The Financial Express Corporate Page

The Indian Express

The Financial Express

Latest News

World News

EIW

Market Indicators

Screen

Express Computers

Graffiti

Crossword

Advertisers Forum

Travel & Tourism

Information Technology

Drumbeat: Ad Buzzaar

Astrosurf

Eco-India

Dr Know

Career India

Business Forum

Match Maker

Express Properties

Corporate

Tuesday, May 5, 1998

	Indo Gulf net jumps 31% to Rs 141 cr on back of output spurt Aditya Vikram Birla group company Indo Gulf Fertilisers & Chemicals Corporation Ltd has posted a smart recovery over last year's travails in the year ended March 31, 1998, with a 31% increase in its net profit and 35% rise in turnover. The company's net profit increased to Rs 141 crore from Rs 108 crore last year.		HDFC net profit likely to jump 15% to Rs 285 crore The Housing Development Finance Corporation (HDFC) is expected to post a net profit of around Rs 285 crore in 1997-98, registering an approximately 15 per cent growth over the previous fiscal. The premier housing-finance intermediary had posted a net profit of Rs 247.89 crore in 1996-97.
	Barnala clears Ramanthan's extension at IPCL helm A second one-year extension for Indian Petrochemicals Ltd (IPCL) chairman-cum-managing director (CMD) KG Ramanathan was approved by petrochemicals and fertiliser minister SS Barnala. Ramanathan was to retire on June 30, 1998.		Tepid response for Kanthal AB open offer Kanthal AB's bid to raise its stake to 73% in Kanthal India Ltd (KIL) has come a cropper as the shareholders have given a thumbs down to the open offer which closed on May 2. Although the Sweden-based promoter had offered to pick up 8.33 lakh equity shares at Rs 32, a premium of 60% to the prevailing market price, shareholders have parted with only two lakh shares.

Indo-Gulf Fertilisers goes easy on funds drawdown from institutions to pare cost
Indo-Gulf Chemicals & Fertilisers, a AV Birla group company, has stopped utilising sanctions from domestic financial institutions (FIs) in a bid to reduce its fund costs. The decision was taken as most of the rupee debt was contracted at over 17 per cent.

J&N plans extra volumes to gain edge
Jenson & Nicholson (J&N) will push extra volumes and hike machine density to gain an extra edge over its competitors in the automatic-tinting decorative paints segment. This comes in the wake of almost all the paints majors introducing their own computerised colour-processing systems.

Executive Briefing
Stanchart, Grindlays staff plan strike
Coke does the real thing, buys out Patna bottler in bid to strangle hold
Ministry clears IPCL-Malwa Cotton venture plan
Narasimham panel moots IDBI corporatisation
Bayer to focus on output; new venture to handle sales
Archies greets investors with 91% rise in net
Ajit Kerkar owns more than 60% stake in Cox & Kings, says Taj affidavit
Corporate Briefing
Marketplace Briefing
Tisco petition on sales-tax assessment order dismissed
World Briefing