Wednesday, October 28, 1998
HLL Q3 net up to Rs 223 cr
FMCG major, Hindustan Lever Ltd (HLL) has reported a 43.3% increase in its net profit to Rs 223.37 crore (Rs 155.90 crore) for the third quarter ended September 30, 1998. For the first nine months of the year, its net was up by 39.8% to Rs 576.33 crore (Rs 412.18 crore). Meanwhile, the company plans to divest its animal feeds and dairy businesses.
SEBI chips in to bail out Unit Trust of India
The sudden and inexplicable move by the Securities and Exchange Board of India (SEBI) to raise the creeping acquisition limit from 2% to 5% threshold limit for making open offer from 10% to 15% has raised several eyebrows. On the face of it, these changes in the takeover code appear innocuous and aimed at reversing sagging fortunes of the corporate sector. However, on closer examination, the Unit Trust of India (UTI) -- which is resisting moves to come under the SEBI control -- seems to be the beneficiary of the market regulator's decision.
Intel identifies 6 IT firms for equity investment
Intel's chief executive officer and president, Dr Craig R Barrett has offered the world's largest chip maker's support to supplement India's efforts on the information technology (IT) front by creating a venture capital fund. The venture capital fund would catalyse small ventures with big ideas, Barrett said.
|
|
