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Tisco sees dip in net to Rs 300 crore
The Tata Iron & Steel Co (Tisco) is likely to report a profit after tax (PAT) of around Rs 300 crore in 1997-98 against its previous year's Rs 469.21 crore, despite a 8.7% increase in sales. Tisco's sales improved from 2.02 million tonnes (mt) in 1996-97 to 2.21 mt, a growth of 9.4%, while exports, which almost compensates for its imports of coal and other raw materials and equipment, increased by 5% from 0.40 mt to 0.42 mt.
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India Cements will have to merge Raasi, say analysts
Experts in the mergers and acquisitions (M&A) feel that India Cements Ltd would be left with no option but to merge Raasi, Visaka and the investment companies with India Cements Ltd. This is because, though the investment companies had acquired shares in Raasi and Visaka, they were funded entirely by India Cements Ltd from borrowings. India Cements Ltd would be incurring huge interest outgo and the returns to it could be by way of paltry dividend as result the shareholders of India Cements Ltd would be greatly affected. But by merging all the companies, the common holdings will get cancelled and the shareholders of India Cements Ltd would enjoy the profits of Raasi Cement and Visaka Cements.
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20th Century MF to unveil 6 schemes in '98-99
Riding high on its recent alliance with Zurich Finance Ltd of Mauritius, Twentieth Century Mutual Fund has outlined a 60% growth in its unit capital in 1998-99. The fund which has not launched a scheme for two years now has lined up as many as six schemes for launch in the current fiscal. The fund plans to increase its corpus to about Rs 180 crore from the current level of Rs 114 crore by the end of this year through a slew of schemes slated for launch in calendar 1998.
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Zenith Computers launches cheapest personal computer model at Rs 35,500
Cocking a snook in the face of computer biggies, Zenith Computers Ltd has dropped a bombshell on the Indian PC market with the launch of a multimedia computer with a lowest-ever price tag of Rs 35,500 in the organised sector. The PC is targetted at the home segment and features a 200 MMX Pentium processor with a 16 MB RAM, 1.44 MB floppy drive, 2 GB hard disk, 24x CD ROM, sound card, colour monitor and a 160-watts speaker.
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