd has reported a decline in net sales and income from operations at Rs 8.08 crore for the quarter ended March 31, 2001 as compared to Rs 34.88 crore in the year-ago period.
Shree Rama Multi-Tech net falls
Shree Rama Multi-Tech Ltd has registered a six per cent drop in net profit at Rs 10.14 crore for the second quarter ended March 31, 2001 against Rs 10.76 crore in the same period the previous year.
Snowcem India net higher at Rs 17.87 cr
MUMBAI: Snowcem India Ltd has registered a 21 per cent increase in net profit at Rs 17.87 crore in the year ended March 31, 2001 against Rs 14.77 crore in the previous year.
Ind-Swift net rises 48 pc
Ind-Swift Ltd has registered a net profit of Rs 7.77 crore, for the year ended March 31, 2001, up 48 per cent from Rs 5.26 crore recorded in the previous year.
Samtel net up 11 pc
NEW DELHI: Samtel Color Ltd, the largest Indian manufacturer of colour TV picture tubes, has reported a decline in gross sales which fell to Rs 666.54 crore in 2000-01 compared to Rs 669.9 crore registered in the previous year.
Mutual Funds
No signs of volatility abating: HDFC Mutual
HDFC Mutual Fund hopes that in the coming months, the liquidity position would be comfortable and the rupee would remain stable. It also expects the interest rate to soften gradually during this period.
