Automobiles
Marginal rise in H1 car sales -- Maruti down in H1, despite higher offtake in Sept
THE market leader in the passenger car segment of the automobile industry, Maruti Udyog Ltd (MUL), has witnessed a steep fall in sales during the six-month period between April to September this year, in spite of a 15 per cent jump in sales last month.
Hyundai flags off first export to Indonesia
HYUNDAI Motor India Ltd (HMIL) on Tuesday flagged off its first consignment of 500 cars to Indonesia. The company plans to export 2,200 units of the car under the Kia name this calendar year.
Corporate
Fitch downgrades Greaves' CP
NEW DELHI: Fitch Ratings India Pvt Ltd has downgraded the Rs 50-crore commercial paper (CP) programme of Greaves Ltd to `Ind D-1' from `Ind D-1+'.
Moneypore.com services for Anagram investors
ANAGRAM Securities, part of the Rs 2,000-crore Sanjay Lalbhai group, plans to bring moneypore.com to its investors and brand its stock broking service.
Tayal group to expand spinning capacity
THE Rs 2,255 crore Tayal group has firmed up its plans to pump in Rs 350 crore for expansion of two units of its flagship company Eskay K'n'IT India Ltd, formerly Shree Krishna Petro Yarns, in Bonta (Silvassa) and Bhilad (Gujarat).
Ahmedabad Electricity pref share issue, FD downgraded
MUMBAI: Crisil has downgraded the rating assigned to the Rs 50-crore preference share issue of Ahmedabad Electricity Company Ltd (AEC) to `PFA+' and that assigned to its fixed deposit programme to `FAA-'.
Gramophone to supply music software to FM channels
GRAMOPHONE Company of India Ltd (GCIL) proposes to provide music software, from its vast repertoire, to FM radio channels. According to the GCIL's Director, Mr Pradipta Mahapatra, this will mark their entry into a new business, which is related to its co
re area of music.
Ramco group acquires Thanjavur Textiles
THE Ramco group which has diverse interests in cement, textiles, fibre roofing sheets and software has acquired a majority stake in Thanjavur Textiles Ltd (TTL).
Devonshire to buy Times Guaranty
THE Devonshire Capital group, a South-East Asia-based privately-owned investment and merchant banking group, is to acquire the entire 74.92 per cent equity stake of the Bennett Coleman & Company Ltd in Times Guaranty Ltd for $2 million.
IndusInd to acquire Foreindia.com
MUMBAI: Hinduja Finance Corporation Ltd has informed the Bombay Stock Exchange that IndusInd Entertainment Ltd is acquiring the business of horizontal Internet portal Foreindia.com.
Konka group to set up marketing co
NEW DELHI: Konka Electronics India Ltd (KEIL) on Tuesday formally announced the setting up of a new company, Konka Electronics Marketing India Ltd (KEMIL), to bolster its presence in the Indian market.
PDEXCIL meet to discuss uniform MoA
COIMBATORE: The committee of administration of PDEXCIL, at its meeting in November, is expected to discuss the issue of having uniform memorandum of articles (MoA), as suggested by the Ministry of Commerce, for all export promotion councils.
Chennai Petroleum gets award
CHENNAI: Chennai Petroleum Corporation Ltd (CPCL) was given the award for ``the Best Employer-Employee Relationship'' on Tuesday by the Rotary Club of Madras, here.
Financial Performance
Kinetic Motor Q2 net zooms; to pay Rs 2.50 interim
PUNE: Two-wheeler maker, Kinetic Motor Company, has more than tripled its net profit to Rs 6.57 crore for the second quarter ended September 30, 2000 from Rs 2.05 crore in the same period last year.
SKF Bearings
MUMBAI: SKF Bearings India Ltd has reported a net profit of Rs 22.1 crore for the third quarter ended September 30, 2000, compared to a loss of Rs 3 crore in the same period the previous year, according to a press release.
Mascon Global
CHENNAI: Mascon Global Ltd has reported a net profit of Rs 19.36 crore for the third quarter ended September 30, 2000 which is higher by 539 per cent from Rs 3.03 crore reported for the corresponding period last year.
Crompton Greaves posts profit in second quarter
MUMBAI: Crompton Greaves Ltd has registered a net profit of Rs 18.02 crore for the quarter ended September 30, 2000 as against a loss of Rs 37.35 crore in the same period the previous year.
Precot Mills Q2 net up
COIMBATORE: Precot Mills Ltd has witnessed a significant jump in turnover and net profit in the second quarter of the current financial year.
Shasun Chemicals net down
CHENNAI: Shasun Chemicals and Drugs Ltd registered a net profit of Rs 3.38 crore for the second quarter of 2000-2001 ended September 30, 2000. This is a drop of 25.71 per cent from Rs 4.55 crore registered in the same period the previous year.
Management
DJ Academy pact with BITS
THE D.J. Academy for Managerial Excellence (DJAME), promoted by the LMW Group, has tied up with Birla Institute of Technology and Science (BITS), Pilani for a two-year MS programme in manufacturing management.
Mutual Funds
Sundaram MF launches investor education series
SUNDARAM Mutual Fund has started an investor education series, the first of which covers 20 years' data on stock market performance and examines the nature of annual returns an investor would have got if he had put money in a portfolio of shares comprisi
ng the Sensex at the start of any month and held it for varying periods of time.
Prudential ICICI offers portfolio choice
PRUDENTIAL ICICI Mutual Fund has, through its portfolio management scheme (PMS), given investors three choices of portfolios, two of them discretionary. The third, non-discretionary, accommodates tailor-made schemes for clients.
Steel
Dastur to study viability of Durgapur alloy plant
M.N. Dastur & Co, metallurgical consultant, has been engaged by Steel Authority of India Ltd to carry out a study on the viability of its Alloy Steels Plant (ASP) at Durgapur. M.N. Dastur's report will be available in three months.
Stocks
2 PDs start retailing gilts thru NSDL -- Debt holdings in demat touch Rs 1000 cr
THE first tentative steps in demat trading in debt instruments has commenced. Currently, debt instruments worth over Rs 1000 crore can potentially be traded in demat form, with instruments up to this having been dematted with the National Securities Depo
sitory Ltd (NSDL).
