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Information Tech net profit up 109%
Information Technologies India, the software arm of the Usha group, has posted a 109 per cent growth in net profit at Rs 12.52 crore during the first quarter of 1999-2000. It registered a 99 per cent jump in sales to Rs 4.34 crore. The company has accepted the US GAAP accounting practices. It has developed products in networking, Euro solutions, handheld and palmtops, group ware and educational titles.
IDBI's stake in MAPL
A Nagpur-based firm, Neelam Gemstones has offered to buy the stake of Industrial Development Bank of India and State Industrial Corporation of Maharashtra in sick joint sector company, Maharashtra Antibiotics and Pharmaceuticals Ltd. In a proposal submitted to Board for Industrial and Financial Reconstruction, Neelam Gemstones has proposed to buy about 40 per cent held by IDBI and Sicom and bring in Rs 3.5 crore to revive the sick company. Public sector, Hindustan Antibiotics holds the remaining stake in MaharashtraAntibiotics.
Bhel bags order from Azerbaijan
Bharat Heavy Electricals Ltd (BHEL) has bagged a Rs 21 crore contract from Azerbaijan, the first ever from the central Asian region to design, manufacture, erect and commission a 71mw hydro generator. The order, received from Azerenerji Stock Company, has been won against intense competition from reputed international companies, a company release said.
Lockout in GKW declared illegal
The Mumbai high court on Monday directed Guest Keen Williams, a company engaged in the manufacture of industrial machines, to lift within two weeks its lock-out declared last year at its Bhandup plant in Mumbai. Holding the lock-out illegal, Justice AP Shah ordered the company to pay back wages to its 400-odd workers with effect from March 1998 when a petition challenging the lockout was filed.
Rs 18 cr orders from Berlin fair
Indian companies have bagged orders worth Rs 18.5 crore for electronics goods at recently concluded consumer electronics goodsfair at Berlin, Germany. Indian firms bagged these orders including spot business of Rs 3.5 crore at Internationale Funkausstellung (IFA), consumers electronics fair held in the German capital, Indo-German Export Promotion Project (IGEP) said in a statement.
Balmer Lawrie travel operations
Public sector Balmer Lawrie and Co has achieved ISO 9002 certification for its travel and tours operations. Det Norske Veritas, the Dutch agency, has certified the company's travel branches at Delhi and Mumbai as meeting the quality standards. The company offers services in travel and tours from several locations to clients including government departments and agencies.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
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