Guj Ambuja Cements

MUMBAI: Colour-Chem has reported a net profit of Rs 1.42 crore for the third quarter of the current financial, a fall from Rs 1.75 crore posted in the corresponding period of last year. Net sales totalled Rs 60.91 crore, again lower than Rs 79.85 crore in the previous year’s third quarter. For the nine months ended December 1998, net profit was Rs 15.45 crore (Rs 33.69 crore) while sales aggregated Rs 227.50 crore (Rs249.76 crore). The previous year’s nine-month sales included a sum of Rs 30.38 crore relating to the textile dyes business which was assigned to DyStar India with effect from September 1, 1997.

Banner Pharma

MUMBAI: Banner Pharmacaps India has set up a state-of-the-art manufacturing facility in Bangalore at a cost of Rs 45 crore in collaboration with Banner Pharmacaps of the USA. The US company is a leading international manufacturer of soft gelatine capsules with plants operating in USA, Canada, Mexico and Holland. Banner is successfully operating a plant in Sarigam, Gujarat with an installed capacity of one billion capsules per annum. The Bangalore facility will have two billion capsules capacity per annum in the first phase, which can be further augmented to 4 billion capsules.

K Gilt scheme

MUMBAI: K Gilt scheme from Kotak Mahindra Mutual Fund, which invests only in risk free government securities, has posted a healthy growth in NAV. The NAV of the K Gilt Savings Plan is Rs 10.080and that of the K Gilt Investment Plan is Rs 10.096 as on January 25, 1999. Since the scheme has become open ended the saving plan has returned 9.64 per cent per annum and the investment plan has returned 11.09 per cent per annum.