Business Line articles from January 2000

Business Line archives from January 2000

India: 'Emerging Technologies Fund' soon from Sun F&C.
January 31, 2000... Our Bureau AHMEDABAD, Jan. 30 SUN F&C Mutual Fund will soon be launching an 'Emerging Technologies Fund' which will focus on investment in knowledge- based companies. The new fund, which will be launched on February 4, is expected...

India: Panel to meet today on repos market norms.
January 31, 2000... Our Bureau NEW DELHI, Jan. 30 THE high-level committee on capital markets (HLC) headed by the RBI Governor, Dr. Bimal Jalan, will meet on Monday to take a final view on the ground rules for widening the market for repurchase...

India: Countervailing duty on imported FMCG likely.
January 31, 2000... Hema Ramakrishnan NEW DELHI, Jan. 30 THE Finance Ministry is considering clamping countervailing duties (CVD) on a host of imported fast-moving consumer goods (FMCG) based on their maximum retail prices (MRP) valuation in the...

India: End in sight for L'il dilemma.
January 31, 2000... Shyam G. Menon MUMBAI, Jan. 30 L'IL - the 600 cc small car, unveiled by city-based Dilip Chhabria Design (Automotive) Pvt. Ltd (DC) at the recent Auto Expo 2000 in New Delhi, has the Rs. 6 crore-company at the cross- roads. "We...

India: Essar Oil Q3 net up.
January 31, 2000... Our Bureau MUMBAI, Jan. 30 ESSAR Oil Ltd has registered a 204 per cent increase in its net profit at Rs. 13.73 crores for the third quarter ended December 31, 1999, as against Rs. 4.51 crores in the corresponding period last year....

Aluminium: A strong funda'metal'.
January 31, 2000... ALUMINIUM prices have been on a roll at the London Metal Exchange (LME). The prices soared to a 29-month high at the LME in the third week of January on the back of bullish buying by investment funds. At the current levels of $ 1,700- 1,725...

India: RPG Life Q3 net at Rs 1 cr.
January 31, 2000... MUMBAI: RPG Life Sciences Ltd has announced a net profit of Rs. 1 crore for the third quarter ended December 31, 1999 as against Rs. 99 lakhs in the corresponding quarter. Sales fell to Rs. 45.74 crores (Rs. 48.74 crore) and other income...

India: SICAL net sales, profit drop.
January 31, 2000... CHENNAI: South India Corporation (Agencies) Ltd (SICAL) has reported a drop in both net sales/income from operations and net profit for the quarter ended December 31, 1999 over the corresponding period the previous year. While net...

India: Morepen Labs net up 43%.
January 31, 2000... NEW DELHI: Morepen Laboratories Ltd has registered an increase of 43 per cent in net profit at Rs. 12.4 crores and 30 per cent increase in sales turnover at Rs. 84.7 crores for the third quarter ended December 31, 1999. For the nine...

India: Astra-IDL.
January 31, 2000... BANGALORE: Astra-IDL has posted higher sales of Rs. 27.24 crores (Rs. 26.10 crores) for the quarter ended December 31, 1999. Gross profit moved up to Rs. 5.61 crores (Rs. 4.69 crores). The net profit rose to Rs. 2.40 crores (Rs. 2.34...

India: Rajesh Exports.
January 31, 2000... BANGALORE: Rajesh Exports, a Bangalore-based jewellery exports company, has achieved a higher net profit of Rs. 3.76 crores for the third quarter of the current fiscal, a growth of 76 per cent over the previous corresponding period (Rs. 2.13...

India Nippon Electricals.
January 31, 2000... CHENNAI: India Nippon Electricals Ltd has reported a net profit of Rs. 3.03 crores for the quarter ended December 31, 1999, compared to Rs. 2.61 crores for the corresponding quarter of the previous year. Net sales were Rs. 24.76 crores (Rs....

India: Shanthi Gears.
January 31, 2000... COIMBATORE: Shanthi Gears Ltd has recorded a 22 per cent rise in net profit for the quarter ending December 31, 1999 at Rs. 1.36 crores (Rs. 1.11 crores). Net sales for the third quarter of 1999-2000 went up by 11 per cent to Rs. 10.09...

