A meeting of the Board of Directors of Bank of Baroda will be held on June 04, 2002 to consider the following:
Approval and adoption of Bank's accounts for the year ended March 31, 2002.
Proposal for recommendation of dividend.
Kaashyap Radiant systems to consider preferential allotment of Equity shares/warrants, bonus issue
Kaashyap Radiant Systems Ltd has informed BSE that a meeting of the Board of Directors of the Company shall be held on May 24, 2002 to consider and decide the date, time & agenda and to approve the notice of the EGM of the company for considering
1. The preferential allotment of equity shares/warrants/OFCD of the Company to M/s Satnet Services Ltd, Chennai a Company engaged in the business of telephonic, messaging services and developing national & international telecommunication products.
2. The bonus issue of Equity shares & Debentures of the Company.
Himatsingka Seide Q4 net down by 30.78%, FY-02 net down by 9.67%
Himatsingka Seide Ltd has posted a net profit of Rs 75.10 million for the quarter ended March 31, 2002 as compared to Rs 108.50 million for the quarter ended March 31, 2001. Total Income has decreased from Rs 365.60 million in the quarter ended March 31, 2001 to Rs 305.70 million in the quarter ended March 31, 2002.
The company has posted a net profit of Rs 380.90 million for the year ended March 31, 2002 as against Rs 421.70 million in the year ended March 31, 2001. Total Income has decreased from Rs 1300.70 million in FY-2001 to Rs 1294.80 million in the year ended March 31, 2002.
Matrix Labs makes open offer to acquire 20% stake in Medicorp Tech at Rs 23
SMIFS Capital Markets Ltd has informed BSE that Matrix Laboratories Ltd (Acquirer) has entered into an agreement on May 17, 2002 with Shriram Capital Trust Ltd, Shriram Chits Pvt Ltd, Shriram Properties Ltd, Rambal Ltd., Shriram Holdings Madras Pvt Ltd and Shriram Consumer Durable Finance (Partnership firm/Sellers) to acquire from them an aggregate of 40,41,700 fully paid up equity shares of Rs 10/- each (being 21% of the voting capital of 1,92,44,500 fully paid up equity shares of Medicorp Technologies India Ltd (MTIL/Target Company) at a price of Rs 23 per share being the "Negotiated Price" payable in cash. The sellers are the promoters of the Target Company.
On May 17, 2002 ICICI Bank Ltd, TCW/ICICI India Pvt Equity Fund, LLC and TCW/ICICI India Pvt Equity AMP Fund LLC (hereinafter collectively referred to as ICICI group) vide their letter have offered to sell their holdings in the Target Company consisting respectively of 19,13,500 equity shares, 27,68,100 equity shares and 11,72,800 equity shares aggregating to 58,54,400 equity shares (constituting 30.42% of the Voting Capital of the Target Company) at a price of Rs 23 per equity share payable in cash (Offer for sale).
Pursuant to the above referred Acquisition Agreement and the offer for sale, the acquirer is making this open offer, under the Regulations to the Shareholders of MTIL to acquire from them upto 38,48,900 fully paid up equity shares of Rs 10/- each (representing 20% of the voting capital of MTIL) at a price of Rs 23 for each fully paid up equity share of MTIL for cash. The offer is not subject to any minimum level of acceptance.
The Specified Date (for the purpose of determining the names of the shareholders to whom letter of offer will be sent) is May 24, 2002.
The Date of Opening of the Offer is July 09, 2002.
The Date on which the offer will close is August 07, 2002.
J P Madaan appointed compliance officer of Vital Communications
Vital Communications Ltd has informed BSE that Mr G L Minocha, Company Secretary of the Company has resigned and Mr J P Madaan would be acting as the Compliance Officer of the Company.
United Breweries acquires Empee Breweries
United Breweries Ltd has informed BSE that their ultimate subsidiary McDowell Alocbev Ltd (MAL) has concluded an agreement arising out of which, MAL have acquired 100% shareholding in Empee Breweries Ltd which has two breweries.
Pentamedia Graphics fixes book closure for the purpose of payment of dividend
Pentamedia Graphics Ltd has fixed July 03, 2002 to July 10, 2002 (both days inclusive) as Book Closure for the purpose of payment of 5% dividend (Re 0.50 per equity), if approved by the shareholders of the Company.
Vital Communication board approves increase in FII limit to 49%
Vital Communications Ltd has informed BSE that in the meeting of the Board of Directors of the Company held today (May 21, 2002) it was decided that the limit of Investment by Foreign Institution Investors (FII) in the Equity share capital of the Company be hiked to 49% of the paid-up share capital of the Company.
State Bank of Travancore Q4 net up by 49.32%, FY-02 net up by 24.04%
State Bank of Travancore has posted a net profit of Rs 475.49 million for quarter ended March 31, 2002 as compared to Rs 318.43 million for corresponding period last fiscal. The total income has increased from Rs 4268.17 million in MQ 2001 to Rs 4589.24 million in MQ 2002
The Company has posted a net profit of Rs 1209.28 million for FY-02 as compared to Rs 974.90 million for FY-01.The total income has increased from Rs 15096.18 million in FY-01 to Rs 16840.81 million in FY-02.
