Padam Cotton Yarns Ltd has informed BSE that Shri Padam Sain Gupta, Managing Director and Mrs Kusum Kumari, a Director of the company have resigned with effect from December 30, 2002.
Telephoto Entertainments Board to consider modifications in the swap ratio
Telephoto Entertainments Ltd has informed BSE that a meeting of the Board of Directors is scheduled on January 03, 2003 to consider and approve, inter alia, modifications in the swap ratio, earlier approved by the Board of Directors in their meeting held on November 18, 2002.
Gail India fixes Record Date for interim dividend
Gail India Ltd has informed BSE that it has fixed February 01, 2003 as the Record Date for the purpose of Interim Dividend, if declared for the year 2002-2003.
Tata Power Co Q3 results on January 23, 2003
Tata Power Company Ltd has informed BSE that a meeting of the Board of Directors is scheduled on January 23, 2003 to consider and take on record the unaudited financial results (provisional) for the quarter ended December 31, 2002 (Q3).
Sunitee Chem members approve stock split
Sunitee Chemicals Ltd has informed BSE that the Shareholders of the Company at the Extraordinary General Meeting held on December 16, 2002 have approved that the denomination of Equity Shares of the company is changed from Rs 10 to Re 1 each per share.
Century Enka Q3 results on Jan 29, 2003
A meeting of the board of directors of Century Enka Ltd will be scheduled on January 29, 2003 to take on record the unaudited financial results for the quarter ended December 31, 2002.
SEBI permits Abbott India to buyback equity shares
Abbott India Ltd had announced buyback of 9,19,000 fully paid up equity shares of the face value of Rs 10 each from the existing owners of shares of the company through a tender offer at a price of Rs 350 per share.
Thereafter pending certain regulatory/policy clarifications from SEBI the timetable for the buyback stood annulled and that the revised time-table would be published in the newspaper prior to the opening of the buyback, after receipt of the required clarifications.
SEBI has on December 27, 2002 permitted the Company to proceed with the buyback. The revised time-table for the buyback will be published shortly.
ACC announces December 02 despatches
Associated Cement Companies Ltd has informed BSE that Company's production and despatch figures in December 2002 were as follows: -
December 2002
Cement Production -- 1.103 million tonnes
Cement Despatches -- 1.089 million tonnes
December 2001
Cement Production -- 9.380 million tonnes
Cement Despatches -- 9.840 million tonnes
Cumulative production and despatches from April 2002 to December 2002 are
April-December 2002
Cement Production -- 10.217 million tonnes
Cement Despatches -- 10.171 million tonnes
April-December 2001
Cement Production -- 8.859 million tonnes
Cement Despatches -- 8.882 million tonnes
Shareholders of Aurobindo Pharma approve scheme of amalgamation
Aurobindo Pharma Ltd has informed BSE that the company has obtained necessary approval by way of special resolution, from shareholders of the company in their General Meeting held on Thursday as per the orders of Hon'ble High Court of A P at Hyderabad for the scheme of Amalgamation of group companies namely Ranit Pharma Ltd and Calac Private Ltd with the company wef April 01, 2002 subject to necessary approvals.
HDFC Bank allots equity shares under ESOP
HDFC Bank Ltd has allotted 31,600 equity shares to 24 employees of the bank. The allotment was approved at the meeting of the Shares Committee of the Bank held on Thursday. The allotment of shares is pursuant to the Employees Stock Option Scheme duly approved by the shareholders of the Bank at their meeting held on January 01, 2000.
Prudential Sugar Corporation Board approves redemption of Preference Shares
Prudential Sugar Corporation has informed to BSE that the Board of Directors at its meeting held on December 16, 2002 approved the following:
1. Proposal for redemption of 16% Partly Convertible Redeemable Cumulative Preference Shares due at the end of 8th year.
2. Advancing the date of redemption of 16% Partly Convertible Redeemable Cumulative Preference Shares due to be redeemed at the end of 9th year and 10th year with the shares to be redeemed alongwith 16% Partly Convertible Redeemable Cumulative Preference Shares of 8th year.
