India Cements Ltd has posted a Net Loss of Rs 910.90 million for the half year ended September 30, 2002 as compared to a Net Loss of Rs 192.50 million for the half year ended September 30, 2001. Total Income (Net of Excise) has decreased from Rs 5809.50 million in the half year ended September 30, 2001 to Rs 4505.60 million in the half year ended September 30, 2002.
The company has submitted a proposal for debt restructuring to the lenders.
Himachal Futuristic's FCCB issue opened at London
Himachal Futuristic Communications Ltd has informed BSE that its issue of Foreign Currency Convertible Bonds upto USD 50 million consisting of 500 Unsecured Foreign Currency Convertible Bonds of USD 1,00,000 each (in two parts - part A and part B of USD 50,000 each) was opened at London on November 29, 2002 at 9.15 PM (IST).
Vel Software Board to consider Sub-division of Equity Shares
Vel Software Ltd has informed BSE that a meeting of Board of Directors is scheduled on December 05, 2002 to consider the following :
- Sub-division of Equity Shares of the Company from the face value of Rs 10 to Re 1.
- Delisting of trading of Company's Equity Shares from Madras Stock Exchange (Talmilnadu), Ahemdabad Stock Exchange (Gujarat), Hyderabad Stock Exchange (Andhra Pradesh).
- To convene the Extraordinary General Meeting of the Members of the Company on January 01, 2003.
Final Hearing of BSL Open Offer on December 12, 2002
Kolmak Chemicals Ltd(KCL) had made an Open Offer for acquisition of minimum 30% of the existing shares of BSL Ltd (the Company). The company had filed a Writ Petition in Hon'ble High Court of Judicature for Rajasthan interalia requesting for a declaration (among other prayers) that the said Open Offer is null and void.
Hon'ble High Court passed an order on November 28, 2002 listing the said matter as the first case for Final Hearing on December 12, 2002. The Court further directed that till then if any action is taken by the respondents, then that will be subject to the results of the said Petition.
Praj Industries Board to consider Merger of Praj Engineering with the Company
Praj Industries Ltd (the Company) has informed BSE that a meeting of the Board of Directors is scheduled on December 02, 2002 to consider the proposal of Merger of Praj Engineering Ltd with the Company.
Zee Telefilms Board ratifies Distribution Agreement entered between its subsidiary & TV 18
Zee Telefilms Ltd has informed BSE that the Board of Directors at its meeting held today (on November 30, 2002) approved and ratified the Distribution Agreement entered into between Zee Turner Ltd (a subsidiary of the Company) and Television Eighteen India Ltd for distribution of CNBC channel in India.
The Board at the said has also approved and ratified the Distribution Agreement entered into between Zee Turner Ltd (a subsidiary of the Company) and Zone Broadcasting (Maximum Realty) Ltd for distribution of Realty TV channel.
Nicco Corp Directors resign
Nicco Corporation Ltd has informed BSE that Mr Satish Puri and Mr U K Basu have resigned from the Board of Directors of the company with effect from November 15, 2002 on their retirement from Wholetime service with the Group.
R P Agarwal retires from the Board of FCL Tech & Products
FCL Technologies & Products Ltd has informed BSE that Mr R P Agarwal has resigned from the Board of Directors with effect from October 31, 2002.
T S R K Lohit resigns from the Board of India Gypsum
India Gypsum Ltd has informed BSE that Mr T S R K Lohit, whole-time Director of the Company designated as Finance Director resigned from the Board of Directors with effect from November 28, 2002. The Board has accepted his resignation at its Board Meeting held on November 28, 2002.
ACC wins PHDCCI Good Corporate Citizen Award for the year 2002
Associated Cement Companies Ltd has announced that it has been selected by PHD Chamber of Commerce and Industry, New Delhi as the winner of its Good Corporate Citizen Award for the year 2002. The nomination recognizes outstanding contributions by a member of the corporate sector to social causes, including rural and community development activities, healthcare, family welfare, education, literacy programmes, vocational training, employment generation and Environment awareness and protection activities. This award, which carries a trophy and a citation, was presented to ACC's Managing Director by Shri K C Pant, Deputy Chairman, Planning Commission at PHDCCI's 97th annual session.
ACC is among the first companies to include commitment to environmental protection as one of its corporate objectives, long before pollution control norms and regulatory act came into existence. The Company inducted the use of sophisticated high efficiency pollution control equipment for cement kilns, raw mills, coal mills, power plants and coolers as far back as 1966.
The company's most recent success story in the area of social volunteering has been to organize timely and unique assistance in the aftermath of last years earthquake in Gujarat by providing free training on earthquake- proof construction practices to over 1500 unemployed rural youth in remote and interior parts of the quake-affected districts. ACC was quick to earmark expenditure up to Rs 10 million on such rehabilitation work.
UBI reduces its PLR
Union Bank of India has informed BSE that it has reduced its Prime Lending Rate (PLR) by 0.25% with effect from December 01, 2002. The revised PLR of the Bank will be at 11.25% However, the Prime Term Lending Rate (PTLR) of the Bank will stand at 12 %.
Sai Radhe Properties makes Open Offer to Shareholders of Raja Bahadur Motilal Poona Mills
Puneet Advisory Services Pvt Ltd has informed BSE that Sai Radhe Properties Pvt Ltd (Acquirer) is making an open offer to acquire upto 1,27,500 fully paid up Equity Shares of Rs 100 each representing 51 % of the total Subscribed and fully Paid up Equity Capital of Raja Bahadur Motilal Poona Mills Ltd (Target Company, "RBM") at a price of Rs 105 per fully paid up Equity Share payable in cash. The offer is not subject to any minimum level of acceptance.
The Board of Directors of the Acquirer has thought fit to have controlling stake (51% of the voting rights) in the Target Company, which is more than 15% being the limit specified under Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 to trigger takeover code.
The Specified Date is November 30, 2002.
The Date of Opening of the Offer is January 06, 2003.
The Date of Closing of the Offer is February 04, 2003.
Genesys Securities Board proposes Right Issue
Genesys Securities Ltd has informed BSE that the Board of Directors at its meeting held on November 25, 2002 has amongst other matters decided to propose Right Issue and the necessary resolution for the same will be included as special business in the ensuing AGM of the company.
Som Distilleries & Breweries to seek members' approval for Preferential Issue
Som Distilleries & Breweries Ltd has informed BSE that the AGM of the Company is scheduled on December 27, 2002 to consider preferential issue of shares and increase in share capital.
