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| Morepen Lab announces interim dividend of 25%
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The Board of Morepen Laboratories Ltd has declared today (January 15, 2001) an interim dividend at the rate of 25% on the equity of Rs 181/- million for the financial year ending March 31, 2001. The Company had declared a dividend of 35% for the year ended 1999-2000. Morepen Laboratories Ltd has achieved a sale of Rs 3230/- million and it has surpassed its performance of last year to register a profit of Rs 632/- million for nine months (ended December 31, 2000) which is more than the total profit of Rs 510/- million for the year 1999-2000.
The Company has fixed February 09, 2001 as the record date for the purpose of ascertaining the entitlement to receive interim dividend.
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| Colgate Palmolive Q3 results on Jan 24, 2001
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| A meeting of the Board of Directors of Colgate Palmolive (India) Ltd is scheduled to be held on January 24, 2001 to take on record the unaudited financial results of the Company for the quarter ended December 31, 2000
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| Cadbury India to get new Managing Director
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| Cadbury India Ltd has informed BSE that with effect from February 05, 2001 Mr Rajeev Bakshi, Managing Director of the Company will be leaving Cadbury India Ltd on his appointment as the Managing Director of Cadbury South Africa. Effective the same date his place in Cadbury India Ltd will be taken by Mr Mathew Cadbury currently Development Director, Cadbury Schweppes Group.
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| Cummins India Ltd has informed BSE that Mr J L Deshmukh Managing Director of the Company has stepped down as Managing Director & Director with effect from January 15, 2001. Mr J L Deshmukh will now pursue other opportunities within the Cummins Group Overseas.
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| Hitech Entertainment to consider withdrawal of rights issue
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| A meeting of the Board of Directors of Hitech Entertainment Ltd is scheduled to be held on January 19, 2001 to consider the withdrawal of issue of 93,63,000 equity shares of Rs 10 each for cash at a premium of Rs 40/- aggregating Rs 468.15 million on rights basis to the existing shareholders of the Company.
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| Ranbaxy Lab FY 2000 net down by 8.13%, DQ 2000 net up by 50.47%
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Ranbaxy Laboratories Ltd has posted a net profit of Rs 483/- million for the quarter ended December 31, 2000 as against Rs 321/- million for the quarter ended December 31, 1999. Net sales for DQ 2000 stood at Rs 4785/- million as compared to Rs 4168/- million in DQ 99. Other income decreased to Rs 165/- million in DQ 2000 from Rs 199/- million in DQ 99.
The Company has reported a net profit of Rs 1809/- million for the financial year ended December 31, 2000 as compared to Rs 1969/- million in the previous year ended December 31, 1999. Net sales increased by 11.67 %, at Rs 17418/- million for FY 2000 as against Rs 15598/- million in FY 99. For the financial year ended December 31, 2000, Other income stood at Rs 471/- million as compared to Rs 715/- million in the previous year.
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| Mangalore Chem Q3 net up by 104.42% |
Mangalore Chemicals & Fertilizers Ltd has posted a net profit of Rs 106.30 million for the quarter ended December 31, 2000 as compared to Rs 52/- million in the corresponding period last fiscal. Total Income for DQ 2000 is at Rs 1874.20 million as compared to Rs 1978.30 million in DQ 99. Interest expenditure for the quarter ended December 31,2000 stood at Rs 16.80 million as compared to Rs 57.60 million in DQ 99.
The revival scheme for the company has been approved and circulated by BIFR.Necessary adjustments under the scheme have been carried out in the financial year 1999-2000. As a result, the accumulated losses have been fully wiped out and the net worth has turned positive.
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| Thermax Q3 net loss at Rs 44.70 million
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Thermax Ltd has posted a net loss of Rs 44.70 million for the quarter ended December 31, 2000 as against a net profit of Rs 170.20 million in the quarter ended December 31, 1999. Net Sales for DQ 2000 stood at Rs 1073.60 million as compared to Rs 825.60 million in DQ 99. Other income decreased by 85.87%, at Rs 39.90 million for the quarter ended December 31, 2000 from Rs 282.40 million for the corresponding period last fiscal.
At its meeting held on January 15, 2001, the Board of Directors of the Company has been reconstituted. The non-executive Directors, namely, Mr H P Ranina, Mr S S Marathe, Mr P D Chansarkar and Mr B M Desai have resigned from the Board of the Company. The casual vacancy created due to the resignation of the aforesaid Directors, the Company has inducted Mr Tapan Mitra, Mr Vallabh Bhanshali, Dr Manu Seth and Mr Ravi Venkatesan.
Mrs M P Pudumjee and Mr P N Pudumjee have been inducted on the Board of the Company as Additional Directors.
