The Financial Express -- News

Saturday, May 24 1997

SEBI moots on-line allotment proposal

The Securities and Exchange Board of India (SEBI) has devised a plan to replace direct subscription to IPOs with a system where applications will be routed through on-line stock brokers. The plan was disclosed by senior executive director of SEBI OP Gahrotra at a meeting with the top registrars and transfer agents last week. The terms of the public offer will be made available on the terminals of brokers.

Infrastructure Bond Issue

ICI net at Rs 42 crore, payout up 5%

ICI India's board has recommended a 5% increase in dividend to 45% on a higher turnover of Rs 695.13 crore. The company posted a net profit of Rs 42.06 crore for the year ended March 1997, up from Rs 35 crore a year ago. Its net sales from operations stood at Rs 669.68 crore compared to Rs 582.41 crore of the previous year.

Hero Honda targets 45% hike in motorcycle production

Two-wheeler major Hero Honda has targeted a production of 3.90 lakh motorcycles during 1997-98, an increase of 45%, from 2.68 lakh last year. This is the biggest increase planned by the company given that production went up by 17% between 1996 and March 31, 1997.

Crisil net profit up a shade at Rs 8 crore

Duty entitlement passbook second set rates declared