MUMBAI: Century Enka, a BK Birla group company, has posted 42.59 per cent increase in net profit at Rs 14.63 crore for the first half year ended September 30, 1997 against Rs 10.26 crore during the same period last year.

However, the sales have shown a 15.2 per cent drop at Rs 233.21 crore against Rs 275.01 crore. The gross profit stood at Rs 23.22 crore as compared with Rs 24.60 crore. The interest was at Rs 5.57 crore against Rs 6.07 crore. The other income was at Rs 6.07 crore as compared with Rs 5.67 crore. The board has declared an interim dividend of Rs 1.80 per equity share of Rs 10 each for the current year absorbing Rs 460.47 lakh (including Rs 41.86 lakh tax on dividend).

Silver moves up, gold reacts

MUMBAI: Gold prices reacted on the bullion market on Tuesday due to lack of local buying coupled with weak London advices. Prices of silver, however, rose marginally on scattered industrial buying at lower levels. Standard gold declined by Rs 20 to close at Rs 4,090 from Rs 4,110. Silver ready .999 fineness improved by Rs 5 to close at Rs 7,370.

RBI bars FII buying in Satyam Comp

MUMBAI: The RBI on Tuesday said further purchases of equity shares of Satyam Computer Services Ltd on behalf of FIIs, NRIs and OCBs would not be allowed through exchanges without its prior permission. The aggregate net purchases by FIIs, NRIs, OCBs under the portfolio investment scheme has hit the 26 per cent limit.

B & C clears share transfer backlog

MUMBAI: Best & Crompton Engineering has good news for its shareholders. At a meeting held on November 21, the share committee appointed by the Madras high court cleared the backlog of share transfers after a gap of almost 10 months. The high court appointed Harikrishnan to approve transfers of the company's shares. However, the company said transfers were delayed due to certain internal problems. In October, the company was taken over by Polysindo group.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.