Schenectady India Holdings completes acquisition of 50.08 per cent stake in Herdillia Chem
Herdillia Chemicals Ltd has informed BSE that Schenectady (India) Holdings Ltd (SIHL), a wholly owned subsidiary of Schenectady International Inc, New York, USA has completed the process of acquiring the controlling interest aggregating 50.08 per cent of the share capital of the Company from Duncan Goenka Group.
Further, through the open offer made by SIHL, they have acquired additional 11,73,316 shares representing 10.64% of the share capital of the Company. With this, SIHL's total holding in the company has aggregating to 66,95,039 shares representing 60.72 per cent of the share capital of the company.
In view of the above, SIHL has assumed the Promotership of the company.
HCL Info Q2 results on January 18, 2002
A meeting of board of directors of HCL Infosystems Ltd is scheduled to be held on January 18, 2002 to consider the unaudited financial results for the three months and half-year ended December 31, 2001.
Numech Emballage appoints new Additional Director
Numech Emballage Ltd has informed BSE that the Board of Directors of the Company at its meeting held on Wednesday has appointed Ashwin Doshi as an additional director of the company with effect from Wednesday.
The company has further informed that the board has accepted resignation of Dasharath R Pathre and Ramdas P Phatate with immediate effect.
Rai Saheb Rekhchand to call EGM to seek members approval on private placement issue
The board of directors of Rai Saheb Rekhchand Mohota Spg. & Wvg. Mills Ltd at its meeting held on Wednesday has decided to convene and Extra-Ordinary General Meeting of the company to obtain members approval for issue of non-cumulative redeemable preference shares to the extent of Rs 30 million on private placement basis.
Godrej Consumer Products Ltd has informed BSE that the Shareholders of the Company have approved the proposal for buy-back of equity shares of the Company to purchase its fully paid up equity shares of Rs 4 each, at a price not exceeding Rs 100 per share for an aggregate amount not exceeding Rs 93 million. The Shareholders approval was received through a postal ballot conducted in accordance with Section 192A of the Companies Act 1956, the result of which was announced in the Extraordinary meeting of shareholders held on Wednesday.
The board of directors of the company had given their in principle approval for the buy-back of equity shares of the Company, at its meeting held on October 15, 2001. The buy-back resolution and the notices to shareholders were approved in the subsequent board meeting held on November 13, 2001.
The board of directors of the company proposes the buy-back of the company's equity shares from the open market. The company believes that this would provide an additional exit route to those shareholders of the company. This will also add to shareholder value by reducing the cost of servicing the capital in future.
Announcing this at the company's EGM held on Wednesday Adi Godrej, Chairman said "With this Buy Back, Godrej Consumer Products Ltd will add to its shareholder value."
GCPL is a result of the de-merger of the Consumer Products Division of the former Godrej Soaps Ltd and is a listed on the Stock Exchange, Mumbai (BSE), NSE and Stock Exchanges at Chennai, Kolkata, Delhi and Ahmedabad.
Nalco Chemicals Board to consider scheme of amalgamation of Aqua Chem
A meeting of the board of directors of Nalco Chemicals India Ltd will be held on January 14, 2002 to consider the following agenda:
1. To consider and if deemed appropriate, pass a resolution approving the scheme of amalgamation of Aqua Chemicals & Systems Manufacturing Ltd with the Company, with or without modifications.
2. To consider and if deemed appropriate, pass a resolution to authorise any member or members of the Board of Directors of the Company to do all such acts, deeds, matters and things as may be necessary, proper and expedient to give effect to the applications to the High Court at Calcutta for seeking the directions from the High Court of Calcutta for convening a meeting of the shareholders of the Company to present the scheme of amalgamation to the shareholders of the Company for their approval and filing petitions before the said High Court for seeking approval for the scheme of amalgamation.
3. To consider and if deemed appropriate pass a resolution that a General Meeting of the Company be convened on February 14, 2002.
