Bright Brothers stable but illiquid
Now, with the launch of Safari, the sports utility vehicle (SUV) by Telco, along with that company's fortunes to some extent the fortunes of Bright Brothers Ltd also rides with it. In its recent set of results declared for the first-half of the current year (ending in June 1998) Bright Brothers continued to grow its revenues, while profits have not grown at all.
Indo-Gulf in throes of a metamorphosis
The quest for growth has lead Indo-Gulf Fertilisers & Chemicals to invest in a green-field copper project at least twice the size of its fertiliser unit. It is probably because the risks associated with the new venture have rubbed off on the company as a whole. The management has decided that the fertiliser division will be given its due importance -- after all that is what constitutes the company's core business.
Easier money
The cut in the rate of interest for repos, and the half a percentage point reduction in bank rate point to a reversal of the January measures by the Reserve Bank. The repo rate was higher than the yields available on 14-day and 91-day T-bills. Even the yield on 364-day T-bills was lower than the fixed repo rate of 9 per cent. This obviously affected T-bill subscriptions.
A pious agenda
The new government's national agenda is clearly an attempt at being all things to all men. As a statement of pious intentions, it is unexceptionable; as a guide for economic action, it is practically useless.
The Index
A Strong second-half, aided largely by the volatility in the forex markets has helped Thomas Cook (TCIL) shore up its bottomline. The 6.15% growth in the bottomline at Rs 14.49 crore, is largely due to the 17.45% jump in profits in the second-half.
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