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Corporate Briefs

PNB Housing alliance

PNB Housing Finance has signed an agreement with United India Insurance for offering fire and personal accident insurance to consumers taking home loan from the company. The subsidiary of Punjab National Bank has signed memorandum of understanding with the insurer for coming up with a ‘Unihome Care Policy,’ which would offer coverage against fire, earthquake and allied perils and the risk of borrowers life due to accident without charging additional premium on the home loans.

Karnataka Bank

The board of Karnataka Bank Ltd has approved a proposal to issue one bonus share for every one equity share held by shareholders. The board also gave its nod to offer one equity share of (Rs 10 each) at Rs 25 per share on rights basis to the existing shareholders for every one share held on the record date (to be fixed later), the bank informed the Bombay Stock Exchange.

Thomas Cook

Thomas Cook India Ltd has reported a 56.05 per cent increase in its net profit to Rs 5.44 crore for the quarter ended July 31 compared with Rs 3.48 crore profit in the corresponding period last fiscal. Income from domestic operations increased from Rs 23.27 crore for quarter ended July 31, 2001 to Rs 25.83 crore for quarter ended July 31, 2002.

Talisma Corp

Talisma Corporation, a provider of Customer Relationship Management (CRM) Solutions has launched its new business initiative, Talisma Expert Services, that offers a series of CRM related outsourced services.

Ircon turnover

Ircon International Ltd has announced a record turnover of Rs 900 crore during 2001-02 and paid a highest-ever dividend of 350 per cent. Ircon, which announced a profit before tax (PBT) of Rs 127 crore during the period under review, said in the last two years, the turnover has grown by 69 per cent with PBT growing 100 per cent.

Cisco Systems

Cisco Systems Inc has announced that Hewlett-Packard Co, Panduit Corporation and Sun Microsystems have each sponsored new curriculum to enhance the offerings of the internationally Cisco networking academy programme. The new curriculum is available to Cisco’s 70 networking academies across 15 states in the country.

HCL pact

HCL Infosystems will offer a multi-lingual proofing for nine Indian languages in alliance with Microsoft Corporation. The languages are Hindi, Tamil, Kannada, Gujarati, Telegu, Marathi, Gurumukhi, Sanskrit and Konkani, a release said.

Tube buyback

The board of Tube Investments India Ltd has approved a proposal to buy back a maximum of 61,55,769 equity shares, representing 25 per cent of the capital at a price not exceeding Rs 100 per share.

AIMA event

The All India Management Association (AIMA) will organise the 29th National Management Convention in Calcutta from 12-14 September.


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