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Deccan Herald » Business » Detailed Story
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AT A GLANCE
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Hexaware’s net profit up 102 pc
Backed with new business orders, Hexaware Technologies has posted a 101.64 percent increase in consolidated net profit at Rs 23.23 crore for the quarter ended March 31, 2005 compared to Rs 11.52 crore for the quarter ended March 31, 2004.
Total income grew to Rs 166.92 crore in the reporting quarter against Rs 118.06 crore in the corresponding period of last year, the company said in a release.
On a standalone basis, the company registered growth in net profit at Rs 10.29 crore for the quarter ended March 31, 2005 compared to Rs 8.04 crore for the quarter ended March 31, 2004. Total income increased to Rs 78.28 crore for the reporting quarter against Rs 58.80 crore corresponding period last year, the company said.
Chola MF launches new equity fund
Murugappa group-promoted Chola Mutual Fund has launched an open-ended equity fund ‘Chola Global Advantage Fund’, reports DHNS from Mumbai. The equity fund will have a diversified portfolio and invest in Indian companies that are expanding their business in global market, according to company officials.
Chola has identified 123 companies which are expecting at least 20 per cent of their revenues from exports over the next three years for investment. The initial offer for subscription will open on April 19 and will close on May 16, 2005. The company official, however, did not disclose the amount it would like to collect through the offer.
US firm picks 7.5% in Adlabs for $6 m
US-based equity firm BSMA Ltd has picked up a 7.5 percent stake in Adlabs Films Ltd for $6 million. The investment was made at Rs 150 per share amounting to 7.5 percent on the post-issue equity capital of the company, Adlabs said in a release.
The proceeds would be utilised for expansion plans of the multiplex division of Adlabs, it said. The company is undertaking a national expansion and is targeting to set up 30 multiplexes with 150 screens across the country in next 4-5 years.
Adlabs plans to add two new multiplexes in Mumbai, one in Delhi, two in Hyderabad and one in Kolkata. The company would add 22 screens by the end of 2005 taking the total operating screen count to 40, it said.
ING Vysya MF’s mid-cap fund
ING Vysya Mutual Fund has launched mid-cap fund and the initial public offer (IPO) for the same which opened on Tuesday and closes on May nine. This open-ended equity scheme would invest primarily in mid cap stocks within the market capitalisation range of Rs 100 crore to Rs 2,000 crore, ING Vysya Mutual Fund Manager (Equity Markets) Gaurav Narian said.
“This portfolio of mid-cap will comprise of about 35-40 stocks and the largest holding in the range of five to six per cent. The minimum investment is Rs 2,000 and in multiples of Rs 1,000,” he said.
KSFC net profit rises by 186 pc
Karnataka State Financial Corporation (KSFC) has reported a net profit of Rs 2.49 crore for the year 2004-05 as against the net profit of Rs 0.87 crore in the previous fiscal recording a rise of 186 per cent. Its recovery touched Rs 564.22 crore.
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Wednesday, April 20, 2005
