Bizbits

Moser Baer net rises by 55 per cent

NEW DELHI: Computer disc maker Moser Baer India today said its profits after tax during 1998-99 grew by 55 per cent to Rs 20.44 crore as against Rs 13.20 crore last year. The sales turnover during the period rose to Rs 101.28 crore as against Rs 71.80 crore, showing a growth of 41 per cent, the company said in its audited results released here. The board has recommended a dividend of 15 per cent.

Prohibition of Bata lockout stayed

CHANDIGARH: Punjab and Haryana High Court has stayed a Haryana government order prohibiting lockout in the footwear major Bata8217;s Faridabad plant. The stay was granted recently by a division bench, comprising Justice NK Sodhi and Justice NK Sood on a petition by the company challenging the order. Labour Commission of Haryana government had asked the company not to continue with the lockout declared in February last vide its order on August 19. In its brief order the court said quot;operation of impugned order datedaugust 19, 1999 is stayed,quot; and adjourned the hearing till November 1.