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Corporate Briefs

Marico Q3 net at Rs 13.9 cr

Marico Industries Ltd has reported a higher consolidated net profit at Rs 13.92 crore for the third quarter ended December 31, 2002, compared with Rs 12.16 crore in same period last fiscal. The board has also declared a third interim dividend of 10 per cent on equity share capital for 2002-03 and a pro-rata dividend on 8 per cent bonus redeemable preference shares for September 30 to March 31, the company informed the Bombay Stock Exchange. Total revenues on a consolidated basis in the third quarter increased to Rs 206.25 crore against Rs 183.65 crore in same period of last year.

I-flex move

I-flex Solutions has announced that United Bank for Africa Plc, one of the leading banks in Nigeria, has gone live on Flexcube electronic bill presentation and payment.

Simtech plan

Tata Consultancy Services (TCS) and the Singapore Institute of Manufacturing Technology (Simtech) have developed a next generation industrial controller, Smartbox, for distributed, collaborative, complex and mission critical control applications.

ITI rating

Fitch Ratings India has assigned an in-principle AAA(Ind)(SO) rating to the Rs 5 bn series I and Rs 15 bn long-term secured taxable redeemable bond programme of ITI Limited. The rating outlook is stable, a press release said.

Metro-Optix

Metro-Optix has identified its R&D Centre in Bangalore as the strategic development centre. It is looking at investing up to $ 4 million in the R&D Centre over a period of two years, a company release said.

Nucleus order

Nucleus Software Exports Ltd has bagged an order from Bank of Philipines Islands for its Finnone Web collections and recovery management systems, a company release said.

Bend-Pak

Bend-Pak Ranger Equipment Pvt Ltd has started producing two-post, four-post, standard pit lifts in Calcutta in collaboration with US-based Bend-Pak Inc.

Ralson CP

Crisil has upgraded cycle tyre maker Ralson (India) Ltd’s Rs 6-crore commercial paper (CP) programme from P1 to P1+, indicating highest safety.

Beetel launch

Beetel has launched Walk-Clip and Millennium Clip-Max telephones at Rs 2995 and Rs 1295, respectively. Walk-Clip is the first caller line identification (CLI) cordless phone from an Indian company. Millennium Clip-Max is the first indigenously designed and manufactured CLI feature phone with two-way speaker, a release said.

Kotak dividend

Kotak Mahindra Mutual Fund has declared a dividend of Re 0.0635 per unit and Re 0.0110 per unit for investors under the K Bond Short Term Plan and K Liquid Plan respectively, a release said.


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