GMDC net at Rs 85.42 cr: Gujarat Mineral Development Corporation (GMDC), which off-loaded 26 per cent of the Gujarat government's share in October last, on Thursday declared a net profit of Rs 85.42 crore for the year ended March 31, 1998, up 22 per cent from the previous year's Rs 70.20 crore. Its gross profit stoodat Rs 176.78 crore, up 11 per cent from the previous year's 158.58 crore.

Infosys' AGM live on the Net: Infosys Technologies will host the live broadcast of the proceedings of its annual general meeting (AGM) on Saturday at 3.00 pm via the Net. "We would like to provide our global investors and other stakeholders a facility to view the proceedings of an important event in the company -- like the annual general meeting'' said chairman and managing director NR Narayana Murthy. The proceedings will be available at http://play,rbn,com/?infosys/infosys/live/agm98530-20.rm.

Efficient Machine bags ISO 9002: Efficient Machine Accessories has received an ISO 9002 certification from IRQS for quality management and for the manufacture of import-substitute technical products. The company was formerly known as Efficient Engineering Works.

Trans Coils unveils actuator: The Pune-based Trans Coils has introduced a threadless-linear actuator.The device does away with the stocking of screws ofdifferent lengths and eliminates errors while reversing directions. This ensures compatibility with linear encoders and compensation logic controllers and makes it suitable for various applications.

Apple launches Power Macintosh: Apple Computers is chalking out a business strategy specific to India and South Asia, according to Samit Roy, managing director, Apple South Asia. The strategy will be put to use within 30-40 days.

Nestle dividend at Rs 1.50 a share: Nestle India has announced a final dividend of Rs 1.50 per equity share, taking the aggregate dividend for the year ended December 1997 to a record Rs 6 per share on post-bonus equity base.

Oil import bill declines 19%: The oil import bill decreased by a whopping 18.9 per cent last year, even though the volume of imports remained the same as in 1996-97. The growth in oil consumption at home also sobered down to 4.3 per cent, after galloping at a pace of 6.5 per cent in 1996-97 and 10.7 per cent the year before.

Hyundai intalks to tie up Santro finance scheme: Hyundai Motor India, the 100 per cent subsidiary of the Korea-based Hyundai Motor Company, is in talks with Citibank, Bank of America (BankAm) and Countrywide Finance to tie up a financing arrangement for its Santro. The 999 cc petrol-driven car, to be priced between Rs 2.70 lakh and Rs 3 lakh, will hit the roads in October. Hyundai Motor India managing director Yang Soo Kim said the company would make its final choice from the trio by June.Gujarat scheme to provide immediate power connections: Gujarat minister of state for energy,Kaushik Patel on Thursday announced a new scheme for providing immediate power connections to farmers for agriculture purposes in the state. Patel said under the scheme called "tatkal", 15000 power connections would be sanctioned in a period of two to four months. The scheme would be implemented soon, Patel said.

Paging industry growth stalled: Economic recession has slowed down the growth of paging industry in thecountry since 1996-97 which accounts for a mere one million subscribers as compared with 45 million in China at present. Chairman and managing director of `Pagelink' D Malhotra said that paging services, launched in the country in 1995, failed to spread its network and remained stagnant primarily owing to the economic recession and lack of awareness.

100% depreciation mooted for computers: The national task force on information technology has recommended a 100 per cent depreciation for computers and information technology products in the budget, a key member of the force said on Thursday. "Such depreciation can help improve usage of computers and IT," the force member and Public Enterprises Selection Board chairman N Vittal said at a conference.

NBCC pares net loss: The public-sector National Buildings Construction Corporation Ltd (NBCC) brought down its net loss to Rs 1.15 crore in 1996-97 from Rs 9.49 crore in the previous year, thanks to an increase in its annual turnover. NBCC achieved aturnover of Rs 254.11 crore during the last financial year against Rs 212.42 crore in 1995-96, according to its annual report for 1996-97 tabled in parliament on Thursday.

Mahindras sign productivity-linked agreement with Kamgar Sena: Mahindra & Mahindra on Thursday signed a productivity and capacity-linked wage agreement with the Bharatiya Kamgar Sena, the trade union wing of the Shiv Sena, at its tractor plant in Kandivali in north-west Mumbai. The new agreement will come into force immediately.