With reference to the news article appearing in a leading financial daily stating " Stake sale buzz props Adhikari Brothers" Sri Adhikari Brothers Television Network Ltd has informed BSE that the Company is not having any negotiation with Zee Telefilms Ltd to offer any strategic equity stake. The Company has further informed that the news item is purely a market rumor and is not based on the information provided by the Company.
Latex Mill Owners group from Thailand visit Alfa Laval India Pune on June 17, 2002
A delegation from Thailand consisting, of Latex Mill owners alongwith Mr Bengt Norrgren, Managing Director, Alfa Laval Thailand today visited the plant of Swedish Multinational's subsidiary Alfa Laval India Ltd in Pune which is the business of manufacturing high speed centrifuges catering to the needs of the customers worldwide in various market segments like ship building, Vegetable Oil Refinery, Winery etc, besides the Latex industry.
On the occasion of this visit Mr Satish Tandon, Managing Director of Alfa Laval India expressed: "As a part of globalisation, Alfa Laval India is in the process of exploring the market in South East Asia and such visits from the customers would show its capabilities and open a new avenue for marketing not only High Speed separators but also for selling the other products and projects to countries like Thailand, Malaysia, Indonesia, Vietnam etc. This will not only earn exchange for the country but will increase the Alfa Laval Group's market share in South East Asia.
Gas Authority of India Ltd has commenced operations for carrying commercial traffic along the Delhi-Ahmedabad Mumbai optical fiber cable (OFC) route on May 30, 2002.
Gail's Telecom arm, the first bandwith provider in the country to operate with service level agreement (SLA) has since August 2000 achieved optical fibre coverage of 4000 km including the high density Delhi-Mumbai route in the Phase 1 expansion project and is currently in the process of completing phase 11 for creating redundancy for Delhi-Mumbai route. After this phase, the network would cover 63 major demand centres in the North-West Corridor.
Establishment of a safe and high-capacity optical fibre link along this prime route has made GAIL Tel, the preferred choice for major ISPs, CSPs and fixed service providers in the country.
HindLever Chem fixes book closure for AGM
HindLever Chemicals Ltd has fixed August 01, 2002 to August 10, 2002 (both days inclusive) in connection with the payment of dividend for the 15 months ended March 31, 2002 and the forthcoming AGM of the company.
Fitch affirms Ind AAA rating for Secured NCD programme of Indo Gulf Corp
Indo Gulf Corporation Ltd has informed BSE that Fitch Ratings India Pvt Ltd has affirmed the Ind AAA rating for the Secured Redeemable Non-Convertible Debentures programme of the company for an amount of Rs 5000 million.
BASF fixes book closure for AGM
BASF India Ltd has fixed the book closure from July 24, 2002 to August 02, 2002 both days inclusive for the purpose of Annual General Meeting to be held on August 02, 2002 and for determining the eligibility of members entitled to dividend that may be declared for the financial year ended March 31, 2002 subject to the approval of the members at the ensuing Annual General Meeting.
Electrosteel Castings Q4 net up by 120.91%, FY-02 net up by 33.94%
Electrosteel Castings Ltd has posted a net profit of Rs 336.90 million for the quarter ended March 31, 2002 as compared to Rs 152.50 million for the quarter ended March 31, 2001. Total Income has increased from Rs 1552.90 million in MQ-01 to Rs 1836.80 million in the quarter ended March 31, 2002.
The company has posted a net profit of Rs 846.10 million in the year ended March 31, 2002 as compared to Rs 631.70 million in the year ended March 31, 2001. Total Income has increased from Rs 5009.90 million in the year ended March 31, 2001 to Rs 5401.50 million in the year ended March 31, 2002.
The Board has recommended a Dividend of Rs 10/- per share (100%) for the year ended March 31, 2002.
Apollo Hospitals Q4 net down by 41%, FY-02 net down by 19.54%
Apollo Hospitals Enterprise Ltd has posted a net profit of Rs 59 million for the quarter ended March 31, 2002 as compared to Rs 100 million in the quarter ended March 31, 2001. Total Income has increased from Rs 884 million in MQ-01 to Rs 1050 million in the quarter ended March 31, 2002.
The company has posted a net profit of Rs 247 million for the financial year ended March 31, 2002 as compared to Rs 307 million in the year ended March 31, 2001. Total Income has increased from Rs 3226 million in FY-01 to Rs 3768 million in the year ended March 31, 2002.
The Board has recommended a dividend of 25% for the year ended March 31, 2002.
Gujarat Ambuja Exports to consider reduction in equity capital
A meeting of Board of Director of Gujarat Ambuja Exports Ltd is scheduled to held on June 22, 2002 to consider the following business.
