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August 1, 2001, Chandigarh, India   
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Reliance
Q1 net jumps 14 pc
Reliance
Industries offer to UTI Markfed
wheat for Dubai firm |
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Website
to help quit smoking Honda
profit increases 45.1 per cent |
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Bharti
wins eight cellular licences Punjab
Tractors net inches up in Q1 PM’s
offer sends market into temporary tizzy Gujarat
Ambuja Cements net rises
Indigenous
AC industry claims better technology HDFC
Bank Q1 net soars 33.8 pc Microsoft,
AOL lock in battle over Internet
PSB net
up 33 pc
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Reliance Industries offer to UTI
Mumbai, July 31 Indicating this to mediapersons, RIL Managing Director Anil Ambani said his company is open to any offer if that helps in enhancing the shareholders value. RIL is strategically interested in BSES Limited in which it is currently holding about 30 per cent equity shares, but the financial institutions had debarred RIL in the past to enhance its holding further and control the management of BSES. In this context, Mr Ambani ruled out the possibility for RIL to bid for the Dabhol Power Plant in case its promoter Enron Corporation intends to sell out its holdings in the project. The UTI is also having good amount of holdings in RIL and its several subsidiaries like Reliance Petroleum. In 1994, the UTI had acquired RIL shares at the rate of Rs 385 per share through private placement at a sum of Rs 775 crore which till date provided an equal amount of earnings to the UTI in the last six years. Similar private placements of RIL shares were made with the GIC and
LIC at prices of Rs 75 crore and Rs 105 crore, respectively. Collectively, UTI, LIC and GIC had made an investment of Rs 945 crore in 1994 and got a net profit of Rs 900 crore from the investment in the last six years.
UNI
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Markfed wheat for Dubai firm Chandigarh, July 31 Markfed expects the repeat orders under which around three lakh tonnes of wheat is likely to be exported, said the Minister. Rake loads (wheat to be exported) have already been moved to Kandla port from Jandiala, Beas, Jalandhar, Phillaur, Hoshiarpur, Ludhiana and Chawapail. “It was a challenge to dispose of this crop which had lost lustre due to intermittent rains”, said Mr D.S. Bains, MD, Markfed. Markfed is also in the process of exporting another two lakh tonnes of wheat (orders for which were received earlier) of which a large portion has already been exported. With this the quantity of wheat exported by it this year would reach Rs 100 crore. State agencies other than the FCI are holding 165 lakh MT wheat (worth around Rs 15,000 crore). “Given the present pace of wheat movement, it will take years to clear these stocks”, said Mr Bains. He emphasised that agencies in the state take lead and grab maximum share of export ceiling declared by the government. Of the total stock of 46 lakh tonnes with Markfed, 22 lakh tonnes is rain soaked. Due to non-payment of several amounts, Markfed is suffering. Several issues, thus, need to be addressed by the government on priority, said Mr Bains. These include delayed payments due to cash crunch with the FCI. This amount is estimated to be almost Rs 300 crore. Other important issues were the finalisation of incidentals, non-release of the Infrastructural Development Cess by the FCI, deduction on account of moisture gain not taking into consideration any provision for the deterioration of grains lying under unscientific storage and heavy cut on establishment and administrative charges on procurement of wheat.
Basmati in Kerala Markfed Basmati and canned food will now be available in
Kerala. The agency has entered into an agreement with the Kerala State Food and Supplies Corporation which will arrange the sale of Basmati and other products in the state through its own super bazaars and also private channels. The first consignment (Rs 7 lakh) has already been sent and the products will be launched on the eve of Onam which falls on August 5.
