HLL net profit up a robust 56 per cent
Mumbai: FMCG major Hindustan Lever's has reported a net profit of Rs520.86 crore for the fourth quarter ended December 2005 against Rs333.7 crore in the corresponding period the previous year, a growth of 56 per cent. The net sales of the company were higher by 14.4 per cent at Rs2,974 crore from Rs2,600 crore during the same period last year.

The company has said that it planned to drive the cost reduction initiative further in a competitive market.

Harish Manwani, chairman, HLL, said that people who improve sales and reduce costs would be main contributors to the company's growth. During 2005, HLL witnessed significant growth in rural marketing, which contributed 35 per cent to its turnover. In addition market recovery and benefits of strong distribution helped the company said Arun Adhikari, managing director - home and personal care division, said.
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Reliance Capital acquires minority stake in DTDC
New Delhi: Reliance Capital Ventures controlled by the Anil Ambani Group has acquired 44 per cent stake in Bangalore-based courier and express company DTDC for an undisclosed amount. DTDC chairman and managing director, Subhashish Chakraborty, who has retained the remaining 56 per cent stake, would continue to manage the company.

Officials said the alliance is expected to bring a lot of value addition to the company.

The announcement comes within hours of Reliance Capital Ventures, which may be merged with RCL, saying that it has filed a revised information memorandum with stock exchanges for listing the company on the bourses.

DTDC, which has a strong network of 3,700 franchisees, has revenues of Rs125 crore on standalone basis and it aims to grow to Rs500 crore by 2010. By adding the revenues of its franchisees the figure currently comes to Rs250 crore.
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Orchid Chem gets USFDA approval for Cefoxitin
Mumbai: Orchid Chemicals & Pharmaceuticals has received formal approval from the US Food and Drug Administration (USFDA) for Cefoxitin injection, 10 g/vial to treat bacterial infections.

Cefoxitin is the generic version of Merck's Mefoxin and the company would be launching this product in the US exclusively through Apotex.
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Colour Chem acquires Chemtreat Composites
Mumbai: Colour Chem has taken 100 per cent equity stake of Chemtreat Composites India, at Navi Mumbai and its manufacturing unit at Khopoli, for Rs9 crore.

Chemtreat Composites India Pvt Ltd is engaged in the manufacture of polysilazane resins.
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United Phosphorus acquires firm in Netherlands
Mumbai: United Phosphorus has acquired Advanta Netherlands Holdings BV, based in Netherlands through its subsidiary in Mauritius. Advanta is leading supplier of seeds and seed technologies to major global and regional markets.

With operations in Australia, Asia and South America, Advanta's research and development consists of superior breeding programs and bioscience techniques.
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SRL Ranbaxy starts diagnostic tests for bird flu
New Delhi: SRL Ranbaxy has initiated a diagnostic test for bird flu that could be employed for mass screening with near accurate results within a day.

Ranbaxy's RT-PCR test has been developed indigenously and the fact that results can be reported within one day makes it extremely useful to fight any emergency situations like epidemics, a company statement said.

Other tests available in the market for bird flu take two to ten days to diagnose the presence of virus, it said.

The test costs range from Rs1,200 to Rs2,500 and will be available across the company's 550 centres in over 350 cities.

Bird flu is an infection caused by avian (bird) influenza (flu) viruses that occur naturally among birds.
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Kumarmangalam to get Century Textiles and Enka: B K Birla
Kolkata: Basant Kumar Birla, doyen of the Birla family, said two of his companies, Century Textiles and Century Enka, would go to grandson, Kumarmangalam Birla, as per his succession plan but for the time being the companies will be under his control.

Jayshree Tea and Industries would go to his daughter Jayshree and Kesoram Industries to another daughter, Manjushree, he said.

Kumarmangalam was inducted into the Century Textiles board on February 7 amid speculation that it may be a part of the plan to merge the company with AV Birla Group to further consolidate its position.
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IOC initiates sales of cross holdings in ONGC, GAIL
New Delhi: Indian Oil Corporation Limited has started the process of selling cross holdings of its shares in Oil and Natural Gas Corp and GAIL (India), and has appointed J M Morgan Stanley and Citi Financials as merchant bankers after IOC evaluated price bids from institutional investors for the sale.

Besides the two, IOC had asked Kotak Mahindra to submit price bids for sale of up to 20 per cent of its equity holding in ONGC. IOC had also invited the three firms plus SBI Caps-CLSA combine to make price bids for sale of up to 50 per cent of its holding in GAIL.

IOC holds 13.7 crore-equity shares or 9.61 per cent stake in ONGC and 4.08 crore-equity shares or 4.83 per cent in GAIL. The company's board on December 28 approved the sale of up to 20 per cent of its stake in ONGC and up to 50 per cent in GAIL this fiscal.
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BHEL receives large overseas contract
New Delhi: Bharat Heavy Electricals (BHEL) has achieved its biggest ever order in the overseas markets with a turnkey contract worth US$457mn for setting up a 500 MW steam power plant in Sudan. This is the single largest export order secured by BHEL so far and also the largest value order on any capital goods manufacturing company in India, a BHEL release said.

