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THE
INDEX / All-round growth
Blue Star (BSL), engaged in airconditioning and refrigeration
business, has churned out really cool financials during the year to March
2001. Although the Rs 1,500 crore Indian room air-conditioner market has
reached a plateau, BSL is growing at a rate of 20-25 per cent, which is
faster than that of the market leader Carrier Aircon’s.
REC
to securitise Aptransco receivables
THE Rural Electrification Corporation (REC) is understood to be negotiating
for securitisation of receivables of Aptransco, the distribution utility
in the state of Andhra Pradesh. According to sources, receiveables worth
over Rs 250 crore might be securitised. This will be the second tranche
of securitisation.
REC
to raise Rs 1,200 cr through capital gains exemption bonds
THE Rural Electrification Corporation (REC) has announced its
entry into the capital gains exemption bond market. REC plans to float
these bonds in the market in the current fiscal and expects to raise atleast
Rs 1,200 crore.
VST
records 11% increase in sales
DESPITE the cigarette industry continuing to face a difficult trading
environment, Charms, the major filter brand of VST Industries Ltd has
reported a 11 per cent growth in its sales, during the year 2000-01.
ALL
to roll out luxury bus in alliance with Sundaram, Irizar
THE Hinduja Group flagship Ashok Leyland plans to launch a super luxury
bus, manufactured in alliance with Chennai-based Sundaram Industries and
Spain’s Irizar.
Orissa
cautious over dealing with AES Corporation
IS the US utility giant, AES Corporation, is looking for an opportunity
to withdraw from power business in Orissa? Many in the state government
think so.
HAL,
Russian consortium to produce multi-role aircraft
BANGALORE-based Hindustan Aeronautics Limited, will design and produce
jointly with a Russian consortium, a multi-role transport aircraft, which
would be cheaper, by atleast 30 per cent than similar aircraft in the
world, a top HAL official said.
CSB
clocks 70 per cent jump in net to Rs 11 crore
THE Kerala-based Catholic Syrian Bank (CSB) has recorded a 69.68 per cent
jump in net profit from Rs 6.63 crore to Rs 11.25 crore for the year ended
2000-01. Gross profit rose by 90.48 per cent from Rs 25.55 crore to Rs
48.67 crore.
BPCL
loss amounts to Rs 8 crore on sale of aviation fuel to Modiluft
BHARAT Petroleum Corporation Ltd (BPCL) suffered a loss of Rs 7.84 crore
on account of selling aviation turbine fuel (ATF) on credit to private
airline Modiluft against the norms, Comptroller and Auditor General of
India (CAG) has pointed out.
Paris
trade show on Indian shores
NOT only the foreign merchant-manufacturers, international trade promotion
organisations abroad too, are of late taking interest in Indian companies
and Indian visitors on foreign shores.
RPG
in talks with FIs to offload 25 per cent stake in MusicWorld
THE RPG group is in talks with ICICI, UTI and IL&FS for offloading
25 per cent stake in MusicWorld Entertainment, a division of Spencer &
Co, the retail arm of RPG Enterprises. The group expects to rake in Rs
30 crore from the proposed sale.
Ashima
group sets up garment washing plant at Ahmedabad
THE Rs 600-crore Ashima group is setting up a garment washing plant at
Ahmedabad at a cost of Rs 5.25 crore. The plant is a joint venture with
ALT group of Germany, the largest multinational garment washing company
in the world.
Ind-Swift
Labs net up 41%
IND-SWIFT Laboratories has registered a 41 per cent growth in net profit
to Rs 4.15 crore for the year ended March 2001 compared to Rs 2.95 crore
in the previous year. Turnover rose by 34.3 per cent to Rs 92.30 crore
from Rs 68.70 crore during the previous year.
Kinetic
Motor net up 12.5 per cent
THE Pune-based Kinetic Group on Tuesday reported growth in income and
net profits from both its two-wheeler companies, Kinetic Motor Company
Ltd (KMCL) and Kinetic Engineering Ltd (KEL).
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