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| Grasim Industries Q3 results on Jan 24, 2001
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| A meeting of the Board of Directors of Grasim Industries Ltd has been convened to consider and take on record the unaudited financial results for the third quarter ended on 31st December 2000
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| Raymond to buy-back upto 25% of equity capital at a max price of Rs 160 per share
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At its meeting held today (January 15, 2001) the Board of Directors of Raymond Ltd. decided to buy-back from the shareholders of the Company the fully paid up equity shares of the Company of the face value of Rs 10/- each, upto a limit of 25% of the total existing share capital of the Company at a price not exceeding Rs 160 per equity share subject to the approval of the shareholders in General Meeting, SEBI and such other approvals as may be necessary in connection therewith.
An Extraordinary General Meeting of the Company has been convened to be held on February 15, 2001 to obtain the shareholders approval to the proposal of the Board regarding buy-back of the equity shares of the Company.
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| Compudyne Winfo Q3 net profit at Rs 19/- million
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| Compudyne Winfosystems Ltd has posted a net profit of Rs 19/- million for the quarter ended December 31, 2000 as compared to Rs 4.90 million in DQ 99. Total Income for the quarter ended December 31, 2000 is at Rs 69.17 million as compared to Rs 16.54 million in DQ 99. |
| P&G Board to meet on Jan 30, 2001 to consider Q2 results
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| Procter & Gamble Hygiene and Health Care Ltd has informed BSE that the Board of Directors of the Company will meet on January 30, 2001 to consider and record the unaudited accounts for the quarter ended December 31,2000. |
| Eicher Motors Q3 net up by 29.06% |
| Eicher Motors Ltd has posted a net profit of Rs 55.50 million for the quarter ended December 31, 2000 as compared to Rs 43/- million for the same period last fiscal. Net Sales for the quarter ended December 31, 2000 stood at Rs 942.50 million as compared to Rs 752.10 million in DQ 99. Other income has increased from Rs 1.20 million in DQ 99 to Rs 1.70 million in DQ 2000.
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| Bajaj Auto Finance Q3 net up by 6.40% |
| Bajaj Auto Finance Ltd has posted a net profit of Rs 56.50 million for the quarter ended December 31,2000 as compared to Rs 53.10 million in DQ 99. Income from Operations for the quarter ended December 31, 2000 stood at Rs 236.10 million as compared to Rs 178.60 million for the corresponding period last fiscal. Other income has increased from Rs 31.70 million in DQ 99 to Rs 33.50 million in the quarter ended December 31, 2000.
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| Bank of India Q3 results on Jan 25, 2001 |
| A meeting of the Board of Directors of Bank of India is scheduled to be held on January 25, 2001 to consider and take on record the Unaudited Financial Results of the Bank for the quarter ended December 31, 2000. |
| NIIT Q1 results on Jan 23, 2001
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| A meeting of the Board of Directors of NIIT Ltd is scheduled to be held on January 23, 2001 to consider and take on record the Unaudited Financial Results of the Company for quarter ended December 31, 2000.
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| Britannia Q3 results on Jan 30, 2001
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| A meeting of the Board of Directors of Britannia Industries Ltd is scheduled to be held on January 30, 2001 to consider and take on record the Unaudited Quarterly results of the Company for the quarter ended December 31, 2000.
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| BHEL Q3 results on Jan 31, 2001
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| The Board of Directors of Bharat Heavy Electricals Ltd (BHEL) is scheduled to meet on January 31, 2001 to considered Unaudited Financial Results of the company for the quarter ended December 31, 2000. |
| CRISIL rates First Partially Guaranteed Issue
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Credit Rating Information Services of India Ltd (CRISIL) has informed BSE that AA+ rating has been assigned to the Rs 1500 million Structured Debt Obligation (SDO) Issue of Ballarpur Industries Limited (BILT). The rating is based on a Partial Guarantee proposed to be provided by the International Finance Corporation (IFC), Washington (rated 'AAA' by Standards and Poors' - S&P) and is supported by a structured payment mechanism to facilitate timely payment of debt obligations. The rating indicates high safety with regards to timely payment of interest and principal on the structured debt issue.
The rating is based on the strength of the credit enhancement provided through a Partial Guarantee extended by IFC, Washington, along with a structured payment mechanism built in for servicing interest payment and principal repayment obligations. The rating also factors the standalone credit quality of BILT (rated 'A/FA+' by CRISIL),which indicates adequate degree of safety to meet its financial obligations.
This is the first partially guaranteed instrument to be rated in the Indian debt market. CRISIL has devised a new rating methodology for rating such instruments. CRISIL expects that this new concept will be a powerful financing tool in the hand of corporate treasurers while adequately addressing the credit risk concerns of the lenders.
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| Corporation Bank Q3 results on Jan 30, 2001
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| A meeting of the Board of Directors of Corporation Bank is scheduled to be held on January 30, 2001 to consider the Unaudited Financial Results of the Bank for the quarter ended December 31, 2000.
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| Saven Tech to be listed on BSE from Jan 16, 2001
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| BSE has informed its members that the securities of Saven Technologies Ltd will be admitted to dealings in the list of Non-specified securities with effect from January 16, 2001.
