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Corporate Briefs

Andhra Bank net up 99%

Andhra Bank’s net profit grew 99 per cent in 2002-03 at Rs 402.99 crore during the year against Rs 202.27 crore in the previous year. The bank’s total business was recorded at Rs 32,961 crore (total deposits at Rs 21,062 crore and gross bank credit at Rs 11,899 crore) against Rs 28,472 crore, registering a growth of 15.77 per cent.

Wipro pact

Wipro Ltd and Dubai-based eHosting Datafort have signed an MoU to offer disaster recovery solutions. The two companies will together offer comprehensive solutions covering disaster recovery planning, implementation and management to their customers.

UTI Bank

UTI Bank has launched Power Salute — a special salary saving account scheme — for the defence personnel of the country.

Art paper

Storaenso, a leading global forestry, pulp and paper company, recently launched its premium coated-art paper in Calcutta. The product is doing well in the rest of the country. In India, the company has a branch office in Gurgaon.

Taylor Nelson

Taylor Nelson Sofres plc (TNS), a world leader in market information, has entered into an agreement for the proposed acquisition of NFO WorldGroup Inc. (NFO) from the Interpublic Group of Companies, Inc. for $ 425 million.

Lemuir pact

Lemuir group, the logistics solutions company, and DHL Danzas Air and Ocean, the logistics arm of Deutsche Post of Germany, have formed a joint venture to provide solutions for inbound and outbound freight, customs clearance, warehousing and distribution in the country.

SriLankan Air

SriLankan Airlines has announced new flights to Kochi. It will fly thrice-a-week between Kochi and Colombo. The flights are scheduled on Tuesdays, Thursdays and Fridays.

L&T tieup

Larsen & Toubro Ltd has entered into a technical collaboration with Japanese engineering conglomerate Kobe Steel Ltd for manufacturing of hydraulic tyre curing presses. The presses will be in the Curex-SI series and would be manufactured in Chennai.

Wipro alliance

Wipro Technologies and HighJump Software have announced a strategic alliance to offer complete, integrated multi-domain solutions in supply chain execution market worldwide.

Shahnaz launch

Shahnaz Herbals has launched Immunity Enhancer capsule and Immunity Enhancer gel, a release said.

Club Mahindra

Timeshare and Club Mahindra has opened its first international resort in Bangkok taking the number of such holiday spots under its umbrella to nine.


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