Home / Knowledge / News / STC presents dividend cheque to Shri Kamal Nath
STC presents dividend cheque to Shri Kamal Nath
06
Feb '08
A dividend cheque for Rs.9.56 crore, towards the interim dividend of 35% for 2007-08, was presented to Shri Kamal Nath, Union Minister of Commerce & Industry by Dr. Arvind Pandalai, Chairman & Managing Director of State Trading Corporation of India Ltd (STC) here last evening.

During the first nine months of the current financial year (April-December 2007), STC has achieved an impressive increase of over 40% in profit over the corresponding period of the previous year.

The total turnover has also crossed Rs.11000 crore mark during this period thereby surpassing the proportionate MOU target by 48%.

During the period, STC's exports grew by over 60% to reach past Rs.3000 crore due to higher sales of chemicals & pharmaceuticals, gold jewellery, steel raw materials and iron ore.

Total imports at Rs.7424 crore exceeded the proportionate MOU target by 36% in spite of lower wheat imports of the order of Rs.1500 crore as against about Rs.4200 crore worth of wheat imports during Apr.-Dec.'06.

Imports of bullion, hydrocarbons, minerals, metals, petro-chemicals and pulses significantly grew over previous year.

STC has, of late, entered into domestic tea operations. It procures tealeaves directly from small farmers in Nilgiri district in Tamil Nadu.

The tealeaves are processed through leasing of a processing unit and are blended to suit to the market tastes. STC has recently launched own brand 'Tohfa' tea for sale under PDS through Gujarat State Civil Supplies Corporation.

Must ReadView All

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Courtesy: IRRC Institute

Apparel/Garments | On 27th May 2017

Up to 7.5 mn retail jobs in US at risk due to automation

About 6-7.5 million retail jobs in the US are likely to be automated...

Textiles | On 27th May 2017

Indian textiles ministry promotes wool sector

The ministry of textiles has taken multiple steps to promote the wool ...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search