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

Strategy & planning, Investment Banking, Investment banks, Sundaram Finance Services Ltd.

---

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

Securities Dealers, Sales, profits & dividends, Discount and Financing House of India

---

Similar abstracts:

• Abstracts: STATE BANK OF TRAVANCORE POSTS 57% RISE IN NET PNB POSTS 111% RISE IN NET PROFIT IOB POSTS 8% RISE IN NET PROFIT
• Abstracts: GINNI FILAMENTS LIMITED L&T POSTS 60% RISE IN Q3 PROFITS. L&T POWERS AHEAD WITH 29% RISE IN NET
• Abstracts: LIC HOUSING FIN REGISTERS 38% RISE IN NET PROFIT LIC HOUSING RECORDS HIGHER PROFIT IN H1. A REPORT CARD ON HOUSING FINANCE: LIC HOUSING FINANCE LIMITED
• Abstracts: `ALL FOUR GIC OUTFITS SHOULD BE MERGED INTO PARENT' FOREIGN STAKE IN INSURANCE MAY BE CAPPED AT 26%
• Abstracts: PIAGGIO GREAVES TO ROLL OUT NEW 3 WHEELER IN `99. CROMPTON GREAVES LAUNCHES AC GENERATORS GREAVES TO DIVEST NON-CORE BUSINESSES

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.