THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications

Tuesday, May 30, 2000

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Corporate

Consumer Electronics
Sharp drop in colour TV sales likely this year
THE colour television (CTV) industry may be headed for a lean patch with an estimated growth rate of 10 per cent for

Corporate
MMTC considering outlet for branded jewellery in Dubai
MMTC Ltd is looking for niche segments for retail marketing its branded jewellery in the Gulf and is studying the possibility of setting up a retail outlet in Dubai.

Alfa Laval to pay 40 pc interim
THE board of directors of Alfa Laval (India) Ltd (ALIL) has declared a 90 per cent dividend for the financial year ended December 31, 1999. The company has also announced a 40 per cent interim dividend for the current financial year (January-December 20 00), Ms. Lila Poonawala, Chairperson of the company, said. She stepped down from the post of Chairperson after the annual general meeting of the company held here today.

Kotak Mahindra Fin net at Rs 61.1 cr
MUMBAI: Kotak Mahindra Finance Ltd (KMFL) has churned out a 401 per cent jump in net profit for the year ended March 2000 on the back of hefty dividend received from its subsidiaries. KMFL has reported a net profit of Rs 61.1 crores (Rs 12.18 crores) inc luding tax-free dividend of over Rs 25 crores received from subsidiaries. The company has declared a dividend of 18 per cent or Rs 1.80 per share.



Bajaj Auto launches 4-stroke CNG auto
BAJAJ Auto Ltd (BAL), two- and three-wheeler major, today launched its indigenous, emission-friendly autorickshaw with a four-stroke compressed natural gas (CNG) engine.

Anant Rotospin gets final chance for rehabilitation
THE Board for Industrial and Financial Reconstruction (BIFR) has decided to give one last chance to Anant Rotospin Ltd (ARL) and its promoters for the revival of the company. The BIFR bench, however, decided not to withdraw the show-cause notice (SCN) on winding up the company.

Tetra Laval nominees quit Alfa Laval board
IN line with the decision of the Tetra Laval group, three board members of the multinational today quit the board of Alfa Laval (India) Ltd.

Ranbaxy finalises ESOP
RANBAXY Laboratories Ltd has finalised the details of its employees stock option plan (ESOP) as per which 25 lakh equity shares will be offered to the permanent management employees and working directors of the company and its subsidiaries.

Liberty Shoes EGM to decide on revamp
THE Haryana-based Liberty Shoes Ltd has called an extraordinary general meeting (EGM) of its shareholders on June 19 to seek their consent for certain specific businesses forming part of the company's restructuring plan.

Coates' Japanese parent to launch top-end products
FOLLOWING the acquisition of 59.42 per cent controlling stake in Coates of India Ltd (COIL), the DIC (Dainippon Ink and Chemicals) Group of Japan has decided to bring into India some of its top-end products in the graphic arts business.

EIH revenues, profits dip -- To maintain dividend
EIH Ltd, a member of the Oberoi Group and a major hotel chain in the country, has announced a dip in total revenues and net profit for the year 1999-2000.

Apollo Tyres net up 114%
NEW DELHI: Aided by a big spurt in other income, Apollo Tyres Ltd (ATL) has reported a 114.72 per cent increase in net profit for the year ended March 31, 2000 to Rs. 76.06 crores as against a net profit of Rs. 31.08 crores recorded in the same period du ring the previous year.

Corporate briefs
NEW DELHI: Maruti Udyog Ltd's latest passenger car offering, the Suzuki Wagon-R, which was launched in February this year, has crossed a milestone by selling 10,000 units within a period of 100 days since its debut in the domestic market.

Stocks
NSE trading terminal opened at MgSE
WITH the inauguration of an NSE trading terminal at the Mangalore Stock Exchange (MgSE), members can now directly access the Inter-connected Stock Exchange (ISE) and the National Stock Exchange (NSE).


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