Fag Precision Bearings Ltd has posted a 38 per cent dip in profits though it has registered a growth of over six per cent in turnover on an annualised basis for the nine-month period ended December 1998. Profit after tax was down to Rs 4.01 crore (for nine months) from Rs 8.70 crore in the previous 12-month period, registering a dip of 38.3 per cent, chairman of the company Vidya Sagar told reporters in Mumbai on Saturday.

Maharashtra Antibiotics

The Board for Industrial and Financial Reconstruction has formed a prima facie opinion to wind up the state-owned sick company, Maharashtra Antibiotics and Pharmaceuticals Ltd (MAPL), as it was not likely to make its net worth exceed accumulated losses within a reasonable time while meeting financial obligations. The bench, in a hearing recently, noted that there was no rehabilitation proposal with means of finance fully tied up for MAPL, which is engaged in the manufacture of general antibiotics, in spiteof sufficient opportunity given to all parties concerned.

Mercedes-Benz special offer

Mercedes-Benz India Ltd is offering special limited edition E-class cars to celebrate its fourth successive year as the `official car' for the Gold Flake Open ATP tour tennis tournament. These cars cars are fitted with additional features including alloy wheels and wooden gear shift lever at no extra cost. These special edition cars are available through the exclusive Mercedes-Benz dealers throughout the country.