Bizbits

BOB depository services

MUMBAI: Bank of Boarda has launched its depository services in Mumbai as depository participant of National Securities Depository Ltd NSDL. Inaugurating its first depository services department set up at the ground floor of Jeejeebhoy Towers, New Stock Exchange Building, Dalal Steet, K Kannan, chairman and managing director of the bank informed that the depository services will be soon extended to other cities.

HFCL net profit rises by 154 pc

MUMBAI: Himachal Futuristic Communications Ltd HFCL has posted its best ever performance with net profit spurting by 116 per cent and net profit by 154 per cent for the year ended March 1999. The directors have recommended a dividend of 10 per cent against 7 per cent. The turnover has risen to Rs 392.11 crore from Rs 181.79 crore. It has earned a net profit of Rs 35.95 crore against Rs 14.14 crore. HFCL chairman Vinay Maloo said the company has orders worth Rs 750 crore on hand to be executed in the next 18months.