Britannia profit rises

Britannia Industries Ltd?s operating profit was recorded at Rs 176 crore for the year ended March 31, 7 per cent higher than that in the previous year. The company recorded gross sales of Rs 1, 818 crore against Rs 1,615 crore in the previous fiscal, registering a growth of 13 per cent. The board has recommended a dividend of 150 per cent, or Rs 15 per share, for the year. Register of members and share transfer books will remain closed from July 12 to July 20 to ascertain the members entitled for the payment of the dividend.

Thermax deal

Thermax Ltd has secured a Rs 140-crore order for a 2x25-mw cogeneration plant from a PVC and caustic soda manufacturer in Tamil Nadu. The company has bagged another order worth Rs 150 crore from a Calcutta-based power utility company and a repeat order from a south Indian cement manufacturer for an 18-mw unit to be set up in Andhra Pradesh.

Jindal Poly

Jindal Poly Films will invest Rs 300 crore to treble its manufacturing capacity, which is likely to be raised through a combination of public issue, internal accruals and debts. After the expansion, the company?s capacity will increase to 1.35 lakh tonnes per annum of films from 45,000 tonnes per annum now.

Bluplast IPO

Bluplast Industries Ltd is entering the capital market with a public issue of 1,10,00,000 equity shares of Rs 10 each for cash at a price of Rs 32 per share. Of this, 10,00,000 shares will be reserved for employees.

Clariant Chem

Clariant Chemicals (India) Ltd has posted profit after tax of Rs 40.4 crore for the fiscal ended March 31. The company registered net sales of Rs 851 crore in the fiscal. The board has recommended a dividend of 110 per cent, or Rs 11 per equity share.

Prime Focus

Prime Focus Ltd?s IPO, which opened on May 25 and closed on May 31, was oversubscribed 1.29 times. The company had entered the capital market with an IPO of Rs 100 crore with a green shoe offering of Rs 15 crore.

Citigroup

Citigroup has recently launched Citigroup Private Bank, which will offer wealth management services to customers whose net worth stands at a minimum of $10 million or Rs 49-crore.

Lexus Motors

Lexus Motors has topped the chart of Tata Motors dealers in India. It has sold 1,150 vehicles in 2005-06, which was 15 per cent higher than its nearest competitor.

Hero Cycles

Hero Cycles Ltd has set a target of 10 crore bicycles in 20 to 22 years. The company had manufactured 10 crore cycles in the last 50 years.