4. To transact any other business with the permission of the Chairman.
Subex Ranger FMS makes further inroads in Africa with new contract in Senegal
Subex Systems Limited has won a contract from Sonatel Mobiles, Senegal (Western Africa) to deploy its Fraud Management Software (FMS), Ranger. Ranger FMS from Subex, is one of the market leaders in this area.
Sonatel Mobiles is a wholly owned subsidiary of the Sonatel Group, which has a strategic partnership with France Telecom and is the principal telecommunications service provider in Senegal. Sonatel Mobiles was created in 1999 offers mobile communication services under the brand name Alize. Alize currently has more than 75 per cent of the mobile subscribers in Senegal and has also recently launched WAP and SMS services.
Subex won the contract amidst tough competition from many International FMS majors."Ranger™ was assessed thoroughly along with the other FMS that were competing in the tender. We were particularly satisfied with its end-to-end approach and inherent flexibility," said Bruno Clery, Director General, Sonatel Mobiles. Subex has won the order for mobile communication network of Sonatel, Sonatel Mobiles.
Commenting on the contract, Sudesh Yezhuvath, CEO, Software Products Division, Subex Systems said, "We projected Ranger as a perfect fit in an organization like Sonatel Mobiles where revenue integrity is considered mission critical. I believe this difference in approach to Fraud Management was what clinched the deal". Ranger had won contracts from Econet Wireless in Nigeria and Cyprus Telecom Authority (CYTA), Cyprus, earlier this year.
Telcom fraud is a significant problem the world over as the total fraud losses per annum is in excess of US $ 14 billion. This is expected to grow to $30 billion by 2003 with the implementation of new technologies such as GPRS and UMTS, which offer tremendous opportunities for fraudsters. Subex Systems is an Associate Member of the GSM Associatio, which is a body of all the GSM network operators in the world.
Hindalco Industries Q3 results on January 30, 2002
A meeting of board of directors of Hindalco Industries Ltd is scheduled to be held on January 30, 2002 to consider the unaudited financial Results for the quarter ended December 31, 2001.
Syngenta India Q3 results on Jan 24, 2002
A meeting of the board of directors of Syngenta India Ltd is scheduled to be held on January 24, 2002 to consider the financial results of the company for the period ended December 31, 2001.
DSQ Software posts Rs 179.30 million as net loss in DQ 2001
DSQ Software Ltd has posted a net loss of Rs 179.30 million for the quarter ended December 31, 2001 as compared to a net profit of Rs 317.30 million for the same period last year. Total Income for the quarter ended December 31, 2001 is lower at Rs 402.30 million as against Rs 1189.80 million for the quarter ended December 31, 2000.
As directed by SEBI, the board has cancelled the acquisition of Fortuna Technologies Inc, USA.
Bharat Forge announces contracts with Dana Corporation to boost exports
Bharat Forge Ltd has concluded an agreement for the supply of forgings to Dana Corporation's Spincer Europe Ltd operation in Kirkstall, Leeds, U.K. (Kirkstall Forge Division in England and Wales) (Kirkstall).
Bharat Forge will assume Kirkstall's responsibilities as a supplier to the Cameron Division of Cooper Cameron Corporation for gate valve body forgings and choke body, nut and bonnet forgings. Under supply agreements with Dana, Bharat will supply Dana with certain forgings used by its Kirkstall axle operations and its Commercial Vehicle Axle operations in North America.
Supplies under the aforesaid contracts will be made by Bharat Forge from its manufacturing facilities at Mundhwa, Pune, India.
Signing of agreements between Bharat Forge Ltd and Dana will provide quantum boost to the Company's exports to Europe and USA. This will establish Bharat Forge as a major exporter and will help in further enlarging its customer base on a global basis. Under the arrangements between Bharat Forge and Dana, a long-term relationship has been established. The arrangement has been structured to substantially reduce lead time required otherwise for making of samples and final products for supplies. The above arrangement will start yielding results in the form of enhanced exports commencing from the first quarter of the financial year 2002-03. Under the agreement now finalised with Dana, Bharat Forge, over the next seven years, is expected to have additional exports turnover.
