SFSL PLANS TO QUIT MERCHANT BANKING
Article Abstract:
Sundaram Finance Services Ltd (SFSL), promoted by Sundaram Finance Ltd, has decided to exit from merchant banking operations due to slowdown in the primary markets. SFSL will surrender its category I licence. It plans to focus on fund-based activities, loan syndication, private placement and corporate advisory services. The company's net profit decreased to Rs1.77 crore in 1997-98 (Rs2.01 crore in 1996-97). (khr)
Comment:
Has decided to stop merchant banking operations due to slowdown in the primary markets
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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DFHI POSTS 26.5% RISE IN NET PROFIT
Article Abstract:
The Discount and Financing House of India has increased its net profit by 26.5 percent to Rs67.91 crore in 1997-98 against Rs53.65 crore in 1996-97. It has maintained a dividend of 14 percent for 1997-98. Its total income was Rs236.49 crore in 1997- 98 against Rs234.23 crore in 1996-97. Its increased trading in dated securities reduced income from discounting T-bills to Rs16.70 crore from Rs74.03 crore. (khr)
Comment:
Raises net profit by 26.5% to Rs67.91 crore in 1997-98 vs Rs53.65 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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