HITTING THE ROOF
Article Abstract:
The groundnut oil price increased to Rs635 per 10 kg on October 16, 1998 (compared to Rs350 per 10 kg in corresponding period of 1997). The price difference of Rs285 per 10 kg works out to 82 percent over the year. The Government of India, to bring down prices, allowed edible oil imports under Open General Licence (OGL) and also reduced the import duty by 10 percent. Other edible oils like palmolein also increased to Rs386 per 10 kg (Rs264 per 10 kg). India imported 2 lakh tonnes of edible oil in the first half of October 1998. The production of groundnut in Gujarat is likely to be 22 lakh tonnes. Gujarat State has banned the inter-state movement of the groundnut oil and this has led to price rise in other states. Groundnut oil was available in Gujarat for Rs490-495 per 10 kg compared to Rs625-630 in Mumbai. The soyabean output is likely to be 62 lakh tonnes in 1998-99 against 55 lakh tonnes in 1997-98. (rk)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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A TEN YEAR ITCH
Article Abstract:
SmithKline Beecham Consumer Healthcare with a current turnover of Rs650 crore, proposes to become a billion dollar company in another ten years time. To achieve this goal, the company has adopted the policy of its parent, Simply Better. This maxim was tried and tested in its parent company abroad. Apart from its flagship brand, Horlicks, SmithKline Beecham has ventured into oral care with Aquafresh toothbrush, over the counter (OTC) products with ENO and the recently acquired Crocin. Horlicks has been extended to Junior Horlicks and Horlicks Mother. The company claims to hold a 50 percent market share of nutritionals in India. It has also introduced Ribena, an amla drink emphasising the vitamin C element. The company has also stepped up investments in factories, advertising and human resources to make it a billion dollar entity. (uh)
Comment:
Proposes to become billion-dollar co in another 10 years time & adopts policy of parent, Simply Better, to achieve this goal
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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( PUNJAB TRACTORS
Article Abstract:
Punjab Tractors Ltd (PTL) makes the Swaraj brand of tractors. It also has a share in the replacement market. It has no investments in unrelated businesses. PTL has used its profits to expand its production. It has announced rights and bonus issues. About 75 percent of its equity consists of bonus shares. Its sales increased by 29 percent at 12,000 units in the first quarter ended June 30, 1998. Its net profit rose by 52 percent at Rs279 million in the same period. Its scrip is being traded at Rs774.15. (uh)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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