HM posts Rs 61cr profit

Hindustan Motors has posted an after-tax profit of Rs 61.20 crore for the 15-month extended accounting year ended June 30. Last year, the company had suffered a net loss of Rs 80.83 crore. Net sales during the period has improved to Rs 1048.64 crore from Rs 729.20 crore in the previous year. The company has also changed some of the accounting policies.

Suzlon move

Suzlon Energy is planning to set up a manufacturing facility for wind turbine generators and its components in China at an estimated investment of Rs 220 crore. The company will come up with an IPO to fund the proposed project. It has identified Hitech Industrial Park in Tianjin province in China for setting up its plant.

ICICIPru Life

ICICI Prudential Life Insurance has posted a quarter-on-quarter growth of 57 per cent notching up an annualised premium of Rs 265 crore in April-June 2005. Of this, Rs 52 crore comes from group business premia. The company has underwritten 1,11,522 policies over the period with a total sum assured of Rs 2,619 crore.

Forbes centre

Forbes Marshall have set up a state-of-the-art steam engineering center in Sri Lanka, in partnership with the University of Perideniya, one of Sri Lanka?s leading educational institutions. A joint panel of experts from the university and Forbes Marshall will impart specialised training in steam engineering to graduate engineers and working professionals.

StorageTek

Storage Technology Corporation?s information storage system, StorageTek, has been named as the country?s leader in tape automation by analyst firm IDC. StorageTek has a marketshare of 25.3 per cent in India.