CMC shares surge 14.92%

NEW DELHI: CMC shares surged 14.92 per cent at the BSE, trading at Rs 486.30. Combined volumes at the bourses amounted to more than 5 lakh. Most of the technology counters were amongst the gainers in afternoon trades. According to reports, the Tata Group company is actively pursuing the business process outsourcing (BPO) segment along with Tata Consultancy Services (TCS) and parts of the plan will take shape in the next six months. CMC is also looking at the banking, finance and the insurance sectors for its BPO venture.

CMC reported a net profit of Rs 5.20 crore for the second quarter ended September 30, 2002, down 50.21 per cent compared to Rs 10.45 crore for the quarter ended September 30, 2001. Total income for the quarter ended September 2002 is at Rs 132.08 crore, as against Rs 139.41 crore in the September 2001 quarter.

Source: IRIS