To consider the proposal of arrangement with Equity Shareholders of the Company for purchase of upto 60% of Issued, Paid-up and Subscribed Equity Shares of the Company and consequent reduction of the share capital. On approval of Board of Directors of the Company necessary application, petition will be moved at the Hon'ble High Court of Gujarat under section of the Companies Act, 1956 to get direction to convene the meeting of the Equity Shareholders, Secured & Unsecured Creditors of the Company, as may be required and directed and to get required approval for the said Scheme of Arrangement with Equity Shareholders and Capital reduction.
The company has further informed that at the meeting of Board of Directors held on April 30, 2002, the Board had given approval for arrangement with Equity Shareholders of the Company holding upto 30 Equity Shares of the Company for purchase of the said shares and consequent cancellation of the Equity Shares which will not be pursued if the above proposal is approved.
At the meeting of April 30, 2002 the Board of Directors of the Company had also approved the De-merger of NON RTA division of Jupiter Corporate Services Limited into it and also amalgamation of Jupiter Biotech Limited with it. Required application and/or petition will be moved before the Hon'ble High Court of Gujarat Separately for the said purpose in due course of time.
M&M Q4 net at Rs 943.86 million, FY-02 net profit at Rs 969.15 million
Mahindra & Mahindra Ltd has posted a net profit of Rs 943.86 million for the quarter ended March 31, 2002 as compared to Rs 292.95 million for the quarter ended March 31, 2001. Total Income (net of excise) has decreased from Rs 9519.57 million in MQ-01 to Rs 9224.06 million in the quarter ended March 31, 2002.
The company has posted a net profit of Rs 969.15 million for the year ended March 31, 2002 as compared to Rs 1205.56 million in the year ended March 31, 2001. Total Income (net of excise) has decreased from Rs 35975.29 million in the year ended March 31, 2001 to Rs 33203.16 million in the year ended March 31, 2002.
The net profit for the quarter ended March 31, 2002 has been arrived at after consideration of prior period adjustments of Rs 35.49 million and Rs 57.79 million in FY-02. The company has incurred an extraordinary exp of Rs 172.86 million in FY-02 & earned Rs 123.02 million as extraordinary income during the quarter ended March 31, 2002.
The Board has recommended a dividend of 50% (Rs 5 per share).
Philips to seek shareholders approval for scheme of amalgamation
Philips India Ltd has informed BSE that the Hon'ble High Court at Calcutta has directed company to hold a General Meeting of shareholders on June19, 20002 for getting their approval for scheme of amalgamation of Philips Glass India Ltd., Punjab Anand Lamp Industries Ltd. and Electric Lamp Manufacturers (I) Ltd with the company.
BankWare™: Polaris Software's banking product to be implemented in Shinsei Group - Japan
BankWare™, the banking products unit of Polaris Software Lab Ltd, today (June 17, 2002) that is had bagged a large contract with Japanese, banking major, Shinsei Bank Ltd and its group companies ("Shinsei Group") to implement its suite of core retail banking products. BankWare ™ suite will be implemented across all Shinsei Group companies and will be used by Shinsei Information Technologies ("SIT") to offer solutions to other Japanese banks as well.
Shinsei's selection of the BankWare™ suite comes after rigorous evaluation by Shinsei of other banking technology solution providers, and signals the technological supremacy of the BankWare framework, coupled with the techno-banking expertise of Polaris. Shinsei will avail of BankNow, the core banking technology products that focuses on deposits, loans and collaterals management, eNow Plus, for cross channel integration and internal banking and CIF, the customer aggregator.
Polaris is confident that is diligent mapping and opening up of the Asian banking marketplace will produce significant results and significantly grow BankWare™'s market share in the region. Arun Jain, Chairman & Managing Director and CEO, Polaris Software Lab said, "The Japanese market is challenging and the expertise that we have nurtured through our relationships, provides us the necessary expertise to sign on more high powered relationships in this region. Polaris' selection by the Shinsei Group, reflects the twin focus that we have developed vis-ŕ-vis the Japanese markets for our products and solutions."
Bharti Tele-Ventures subsidiary to launch cellular operations in MP
Bharti Tele-Ventures Ltd has informed BSE that M/s. Bharti Cellular Ltd, a wholly owned subsidiary of the company which is holding license for providing cellular mobile telephone services in the cellular circle of Madhya Pradesh would be formally launching its operations.
BSE revises Special Margin on 72 scrips
BSE has informed the members of the exchange that the following scrips will attract Special Margins as indicated hereunder with effect from today (June 17, 2002). The rates of Special Margins have been revised keeping in view the closing price of the scrip on the last day of the settlement.
