MODI RUBBER LIMITED
Article Abstract:
Modi Rubber Ltd posted a net loss of Rs2.86 crore on a sales turnover of Rs830 crore in 1997-98 against a net loss of Rs24.91 crore on a turnover of Rs1126 crore in 1996-97, which was of 15 months duration. The company has been targeting the truck tyre replacement market and has introduced 8 new tyre models to suit different categories of vehicles. It is planning to enter the light commercial vehicle tyre market soon. The company has been exporting tyres to the US, Russia, Pakistan, Sri Lanka and some Middle East countries. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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MODIS HIT PRICE BLOCKADE ON MODI RUBBER FI STAKE
Article Abstract:
The financial institutions (FIs) hold 44 percent stake in Modi Rubber Ltd (MRL). The promoters of MRL, BK Modi and VK Modi, have offered to buy the FIs' stake at a price of Rs58 per share. The FIs are not willing to sell their stake below Rs130 per share. They have not set a sale price yet. If the negotiation fails they may divest their stake through a public offer. Unit Trust of India, Industrial Finance Corporation of India, Industrial Development Bank of India and ICICI together hold 44 percent stake in MRL. (rk)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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MODI RUBBER POSTS Rs2.38 CR Q3 NET PROFIT
Article Abstract:
Modi Rubber Ltd has posted net profit of Rs2.38 crore for the quarter ended December 31, 1998 (a loss of Rs3.53 crore for the quarter ended December 31, 1997). It recorded net sales of Rs229.32 crore (Rs204.88 crore) and profit before tax Rs2.38 crore (Rs3.53 crore loss). (gs)(psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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