Corporate
Indian Seamless to issue equity to IFC
MUMBAI: The board of directors of Indian Seamless Metal Tubes Ltd has approved a proposal to issue equity shares on a private placement basis.
Financial Performance
HEG net up 31.98 pc; to pay 20% dividend
HEG Ltd (HEGL), an LNJ Bhilwara group company, has reported a 31.98 per cent increase in net profit for the year ended March 31, 2001 to Rs 40.11 crore against Rs 30.39 crore recorded in the same period the previous year. The company had recorded a net p
rofit of Rs 36.16 crore for the year ended March 31, 1999.
Subex net rises to Rs 10.28 crore
BANGALORE: Subex Systems, the Bangalore-based telecom software company, has declared a dividend of Rs 2 per share (20 per cent) of a face value of Rs 10 for the fiscal 2000-01 with its net profit recording a 106 per cent jump at Rs 10.28 crore (Rs 5.03 c
rore) on a revenue of Rs 55.24 crore (Rs 31.21 crore).
Softsell net profit slides
Despite a slight dip in its net profit, Softsell has proposed a dividend of 10 per cent at Rs 0.50 (50 paise) per share of face value of Rs 5 each for the year 2000-2001. The company's net profit for the year was lower at Rs 55.62 lakh against Rs 55.78 l
akh in the previous year. Consequently, the earnings per share declined to 0.56 during the year compared to Rs 0.88 in the previous year.
Maral Overseas net profit declines 53 pc
NEW DELHI: Maral Overseas Ltd (MOL) has reported a 53.44 per cent decline in net profit for the year ended March 31, 2001 to Rs 11.04 crore (Rs 23.71 crore).
Shift in customer tastes, promo expenses tell on Bajaj
TAKING into account the steady shrinkage in scooter market and the mounting competitive pressure in the industry, it is not surprising to notice a sharp decline in Bajaj Auto's earnings for the year ended March 2001. A combination of factors have been at
play, which has resulted in a 57.21 per cent decline in net profit and 3.16 per cent drop in turnover.
PSU
Supply orders from DoT -- Hind Cables: Reservation likely post-divestment
THE Union Government is likely to continue the existing reservation of supply orders for Hindustan Cables Ltd from the Department of Telecommunications (DoT) for at least two years after disinvestment.
Knowhow for bullet-proof products -- Tatas, Mahindras in talks with Midhani
THE Tata Group company Telco and Mahindras are in discussion with the defence public sector undertaking - Midhani, for development of customised products based on ballistic armour steel (Jackal Steel), which has a wide range of security related applicati
ons, including bullet-proof jackets.
Pharmaceuticals
Aurobindo sets up unit for HIV care
AUROBINDO Pharma Ltd (APL), one of the leading domestic pharmaceutical majors, has unveiled Imunus -- the first exclusive anti-viral division in the country dedicated to HIV care.
Steel
Cost-saving methods introduced at DSP
SEVERAL new technologies have been introduced at Durgapur Steel Plant which will help the Government undertaking effect cost savings on production.
