Essel Propack Ltd has reported a net profit of Rs 78 million for the quarter ended September 30, 2002 as compared to a net profit of Rs 100 million for the quarter ended September 30, 2001. Total income has decreased from Rs 618 million in SQ-2001 to Rs 583 million in SQ-2002.
"Given our aggressive plans for growth and the subsequent increase in costs involved, all current processes are being challenged and new ways of doing things at the lowest possible cost has become the anthem of the day" said Mr Chandrashekhar CFO Essel Propack. " The company continues to look for external opportunities of growth through acquisitions" he added.
Cyrus Bagwadia commented, " Our presence in US is opening new doors for us. Today, we are recognized as a global player in the world market. We expect significant developments in terms of new opportunities in the second half of 2003".
Ramco Systems sees cautious optimism in the second quarter
Ramco Systems Ltd experienced improved growth across business lines. The enterprise products division closed some prestigious orders in ASEAN and US especially for its Process Manufacturing and human Resources vertical offerings. The CRM Services division registered a few significant break-through orders. The Enterprise Networking & Security business also secured major orders.
Commenting on the performance Mr P R Venketrama Raja VC, Managing Director & CEO of Ramco Systems said, " The current quarter witnesses an overall 27% growth over the previous quarter. Our continued emphasis on high margin accounts is expected to yield rich dividend in the near future".
Punjab Tractors announces Q2 results
Punjab Tractors Ltd has reported a net profit of Rs 108 million for the quarter ended September 30, 2002 as compared to a net profit of Rs 310 million for the quarter ended September 30, 2001.Total income has decreased from Rs 2422 million in SQ-2001 to Rs 1370 million in SQ-2002.
Gillette announces Q3 results
Gillette India Ltd has reported a net profit of Rs 81 million for the quarter ended September 30, 2002 as compared to a net loss of Rs 35.50 million for the quarter ended September 30, 2001. Sales (net of excise) have decreased from Rs 1224.30 million in SQ-2001 to Rs 1067.70 million in SQ-2002. Other income has decreased from Rs 71.40 million in SQ-2001 to Rs 9 million in SQ-2002.
The results for the quarter are not comparable due to discontinuation of manufacturing operations at duracell manesar plant at the beginning of the year.
Wipro Board approves allotment of shares under ESOP
Wipro Ltd has informed BSE that the Board of Directors have vide circular resolution effective October 25, 2002 resolved to issue and allot 8562 equity shares of Rs 2 each pursuant to exercise of stock options by eligible employees.
Chennai Petroleum Corporation announces Q2 results
Chennai Petroleum Corporation Ltd has reported a net profit of Rs 201.10 million for the quarter ended September 30, 2002 as compared to a net loss of Rs 609.40 million for the quarter ended September 30, 2001. Sales (net of excise) have increased from Rs 13776.30 million in SQ-2001 to Rs 16990.20 million in SQ-2002. Other income has increased from Rs 54.40 million in SQ-2001 to Rs 87.30 million in SQ-2002.
Britannia Ind announces Q2 results
Britannia Industries Ltd has reported a net profit of Rs 262 million for the quarter ended September 30, 2002 where as the same was at Rs 253 million for the quarter ended September 30, 2001. Net Sales was at Rs 3796 million in SQ-2001 whereas the same is at Rs 3607 million in SQ-2002. Other income was at Rs 41 million in SQ-2001 whereas the same is at Rs 71 million in SQ-2002.
Net sales and other financials for the quarter are not strictly comparable as previous years figures include numbers for diary business which has been transferred effective March 27, 2002 to Britannia New Zealand Foods Pvt. Ltd., a Joint Venture with Fonterra Co-operative Group, New Zealand.
Surat Electricity announces Q2 results
Surat Electricity Company Ltd has reported a net profit of Rs 53.72 million for the quarter ended September 30, 2002 as compared to Rs 47.16 million for the quarter ended September 30, 2001. Total Income has increased from Rs 1901.14 million in SQ-2001 to Rs 2113.04 million in SQ-2002.
Escorts Board Meeting for Q2 results adjourned
Escorts Ltd had informed BSE that the Board of Directors of the Company would in their meeting to be held on October 28, 2002, take on record the unaudited financial results (provisional) for the second quarter/half year ended September 30, 2002.
The Company has now informed that for want of quorum the Board Meeting could not be held today (October 28, 2002). The said meeting has been adjourned.
MCS members approve giving corporate guarantees/making Investments not exceeding Rs 260 million
MCS Ltd has informed BSE that the special resolution under section 372A of the Companies Act, 1956 has been passed through Postal Ballot with requisite majority for giving Corporate Guarantees/making investments not exceeding Rs 260 million.
