THE FERRARS OF THE FINANCIAL WORLD
Article Abstract:
The Industrial Credit & Investment Corporation of India (ICICI) is reportedly moving at a fast pace and leaving its competition far behind. During 1997-98, ICICI sanctioned and disbursed more money than market leader, Industrial Development Bank of India (IDBI), even though IDBI is still bigger in absolute terms. ICICI borrowed more rupees while IDBI's dollar borrowings were higher. However, its profit after tax for 1997-98 at Rs1,081 crore was lower than that of IDBI's at Rs1,501 crore and SBI's at Rs1,861 crore. In April 1997, ICICI was the first financial institution to lend for working capital. ICICI lent around Rs4,400 crore in short term loans which accounted for 28 percent of its total loan portfolio. ICICI approved loans to power, telecom, roads and ports sector worth Rs7,500 crore which formed around 33 percent of all its sanctions. ICICI has acquired the Rs240 crore ITC Classic Finance and the Rs257 crore Anagram Finance which brought in an established network of 70 branches with 1,500 agents selling fixed deposits and an additional 950,000 depositors into ICICI's fold. ICICI plans to raise the contribution of retail resources to around 20 percent during 1998-99, to between 25 percent and 30 percent by 2000 AD and finally to 33 percent of the liabilities port folio. After JP Morgan and ICICI parted ways in early 1998, ICICI has negotiated with and all set to shorlist five global majors for doing business on a deal to deal basis. ICICI fixes its target on a monthly basis and it is the only institution to publish audited results on a quarterly basis. (tsm)
Comment:
Reports profit after tax of Rs1,081 crore in for 1997/98
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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T-SERIES TRILLS A FILMY TUNE
Article Abstract:
T-series, a music company which depended only on devotional and regional music, has acquired the music rights for six forthcoming Hindi films. With these films, T-series has music rights for 35 films, collectively valued at Rs53 crore making it the leader in the industry. T-series released 10 movies during 1997 of which only three - Aflatoon, Saat Rang Ke Sapne and Pyar Kiya To Darna Kya - were profitable. T-series total investment in its most successful film venture, Pyar Kiya To Darna Kya, stood at Rs1 crore which included the audio rights, manufacturing and marketing costs. Its net return on the same was Rs60 lakh. T- Series has been entered into this segment due to higher margins. Even dealers and distributors reportedly make more money from movie music where volumes too are higher. T-series passes on Rs13 per cassette to retailers for movie music but only Rs9 for devotional and regional music. (tsm)
Comment:
Acquires music rights for 6 forthcoming Hindi films
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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NATIONAL EXPRESSWAYS: ROADS TO NOWHERE
Article Abstract:
The Government of India has proposed to lay 2 expressways of 7,000 km each. The project had been estimated to cost Rs28,000 crore. According to revised estimates, the project will cost around Rs70,000 crore. The north-south expressway is to run from Jammu to Kanyakumari via Delhi, Bhopal, Hyderabad, Bangalore and Coimbatore. The east-west expressway is to run from Silchar to Somnath via Calcutta. These expressways do not touch the high density stretches of the golden quadrangle or the national highways linking the 4 metros. So, the project is uneconomical. The National Highways Authority of India gets around Rs2,000 crore through budget allocation and has access to the Rs790 crore petrol cess. It is likely to get Rs3,000 crore from the proposed Re1 cess on every litre of diesel. All this amounts to Rs6,000 crore. Also, Rs42,000 crore is needed for the 4-laning of the golden quadrangle. (tsm) (kvr)
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1999
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