Zuari-Italia to acquire Vishnu Cements
Mumbai: Zuari Italia Cementi, the joint venture entity between Zuari Cements Ltd and Italian Cement major Italia Cementi, is all set to takeover India Cements Ltds 1.2 million tonne Vishnu Cements Ltd in Andhra Pradesh.

Sources said an understanding has been reached between both the companies for selling Vishnu Cements at $90 per tonne. The sale is expected to fetch around Rs 508 crore for India Cements.
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Mittals to reduce stake in Bharti Televentures
Mumbai: The Mittals, promoters of telecom giant Bharti Group, will reduce their stake in Bharti Televentures marginally by three per cent to 51 per cent from the present 54 per cent after their IPO to raise around Rs 1,000 crore.

Bharti Televentures is the holding company of all the cellular operations of the Delhi-based Bharti Group. According to Sunil Bharti Mittal, Bharti Group chairman, the other shareholders in the holding company, Singapore Telecom and Warburg Pincus, will also reduce their stake marginally to 16 per cent and 17 per cent respectively.
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Deepak Fertiliser's net down in H1
New Delhi: Deepak Fertlisers's net profit has marginally gone down to Rs 27.50 crore in the first half of the current financial year compared to Rs 29.32 crore in the corresponding period last year.

Sales of the company went up to Rs 282.74 crore for the half year ended September 30, 2001 as against Rs 253.73 crore in the same period last year.

Shortage of gas largely affected the production of ammonia and methanol.
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Amway India sales up 100%
Pune: Amway India, the country's largest direct-selling company, recorded a 100-plus per cent rise in its turnover at Rs 553 crore for the fiscal year ended August 2001.

The direct-selling company clocked a turnover of Rs 250 crore in 1999-2000.

According to Amway managing director, William S Pinckney, "This is the third year (2000-01) in succession that Amway recorded over-100 per cent growth. We have always been convinced about the tremendous potential of the Indian market and enterprising skills of the people."
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Britannia profit up 19%
Mumbai: Britannia Industries has reported a net profit of Rs 25.3 crore for the quarter ended September 30, 2001, up 19 per cent from Rs 21.3 crore in the corresponding previous period, on the back of higher sales, cost savings and improvement in productivity.

Profit before taxation and exceptional items for the quarter increased by 22 per cent to Rs 30.5 crore, from Rs 24.9 crore.
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Mohta Group buys Hotel Highgates
Bangalore: The Mohta Group of West Bengal has bought Hotel Highgates on Church Street in Bangalore for Rs 14 crore.

The Mohta Group has chemical units and tea plantations in West Bengal. The Kolkata-based group has applied for Income Tax clearance under Section 37-I.

Highgates, a 40-bed hotel in the central business district on Church Street, is built on 8,000 sq ft. The group plans to expand it to 60 beds by demolishing the front portion the building which measures 21,000 sq ft.
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