Dr Reddy's net profit soars 45% to Rs 49 crore
Dr Reddy's Laboratories has registered a 45% jump in net profit to Rs 48.80 crore for the year ended March 31, 1998 as against Rs 33.50 crore in the previous year. The company has maintained the dividend at Rs 3 per equity share.
Nabard suggests 8% capital adequacy for regional banks
The expert committee, set up by the National Bank for Agriculture and Rural Development (Nabard) to review its supervisory role, has recommended eight per cent capital adequacy norms for cooperative banks and regional rural banks. It has also called for setting up of an autonomous board of supervision for cooperative banks and regional rural banks (RRBs).
Reliance Panna-Mukta venture seeks nod for four-fold gas output growth
The un-incorporated joint venture between Reliance Industries, Oil and Natural Gas Corporation (ONGC) and the US-based multinational Enron Oil and Gas has submitted a proposal with the Union petroleum ministry for a four-fold increase in its gas production from five million tonnes a day to 22 million tonnes a day.
Marico Industries net vaults 50% to Rs 30 crore
Marico Industries Ltd has recorded a 50% jump in net profit to Rs 30 crore for the year ended March 31, 1998, compared with Rs 20.1 crore in the previous year. The company saud that the financial results do not take into account the impact of the proposed merger of Kanmoor Foods Ltd which is subject to approvals from the Board for Industrial and Financial Reconstruction (BIFR) and Marico shareholders. said.
Orissa Mining challenges chromite trading by Tisco
The state-owned Orissa Mining Corp (OMC) has challenged the exports of Sukinda Valley chrome ore by Tata Iron & Steel Co which was granted a mining lease as an user industry. OMC has appealed to the Union commerce ministry and the government-owned MMTC not to export the prime ore raised by Tisco from its leased area.