3. Waiver of Cumulative Dividend payable on 16% Partly Convertible Redeemable Cumulative Preference Shares.
4. Conversion of 16% Partly Convertible Redeemable Cumulative Preference Shares to equity shares.
5. Fix the date of class meeting of Preference Shareholders on January 10, 2003.
6. Fix the Record Date as February 7, 2003 for convening Extra-ordinary General Meeting on February 8, 2003 of shareholders of Company for the purpose of issue of Equity Shares to the holders of 16% Partly Convertible Redeemable Cumulative Preference Shares and amendment of Memorandum of Association in view of the conversion of the preference Capital to Equity Capital.
B M Khaitan ceases to be a Director of Orient Paper & Industries
Orient Paper & Industries Ltd has informed BSE that Shri B M Khaitan ceases to be a Director of the Company with effect from December 27, 2002.
Killick Nixon members authorise the Board to give Guarantees
Killick Nixon has informed that through the postal ballot the shareholders have authorised the Board of Directors of the company to give guarantees/provide securities from time to time not exceeding at any one time Rs 5000 million to the lenders of funds to the company's subsidiaries, associate companies and bodies corporate in which the company has business interest.
The company has further informed that the members have also ratified the guarantees / securities given by the company as approved by the Board of Directors in its meeting held on March 27, 2002 to the lenders of funds to Snowcem India Ltd for an amount of Rs 50 million for securing the repayment of borrowings by Snowcem India Ltd.
The results of the Postal Ballot were declared on December 26, 2002 at the Annual General Meeting of the Company.
Mascot announces SEI-CMM Level 5 achievement
Mascot Systems Ltd, on Thursday announced that it has been assessed at level 5 of the Capability Maturity Model (CMM) of the Software Engineering Institute (SEI) at Carneige Mellon University, Pittsburgh, PA. The level 5 assessment has been secured by the Company's India development centres at Chennai & Bangalore. The software CMM is the de facto industry standard for assessing and improving the processes adopted by a software development company. A level 5 assessment essentially represents the top 2% of the software development organizations in the world.
The lead assessor of KPMG Consulting, which carried out the assessment rated Mascots practices as "among the best in the industry".
Trent Q3 results on January 20, 2003
Trent Ltd has informed BSE that a meeting of the Board of Directors is scheduled on January 20, 2003 to take on record the Unaudited Financial Results for the quarter ended December 31, 2002 (Q3).
Sun Pharma members approve stock split
Sun Pharmaceutical Industries Ltd has informed BSE that the Shareholders of the Company at the Extraordinary General Meeting held on December 20, 2002 have approved that the Authorised, Subscribed and Paid-up Equity Share Capital of the company having a nominal face value of and Paid-up value of Rs 10 per share be sub divided into Equity Shares having a nominal face value and paid up value of Rs 5 pert share.
Anil Cherian appointed as Company Secretary of Su-raj Diamonds
Su-raj Diamonds & Jewellery Ltd has informed BSE that Ms Gandhi A Upadye has resigned as Company Secretary of the company with effect from December 28, 2002 & Mr Anil Cherian has been appointed as Company Secretary of the Company wef December 28, 2002.
Industrial Investment Trust to sell its property at Andheri-Mumbai
Industrial Investment Trust Ltd has informed to BSE that it has entered into a MOU to sell its rights and title in a property known as IIT House, at Village Mulgaon, Andheri-Mumbai with UY Industries Pvt Ltd.
Sri Adhikari Brothers - conversion of warrants into Equity Shares
Sri Adhikari Brothers Television Network Ltd has informed BSE that in the Board Meeting held on December 26, 2002, 1,00,000 warrants were converted into even number of Equity Shares @ Rs 163 per share (50,000 each to Mr Markand Adhikari and Mr Gautam Adhikari)
Indian Oil Corp fixes record date for proposed interim dividend
Indian Oil Corporation Ltd proposes to consider declaration of interim divided in its Board meeting scheduled for January 29, 2003. The company has fixed February 05, 2003 as the record date for the purpose of ascertaining the eligibility of shareholders for payment of proposed interim dividend, if declared at the ensuing Board Meeting.
