Sterlite Q2 net up by 56.66%

Sterlite Industries (India) Ltd has reported a net profit of Rs.376.30 million in the quarter ended December 31, 2000 as against Rs. 240.20 million in the same period in the previous fiscal. Net Sales increased from Rs.4627.90 million in DQ 99 to Rs. 7356.70 million in DQ 2000, up by 58.96%. Other Income has risen by 99.82%, from Rs. 54.40 million in DQ 99 to Rs.108.70 million in DQ 2000. The Board of Directors has approved the Company's proposal to spin-off the power transmission line aluminium conductor business into a 100% subsidiary subject to all statutory approvals. The Board of Directors of the Company, has inducted noted senior advocate Mr C.A. Sundaram into the Board of the Company, while Mr Sandeep Junnarkar has stepped down from the Board of the Company.

Business Today-Hewitt Study rates Infosys as Best Employer of India.

The Business Today-Hewitt Study, to find out which companies have really charged the emotional and intellectual energy of their managerial employees, rates Infosys Technologies Ltd as the Best Employer of India. Infosys was first in a survey of a hundred and fifty five companies. The survey was conducted in four parts namely Employee Engagement Survey and written comments, Hewitt People Practices Inventory and materials submitted by the company, CEO's Employee Orientation and On-site visits. The study reflects Hewitt's belief that the success of any system or program in a company is directly related to the level of senior-management commitment. The high level of senior management involvement and commitment at Infosys was a key differentiating factor. "They communicate and share information with employees on a regular basis, stand in the lunch queue with everyone else, play an active role in all employee events, take inputs from employees while taking decisions, have an open-door policy, and build a personal rapport with employees. There is no hierarchy and everyone is treated and behaves like equals," a Business Today report said. "We are privileged to have been chosen the Best Employer of India", said Hema Ravichandar, Sr. Vice President and Head - Human Resources Development. "We believe that the task of leadership is to make people believe in themselves, the organisation, the value system and philosophy of the organisation and in the aggressive targets the organisation sets," she added.

Infosys signs MOU with AP Govt. to establish software development campus in Hyderabad

Infosys Technologies Ltd has signed an Memorandum of Understanding (MOU) today (January 11, 2001) with the Government of Andra Pradesh for establishing & software development campus in Hyderabad. As per the terms of the MOU, Infosys will set up a software development campus in Hyderabad and in the first phase of the project, invest Rs.800/- million in facilities to seal about 1,200 software professionals within two years from the signing of MOU. Infosys will invest a further Rs.1000/- million in facilities for seating an additional 1300 software professionals in the second and third phases of the project, within the next 3 years. For its part, the Government of Andhra Pradesh has agreed to provide Infosys 30 acres of land in Manikonda village in Hyderabad near the Indian School of Business (ISB) campus. Infosys has retained the option to purchase a further 20 acres of land contiguous to the plot for its further expansion. The MoU was signed in the presence of Mr Chandrababu Naidu Hon'ble Chief Minister of Andhra Pradesh, by the Andhra Pradesh Chief Secretary Mr P V Rao, IAS on behalf of the Government and Mr. N R Narayana Murthy, Chairman and Chief Executive Office, Infosys on behalf of the company. Speaking on the occasion Mr N R Narayana Murthy said "Infosys has followed a strategy of setting up world-class software development campuses which will cater to the overall well-being of its human resources and help tap local talent. We are delighted to expand in Hyderabad which is an important destination for investment on the country's IT map. A.P. Chief Minister Chandrababu Naidu noted " Infosys setting up its software development campus in Hyderabad is ample testimony to the quality and depth of IT talent available in Andhra Pradesh and of the confidence in our industry -friendly administration.

Fourth Generation Info to be listed on BSE from Jan 12, 2001

BSE has informed its members that the securities of Fourth Generation Information Systems Ltd will be listed on the exchange from January 12, 2001. The scrip will be admitted to dealings on BSE in the list of Non-specified securities.

Apollo Tyres Q3 results on Jan 19, 2001

A meeting of the Board of Directors of Apollo Tyres Ltd is scheduled to be held on January 19, 2001 for consideration of Un-audited Financial Results for the period ended December 31, 2000.

Hughes Tele.Com announces changes in Management structure

Hughes Tele.Com Ltd has announced the following changes in the Board of Directors with effect from January 10, 2001: 1. Mr. Vinod Shukla, Director has resigned and the Board has appointed Mr. Pradeep Kaul in his place. 2. The following alternate directors have also been appointed/re-appointed : Name of Alternate Director Alternate to (a) Mr. Madhav Joshi Mr. Pradman Kaul (b) Mr. Pranav Roach Mr. James Lucchese (c) Mr. Arun Kumar Mr. Jack Shaw (d) Mr. Partho Banerjee Mr. Pradeep Kaul

Dr Reddy's Lab Board to meet on Jan 30, 2001 to consider Q3 results

The Board of Directors of Dr Reddy's Laboratories Ltd will meet on January 30, 2001 to consider the unaudited financial results for the third quarter ended December 31, 2000.

United Phosphorus Q3 results on Jan 29, 2001

A meeting of the Board of Directors of United Phosphorus Ltd is scheduled to be held on January 29, 2001 to consider unaudited financial results for the quarter ending December 31, 2000.

GNFC Q3 result date changed to Jan 22, 2001

Gujarat Narmada Valley Fertilizers Company Ltd (GNFC) has informed BSE that the meeting of the Board of Directors of the Company which was scheduled to be held on January 20, 2001 to result for DQ 2000 has now been postponed due to unavoidable circumstances. The Board meeting to consider the results for the quarter ended December 31, 2000 will now be held on January 22, 2001 and not January 20, 2001 as had been announced earlier.

