Global Housing Finance has recorded a 43.28 per cent increase in the net profit to Rs 3.3 crore for the year ended March 31, 1999 from Rs 2.3 crore in the corresponding period last year. The company has maintained an equity dividend of 7 per cent on an equity base of Rs 2.29 crore.

HDFC Board meet on July 9

Housing Development and Finance Corporation will conduct its 20th annual general meeting on July 9 at Birla Matushri Sabhagar.

Baxter India CP assigned `P1+'

Crisil has assigned a `P1+' rating to the Rs 5 crore commercial paper of Baxter (India). According to a Crisil release issued on Wednesday the rating reflects the strong support enjoyed by Baxter India from its parent company Baxter International Inc. (Baxter, rated "A" by S&P) in terms of technology, strategy, management and funding.

Kerala Power Fin net

Kerala Power Finance Corporation has achieved a net profit of Rs 17.59 lakh in its first year of operation lastfinancial. It gave Rs 41.6 crore to the Kerala State Electricity Board (KSEB) towards the modernisation of transmission network at Punalur last year. The corporation accepted fixed deposits from the public on a interest ranging from 11.5 to 13 per cent up to four years.

Karvy Construction downgraded

Icra has revised the rating of fixed deposit programme of Karvy Consultants from `MAA-' to `MA'. The revised rating indicates adequate safety. The revised rating reflects the decline in profits during the period 1997-99 due to the poor performance of the asset financing and distribution divisions.