German Remedies Board approves acquisition of five trade marks
German Remedies Ltd has informed BSE that at its meeting held on October 25, 2002 the Board of Directors have decided to acquire on Perpetual Assignment basis five trade marks, namely Deriphyllin, Paractol, Ildamen, Xipamid and Beta-Xipamid from Zydus International Pvt Ltd, Ireland, (ZIPL) which is a Wholly Owned Subsidiary of Cadila Healthcare Ltd, who had acquired these trade marks from Asta Medica AG, Germany, last year, and has agreed to transfer the same rights to the Company at a cost incurred by it in acquiring them.
With this, the Company will have complete and unfettered ownership of the said five trademarks (not mere license) in the assigned territories. Apart from this, the Company will have the following benefits as compared to the existing arrangements:
Right to market the products using these trade marks in several countries besides India, including neighbouring countries like Sri Lanka, Nepal, Bhutan, besides many South -East Asian, African, American and EIS countries.
Right to introduce brand and line extensions products.
Right to source active ingredients at the best commercial rates.
Aarti Drugs Board approves buyback
Aarti Drugs Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 28, 2002 has considered the proposal for buyback of shares and announced buy back upto maximum of 13,00,950 equity shares of Rs 10/- each fully paid of the Company being 10% of the total paid up capital of the Company at a price of Rs 39/- per share by tender offer method.
The aforesaid buyback offer price of Rs 39/- per share work out to 35% premium to the price of Rs 28.89 being average of weekly high and low closing prices quoted on the Stock Exchange, Mumbai during last 6 months.
Nirma announces Q2 results
Nirma Ltd has reported a net profit of Rs 514.90 million for the quarter ended September 30, 2002 as compared to Rs 344.30 million for the quarter ended September 30, 2001. Net Sales has increased from Rs 4542.70 million in SQ-2001 to Rs 4571.90 million in SQ-2002. Other income has increased from Rs 37.30 million in SQ-2001 to Rs 53.10 million in SQ-2002.
The Company has implemented debottlenecking of the Soda Ash Project at Village Kalatalav, Dist Bhavnagar in the State of Gujarat for achieving increase in the installed capacity of Soda Ash from 420000 TPA to 650000 TPA in time at a total cost of Rs 957.30 million.
Satyam Computer Services and PeopleSoft India form Strategic Alliance
Satyam Computer Services Ltd and PeopleSoft India a leading provider of application software announced a strategic alliance today (October 28, 2002). Under this alliance, satyam will implement Peoplesoft's range of enterprise solutions, while providing strategic consulting to its growing client base. The alliance will combine Satyam's,technology expertise and business knowledge, with PeopleSoft's leading applications, built on Peoplesoft's Pure Internal Architecture™, Satyam will deliver a complete range of services from consulting to implementation of PeopleSoft solutions, process reengineering, maintenance, support and complete outsourcing of the PeopleSoft environment. Satyam will also build a 'Center of Excellence' to further develop its expertise in PeopleSoft's range of enterprise solutions.
Satyam Managing Director, B Rama Raju said of the alliance " Corporate across India are looking for enterprise solutions that will deliver increased productivity, lower operating costs, and increased satisfaction from their customers, suppliers, employees and partners. Through Peoplesoft's applications, organizations across India can move their business processes online, making these processes immediate and real time and remove layers of intermediaries. The PeopleSoft value proposition is compelling. We look forward to working with our customers to implement PeopleSoft's solutions and enable them to realize business benefits and return on investment quickly."
Infosys Tech to set up disaster recovery centre in Mauritius capacity for 1500 people; investment of US$ 25 million over three years
Infosys Technologies Ltd on Monday announced that it will set up its first disaster recovery centre in the island of Mauritius.
The centre, complete with infrastructure, network connections, telecommunication facilities as well as back up client data will be on stand to take over client projects from across the globe, in case of any emergency. Serving as an alternate location in case of a disaster in other Infosys development centres, the disaster recovery centre will have a capacity to accommodate 1500 people.
The proposed centre will be operational by January 2003 on a rented site and move to the company own 25 acre premises on about three years, with an investment of US$ 25 million.
Sundram Fasteners announces Q2 results
Sundram Fasteners Ltd has reported a net profit of Rs 108.20 million for the quarter ended September 30, 2002 as compared to Rs 73.70 million for the quarter ended September 30, 2001. Sales (net of excise) have increased from Rs 907.10 million in SQ-2001 to Rs 1125.90 million in SQ-2002. Other income has decreased from Rs 8.20 million in SQ-2001 to Rs 8 million in SQ-2002.
