Bhel pays record dividend
Bharat Heavy Electricals Limited (Bhel) has paid the highest ever dividend of 40 per cent to the government for the fiscal 2001-02. Bhel chairman and managing director K. G. Ramachandran presented a cheque for Rs 66.3 crore corresponding to the government’s 67.72 per cent equity in Bhel to minister for heavy industry and public enterprises Balasaheb Vikhe Patil.
J&K Bank net
Jammu and Kashmir Bank has reported a 35.51 per cent growth in net profit at Rs 146.99 crore during the first half of this fiscal compared with Rs 108.47 crore during April-September 2001. The operating profit of the bank was up by 41.38 per cent to Rs 263.06 crore during the first six months from Rs 186.06 crore in the year ago period.
DSP Merrill Lynch Mutual Fund has declared a dividend of Re 0.40 per unit for its Bond Fund, Re 0.48 per unit for the Government Securities Fund-Plan A and Re 0.26 per unit for the Government Securities Fund-Plan B.
The State Bank of India (SBI) plans to inter-link its 3000 branches in major cities and go online from April 1, 2003 to provide ‘Anytime Anywhere’ banking facilities to its customers.
Vysya Bank Limited has signed a memorandum of understanding with Mahindra and Mahindra Limited to finance tractors in South India and disburse credit to the tune of Rs 2.5 crore to 60 farmers to mark the launch of the strategic business alliance.
BPL Telecom has targeted to reach a turnover of Rs 500 crore by the next financial year while achieving a high 10 per cent market share for its newly launched personal computer business.
Indo Rama has bagged the ‘First Winner Award’ by the Indian Cotton Mills Federation for ‘excellence in IT applications in textiles’ for 2000-01. The award carries a citation as well as Rs 2 lakh in cash and acknowledges the information technology initiatives undertaken by the company to meet challenges of globalisation and increasing competition.
Visa debit card
Syndicate Bank has tied up with Visa International to launch Visa Electron debit cards in India. It has targeted to issue one million such cards in the next three years. With this, Syndicate Bank has become eighth member bank in India of Visa International to issue Visa Electron in the country.
Vocaltec has received an additional $ 1 million order from data access for its packet tandem switching solution. Additional equipment will provide data access with expanded capacity in its existing network operation centres located in four metropolitan as well as new points of presence in three cities.