JB Chemicals Q3 net rises 75.02% to Rs 100.46 million

JB Chemicals & Pharmaceuticals Ltd has posted a net profit of Rs 100.46 million for the quarter ended December 31, 2001 as compared to Rs 57.39 million for the corresponding period last fiscal. Net Sales has increased from Rs 649.68 million in DQ-00 to Rs 783.69 million in DQ-01. Other Income is at Rs 23.795 million in the current quarter as against Rs 23.793 million in the same period a year ago.

Mirza Tanners Q3 net down by 39.98%

Mirza Tanners Ltd has posted a net profit of Rs 38.47 million for the quarter ended December 31, 2001 as compared to Rs 64.09 million in the quarter ended December 31, 2000. Total Income for the quarter ended December 31, 2001 is at Rs 492.38 million as against Rs 368.46 million in the quarter ended December 31, 2000.

Dewan Housing Finance Q3 net up by 8.43%

Dewan Housing Finance Corporation Ltd has posted a net profit of Rs 40.72 million for the quarter ended December 31, 2001 as compared to Rs 37.56 million for the quarter ended December 31, 2000. Total Income for the quarter ended December 31, 2001 is at Rs 284.59 million as compared to Rs 264.66 million for the quarter ended December 31, 2000.

Tata Honeywell Q3 net profit up by 120.22%

Tata Honeywell Ltd has reported a net profit of Rs 19.60 million for the quarter ended December 31, 2001 as compared to Rs 8.90 million for the quarter ended December 31, 2000. Total Income for the quarter ended December 31, 2001 is at Rs 406.40 million as compared to Rs 607.90 million for the quarter ended December 31, 2000.

Shasun Chemicals Board to consider hiving off manufacturing unit

In a communication issued to the BSE, Shasun Chemicals and Drugs Ltd has informed that the meeting of the board of directors of the company will be held on January 31, 2002 to consider the proposal to hive off one of the manufacturing unit to a separate company for strategic reasons and for rapid growth.

Dabur India allots shares under ESOP

Dabur India Ltd has informed BSE that the Compensation Committee at its meeting held on Thursday has allotted 16660 fully paid equity shares of Re 1 each for cash at par to the employees of the Company upon the exercise of 1666 options vested in them in terms of Employees Stock Options Scheme of the Company.

KLG Systel posts Rs 7.44 million as net profit in DQ-01

KLG Systel Ltd has posted a net profit of Rs 7.44 million for the quarter ended December 31, 2001 as compared to a net loss of Rs 6.45 million in the quarter ended December 31, 2000. Net Sales/Income from Operations is 176.18% higher at Rs 68.31 million in the current quarter ended December 31, 2001as compared to Rs 24.73 million in the quarter ended December 31, 2000. Other Income has declined from Rs 5.56 million in the quarter ended Dec-00 to Rs 3.78 million in the current quarter.

Marico Q3 net up by 14.03%

Marico Industries Ltd has posted a net profit of Rs 115.40 million for the quarter ended December 31, 2001 as compared to Rs 101.20 million in the corresponding period last fiscal. Total Income has increased from Rs 1701.20 million in DQ-2000 to Rs 1765.10 million in the quarter ended December 31, 2001. The Board has declared a third interim dividend of 35 % (Rs 3.50 per share) for the financial year ending on March 31, 2002.

S Kumars.Com appoints Additional Director

At the meeting of the board of directors of S Kumars.Com Ltd held on Thursday Vijay Kalantri has been appointed as an Additional Director of the company.

Aventis Pharma FY-01 results by March 31, 2002

Aventis Pharma Ltd has informed BSE that the company will be publishing audited financial results for the year ended December 31, 2001 within the stipulated period of 3 months after the year end. Consequently, the Company shall not be publishing the Unaudited Financial Results for the quarter ended December 31, 2001.

LIC Housing Q3 net profit up by 26.55%

LIC Housing Finance Ltd has reported a net profit of Rs 321.20 million for the quarter ended December 31, 2001 as compared to Rs 253.80 million in the corresponding period last year. Total Income for the quarter ended December 31, 2001 is at Rs 2146.50 million as compared to Rs 1863.90 million for the quarter ended December 31, 2000.

