CMC package
MUMBAI: The public sector CMC has launched an insurance application software package, Genisys. The package has been selected by the New India Assurance Company for its enterprise-wide deployment. Genisys is an integrated application software to suit the requirements of the divisional and branch offices of insurance firms.

Torrent Gujarat
MUMBAI: Torrent Gujarat Biotech Ltd has registered pre-financial losses of Rs 18.43 crore during 1997-98. The loss is essentially owing to a drop in sales and a 11 per cent decline in penicillin G output owing to low yields and a 19-week restriction in production imposed by the Gujarat high court. Net losses for the year was Rs 56.74 crore. Sales fell 30per cent to Rs 67.79 crore, chiefly owing to a 35 per cent reduction in the average per unit sales realisation of Pen-G.

UTI's US 1995
MUMBAI: UTI has declared an income distribution of 13.5 per cent for the year ended June 30 on Unit Scheme 1995; an income distribution of 12 per cent on a pro-rata basis for Grihalakshami Unit Plan; and 14 per cent per annum for IIFUS '95. In case of senior citizens, the fund will pay 12 per cent to all unitholders as on June 30 and 12 per cent to those who have completed 58 years as on June 30, 1998.