India: Results: Mahavir Spinning net drops to Rs 14.79 cr.
January 31, 2000... NEW DELHI: Mahavir Spinning Mills Ltd (MSML) has reported net profit of Rs. 14.79 crores on net sales of Rs. 175.17 crores for the quarter ended December 31, 1999 as compared to net profit of Rs. 15.81 crores on net sales of Rs. 154.47 crores...

India: Changes in Bombay Stock Exchange indices.
January 31, 2000... Our Bureau MUMBAI, Jan. 30 THE Bombay Stock Exchange in a release has said Sun Pharmaceutical Industries, Morepen Laboratories and Lupin Chemicals would become part of the baskets of BSE 100, BSE 200 & BSE 500 indices respectively....

India: Bharat Heavy Electricals bags order for recovery boiler.
January 31, 2000... Our Bureau NEW DELHI, Jan. 30 BHARAT Heavy Electricals Ltd (BHEL) has bagged an order from West Coast Paper Mills Ltd (WCPML) for a large-size chemical recovery boiler for the latter's Dandeli project in Dharwad district, Karnataka,...

Results: Rajasthan Spinning.
January 31, 2000... Rajasthan Spinning & Weaving Mills Ltd (RSWML) has reported a net profit of Rs. 4.69 crores for the third quarter ended December 31, 1999 as against a net loss of Rs. 1.68 crores recorded in the corresponding previous period. Net sales...

Results: Vardhman Spinning.
January 31, 2000... Vardhman Spinning & General Mills Ltd (VSGML) has reported net profit of Rs. 10.01 crores on net sales of Rs. 111.86 crores during the three-month period ended December 31, 1999 as compared to net profit of Rs. 12.05 crores on net sales of...

Results: BSL.
January 31, 2000... BSL Ltd has reported net profit of Rs. 3.51 crores on net sales of Rs. 113.22 crores for the nine-month period ended December 31, 1999 as compared to net profit of Rs. 2.86 crores on net sales of Rs. 110.54 crores recorded in the same period...

India: Gangotri Textiles.
January 31, 2000... COIMBATORE: Gangotri Textiles Ltd's net profit soared to Rs. 1.17 crores for the quarter ended December 1999 (about Rs. 0.29 crores). The turnover increased by Rs. 4.30 crores to Rs. 27.78 crores (Rs. 23.48 crores). - Our Bureaus

India: Textile exports looking up.
January 31, 2000... G. Srinivasan NEW DELHI, Jan. 30 THE country's textile exports registered three per cent growth at $7,974.1 millions in the first three quarters of the current fiscal as compared to $7,739 millions in April-December 1998, kindling...

India: Synthetic textile exports up 13 pc.
January 31, 2000... Our Bureau MUMBAI, Jan. 30 EXPORTS of synthetic and rayon textiles during the current year (1999-2000) are expected to touch Rs. 4,600 crores, 13 per cent up from the previous year's exports of Rs. 4,068 crores, the Union Minister...

India: Response sought on non-veg food label.
January 31, 2000... Our Bureau NEW DELHI, Jan. 30 THE Union Government has issued a Gazette notification dated January 5, inviting objections and suggestions from the public, within 60 days from the date of publication, seeking to define what...

India: Economist backs PSU divestment.
January 31, 2000... Our Bureau THIRUVANANTHAPURAM, Jan. 30 ECONOMIST Dr. K.N. Raj has supported the Centre's move for disinvestment in some of the public sector undertakings in the country. At a meet-the-press programme, Dr. Raj, who has been...

India: Uniform duty on spun yarns urged.
January 31, 2000... Our Bureau MUMBAI, Jan. 30 THE Indian Spinners' Association has urged the Government to introduce a uniform duty structure for all spun yarns - cotton, blended and synthetic. "The discriminatory excise duty policy is a major...

India: Bid for South African funds for coal sector.
January 31, 2000... Our Bureau CALCUTTA, Jan. 30 IN a move that may help strengthen bilateral economic relations between India and South Africa, the Union Mines and Minerals Ministry has taken the initiative to attract private investment from South...

India: GMI keeps options on float open.
January 31, 2000... Our Bureau MUMBAI, Jan. 30 GENERAL Motors India Ltd (GMI), manufacturers of the Opel Astra and Opel Corsa cars, has closely tracked the success of the group company, Hughes Software's, IPO. Mr. Richard C. Swando, President and...