The public sector company will commission the 500 MW Kosti power plant for National Electricity Corporation (NEC), Sudan in 44 months. On completion, this will be the single largest power project in Sudan.

BHEL will install four units of 125 MW each along with crude oil-fired boilers at the power plant, which may later be expanded to 3,000 MW. India has extended a concessional line of credit of US$350mn through the Exim Bank, BHEL said.

Major equipments to be supplied by BHEL for the project include, boilers, steam turbines and generators, control systems and 220 kV switchyard, besides associate auxiliaries.

While the steam turbine, generators and pumps will be manufactured at BHEL's Hyderabad plant, the boilers will be built at the company's Trichy plant. BHEL's Bhopal and Jhansi plants will supply transformer switchgear and control panels, it said.
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Siemens may set up unit for telecom networking equipment: Maran
Barcelona: German engineering company, Siemens is planning to set up a manufacturing base in India to make telecom networking equipment, the communications and IT minister, Dayanidhi Maran said.

Maran said in the last ten months, many global players including telecom and IT giants have set up manufacturing and research facilities in India. This includes Alcatel, AMD, Ericsson, Cisco, Flextronics, Intel, Microsoft, Motorola, N okia, LG and Samsung, he said, adding that these global IT and telecom firms have together committed an investment of US$8bn.
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Wockhardt Q4 net down 23.39 pc
Mumbai: Wockhardt, the pharmaceutical and healthcare company has reported a 23.39 per cent decline in net profit at Rs51.4 crore for the quarter ended December 31,2005 as compared to Rs67.1 crore for the same quarter last fiscal.

Total income dipped to Rs233.1 crore for the fourth quarter this fiscal from Rs243.8 crore during the year-ago period, down 4.38 per cent, the company told the Bombay Stock Exchange.

Consolidated net profit of the group for the fourth quarter this fiscal stood at Rs73 crore as compared to Rs63.1 crore for the same quarter last fiscal. The group's consolidated total income increased to Rs368.6 crore from Rs362.3 crore for the fourth quarter ended December 31, 2004.
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MBT to become Tech Mahindra
Mumbai: Mahindra British Telecom (MBT), a joint venture between Mahindra and Mahindra and British Telecom, will soon be renamed. The company will henceforth be called Tech Mahindra, removing the name of the foreign tech partner.

The company, a software solutions provider, is a 57:43 joint venture that has a client base dominated by BT. Company officials had indicated earlier that MBT would go public only after the client base from both partners were equal.
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IVRCL's orders rise by Rs.265-cr
Mumbai: IVRCL Infrastructures & Projects orders rose by Rs265 crore from January 10 after bagging seven new contracts.

According to a release issued by the company to the BSE today, the orders include an EPC contract from the state government of Andhra Pradesh worth Rs113.38 crore for the Indira Sagar Project (Polavaram project - package No. 8).
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GE wants to supply plastic for Tata's Rs.1 lakh car
New Delhi: GE Plastics is in talks with Tata Motors' to supply plastics for the much-awaited Rs1 lakh car project. However, no firm orders have been placed. A Tata Motors spokesperson said the company would not offer any comments on its Rs1 lakh car project, slated for production by 2008.

GE Plastics recently managed to provide a front fascia in plastic, replacing metal, for Tata Motors' best-selling mini-truck, Tata Ace. This front fascia is designed to withstand high impact with good weather and oil resistance properties.

Mark H Kingsley GE Plastics' general Manager for global marketing (automotive) said cost-effective solutions involving plastic could replace conventional materials like steel and aluminium in cars. He added that at present, about 20 per cent of a car, on an average is made of plastic and can be increased to 40 per cent. This would mean a 10 per cent reduction in the overall weight of the car and a five per cent reduction in fuel consumption.

GE Plastics supplies plastics to nearly every automobile manufacturer in the country, for a total of 3,000 tonnes.
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VSNL acquires Teleglobe
New Delhi: Tata group company Videsh Sanchar Nigam has completed the acquisition of Teleglobe International Holdings, a wholesale provider of international telecommunication services. The acquisition amounts works out to about US$239mn. The acquisition could increase Teleglobe's annual revenues by as much as 200 per cent in 2006-07.

The acquisition would help the company's international division, VSNL International to tap the extensive global reach, established operational strengths of Teleglobe and would enable it to deliver a comprehensive portfolio of next- generation carrier and enterprise solutions, a statement issued by the operator said.

The new combined entity will own and operate one of the world's largest international mobile, data, and voice networks with coverage to more than 240 countries and territories.
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