Bajaj Auto has reported a turnover of Rs 3,900 crore for 1998-99, a 11 per cent jump from the previous year. Sales of vehicles totalled 1.423 million, a 6.7 per cent increase from last year and exceeds the previous best of 1,422,849 units recorded in 1996-97. During the year, the company sold over 2,00,000 Bajaj Kawasaki motorocycles, recording a growth of over 45 per cent over the previous year as against an industry growth rate of 30 per cent. On the back of volume sales from its new products (Legend, Bravo and Caliber), over 1.58 lakh Bajaj vehicles have been sold in March this year.

Caparo for raising stake in MUL

Caparo group of Britain has approached automobile leader Maruti Udyog (MUL) for increasing investment by about Rs 40 crore in their joint venture Caparo-Maruti. "We want to put another line of production at our joint venture to cater to Maruti's expansion programme and we are discussing it with MUL," Caparo group chairman Swaraj Paul toldPTI.

BHEL unit posts record profits

Bharat Heavy Electricals Limited (BHEL), Tiruchirappaly, has created a record by earning profit for the 30th consecutive year, netting a Rs 162 crore profit (before tax) during 1998-99 as against Rs 140 crore during the last year. VK Gopinath, general manager (in-charge), said the turn-over for 1998-99 was Rs 1531 crore as against Rs 1530 crore last year.