THE HINDU BUSINESS LINE
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Saturday, July 28, 2001

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Corporate

Automobiles


Yamaha Motor launches new bike
YAMAHA Motor India Ltd (YMIL), the wholly-owned subsidiary of Yamaha Motor Company of Japan, has launched a new 106cc, four-stroke motorcycle, in the form of an upgraded, redesigned version of its present 100cc bike - `Crux'.

Corporate
Boehringer and Scherring to sell German Remedies stake to Zydus
GERMAN companies, Boehringer Ingelheim AG and Scherring AG, are to sell their stake in German Remedies to Zydus Cadila. Both companies each hold about 4.62 per cent stake in German Remedies.

Phillips Carbon Kochi unit shut down
KOCHI: The 100-tonne per day Phillips Carbon Black unit at Kochi was shut down on Thursday after a large contingent of people in the vicinity stormed its gates alleging pollution from the factory premises.

Berger to brush more with automotive paints
BERGER Paints India Ltd has identified automotive paints as a thrust area, according to Mr K.S. Dhingra, Chairman of the company.

Prosecution in Amara Raja case
MUMBAI: The Securities & Exchange Board of India (SEBI) has launched criminal prosecution against Mr Harinarayan Bajaj and his son Rahul for creating artificial market in the shares of Amara Raja Batteries Ltd.

TTK-LIG delists from Madras SE
CHENNAI: TTK-LIG Ltd has delisted itself from the Madras Stock Exchange with effect from July 13, according to a company press release.

Vedika Securities offers new facility
KOLKATA: Vedika Securities, a depository participant, has offered a facility to investors wherein shares can be sold and the proceeds collected on the same day after market hours.

Great Eastern not hopeful of smooth sailing ahead
THE Great Eastern Shipping Co Ltd (Great Eastern) which reported on Thursday its highest ever quarterly net profit of Rs 61.70 crore, is ``unlikely'' to repeat the performance through the remaining part of the fiscal, Mr Bharat K. Sheth, Managing Directo r of the company said here today.

ECS to tap potential in life sciences
ECS Ltd, formerly known as Eicher Consultancy Services Ltd, a 50:50 joint venture of Eicher with the US-based management consultancy major, Strategic Decisions Group (SDG), plans to focus on extending its services to life sciences sector in India.

NIIT FII limit at 49%
FOREIGN institutional investors (FIIs) can now purchase equity shares and convertible debentures of NIIT Ltd up to 49 per cent of its paid-up capital through primary and secondary markets in the country under the Portfolio Investment Scheme, according to an RBI press release.

DCA orders inspection against 94 companies
THE Department of Company Affairs (DCA) has ordered inspection of books of accounts and other records of 94 companies based on the preliminary investigation report of the Securities and Exchange Board of India (SEBI) on price manipulation.

SRF board okays Tyrecord merger
THE board of directors of SRF Ltd on Thursday approved a restructuring scheme that envisages the merger of Tyrecord Fabrics Ltd (TFL), a 100 per cent subsidiary of SRF, with the company.

Jindal Aluminium refutes Govt clarification
JINDAL Aluminium today described the clarification of the Union Finance Ministry as incorrect and has maintained its stand on the issue of the revision of the import duty to 25 per cent being the decision of the present Government. The Government had reb utted the company's allegation of having increased the import duty on aluminium to favour a big company.

Godrej meet today to take up unit revamp
A MEETING of the board of directors of Godrej Industries Ltd is scheduled to be held on July 28 to consider a proposal to restructure Godrej Foods Ltd by demerging its manufacturing business into Godrej Industries Ltd. When contacted, company officials d eclined to provide details.

TI to sell cycle unit in Chennai
TUBE Investments of India Ltd proposes to sell off its cycle plant at Paruthipet, here. ``We have almost finalised the buyer,'' the company's Managing Director, Mr V.A. Raghu, told Business Line. He, however, did not want to divulge the name of the buyer .

Financial Performance
Colgate-Palmolive net up 18% in Q1
MUMBAI: Colgate-Palmolive (India) Ltd has reported an 18 per cent increase in net profit at Rs 15.8 crore for the first quarter of 2001-2002 as compared to Rs 13.4 crore in the year-ago period.

ITC Bhadrachalam Q1 net declines
HYDERABAD: ITC Bhadrachalam Paperboards Ltd (ITC-BPL) has suffered a significant fall both in operating profit and net profit for the first quarter of current fiscal ended June 30, 2001 despite having achieved a marginal growth in total turnover.

Morepen Labs Q1 net up 11 pc
NEW DELHI: The turnover of Morepen Labs went up by 12.31 per cent during the first quarter of the current financial year to Rs 117.42 crore compared to Rs 104.55 crore in the previous quarter.

Novartis Q1 net dips
MUMBAI: Novartis India Ltd has reported a dip in net profit at Rs 9.15 crore in the first quarter ended June 30, 2001 as against Rs 10.15 crore in the corresponding period last year.

NMDC turnover, net up
HYDERABAD: National Mineral Development Corporation (NMDC) has posted a sales turnover of Rs 241.34 crore, other income of Rs 17.42 crore and a net profit of Rs 52.58 crore during the quarter ended June 30.

