Indo Gulf Q2 net rises 35% to Rs 103 crore
New Delhi: Indo Gulf Corporation Ltd has posted a 35 per cent increase in net profit for the second quarter ended September 30, 2002 at Rs 102.99 crore as against Rs 76.24 crore for the corresponding period previous fiscal.
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VSNL Q2 net down 33.27% to Rs 246 crore
Mumbai: Tata-owned telecom giant Videsh Sanchar Nigam Limited has reported a steep fall of 33.27 per cent in its net profit for the second quarter-ended September 30, 2002, as compared to the corresponding quarter of the previous year.
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Bharat Forge net up 580% to Rs 17 crore
Mumbai: Bharat Forge Ltd, the world’s second largest engine components manufacturer posted a net profit of Rs 17.35 crore for the quarter ended September 30, 2002, a jump of 580.39 per cent.
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Geometric Software posts 45% profit rise
Mumbai: Geometric Software Solutions’ consolidated net profit for the quarter ended 30 September 2002 has risen to Rs 4.52 crore, as compared to Rs 3.11 crore for the corresponding quarter last year, representing an increase of 45% in net profit.
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Panchayats, banks and NGOs can sell insurance
Mumbai: The government has notified major amendments to insurance laws, recognising banks, brokers and other entities like cooperatives, NGOs and panchayats as intermediaries who can sell insurance for a commission.
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Nalli: From soft wear to software
Chennai: One of India's oldest textile retailers, Nalli group has diversified for the first time since 1928. The Chennai-based group, known for its brand Nalli Silks, has quietly forayed into software business.
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Teleglobe's US bankruptcy filing to hit VSNL
New Delhi: The bankruptcy suffered by Canadian telecom major Teleglobe may affect VSNL’s revenues. Teleglobe has recently filed for Chapter 11 bankruptcy. Teleglobe is the second largest revenue generator for VSNL after MCI Worldcom, as India receives a huge chunk of its incoming calls from Canada.
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BSNL offer gets pvt cell firms' goat
New Delhi: Bharat Sanchar Nigam and private cellular operators are at loggerhead over BSNL's new cellular tariff structure that envisages free airtime for calls originating from BSNL fixed lines anywhere in the country.
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Bharti Cell plans to raise Rs 604 cr via 6-year ECB
New Delhi: Bharti Cellular, the cellular services vehicle of the Bharti group, is in the process of raising $125m (Rs 604 crore) through a six-year external commercial borrowing (ECB).
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HCL Info net up 26% q-o-q, turnover rises by 74%
New Delhi: HCL Infosystems has reported a turnover of Rs 409.7 crore compared to Rs 235.5 crore in the corresponding quarter of the previous year. Profit before tax stood at Rs 13.6 crore as against Rs 14.1 crore in the same period last year.
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TVS Motor Q2 net profit soars 197%, sales up 64%
Chennai: Two-wheeler major, TVS Motor has sustained its top gear performance with a whopping 197% jump in net profit at Rs 30.9 crore in the second quarter ending September 30, ’02 against Rs 10.4 crore in the same period last year.
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BHEL bags contract from PowerGrid
Mumbai: Bharat Heavy Electricals Ltd (BHEL) has bagged Rs 25-crore contract from PowerGrid Corporation of India Ltd (PGCIL) to set up a 400-kv grid sub-station at Baripada in Orissa.
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Satyam Q2 results on Oct 23
Hyderabad: Satyam Computer Services Ltd will announce both Indian GAAP and US GAAP results for the quarter ended September 30 on October 23.
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VSNL allowed to invest Rs 835 cr in Tata Tele
Mumbai: The committee set up to look into the modalities of VSNL's controversial investment in Tata Teleservices has decided that VSNL will invest Rs 835.8 crore in TTSL, at par and over a 7-year period, for a 19.9 per cent stake.
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Nirmal Agro setting up canned pineapple plant
Kochi: The Kochi-based Nirmal Agro Industries (India) Ltd is setting up a 100 per cent export-oriented canned pineapple processing plant at the Kinfra Export Promotion Industrial Park at Kakkanad at an investment of Rs 32 crore.
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Escorts Heart centre at Jodhpur
New Delhi: Escorts Heart Institute & Research Centre (EHIRC) has launched a heart centre at Jodhpur's Goyal Hospital and Research Centre.
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Madura sees robust growth for suits
Chennai: The readymade suits segment is expected to grow at a rate of 30 per cent, according to Vasanth Kumar, Vice-President, Marketing, Madura Garments.
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Synthite Chemicals set to post Rs 20-cr net
Kochi: The Kochi-based Synthite Industrial Chemicals Ltd, a pioneer in the spices oil and oleoresin industry in the country, is expected to clock a turnover of little over Rs 200 crore and a profit of around Rs 20 crore during the current fiscal year.
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Maruti loses 8 pc of market pie in 6 months
New Delhi: Even as the passenger car market is showing signs of acceleration, it seems to be deceleration time at Maruti Udyog Ltd. The overall passenger car industry grew by 4.1 per cent in the first half of this fiscal ended September 30, but Maruti has seen a drop of 12 per cent in sales volumes.
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