The Financial Express -- Corporate

Wednesday, November 5 1997

Grasim H1 net slips 15% to Rs 125-cr

Grasim Industries, the diversified flagship of the AV Birla group, has announced a 15% decline in net profit at Rs 125.26 crore for the six-months ended September 30. It has squeezed out a mere 2.1% operating profit increase out of a 19% increase in sales. The company's net sales during the first half of 1997-98 stood at Rs 1,765.69 crore as against Rs 1,483.02 crore posted in the corresponding period last year.

Crisil seeks RBI nod to raise FII stake to 30%

The Credit Rating Information Services of India (Crisil) will seek the approval of the Reserve Bank of India to increase the ceiling on foreign institutional investors' (FII) shareholding in the company from 24% to 30%. An extra-ordinary general meeting of shareholders held yesterday gave the premier rating agency the go ahead to approach the central bank for permission to raise the ceiling.

Kalyani, Teksid venture to set up castings unit

The joint venture between the Kalyani group and Teksid, a wholly-owned subsidiary of Fiat, for the manufacture of castings, will soon set up its plant in Goa. The location will be finalised in a month's time. The project, estimated to cost Rs 100 crore, is reportedly on schedule, although it still requires some approvals besides land acquisition and sorting out power availability.

15% sectoral cap on FI lending to private power projects to go soon

BASF to sell 51% equity in Dr Beck to Schenectady of US

State Bank sets new benchmark; takes Grasim debt offer on its books

Tata Teleservices, DoT sign licence pact for AP circle

Indo Rama gives in to Maharashtra's wooing

Grasim H1 net slips 15% to Rs 125-cr

Baskin Robbins to launch new brand for catering clients

Skoda delegation to visit Shendre on November 7

Rajasthan Spinning profit spurts to Rs 11.23-cr

Voltas sells thermostat unit to Siebe Plc

Coromandel Fertilisers net up 27% to Rs 23 crore in first half

Kalyani, Teksid venture to set up castings unit