DSQ Biotech net loss at Rs 15.67 crore
CHENNAI: DSQ Biotech Ltd has reported a net loss of Rs 15.67 crore on a sales and income from operations of Rs 17.31 crore for the quarter ended June 30, 2001 against a profit of Rs 8.02 crore on a sales and income of Rs 27.62 crore, according to a compa ny press release. Interest was Rs 18 lakh (Rs 1 crore) and depreciation Rs 38 lakh (Rs 41 lakh).

Nava Bharat Q1 net doubles
HYDERABAD: Nava Bharat Ferro Alloys Ltd has posted a turnover of Rs 48.97 crore, other income of Rs 28.52 lakh and a net profit of Rs 3.06 crore during the first quarter of the current fiscal.

48 pc increase in BILT net
BALLARPUR Industries Ltd (BILT) has reported a 48 per cent increase in its net profit for the year ending June 2001 at Rs 101.28 crore as compared to Rs 68.04 crore achieved during the previous year.

ITW Signode net up
HYDERABAD: ITW Signode India Ltd, an industrial packaging solutions company, has earned a net profit of Rs 3.99 crore for the quarter ended June 30 as against Rs 3.82 crore netted for the corresponding period of the previous fiscal.

TNPL Q1 net up 25%
CHENNAI: Tamil Nadu Newsprint and Papers Ltd (TNPL) has reported a profit after tax of Rs 16.53 crore on a net sales of Rs 128.10 crore for the quarter ended June 30, 2001 against a profit after tax of Rs 13.23 crore on a net sales of Rs 128.96 crore dur ing the corresponding quarter in the previous year, according to a company press release.

Nicholas Piramal post-merger Q1 net at Rs 20.8 cr
THE post-merger net profit of Nicholas Piramal India Ltd, has amounted to Rs 20.85 crore for the first quarter ended June 30, 2001.

BHEL net loss at Rs 125 cr
NEW DELHI: Bharat Heavy Electricals Ltd (BHEL) has registered a net loss of Rs 125.18 crore on a net sales of Rs 963.56 crore for the quarter ended June 30. For the corresponding period last year, the company registered a net profit of Rs 2.02 crore on a net sales of Rs 931.11 crore.

Bharat Petroleum net up 18.8 pc
MUMBAI: Bharat Petroleum Corporation Ltd has posted a 18.8 per cent increase in net profit at Rs 222.9 crore for the quarter ended June 30, 2001 against Rs 187.6 crore in the year-ago period.

Tata Tea PAT at Rs 15.23 crore
TO enhance its presence in tea, Tata Tea Ltd (TTL) ``would like to try the same model'' as Tata Coffee's recent equity participation in Barista Coffee Company, Mr Homi Khusrokhan, Managing Director, TTL, said here on Friday.

BPL Sanyo still in red
BPL Sanyo Technologies managed to narrow the slide in its net loss only marginally during the first quarter of the current fiscal year as compared to the same period in 1999-2000. Its loss for the quarter was Rs 2 crore as compared to Rs 2.06 crore in th e same quarter, last year.

GE Shipping net soars to Rs 61.70 cr
MUMBAI: Great Eastern Shipping Company Ltd has reported the highest ever quarterly net profit of Rs 61.70 crore for the quarter ended June 30 as against Rs 48.52 crore in the year-ago period.

Indian Hotels net down 18 pc
INDIAN Hotels Company Ltd (IHCL) will spin off its air catering division into a separate company by September 30, 2001, to facilitate the proposed joint venture with Singapore Airport Terminal Services Ltd, Mr Zubin Dubash, Executive Director, IHCL, said here today.

J.K. Industries net down
NEW DELHI: J.K. Industries Ltd has reported a 62.18 per cent decline in net profit for the quarter ended June 30, 2001 to Rs 3.96 crore against a net profit of Rs 10.47 crore recorded in the same period the previous year. -- Our Bureau

Kakatiya Cement backs to black in Q1
HYDERABAD: Kakatiya Cement Sugar & Industry Ltd has posted a net profit of Rs 2.15 crores during the first quarter of the current fiscal as against a net loss of Rs 68.86 lakhs it had incurred during the corresponding period in the previous year. The com pany had posted a turnover of Rs 27.82 crores and other income of Rs 38.99 crores. As per the unaudited results, the company's basic and diluted earnings per share stood at Rs 2.91. -- Our Bureau

SKB Consumer: Truly healthy?
THE 20.8 per cent growth in net sales achieved by SmithKline Beecham Consumer Healthcare (SBCH) for the half year ended June 2001, may appear impressive, at a time when other fast moving consumer goods (FMCG) companies have been struggling to notch up si ngle digit growth rates.

Pentasoft Technologies income, net decline
PENTASOFT Technologies Ltd has posted a net profit of Rs 21 crore on a total income of Rs 116 crore for the quarter ended June 30, 2001. Income from software services and products accounted for Rs 114 crore - Rs 78.2 crore from overseas operations and Rs 35.8 crore from domestic operations.

PSU
HZL presents dividend cheque
NEW DELHI: Hindustan Zinc Ltd (HZL), a public sector undertaking, has declared Rs 52.82-crore dividend for the financial year 2000-2001.

PPCL unions want early restructure
WORKERS unions at the public sector Pyrites, Phosphates & Chemicals have urged the Government to undertake immediate restructuring of the company to restore viability.

HCI hive-off hinges on hotel sale prior to AI divestment
THE Government plans to hive off Hotel Corporation of India (HCI), the wholly-owned subsidiary of Air India (AI), in case the sale of the hotels is not completed ahead of the airline disinvestment.


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