UTI to retire senior executives
Mumbai: The Unit Trust of India (UTI) on Friday served retirement notices to seven senior executives of the trust including executive director KG Vassal.
Other top officials served the notice include PC Gupta, chief general manager, AG Joshi, general manager, senior executives SS Hegde, TK Das, SS Ratra and RH Thate.
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Hyundai profits up 30%
New Delhi: Hyundai Motor India has increased both its profit and sales turnover by 30 per cent for the year ended March 31, 2001.

The companys gross profits were Rs 85-87 crore during 2000-01. The sales turnover has jumped to Rs 3,059 crore from Rs 2,353 crore during 1999-2000 while profits grew from Rs 67 crore in the previous fiscal, its first full year of operations.
The company, a fully-owned subsidiary of South Korea's largest car maker Hyundai Motor, increased its car sales by 15.3 per cent to 86,949 cars during 2000-01 from 75,409 cars in the previous financial year.
During April-September this fiscal, the company, which has become India's second largest car maker, sold 45,834 cars, including 301 units of luxury sedan 'Sonata' that was launched in late-July.
Last year, Hyundai India had invested $ 30 million to add a new assembly line and do other tooling works to manufacture 'Sonata' at its plant near Chennai.
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Singhanias hike stake in Raymond
New Delhi: The Singhanias' stake in textiles and apparel giant Raymond Limited has crossed 30 per cent after the equity buyback was completed earlier this year. Raymond's equity share capital stands at Rs 61.38 crore.
The company invested Rs 186 crore in the buyback concluded in March at Rs 160 per share.
While resident individuals held 28.35 per cent stake in Raymond as on March 31 this year, financial institutions held 26.18 per cent and domestic companies 32.14 per cent.
Foreign Institutional Investors (FIIs) hold 6.25 per cent and Overseas Corporate Bodies another 4.09 per cent.
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Dr Reddys launches healthcare portal
Hyderabad: Pharma major Dr Reddys Laboratories Ltd, launched on Saturday Livizi.com, a content rich portal with features that transgress the whole gamut of health.
Addressing a press conference, managing director and chief operating officer Satish Reddy said, Livizi is not a dotcom company. It is more of a holistic approach towards health covering physiological, psychological, social and spiritual aspects of health.

It has the distinction of being Indias first and only portal presenting the content in 10 regional languages apart from English.
Livizi.com has such interactive features as Ask An Expert, Kaun Banega Arogyapati (KBA) and e-consultation, which help people to understand health. Specialists from different fields of medicine will contribute articles and also provide online consultation on topics ranging from nutrition, fitness, yoga, herbs and stress management.
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Qualis sales target scaled down
Bangalore: Toyota Kirloskar Motor Ltd (TKML) has scaled down the sales target for its multi utility vehicle Qualis by 4,000 units in India this calendar year.
The company took the step in view of the slowing down of the automotive industry, which had further been hit in the aftermath of the September 11 terror strikes in the US.

In the calendar year 2000, TKML sold 21,785 units of Qualis.
The company hopes to sell 30,000-31,000 units in 2001, maintaining 42 per cent market share.
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B4U Music to go pay in UK
Mumbai: B4U Music will go pay in the UK within two months and will be offered as a package with Sony Entertainment Television and B4U Movies.
Sony and B4U Movies have also entered into a joint pricing agreement in Europe. B4U has just signed up with Casema to be on the cable network and will start operations in November. B4U will launch operations in Australia and New Zealand by December-end. B4U is in negotiations with distribution companies to launch its channels in Latin America and South East Asia. In the Middle East, B4U is being made available in three bouquets.
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Tata-Hughes Tele to take over all Tata basic ops
Mumbai: Tata-Hughes Tele.com <http://www.tele.com>, which operates basic services in Maharashtra and Goa, and the Andhra Pradesh may eventually encompass all basic service operations of the Tata Group. This would include the four other circles in which Tata Teleservices has licenses to operate basic services. These are Delhi, Karnataka, Gujarat and Tamil Nadu.
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Cipla Q2 net up 17 per cent
Mumbai: Cipla on Saturday reported net profits for the three months to September rose 17 per cent year-on-year as exports jumped but the results were below most analysts' expectations.

Cipla, which is India's third largest drug maker by market share, said net profit grew to 604.3 million rupees from 517.3 million a year earlier on sales that rose 25 per cent to 3.37 billion rupees.
Cipla shares gained 1.68 per cent on Friday to close at 1,154.90 rupees while the Bombay index gained 1.19 per cent.
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Bharat Forge net profit falls 81 pc
Pune: Bharat Forge Ltd, the Pune-based forgings and auto components major, reported a 16 per cent drop in revenue and 81 per cent drop in net profits for the second quarter ended September 30, 2001 in comparison to the corresponding quarter last year.

While revenue dropped from Rs 131.99 crore to Rs 110.24 crore, net profit dropped to Rs 2.55 crore from Rs 13.39 crore in Q2 last year. Profit before interest, depreciation, and tax also dropped from Rs 37.30 crore to Rs 26.05 crore.

Demand for the company's products has been flat. The company doesn't expect any immediate significant change in this pattern.
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Finolex Cables net down
Mumbai: Finolex Cables Ltd has reported a 66.6 per cent decline in net profit at Rs 8.37 crore for the quarter ended September 30, 2001 as compared to Rs 25.09 crore in the year-ago period. Total Income has decreased from Rs 176.06 crore in the year- ago quarter to Rs 73.91 crore.

In the communication cable segment, the sales were affected on account of delayed finalisation of order by Bharat Sanchar Nigam Limited (BSNL) for supply of jelly filled telephone cables (JFTC), for the current year. No shipments of JFTC could take place during the current period against the order for the year 2001-02.

The company's board has approved the purchase of 51 per cent in Finolex Technologies Ltd in order to make it a wholly owned subsidiary. Currently, the company holds 49 per cent of the equity of Finolex Technologies Ltd (FTL) which is engaged in the manufacture of optic fibre cables (OFC).
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Apollo to merge Mumbai clinic with the parent
Chennai: Apollo Hospitals plans to merge Apollo Clinic in Mumbai with the holding company, Apollo Hospitals Enterprises Ltd (AHEL) so that it is not mistaken by customers for the Apollo Lifestyle Centres, which are being set up all over the country in the coming months.

Apollo Clinic in Mumbai was set up as an independent entity in the hope that the group would be able to find a local partner to convert it into a hospital. However, since the search for the partner was not successful, it was decided to merge the clinic with the group.
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Tata Coffee may merge Conscofe with itself
Kolkata: Tata Coffee, a subsidiary of Tata Tea, is likely to merge its wholly owned investment subsidiary, Conscofe Investments, with itself. The investment subsidiaries will be merged with the commercial organisations to save on the dividend tax.

Bambino Investment and Trading Company was merged with Tata Tea, last month.

The merger is likely to shore up Tata Tea's reserves as Bambino is sitting on reserves of more than Rs 100 crore.
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