Mysore Cements Board approves issue of equity shares on preferential basis
The Board of Directors of Mysore Cements Ltd at their meeting held on June 21, 2002 has approved subject to relevant approvals, the issue of equity shares of Rs 10 each and or any other financial instruments including debentures, whether fully or partly convertible, with or without detachable or non-detachable warrants as the Board as its sole discretion may decide to members (including promoters and persons deemed to be acting in concert), IDBI and other Financial Institutions, Mutual Funds, Asset Management Companies, Banks, Non-Resident Indians, Overseas Corporate Bodies, (OCB's), Foreign Institutional Investors, (FII's) Companies, Other entities/authorities and to such other persons for an aggregate amount not exceeding Rs 250 million (including premium if any) on preferential basis.
Jaiprakash Ind FY-02 results on June 29, 2002
A meeting of the Board of Directors of Jaiprakash Industries Ltd will be held on June 29, 2002 to consider and approve the audited financial results of the company for the year ended March 31, 2002 and recommend a final dividend.
Sutlej Industries declares 35% dividend
The Board of Directors of Sutlej Industries Ltd has recommended a dividend of 35% (Rs 3.50 per share) on the equity shares for the year ended March 31, 2002.
Hindustan Zinc Q4 net up by 8.96 %, FY-02 net down by 59.84%
Hindustan Zinc Ltd has posted a net profit of Rs 356.20 million for quarter ended March 31, 2002 as compared to Rs 326.90 million for corresponding period last fiscal. The total income has decreased from Rs 4269.10 million in MQ 2001 to Rs 4178.30 million in MQ 2002.
The Company has posted a net profit of Rs 679.60 million for FY-02 as compared to Rs 1692.20 million for FY-01.The total income for the year ended March 31, 2002 stood at Rs 15140 million.
The Board of Directors has recommended a dividend of 5%.
Govt sanctions merger of Benares State Bank with Bank of Baroda
Bank of Baroda has informed BSE that the Central Government has sanctioned the scheme of amalgamation of Benares State Bank with Bank of Baroda.
IT Microsystems announces change in Board of Directors
IT Microsystems India Ltd has appointed Mr S Nagarajan as an Additional Director and Executive Director of the company wef from June 20, 2002.
Sterlite Industries FY-02 results on June 28, 2002
A meeting of the Board of Directors of Sterlite Industries India Ltd will be held on June 28, 2002 to approve the audited financial results for the nine-month period ended March 31, 2002. The Board shall also consider recommendation of dividend for the abovementioned period.
Saptarishi Agro Ind Board approves issue of equity shares to Global Green
The Board of Directors of Saptarishi Agro Industries Ltd at its Board Meeting held today (June 21, 2002) has approved the issue of equity shares to M/s Global Green Company Ltd, the holding company on a private placement/preferential basis to the extent of Rs 113.50 million in conversion of the money lying in the books of accounts as Share Application Deposit. Accordingly, the Board has also approved the enhancement of Authorised Share Capital of the company from Rs 300 million to Rs 360 million.
Voltas transfers 3.50 million equity shares of PFL to Sermo
Voltas Ltd has informed BSE that as per the arrangements, the Company has today (June 21, 2002) transferred 35,00,000 equity shares of Rs 10 each of Perfect Moulds Ltd, (PFL) in favour of Sermo. The balance shareholding of the company in PML is 65,00,000 equity shares of Rs 10 each.
Sermo has also remitted the subscription amount towards issue of 30,00,000 equity shares of Rs 10 each by PML. Upon allotment of these shares the shareholding of Sermo in PML would stand increased to 50% representing 65,00,000 equity shares of PML, equivalent to the balance shareholding of the company in PML.
Fitch reaffirms Ind AA rating to NCD programme of Ashok Leyland
Ashok Leyland Ltd has informed BSE that Fitch has recently reaffirmed the Ind AA rating assigned to the Rs 250 million Secured Non Convertible Debenture Programme of the company.
Crisil has assigned AA (-) for the fresh borrowing programme of Rs 1000 million for the Non Convertible Debenture Programme.
Eternit Everest announces change in management structure
Eternit Everest Ltd has informed BSE that Mr Arun K Batra Managing Director EEL had expressed his desire to relinquish his office of Managing Director. He has accordingly submitted his resignation, which would take effect from July 08, 2002. The Board has accepted Mr Batra's resignation.
