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Wednesday,
October 23, 2002, Chandigarh, India  
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HCL Tech net income drops 36 per cent
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Farmers fail to reap cotton
Canada opens gates for farmers
Orthopaedic wing at Sohana hospital PR agency unaware of HP ministers
Industry seeks withdrawal of exim form
Indian firms generate 122 cr at SAITEX
HDFC disburses over 37,000 cr
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HCL Tech net income drops 36 per cent
New Delhi, October 22 According to the company’s consolidated income statement, as per US GAAP, HCL Tech’s net income, after sales incentive and provisions, for quarter ended September 2002 stood at Rs 76 crore as compared to Rs 97.8 crore in the same period previous year, down 22 per cent. The net income at Rs 76.2 crore during quarter ended September 2002, was down 27 per cent, as compared to net income of Rs 104.3 crore clocked by the company during April to June quarter. Indal
Indal, an Aditya Birla Group company, has reported a 2 per cent increase in net profit at Rs 31.5 crore during the quarter ended September 30, 2002, over the same quarter in the previous year. Net sales rose by 10 per cent to Rs 369.5 crore during the quarter compared to the same quarter last year. According to a company release, the results were ‘satisfactory’ considering ongoing global and domestic slowdown, low international prices impacting on margins and high energy costs. The company’s performance in the first half of the current financial year posted an income of Rs 680 crore with a net profit of Rs 55.5 crore.
TVS
Buoyed by its exemplary performance in the first half of the current financial year, TVS motor company today declared an interim dividend of 50 per cent to its shareholders. At a time when the two-wheeler industry grew only by 21 per cent, the TVS registered a 45 per cent growth in Q2 over the previous year’s performance.
PSI Data System
PSI Data Systems Ltd an Aditya Birla group copany, has reported over three times rise in its net loss at Rs 5.17 crore for the second quarter ended September 30, 2002 as compared to Rs 1.63 crore in Q2 of last fiscal. The total income for the period under review declined to Rs 11.34 crore as against Rs 20.01 crore in July-September.
GKW
GKW Limited today reported a lower net loss of Rs 7.29 crore during the second quarter ending September, 2002 compared to Rs 9.90 crore in the corresponding quarter last year. The company’s first half net loss now stood at Rs 17.35 crore as against Rs 19.56 crore during the first six months of previous fiscal.
Blue Dart
Blue Dart Express Ltd has posted a higher net profit at Rs 4.81 crore for the second quarter ended September 30, 2002, compared to Rs 3.86 crore in same period of previous fiscal.
Agencies
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Punjab best destination for investment: envoy Chak Gujjran (Hoshiapur), October 22 Talking to The Tribune, Mr Bernard said in the contemporary world, Punjab had emerged as the best place for France to make investment as while on the one hand Punjab’s
economy was primarily based on agriculture and on the other France was number two in the field of agro-technology especially for the excellence achieved by it in the manufacturing of farm implements. “Another factor, which makes the atmosphere more conducive is the hard work in which the people of Punjab believe,” observed Mr Bernard adding that the mainstay of the French Embassy in India was to strike direct interaction between the people of France and India, particularly of Punjab, for achieving higher bilateral trade and investment. He said the hard working
people of Punjab were a matter of pride for the developing world as well as for India. “This is the main reason making the state more viable for French investment,” said Mr Benard. “After a good deal of research, we have identified about 15 fields of mutual interest, where the people of the two countries could join hands and on which we are going to organise a series of seminars in India from next year. The agro-tech seminar would be held in Punjab” said Mr Bernard, who was here on visit to a tractor-manufacturing unit. He said That a number of French companies would also participate in the next month’s Agrotech Fair to be held in Chandigarh. He said the priority of the French Government was to strengthen economic ties between the
countries. “Food processing is also another topic of mutual interest which could be explored. We have asked our embassy representatives to carry out an economic survey, also touching this field, apart from the agro-technology,” said Mr Bernard while dubbing the tractor-manufacturing unit, set with jointly with Renault Agriculture, a French company, as a good venture. Mr Bernard, however, skirted queries on Jammu and Kashmir even as he hailed the smooth conduct of Assembly elections in the trouble-torn valley. |
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Farmers fail to reap cotton Chandigarh, October 22 Talking to the TNS, he disclosed that a section of farmers in that area, which had tried to shift to paddy, has also suffered heavy losses due to fall in production by 15-20 per cent against 7-10 per cent in other areas. Other agricultural experts said that farmers in this belt would suffer losses to the tune of over Rs 100 crore due to fall in production and higher expenditure incurred on inputs. Mr S.P. Oswal, Chairman of the Oswal group of Industries, admitted that total production of cotton in Punjab, Haryana and Rajasthan was likely to touch 20 to 22 lakh bales. He said, ‘‘Since the area under cotton has decreased, farmers would not be able to benefit from improved prices.’’ At present, the mills and traders were purchasing American cotton at a price of Rs 2090 to Rs 2100 per quintal, he said. Dr Rampal admitted that the total production of cotton in Punjab would be substantially lower than the targets fixed by the department. He said,‘‘
Though the initial reports had forecasted a bumper cotton crop this year, but later on due to drought and attack of bollworm and other diseases on the crop, the farmers’ hopes were belied.’’ Almost all the spinning mills of the Spinfed, Punjab, have already closed down due to fall in crop production in the state, and other private mills have to depend on imported cotton. The mill owners said the state government should allow and arrange the plantation of BT cotton to boost production in the state. Asked about the farmers response, Dr Rampal said,‘‘ A section of farmers in all the seven districts under cotton belt had shifted their area towards paddy. But they had to experience a downfall of paddy production level by 15-20 per cent, as compared to 7-10 per cent fall in production in other parts of the state. It has also added to their problems.’’ |
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Canada opens gates for farmers
Chandigarh, October 22 Although the amount to be invested in these countries is not specified by immigration authorities, however, it is presumed that for Canada a reasonable amount to setup an agricultural farm or any other business an amount of Rs 40 lakh would suffice. However, for New Zealand a much lower amount of approx Rs 15 lakh shall meet the requirement. WWICS has already identified major chunks of land in Canada for settlement of Indian farmers. Col B.S. Sandhu CMD WWICS will conduct free seminars to educate the masses about the legal ways to immigrate to Canada, New Zealand and Australia from October 26 to 28 in Punjab and Haryana.
