Maruti Udyog Ltd (MUL) has recorded a 6.5 per cent growth in sales of passenger cars during May 1999 despite a ban on sale of its vehicles in the national capital region (NCR) during the month. Sales of its passenger cars for the second month of the current fiscal stood at 32,357 units as against 30,372 units in the previous month, company officials said. Its sales during May 1998 was 31,374 units. With this, the company's strategy to service demand in markets outside the NCR seems to have paid off. MUL sold 16,854 units of Maruti 800 in May 1999, up 2.1 per cent from 16,500 units in the previous month. Its Zen sales stood at 7,030 units.

Indo Biocare ties up with MNCs

Indo Biocare (IBC) Pvt Ltd a new hi-tech veterinary pharmaceutical company, is all set to play a a major role Indian veterinary market following marketing alliances with multi-nationals, according to chief executive of the company, Dr Chandramohan. Addressing a press conference on Thursday nightwhere the joint declaration of marketing alliances of IBC with Eli Lilly -USA, Lohmann-Germany and Quat-Chem - UK were signed, Dr Chandramohan said it would initialy market animal health innovative products of its alliance partners and a range of therapeutics under its own brand-name.

Philips wins competition

Philips India Ltd has won the eighth national competition for business management simulations organised by the All India Management Association (AIMA). The team will now represent India at the regional Asian management games scheduled to be held in Hong Kong in December 1999. According to a news release, the national management games is organised by AIMA, that attract over 100 participants from both the private and public sectors every year. Out of 112 teams that participated this year, only ten teams qualified after four rounds, the release added.

MRTPC raps Hero Cycles

The Monopolies and Restrictive Trade Practices Commission (MRTPC) has asked Hero Cycles Ltd to stop the practiceof forcing its selling agent to sell its bicycles at prices determined by the manufacturer and also preventing it from dealing in competitors' goods. Acting on a complaint filed by director general of investigation, the commission ruled that the company indulged in restrictive trade practices through its agreement with its sole selling agent Munjal Sales Corporation requiring the latter to sell only at prices fixed by the company.

Emmsons net profit up

Emmsons International, a government recognised export house, has recored a increase of 84 per cent in its total turnover to Rs 126.08 crore during the fiscal 1998-99 as against Rs 68.63 crore in the previous year. The net profit of the company rose by 604 per cent from Rs 64.78 lakh during 1997-98 to Rs 4.56 crore during 1998-99. "The company's turnover increased mainly on account of a 347 per cent rise in its export turnover to Rs 103.59 crore during 1998-99 as against Rs 23.16 crore last year," Emmson International's finance controller VV Gandhisaid.