The Telegraph
Since 1st March, 1999
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Corporate Briefs

BPCL plans mart at pumps

Bharat Petroleum Corporation Ltd (BPCL) has sought shareholders’ nod to start selling consumer goods such as beverages, fast food, stationery, toiletries, toys, kitchen appliances, cassettes and electronic items at its petrol pumps and cooking gas (LPG) agencies. The state-run refiner has moved a special resolution, seeking shareholders’ consent through postal ballot, to carry out the new activity of merchandising consumer goods and family requirement items at the premises of the retail outlets, company sources said.

JM Mutual

JM High Liquidity Fund of JM Mutual Fund has been assigned ‘AAAf’ rating by Crisil. The rating indicates that the fund’s portfolio holdings provide strong protection against losses from credit defaults.

Wipro Infotech

Wipro Infotech, in association with Citrix and IBM, is organising a five-city roadshow across the country aimed at showcasing how organisations can optimise technology investments and reduce complexities. The roadshows will be held in Delhi, Bangalore, Chennai, Mumbai and Calcutta and are targeted at large and medium enterprises, which already have an ERP solution in place, or are planning to implement an ERP system.

First Flight

First Flight Couriers Limited has forayed into tours and travel business, which will be routed through their newly created division called First Flight Tours & Travels.

Nicholas CP

Nicholas Piramal India Ltd has raised Rs 35 crore through an issue of 90 day commercial paper (CP). It raised Rs 20 crore at 6.15 per cent while the balance Rs 15 crore was at 6.13 per cent. The issue is rated ‘A1+’ by Icra.

Bhel contract

Bharat Heavy Electricals Limited (Bhel) has bagged a Rs 41 crore turnkey contract from Nuclear Power Corporation of India Ltd. The state-owned company would set up a 400 KV switchyard for evacuating power from NPCIL’s Karnataka-based Kaiga Atomic Power Plant in order to feed the southern grid, a release said.

Ansal rating

Credit rating agency Icra has reaffirmed inadequate safety rating to the fixed deposit programme of Ansal Properties and Industries Ltd (APIL).

BoB Housing

Bank of Baroda’s (BoB) subsidiary BoB Housing Finance has declared a 12 per cent dividend for 2001-02. It posted a 30.13 per cent growth in its sanctions and 20.20 per cent rise in profit before tax in the last fiscal, a release said.

SAP India

E-business solution provider SAP India has signed a $ 19 million deal with Oil and Natural Gas Corporation Ltd (ONGC) for implementing the Information Consolidation for Efficiency project. The deal is aimed at consolidating the IT efforts at ONGC through the implementation of enterprise resource planning (ERP) package on SAP, a release said.

Tibre launch

Tibre has launched the Sanitized range of shirts and Pin Tucks range of trousers.

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