J&K Bank net up 35%
J&K Bank’s operating profits for the first quarter ended June 30, 2003, has increased 43.7 per cent to Rs 166.78 crore over the corresponding period of the previous year. The net profit of the bank was up 35.06 per cent to Rs 97.65 crore against Rs 72.30 crore of the corresponding period of the previous year. The total income of the bank has increased by Rs 66.19 crore to Rs 457.09 crore during the quarter. The total business of the bank has increased 20.09 per cent over the corresponding period of previous year. The credit portfolio of the bank has registered an increase of 21.70 per cent and the deposits have increased 19.25 per cent during the reporting period. The investment portfolio has increased by 24.04 per cent as on June 30, 2003, over the corresponding previous period.
Reliance IndiaMobile has launched voice tones on its handsets. Voice tones enable the user to hear ‘the phone talking’ when he gets a call, instead of normal ring tones.
Godrej No. 1, the flagship brand of Godrej ConsumerProducts, is now the largest selling grade-I soap. Grade-I is the highest category laid down by the Bureau of Indian Standards (BIS). The TFM (total fatty matter) content is 76 per cent (minimum) with the least number of additives, thus making it a pure soap. Godrej No.1 has a volume market share of 3.6 per cent according to ORG-Marg data.
IBM India has tied up with Benz Infotech as a Linux services and solution partner in India. The tieup will help the company deliver end-to-end Linux solutions to customers here.
Paints major ICI will focus on the exterior paints category through its international brand — Weathershield.
Glenmark Pharmaceuticals Ltd has set up a wholly-owned subsidiary in the US to step up the presence of the company’s formulations and active pharmaceuticals ingredients in that market.
F. W. Langguth has entered into a strategic partnership with Amrut Distilleries to foray into the Indian wine market.
Taj Exotica Resort & Spa, Maldives, has been jointly awarded the title of The Best Resort in the World in the Harpers and Queen Travel awards.
Templeton India Mutual Fund's Short Term Income Plan's asset size has grown by over 280 per cent to Rs 1,168 crore since July 31, 2002.
The Leela Hotels group is holding discussions with Anan Resorts of Singapore to set up an exclusive resort in Kannur in north Kerala, even as it has launched a joint venture for a business park for software companies near the international airport.