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Website to help quit smoking New Delhi, July 31 Glaxo India, which has launched the pill, will also provide a Zyban Advantage Plan free of cost. This personalised support plan will be spread over seven to 12 weeks. The unique feature of this treatment is that the person could continue to smoke till the “Quit Date”, which could be any time during the first two weeks of the treatment. A national Zyban helpline and a website for smokers in India also was launched by the company today to help them quit the habit which claims about 800,000 lives in the country every year. Smokers across the country can now log on to www.zybangoodhealthnyou.com and get information and tips on how to quit smoking, the family as a support system as well as contact details of 340 doctors in over 54 cities in the country. They can also call the Zyban helpline at 96-22-005555 to help identify the habit as a problem which requires attention as also other information on Zyban treatment and counselling.
UNI |
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Honda profit increases 45.1 per cent
Tokyo, July 31 The company attributed the profit rise to good sales of motor cycles and automobiles in Japan and overseas. Honda said its motor cycle unit sales increased by 11.7 per cent to 1.37 million units, and revenue rose 13.6 per cent to 224.6 billion yen. It attributed the increase in unit sales to gains in other Asian countries and Latin America.
DPA
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Bharti wins eight cellular licences
New Delhi, July 31 Bharti won two lucrative telecom circles of Maharashtra (Rs 189 crore) and Gujarat (Rs 109.01 crore) pipping Barakhamba Sales and Services, an offshoot of the Hutchison group. Barakambha sales won Chennai (Rs 154 crore) and Karnataka (Rs 206 crore). Karnataka’s was the highest bid of the day. Escorts Telecommunication bagged UP (East) (Rs 45.25 crore), Rajasthan (Rs 32.25 crore) and Punjab (Rs 151.75 crore), taking the tally to a total of four licences at the end of the third round. They had already won Himachal Pradesh in an earlier round. Reliable Internet Services won Kolkata circle (Rs 78.07 crore) and BATATA, the merged entity of Birla-AT and T, Tata-BPL, got the much sort after Delhi metro (Rs 170.70 crore). Bharti Cellular had applied for 11 licences and after the final round of price bidding it had won the licences for Mumbai, Tamil Nadu, Haryana, Kerala, western UP, Madhya Pradesh. It won licences for Maharashtra and Gujarat today. Successful bidders will be awarded licences for the fourth cellular slot by the end of August after the formalities of submitting bank guarantees.
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Punjab Tractors net inches up in Q1 Chandigarh, July 31 Despite a sharp fall in the industry volumes, PTL has maintained its sales at the previous year level of 10,500 tractors raising its market share to 20.3 per cent from April-June last year’s level of 17.9 per cent. Mr Yash Mahajan, Vice-Chairman & MD, said favourable model mix and pro-active cost management combined to raise the company’s margin at the operating level to 19 per cent for the quarter against 18.2 per cent for the corresponding quarter of the previous year.” The operating profit at Rs 42 crore has improved 8 per cent. Pre-tax profit reached Rs 36 crore (last year Rs 35.3 crore). Profit after tax of Rs 25.4 crore (Rs 24.7 crore) translates into an earning of Rs 4.2 per share (Rs 4.1).
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PM’s offer sends market into temporary tizzy New Delhi, July 31 The markets, however, rebound following the quick assurance of the NDA members of their support to his leadership. “The markets initially did tumble when the news first trickled in. However, it soon appeared that it was more of a political gimmick and the market picked up later soon after”, an operator said. News about a possible tie up between UTI and 19 public sector banks for smooth redemption of US-64 units also helped in the recovery of market sentiments.
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Gujarat Ambuja Cements net rises
Mumbai, July 31 The board has recommended a dividend of 50 per cent (Rs 5 per share) as against 40 per cent in last fiscal, GACL said in a release here today. The turnover increased by 11.21 per cent in reporting fiscal to Rs 1,448 crore from Rs 1,302 crore in same period of last year. Gillette India
Gillette India Ltd has posted a net loss of Rs 9.70 million for the quarter ended June 30, 2001 as compared to a net loss of Rs 38.30 million in the quarter ended June 30, 2000. Total income for the quarter ended June 30, 2001 is at Rs 1061.40 million as against Rs 1042.90 million in the corresponding period last fiscal.