OBC announces Q2 results
Oriental Bank of Commerce has posted a net profit of Rs 1130.10 million for the quarter ended September 30, 2002 as compared to Rs 856.50 million in the corresponding period last fiscal. Total Income has increased from Rs 8437.40 million in SQ-01 to Rs 9686 million in the quarter ended September 30, 2002.
Ranbaxy in-licenses a New Biological Entity for Treatment of Brain Cancer in India
Ranbaxy Laboratories Ltd on Monday announced an exclusive license agreement with K S Biomedix, a UK based bio-pharmaceutical company for marketing TransMID , a novel biopharmaceutical product for treatment of brain cancer. This agreement accords Ranbaxy exclusive marketing rights for TransMID in India and an option to extend this arrangement to China and other South East Asian markets.
TransMID is about to enter Phase 111 trials and is in development for the treatment of high grade glioma a terminal brain cancer for which there in no known cure.
Trent announces Q2 results
Trent Ltd has reported a net profit of Rs 25.88 million for the quarter ended September 30, 2002 as compared to a net profit of Rs 26.54 million for the quarter ended September 30, 2001. Net Sales has increased from Rs 196.62 million in SQ-2001 to Rs 266.90 million in SQ-2002. Other income has decreased from Rs 26.30 million in SQ-2001 to Rs 11.37 million in SQ-2002.
Madras Cements announces Q2 results
Madras Cements Ltd has reported a net profit of Rs 10.90 million for the quarter ended September 30, 2002 as compared to a net profit of Rs 14.90 million for the quarter ended September 30, 2001. Net Sales has decreased from Rs 1854.60 million in SQ-2001 to Rs 1581.70 million in SQ-2002. Other income has increased from Rs 15.40 million in SQ-2001 to Rs 20.60 million in SQ-2002.
Century Textiles announces Q2 results
Century Textiles Ltd has reported a net profit of Rs 99.80 million for the quarter ended September 30, 2002 as compared to a net loss of Rs 32.80 million for the quarter ended September 30, 2001. Net Sales has increased from Rs 5157.60 million in SQ-2001 to Rs 5170.70 million in SQ-2002. Other income has increased from Rs 119.70 million in SQ-2001 to Rs 159.30 million in SQ-2002.
The Profitability of the Company during the quarter July/September 2002 is better as compared to the corresponding period of last year mainly because of improvement in Textiles segment including Rayon. The production in Pulp and Paper division was adversely due to breakdown in turbine for about 44 days during the quarter
Sun Pharma announces Q2 results
Sun Pharmaceutical Industries Ltd has reported a net profit of Rs 533.10 million for the quarter ended September 30, 2002 as compared to Rs 481.90 million for the quarter ended September 30, 2001. Total Sales has increased from Rs 1961.50 million in SQ-2001 to Rs 2166.40 million in SQ-2002.Other income has decreased from Rs 22.60 million in SQ-2001 to Rs 11.80 million in SQ-2002.
The Board has approved the split of the company's equity shares of Rs 10 each into 2 equity shares of Rs 5 each subject to the approval of the Equity shareholders at the ensuing Extra General Meeting of the Company.
The Board has decided to buyback, subject to the approval of the equity shareholders by way of postal ballot and other such approvals if any required, maximum of 2 million equity shares of Rs 10 each or maximum of 4 million equity shares of Rs 5 each under the open market route for the maximum outlay of Rs 1200 million for a maximum price of Rs 750 per equity share of Rs 10 each or for a maximum price of Rs 375 per equity share of Rs 5 each.
The Extra Ordinary General Meeting of the company will be held on December 20, 2002 interalia for approval of split of Companys equity shares and declaration of postal results for buyback.
Bank of India announces Q2 results
Bank of India has reported a net profit of Rs 1944.30 million for the quarter ended September 30, 2002 as compared to Rs 1351.60 million for the quarter ended September 30, 2001. Total Income has increased from Rs 17133.20 million in SQ-2001 to Rs 18690.10 million in SQ-2002.
Polaris Software Lab announces Q2 results
Polaris Software Lab Ltd has reported a net profit of Rs 84.72 million for the quarter ended September 30, 2002 as compared to Rs 154.16 million for the quarter ended September 30, 2001. Income from software services and products has decreased from Rs 697.24 million in SQ-2001 to Rs 682.08 million in SQ-2002. Other income has decreased from Rs 26.88 million in SQ-2001 to Rs 11.60 million in SQ-2002.