Shyam Telecom Q3 results on January 29, 2002

A meeting of the board of directors of Shyam Telecom Ltd will be held on January 29, 2002 to consider and take on record the unaudited quarterly financial results (provisional) for the quarter ended December 31, 2001 amongst other business.

Engineers India Q3 down by 71.23%

Engineers India Ltd has reported a net profit of Rs 114 million for the quarter ended December 31, 2001 as compared to Rs 396.20 million for the same period last year. Total Income for the quarter ended December 31, 2001 is at Rs 1406.70 million as compared to Rs 2258.90 million for the quarter ended December 31, 2000.

HDFC and Chubb Corporation announce JV for non-life insurance

Housing Development Finance Corporation Ltd (HDFC) and Chubb Corporation on Thursday entered into an Joint Venture agreement for non-life insurance. HDFC will hold 74% and Chubb 26% in the new Joint Venture Company, HDFC Chubb General Insurance Ltd, which will initially be capitalised at Rs 1000 million. "After successfully establishing our presence in the life insurance segment, HDFC now plans to tap the growing opportunities in non-life insurance," said Deepak Parekh, Chairman, HDFC. "Chubb is a global leader in non-life insurance with strong presence in Asia. We believe that our understanding of the Indian market and strong service network will combine with Chubb's global expertise in developing innovative insurance products to drive our non-life insurance venture to leadership and excellence." "Chubb Corporation has always believed in the tremendous potential of the Indian insurance sector," said Dean O' Hare, Chairman and CEO, Chubb Corporation. "We have been looking for a partner with a long-term commitment to create a valuable insurance business, which will not only fulfil our business goals, but also contribute towards developing the Indian non-life insurance market. We are proud to announce our JV with HDFC with whom we share a lot of common values." HDFC Chubb General Insurance Ltd will file its application with the IRDA for the R1 registration shortly.

Tisco Q3 net down by 72.95%

Tata Iron & Steel Company Ltd has posted a net profit of Rs 345.40 million for the quarter ended December 31, 2001 as compared to Rs 1276.90 million in the corresponding period last fiscal. Total Income has increased from Rs 16434.50 million in the quarter ended December 31, 2000 to Rs 16946.20 million in DQ 2001. The company has incurred an extra-ordinary expense of Rs 593.60 million towards Employee Separation Compensation in DQ-2001 as compared to Rs 527 million in DQ 2000 towards Employee Separation Compensation. This is in the midst of one of the worst times for the steel industry, downturn in global and domestic economies and international trade restrictions all of which has resulted in lower margins. Tata Steel's continuing improvement initiatives through various cost reduction programmes has helped the Company to achieve the current results. In addition, the product mix has been improvement by increased volumes of cold rolled and coated steels. There have been impressive efforts in terms of branding and initiatives in rural marketing.

Wartsila India FY-01results on Feb 26, 2002

A meeting of the board of directors of Wartsila India Ltd is scheduled to be held on February 26, 2002 to consider and take on record the Audited Financial Results for the financial year ended December 31, 2001.

Sesa Goa Q3 net profit down by 44.81%

Sesa Goa Ltd has posted a net profit of Rs 59.94 million for the current quarter ended December 31, 2001 as against Rs 108.61 million for the same period last fiscal. Net Sales are down by 11.04%, from Rs 988.41 million in the third quarter of the previous year to Rs 879.25 million in the current quarter. Other Income is at Rs 4.13 million in DQ-01 as compared to Rs 3.66 million in DQ-00. Interest Expenditure incurred by the company has fallen from Rs 18.29 million in DQ-00 to Rs 7.72 million in DQ-01.

