Gordon Woodroffe Board to consider scheme of arrangement with shareholders

A meeting of the board of directors of Gordon Woodroffe Ltd will be held on January 22, 2002 to consider a scheme of Arrangement proposed between the company and the shareholders under Section 391 to Section 394 read with Section 100 of the Companies Act, 1956.

Zuari Cement makes open offer to acquire 5.30 per cent stake in Sri Vishnu Cement at Rs 147.30 per share

Lazard India Ltd on behalf of Zuari Cement Ltd is making an open offer to acquire upto 12,55,640 fully paid up equity shares and 1400 partly paid up equity shares of Rs 10 each, together representing approximately 5.30 per cent of the voting equity share capital of Sri Vishnu Cement Ltd at a price of Rs 147.30 per fully paid up equity share. The offer price with regard to the partly paid up equity shares will be reduced by the amount of calls in arrears with respect to each per partly paid up equity share. This is pursuant to the Share Purchase Agreement with the current promoters India Cements Ltd and ICL Securities Ltd (Promoters) of Sri Vishnu Cement Ltd on January 10, 2002 to acquire the entire shareholding of the Promoters in Sri Vishnu Cement i.e 2,24,62,960 fully paid equity shares of Rs 10 each representing approximately 94.370 per cent of the issued, subscribed and paid up capital of the Company for a total consideration of Rs 330,87,70,406 for cash i.e. at a price of approximately Rs 147.30 per fully paid up equity share. The offer is unconditional and not subject to any minimum level of acceptance. The Specified Date (i.e. for the purpose of determining the names of the shareholders to whom the Letter of Offer would be sent) has been fixed at January 15, 2002 The offer will open on February 14, 2002 and will close on March 16, 2002.

HFCL Q3 results on Jan 31, 2002

A meeting of the board of directors of Himachal Futuristic Communications Ltd will be held on January 31, 2002 to take on record the unaudited results of the company for the third quarter ended December 31, 2001.

Britannia Industries Q3 results on Jan 31, 2002

A meeting of the board of directors of Britannia Industries Ltd will be held on January 31, 2002 to consider and take on record the unaudited quarterly results of the company for the quarter ended December 31, 2001.

Dr Reddy's Lab to sponsor research on Type II diabetes

Dr. Reddy' Laboratories Ltd is sponsoring a five-year collaborative research study between the Madras Diabetes Research Foundation (MDRF) of Chennai and Indian Institute of Science (IISc) Bangalore on the genetics of diabetes and insulin resistance. The study is significant as India is estimated to have 19.50 million diabetics - the largest number for any country in the world. Diabetes is of two types - Type I, where the body produces insufficient insulin and Type II, where insulin is produced, but the body is resistant to it. Type II diabetes is far more prevalent and accounts for more than 90 per cent of diabetic cases worldwide. The research study will investigate the sequence polymorphism of several susceptibility genes in families known to have a predisposition to Type II diabetes. Expression profiling of insulin responsive tissues will also be undertaken. This will thrown light on the cause and etiology of Type II diabetes. Mohan will be the project leader for MDRF in the study and Professor M R S Rao, Astra Professor and Chairman, Dept of Biochemistry, will be the project leader for IISc.

Hikal Q3 net profit up by 11.11%

Hikal Ltd has posted a net profit of Rs 56 million for the quarter ended December 31, 2001 as compared to Rs 50.40 million for the quarter ended December 30, 2000. Total Income has increased from Rs 264.90 million in DQ-2000 to Rs 283.70 million in the quarter ended December 31, 2001. Interest costs have fallen from Rs 24.60 million in DQ 2000 to Rs 19.10 million in DQ 2001.

Rajratan Gustav Board to consider buy back

Rajratan Gustav Wolf Ltd has informed BSE that a meeting of the board of directors of the company is scheduled to be held on January 30, 2002 to consider taking on the record unaudited provisional financial results of the company for the third quarter ended December 31, 2001 of the financial year 2001-2002. The aforesaid meeting will also consider the buy back upto 10 per cent of the paid up capital of the company.

Mastek Group issues guidance for FY 2002

In a press release issued in relation to Mastek Group results, Ashank Desai, chairman and managing director, commenting on the performance said, "The last quarter was filled with many uncertainties, due to impact of now-official US recession and September-11 events. Although we now see a few positive signals, it would be somewhat early to take any call on likely upturn in demand. In Mastek, we have focussed on continuously enhancing the effectiveness of our sales efforts in penetrating Fortune 1000 accounts. The result of this is steadily getting reflecting in the prospects pipeline & customer acquisitions in US." Guidance: On reviewing the past six months performance, for FY 2002 the company maintains its guidance of 10 per cent to 15 per cent growth in revenues while revises upward its profit (after tax) growth guidance to 150 per cent from 100 per cent given earlier.