Tata Tea Q3 results on January 21, 2002
A meeting of board of directors of Tata Tea Ltd is scheduled to be held on January 21, 2002 to consider and approve the unaudited financial results for the quarter and nine months ended December 31, 2001.
Hinduja TMT Q3 results on Jan 27, 2002
A meeting of the Board of Directors of Hinduja TMT Ltd will be held on January 27, 2002 to consider the unaudited financial results (Provisional) for the Quarter ended December 31, 2001.
Polaris Software Q3 results on Jan 23, 2002
A meeting of the board of directors of Polaris Software Lab Ltd is scheduled to be held on January 23, 2002 to consider and take on record amongst other things the unaudited financial results of the company for the quarter ended December 31, 2001.
ITC Bhadra Q3 net up by 16.87 per cent
ITC Bhadrachalam Paperboards Ltd has posted a net profit of Rs 74.21 million for the quarter ended December 31, 2001 as compared to Rs 63.50 million for the corresponding period last fiscal.
Net Sales are at Rs 1356.41 million for the quarter ended December 31, 2001 as against Rs 1418.73 million for the quarter ended December 31, 2000. Other Income is at Rs 12.96 million in DQ-01 as compared to Rs 22.49 million in DQ-00.
Interest and finance charges have declined from Rs 110.06 million in the quarter ended December 31, 2000 to Rs 81.28 million in the current quarter ended December 31, 2001.
Details of scheme of arrangement of Aptech
Aptech Ltd has informed BSE that pursuant to the Composite Scheme of Arrangement or Reconstruction approved by the Bombay High Court, the Board of Directors of the Company has fixed February 08, 2002 as the record date for determining the entitlements of the shareholders of Aptech Limited to 1,81,47,437 equity shares to be issued and allotted by Aptech Training Limited ("ATL") in the proportion of three (3) equity shares in ATL of Rs 10 each credited as fully paid up for every five (5) equity shares of Rs 10 each held in Aptech Ltd, credited as fully paid up as aforesaid, the shareholders of the company as on record date would continue to hold two equity shares of the company for which fresh share certificates would be issued to the shareholders of the company. Simultaneously three (3) equity shares held by the shareholders on record date in the company will stand cancelled.
Exide Industries Q3 result date preponed to Jan 18, 2002
Exide Industries Ltd has informed BSE that the date of the board meeting for considering the unaudited financial results (Provisional) for the quarter ended December 31, 2001 has been rescheduled and will now be held on January 18, 2002.
The company had earlier informed the BSE that the aforesaid meeting to consider the results was scheduled to be held on January 21, 2002.
Ashok Leyland Q3 results on Jan 25, 2002
A meeting of the board of directors of Ashok Leyland Ltd is scheduled to be held on January 25, 2002 to consider and take on record the unaudited financial results of the company for the quarter ended December 31, 2001.
Partial strike at Wimco's Chennai factory
Wimco Ltd has informed BSE that the workers of the company's factory at Chennai have resorted to stoppage of work in some of the departments resulting in a partial strike. The management is making efforts to resolve the problems to restart the operations.
The company has however stated that there has been no material or significant impact on the operations of the company since the supplies of goods to the areas catered to by the Chennai factory are made through the other factories of the company.
Exide Ind. buyback to commence on Jan 10, 2002
BSE has informed the members of the exchange that Exide Industries Ltd. has announced buyback of its fully paid-up equity shares of face value of Rs 10 each from the open market through electronic trading mechanism of the exchange. The maximum buyback price would not exceed Rs 70 per equity share payable in cash for an aggregate amount not exceeding Rs 251.70 million.
Proposed time table for buyback:
Date of opening of the buyback on BOLT January 10, 2002
Last date for the Buyback- December 23, 2002 or when the company has completed buyback to the extent of 40,00,000 shares under the offer or the date as may be decided by the board of directors of the company, whichever is earlier.
Details of buyback orders on BOLT.
