M&M, TAFE LEFT IN THE FRAY FOR HMT's TRACTOR DIVISION
Article Abstract:
Although many companies had shown interest in acquiring the tractor division of HMT Ltd, only Mahindra & Mahindra and TAFE have bid for it. Sources say that their bids are significantly higher than the Rs135 crore quoted by Escorts Ltd when HMT floated an open tender in 1995. Market sources say that the bids, which are currently being evaluated, are in the range of Rs250- 300 crore. HMT's tractor division posted a profit before tax of Rs32.45 crore on sales of Rs404.97 crore in 1997-98. It is expected to register sales of Rs500 crore in 1998-99. (khr)
Comment:
Although many companies had shown interest in acquiring the tractor division of HMT Ltd, only Mahindra & Mahindra and TAFE have bid for it.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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EICHER BOARD RECOMMENDS 30% DIVIDEND
Article Abstract:
A dividend payout of 15 percent on preference shares and 30 percent on equity shares for 1997-98 has been recommended by the board of directors of Eicher Ltd. The company increased its turnover by 5.7 percent to Rs590 crore in 1997-98 against Rs558 crore in 1996-97. It posted a net profit of Rs24.5 crore against Rs26.1 crore. The turnover from its tractor business grew by 10 percent to Rs431 crore in 1997-98 while turnover from two- wheelers decreased by 12 percent to Rs101 crore. (khr)
Comment:
Recommends dividend payout of 15% on preference shares and 30% on equity shares for 1997-1998
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TAFE AIMS AT Rs1,500 CR TURNOVER
Article Abstract:
Tractors and Farm Equipment Ltd (TAFE), a leading tractor manufacturer, has about 20 percent share in the tractor market. It plans to sell about 60,000 tractors in 1998-99 to achieve a turnover of Rs1,500 crore in 1998-99. It has sold about 49,160 tractors in 1997-98. It hopes to post a turnover of Rs1,200 crore in 1997-98. It plans to set up a new tractor manufacturing plant in Madurai at a cost of Rs50 crore. It will have a capacity to produce over 1,500 tractors per month. (gs)
Comment:
Plans to sell about 60,000 tractors in 1998-99 to achieve a turnover of Rs1,500 crore in 1998-99
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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