Gulf Oil net profit at Rs 8.69 crore: Gulf Oil India Ltd has reported a net profit of Rs 8.69 crore in 1997-98 and declared a dividend of 37 per cent. The company's sales increased to 50,897 kl for the full year ended March 1998, against 32,778 kl for the 10-month periodended March 1997. It plans to install automated filling and packing machines for higher efficiency and quality at competitive price. It is also considering setting up of a blending plant in south India.

NTPC plan: The National Thermal Power Corporation (NTPC) plans to add, on an average, almost two mega watts of power everyday to its supply to the western region for the next few years, NTPC executive director western region HL Bajaj said. NTPC had prepared plans for adding another 500mw unit to the Korba super thermal power plant, Bajaj said. However, plans to expand its 2100mw super thermal power plant (STPP) at Korba had failed to take off after a declaration by the ministry of environment marking it out as one of the 14 `hot zones' in the country, Bajaj said.

Indian Shaving to launch new ware: The Indian Shaving Products Ltd (ISPL) plans to introduce a slew of shaving products in the country from the Gillette stable, a senior company official said. ISPL, a subsidiary of the US-basedGillette Company, will first launch a new range of aftershave lotions and deodorants, company managing director Zubair Ahmed said. The company achieved a sales turnover of Rs 187 crore during the last year by recording a 29 per cent growth, Ahmed said. Gillette, which holds 51 per cent stake in ISPL, has spent over $70 million in research and development (R&D) for the new products, he said.

Court order against Ram Laxman Hote's: The Mumbai high court, in an ad interim order, has stayed an order of a lower court that put on hold the Ram Laxman Hotels Ltd board's decision to remove the chairman and change the company's registered office. The company owns the five-star hotel Holiday Inn in Pune. Ram Laxman Hotels Ltd, a public limited company is mainly promoted by a group of non-resident Indians (NRIs), including Ram Buxani and Murij Manghnani, from Dubai.

Lloyds Steel, Western Coalfields forge pact: The Rs 1,400-crore steel major, Lloyds Steel Industries Ltd has entered into an agreement withthe Western Coalfields Ltd (WCL) for opening an underground mine exclusively to be used by the former. The agreement, entered into recently, envisages supply of high quality coal on cost plus return basis by WCL to Lloyds Steel. This coal is proposed to be used for the company's 80mw captive power plant being set up at Wardha in Maharashtra. This is the first time that WCL has entered into such a coal supply arrangement with a private sector company.

Monsanto denies involvement in mustard oil adulteration: Monsanto Enterprises has refuted allegations that it is directly or indirectly involved with the adulteration of mustard oil to create a market for its surplus genetically-engineered soyabean in the country. Monsanto India country director Terry Bunn said, "We categorically state that Monsanto is in no way involved in this unfortunate tragedy. We are saddened that a tragedy involving the lives of so many people should have been misused by some interested groups to push their own agenda and divertattention from the main issue -- adulteration of edible oil." Monsanto does not trade in or import soyabeans into the country, a company release said. "Monsanto is not a grain or commodity trader and hence has no interest in the status of oilseed imports in India," he said.