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Hind Lever sales dip 10 pc, net rises 26 pc in Q1
FMCG major Hindustan Lever Ltd (HLL) today reported a 26.2 per cent rise in net profit to Rs 428.54 crore for the first quarter ended March 31, 2002, as against Rs 339.53 crore in the year-ago period. This includes exceptional income of Rs ...
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Kotak Mahindra to merge four arms with itself
KOTAK Mahindra Finance Ltd (KMFL) has decided to merge four of its investment firms with itself before converting into a bank. KMFL's is one of the two proposals recently cleared by the Reserve Bank of India for setting up private sector banks. ...
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Manipal group to shut down NBFC arms -- Restructuring plans for repayment of deposits
THE Manipal group plans to exit non-banking finance business by shutting down its three subsidiaries — Maha Rashtra Apex Corporation Ltd (MRAC), Canara Nidhi Ltd (CNL) and Manipal Home Finance Ltd (MHFL). The group has requested the ...
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Elf Gas acquires Mobil Peevees' LPG business
ELF Gas India Ltd (EGIL), the fully owned subsidiary of the French petroleum major TotalFinaElf, has acquired the marketing and bottling activities of the Mobil Peevees Company Ltd's (MPCL) liquefied petroleum gas (LPG) business. Following the ...
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DCA exempts FIs from DRR provisions
THE Department of Company Affairs (DCA) has decided to exempt all-India financial institutions, regulated by the RBI and banking companies, from the provisions of debenture redemption reserve (DRR). This exemption is for both public as well as ...
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`Mahajan effect' speeds up village telephony
THE Union Communications Minister, Mr Pramod Mahajan's warning to Bharat Sanchar Nigam Ltd (BSNL) and the private basic operators to deliver on their targets of providing village public telephones (VPT) seems to be having an impact. As per the ...
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HDFC Bank fourth-quarter net up 38 pc at Rs 90 cr
HDFC Bank Ltd has recorded a 37.7 per cent growth in net profit at Rs 90.24 crore for the fourth quarter March 31, 2002, as compared to Rs 65.54 crore in the corresponding period in the previous year. "The bank's performance is in line with ...
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