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Corporate Briefs

ACC sells stake in BAIL

ACC has divested its 19.56 per cent equity stake held in Bridgestone ACC India Ltd (BAIL) to Japan-based Bridgestone Corporation at Rs 16.5 per share aggregating Rs 49.99 crore. The disinvestment transaction was completed today after obtaining requisite approvals from FIPB and the RBI, ACC informed the Bombay Stock Exchange. ACC had decided to focus on cement and related business and exit from other businesses.

NIIT tieup

NIIT and Indonesia’s University of Atma Jaya have teamed up to set up a high-tech computer education centre at its University campus in Yogyakarta in Indonesia.

Whirlpool launch

Whirlpool has launched Magic Dry range of washing machines. It is priced at approximately Rs 20, 800.

Colgate net up

Colgate-Palmolive (India) has announced a 33 per cent increase in net profit for the third quarter ended December 31, 2002, to Rs 21.1 crore against Rs 15.9 crore in the previous corresponding period.

Saindhav salt

Clarity Salt has launched Saindhav brand of rock salt. It is priced at Rs 10 for a 500 gram pack.

GTN Textiles

GTN Textiles Limited has reported a 245 per cent increase in profit before tax at Rs 3.48 crore during the third quarter ended December 31, 2002, compared with Rs 1.01 crore in the previous corresponding period. For the nine months ended December 31, its profit before tax increased to Rs 9.12 crore compared with Rs 3.49 crore in the previous corresponding period.

Patspin profit

Patspin India Limited has reported a 63 per cent increase in profit before tax to Rs 2.58 crore for the third quarter ended December 31, 2002, compared with Rs 1.58 crore. The profit before tax for the nine months ended December 31 was at Rs 6.80 crore compared with Rs 4.52 crore in the previous corresponding period.

L&T division

EmSyS, a business unit of the electrical & electronics division of Larsen & Toubro, was assessed for SEI CMMI Level 5, a release said.


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