Mastek Q2 net up by 236.07%

Mastek India Ltd has posted a net profit of Rs 94.10 million for the quarter ended December 31, 2001 as compared to Rs 28 million for the quarter ended December 30, 2000. Total Income has increased from Rs 211 million in DQ 2000 to Rs 244.70 million in the quarter ended December 31, 2001. Mastek Group i.e. Mastek and its wholly owned subsidiaries in USA, UK, Germany, Belgium, Singapore and Malaysia (net of inter-company sales) has posted a net profit of 60.90 million for the quarter ended December 31, 2001 as against Rs 30.10 million for the quarter ended December 31, 2000. Total Revenue for the Group as a whole is at Rs 655.50 million in the quarter ended December 31, 2001 as against Rs 668.90 million for the corresponding period last fiscal.

Crest Comm to call EGM to seek members' approval for increase in authorised capital

Crest Communications Ltd has informed BSE that the board of directors of the company at its meeting held on Friday has passed a resolution for holding an extra-ordinary general meeting of the company to obtain approval of the shareholders for increase in authorised capital to accommodate the proposed rights issue.

Trent Q3 results on January 29, 2002

A meeting of the board of directors of Trent Ltd will be held on January 29, 2002 to consider and to take on record the unaudited financial results for the quarter ended December 31, 2001.

Hindustan Zinc Q3 results on Jan 21, 2002

Hindustan Zinc Ltd has informed BSE that the quarterly un-audited results for the period ended on December 31, 2001 will be considered in the board meeting scheduled to be held on January 21, 2002.

Hughes Software allots shares under ESOP

The board of directors of Hughes Software Systems Ltd at its meeting held on January 9, 2002 has allotted a total of 197 equity shares to the employees of the company under the employees stock offer plan. These shares shall rank pari passu with the existing shares of the company.

Cummins India Q3 results on January 22, 2002

A meeting of the board of directors of the Cummins India Ltd is scheduled to be held on January 22, 2002 to consider unaudited financial results for the quarter and nine months ended December 31, 2001.

RayBan Sun Optics Q3 results on January 28, 2002

A meeting of the board of directors of Ray Ban Sun Optics Ltd is scheduled to be held on January 28, 2002 to consider among other things, unaudited financial results for the quarter ended December 31, 2001.

HDFC Q3 net up by 21.92%

Housing Development Finance Corporation Ltd has posted a net profit of Rs 1210.10 million for the quarter ended December 31, 2001 as compared to Rs 992.50 million for the same period last year. Income from operations is increased by 14.73 per cent, from Rs 5798.10 million in the quarter ended December 31, 2000 to Rs 6652.20 million in the current quarter ended December 31, 2001. Other Income is at Rs 10.60 million in DQ-01 as against Rs 0.20 million in DQ-00. Both approvals and disbursements in respect of individual loans increased by 55 per cent during the quarter ended December 31, 2001, as compared to the corresponding period in the previous year. The loan portfolio, inclusive of investment in preference shares and debentures for financing real estate projects, as on December 31, 2001 amounted to Rs 169185.70 million representing an increase of 32 per cent as compared to the corresponding figure as on December 31, 2000.

BSEL Info Board to consider change in management structure

BSEL Information Systems Ltd has informed BSE that the meeting of the board of directors of the company will be held on January 11, 2002 to transact the following business. 1. To consider appointment of Kartik D Sheth as an additional director and managing director of the company. 2. To consider appointment of Hitesh D Vora as a whole time director of the company. 3. To consider appointment of Gaurang R Sanghavi as an additional director of the company. 4. Any other item with the permission of the chair.

Balrampur Chini Mills to consider terms of buy-back to comply with SEBI regulations

A meeting of the board of directors of Balrampur Chini Mills Ltd is scheduled to be held on January 21, 2002 to consider inter alia terms of buyback to comply with the SEBI regulations. At the aforesaid meeting the board will also consider inter alia unaudited financial results for the third quarter ended December 31, 2001. The board of directors of Balrampur Chini Mills Ltd at its meeting held on December 24, 2001 had approved the buy-back of company`s fully paid equity shares of Rs 10 each out of free reserves not exceeding 10 per cent of the total equity paid up capital at a price not exceeding Rs 100 per share by way of purchase from the open market through stock exchanges.

