Tags:
Journalism of Courage
Punjab Chem pays 35
MUMBAI: The directors of Punjab Chemicals and Pharmaceuticals have stepped up the dividend to 35 per cent for the year ended March 1998 from 15 per cent paid last year. The performance of the company was excellent during the year with highest ever turnover, exports and profits in the history of the company.
The domestic sales turnover during the year amounted to Rs 30.64 crore Rs 25.97 crore and exports Rs 35.11 crore Rs 12.50 crore. The company has earned a substantially higher gross profit of Rs 8.04 crore against Rs 2.42 crore last year. After depreciation of Rs 1.34 crore Rs 1.14 crore and taxation of Rs 1 crore Rs 0.17 crore, the net profit amounted to Rs 5.69 crore against Rs 1.11 crore last year, an increase of 373 per cent.
MUMBAI: Samsung Electronics Company Ltd of South Korea and LanBit India have entered into an agreement for distribution of networking products including 10/100 auto-sensing SNMP managed hubs, routers and switchesin India. This is the first time that Samsung has entered into a partnership with any networking products manufacturer in India for networking products and solutions.
Asian CERC
MUMBAI: Asian CERC Information Services India Ltd, a pioneer in the field of financial information dissemination is planning a quot;Market Pulse-Budget Specialquot;. During the week from May 28 to June 5, internet users can get free live stock quotes from NSE and BSE apart from live business news through their Market Pulse software, which can be downloaded from asiancerc.com.
Shahi Shipping
MUMBAI: Shahi Shipping, the flagship company of the Shahi group, has posted a turnover of Rs 24.73 crore for 1997-98 which is higher by 18 per cent compared to Rs 20.95 crore. It has earned a higher gross profit of Rs 8.25 crore Rs 6.88 crore. The net profit is however, slightly lower at Rs 3.15 crore Rs 3.24 crore due to higher provision of depreciation of Rs 4.60 crore Rs 3.26 crore.
BiologicalE
MUMBAI: Biological E Ltd, a leading Hyderabad based pharmaceutical company has launched two new anticancer drugs Inron-O and Betaxel. Inron is a product used in leukemia and other forms of cancer. It has several other therapeutic applications and is widely used in the treatment of hepatitis. Betaxel is a novel antimicrothubule agent for thr treatment of advanced breast cancer, ovarian and lung cancer.
Lamp;T chief
MUMBAI: S D Kulkarni, managing director and CEO of Larsen amp; Toubro Ltd has been conferred the Management Man of the Year Award-1997 by Bombay Management Association. The award was presented by Kumar Mangalam Birla, noted industrialist, who was the chief guest at the awards function in Mumbai recently.
Silver up
MUMBAI: Silver prices improved moderately on increased industrial buying while gold turned weak on feeble overseas advices on the bullion market on Saturday. Ready silver of .999 fineness opened weak at Rs 7720 but on good industrial demand, rose to end at Rs7740, showing a gain of Rs 15 over the last close of Rs 7725. Tenderable silver also improved by a similar margin and closed at Rs 7745. However, raw silver of .916 fineness declined by Rs 5 to close at Rs 7595 Rs 7600 due to fresh arrivals of recycled silver. Standard gold and 22-carat gold turned easy by Rs 5 each at Rs 4160 and Rs 3850 from the last close of Rs 4165 and Rs 3855 respectively. 10-tola gold bar of .999 purity fell by Rs 100 to Rs 48,800 from Rs 48,900.
