A meeting of the board of Mirc Electronics Ltd will be held on January 30, 2003 to consider the audited financial results for the quarter ended December 31, 2002.
Bangalore-based information technology company Mphasis BFL Ltd will acquire Onida Infotech Services, a division of MIRC Electronics Ltd, for Rs 3 crore in an all cash deal.
Mirc Electronics Ltd has posted a net profit of Rs 210.80 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 159.40 million in the corresponding period last fiscal.
With the Central Government making it mandatory for consumers to switch to CAS in select parts of major metros, Onida is planning to launch LCD televisions that have an embedded technology to encrypt digital signals.
Mirc Electronics, the manufacturer of Onida brand of consumer electronics, is looking for overseas acquisition opportunities to beef up its research and development capabilities.
Indian consumer durable market faces competition from Korean dealers.
Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like Videocon becoming the largest television set manufacturer in India.
With the new focus, the firm is doubling its advertising and marketing spending to Rs 100 crore this year on new campaigns for its products.
Electronics and white goods manufacturers such as Videocon, Spice, Usha and Mirc Electronics have begun engaging the services of Independent design houses to take on the likes of global giants including Nokia, Sony Ericsson and LG in the mobile handset space. An IDH conducts research and development and designs handsets to enable Indian telcos launch their own mobile handset brands. It takes an upfront one-time fee for the purpose.
According to a late evening filing with the National Stock Exchange, Gulu will buy the 33.3 per cent stake held by Sonu's wife for about Rs 110 crore (Rs 1.1 billion). The proposed deal will increase Gulu's stake in the holding entity from 27.77 per cent to 61.07 per cent. Guvisco owns a 52.74 per cent stake in Mirc, which manufactures the Onida brand of consumer goods. Onida has a share of 8-10 per cent in the Rs 14,000-crore (Rs 140-billion) colour television market.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Mudar Patherya lists companies whose shares can bring on Xmas cheer for investors.
It would be advisable to look to companies that reported attractive growth during the first quarter, says Mudar Patherya
Stocks to watch: Videocon, Blue Star, Hitachi, MIRC Electronics, BPL, Whirlpool, Gitanjali, Titan Group
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Sasha Mirchandani's tryst with investing began when his own venture failed to seek funding in early 2000s.
While e-commerce operations for these firms are small at the moment, it is slated to grow in the next 3 to 4 years.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
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