Wednesday, June 17, 1998
Asian Paints net up 22% at Rs 67.50 cr
Asian Paints (India) Ltd on Tuesday announced a 21.9% increase in net profit to Rs 67.50 crore for the year ended March 1998, against Rs 55.38 crore in the previous year. Net sales rose 8.6% to Rs 800.34 crore during the year from Rs 737.19 crore last year. Gross sales crossed the Rs 1000-crore mark to touch Rs 1,019.08 crore, up by 8.7% over Rs 937.76 crore last year. Operating profit increased to Rs 117.94 crore from Rs 111.62 crore.
Tisco sets June 2000 target to kick off CRM operations
Tata Steel has swooped down on the budget-endowed opportunity of strong duty protection to go ahead full steam with a cold-rolling mill (CRM) plan, hitherto on the drawing boards, within its existing steel complex at Jamshedpur in Bihar. Taking up the challenge, the steel giant has fixed June 2, 2000, as the target date for going on-stream with a 1.2-million-tonne per annum capacity, which will set a new international benchmark in the implementation of cold- rolling mills anywhere in the world.
BHEL, Mitsui in race for NTPC's Simhadri project
Bharat Heavy Electricials Ltd (BHEL) and Japanese multinational Mitsui are in the race for the National Thermal Power Corporation's (NTPC) Rs 3,600 crore Simhadri power project in Andhra Pradesh. NTPC is likely to take a final decision on the joint venture partner in its next board meeting scheduled for June 19.
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