Hijack cost Indian Airlines Rs 10.5 cr.
January 31, 2000... Ashwini Phadnis NEW DELHI, Jan. 30 INDIAN Airlines was forced to incur an expenditure of about Rs. 10.5 crores during the week-long hijacking of its Airbus A-300 aircraft, according to an internal analysis conducted by the airline....

Indian Airlines disinvestment plan Implications for the acquirer.
January 31, 2000... Shyam G. Menon THE Government's decision to divest 51 per cent equity of the state-owned Indian Airlines (IA) may, if nothing else, provide momentum to PSU disinvestment. But it is a moot question whether, for an acquirer, the...

High tide for oil prices.
January 31, 2000... DARE we suggest that oil prices may have already, or are about to reach their peak. The way the price of Brent and the other market crudes responded to the surprise revelation that commercially-held stocks of crude oil, distillates and...

Trimming workforce flab Key to successful privatisation.
January 31, 2000... N. K. Kurup God, give me courage to change the things I can; Patience to accept things I cannot, And the wisdom to know the difference! EMPLOYEES of Indian Airlines and other public sector undertakings (PSUs) who oppose...

FedEx system keeps tabs on inventory.
January 31, 2000... LIKE many companies, until recently, Heidelberg, a leading manufacturer of printing presses, managed its inventory for new equipment and spare parts through multiple locations on a regional basis. Heidelberg's customers use its printing...

Unions worked up over labour-use issue.
January 31, 2000... P. Manoj THE workers' unions at Kandla port have threatened to stop operations of the port if the management goes ahead with its plan to allow P&O Ports, the private foreign operator selected for developing a container terminal at berth...

SER: On track to provide logistics solutions.
January 31, 2000... Santanu Sanyal THE SOUTH Eastern Railway (SER), which accounts for 40 per cent of the originating freight traffic and more than 25 per cent of the originating freight earnings of the Indian Railways, is working on a multi-point strategy...

INDIA: Minimising industrial waste in paper mills stressed.
January 31, 2000... Our Bureau COIMBATORE, Jan. 30 WASTE minimisation could go a long way in effectively conserving the resources, besides improving profitability and protecting the environment, Dr. G.V. Subrahmanyam, Ministry of Environment and...

INDIA-ANDHRA PRADESH: Global Trust opens corporate treasury.
January 31, 2000... HYDERABAD: Global Trust Bank (GTB) has opened its corporate treasury here with a view of enabling its Andhra Pradesh-based corporate clients to benefit from the availability of foreign exchange risk management expertise. The dealing room...

INDIA-MAHARASHTRA: Transport undertakings' net loss at Rs 630 cr.
January 31, 2000... PUNE: A net loss of Rs. 630.09 crores has been incurred by the State Transport Undertakings (STUs) for the quarter ended September 30, 1999. This has led to an increase in the net loss up to 17.27 per cent over the corresponding period last...

INDIA-TAMIL NADU: Noyyal polluted by dyeing effluents.
January 31, 2000... COIMBATORE: About 200 small and tiny dyeing units and a couple of bleaching units within Coimbatore town are said to discharge their untreated effluents into the River Noyyal and roadside gutters. Despite the public pressure and the voice...

India: Advanced Synergic, HAHT in pact.
January 31, 2000... BANGALORE: Bangalore-based Advanced Synergic Microsystems Ltd (ASML) and HAHT Asia have announced a development partnership in which Advanced Synergic will develop, deploy and manage Web-enabled applications with HAHTsite. HAHTsite, the...

India: SeraNova launches e-procurement unit.
January 31, 2000... HYDERABAD: SeraNova, the global Internet services unit of Intelligroup Inc, has launched its e-procurement solutions division designed to make a client's supply chain respond faster to demands and reduce operating costs. According to the...

India: Govt to involve private sector in IT education.
January 31, 2000... Our Bureau NEW DELHI, Jan. 30 THE Union Government is planning to rope in the private sector in a big way in its efforts to spread computer education across the country, said the Secretary, Ministry of Information Technology (MIT),...

India: Building industry portal.
January 31, 2000... Our Bureau HYDERABAD, Jan. 30 SPACE Matters Communications, a Hyderabad-based firm promoted by a group of architects, interior designers and software professionals, has developed Abide, an information bank for the construction...

