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New
CDC proposal on L&T drops IPO clause
Mumbai: The revised proposal by CDC Capital Partners
for investing in Larsen & Toubro’s cement business
has dropped the clause which required its approval for
L&T Cement to tap the capital market with an IPO.
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Dabur
clears plan to demerge pharmaceuticals business
Mumbai: Dabur India’s board on Thursday gave
an in-principle approval to the demerger of its Rs 162.9
crore pharmaceuticals business into a separate company.
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Spic
posts Rs 32-cr net loss
Chennai: The Southern Petrochemical Industries
Corporation on Thursday reported a net loss of Rs 31.97
crore over a turnover of Rs 395.99 crore for the third
quarter ended December 2002.
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Essar
Steel cuts losses by 54 per cent to Rs 66 crore
Mumbai: Essar Steel Ltd has cut down its losses
by 53.6 per cent in the third quarter of the fiscal ended
December 31, 2002 to Rs 65.91 crore as against a loss
of Rs 142.15 crore in the corresponding quarter of the
previous fiscal.
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Sun
Pharma net up 20 per cent to Rs 56 cr
Mumbai: Sun Pharmaceutical Industries Ltd has reported
a 20.4 per cent increase in net profit to Rs 55.9 crore
for the third quarter ended December 31, 2002, as compared
to Rs 46.8 crore in the corresponding quarter last year.
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Asahi,
Floatglass boards approve merger plan
Mumbai:
The boards of Asahi India Glass and Floatglass India approved
the merger of FGI with its holding company Asahi India
subject to requisite approvals.
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Ipca
Labs trains sights at US, to invest in new plant
New Delhi: Ipca Laboratories, the maker of the
anti-malarial Lariago, plans to invest Rs 20-30 crore
in a new finished dosage forms manufacturing plant for
the US market in fiscal ’04.
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B'bay
Dyeing sells property in city, B'lore
Mumbai: Bombay Dyeing & Manufacturing company,
the Wadia group flagship, has sold a number of properties
in Mumbai and Bangalore over the past four months.
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Wockhardt
set to launch 1st locally made insulin
Mumbai:
Mumbai-based Wockhardt will hit the domestic market with
the first indigenously developed insulin soon, in a move
that would induce a turmoil in the market where a price
war has been commenced lately by MNCs Novo Nordisk and
Eli Lilly.
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Govt
looks at Lockheed proposal to sell aircraft
New Delhi: The Union defence ministry is said to
be examining proposals from US giant Lockheed Martin for
supply of some modern multi-function transport aircraft,
with features like inflight refuelling, electronic warfare
systems etc.
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i-flex
net profit rises 51 pc in Q3
Mumbai: i-flex Solutions Ltd has posted a 51-per
cent growth in net profit for the quarter ended December
31, 2002, at Rs 53 crore compared to Rs 34.9 crore during
the corresponding period of the previous year.
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Heritage
Foods Q3 net up 32 pc
Hyderabad: Heritage Foods (India) Ltd (HFIL), the
Rs 165-crore milk and milk products company has registered
a significant growth of 16.56 per cent in turnover and
32.05 per cent in net profit for the third quarter of
current fiscal year.
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ABB
net up 50%, dividend at Rs 6
Mumbai: The Indian arm of the Swiss-Swedish engineering
major Asea Brown Boveri Ltd said its net profit for the
year 2002 was Rs 97.17 crore, up 49.57 per cent from Rs
65.33 crore a year ago.
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Gujarat
Ambuja net up 12 pc
Mumbai:
Gujarat Ambuja Cements has announced a 12 per cent year-on-year
increase in net profit at Rs 56.46 crore, up from Rs 50.44
crore for the quarter ended December 31, 2002.
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Pokarna
Q3 net doubles
Hyderabad: Pokarna Ltd, the Hyderabad-based Rs
69-crore company formerly known as Pokarna Granites, has
posted a growth of 62.97 per cent in turnover and 109.94
per cent in net profit for the third quarter of the current
fiscal ended December 31,2002.
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Promo
expenses pull down Novartis net to Rs 12.2 cr
Mumbai: Novartis India yesterday announced
a net profit of Rs 12.2 crore for the third quarter ended
December 31, 2002 compared to Rs 17.53 crore during the
corresponding period last year.
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CUMI
net rises
Chennai: Carborundum Universal Ltd (CUMI) has reported
a net profit of Rs 4.42 crore for the quarter ended December
2002, as against Rs 4.32 crore in the corresponding quarter
of last year.
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CESC
Q3 losses at Rs 31 crore
Kolkata: CESC Ltd, the flagship company of the
RPG group, has ended the third quarter with losses of
Rs 31 crore against Rs 70 crore in the same quarter of
the previous fiscal.
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Morepen
sales up 14.91 pc in third quarter
New Delhi: Even as the Rs 530-crore pharma and
healthcare company, Morepen Laboratories Ltd, prepares
to reap the benefits of its anti-allergy drug, Loratidine,
from the US market - it has posted a 14.91 per cent rise
in total income during the third quarter ended December
2002.
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Philips
India back in black
Mumbai: Philips India has posted a net profit of
Rs 84.3 crore for the year ended December 31, 2002 compared
to a loss of Rs 21.2 crore in the previous year.
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Parrys
Confectionery net loss rises
Chennai: Parrys Confectionery Ltd has incurred
a loss after tax of Rs.1.12 crore on a total income of
Rs.22.44 crore for the three months ended December 31,
2002 as against the loss after tax of Rs.43 lakh on a
total income of Rs.26 crore for the corresponding period
in the previous year.
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D-Link
India Q3 net at Rs 3.98 cr
Mumbai:
D-Link India has posted a net profit of Rs 3.98 crore
for the third quarter ended December 31, 2002 compared
to Rs 2.16 crore during the corresponding period last
year.
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Nagarjuna
Constn Q3 profit up
Hyderabad: Nagarjuna Construction Company Ltd has
posted a turnover of Rs 112.73 crore and a net profit
of Rs 4.11 crore for the third quarter of the current
fiscal as against a turnover of Rs 111.9 crore and a profit
of Rs 3.02 crore in the year ago.
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Matrix
Lab turnover, net zooms
Hyderabad: Matrix Laboratories Ltd (MLL) has registered
a substantial growth both in turnover and net profit for
the third quarter of current fiscal year ended December
31, 2002.
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Nava
Bharat net rises
Hyderabad: Nava Bharat Ferro Alloys Ltd has registered
a growth of 38.92 per cent in turnover and 124.93 per
cent in the net profit for the third quarter of current
fiscal year ended December 31, 2002.
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Sterlite
to hive off copper business
New Delhi: Sterlite Industries India Ltd has decided
to hive off its copper business and its investments to
a new company. The residual Sterlite company will retain
power transmission line, aluminium conductor and other
non-metal assets in the company.
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TVS
may buy out collaborator in Sundaram-Clayton
Mumbai: The TVS group plans to buy out the American
collaborator's stake in Sundaram-Clayton Ltd, it is reliably
learnt.
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