Eonour Tech to raise GDRs and list in international bourses
Eonour Technologies Ltd has informed BSE that it has laid its plans for a GDR issue in the coming months. With this, Eonour will be looking at raising around USD 27 million which will go into funding its domestic / overseas expansion and acquisition plans. The company is in advanced discussion with leading merchant bankers and investors in this connection.
The company is also planning a preferential allotment to the promoters for cash. The company has also received LOIs from outside investors for a preferential allotment for cash. The current promoter holding is around 41% and the allotment will be as per SEBI guidelines.
The Board which met on Thursday has fixed January 30, 2003 as the Extraordinary General Meeting date to pass the necessary resolutions for the GDR issue, Preferential Allotment and the ESOP.
Silverline Tech announces Q1 results
Silverline Technologies Ltd has posted a net loss of Rs 64.73 million for the quarter ended September 30, 2002 as compared to a net profit Rs 138.84 million in the quarter ended September 30, 2001. Total Income has decreased from Rs 501.26 million in SQ-01 to Rs 62.39 million in the quarter ended September 30, 2002.
Federal Bank Q3 results on January 17, 2003
A meeting of the Board of Directors of Federal Bank Ltd will be held on January 17, 2003 to consider and take on record the unaudited financial results for the period ended December 31, 2002.
Sanwaria Agro Oils Board to consider possibility of Preferential Issue
Sanwaria Agro Oils Ltd has informed BSE that a meeting of the Board of Directors is scheduled on January 10, 2003 to consider the possibility of the Preferential Issue of the 1 million Equity Shares at the current NAV to the promoters of the company to strengthen the short and long term funds requirement of the company.
Gujarat Ambuja Exports AGM adjourned
Gujarat Ambuja Exports Ltd has informed BSE the 11th Annual General Meeting of the members of the company was held on December 31, 2002 and all businesses as per notice of the Annual General Meeting except the declaration of Dividend was transacted.
The company has further informed that due to pendancy of Petition in the matter of Scheme of Arrangement before the Hon'ble High Court of Gujarat, it has been decided by the majority of members present at the said AGM that the meeting be adjourned on February 25, 2003. It has been further decided that the members whose names appear on the Register of Members of the Company and on the record of depositories on December 31, 2002 (i.e. Book Closure Date) will be considered eligible to receive the dividend, if considered and declared at the Adjourned Annual General Meeting.
Rolta completes prestigious projects worth over Rs 200 million in Plant Design Automation
Rolta India Ltd has announced today (January 2, 2003) that it has successfully completed a series of projects for prestigious and well-known international companies in the area of Plant Design Automation (PDA).
A variety of solutions and services were provided to Process, Power and Offshore companies including Owner/Operators and EPC organisations. These include Engineers India, IOCL, BHEL-Trichy, BHEl-Hyderabad, ONGC, Kaeverner Process India, Saudi Aramco, Intergraph Corporation - USA, Intergraph Saudi Arabia, Intergraph Canada, Burns & McDonnell, PBPower, Akar Maritime, Kiewit Contractors (AMKC), AMEC, Bentley Middle East and Technip-Abu Dhabi etc. During 2002, orders exceeding Rs 200 million were executed with several large and prestigious orders are under execution and active consideration with overseas & domestic prospects.
Upen Shah designated as Company Secretary & Compliance Officer of Cadila Healthcare
Cadila Healthcare Ltd has informed BSE that on attaining the superannuation age Mr D D Sanghavi ceased to be Company Secretary & Compliance Officer wef December 31, 2002 after office hours.
Mr Upen Shah has been designated Company Secretary & Compliance Officer of the Company wef January 01, 2003.
Gujarat Borosil to adopt BIFR order
A meeting of the Board of Directors of Gujarat Borosil Ltd will be held on January 03, 2003 to consider the following matters:
1. To consider and adopt BIFR order
2. To forfeit 94500 equity shares on which allotment money has not been paid
3. To appoint Mr Ashok Jain as Additional & Wholetime Director of the company.
SKF Bearings India clarifies News Item
With reference to a News Item published in a leading financial daily regarding delisting of shares SKF Bearings India Ltd from stock exchanges, the company has clarified that there is nothing to substantiate the rumours of "the parent is planning to de-list the shares of its Indian arm from the bourses after an open offer" which have appeared in the said leading financial daily.
