Nakoda starts yarn production in South Korea

Nakoda Ltd, formerly Nakoda Textiles Industries Ltd, has started production at its plant in South Korea.

The Korean unit has a capacity to manufacture 150 tons per day (tpd) of fully drawn yarn, 90 tpd of partially oriented yarn and 60 tpd of polyester chips.

On Tuesday, Nakoda shares ended flat at Rs14 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.5% to 18,645 points.

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Gemini Communication FY net profit jumps 223% to Rs32.3 crore

IT solutions provider Gemini Communication Ltd said its consolidated net profit stood at Rs32.3 crore for the year ended March 2010, a jump of 223%, as compared to Rs10 crore during the previous year ended March 2009.

Its total revenues rose 21.2% to Rs350.8 crore in the year ended March 2010 as against Rs289.4 crore during the previous year ended March 2009.

The company has recommended a dividend of Re0.05 paise per share for the financial year.

On Tuesday, Gemini Communication shares ended 4.4% higher at Rs25 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.5% to 18,645 points.

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KS Oils net profit up 2.6% to Rs50.5 crore in June quarter

Edible oil maker KS Oils Ltd said it registered a 2.6% increase in its net profit to Rs50.5 crore for the quarter ended 30 June 2010, as compared to Rs49.2 crore during the same period last year.

The company has clocked its turnover of Rs1,030 crore during the June quarter, a 13.6% jump, as against Rs907 crore the year-ago period, KS Oils said in a statement.

During the quarter, KS Oils strengthened its presence in North India with a distributor led retail push in Jammu and Kashmir, Himachal Pradesh, Rajasthan, Punjab, Haryana and Himachal Pradesh. It added 43 new distributors during the quarter, strengthening the company's network to 1,313 distributors, KS Oils said.

The plantation work in Indonesia and Malaysia is progressing as per schedule.
On Tuesday, KS Oils shares ended 1.2% down at Rs50 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.5% to 18,645 points.

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