The Board of Directors have declared a dividend at 30% on equity shares subject to RBI approval
Telco files copy of order of financial restructuring with ROC
Tata Engineering & Locomotive Company Ltd has informed BSE that the Bombay High Court has on May 02, 2002 confirmed the financial restructuring and reduction of capital and a copy of the order has been filed with the Registrar of Companies, Maharashtra on May 17, 2002.
The shareholders and the Secured Convertible Debenture holders had approved the financial restructuring at its meeting held on March 27, 2002.
Sudesh Iyer resigns from directorship of Padmalaya Telefilms
Padmalaya Telefilms Ltd has informed BSE that the board of directors of the company at their meeting held on May 20, 2002 accepted the resignation of Sudesh Iyer as director of the company w.e.f. March 16, 2002.
Sri Vishnu Cement requests ICL to continue rendering marketing assistance
Sri Vishnu Cement Ltd has informed BSE that Zuari Cement Ltd, has completed all formalities under SEBI takeover code. Their nominees have at their meeting of the Board of SVCL held on May 18, 2002 been appointed as Directors of SVCL and the nominees of India Cements group have resigned.
India Cements Ltd has been assisting SVCL in marketing the cement manufactured by SVCL. SVCL has made a request to ICL to continue to render marketing assistance for a period of 24 months from June 01, 2002 to which ICL has agreed.
Nocil to close down petrochemicals division situated at Navi Mumbai
The Board of Directors of National Organic Chemical Industries Ltd (Nocil) has at its meeting held on May 21, 2002 decided to close down the petrochemicals division of the company situated at TTC Industrial Area, Thane Belapur Road, Navi Mumbai with immediate effect and apply for permission to declare closure under the Industrial Disputes Act.
As a prelude to this unfortunate eventuality the management had offered a Voluntary Retirement Scheme to all its employees working in the said division in first fortnight of May 2002. The scheme was fairly successful as almost all the management staff have submitted their application under the scheme and about 410 employees in the non-management staff have opted to leave the company under the scheme.
The operations of the Rubber Chemicals Division and the Plastics Division of the company will continue uninterrupted.
TISCO FY-02 results on May 30, 2002
Tata Iron & Steel Company Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 30, 2002 to consider the final accounts and final dividend, if any, for the year ended March 31, 2002.
EIH announces change in management structure
EIH Ltd has informed BSE the following changes in the management structure of the Company:
Mr Rai Bahadur M.S Oberoi, Mr B K Nehru, Mr P Majumdar expired and ceased to be Directors. Mr S K Saha ceased to be Director by resignation. Mr S. M. Dahanukar did not seek reappointment on his retirement of Directors by rotation.
The list of Directors as on date:
Mr P R S Oberoi
Mr S S Mukherji
Field Marshal Sam Manekshaw
Mr Vikram Oberoi
Mr Arjun Oberoi
Mr S K Dasgupta
Orchid's focus on quality continues - secures ISO 9001:2000 certification
Orchid Chemicals & Pharmaceuticals Ltd today (May 21, 2002) announced that it has been re-certified in terms of ISO quality status. The company has now been awarded the ISO 9001: 2000 status. Orchid was earlier on ISO 9002 certification.
A significant point in this new achievement is that this certification also covers the R&D facilities of the company.
"This is another significant step forward in our overall quality journey. The element of quality has always been a guiding principle in all our efforts. Be it in manufacturing, research, & development or in just being a zero discharge company we have always pursued our goals employing the highest standards of quality and this renewed certification is an affirmation to this commitment" said K Raghavendra Rao, Managing Director Orchid Chemicals & Pharmaceuticals Ltd.
The certification has been issued by KPMG and is valid until 2005. The ISO 14001 certificate that Orchid was awarded for its environmental management system by KPMG earlier has also been extended until the year 2005.
Samtel India Board approves hive off of the Company's Deflection Yoke Division to Samtel Color
Samtel India Ltd has informed BSE that the Board of Directors of the Company have accepted the proposal of the Committee of Directors to sell/hive off the Company's Deflection Yoke Division to M/s.Samtel Color Ltd., subject to necessary approvals.
L&T clarifies on news item
With reference to the news item appearing in a leading financial daily titled "L&T to exit glass, packaging business" Larsen & Toubro Ltd has informed BSE that in an ongoing exercise for restructuring business portfolio, the company is considering its option to exit packaging and glass business, but no concrete proposal has been arrived at for consideration.
Tata Chemicals FY-02 results on May 31, 2002
Tata Chemicals Ltd has informed BSE that the Board Meeting is scheduled to be held on May 31, 2002 to consider the audited financial results for the financial year ended March 31, 2002.
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