Corporate
TNPL to upgrade paper machine
TAMIL Nadu Newsprint and Papers Ltd (TNPL) is taking up a Rs 40-crore project to upgrade its first paper machine. It has awarded the contract to Voith Paper, Germany. The project will be funded through internal accruals.
Draft plan to revive Bharat Immunologicals
A DRAFT rehabilitation scheme has been circulated for Bharat Immunologicals and Biologicals Corporation Ltd (Bibcol). Noting that there was a general consensus that the company could be rehabilitated, the Board for Industrial and Financial Reconstruction
(BIFR) had asked Bibcol to submit its audited balance-sheet as on March 31, 1999, to IDBI, the operating agency (OA) and directed the OA to submit a report on it subsequently.
Tax payers' plea on PF
MUMBAI: The All India Employees Tax Payers' Association has written to the Finance Minister seeking exemption from any levy of tax on their Provident Fund (PF) withdrawals.
JCT to consider EGM on unit hive off
MUMBAI: The board of directors of JCT Ltd is meeting on February 26 to consider calling an extraordinary general meeting (EGM). The EGM is being called to seek members' approval for hiving off the fibre unit of JCT to its subsidiary, the company has info
rmed the Bombay Stock Exchange.
No diversification please! We are VCs
THOUGH much of the world believes in diversifying risk by spreading the eggs, the venture capital industry still swears by tight focus.
Shriram Bearings turnaround hinges on IT, new product-mix
SHRIRAM Bearings Ltd (SBL) hopes to turnaround in two years or so under the stewardship of the new promoter, Mr P.C. Sen, former chairman of Peerless General Finance, who had bought 69 per cent stake in the company from Mr Arun Bharat Ram.
PwC unveils new reporting framework for corporates
GLOBAL management consultancy firm, PricewaterhouseCoopers (PwC), has come out with a new approach to performance measurement and corporate reporting which calls on companies to disclose more information that covers intangible assets and non-financial dr
ivers of shareholders' value.
Financial Performance
ABB net up at Rs 54 cr
ASEA Brown Boveri Ltd (ABB) has ended the year 2000 with a 45-per cent rise in net profit at Rs 54.01 crore against Rs 37.19 crore in the previous year.
Hind Lever Chem net down 41.19 pc
HIND Lever Chemicals Ltd, a subsidiary of Hindustan Lever Ltd, has registered a 41.19-per cent drop in net profit at Rs 31.56 crore for the year ended December 31, 2000 over Rs 53.67 crore recorded in the year-ago period.
Mutual Funds
Franklin Templeton cautions about `tracking error'
FRANKLIN Templeton, which is set to launch an index-linked tax saving scheme, wants investors to be familiar with the `tracking error' that index funds are likely to commit while mirroring indices of their choice.
PSU
Singareni Collieries paid-up capital rises
THE paid-up capital of the State-owned Singareni Collieries Company Ltd (SCCL) has gone up from Rs 1,535 crore to Rs 1,607 crore, with the Andhra Pradesh Government and the Central Government infusing an additional equity of Rs 37 crore and Rs 35.55 cror
e respectively.
Stocks
Rs 200-crore market cap must for ALBM facility
THE Securities and Exchange Board of India (SEBI) has put an end to the facility that was available to pure securities borrowers of withdrawing of shares from the clearing houses from this settlement period.
