Cement
`Rise in cement prices was a long over due correction'
CEMENT demand is expected to grow at eight to ten per cent in the current fiscal from a negative growth of 1.5 per cent last year. But prices, which witnessed a significant uptrend last year, may remain stable at the current level, say manufacturers.
Corporate
HS classification -- Bid for a new product database
THE Commerce Ministry has launched an exercise for development of a new database for the common nomenclature and ITC harmonised system (HS) of classification of items for use by customs.
Graphite India to invest Rs 48 cr for capacity hike
GRAPHITE India Ltd has worked out an investment plan for Rs 48 crore to raise capacities of its graphite electrode units and set up a hydel power plant in Karnataka.
Tyche Peripherals bags BSES order
TYCHE Peripheral Systems Ltd, a Hyderabad-based company engaged in transaction automation products, has bagged a major BSES, Mumbai order for cash receipt terminals along with customised software solutions.
MSTC to expand import basket
MSTC Ltd (the erstwhile Metal Scrap Trade Corporation), a PSU under the administrative control of the Steel Ministry, has projected a major upswing in its import and domestic trade for 2001-02.
Over 40 cos to take part in K 2001 fair
OVER 40 Indian companies are expected to participate in the 15th International Trade Fair for Plastics and Rubber, to be held in Dusseldorf, Germany in October this year. The fair, referred to as K 2001 fair, is said to be ``the world's biggest platform
for plastics and rubber''.
Financial Performance
Mid-Day Multimedia: Quite a hot prospect
MID-DAY Multimedia has turned in a fairly impressive performance for the 2000-01 fiscal with a growth in post-tax earnings of 68 per cent. The company has managed to show good growth in revenues and earnings despite the sizeable scaling up of operations
in the last two years.
Finolex Cables net at Rs 72.51 cr
PUNE: Finolex Cables Ltd has recorded a turnover of Rs 605 crore for the year ended March 31, 2001 as against Rs 553 crore posted in the previous year, a growth of 9.3 per cent, according to Mr Deepak K. Chhabria, Managing Director, Finolex Cables. The v
alue of exports increased 70 per cent to Rs 18.4 crore.
LMW declares 35 pc dividend
COIMBATORE: Lakshmi Machine Works Ltd (LMW) has declared a dividend of 35 per cent for the just concluded fiscal as against 30 per cent last year.
Mutual Funds
HDFC MF sees subdued earnings growth in H1
HDFC Mutual Fund has debunked the view that the US economy is heading for a recession, placing its optimism on the US GDP numbers.
SBI MF to revise brokerage structure
SBI Mutual Fund has decided to revise the brokerage structure for its schemes. The new arrangement, SBI MF hopes, would compare more favourably with market rates.
PSU
NGEF to go in for global tendering yet again
THE ailing State public sector unit, NGEF, is considering going in for another round of tendering to entice corporate interest.
Pharmaceuticals
Cadila expects Rs 20 cr from HIV test kit export
THE Ahmedabad-based pharma major, Cadila Pharmaceuticals Ltd expects to clock exports of Rs 20 crore from its newly-developed rapid NEVA HIV detection kit.
Stocks
Non-compliance of disclosure norms -- HSE warns erring cos of penal action
OBSERVING that most of the companies listed on the bourse were not complying with the disclosure requirements under Regulation 8 of SEBI Takeover Regulations, the Hyderabad Stock Exchange (HSE) has warned the companies that non-compliance would render th
em liable for action, including criminal prosecution and monetary penalty among other directions.