The members may note that the physical equity shares can be offered for buyback to the company in the list of non-specified securities under scrip code, in rolling settlement, as mentioned below:
Code No. : 532445
Market Lot : 1 Share
Scrip ID on BOLT System : EXDBBPH
Abbreviated Name on BOLT System : EXIDE INDUS*
The broker member buying the shares in physical mode under buyback will accept equity shares certificates of any denomination in buyback in respect of physical shares, since the market lot of the physical scrip shown on the BOLT is "one".
The dematerialized equity shares of Exide Industries Limited can be offered for Buyback to the company through the "Buyback" button as mentioned in the Exchange Notice No 73405/2001 dated January 4, 2001 under scrip code no: 500086 in rolling settlement.
Buyer members can alter the price as well as quantity, as it is applicable in the normal trading.
Circuit filters, margins, capital adequacy norms, auction, close out, bad delivery, arbitration, etc are applicable in case of buyback as in the case of the normal trading.
Institutional investors are allowed to sell in buyback mode.
Siemens Q1 results on Jan 18, 2002
A meeting of the board of directors of Siemens Ltd will be held on January 18, 2002 to consider the unaudited financial results of the company for the first quarter ended December 31, 2001.
Bharat Forge Q3 results on Jan 19, 2002
A meeting of the board of directors of Bharat Forge Ltd is scheduled to be held on January 19, 2002 to take on record the unaudited financial results of the company for the quarter ended December 31, 2001.
GSFC Q3 results on Jan 31, 2002
A meeting of the board of directors of Gujarat State Fertilizers & Chemicals Ltd (GSFC) is scheduled to be held on January 31, 2002 for taking on record the unaudited financial results of the company for the quarter ended December 31, 2001.
Sudhir Moravekar acquires 5.15 per cent stake in IT Microsystems
IT Microsystems (India) Ltd has informed BSE that Mr.Sudhir Moravekar has acquired 2,58,119 (5.15 per cent) equity shares of the company through market purchase on January 04, 2002.
BSE announces changes in BSE-200, BSE-500 constituents
BSE has informed the members of the exchange that, the securities of Cabot India Ltd. (Code: 506700) which is part of BSE-500 Index, will be delisted pursuant to compliance with Clause 21(3)(a) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.
BSE has informed the members of the exchange that as per the scheme of arrangement and amalgamation between Rhone-Poulenc India Ltd. and Nicholas Piramal India Ltd., Rhone Poulenc India Ltd. (Code: 506747) which is part of BSE-200 and BSE-500 will enter into no-dealings from January 16, 2002.
The vacancy in BSE-200 Index would be filled in as under:
BSE-200 Index Code Outgoing
506747 Rhone Poulenc India Ltd. Code Incoming
500257 Lupin Ltd.
Two vacancies in BSE-500 Index would be filled in as under:
BSE-500 Index Code Outgoing
506700 Cabot India Ltd.
506747 Rhone Poulenc India Ltd. Code Incoming
531541 Avon Organics
532322 Elder Pharma
The changes would come into effect from the relevant dates i.e. replacement for Cabot India Ltd. would come into effect from January 10, 2002 while replacement for Rhone Poulenc India Ltd. would come into effect from January 16, 2002.
SBI Home Finance to scale down operations
SBI Home Finance Ltd has informed BSE that, in view of the continued inability of the Institutional shareholders of the company to infuse additional capital for reviving the operations of the company in a viable manner, the board has decided to scale down the operations of the company.
K G Khosla Compressors posts Rs 24.40 million as net profit in Q3
K G Khosla Compressors Ltd has posted a net profit of Rs 24.40 million for the quarter ended December 31, 2001 as against a net loss of Rs 13.40 million in the same period last year. Total Income for the for the quarter ended December 31, 2001 is at Rs 331.40 million as compared to Rs 305 million for the quarter ended December 31, 2000.
The net profit/loss for the periods has been arrived after considering Extra-Ordinary Expenditure of Rs 9.60 million for the current quarter and Rs 30.80 million for the quarter ended December 31, 2000.
The board has approved the scheme of Amalgamation of Kirloskar Pneumatic Company Limited with the Company. The Appointed Date is 1st April, 2001.
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