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To: Mohan Marette who wrote (3628)	2/1/1999 8:42:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

CEO Rakesh Kaul and Hanover Direct (HVN) Courtesy: Business Week (Feb.01,99) From Inside Wall Street. +++++++++++++++++++++++++++++++ The Net May Make Hanover Bounce Another company that's Internet-bound is Hanover Direct (HNV) (HNV), which was in dire financial straits two years ago. Formerly called Horn & Hardart, the company has gone through a recapitalization and is heading for the Internet. It offers a range of brand-name merchandise, including men's and women's apparel and gifts, which it sells through direct mail, catalogs, and the Internet. Says CEO Rakesh Kaul: ''We're moving rapidly to shift our 25 million customers away from catalogs to Internet shopping.'' Will Hanover Direct spin off its Internet operations and take it public? ''We are looking at all options that are in the best interests of our customers and shareholders,'' says Kaul. ''We are committed to building relationships to expand our E-commerce.'' Hanover and Excite recently formed an E-commerce alliance that adds Hanover's catalogs to Excite's online site. Kaul says that Hanover's largest shareholder, the Swiss Compagnie Financiere Richemont, which has a 51% stake, strongly supports the Internet move. Another big holder is Regan Partners, which owns 17%. One New York investment manager is betting that Kaul will opt for taking the Net unit public. With the stock now at 3 a share, ''Hanover isn't exactly a runaway Internet stock just yet,'' notes this pro. ''That's one very attractive side to the stock,'' he adds. He figures revenues in 1998 will match last year's $489 million, with the company either posting a loss or breaking even. BY GENE G. MARCIAL =============

To: Mohan Marette who wrote (3628)	2/1/1999 10:31:00 PM
From: Mohan Marette	Respond to of 12475

Corporate News- Titan's Q3 net up 58% to Rs 1.4 crore Our Bangalore Bureau -------------------------------------------------------------------------------- 1 FEBRUARY Titan Industries Ltd has posted a 57.5 per cent rise in net profit on sales turnover that has dipped 5.4 per cent for the third quarter (Q3) ended 31 December 1998 over the corresponding period of the previous year. Net profit for Q3 has risen to Rs 1.37 crore from Rs 87 lakh while sales has fallen to Rs 105.85 crore from Rs 112.37 crore. Lower total expenditure at Rs 85 crore (Rs 94 crore) has meant that gross profit (after interest) was higher by 14 per cent at Rs 6.5 crore (Rs 5.7 crore). Interest charges were slightly higher at Rs 13.82 crore (Rs 12.78 crore). The lower sales has been attributed to a slightly higher than planned reduction in Q3 stocks held by the watch trade a higher proportion of the less expensive models in its sales. For the first nine months, net profit has risen 22 per cent to Rs 9.08 crore from Rs 7.48 crore in the corresponding period of the previous year, after making a provision for MAT . Sales turnover for the said period rose 5 per cent to Rs 311.36 crore from Rs 296.9 crore. Domestic sales volume for the nine months this fiscal stands at 28.93 lakh pieces, a rise of 14 per cent from the previous year's 25.44 lakh pieces. Jewellery sales in the nine month period rose 60 per cent by value over the previous year's corresponding period. Better customer response and increased reach facilitated by the opening of new Tanishq boutiques, has meant that retail sales are 2.75 times the level of the previous year. Also, the jewellery plant executed institutional orders for gold coins worth over Rs 35 crore.