Financial Daily
from THE HINDU group of publications

Saturday, May 19, 2001





Honda Siel Cars bags ISO-14001
NEW DELHI: Honda Siel Cars India Ltd (HSCI), a majority-owned subsidiary of Honda Motor Company of Japan, has recently been awarded the ISO-14001 certification by the German certifying agency RWTUW. The company has received the certification for establis hing its environment management systems as per ISO-14001 (1996).

Daewoo hopes on break-even this fiscal -- Unveils 3 new models
DAEWOO Motors India Ltd (DMIL) on Friday said its massive restructuring programme which included financial restructuring, cost-cutting measures and hiving off its engine and gear box plant would see the company breaking even in 2001-2002 when it expects to sell 55,000 cars in the country.

IFCI report sought on Cement Corpn sale
IFCI, the operating agency, has been directed by the Board for Industrial and Financial Reconstruction to submit its report on Cement Corporation of India Ltd indicating whether all the units had to be sold individually or collectively, and how the labou r dues should be settled.

Shiva Cement abandons strategic partner plan
THE Rourkela-based Shiva Cement Ltd has decided to drop its plans of roping in a strategic partner. Following the decision, Shiva Cement would now concentrate on expanding its production base on its own.

Yokogawa Blue Star bags Rs 14 cr order
BANGALORE: Yokogawa Blue Star Ltd, the process control and instrumentation company, has secured orders for revamping the C&I system of three companies in orders totalling Rs 14 crore.

Group Ashima venture with ALT of Germany
MUMBAI: The Ahmedabad-based Group Ashima on Friday announced its joint venture, Freshtex India Pvt Ltd, with the German garment washing company, ALT Group.

Sword & Shield to split stock
MUMBAI: The board of Sword & Shield Pharma Ltd has decided to sub-divide the face value of equity shares from Rs 10 per share to Re 1 per share. The EGM of the company will be held on June 15. -- Our Bureau

RINL initiates environmental measures
RASHTRIYA Ispat Nigam Ltd (RINL) has initiated a string of environmental management measures as part of its efforts to bag the ISO 14001 certification.

Financial Performance
Glenmark net down 21 pc
GLENMARK Pharmaceuticals Ltd has posted a fall of 21 per cent in net profit at Rs 17.08 crore during the year ended March 31, 2001 as against Rs 21.67 crore in the previous year.

Textool still in red despite sale of units
DESPITE selling four of its six divisions, Textool Company Ltd (TCL) belonging to the LMW group incurred a net loss of Rs 12.17 crore in the just concluded fiscal.

Nirma net rises to Rs 249.71 cr
MUMBAI: Nirma Ltd had posted a net profit of Rs 249.71 crore for the year ended March 31, 2001 compared to Rs 234.10 crore during the same period the previous year.

ITC Bhadrachalam nets Rs 34.89-cr profit
HYDERABAD: ITC Bhadrachalam Paper Boards Ltd has posted a net profit of Rs 34.89 crore in 2000-01 as against a net loss of Rs 32.12 crore in 1999-2000. The company's sales turnover during 2000-01 increased to Rs 610.63 crore from Rs 443.85 crore in the p revious year.

Astra-IDL net up 4 pc
BANGALORE: Astra-IDL has posted a net profit of Rs 1,427.43 lakh for the year ended March 31, 2001, a marginal increase of 3.97 per cent over Rs 1,372.9 lakh recorded in the previous year.

Nalco Chemicals net loss at Rs 94 lakh
KOLKATA: Nalco Chemicals India Ltd has reported a net loss Rs 94 lakh for the year ended March 31, 2001 against a net profit of Rs 6.85 crore in 1999-2000. However, since the previous year's figures had been regrouped, the key figures did not match with those in the balance sheet for 1999-2000, Mr N. Khanna, Director and Company Secretary told Business Line.

Vanavil Dyes nets Rs 4.48-cr profit
MUMBAI: Vanavil Dyes and Chemicals Ltd has reported a net profit of Rs 4.48 crore for the year ended March 31, 2001, a marginal increase over Rs 4.27 crore in the previous year.

Mutual Funds
Tata Select Sector Fund goes `ethical'
FOR Tata Mutual Fund, ``ethical investing'' is the guiding principle when it comes to allocations by the newly re-named Tata IT Sector Fund. In its avatar as Tata Select Sector Fund, it would stay away from areas like liquor or tobacco; it would also avo id investing in interest-bearing securities.

RSP supplies spiral weld pipes to Petronet
ROURKELA Steel Plant of SAIL has completed production and despatch of Rs 24.85 crore worth of spiral weld pipes of API (American Petroleum Institute) grade for the Mangalore-Hassan-Bangalore pipeline project of Petronet.

ARCI to have tech incubator
A science and technology entrepreneurship park (STEP) to catalyse technology development and transfer in the frontier areas of advanced materials has been set up at the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI) , here.

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