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Marico arm buys Code 10 from Colgate-Palmolive
The Malaysian arm of fast moving consumer goods (FMCG) player Marico has acquired hair-styling brand Code 10 from Colgate-Palmolive for an undisclosed sum. The buyout marks the company’s entry into the Malaysian hair-styling market. It is also the company’s first since the acquisition of Durban-based Enaleni Pharmaceuticals in late 2007.

Shipping ministry calls for status report on DP World
The Union shipping ministry has asked all ports in the country with a presence of Dubai World’s maritime subsidiary, DP World, to report on how much trade goes through the company-operated terminals.

News of the day

Monster Worldwide posts Q2 loss of $1.37 mn
Monster Worldwide, the parent company of global online employment solution provider Monster.Com, today reported a net loss of $1.37 million in the quarter ended June 30 this year.
Management

Federal Bank Q3 net plunges 46%

The leading Kerala-based private sector lender Federal Bank today said its net profit declined by 45.92 per cent to Rs 110.25 crore for the third quarter ended December, over the corresponding quarter last fiscal. - Colgate-Palmolive Q3 net up 50% at Rs 116 cr - Tata Tea Q3 net declines 76% to Rs 92 cr - Apollo Hospitals Q3 net up 48% at Rs 44 cr - J&K Bank Q3 net up 16% to Rs 140 cr - Cairn India Q3 net up 23% to Rs 291 cr - BPCL Q3 profit declines 52% to Rs 379 cr Total income rose to Rs 1,061.12 crore for the latest quarter as against Rs 1,041.23 crore, Federal Bank said in a filing to the Bombay Stock Exchange (BSE). The Aluva, Kochi-based bank earned an interest of Rs 944.64 crore for the December quarter against Rs 876.42 crore for the same period a year ago. For the nine month period ended December, the bank posted a net profit of Rs 347.70 crore against Rs 386.32 crore for the same period last fiscal. Shares of Federal Bank closed at Rs 249.30 on the BSE, down 2.62 per cent from its previous close.


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