BASF India
BASF India Ltd has posted a net profit of Rs 113.40 million for the quarter ended June 30, 2001 as compared to Rs 57.50 million in the quarter ended June 30, 2000. Total income for the quarter ended June 30, 2001 is at Rs 1516.20 million as against Rs 956.70 million in JQ 2000.
Esab India
Esab India Ltd has posted a net profit of Rs 6.50 million for the quarter ended June 30, 2001 as against Rs 31.30 million in the corresponding period last year.
Ajanta Pharma
Ajanta Pharma Ltd has posted a net profit of Rs 0.76 million for the quarter ended June 30, 2001 as compared to Rs 23.43 in the corresponding period last fiscal.
Finolex Cables
Finolex Cables Ltd has posted a net profit of Rs 104.20 million for the quarter ended June 30, 2001 as compared to Rs 92.90 million in the corresponding period last fiscal. Total income for the quarter ended June 30, 2001 is at Rs 1025.70 million as compared to Rs 603.30 million in the quarter ended June 30, 2000.
ITC Hotels
ITC Hotels Limited’s net profit during the first quarter of 2001-2002 has increased by 37.93 per cent to Rs 0.80 crore from Rs 0.58 crore during the corresponding quarter of 2000-2001.
DCM Shriram Consolidated
DCM Shriram Consolidated Limited has posted a higher profit before tax of Rs 13.58 crore for the first quarter of the current financial year as against Rs 10.02 crore during the corresponding period last year. The company also reported a gross sales of Rs 271.94 crore during the quarter as compared to Rs 239.76 crore during the same period in last financial year.
Bajaj Electricals
The Sluggish demand conditions coupled with the general slow down in the economy have affected the growth of the Bajaj Electricals Limited during the first quarter in the current financial year. The company had doubled its profit in the year 2000-01 at Rs 25.47 crore on the sale turnover of Rs 393.74 crore. The company is expected to achieve an export turnover of Rs 30 crore during the current financial year.
Grasim
Grasim Industries has posted a net profit of Rs 112 crore during the first quarter ended June 30, 2001, registering an increase of 89 per cent from Rs 59 crore reported in the corresponding period in last year. The company has reported a turnover of Rs 1,184 crore during the first quarter this financial year as against
Rs 1196 crore recorded in the corresponding period last year.
Voltas
Voltas Ltd has posted a net profit of Rs 17.70 million for the quarter ended June 30, 2001 as compared to Rs 7.20 million in 2000. Total income for the quarter ended June 30, 2001 is at Rs 2333.30 million as compared to Rs 2047.70 million in the corresponding period last fiscal.
Tata Infomedia
Tata Infomedia has reported a 29 per cent drop in its net profit at Rs 1.55 crore for the quarter ended June 30, 2001 as against Rs 2.17 crore for the same period last year.
MRF
MRF Limited today announced 38.89 per cent decline in 2000-2001 third quarter net profit to Rs 8.19 crore from Rs 13.40 crore during the corresponding quarter of previous
fiscal. TNS, Agencies
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Indigenous AC industry claims better technology New Delhi, July 31 The unorganised sector, which contributes a healthy 45 per cent of the total market in India, widely uses energy efficient reciprocating compressor technology, as opposed to the rotary technology largely used by the branded ones. Domestic compressor manufacturers say that there are inherent advantages of the reciprocating technology as it has a flat power curve and can operate upto 52 degrees
celcius ambience. On the other hand, the rotary technology is suitable for ambient of 42 degree celcius and the power consumptiuon increases with increase in ambient. The domestic compressor industry says that while there is a negligible drop in performance of the reciprocating technology after two years, the imported rotary technology has been reported to have recorded as high as 21 per cent drop in performance. Moreover, while the reciprocating technology is repairable with low cost, the imported technology is not repairable and involves a very high cost of service. According to industry figures, nearly six lakh units of air-conditioners were sold last year. Out of this more than 2.75 lakh were sold from the unorganised sector contributing more than 45 per cent of the total market size in India.