Hinduja Finance DQ 2000 net up by 38.68%

Hinduja Finance Corporation Ltd has reported a net profit of Rs 124.31 million for the quarter ended December 31, 2000 as compared to Rs 89.64 million for the quarter ended December 31, 1999. Income from operations for DQ 2000 stood at Rs 221.74 million as against Rs 118.95 million in DQ 1999. Other income stood at Rs 0.95 million for the quarter ended December 31, 2000 as against Rs 1.70 million in the corresponding period last year. The figures for the quarter ended December 31, 2000 includes financials of Hinduja Telecom India Ltd, Melody Trading Pvt Ltd and Richman Investrade Pvt Ltd, as the shareholders and creditors have approved the mergers. The mergers effective from August 31, 2000 are subject to Bombay High Court approval.

Jaipan Industries fixes record date for bonus issue

BSE has informed its members that Jaipan Industries Ltd has fixed February 15, 2001 as the record date for the purpose of issue of bonus shares. The bonus issue will be in the ratio of one bonus share for every five existing equity shares held. The transactions in the equity shares of the Company will be done on cum-bonus basis upto January 19, 2001 and on ex-bonus basis from January 22, 2001.

JB Chemicals drops dividend from Board meeting agenda

The Board of Directors of J.B.Chemicals & Pharmaceuticals Ltd has advised the Company not to consider and recommend the Interim Dividend for the Financial year 2000-01 at the meeting of the Board of Directors of the Company scheduled to be held on January 25, 2001. The Board has also suggested to wait until the budget for the year 2000-01 is announced. This move comes in the wake of news reports published in a leading financial daily in the light of recommendations made by the Union Finance Minister to spur the economic growth of the country. Amongst some of the measures suggested by Mr. Sinha, one of the key recommendations is that "the rate of Corporate Dividend Tax should be reduced to the level of 10% from the present level of 20%". The Company expects that the demand of the industry would be considered favourably by the Union Finance ministry in the interest of the growth of the corporate sector and consequently the economy, thereby helping the Company considerably. Under the circumstances and as per the advice of the Directors, the Company has decided to drop the proposal to recommend the Interim Dividend for the FY 2000-01 from the agenda for the forthcoming Board meeting. Accordingly, the Company has decided to cancel the Record Date of February 05, 2001 fixed for the aforesaid purpose. The Company has decided review to consider and recommend Interim Dividend for the Financial year 2000-01 after the announcement of the budget proposals. The aforesaid Board meeting would nevertheless be held on the appointed date i.e. January 25, 2001 to consider the Unaudited Financial Results of the Company for the quarter ended December 31, 2000.

IOC Q3 results on Jan 31, 2001

A meeting of the Board of Directors of Indian Oil Corporation Ltd (IOC) is scheduled to be held on January 31, 2001 to consider and take on record the Unaudited Quarterly Financial Results of the Company for the third quarter ended December 31, 2000.

Rhone-Poulenc Board to consider Q3 results on Jan 17, 2001

The meeting of the Board of Directors of Rhone-Poulenc (India) Ltd has been rescheduled on January 17, 2001 to consider the unaudited financial results of the Company for the third quarter ended December 31, 2000. Earlier the Board of Directors of the Company was scheduled to meet on January 19, 2001.

Nippon Piston's stake in IP Rings reaches 9.99%

IP Rings Ltd has informed BSE that, M/s. Nippon Piston Ring Co. Ltd. (NPRC), Japan has completed the acquisition of 3,52,100 shares of the Company. With this acquisition, NPRC's stake has reached 9.99% of issued, subscribed and paid up capital of IP Rings Ltd. The shares have been acquired through secondary market at the prevailing market price.

Parke-Davis Q3 results on Jan 24, 2001

The Board of Directors of Parke-Davis (India) Ltd will meet on January 24, 2001 to consider the unaudited financial results for the quarter ended December 31, 2000.

Indian Hotels Q3 results on Jan 29, 2001

A meeting of the Board of Directors of Indian Hotels Company Ltd is scheduled to be held on January 29, 2001 to consider the unaudited quarterly results of the Company for the quarter ended December 31, 2000.

Binjusaria Extractions acquires 5.42% stake in Grivs Hotels

Grivs Hotels Ltd. has informed BSE that, M/s. Binjusaria Extractions Ltd. has lodged 297000 shares of the Company for transfer in its name. Subsequent to the transfer, Binjusaria Extractions Ltd will hold about 5.42% of total issued capital of Grivs Hotels Ltd.

DSQ Biotech DQ 2000 net at Rs 92.40 million

DSQ Biotech Ltd has reported a net profit of Rs 92.40 million for the quarter ended December 31, 2000 as against a net loss of Rs 4.10 million in the quarter ended December 31, 1999. Net sales for DQ 2000 stood at Rs 352/- million as against Rs 147.10 million for DQ 1999. Other income increased to Rs 2.10 million in the quarter ended December 31, 2000 from Rs 0.30 million in the corresponding period previous year.

SBI joins Global Telesystems payment gateway

State Bank of India has agreed to participate in the Payment Gateway Infrastructure set by Global Tele-Systems Ltd. The discussions with SBI for providing Payment Gateway Enabling Services has culminated into getting in principle, the said approval from the Bank. Earlier, various other Banks such as HDFC Bank, UTI Bank, IndusInd Bank, Global Trust Bank, Dena Bank and Vysya Bank have already agreed to participate in the Payment Gateway Infrastructure set up by Global Tele.

Softsol India Q3 net profit at Rs 29.52 million

Softsol India Ltd has posted a net profit of Rs 29.52 million for the quarter ended December 31, 2000 on a total income of Rs 54.72 million for the quarter ended December 31, 2000. Income from Software exports for DQ 2000 stood at Rs 47.36 million.

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