Trading to resume in Abacus Computers from Jan 14, 2002

BSE has informed the members of the exchange that trading in Abacus Computers Ltd can now be resumed w.e.f January 14, 2002. BSE had earlier informed the members of the exchange not to deal in the securities of the aforesaid company.

Zenith members approve business restructuring

Zenith Ltd has informed BSE that at the EGM of the company held on January 7, 2002 members have approved, subject to necessary approvals, to carry out restructuring exercise by way of sell/transfer/lease or de-merge any one or more of the company's Chemical Division, Textile Division or Tools Division.

William "Chris" Brown takes over as CEO of Aztec Software; Parthasarathy to be full time Chairman

Aztech Software & Technology Services Ltd has on Friday announced the appointment of William "Chris" Brown, as chief executive officer of its global operations. As CEO, Chris will be responsible for Aztec's global operations and will report to the Board. He will be based in Boston, USA. Also in the meeting held on January 10, 2002, the board of directors inducted Chris Brown, as an additional director of the company. Chris takes over from S Parthasarathy, who will continue to be the chairman of the company. Being the full time chairman, he will be closely involved in the affairs of the company. Aztec confirmed that this is a natural step in its transition to the Enterprise Market and will help in its future growth plans. "Having Chris at the helm of affairs, will free me from day to day activities and enable me to drive the specific strategy initiatives important to the company. It also gives me tremendous confidence that a person with Chris' experience, abilities and maturity will steer us through these tough times", said S. Parthasarathy, Chairman of the company.

Otco International to venture into online insurance education-biz

Otco International Ltd has informed BSE that the Board of Directors of the company has decided as under : 1. To enter into a new line of business called Insure Academy to provide online insurance education. 2. To make a strategic investment in Guardian Healthcare Management Pvt. Ltd. which is seeking license from IRDA for Third Party Administration as a company proposes to develop its Domain expertise and business in the healthcare and health insurance sector.

D-Link to call EGM to seek members' approval for stock split

D-Link (India) Ltd has informed BSE that the EGM of the company will be held on February 2, 2002 to approve the sub-division of 1 equity share of Rs 10 each fully paid-up into five equity shares of Rs 2 each fully paid up.

Zee Telefilms Q3 results on Jan 16, 2002

Zee Telefilms Ltd has informed BSE that a meeting of the board of directors of the company will be held on January 16, 2002 to consider and take on record the unaudited financial results for the third quarter ended December 31, 2001.

Zuari Cement to buy equity stake in Sri Vishnu Cement from India Cements & its subsidiaries

India Cements Ltd has informed BSE that on the decision of the Board of Directors to sell its entire equity share holding in Sri Vishnu Cement Ltd, the company has signed a 'Share Purchase Agreement' with Zuari Cement Ltd for the sale of 93,68,700 equity shares of Rs 10 each (constituting about 39.5 per cent of the equity share capital of Sri Vishnu Cement Ltd). ICL Securities Ltd, a wholly owned subsidiary of the company, has also signed the agreement to sell its entire holding of 130,94,260 equity shares of Rs 10 each (constituting about 55.2 per cent of equity share capital of Sri Vishnu Cement Ltd) to Zuari Cement Ltd. The sale of the aforesaid shares is based on total enterprise value of Rs 3850 million.

BSE imposes special margin on Odyssey Technologies

BSE has informed the members of the exchange that special margin of 25 per cent has been imposed on Odyssey Technologies Ltd with effect from Friday. Special margins will be imposed on the basis of clientwise gross or sale position.

Trading in Design Auto Systems to be suspended from Jan 14, 2002

BSE has informed the members of the exchange that it has decided to suspend trading in the securities of the Design Auto Systems Ltd with effect from January 14, 2002. This is to avoid further market complications as it has been brought to the notice of the exchange that trading in the unlisted securities of Design Auto Systems Ltd has been taking place on the exchange.

Cipla Q3 results on January 19, 2002

A meeting of the board of directors of the Cipla Ltd is scheduled to be held on January 19, 2002 to consider unaudited financial results for the quarter ended December 31, 2001.

Thomas Cook fixes book closure for the purpose of dividend

BSE has informed members of the exchange that Thomas Cook (India) Ltd has fixed the period from February 12, 2002 to February 28, 2002 as book closure for the purpose of payment of 28 per cent dividend and AGM.