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Rahul Bajaj new CII chiefNEW DELHI: Bajaj Auto chairman and managing director Rahul Bajaj has taken over as the next CII president on Thu...

Rahul Bajaj new CII chief

NEW DELHI: Bajaj Auto chairman and managing director Rahul Bajaj has taken over as the next CII president on Thursday. It is Bajaj8217;s second innings as CII president as vice-president Vijay Kirloskar expressed inability to take over as the president due to health reasons. SRF vice chairman and managing director Arun Bharat Ram is the new vice-president.

MTNL net profit up by 16.57

NEW DELHI: State-owned Mahanagar Telephone Nigam Ltd MTNL today announced a 16.57 per cent jump in its net profit for the year 1998-99 to Rs 1,317.28 crore as against Rs 1130.13 crore in 1997-98 on a paid-up capital of Rs 630 crore. The income from services also rose by 12.72 per cent during 1998-99 to Rs 5246.8 crore from Rs 4654.59 crore. The company had projected a turnover of more than Rs 5,000 crore for this year which has been achieved.

LIC records 11.4 growth in policies

MUMBAI: Life Insurance Corporation LIC has recorded 11.5 per cent growth in individual policiesfor the fiscal year 1998-99, the best result in the last eight years, LIC Chairman G Krisnamurthy said. In terms of absolute business, 148.44 lakh new individual policies were sold for a sum assured of Rs 75,316.28 crore, registering a growth of 18.4 per cent. New business premium income of Rs 2,690.60 crore under individual life assurance business registered the highest growth rate for the decade at 28.2 per cent. Individual pension business grew at a 63 per cent with sales of 1,05,638 policies generating first premium income of Rs 111.14 crore, higher by 131 per cent over the previous year.

BHEL Q3 net profit drops 58 pc

NEW DELHI: Bharat Heavy Electricals Ltd8217;s BHEL8217;s unaudited results for the last quarter of 1998-99 reveal a net profit of Rs 292.88 crore, which is a drop of almost 58 per cent from the figure of Rs 460.53 crore in the last quarter of 1997-98. In the annual audited results for 1998-99 announced early this month, the company had announced a net profit of Rs 574.7 crore, whichwas a drop of 25 per cent over the figure of Rs 719.53 crore in 1997-98. In the last quarter of 1998-99, the company recorded net sales of Rs 3,019.40 crore, which is a jump of about 11 per cent over the previous quarter of Rs 2,735.61 crore. During the quarter, the company recorded an other income of Rs 106.30 crore.

BSE to remain closed on Friday

MUMBAI: The Bombay Stock Exchange BSE will remain closed on April 30 and May 1, 1999 on account of Buddha Pournima8217; and Maharashtra day8217; respectively.