BPCL Board to consider Record Date for the purpose of Interim Dividend
Bharat Petroleum Corporation Ltd has informed BSE that the Board of Directors may consider at the next Board meeting to be held in the second fortnight of January 2003, proposal for payment of Interim Dividend for the financial year 2002-03. The board has, however, fixed February 04, 2003 as the Record Date to determine the names of the Shareholders/ Beneficial Owners who would be entitled to the proposed Interim Dividend, if declared by the Board.
Sun Pharma announces Buyback Offer of Equity Shares from Open Market through Stock Exchanges
J M Morgan Stanley Pvt Ltd has informed BSE that Sun Pharmaceutical Industries Ltd (Sun Pharma) has announced the Buyback of fully paid-up equity shares of the Company of face value of Rs 10 each and / or Rs 5 each (being face value and paid up value subsequent to the splitting of the equity shares of Rs 10 into 2 equity shares) not exceeding 2,000,000 equity shares of Rs 10 each and/or 4,000,000 equity shares of Rs 5 each i.e. not exceeding equity shares of face value of Rs 20,000,000 being less than 25% of the paid-up equity share capital of the company for an aggregate amount not exceeding Rs 1200,000,000 upto a maximum price of Rs 750 per equity share of Rs 10 each or upto a maximum price of Rs 375 per equity share of Rs 5 each from the existing shareholders and beneficial owners of the shares of the company from open market through stock exchanges.
The Buyback will be effected from the Open Market through The Stock Exchange, Mumbai ("BSE") and/or the National Stock Exchange on India Limited ("NSE") (together the "Stock Exchanges") using their electronic trading facilities. The Company shall not Buyback its shares from any person(s) through negotiated deal(s) whether on or off the Stock Exchanges or through spot transactions or through any private arrangement in the implementation of the Buyback.
If all shares were bought back at the maximum price, the maximum possible shares which can be bought back would be 1,600,000 shares of Rs 10 each or 3,200,000 shares of Rs 5 each aggregating to a face-value of Rs 16,000,000 (Rupees Sixteen Million only). The number of shares to be bought back would depend upon the average price paid for the shares bought back and the amount deployed in the Buyback.
The Buyback proposal is being mooted in keeping with the Company's desire to enhance overall shareholder value. The Buyback is expected to enhance the earnings per share of the Company in future and create long-term shareholder value. The cash flow from operations of the Company is healthy with adequate fund being generated to full fund business investments. This Buyback provided an exit option to the shareholders to sell their equity shares and may ensure that the growth of the Company is not impaired in any way.
The Date of Opening of Buyback is January 07, 2003
The Date of closing of Buyback is December 19, 2003 (12 months from the date of passing of special resolution) or when the company has completed Buyback to the extent of 25% of the paid-up equity capital and free reserves, however not exceeding 25% of the paid-up equity share capital under the Offer or such earlier date as may be determined by the Board any time even if the maximum limit of Buyback of shares has not been reached (by giving appropriate notice for such earlier date, if any).
A T E Trading & Mfg Co files application with High Court for sanction of merger
A T E Trading & Manufacturing Company Ltd has informed BSE that it has submitted necessary application to the High court of Judicature at Mumbai, seeking their sanction to merger of the company with Motex Engineering Company Pvt Ltd.aid matter have been completed and the company has received agreed consideration of USD 1.8 million.
Polaris Software Lab members approve Scheme of Amalgamation
Polaris Software Lab Ltd has informed BSE that at the Court convened Extraordinary General Meeting on December 30, 2002 at 2.00 PM, the scheme of Amalgamation for merger of M/s OrbiTech Solutions Ltd with the Company was approved by the shareholders.
In the special Extraordinary General Meeting convened on December 30, 2002 at 4.00 PM shareholders approved the following resolutions:
1. Ordinary Resolution for the increase of Authorised Capital from Rs 400 million to Rs 650 million.
2. Ordinary Resolution for the appointment of Mr Govind Singhal as a whole time director for two years with effect from October 18, 2002.
NIIT fixes book closure for dividend
NIIT Ltd has informed BSE that it has fixed January 28, 2003 to January 31, 2003 (both days inclusive) as book closure for the purpose of determining entitlement for Dividend, as may be approved by the members in the ensuing Annual General Meeting.
