Automobiles
Maruti to make finance foray
MARUTI Udyog Ltd expected its recent diversifications to non-manufacturing activities to account for two per cent of its profits, the Managing Director, Mr Jagdish Khattar, said on Monday.
Ashok Leyland to produce heavy duty vehicles for coal mining
AS part of its product diversification programme, the Chennai-based Ashok Leyland is actively considering producing heavy-duty dumpers and trippers for use by the coal-mining sector. Most of the new, heavy-duty vehicles will be manufactured at the compan
y's Hosur unit near Bangalore.
M&M to import, market products from TongYang
MAHINDRA & Mahindra Ltd (M&M) will soon commence import and marketing of farm equipment from TongYang, Korea, according to company officials.
Corporate
Sterlite Optical switches to cost-driven mode
STERLITE Optical Technologies Ltd (SOTL) is transforming its business model for its optical fibre business from a price-driven model to a volume and cost-driven model.
DEPB norms amended for textile products
5THE Directorate-General of Foreign Trade (DGFT) has amended the Handbook of Procedures to specify that the description of all Duty Entitlement Passbook (DEPB) entries with value caps against them, under the Textiles Product Group, would deem to cover em
broidered products or products that have utilised metallised yarn.
Engg, chem products top duty passbook entries
5ENGINEERING and chemical products dominate the list of 400-odd duty entitlement passbook (DEPB) entries for which value caps have been removed by the Government from the DEPB schedule to bolster exports.
Internally-generated goodwill not an asset, says ICAI
5AN exposure draft of the proposed accounting standard on intangible assets issued by the Institute of Chartered Accountants of India (ICAI) has held that internally-generated goodwill should not be recognised as an asset.5 It has also proposed that inte
rnally-generated brands, mastheads, publishing titles, customer lists and items similar in substance should not be recognised as intangible assets. In respect of other internally- generated intangible assets, the exposure draft has provided certain condi
tions that need to be fulfilled for recognition.
Reliance in marketing pact with DuPont
RELIANCE Industries Ltd has entered into a strategic alliance with DuPont Apparel and Textile Sciences for marketing and selling DuPont's Lycra brand of stretch fibres in India.
Financial Performance
Henkel-SPIC Q3 net zooms
HENKEL-SPIC India Ltd has reported a net profit of Rs 1.96 crore for the quarter ended September 30, 2001, as against Rs 72 lakh in the same quarter last year - an increase of 172 per cent.
Hind Motors posts Rs 2.68-crore net
HINDUSTAN Motors Ltd (HM) on Monday said it has made a net profit of Rs 2.68 crore in the July-September quarter compared to a net loss of Rs 24.13 crore in the same quarter last fiscal.
Kesoram Ind net at Rs 2.05 cr
KOLKATA: The B.K. Birla outfit, Kesoram Industries Ltd (KIL), has posted a profit-after-tax (PAT) of Rs 2.05 crore on a turnover of Rs 331.98 crore during the second quarter ended September 30, 2001. The board of the company took the unaudited results on
record here on Monday.
Lupin net up at Rs 23.70 cr
MUMBAI: Lupin Ltd has reported an increase in net profit at Rs 23.70 crore during the quarter ended September 30, 2001 as against Rs 2.03 crore in the same period last year.
Zee Tele net declines 7.6% to Rs 29.60 cr
ZEE Telefilms Ltd has reported a 7.6 per cent decline in net profit at Rs 29.60 crore for the quarter ended September 30, 2001, as compared to Rs 32.05 crore in the year-ago period.
Samkrg Pistons net at Rs 1.68 cr
HYDERABAD: Samkrg Pistons and Rings Ltd has recorded a total income of Rs 13.99 crore and a net profit of Rs 1.68 crore for the quarter ended September 30, 2001 as against a total income of Rs 12.16 crore and net profit of Rs 1.28 crore for the same quar
ter last year.
SRF posts higher net, sales in Q2
NEW DELHI: SRF Ltd, a nylon tyre cord fabric manufacturer, has reported a 58.11 per cent increase in net profit for the quarter ended September 30, 2001 to Rs 5.85 crore as against a net profit of Rs 3.70 crore recorded in the same period the previous ye
ar.
Information Technology
NIIT: Links still down
THE adverse effects of the profit warnings/management guidance issued by NIIT for its software business and the computer education business are visible on the fourth quarter earnings performance.
Pharmaceuticals
Ranbaxy, Dr Reddy's can make it big in US market: Credit Suisse
Credit Suisse First Boston (Hong Kong) Ltd (CSFB), the leading global equity analyst, has rated two of the Indian pharmaceutical majors - Ranbaxy and Dr Reddy's Laboratories - as ``the best positioned Indian companies'' for gaining size and above-market
earnings growth in the US generic drugs industry, which is currently estimated to be worth around $12-billion.
Steel
Tata Steel bets on cost control, marketing drive
COST control and increased focus on marketing branded products are expected to help Tata Iron and Steel Company Ltd (Tata Steel) to show improved sales in the second half of fiscal 2001-02, according to its Managing Director, Mr B. Muthuraman.