Mindteck India fixes record date for the purpose of Rights Issue

BSE has informed the members of the exchange that Mindteck India Ltd has fixed February 19, 2002 as the Record date for the purpose of issue of one equity share of Rs 10 each at a premium of Rs 15 per share alongwith one Detachable Warrant of Rs 250 each on rights basis for every twenty five existing equity shares held. Transactions in above-mentioned scrip will be on cum-right basis upto February 05, 2002 and on ex-right basis from February 06, 2002. Terms of Detachable Warrants: - The Warrantholders will be entitled to exercise their right to apply for five equity shares of Rs 10 each at a premium of Rs 40 per share for each warrant held at any time after the date of allotment but before 36 months.

VST Industries Q3 net up by 91.12%

VST Industries Ltd has posted a net profit of Rs 116.20 million for the quarter ended December 31, 2001 as compared to Rs 60.80 million for the quarter ended December 31, 2000. Total Income for the quarter ended December 31, 2001 is at Rs 655 million as compared to Rs 666.20 million for the third quarter of the previous year. Interest expense is down from Rs 14.10 million in DQ-00 to Rs 7.90 million in DQ-01.

Gujarat Ambuja Cements Q2 net up by 75.61%

Gujarat Ambuja Cements Ltd has posted a net profit of Rs 571.60 million for the quarter ended December 31, 2001 as compared to Rs 325.50 million for the quarter ended December 31, 2000. Net Sales is higher at 17.39% higher at Rs 3500.80 million in the quarter ended December 31, 2001 as compared to Rs 2982.20 million in the quarter ended December 31, 2000. Other Income is at Rs 50.60 million in the quarter ended December 31, 2001 as compared to Rs 21.60 million in the quarter ended December 31, 2000. The company has reported that the construction of its new greenfield cement plant at Chandrapur in Maharashtra is almost complete and the load trials have started. During the current quarter, the company has sold 1.802 million tonnes of cement as compared to 1.529 million tonnes in the second quarter of the previous year.

Himatsingka Seide Q3 net down by 13.30%

Himatsingka Seide Ltd has posted a net profit of Rs 105.60 million for the quarter ended December 31, 2001 as compared to Rs 121.80 million for the quarter ended December 31, 2000. Total Income for the quarter ended December 31, 2001 is at Rs 354.10 million as compared to Rs 336.90 million for the quarter ended December 31, 2000. A K Dasgupta, President and CEO of Gherzi Eastern Ltd has been co-opted as an Additional Director of the Company with effect from January 24, 2002.

India Nippon Electricals Q3 net up by 33.03%

India Nippon Electricals Ltd has posted a net profit of Rs 44.70 million for the quarter ended December 31, 2001 as compared to Rs 33.60 million for the quarter ended December 31, 2000. Net Sales for the quarter ended December 31, 2001 is at Rs 264.30 million as compared to Rs 248 million for the quarter ended December 31, 2000. Other Income is at Rs 5.90 million in DQ-01 as compared to Rs 4.50 million in DQ-00.

Aftek Infosys Q2 net profit up by 103.42%

Aftek Infosys Ltd has posted a net profit of Rs 80.67 million for the quarter ended December 31, 2001 as compared to Rs 39.56 million for the quarter ended December 31, 2000. Total Income has increased from Rs 91.09 million in DQ-2000 to Rs 153.76 million in DQ-2001. The company has received significant orders for software development from Europe.

Archies Greetings Q3 net down by 22.64%

Archies Greetings & Gifts Ltd has posted a net profit of Rs 35.16 million for the quarter ended December 31, 2001 as compared to Rs 45.45 million in the corresponding period last fiscal. Total Income has increased from Rs 239.41 million in DQ 2000 to Rs 292.19 million in the quarter ended December 31, 2001. As the company is in the process of implementing a complete change in the distribution and retail network, figures would not be comparable during the transitory period.