Nucleus Software Exports bags an order from Bank of the Philippines Islands
Nucleus Software Exports Ltd has informed BSE that it has bagged an order from Bank of the Philippine Islands. The bank, a forerunner in new technology upgradation, has chosen FinnOne Web Collections and Recovery Management System, from FinnOne's suit of products.
Bharat Forge clarifies on news item
With reference to news item appearing in a leading financial daily regarding talks of acquisition by Bharat Forge Ltd in the US the company has informed BSE that at present it is not in any talks for acquisition in the US.
Kotak Mahindra Fin members approve Name Change and Change in Authorised Capital
Kotak Mahindra Finance Ltd has informed BSE that at the Extraordinary General Meeting of Shareholders of the company held on December 30, 2002, the shareholders have approved the proposal of changing name of the company from "Kotak Mahindra Finance Ltd" to "Kotak Mahindra Bank Ltd" and a proposal to change Authorised Capital of the company to Rs 100,00,00,000 divided into 10,00,00,000 equity shares of Rs 10 each.
The company has further informed that the resolutions relating to change of the name of the company and changes in the MOA & AOA of the company are effective upon Company commencing the business of banking pursuant to the approval of Reserve Bank of India.
S P Shrivastava resigns as Director from the Board of Unitech
Unitech Ltd has informed BSE that Dr S P Shrivastava, a Director of the Company has retired and resigned from the Board of Directors of the Company with effect from January 01, 2003.
The Company has further informed that Dr Ramesh Kapur has resigned as Wholetime Director of the Company with effect from January 01, 2003. However he will continue to be a Director on the Board of Directors of the Company.
Mastek clarifies on news item
With reference to news item appearing in a leading financial daily Mastek Ltd has informed BSE that there is no defined agenda on any discussion on BPO by the Board at its meeting to be held on January 13, 2003.
The Chairman & Managing Director has stated in his interview as under. " We have had internal discussions on the subject, but nothing has been firmed up as yet. Plans for BPO exist only at the thought level, as the company evaluates possibilities of areas that it awaits to focus on."
PNB Gilts Board to consider Interim Dividend for 2002-2003
PNB Gilts Ltd has informed BSE that a meeting of the Board of Directors is scheduled on January 30, 2003 to consider payment of interim dividend for the year 2002-2003 and if it is approved then the record date for the same shall be January 30, 2003.
SICAL awaits DRT order for payment of Dividend
South India Corporation Agencies Ltd (SICAL) has informed BSE that in view of the orders of the Debt Recovery Tribunal (DRT), Mumbai in the case filed against the company by UTI on certain issues relating to their exercising the 'put option' on the redemption of Non Convertible Debentures, the company is being restrained from the payment of dividend. As such the recommended dividend of 7.5% on the paid-up equity share capital of the company was declared by the shareholders at the Annual General Meeting held on December 23, 2002 and the same will be disbursed to the shareholders once the company receives necessary orders from DRT, Mumbai.
Shapre Global Info to seek members' approval for scheme of Amalgamation
Shapre Global Info Services Ltd has informed BSE that an Extraordinary General Meeting of the Equity Shareholders of the company is scheduled on January 23,2003, as per the order of Hon'ble High Court of Madras, to approve Scheme of Amalgamation of the company with Net Axis Software Services Ltd.
Oriental Hotels members approve Scheme of Amalgamation
Oriental Hotels Ltd has informed BSE that the court convened meeting of the shareholders of the company was held on December 26, 2002 and the resolution approving the Scheme of Amalgamation was passed by an overwhelming majority of shareholders present in person and by proxy.
Kotak Mahindra clarifies on news item
With reference to news item appearing in a leading financial daily "Kotak Mahindra rises on Sicom bid" Kotak Mahindra Finance Ltd has informed BSE that as far as the title is concerned, the company confirms that it had send an expression of interest but the matter rests at that, and the bidding process is still someway in the future.
