Castor oil futures trading
International castor oil futures trading will commence in the country on May 10 at the International Castor Oil division of Bombay Oilseeds & Oils Exchange. The commodity exchange will run a mock trading session on May 7.

Infosys plans acquisition
Infosys Technologies on Wednesday indicated acquisition of a software services company and another round of employees stock option in the near future. A company source said the acquisition can be for a product which will provide the company suitable opportunity for customisation.

Nestle Q1 net up 31% to Rs 20.5 cr
Nestle India's net profit has grown by31.4 per cent to Rs 20.5 crore during the period from January to March, 1999, compared with Rs 15.6 crore in the previous corresponding period. It has, however, recorded an 8.1 per cent drop in sales during the quarter to Rs 340.1 crore from Rs 369.9 crore in the same period last year.

MRF net at Rs 31.57 cr
MRF has registered a net profit of Rs 31.57 crore for the quarter ended March 31, 1999, compared with Rs 26.36 crore in the previous corresponding period. Its turnover has grown by 5 per cent to Rs 562.86 crore from Rs 536.74 crore during the same period last year.

Gulf Oil net rises 40% to Rs 11.46 cr
Hinduja-owned lubricant manufacturer Gulf Oil has posted a 31.9 per cent growth in its net profit to Rs 11.46 crore for 1998-99 against Rs 8.69 crore in the previous year. Its sales have increased by 4.4 per cent to Rs 26.19 crore from Rs 25.1 crore last year.

Cipla net up 12.8% to Rs 115.03 cr
Cipla has registered a 12.8 per cent increase in net profit to Rs 115.03 crorefor the year ended March 31, 1999, against Rs 101.97 crore in the previous year. Sales for the period jumped by 20 per cent to Rs 616.77 crore.

Concor net up 24% to Rs 143 cr
Container Corporation of India has recorded a 24 per cent surge in net profit to Rs 143 crore for 1998-99. Its sales have increased 13 per cent to Rs 682 crore.

TTK Prestige net up 83% to Rs 9.23 cr
TTK Prestige has posted a 83 per cent rise in its net profit to Rs 9.23 crore for the fiscal ended March 31, 1999, against Rs 5.08 crore in the previous corresponding period. The company's sales have grown 30 per cent to Rs 144.86 crore from Rs 111.43 crore in the same period last year.

Thomas Cook net up 13% to Rs 3.88 cr
Thomas Cook has posted a 13.39 per cent rise in net profit to Rs 3.88 crore for the first quarter ended March 31, 1999, against Rs 3.42 crore in the corresponding period of the previous year. The company's sales during the first quarter have increased by 10.45 per cent to Rs 17.99 crore,against Rs 16.29 crore in the same period last year.

Cheminor net zooms to Rs 20.89 cr
Cheminor Drugs' net has jumped 335 per cent to Rs 20.89 crore for the year ended March 31, 1999, compared with Rs 4.1 crore last year. Its sales have also buoyed 38.88 per cent to Rs 215 crore.

ITI, Alcatel sign pact
Local telecom giant ITI and French company Alcatel on Wednesday signed an agreement, extending technological cooperation between the two firms by five years. Under the pact, Alcatel, a leading global player in telecommunications systems and equipment, will transfer to ITI latest technology for its high density digital subscriber access unit of Alcatel E10 switching system.

Alfa Laval unit sale
Alfa Laval share holders on Wednesday approved the sale of tetra pak processing systems division for not less than Rs 25.5 crore at the company's AGM in Pune. The TPPS, catering to the dairy and liquid food industries, accounts for about 20 per cent of the company's sales.

ICI armto unveil detonators
Initiating Explosive Systems India, ICI India's joint venture with Ensign Bickford Company of the United States, is set to introduce EXEL Handidet range of detonators in the country. It plans to inaugurate a Rs 2.5-crore plant for non-electric detonators in Gomia in Bihar by May this year.

Century Gas plans to sell 50%
Century Gas & Petrochemicals, a Mumbai-based LPG bottler, is in negotiations with global gas giants for the sale of half of its promoter's stake in the company. A Netherlands-based energy company, with major presence in the country, is believed to have emerged the frontrunner, sources said.

Surveillance on marketing firms
The core group of FIPB has turned down a proposal for review of its decision to refer foreign-owned direct marketing companies, which have been allowed to set up operations in the country, to home ministry for surveillance on their activities.

Sensex up 27 points
Buoyed by assurance from the prime minister AtalBehari Vajpayee that the care-taker Government will ensure economic growth, the 30-share Sensex registered a gain of 27.44 points to close at 3,272.71 points on Wednesday. The renewed buying was triggered by fresh enquiries placed by leading FII fund managers.

DSP Merill Lynch to launch fund
DSP Merill Lynch Asset Management Company is set to launch an open-ended balanced fund that completes its family of fund offerings spanning the entire risk-return spectrum.