Wednesday, June 10, 1998
Ranbaxy Labs net increases 16% to Rs 187 crore; announces 1:1 bonus
Ranbaxy Laboratories on Tuesday announced a 1:1 bonus issue and a dividend of Rs 10 per share for the year ended March 31, 1998 on improved net profit and turnover figures. Net profit rose to Rs 186.70 crore during the year, against Rs 160.40 crore in 1996-97, an increase of 16.4 per cent. Turnover is up at Rs 1,333.50 crore in 1997-98, a rise of 16.1 per cent over Rs 1,148.20 crore in 1996-97.
Maruti Union goes on the warpath
Suppressed anger was writ large on every face at Maruti's labour union office in Gurgaon the morning after the patch-up between government and Suzuki. The union is upset as it perceives the agreement as a precursor to Suzuki taking ownership control of the company.
HC appoints official liquidator for three JVG group companies
The Delhi High Court has appointed official liquidators to immediately take charge of all assets of three JVG group companies -- JVG Finance, JVG Securities and JVG Leasing. The court restrained directors and other officials of the three companies from disposing off any of the assets of the companies and asked them to file their replies by July 28, the next date for hearing.
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