McDowell and Company reported 50 per cent growth in net profit to touch Rs 18.4 crore for the year ending March 31, 1999 against Rs 12 crore for the earlier 18 month accounting period. The company has been able to increase its net profit by cutting down interest payments to Rs 28.7 crore in 1998-99 compared to Rs 66.3 crore for the earlier period. However, the company did not reveal its current reserves even when it had over Rs 20 crore reserves for the 18 months period ending March 31, 1998.

Avanti mopeds to hit England roads

Indian moped `Avanti' would soon ply on England roads as it has cleared all the quality tests, a company statement said in Jaipur on Sunday. VK Talwar, the managing director of the Monto Motors Ltd situated at Alwar in Rajasthan, said his company has restarted the manufacturing of Avanti moped which was closed down when whirlpool took over the Kelvinator group's products. He said the moped would be exported soon against the firstorder received from England, adding the vehicle has high fuel efficiency and suitable for Indian roads too.

HC notice to Gujarat Tractor

A division bench of the Gujarat high court has issued show cause notices to Gujarat Government and Baroda-based Gujarat Tractor Corporation Ltd (GTCL) asking as to why the latter should not be restrained from selling 100,000 sq m of prime land at throwaway price of Rs 16 crore to a private firm. It is in response to a public interest litigation filed by Gujarat engineering and General Kamdar Union of Baroda.

Cadila bags Rs 5-crore order

Ahmedabad-based Cadila Health Products Ltd (CHPL), a Cadila Pharmaceuticals Group company, the third company in the world to produce tetramethylene sulfolane (Sulfolane), has bagged the single biggest order of Rs 5 cr from Bharat Petroleum Corporation Ltd (BPCL) since production started in 1996. Sulfolane, a high-end solvent, finds use in aromatic extraction, food grade hexane in refineries, bulk drug synthesis, printingink industry and as polymerisation solvent.

Siti Cinema takes on rivals

SITI Cable of Zee Network has announced its latest launch, Siti Cinema, a cable movie channel. The channel was launched on April 9 on an all India basis and has already shown as many as 75 blockbuster movies. The channel, available on the 14 prime-time band, promises 15 hours of premium blockbuster entertainment. It is also the first cable network to simultcast i.e telecast the same movie all over the country at the same time.