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Wednesday, April 8, 1998

	Reckitt and Colman sees only 17 % growth Reckitt and Colman of India would register lower growth this year due to transferring of products like Dettol and Dispirin to the joint venture with Piramals. The 60:40 joint venture with Nicholas Piramals was formalised in September last year to increase penetration into the rural markets and for marketing and distributing over the counter (OTC) products of both companies.		Ranbaxy net jumps 16% to Rs 186 crore Pharma major Ranbaxy Laboratories yesterday reported a 16 per cent jump in net profit to Rs 186.10 crore on the back of 15 per cent rise in turnover to Rs 1,323.20 crore for the year ended March 1998. The board has recommended an interim dividend of Rs 22.50 per share (22.5 per cent).
	Shipping Corporation set to alter its fleet composition The Shipping Corporation of India (SCI) has decided to change the composition of its 117-vessel fleet. Chiefly dominated by bulk-carriers, the fleet will see more crude-oil tankers and LPG carriers joining the family shortly. Anticipating a substantial jump in crude-oil imports in the next five years, the company plans to acquire nine oil-tankers in the current year.		DuPont, Petrofils sign marketing pact Vadodra-based Petrofils Cooperative Ltd, US-based DuPont Company and its Indian subsidiary EI DuPont India Ltd have signed an agreement for the manufacturing and sales of spandex yarn of finer deniers. The agreement envisages supply of technology and raw materials by DuPont to Petrofils plant in Gujarat, which will be producing the yarn on an exclusive basis for the former.

Dhanavarsha 12 sails past minimum mop-up target
LIC Mutual Fund's Dhanavarsha 12 has surpassed the minimum collection target of Rs 10 crore in the first week itself. The scheme, which opened for subscription on April 1, has already collected Rs 35 crore. The mutual fund is now targeting a subscription of around Rs 200 crore.

SC Mathur is Petronet CMD
Suresh Mathur has taken over as chairman & managing director of Petronet LNG Limited. The company, with an authorised capital of Rs 1,200 crore, has been promoted by ONGC, IOC, GAIL & BPC to make available liquified natural gas (LNG) in the country as a feedstock for power generation and fertiliser. Mathur is currently director (finance) of IOC.

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