India: E-governance at grassroots level.
January 31, 2000... Raja Simhan T.E. & Bharat Kumar CHENNAI, Jan. 30 ASK a common citizen like Anurag Mathur what he thinks of e-governance and you will find him cynical - and, it is probably a reflection of common public opinion. "Over the years, our...

India: Synergy Log-In Q2 net at Rs 51 lakhs.
January 31, 2000... Our Bureau CHENNAI, Jan. 30 SYNERGY Log-In Systems Ltd has reported a net profit of Rs. 51.53 lakhs for the second quarter ended December 31, 1999, compared to Rs. 5.11 lakhs for the same quarter the previous year. Total income...

India: Magna launches DSL Net service.
January 31, 2000... Our Bureau NEW DELHI, Jan. 30 MAGNA Corp India Ltd (MCIL) has launched here a high-speed Internet service, DataTaps.com, using digital subscriber line (DSL) technology. The service is aimed at corporates and business places and will...

India: Mednet solution for healthcare industry.
January 31, 2000... Our Bureau HYDERABAD, Jan. 30 CONVERGENCE of medicine and information technology is the emerging frontier in healthcare delivery systems. To meet the challenges of the new medicare scenario especially with the opening up of the...

India: WEF award for Satyam.
January 31, 2000... Our Bureau HYDERABAD, Jan. 30 SATYAM Computer Services Ltd has been identified by the Switzerland-based World Economic Forum (WEF) as one of the 100 leading pioneering technology companies that are at the forefront of the knowledge...

India: R.S. Software, Hanover set up Desius.
January 31, 2000... Our Bureau CALCUTTA, Jan. 30 R.S. Software India Ltd and Hanover Direct of the US have set up a joint venture to capitalise on the growth opportunities in the global e-commerce business. Christened Desius, the new entity would offer...

India: Global coarse grains output may decline.
January 31, 2000... G. Chandrashekhar MUMBAI, Jan. 30 WORLD wheat and coarse grains production is forecast to decline by over 20 million tonnes in 1999-2000 following lower production prospects in Europe, North and Central America as also near East...

India: Raw rice gains.
January 31, 2000... CHENNAI: In the city rice market, raw rice Swarna (new) and Andhra I.E.T. (2508) were costlier by Rs. 20 at Rs. 1,080 to Rs. 1,120 and by Rs. 50 at Rs. 1,100 to Rs. 1,150 per quintal, respectively. In pulses, Bengalgram dhal flared up by...

India, Mongolia sign pact.
January 31, 2000... Our Bureau NEW DELHI, Jan. 30 INDIA and Mongolia on Friday signed a Work Plan for exchange of seed samples, scientific and technical information and training-cum-study visits, which would be effective till December 31, 2005. As...

India: Marine exports dull.
January 31, 2000... Our Bureau KOCHI, Jan. 30 WITH hardly any growth in marine exports during the current year, the overall export performance of the sector continues to be dull. Instead, there had been a decline of more than 10 per cent in marine...

India: Maharashtra may better Kerala in cashew output.
January 31, 2000... G.K. Nair KOCHI, Jan. 30 MAHARASHTRA, with an estimated projection of 1.5 lakh tonnes of raw cashew nuts, is set to break the monopoly of Kerala in cashew production in the country. The State, which went in a big way for cashew...

India: Foundation to help small farmers.
January 31, 2000... Our Bureau CHENNAI, Jan. 30 AGRO-INDUSTRIES Foundation (AIF), a non-profit organisation to help small farmers exploit benefits of modern technologies, has been promoted by Mr. C. Subramaniam, former Maharashtra Governor. ...

India: Parry Agro net profit dips.
January 31, 2000... CHENNAI: Parry Agro Industries Ltd. reported a net profit of Rs. 6.10 crores on a sales of Rs. 67.59 crores for the nine months ended December 31, 1999. This represents a 15 per cent dip in net profit when compared to the corresponding...

India: Saptarishi Agro Industries Ltd.
January 31, 2000... CHENNAI: Saptarishi Agro Industries Ltd., has reported a loss after tax of Rs. 4.50 crores on a sales of Rs. 2.98 crores during the nine months ended December 31, 1999. During the corresponding period previously, the company reported a...