Special margins will be imposed on the basis of memberwise gross purchase or sales position (clientwise net) as indicated below :
CODE NAME GROUP PER SHARE(PURCHASE)(%) PER SHARE (SALE)(%)
530707 AFTEK INFOSYS B1 25
531924 ALPS INFOSYS B2 50
532311 AMEX INFORMATIO B2 25
500029 AUTOLITE B2 25
532161 BAFFIN ENGINEER B2 25
517544 C MAC CENTUM B1 25
513353 COCHIN REFINERY B2 25
508814 COSMO FILMS B2 25
531943 CSJ TECHNOLOGY B2 25
532419 D LINK INDIA B1 25
523618 DREDGING CORP B1 25
526677 DSJ COMM B2 25
532365 DYNACON SYSTEM B2 25
509028 E SERVE IN B1 25
532417 E STAR INFOTECH B2 25
504008 EMCO B1 25
506156 ETC NETWORKS B2 25
526881 FINANCE TECH B2 25
532326 FORTUNE INFO B2 25
506109 GENESYS INTER B1 25
531939 GENIUS COMMU TR B2 25
503699 GEODESIC INF B2 25
532312 GEOMETRIC SOFT B1 25
509073 HATHWAY BHAWANI B2 25
500185 HIND CONSTRUC B1 25
500207 INDO RAMA SYN B1 25
532010 INDOTECH CAPITA B2 25
532175 INFOTECH ENTERP B1 50
512447 INNOVISION E B2 25
524494 IPCA LABORATOR B1 25
507480 ISHWAR MEDICAL B2 25
531816 IT MICROSYSTEM B2 25
506943 J B CHEMICALS B1 25
500107 JINDAL IRON B2 25
532256 JINDAL STRIPS B2 25
500228 JINDAL VIJAY B2 25
531269 KLG SYSTEL B1 25
524518 KREBS BIOCHEM B1 25
520061 LAKSHMI AUTO B1 25
531458 LASER EYE CARE B2 25
500266 MAHARASTRA SCOO B1 25
532337 MASCOT SYSTEM B1 25
531417 MEGA CORPORN B2 25
532307 MELSTAR INFOR B1 25
520043 MUNJAL SHOWA B1 25
523630 NATIONAL FERT B2 25
513179 NATIONAL STEEL B2 25
504112 NELCO B1 25
531209 NUCLEUS SOFTWAR B1 25
520021 OMAX AUTOS B1 50
532091 ORBIT MULTMEDIA B2 25
532350 PADMALAYA TELE B1 25
506852 PUNJAB ALKALI B2 25
506618 PUNJAB CHEMICAL B2 25
500346 PUNJAB COMM B1 25
513583 S B & T B1 25
532361 SHAPRE GLOBAL B2 25
532348 SUBEX SYSTEM B1 25
504920 SWIL B2 25
504290 TATA INFOTEC B1 25
500463 TATA TELECOM B1 25
532358 TELE DATA INF B2 25
531554 TOP TELEMEDIA B2 25
531659 TRANSNAT SEC B2 25
500423 TVS ELECTRONICS B1 25
513216 UTTAM STEEL B2 25
530769 VEL SOFTWARE B2 25
532214 VISUAL SOFTWARE B1 25
532325 VITAL COMM B2 25
500950 WIMCO B1 25
504067 ZENSTAR TECHNOL B1 25
532177 ZIGMA SOFTWARE B2 25
BPCL FY-02 results on June 26, 2002
A meeting of the Board of Directors of Bharat Petroleum Corporation Ltd will be held on June 26, 2002 to take on record the audited financial results of the company for the accounting year ended March 31, 2002. At the said meeting the Board will also consider recommendation of dividend for the year 2001-2002.
E Merck to appeal against order of Central Excise with CEGAT
E Merck India Ltd has informed BSE that in the audited accounts of the company for the year ended December 31, 2001, the company had shown by way of notes 'Contingent Liabilities not provided for' in respect of excise demands disputed by the company pending adjudication to Rs 110.90 million.
In this regard one of the above referred demands has been adjudicated by the Commissioner (Adj) of Central Excise, Mumbai vide order dated June 11, 2002 rejecting the contentions of the company confirming the excise duty and penalty aggregating Rs 6,95,81,104 plus interest @20%. The company however proposes to prefer an appeal against the aforesaid order with the CEGAT.
UTI Bank Q1 results on July 10, 2002
A meeting of the Board of Directors of UTI Bank Ltd will be held on July 10, 2002 to consider and take on record the unaudited financial results for the quarter ending June30, 2002.
Amara Raja Batteries FY-02 results on June 25, 2002
A meeting of the Board of Directors of Amara Raja Batteries Ltd will be held on June 25, 2002 to take on record the audited financial results of the company for the accounting year ended March 31, 2002 and to also consider recommendation of dividend if any for the year 2001-2002.
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