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THE
INDEX / Invisible hand
SUCH are the quirks of the law of the land that most often those who indulge
in insider trading go scot-free. Clinching evidence is hard to find and
the guilty are rarely punished.
Hindustan Lever likely to
exit mushroom, leather businesses
HINDUSTAN Lever Ltd (HLL) may consider the option of exiting
non-core businesses such as mushroom and leather, which together constitute
sales of Rs 180 crore.
Pfizer, Parke Davis operational
integration in India begins
HE operational integration of Pfizer and Parke-Davis in India has commenced
and synergies between the two companies will pick up momentum in the next
few months. The legal merger will receive “earnest consideration” by the
boards of both the companies, Pfizer chairman RA Shah said at the 50th
annual general meeting (AGM) held here on Thursday.
M&M: Consolidation gains
MAHINDRA & Mahindra (M&M), flagship of Keshub Mahindra
group, is one of the few auto majors whose stock has been witnessing a
bullish trend on the bourses of late.
Rs 100 crore NCD issue fully
subscribed
THE Rs 100 crore non convertible debenture (NCD) issue of Mahindra and
Mahindra Ltd (M&M) has been fully subscribed. The company had planned
to tap the market in order to meet its long term working capital requirement
as well as capital expenditure.
Cipla net
rises 34% to Rs 178 cr
THE Mumbai-based Cipla has registered a 34.08 per cent increase in net
profit for the year ended March 31, 2001 at Rs 178.42 crore as against
Rs 133.06 crore in the previous year. Net sales/income from operations
from the year increased by 37.89 per cent to Rs 1,047.65 crore as against
Rs 759.75 crore in 2000.
Balachandran
acquires under 5 per cent stake in Allsec
MR Bala V Balachandran, distinguished Professor in accounting,
information systems and decision sciences at the JL Kellogg Graduate School
of Management has acquired “under 5 per cent” stake in Chennai-based Allsec
Technologies Ltd — a response management company with a wholly owned subsidiary
the US called Allsectech Inc.
‘ASP route best business option
for Indian firms’
WITH the average business of Indian companies ranging between Rs 50 crore
and Rs 100 crore, the application service provider (ASP) route is the
best option available to them, according to Hughes Escorts ommunications
Ltd vice-chairman Shashi Ullal.
Indian Rayon net rises 19
per cent to Rs 69 cr
INDIAN Rayon and Industries Ltd, the flagship company of the Aditya Birla
Group, has recorded a 19 per cent increase in net profit for the year
ended March 31, 2001 at Rs 69 crore, as compared to Rs 58 crore the previous
year.
Hindalco posts 11% growth
in profits
HINDALCO Industries, has reported a 11 per cent increase in net profit
to Rs 678.1 crore for the financial year ended March 2001, as against
Rs 612.4 crore last fiscal.
ICICI Bank net up 53% to
Rs 161 crore
ICICI Bank has recorded a 53 per cent increase in its net profit to Rs
161.10 crore for the year ended March 2001 from Rs 105.30 crore in the
last fiscal. The strong profit growth was driven by an increase of 118
per cent in net interest income to Rs 404 crore and a near doubling of
core fee-income to Rs 171 crore in end-March 2001.
Cadbury posts 18% rise in
net
CADBURY India Ltd has reported an 18 per cent increase in net profit to
Rs 12.39 crore in the first quarter ended March 31, 2001, as against Rs
10.5 crore in the corresponding period last year.
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