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Journalism of Courage
BANGALORE: Saturday trading is all set to make a debut on the Bangalore Stock Exchange BgSE from May 24. According to BgSE executive director Ramachandra, the board meeting of the bourse held here on Saturday formally approved the plan.
The BgSE move will make it the first bourse in the country to have six-day trading. The suggestion for this had come from member-brokers who felt that since most of the developments take place on Fridays there was no way for the markets to react. Marketmen had also felt that this would help the exchange steal a march over others like the BSE, NSE etc.
Bajaj Auto Fin
MUMBAI: Bajaj Auto Finance Ltd BAFL has reported a lower net profit of Rs 11.75 crore for the financial year ended March 1997, 40 down from last year8217;s Rs 18.15 crore. Total income, however, went up to Rs 53.89 crore from Rs 47.32 crore. It has declared 20 dividend.
Total expenditure for the year increased to Rs 10.85 crore from Rs 9.39 crore while depreciation was also higher at Rs 10.58 crore compared to Rs 8.98 crore. Gross disbursals for the year were Rs 249.80 crore, an increase of 32 from Rs 188.90 crorelast year.
BAFL disbursed Rs 111.60 crore under hire purchase schemes for the year against Rs 83.50 crore last year. Bills discounted totalled Rs 136.70 crore up from Rs 89.20 crore .
The release adds that the company substantially lowered its leasing activities following changes in the Income Tax Act. Hence, lease disbursements were down to Rs 1.50 crore from Rs 16.20 crore last year.
Raj. Spinning
MUMBAI: Rajasthan Spinning amp; Weaving Mills, flagship of the Rs 1,300 crore LNJ Bhilwara group has recorded 47 increase in net profit to Rs 8.04 crore in 1996-97 from Rs 5.45 crore last year. The board has recommended a dividend of 20 . The company has posted a turnover of Rs 426 crore in 1996-97 against Rs 396 crore last year.
Yarn exports have gone up from 7193 tonnes in 1995-96 to 7351 tonnes in 1996-97.
J L Morison
MUMBAI: J L Morison India Ltd, marketeers of the Nivea range of products has introduced Novea Boday8217;-pure talcum powder. The product is positioned for the entire family and is targeted at the young housewife with a household income of Rs 2,500 plus per month. The product is available in two fragrances namely, Bouquet and Freshness.
Popley Gold
MUMBAI: Popley Gold Plaza has set up the largest three-storeyed, exclusive gold and diamond jewellery showroom in the city. It houses a collection of 22 carat gold ornaments and 18 carat diamond jewellery from countries all over the world viz Dubai, Beirut, Itlay, Germany, Belgium and Hong Kong.