SKM Egg Products Export (India) Ltd.
January 31, 2000... CHENNAI: SKM Egg Products Export (India) Ltd reported a net loss of Rs. 1.33 crores on a gross sales of Rs. 3.11 crores during the quarter ended December 31, 1999 as against a net loss of Rs. 27.58 lakhs on a gross sales of Rs. 4.35 crores in...

India: Tyford Tea Ltd.
January 31, 2000... CHENNAI: Tyford Tea Ltd. has registered a net profit of Rs. 17.83 lakhs in the third quarter of 1999-2000 as against a net loss of Rs. 25.74 lakhs in the last year. The turnover increased to Rs. 1.33 crores (Rs. 65.97 lakhs), total...

Indian Food Fermentations Ltd.
January 31, 2000... CHENNAI:Indian Food Fermentations Ltd., reported a net loss of Rs. 77.07 lakhs on a net sales of Rs. 51.64 lakhs during the quarter ended December 31, 1999. During the corresponding quarter previously, the company reported a net loss of Rs....

India: Empee Sugars and Chemicals Ltd.
January 31, 2000... CHENNAI: Empee Sugars and Chemicals Ltd. had reported a net profit of Rs. 1.07 crores on a net sales of Rs. 8.76 crores during the quarter ended December 31, 1999. During the corresponding period last year, the company reported a net loss of...

India: M.M. Rubber.
January 31, 2000... CHENNAI: M.M. Rubber Company Ltd. reported a net loss of Rs. 47.81 lakhs on a net sales of Rs. 6.59 crores during the quarter ended December 31, 1999. Comparatively, the company reported a net profit of Rs. 7.68 lakhs on a net sales of...

India: Leather fair begins today.
January 31, 2000... Our Bureau CHENNAI, Jan. 30 THE annual India International Leather Fair (IILF) begins here on Monday with 380 participants, including 120 from other countries. The fair, being held for the 15th consecutive year, will be spread over...

Unit Trust of India business in Gulf region spurts in H1.
January 31, 2000... Vimala Vasan ABU DHABI, Jan. 30 UNIT Trust of India has recorded a big jump in business in the Gulf region with Rs. 130 crores registered in the first six months (July to December) of the current fiscal, compared to a total of Rs....

India: 'A third cos amendment Bill might be required'.
January 31, 2000... Mohan Padmanabhan CALCUTTA, Jan. 30 ONCE the short Companies (Second Amendment) Bill, 1999, introduced in the Lok Sabha on December 23, 1999, is passed in the Budget session (around the first week of March 2000), a definite view may...

India: sales tax exemption for TV chassis Hotline Wittis seeks FIPB nod.
January 31, 2000... Partha Ghosh NEW DELHI, Jan. 30 HOTLINE Wittis Display Devices (HWDD), a joint venture between the Hotline group and Wittis of Hong Kong, has approached the Government to include television chassis as an item being manufactured by...

India: Budget on February 29.
January 31, 2000... Our Bureau NEW DELHI, Jan. 29 THE new millennium's first Budget session of Parliament will be convened from February 23. The session will stretch till May 17 and will witness, among others, the presentation of the 2000-01 Union...

India: Modi Rubber: FIs against conditional offers.
January 31, 2000... Our Bureau NEW DELHI, Jan. 29 FINANCIAL institutions have indicated that they will not accept the conditional offers for acquiring the shares in Modi Rubber Ltd made by a couple of tyre majors. After the institutional investors...

Infosys Tech: Good medium-term outlook.
January 31, 2000... AT the current market price of Rs. 7,550 (post 2-for-1 stock split), the Infosys Technologies stock holds upside potential for investors with a medium-term perspective. The stock has appreciated by around 6 per cent in the four trading days...

India: SAIL Q3 loss at Rs 701 cr.
January 31, 2000... Our Bureau NEW DELHI, Jan. 29 STEEL Authority of India Ltd (SAIL) has registered a loss of Rs. 701 crores for the third quarter of the current fiscal ended December 31, 1999. According to an official release, with this, the...

India: SHCIL all set for Net trading.
January 31, 2000... Our Bureau MUMBAI, Jan. 29 STOCK Holding Corporation of India Ltd (SHCIL) today said that it is all set to commence trading of shares through the Internet. Its "stock direct" facility envisages combining the investor's bank,...

