The Telegraph
Since 1st March, 1999
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Business Briefs

Oil PSUs to pay Rs 2500 cr

New Delhi, Jan. 2: State-owned oil firms will pay over Rs 2,500 crore interim dividend to the government to help bridge its fiscal deficit arising out of a shortfall in disinvestment proceeds. Oil and Natural Gas Corporation (ONGC), Indian Oil, Gail and Bharat Petroleum will declare interim dividends for 2002-03 this month. ONGC, which is expecting a profit of over Rs 8,200 crore this fiscal, is likely to pay close to Rs 1,000 crore as interim dividend.

RIL Q3 results

Mumbai, Jan. 2: Reliance Industries Limited (RIL) will announce its unaudited financial results for the third quarter ended December 2002, on January 31. Meanwhile, following an increase in global crude prices, it has raised polymer prices by 9.3 per cent to a high of 16.6 per cent.

Sun Pharma

Mumbai, Jan. 2: Sun Pharmaceuticals Ltd will buy back up to 25 per cent of its paid-up capital at a maximum price of Rs 750 per share (of Rs 10 each) for an amount not exceeding Rs 120 crore to enhance shareholder value.

HPL production

Calcutta, Jan. 2: Haldia Petrochemicals Limited (HPL) has clocked a 102 per cent capacity utilisation with highest ever polymer production of 62,000 tonnes in December 2002, achieving a turnover of Rs 310 crore and an EBDIT of Rs 42 crore.

SAIL output

New Delhi, Jan. 2: Steel Authority of India Ltd (SAIL) has reported a growth of 7 per cent in production of saleable steel at 7.34 million tonnes during April-November 2002 over the corresponding period last year.

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