Corporate
Nalco registers 106 pc growth in net profit
NATIONAL Aluminium Company Ltd (Nalco) has registered a 106 per cent growth in its net profit for 1999-2000, at Rs. 512.10 crores as against Rs. 248.25 crores in the previous year.
SKF Bearings posts Rs 3.4-cr net in Q1
SKF Bearings India Ltd has announced a net profit of Rs. 3.40 crore for the first quarter ended March 31, 2000 as against a loss of Rs. 9 crores in the corresponding quarter of the previous fiscal.
Bhagyanagar Metals net up 93 pc
HYDERABAD: Bhagyanagar Metals Ltd (BML), part of the Hyderabad-based Surana Udyog group, has registered a growth of 29.3 per cent in turnover, 37.44 per cent in gross profit and 93 per cent in post-tax profit for the year ended March 31, 2000.
Wellwin Industry net up 62 p c
CHENNAI-BASED Wellwin Industry Ltd has reported a turnover of Rs. 25.54 crores and a net profit of Rs. 3.74 crores for the half-year ended March 31, 2000. In the corresponding period of last year, the company's turnover was Rs. 14.43 crores and net pro
fit, Rs. 2.26 crores.
NSE withdraws 39 cos from permitted list
THE National Stock Exchange (NSE) today withdrew trading in equity shares of 39 companies under the `permitted to trade' category from May 31 until further notice.
Tata Income Fund offers more options
TATA Income Fund, which so far offered investors dividends on a six-monthly basis, would now offer them monthly and quarterly income options. The move is being branded as the Tata Monthly Income Plan (MIP).
Valvoline Cummins plans own manufacturing unit
VALVOLINE Cummins Ltd (VCL), a 50:50 joint venture of the US-based Valvoline International Inc and Cummins Diesel Sales and Services India Ltd (a wholly-owned subsidiary of Cummins India Ltd), is contemplating a separate lubricants manufacturing unit in
India as part of its plans to achieve a market share of atleast five per cent by March 2003.
Miscellaneous
CII study to rate States on competitiveness
THE Confederation of Indian Industry (CII) and the Rajiv Gandhi Foundation (RGF) are jointly conducting a study to rate States in terms of competitiveness and investor-friendliness, according to the newly-appointed CII President, Mr. Arun Bharat Ram.
Alfa Laval Q1 netat Rs 21.06 cr
PUNE: For the quarter ended March 31, 2000, Alfa Laval Ltd, has posted a net sales of Rs. 50.25 crores as against Rs. 42.73 crores recorded during the corresponding period last year. The company has achieved a net sales of Rs. 192.28 crores for the year
ended December 31, 1999. According to the unaudited financial results for the quarter, the gross profit after interest but before depreciation and taxation stood at Rs. 25.37 crores (Rs. 6.05 crores). The net profit stood at Rs. 21.06 crores (Rs. 3.78 cr
ores).
Stocks
DSE bid to push institutional business
THE Delhi Stock Exchange (DSE) has appointed Stock Holding Corporation of India Ltd (SHCIL) and HDFC Bank as its clearing house members in order to push institutional business at the bourse.