Vel Software members approve Sub-Division of Equity shares
Vel Software Ltd has informed BSE that the members, at the Extraordinary General Meeting held today (January 01, 2003), have approved the Sub-division of shares with modification in the resolution circulated to the members. In the notice Sub-Division was proposed from one Equity Share of Rs 10 each to 10 Equity Shares of Re 1 each. However, in the meeting the shareholders amended the proposal and approved Sub-division of one Equity Share of Rs 10 each to 4 Equity Shares of Rs 2.50 each.
The company has further informed that the Board of Directors of the company at its meeting held today (January 01, 2003) has fixed February 01, 2003 as the Record date for Sub-division of Shares.
Soundcraft Industries members approve issue of further shares upto Rs 2500 million
Soundcraft Industries Ltd has informed BSE that at its 17th Annual General Meeting held on December 24, 2002 the Shareholders of the Company authorised the Board of the Directors to issue and allot, in the course of National/International offerings on Private placement basis, rights basis or otherwise in Indian / one or more foreign markets, Equity shares, Cumulative or Non-Cumulative preference shares, Debentures, Bonds, Debt Instruments and /or securities convertible into Equity Shares not exceeding Rs 2500 million or equivalent.(inclusive of premium as may be determined).
Adam Comsof members approve issue of further shares upto Rs 2500 million
Adam Comsof Ltd has informed BSE that at its 12th Annual General Meeting held on December 26, 2002 the Shareholders of the Company authorised the Board of the Directors to issue and allot, in the course of National/International offerings on Private placement basis, rights basis or otherwise in Indian / one or more foreign markets, Equity shares, Cumulative or Non-Cumulative preference shares, Debentures, Bonds, Debt Instruments and / or securities convertible into Equity Shares not exceeding 2500 million or equivalent.(inclusive of premium as may be determined).
SEBI allows Venky's India to proceed with the Buyback of shares
Venky's India Ltd has informed BSE the SEBI, on December 27, 2002, has allowed the company to proceed with the Buy back of shares by the Company.
Jammu & Kashmir Bank Q3 results on January 10, 2003
Jammu & Kashmir Bank Ltd has informed BSE that a meeting of the Board of Directors is scheduled on January 10, 2003 to inter alia consider and take on record the Unaudited Financial Results (Provisional) for the quarter ended December 31, 2002.
Mphasis BFL Q3 results on January 09, 2003
Mphasis BFL Ltd has informed BSE that a meeting of the Board of Directors is scheduled on January 09, 2003 inter alia to take on record the Audited Financial results for the quarter ended December 31, 2002 (Q3).
Global Infrastructure & Technologies Members approve further issue of shares to FD holders
Global Infrastructure & Technologies Ltd has informed BSE that the Shareholders of the Company at the Extraordinary General Meeting held on December 30, 2002 have unanimously approved the special resolution for further issue of the Equity Shares on Preferential Allotment basis to those of the 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.
Dr A K Bhatnagar ceases to be a Director of Indian Oil Corp
Indian Oil Corporation Ltd has informed BSE that Dr A K Bhatnagar, Director (R&D) has superannuated from the services of the Corporation on December 31, 2002 and consequently ceases to be a Director (R&D) of the Company.
The corporation has further informed that Shri N R Raje has been appointed as an Additional Director and designated as Director (R&D) effective January 01, 2003 in place of Dr A K Bhatnagar.
Jindal Polyester Board to consider issue of Optionally Convertible Preference Shares on Preferential basis
Jindal Polyester Ltd has informed BSE that a meeting of the Board of Directors is scheduled on January 06, 2003 to consider and approve the following matters, which were deferred in its last Board Meeting:
1. To issue Zero Percent Optionally Convertible Preference Shares to the promoters and/or associates upto Rs 350 million on preferential basis.
2. To change the terms and conditions of the existing series III of the 6% Convertible Cumulative Preference Shares of the company.
3. To change the terms and conditions of the existing 7% Redeemable Cumulative Preference Shares of the company.
4. To change the terms and conditions of the existing Zero Percent Optionally Convertible Preference Shares of the company.
ITC Board approves setting up a Strategic Business Unit
ITC Ltd has informed BSE that the Board of Directors at its meeting held on December 31, 2002 has approved, as part of the FMCG portfolio, setting up a Strategic Business Unit for sourcing 'Agarbattis' from the small scale sector.