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| CCS Infotech to be listed on BSE from Jan 16, 2001
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| BSE has informed its members that the securities of CCS Infotech Ltd will be admitted to dealings with effect from January 16, 2001. The dealings in the securities of the Company will be done in the list of Non-Specified securities. |
| Mastek Q2 net down by 54.10%
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| Mastek Ltd has reported a net profit of Rs 28/- million for the quarter ended December 31, 2000 as against Rs 61/- million in the quarter ended December 31, 1999. Net Sales for DQ 2000 decreased to Rs 209/- million from Rs 224.30 million in DQ 1999. Other income stood at Rs 2/- million for the quarter ended December 31, 2000 as compared to Rs 1.20 million in the same period last year.
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| Kotak Mahindra Finance Q3 net at Rs 103.98 million
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| Kotak Mahindra Finance Ltd has posted a net profit of Rs 103.98 million for the quarter ended December 31, 2000 as against Rs 103.33 million in the quarter ended December 31, 1999. Net sales for DQ 2000 stood at Rs 435.63 million as compared to Rs 493.55 million for DQ 1999. Other income increased to Rs 121.32 million for the quarter ended December 31, 2000 from Rs 107.49 million in the corresponding period previous year.
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| Hindustan Lever enters into agreement with Godrej Agrovet
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Hindustan Lever Ltd (HLL) has informed BSE that Godrej Agrovet Ltd (GAVL), a subsidiary of Godrej Soaps Ltd and a leading player in the animal feeds and agricultural inputs market has announced its intention to enter into a JV with HLL. Under the proposed arrangement, GAVL will acquire a 74% stake in Gold Mohur Foods & Feeds Ltd (GFFL), a subsidiary of HLL. HLL will continue to hold 26% stake in GFFL. The Board of the new joint venture Company will be reconstituted to reflect the changes. The Joint Venture will be with effect from January 01, 2001.
Announcing this, Mr. A.B.Godrej, Chairman, Godrej Group said " We are happy to announce this addition to Godrej Agrovet. It will make Godrej Agrovet the leader in its major area of business - animal feeds. We would also like to welcome the employees, customers and other business partners of GFFL to the Godrej Group".
The investment of GAVL is aimed at deriving considerable synergies benefiting both the Companies. Apart from making it the largest player in the animal feeds business in India, it would also bring together the formidable R & D skills in animal feeds of both the Companies.
HLL had earlier announced its intention to exit from the animal feeds business to align its business focus with that of its parent Company Unilever. In line with its stated intention, HLL, with the approval of its shareholders, had transferred its animal feed business in April 2000 as a going concern to its subsidiary GFFL.
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| Zicom Electronic enters into agreement with CA Int. Inc, USA
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Zicom Electronic Security Systems Ltd has informed BSE that the Company has entered into Agreement under Development Partner Programme with Computer Associates International Inc, USA (CA) for integration of Zicom's Access Control Management Agent (ACMA) with CA's flagship software Unicenter TNG.
CA delivers end-to-end infrastructure to enable e-business through innovative technology, service and education. CA has 20,000 employees worldwide and has revenue in excess of $ 6 billion for the financial year March 31, 2000. Unicenter TNG, a total enterprise management software, contributes more than 40% of the total sales.
To market ACMA, Zicom and CA will mutually leverage their reach, nationally and internationally.
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| SmithKline Beecham Pharma to consider reconstitution of the Board
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| The Board of Directors of SmithKline Beecham Pharmaceuticals (India) Ltd will meet on January 22, 2001 to consider reconstitution of the Board. With the cessation of office of Managing Director & Director, Mr John Squires, the Board of Directors of Smithkline Beecham Pharmaceuticals (India) Ltd will consider appointment of Mr V Thyagarajan in his place. |
| Kotak Mahindra Board approves amalgamation of Pannier Trading
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Kotak Mahindra Finance Ltd has informed BSE that at its meeting held on January 15, 2001, the Board of Directors of the Company has approved the proposal for the merger of Pannier Trading Company Private Ltd (Pannier) with the Company.
The Board has approved the merger proposal and the draft Scheme of arrangement between the Company and Pannier and also the share entitlement ratio, whereby 25 equity shares of Rs 10/- each of Kotak Mahindra Finance Ltd will be issued for every 1 equity share of Rs 10/- each of Pannier.
Pannier holds 75% of the equity shares of Kotak Securities (a company with unlimited liability) which is engaged in the business of Stock-broking business. Consequent upon the merger of Pannier with the Company, the said shares of Kotak Securities will be held by the Company.
The aforesaid amalgamation is subject to necessary approvals, including those approvals, if any, of regulatory authorities, the majority of the shareholders of the Company as well as the sanction of the High Court of Mumbai. On completion of the merger, the share capital of the Company will increase from Rs.459.10 million to Rs.592.10 million.
The Board has also approved the acquisition of foreign exchange broking business of Mr. Uday Kotak through a subsidiary of the Company, subject to necessary approvals.
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| Tata Elxsi Q3 results on Jan 23, 2001
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| A meeting of the Board of Directors of Tata Elxsi Ltd is scheduled to be held on January 23, 2001 to consider the unaudited financial results for the quarter ended December 31, 2000.
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