India: Geojit Securities first off the block.
January 31, 2000... Our Bureau KOCHI, Jan. 29 THE country will witness its first capital market transaction through the Internet on February 1 at 2.30 p.m. The Chairman of SEBI, Mr. D.R. Mehta, will formally launch Internet trading on the Geojit...

India: SICAL to undertake capital revamp.
January 31, 2000... Our Bureau CHENNAI, Jan. 29 SOUTH India Corporation (Agencies) Ltd (SICAL), the MAC group company, has undertaken a capital restructuring exercise to bring down its debt-equity ratio. At the same time, the company says it will make...

India: Toyota talks of next offering.
January 31, 2000... Our Bureau MUMBAI, Jan. 29 TOYOTA Kirloskar Motor Ltd (TKM), which makes the Qualis multi-purpose vehicle, has commenced market studies for its next line of products for the Indian market, Mr. Sachio Yamazaki, Managing Director,...

India: WTO panel on dumping dispute.
January 31, 2000... Our Bureau NEW DELHI, Jan. 29 IN deference to the plea by India on January 12, the Director-General of the World Trade Organisation, Mr. Mike Moore, has appointed the panelists for mediating the dispute between India and the EU over...

India: Pfizer net rises 146 pc.
January 31, 2000... Our Bureau MUMBAI, Jan. 29 THE net profit of Pfizer Ltd has increased by 146 per cent to Rs. 30.93 crores in the year ended November 30, 1999 as against Rs. 12.58 crores in the corresponding period last year, a press release by the...

India: ISO 14001 for FACT petrochem unit.
January 31, 2000... NEW DELHI: The Petrochemical division of the Fertilisers and Chemicals Travancore (FACT), a Government of India enterprise, has been awarded the ISO 14001 certification in recognition of its environmental management system. The Dutch...

India: Milton Exports reports 35 pc growth.
January 31, 2000... MUMBAI: Milton Exports has reported a 35 per cent increase in exports this year to Rs. 26 crores from last year's Rs. 19 crores. Milton Exports, a subsidiary of Milton Plastics Ltd, had earlier reported a growth of eight per cent in...

India: Tamilnadu Telecom to pay 5 pc maiden interim.
January 31, 2000... Our Bureau CHENNAI, Jan. 29 TAMILNADU Telecommunications Ltd (TTL) has declared a maiden interim dividend of five per cent, as the company closed its nine-month period ended December 31, 1999 with a net profit of Rs. 2.12 crores on a...

India: Adani Exports net rises to Rs 13 cr.
January 31, 2000... AHMEDABAD: Adani Exports Ltd (AEL) has returned a net profit of Rs. 13.03 crores for the quarter ended December 31, compared to Rs. 6.09 crores during the same period last year. The flagship company of the Rs. 2,700-crore group and the...

India: Results: Spic Organics.
January 31, 2000... CHENNAI: Spic Organics Ltd has reported a net profit of Rs. 1.11 crores for the quarter ended December 31, compared to a net loss of Rs. 1.38 crores during the same period last year. Net sales rose to Rs. 25.76 crores from Rs. 19.65 crores....

India: Results: Neuland Labs.
January 31, 2000... HYDERABAD: Neuland Laboratories Ltd (NLL) has achieved a sales turnover of Rs. 19.89 crores (Rs. 15.41 crores) for the third quarter ended December 31. Other income was Rs. 8.75 lakhs (Rs. 4.02 lakhs) and pre-tax profit stood at Rs....

India: Results: Nagarjuna Construction.
January 31, 2000... HYDERABAD: Nagarjuna Construction Company Ltd has achieved a turnover of Rs. 50.88 crores and a net profit of Rs. 2.74 crores during the third quarter of the current fiscal. For the first nine months, the company has recorded a turnover...

India: Results: Super Spinning.
January 31, 2000... COIMBATORE: Super Spinning Mills Ltd (SSPL) has more than doubled its net profit in the third quarter of the current fiscal aided by a near 15 per cent jump in net sales. The other income dropped steeply. Interest charges, depreciation...

India: Results: Binny declares Rs 5.37-crore net profit.
January 31, 2000... CHENNAI: Binny Ltd has declared a net profit of Rs. 5.37 crores for the quarter ended December 31, 1999 as against the net loss of Rs. 5.49 crores for the corresponding period in the previous year. The company has a net sales of Rs. 6.96...