TNS
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Orthopaedic wing at Sohana hospital SAS Nagar, October 22 Ms Jain said in the era of rank consumerism in the medical field and the rise of corporate hospitals, Sri Guru Harkrishan Sahib (C) Hospital Trust, unswervingly continued to offer quality medical care and treatment to the poor completely free of cost with the help of philanthropic individuals and organisations as well as those who could afford to pay. She also praised and urged the NGOs to come forward and help those who were needy and living below the poverty line. The latest hi-tech equipment like C-Arm, lithotripsy, laproscopic surgical instruments, hygienic operation theatres and sterile conditions available at the hospital also impressed her. Bhai Jasbir Singh Khalsa
Khannewale, chairman of the hospital trust, while giving brief details about the ideals of the trust said the free services at Sri Guru Harkrishan Sahib (C) Hospital Trust followed the basic principles of “A single standard of care for all”. Mrs Seema Jain also told the trust authorities to adopt a few villages and take care of complete eye care as well as other projects of the government. She said these concepts also insured that all patients were treated equally irrespective of their social status, besides providing free consultation, surgery and medicines. She also took a round of the gynaecology and obsteric department, dental as well as urology and general surgery departments at the newly built Bhai Kanhaya Block.
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PR agency unaware of HP ministers Dharamsala, October 22 In a press note issued by the agency on October 18, Mr Rajesh Chandra has been shown as IPH Minister. Interestingly Himachal does not have any minister by this name and the correct name of the IPH Minister is Mr Ramesh Chand Dhawala. This is not the first time that the agency has quoted wrong name of IPH Minister. On earlier occasions also, the agency was ridiculed for showing Sundernagar an important town of Mandi in Bilaspur district. It may be recalled that “Perfect Relations” was engaged despite stiff opposition from the Public Relations department staff to project the image of the state government keeping in mind the forthcoming elections. There have been allegations that some persons close to BJP leadership in Delhi have ben hired at a huge amount but the agency has failed to fulfil the expectations. It has also been alleged that a team of PR men sitting at Delhi are preparing press notes based on stale data. The agency also appears to be ignorant about Himachal. Congress leaders have also criticised the decision of Chief Minister Prem Kumar Dhumal for hiring a private PR agency. Former Chief Minister Virbhadra Singh in a statement had said that the hiring of a private PR agency shows that the image of the state government has touched all time low. He also questioned the way, Perfect Relations was hired and has threatened that when Congress comes to power, the matter will be inquired and action taken. When contacted, the representative of the agency said that the press note was prepared in Delhi and it appears to be a mistake.
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Industry seeks withdrawal of exim form Ludhiana, October 22 Addressing a joint press conference here today Mr P.D. Sharma of the Apex Chamber of Commerce and Industry, Mr Madan Mohan Vyas of the Ludhiana Spinners Association, Mr Avtar Singh of the Chamber of Commercial and Industrial Undertakings, Mr Vinod Thapar of the Knitwear Club, Mr D.S. Chawla of the United Cycle and Parts Manufacturers Association, Mr K.K. Seth of the Ludhiana Engineers
Association and others described the proposal as a “draconian law” that will ruin the industry in the state. Listing their concerns the industrial organisations said that the introduction of the exim form will lead to delay in supply of goods from the factories which cannot be tolerated in a highly competitive era. said Mr M.M. Vyas. The exim forms will require the maintenance of a register. It will be applicable on any single transaction which is more than Rs 10,000. The Punjab government has sought objections to the notification within 30 days before it would come into effect. The association passed a unanimous resolution today seeking the withdrawal of the form. Otherwise, they warned, they would be forced to adopt the agitational path.
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Indian firms generate 122 cr at SAITEX New Delhi, October 22 A statement issued by the India Trade Promotion Organisation (ITPO) said that on the spot orders worth Rs 10.45 crore were booked during the fair while Rs 112 crore is
under negotiation for items such as garments, khadi and village industry products, plastic moulded jugs and containers, ice-cream cone making machinery, fabrics, power coating plants etc.
TNS
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