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HDFC Bank Q1 net soars 33.8 pc
Mumbai, July 31 The total net income for the quarter under review showed a jump of 41.2 per cent to Rs 455.5 crore as against Rs 322.7 crore. The bank has provided Rs 28.3 crore for taxation as against Rs 23 crore for the corresponding period the previous year, it said. The bank achieved a healthy growth in its key balance sheet parameters with deposits showing a 38.4 per cent growth to Rs 13,209 crore as against Rs 9,542 crore as of June 30, 2000.
PTI
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Microsoft, AOL lock in battle over Internet
Seattle (New York), July 31 In the other corner, an Internet and media titan with a 30 million-strong base of web subscribers and a deep library of music, movie and news. That’s the tale of the tape for what is shaping up as the heavyweight business brawl of the year — Microsoft Corp. versus AOL Time Warner Inc. The stakes are big-time: both sides hope to dominate the next wave of Internet services that will tie instant messaging, music, e-commerce and other features into a seamless offering. The two companies have already taken the first shots at each other and analysts say the fight is only just starting. “I predict that we are going to see all-out war for several years before we see cooler heads prevail,’’ said David Smith, an analyst with the Gartner group, a technology consultancy. The clash is more remarkable for the way that it pits two of the strongest personalities and most highly regarded strategists in American business: Microsoft Chairman Bill Gates against Steve Case, AOL Time Warner Chairman. “I have no doubt that AOL wants to be the next Microsoft,’’ said Jeff Chester, Executive Director of the Center for Digital Democracy, a consumer advocacy group. “Steve Case is looking at the mirror and he sees himself as Bill Gates.’’
Internet, messaging and media
Much of the fighting centres around Microsoft’s plans for Windows XP, the next version of its computer operating system that is due to launch on October 25. Microsoft plans to use the software as a launching pad for Hail Storm, the name for the company’s first set of web-based services to be delivered under its. NET strategy to build the Internet into all its software. But windows XP and HailStorm will run up against AOL on many fronts. Windows XP will guide users to offerings like its MSN Internet service, which with 6.5 million users is a distant second to the 30 million subscribers to AOL Time Warner’s America Online Service. The web access business is important because once people already are paying a monthly access fee, it will be easier to sell them additional services. Instant messaging and digital media are two other areas where sparks will fly. AOL dominates instant messaging, which lets users send short messages to each other in real time. Microsoft is hoping to gain the upper hand with its new Windows Messenger, which also will let users start video chats with a couple mouse clicks. In digital media, AOL has strong ties to Real Networks Inc. the top maker of software for sending and playing audio and video over the web, and the top rival for Microsoft’s media player, which is being built into Windows XP.
Passport vs. Magic Carpet
The key to winning many of these fights lies in so-called identification services, which store a variety of personal information like credit card and shipping data, analysts said. Microsoft’s service is called Passport, which it already uses to register people for things like Hotmail, its free web-based e-mail product. Last Friday, an AOL source confirmed the company plans to roll out a secure authentication device, code-named Magic Carpet, in the next six months. “Passport vs. Magic Carpet. That’s probably where they will be fighting short-term,’’ said Rob Enderle, an analyst with the Giga Information group. Last week it also came to light that AOL has wooed PC makers - who have limited power to modify the appearance of windows — with promises of cash payments for giving its Internet access service prominence on XP. The news prompted angry reactions from Microsoft executives at the company’s annual meeting for Wall Street analysts.
Reuter
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PSB net up 33
pc New Delhi, July 31 The operating profit grew by 38 per cent at Rs 32.57 crore compared to Rs 23.51 crore in the year-ago period, a PSB statement said here. The net profit was arrived after taking Rs 13.83 crore expenses for VRS for the first quarter, it said. The bank is well poised to achieve a Rs 100 crore net profit during the current fiscal year, N.S. Gujral, CMD said.
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