MUMBAI: Confectionary major Cadbury India said on Thursday it posted a 41.19 per cent rise in its net profit to Rs 26.22 crore for the year ended December 1998, against Rs 18.57 crore in the previous year. Net sales during the year rose 20.94 per cent to Rs 428.33 crore, from Rs 354.14 crore, the company said. The board has recommended a dividend of Rs 5.5 a share (Rs 3.5). New product initiatives boosted the company's performance, analysts said.

KRCL mobilises Rs 50 crore

MUMBAI: Konkan Railway Corporation Ltd (KRCL) has mobilised Rs 50 crore through an innovative instrument `American put bond,' wherein investor has a facility of an anytime put option after one year. The instrument carrying a coupon of 12.60 per cent payable half-yearly was structured by the sold arrangers Kotak Mahindra Capital Company.

The bonds have a face value of Rs one lakh and a tenor of three years, KRCL said in a release here today. While exercising the put option, the investorhas to specify a notice period of 30, 60 or 90 days and accordingly KRCL would redeem the bond at a price of Rs 99,500, Rs 99,750 or Rs one lakh (at par), respectively.

Uco Bank revival

MUMBAI: Indian Bank, Uco Bank, and United Bank of India will be undergo another round of revival study. This time, the MS Verma panel on weak banks will carry out the study.