Glenmark Pharma discovers anti-diabetic drug

Glenmark Pharmaceuticals Ltd has informed BSE that the Scientist at Glenmark Pharmaceuticals Ltd have established 'Proof of concept' in animal for their antidiabetic/anti-obesity agent GRC-1087. GRC-1087 is a highly potent and selective human Beta 3 adrenoceptor agonist, which has exhibited excellent in vivo activity. In genetically diabetic db/db mice GRC-1087 reduced plasma glucose by over 40% within eight days of treatment and these levels were maintained over the next seven days. Additionally, GRC-1087 also reduced triglyceride levels substantially as compared to the controls. Preliminary pharmacokinetics of GRC-1087 suggested that the compound was well absorbed, with sufficient blood levels observed even after 24 hours of dosing in mice. Additionally no acute toxicity was observed in doses upto 2gms/kg. Following this, Glenmark is likely to complete its pre-clinical studies by the second half of the year and initiate Phase 1 clinicals studies in Europe. Glenmark is also scouting for partners to take the molecule into clinical trials. Glenmark has development this compound at its New Drug Discovery Center in Mumbai, where it employs over 100 scientist. The Centre focuses on R&D in areas of Drug Discovery. It conducts New Chemicals Entity research in areas of asthma, obesity and diabetes.

UB Board identifies strategic partner for beer business

UB Group has announced its intention to forge a strategic alliance with Scottish and Newcastle. S & N is a leading brewer and amongst the top ten breweries in the world with a market capitalization of USD 6.40 billion and turnover of US 6 billion. S&N owns a range of international beer brands including Kronenbourg, John Smiths, Newcastle Brown 'Ale' and the exclusive rights for the Fosters brands in Europe. The proposed alliance between UBG and S&N is the first of its kind in the Indian Beer Industry. It is intended that S&N will market its international brands through its strategic alliance in India and UB will utilise the global network of S&N for distribution of its internationally renowned Kingfisher brand. United Breweries Ltd, the flagship company of the UB Group announced its intentions last year to demerge its beer business into a separate entity into which would be inducted a strategic international partner. After discussions with a number of leading international brewery companies. UBG has reached agreement in principle, with S&N as its proposed partner who is expected to invest approximately INR 4300 million in the alliance. S&N have agreed to invest INR 2500 mn into the de-merged beer business through a combination of Preference Shares (INR 2,000mn) and Loan Stock (INR 500mn). Both these instruments will carry an option for conversion into equity of UBB which could result in S&N holding upto 26 per cent equity of UBB. S&N also intend to invest approximately INR 1650-1750 mn in a Joint Venture Company with UBG. UBG and S&N will have an equal shareholding with the balance of the equity owned by the management in the ratio 40:40:20 respectively. Ravi Jain, formerly managing director of Shaw Wallace & Co Ltd, will manage the proposed new joint venture.

ICICI Q3 net up by 1.27%, declares 55% interim dividend

ICICI Ltd has posted a net profit of Rs 2561.50 million for the quarter ended December 31, 2001 as compared to Rs 2529.30 million for the corresponding period last fiscal. Total Income has increased from Rs 22695.20 million in DQ-2000 to Rs 23309.80 million in the quarter ended December 31, 2001. The board of directors have declared an interim dividend of Rs 5.50 per share of Rs 10 each, (55%) aggregating to Rs 4760 million (including corporate dividend tax thereon), for financial year 2001-02.

First Bank of Nigeria Plc to leverage Infosys Enterprise Banking e-Platform

Infosys Technologies Ltd has announced a strategic technology partnership with First Bank of Nigeria Plc, (FBN) the largest Bank in West Africa, to deploy Infosys Enterprise Banking e-Platform suite of solutions comprising Finacle - the new generation core banking solution, BankAway - the powerful and comprehensive internet banking solution and BancsConnect - the financial Middleware. Incorporated in 1894, First Bank of Nigeria Plc is the largest bank in operation in Nigeria as well as West Africa as a whole. The Bank has embarked on all-encompassing technology driven Enterprise Business Transformation to take on the challenges and seize the opportunities of the emerging new age banking and reinvest in the process. The bank envisages that the deployment of a new generation enterprise-banking platform is a critical and central component of this strategic initiative. FBN chose Finacle after a thorough and structured evaluation based on a global tender anchored by Accenture. FBN will be replacing the existing application Bankmaster from Kindle Systems, UK with Finacle.

