Hyundai rolls out 10,000th Accent
Hyundai Motor India Ltd, the fully owned subsidary of South Korean auto major Hyundai, today rolled out the 10,000 model of its mid-sized luxury car Accent.Hyundai's cumulative sales touched 1.08 lakh with 98,557 Santro cars and 9,621 units of Accent till May 31, a company statement said.Sterlite gets shareholder approval
Sterlite Industries has informed the stock exchange that it has obtained the necessary approvals for the arrangement between the company and the Sterlite Telecom Systems Ltd from its equity and preference shareholders. The meeting of the unsecured creditors was adjourned for want of quorum.Kabra in tie-up with German firm
Kabra Extrusiontechik signed a collaboration agreement with Battenfeld Extrusiontechnik Gmbh, Germany, valid for seven years upto 2007 for the manufacture of a wide range of extrusion machinery. Battenfeld is the largest manufacturers of extrusion machinery and the Kabra Extrusiontechnik Ltd is part ofKolsite Group, the largest manufacturers of plastic extrusion machinery in India.
India Nippon pays 70% interim
India Nippon Electricals Ltd has registered a net profit of Rs 11.90 crore (Rs 9.09 crore) for the year 1999-2000. Turnover stood at Rs 97.97 crore (up 15 per cent) while deprication was at Rs 2.4 crore (Rs 2.11 crore) and interest at Rs 12.99 lakh (Rs 17.68 lakh). The company transferred Rs 6.50 crore (Rs 5 crore) to the general reserve. Exports was at Rs 98 lakh (Rs 82 lakh). The company declared an interim dividend of Rs 7 per share.
Mold-tek acquires US firm
Hyderabad-based Mold-tek Technologies Ltd (MTL) has acquired the US-based American Consulting Corporation (ACC) in a cash and equity deal amounting to $0.5 million (more than Rs 2 crore).The company's valuation, will be decided by July 1, 2000.
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