The Board has appointed Mr M L Gupta as an Additional Director of the Company w e f July 08, 2002 and also as Managing Director of EEL for a period of two years w e f aforesaid date. With a view to strengthening the top management of the Company, the Board has also appointed Mr Manish Sanghi, Director-Marketing EEL as an Additional Director w e f July 08, 2002 and has also appointed him as Wholetime Director of EEL for a period of two years w e f from aforesaid date.
BSE imposes special margin on Garware Polyester
BSE has informed the Members of the Exchange that Special Margin of 25% has been imposed on Garware Polyester Ltd with effect from June 21, 2002.
Members are further informed that special margin will be imposed on the basis of memberwise gross outstanding purchase or sale position (Clientwise net).
GBC Modicorp Company Secretary resigns
GBC Modicorp Ltd has informed BSE that Dr Sanjeev Gemawat, Company Secretary has resigned from the company. The said resignation was accepted by the Board at its meeting held on May 03, 2002.
Suraj Diamonds Board approves incorporation of subsidiary in UAE
The Board of Directors of Su-raj Diamonds India Ltd has approved incorporation of a 100% subsidiary company in UAE.
Aurobindo Pharma FY-02 results on June 30, 2002
Aurobindo Pharma Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 30, 2002 to consider and publish audited financial results of the Company for the year ended March 31, 2002. The Company has further informed that the Board may also consider recommendation of dividend on equity shares for the year ended March 31, 2002.
MTNL denies news item
With reference to news item appearing in a leading financial daily Mahanagar Telephone Nigam Ltd has informed BSE that at present there is no proposal to pay any hefty dividend to the shareholders of the company. Thus the news is a rumour which is denied by the company.
Ranbaxy Pharma Inc and Corepharma, LLC in an alliance to maximize the commercialization of a generic version of Adderall in USA
Ranbaxy Pharmaceuticals Inc, USA a wholly owned subsidiary of Ranbaxy Laboratories Ltd, in an alliance with CorePharma LLC of Middlesex, New Jersey announced today (June 21, 2002) that they have received FDA approval to manufacture and market the fixed combination of Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate and Amphetamine Sulfate Tablets in 5mg, 10mg, 20mg and 30mg dosage forms. This product has been deemed bioequivalent and therefore therapeutically equivalent to the innovator product, Adderall, manufactured by Shire U.S. Inc.
CorePharma LLC is the holder of the ANDA for this generic version of Adderall, while Ranbaxy Pharmaceuticals Inc. has exclusive marketing and distribution rights to market this product in the U.S.
This combination drug, is indicated for the treatment of Attention Deficit Disorder (ASHD), most commonly diagnosed as a childhood disorder. This product is an integral part of a total treatment program, which typically includes other remedial measures (999psychological, educational, social) for a stabilizing effect in children with behavioral syndrome characterized by moderate to severe distractibility, short attention span, hyperactivity, emotional liability and impulsivity. ADHD affects approximately 3-5% of the elementary school age population in the United States, as well as 2-4% of adults.
Ranbaxy plans to launch this product shortly and it will become available in USA through wholesalers, distributors and retail pharmacies. This addition to the CNS category of products attests to Ranbaxy's commitment to the continued development and expansion of generic products.
Everlon Syn Director resigns
Everlon Synthetics Ltd has informed BSE that Mr Atul B Desai has resigned as a Director of the company and Board of Directors at their meeting held on May 28, 2002 have accepted his resignation.
P K Jain appointed as Chairman of Pee Cee Cosma
Pee Cee Cosma Sope Ltd has informed BSE that Mr P K Jain has appointed as Chairman of the company in place of Mr P C Jain.
Karur Vysya Bank gets new Chairman & CEO
Karur Vysya Bank Ltd has informed BSE that the Chairman and Chief Executive Officer of the Bank A D Navaneethan has laid down of office after the close of office hours on May 31, 2002. In terms of the approval of Reserve Bank of India, P T Kuppuswamy has assumed the charge as Chairman and Chief Executive Officer of the Bank on June 01, 2002 and he would hold the office for a period of 3 years.