Bank of Baroda announces Q2 results
Bank of Baroda has reported a net profit of Rs 1372.20 million for the quarter ended September 30, 2002 as compared to Rs 984.40 million for the quarter ended September 30, 2001. Total Income has increased from Rs 17270.40 million in SQ-2001 to Rs 19079.70 million in SQ-2002.
BASF announces Q2 results
BASF India Ltd has reported a net profit of Rs 84.90 million for the quarter ended September 30, 2002 as compared to Rs 89.40 million for the quarter ended September 30, 2001. Total Income (net of excise) has increased from Rs 1329.60 million in SQ-2001 to Rs 1359.20 million in SQ-2002.
Sangam Lead Consortium emerges highest bidder in MSRDC tender
Sangam India Ltd has informed BSE that Sangam Lead Consortium has emerged the highest bidder in MSRDC tender for Toll collection in Mumbai for all 5 toll nakas.
Infosys allots shares to Bankers Trust Co, New York
Infosys Technologies Ltd has informed BSE that the Board of Directors of the Company met on October 24, 2002 and transacted the following item of business:
Allotted 8,897 equity shares of par value of Rs 5/- to Bankers Trust Company, New York, the Depository to the Company's ADS issue as underlying shares in respect of 17,794 ADSs to be issued and allocated to the purchasers, pursuant to the exercise of 17,794 Options granted to employees under the Company's 1998 Option Plan on receipts of payment of the subscription monies in respect of the said shares aggregating $553,497.80.
BSE revises special margin on 46 scrips
BSE has informed the members of the exchange that the following scrips will attract Special Margins as indicated hereunder with effect from today (October 28, 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. Members are hereby informed that 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)(%)
532311 Amex Informatio B2 25
531823 Arvind Remedy B1 25
532113 Brijlaxmi Le B2 25
506390 Colour Chem B1 25
508814 Cosmo Films B2 25
532099 Database Fin B2 25
532365 Dynacon System B2 25
505200 Eicher Motor B1 25
500128 Electrosteel Ca B1 25
506156 Etc Networks B2 25
511744 Fcgl Industries B2 25
532326 Fortune Info B2 25
531399 G G Automative B2 50
500655 Garware Poly B2 25
506109 Genesys Inter B1 25
503699 Geodesic Inf B2 25
507732 Godavari Fert B2 25
532129 Hexaware B1 25
524652 Ind Swift B1 25
500207 Indo Rama Syn B1 25
532010 Indotech Capita B2 25
524494 Ipca Laborator B1 25
531816 It Microsystem B2 25
500107 Jindal Iron B1 25
532256 Jindal Strips B1 25
532283 Kashyap Radiant B2 25
517471 Ktl Infosys B2 25
532275 Landmarc Leisur B1 25
500265 Maharashta Seam B1 50
524794 Matrix Labs B2 25
512267 Media Matrix B2 25 25
524101 Nalco Chemical B1 25
532091 Orbit Multi B2 25 25
531512 Orient Trade B2 25
532114 Pan Packaging B2 25
531492 Penta Commun B1 25
522205 Praj Industries B2 25
531611 Prraneta Inds B2 50
513583 S B & T B1 25
523083 Somplet B2 25
532468 Srf Polymers B2 25
512531 State Trading B1 25
500463 Tata Telecom B1 25
531554 Top Telemedia B2 25
531659 Transnat Sec B2 25
524802 Veronica Labs B2 25
BSES announces Q2 results
BSES Ltd has reported a net profit of Rs 379.70 million for the quarter ended September 30, 2002 as compared to Rs 731.50 million for the quarter ended September 30, 2001. Total Income has increased from Rs 7358.50 million in SQ-2001 to Rs 7443.50 million in SQ-2002.
The sale of electrical energy for the quarter ended September 30, 2002 has gone upto 1588 million units as against 1526 million units recorded during the corresponding period of last year.
Zee Telefilms members approve amalgamation of its subsidiaries
Zee Telefilms Ltd has informed BSE that the members of the Company at the Court convened General Meeting held on October 25, 2002 have approved by special majority the Amalgamation of the following Company's subsidiaries with the Company:
1. Programme Asia Trading Company Ltd
2. Kaveri Entertainment Ltd
3. Dakshin Media Ltd
4. El Zee Television Ltd
Further the members have also approved the following:
1. Proposed dividend @ 55% per equity share.
2. Appointment/Reappointment of Directors.
3. Reappointment of Auditors.
4. Payment of Remuneration to Whole Time Directors
