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| JIK Industries fixes record date for stock split |
| JIK Industries Ltd has fixed November 29, 2000 as the record date for the purpose of sub-division of every one existing equity share of Rs 10/- each into ten equity shares of face value of Rs 1/- each. BSE has informed its members that transactions in the equity shares as per the said face value of Rs 1/- per share would be from November 13, 2000. |
| HCL Technologies fixes record date for stock split |
| HCL Technologies Ltd has fixed December 12, 2000 as the record date for the purpose of Sub-division of every one existing equity share of Rs.4/- each into two equity shares of face value of Rs 2/- each. BSE has informed its members that transactions in the equity shares as per said face value of Rs 2/- per share would be from November 27, 2000. |
| Orient Paper to raise Rs 250/- million |
The Board of Orient Paper & Industries Ltd. has decided as under:
1. To classify the 50/- million unclassified shares of Rs.10/- each into 50/- million ordinary shares of Rs.10/- each.
2. To issue, subject to necessary approvals, issue of shares of Rs.10/- each for an aggregate amount not exceeding Rs.250/- million (inclusive of premium) on private placement/preferential basis to promoters, group companies and/or their associates in accordance with SEBI Guidelines for preferential issue.
3. To report, the fact of erosion as at March 31, 2000 of 50% or more of the company's peak net worth for immediately preceding four financial years to the members and also to BIFR as per SICA, 1985. |
| Gujarat Ambuja Exports allots 6.30 million shares |
| Gujarat Ambuja Exports Ltd. has allotted 63,00,000 equity shares of Rs.10/- each at a premium Re.1/- per share to the holders of 6,30,000 Optionally Convertible Unsecured Debentures of Rs.110/- each. 7,20,000 debentures will remain as outstanding debentures. |
| Sheths & Mahindra Realty to make open offer at Rs 36/- per equity share of Gesco Corp |
| The Sheth Group and Mahindra Realty & Infrastructure Developers Ltd (MRIDL) today November 7, 2000 agreed to make an offer to the shareholders of Gesco Corporation Ltd (Gesco) at a price of Rs 36/- per share. The offer is being made for 33.5% of the equity capital of Gesco which along with 11.5% of the equity capital of the company currently held by the Sheth Group aggregates to 45% of total equity of Gesco. |
| Shareholders approve merger of GECS with Global Tele-Systems |
The shareholders of Global Tele-Systems Ltd at the meeting held on November 06, 2000 as per the directions issued by the High Court of Judicature at Bombay, in response to the company's application under Sec 391of the companies act 1956 have approved the scheme of Amalgamation of Global Electronic Commerce Service Ltd (GECS) with the company unanimosly barring one member whose vote was considered as invalid.
The company will now move the petition for the amalgamtion in the High Court for final hearing and further necessary orders. |
| High Court approves merger of Telecords India with Aksh Optifibre |
| The Hon'ble Rajasthan High Court at Jaipur has approved the scheme of merger of Telecords (I) Pvt Ltd with Aksh Optifibre Ltd. |
| SQL Star International Q3 net profit down by 21.95% |
| SQL Star International has posted a net profit of Rs 11.30 million for the quarter ended September 30, 2000 as compared to Rs 14.48 million for the quarter ended September 30, 1999. Total income for the quarter ended September 30, 2000 is at Rs 120.88 million as compared to Rs 97.80 million in the quarter ended September 30, 1999. |
| Hind Lever Chemicals Q3 results on November 15, 2000 |
| A meeting of The Board of Directors of Hind Lever Chemicals Ltd has been convened on November 15, 2000 to take on record the unaudited financial results for the quarter ended on September 30, 2000. |
| Varinder Agro Chemicals Q3 net at Rs 37.03 million |
Varinder Agro Chemicals Ltd has posted a net profit of Rs 37.03 million for the quarter ended September 30, 2000 as compared to Rs 4.89 million in the quarter ended September 30, 99. Total Income for the quarter ended September 30, 2000 is at Rs 282.13 million as compared to Rs 303.35 million in the corresponding period last fiscal.
The turnover of the current quarter is less as compared to corresponding period because the Single Super Phosphatic has been sold. |
| Mukand Engineers Q2 net profit up by 59.74% |
Mukand Engineers Ltd has posted a net profit of Rs 24.60 million for the quarter ended September 30,2000 as compared to Rs 15.40 million in the corresponding period last fiscal. Total Income for the quarter ended September 30, 2000 is at Rs 157.90 million as compared to Rs 175.90 million for the quarter ended September 30, 99.
The Board of Directors has appointed Shri F C Kohli as Additional Director of the Company with effect from September 13, 2000. Shri F C Kohli will hold office up to the date of the next Annual General Meeting of the company.
The Board of Directors at its meeting held on September 29, 2000 had approved the acquisition of data processing facilities along with associated software and know-how towards the expansion of the infotech Division of the Company for a consideration of Rs 115/- million.The consideration is to be discharged partly by cash amounting to Rs 40.18 million and partly by issue of 598,500 equity shares of the Company. |
| With reference to news item "NIIT plans $100m war chest"appearing in a financial daily NIIT Ltd has informed BSE that on the issue of acquisition and funding for the same the company has not issued any statement recently which has prompted this article. There is no change in NIIT acquisition strategy as has been unveiled in the past. The company has not given any statement, but some of the facts in the news clipping are incorrect and written by the author on his own accord. |
| Sheths & Mahindra Realty forge alliance for GESCO |
Ghanshyam Sheth, Managing Director of GESCO Corporation Ltd, alongwith his associates, the major shareholders of GESCO Corporation Ltd., on November 06, 2000, signed an agreement with Mahindra Realty and Infrastructure Developers Ltd, the real estate company of the infrastructure Development Sector of the Mahindra Group. The parties have agreed to jointly make a counter offer to the shareholders of GESCO Corporation Ltd.
They will make a counter offer to the offer made by Renaissance Estates Ltd., controlled by A. H. Dalmia, on October 21, 2000.
It is envisaged that after a successful counter offer, Mahindra Realty and the Sheth Group will hold shares in GESCO Corporation in a ratio of 3:2. The constitution of the Board would also reflect this shareholding pattern.
The suggestion for the alliance was made by Deepak Parekh Chairman, HDFC Ltd to Mahindra Reality at the instance of Sheths. HDFC have sanctioned a line of credit to finance the transcation. |
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