Varun Shipping Q3 net profit down by 14.95%

Varun Shipping Company Ltd has reported a net profit of Rs 25.54 million as compared to Rs 30.03 million for the same period last year. Total Income for the current quarter ended December 31, 2001 is at Rs 532.19 million as compared to Rs 510.39 million for the quarter ended December 31, 2000. The Company is evaluating various proposals for ship acquisition and hopes to take maximum advantage of recent weakness in prices of secondhand ships in the international market.

Aptech to publish FY-01 results by March 31, 2002

Aptech Ltd has informed BSE that the Company shall publish the audited results within a period of three months from the end of the last quarter of the financial year i.e December 31, 2001. Hence the Company would not be publishing the unaudited financial year results for the quarter ended December 31, 2001.

Tata Power Q3 net up by 5.88%

Tata Power Company Ltd has reported a net profit of Rs 1080 million for the current quarter ended December 31, 2001 as compared to Rs 1020 million for the corresponding period last year. Net Sales for the quarter ended December 31, 2001 is at Rs 9300 million as compared to Rs 8870 million for the quarter ended December 31, 2000. Other Income for the quarter ended December 31, 2001 is at Rs 640 million as compared to Rs 360 million in the quarter ended December 31, 2000. Interest Expenditure has increased from 580 million in DQ-00 to Rs 720 million in DQ-01.

ICRA revises rating of Shaw Wallace Gelatines NCD from LA to LBBB

Shaw Wallace Gelatines Ltd has informed BSE that ICRA has revised its rating of the company's NCD from LA to LBBB.

Colgate-Palmolive fixes record date for Interim Dividend

Colgate-Palmolive (India) Ltd has fixed February 22, 2002 as the record date for the purpose of interim dividend.

Heritage Foods buy-back to commence on Jan 24, 2002

BSE has informed the members of the Exchange that Heritage Foods (India) Limited 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 30 (Rupees Thirty Only) per equity share payable in cash for an aggregate amount not exceeding Rs 30 million. Proposed time table for buyback: Date of Opening of the Buyback on BOLT January 24, 2002 Last date for the Buyback January 03, 2003 or when the company has completed buyback to the extent of 14,00,000 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 as mentioned below: Code No. : 532448 Market Lot : 1 Share Scrip ID on BOLT System : HERBBPH Abbreviated Name on BOLT System : HERITAGE FO* 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 Heritage Foods (India) Ltd. 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: 519552 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.

Atcom Technologies members approve issue of convertible warrants on preferential basis

Atcom Technologies Ltd has informed BSE that at the EGM of the company held on January 21, 2002 members have approved as under : 1. Issue of 4.50 million warrants convertible into equity shares on preferential basis, for cash consideration, as per SEBI Guidelines, to promoters, directors, their associates & relatives. The warrant holders has the option to subscribe to, in cash and be allotted one equity share of Rs.10/- each per warrant at a price of Rs.28.86 determined as per Guidelines. 2. Sharad A Doshi has been appointed as Senior Vice President - Legal, Secretarial & Corporate Affairs.

Global Infrastructure to settle FD holders dues by equity share issue

Global Infrastructure & Technologies Ltd has informed BSE that the Board of Directors of the company has approved further issue of equity shares to those Fixed Deposit holders of the company who have consented to accept the allotment of shares in lieu of repayment of their entire dues of Fixed Deposit amount kept with the company. EGM of the company will be held on February 14, 2002.

Phoenix Lamps India to call EGM to seek members approval on preferential issue

Phoenix Lamps India Ltd has informed BSE that the EGM of the company will be held on February 16, 2002 to consider issue of 13,49,300 equity shares of Rs 10 each at par to Industrial Development Bank of India on preferential basis. Further, the company has informed that, the Hon'ble High Court of Allahabad has directed company to hold a General Meeting of shareholders of equity and preference and Creditors on February 16, 2002 for getting their approval for scheme of arrangement for reorganisation between company and its shareholders.