Financial Daily
from THE HINDU group of publications

Wednesday, May 23, 2001





Durgapur Cement to use paper bags
DURGAPUR Cement Works, an unit of Birla Corporation Ltd, hopes to increase its market share in West Bengal from 10 per cent to 13 per cent by packaging the product in paper bags.

New series from CNBC India
MUMBAI:Business channel, CNBC India, is introducing a series with an analytical perspective on the business of advertising.

186 complaints settled in April
NEW DELHI:The Investors Protection Cell in the Department of Company Affairs (DCA) settled 186 complaints of investors during April.

Action against India Carbon
NEW DELHI:The Department of Company Affairs (DCA) has ordered prosecutions against Kolkata-based India Carbon Ltd and its directors/officers for excess transfer of profits to reserves and not intimating the shareholders about the transfer of unpaid divid end to the General Reserve Account of the Central Government.

ISO 14001 for Chennai Petro unit
CHENNAI:Chennai Petroleum Corporation Ltd's (CPCL) Manali Refinery has been awarded the ISO 14001 certification by Bureau Veritas Quality International for compliance with `environmental management system' for refining crude oil and producing petroleum p roducts.

HLL's new Executive Director (Research)
MUMBAI:Hindustan Lever Ltd (HLL) has appointed Dr A.S. Abhiraman of Georgia Institute of Technology, US, as Executive Director-Research.

BIFR show-cause for winding up Hyderabad Lamps
THE Board for Industrial and Financial Reconstruction (BIFR) has directed for issuance of a show-cause notice (SCN) for winding up the ailing Hyderabad Lamps Ltd.

BSE warning to Century Consultants
MUMBAI:The Bombay Stock Exchange (BSE) has issued a warning to Century Consultants, a member of the stock exchange, and has asked it to report to the arbitration section of the bourse.

Patel Engg to allot 1:2 bonus shares
MUMBAI:The board of Patel Engineering Ltd has decided to allot one bonus share of Rs 5 each for every two shares held.

Bhor Ind to sell assets, brands to pay-off loans
AIMED at clearing the liabilities owed to financial institutions, banks and employees, Bhor Industries Ltd (BIL) has decided to sell its idle properties and some of the brands and trademarks for around Rs 29 crore.

Financial Performance
Amara Raja net, turnover rise
AMARA Raja Batteries has reported a higher turnover and net profit for the year ended March 31, 2001, as compared to the previous year. Buoyed by the sales of Amaron range of automotive batteries (which the company launched a little before the beginning of last year), the turnover increased to Rs 125.94 crore from Rs 108.15 crore in the previous year.

Rural Electrification Corpn net up 7% at Rs 337 crore
RURAL Electrification Corporation Ltd (RECL) has posted a net profit of Rs 337 crore during fiscal 2000-2001, up 6.98 per cent from Rs 315 crore recorded during 2000-2001.

1:1 bonus from Monsanto India
THE board of directors of Monsanto India Ltd has recommended issue of one bonus share for every equity share held in the company; it has also recommended a dividend of Rs 10 per share for the year ended March 31, 2001.

Kinetic Engg, Motor post higher net
PUNE: Kinetic group companies, Kinetic Engineering Ltd (KEL) and Kinetic Motor Company Ltd (KMCL), have posted a growth in revenues, net profit, earnings per share and exports for the financial year ended March 31, 2001, as compared to the previous year.

Kinetic Engg: The `challenge' ahead
TWO-WHEELER manufacturer, Kinetic Engineering, has reported a relatively flat trend in performance for the year ended March 2001. The turnover increased by 20 per cent to Rs 357.52 crore while the post-tax earnings inched up by about 10 per cent to Rs 16 .58 crore.

Narmada Cement prunes net loss
MUMBAI: Narmada Cement Company Ltd, a subsidiary of Larsen & Toubro Ltd, has reported a net loss of Rs 20.54 crore for the year ended March 31, 2001 as compared to a net loss of Rs 22.77 crore in the previous year. Total income was Rs 206.46 crore (Rs 18 0.70 crore).

Ind-Swift Lab turnover up 34 per cent
NEW DELHI: Ind-Swift Laboratories Ltd, the Chandigarh-based Ind-Swift group company, has registered a turnover of Rs 92.30 crore for the year ended March 31, 2001, up 34.33 per cent over the previous year.

Sun Pharma shares up on Caraco hopes
SHARES of Mumbai-based pharma major, Sun Pharmaceuticals Ltd, have been heading northwards, gaining 12 per cent over the last 23 days on the Bombay Stock Exchange (BSE).

GlobalPharma to begin production by year-end
GLOBALPHARMA, the joint venture pharmaceuticals manufacturing company between India's Kopran and Dubai Investments, plans to start commercial production by the year-end and is targeting the international market for its products, according to a senior com pany official.

Indo Rama sees increase in export of man-made textiles
INDO Rama Synthetics (India) Ltd (IRSL) has said that it would be able to maintain the export growth recorded by the company during fiscal 2000-01 in the current year as well despite the declining export realisations resulting out of stiffer competition in some of its export markets.

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