A meeting of the board of directors of IT&T Ltd will be held on January 17, 2003 to consider the resolution passed by the members of the company in the AGM on the captioned subject. The Board will consider not acting on the resolution passed by the members of the company authorizing the Board to issue maximum upto 30,00,000 equity shares of Rs 5 each by way of rights.
Jaiprakash Ind Board constitutes Committee of Directors to examine proposal of merger
The board of directors of Jaiprakash Industries Ltd at their meeting held today (January 9, 2003) has constituted a Committee of Directors to examine the proposal of merger of Jaiprakash Industries Ltd & its subsidiary Jaypee Cement Ltd in consultation with JCL and submit a detailed proposal to the Board for final decision.
Geometric Software Q3 net at Rs 29.94 million
Geometric Software Solutions Company Ltd has posted a net profit of Rs 29.94 million for the quarter ended December 31, 2002 as compared to Rs 35.50 million in the quarter ended December 31, 2001. Total Income has increased from Rs 157.17 million in the quarter ended December 31, 2001 to Rs 163.36 million in the quarter ended December 31, 2002.
The consolidated results are as follows:
Net profit for the quarter ended December 31, 2002 is at Rs 46.61 million as against Rs 37.39 million in DQ-01. Total Income has increased from Rs 176.08 million in DQ-01 to Rs 228.65 million in the quarter ended December 31, 2002.
Lupin Q3 results on 28, 2003
A meeting of the board of directors of Lupin Ltd will be held on January 28, 2003 to consider and take on record the unaudited financial results for the quarter ended December 31, 2002.
Triveni Eng Board approves reorganisation of equity share capital
The board of directors of Triveni Engineering & Industries Ltd at their meeting held today January 9, 2003 decided to reorganise the paid up equity share capital of the company by converting upto a maximum of 40% of the fully paid up equity shares of Rs 10 each into 12% Cumulative Redeemable Preference Shares of Rs 10 each fully paid up under a scheme of arrangement between the company and its equity shareholders.
The preference shares will be redeemed at a premium of Rs 32 per share. The redemption will be in two equal installments on April 01, 2004 and April 01, 2005 and the shareholders will receive Rs 21 (Rs 5 towards prinicpal + Rs 16 towards premium) in each installment. The conversion ratio is 1:1 and in case the total number of equity shares to be converted into preference share shares are in excess of 40%, allotment will be made on pro-rata basis.
TCM Ltd to consider rights issue
A meeting of the board of directors of TCM Ltd will be held on January 17, 2003 to consider a rights issue.
Gujarat Ambuja Cements grants options to directors
Gujarat Ambuja Cements Ltd has informed BSE that the Compensation & Remuneration Committee has granted 8,15,800 Stock Options to its eligible Whole-Time Directors and employees for the year 2002-2003.
The Share Allotment & Investor Grievance Committee at its meeting held on January 9, 2003 has allotted 17200 equity shares on exercise of the stock options by the employees as per the details given below:
ESOS----------2000-2001----------16,700
ESOS----------2001-2002----------500
Aksh Optifibre terminates Long Term Sale & Purchase Agreement with Japanese Co
Aksh Optifibre Ltd has informed BSE that in view of the change business dynamics company has terminated a five year long-term sale and purchase agreement for supply of "Single mode matched clad preform" (product's name) with a Japanese Company on December 31, 2002.
Sonata Software Q3 results on Jan 17, 2003
Sonata Software Ltd has informed BSE that the meeting of the board of directors of the company will be held on January 17, 2003 to consider interalia, the audited results for the quarter and nine months ended December 31, 2002.
Chennai Petroleum Corp Q3 results on Jan 27
A meeting of the Board of Directors of Chennai Petroleum Corporation Ltd is scheduled on January 27, 2003 to consider and take on record the unaudited financial results (provisional) for the Quarter ended December 31, 2002.
Indian Oil Q3 results on Jan 28, 2003
A meeting of the board of directors of Indian Oil Corporation Ltd will be held on January 28, 2003 to consider and take on record the unaudited financial results for the quarter ended December 31, 2002.
At the said meeting the board will consider declaration of interim dividend.
PNB Gilts Q3 net at Rs 710.87 million
PNB Gilts Ltd has posted a net profit of Rs 710.87 million for the quarter ended December 31, 2002 as compared to Rs 380.31 million in the quarter ended December 31, 2001. Income from operations has increased from Rs 740.70 million in DQ-01 to Rs 1327.36 million in the quarter ended December 31, 2002.
The company has declared an interim dividend of 10% in the aforesaid meeting.
Dr Reddys Q3 results on Jan 28, 2003
A meeting of the board of directors of Dr Reddys Laboratories Ltd will be held on January 28, 2003 to consider and take on record the unaudited financial results for the quarter ended December 31, 2002.
Oriental Bank Q3 results on January 24
A meeting of the board of directors of Oriental Bank of Commerce will be held on January 24, 2003 to consider and take on record the unaudited financial results for the quarter ended December 31, 2002.
HCL Tech Q2 results on Jan 22, 2003
A meeting of the board of directors HCL Technologies Ltd will be held on January 22, 2003 to consider and take on record the unaudited financial results for the quarter ended December 31, 2002.
Ajanta Soya to delist equity shares from 3 stock exchanges
Ajanta Soya Ltd has informed BSE that the company wants to delist its equity shares from Ludhiana, Ahmedabad and Calcutta Stock Exchanges.
Fortune Financial Services delisted from Ahmedabad Stock Exchange
Fortune Financial Services India Ltd has informed BSE that the Delistment panel of the Stock Exchange, Ahmedabad has at their meeting held on December 03, 2002 took note of voluntary delistment application of the company and unanimously removed the company from the list of Stock Exchange.
Bemco Hydraulics to make preferential allotment of 11% Cum Red Pref Shares
Bemco Hydraulics Ltd has informed BSE that the Board of Directors of the company at its meeting held on December 24, 2002 has decided to make preferential allotment of 14,732 11% Cumulative Redeemable Preference Shares of the Promoters or such other companies as the Board of Directors may decide at a premium of Rs 60 per share, so as to enable the company to redeem the 14% 14,732 cumulative Preference shares of Rs 100 each at a premium to be decided by the board.
An EGM will be held on February 5, 2003 to authorize preferential allotment of 14,732 11% cumulative redeemable preference shares.
Tata Telecom Q3 results on January 30, 2003
A meeting of the board of directors Tata Telecom Ltd will be held on January 30, 2003 to consider and take on record the unaudited financial results for the quarter ended December 31, 2002.
Aztec Software Q3 results on January 20, 2003
A meeting of the board of directors Aztec Software & Technology Services Ltd will be held on January 20, 2003 to consider and take on record the unaudited financial results for the quarter ended December 31, 2002.
Hughes Software issues business outlook
Taking about the company's performance, Arun Kumar president & managing director said, "Providing consistent and predictable performance is a high priority for Hughes Software Systems. The results this quarter are a further indication that our efforts here are being successful. We are working towards carrying this trend into the future. The launch of BPO operations ahead of schedule gives us confidence on our ability to move forward on new initiatives."
Commenting on near term prospects, Kumar said, "Our goal is to continue with the strategy of diversification of revenues. We believe that this will help grow its revenues and profitability."
Hughes Software Q3 net at Rs 114 million
Hughes Software Systems Ltd has posted a net profit of Rs 114 million for the quarter ended December 31, 2002 as compared to Rs 145 million in the quarter ended December 31, 2001. Total Income has decreased from Rs 629 million in the quarter ended December 31, 2001 to Rs 590 million in the quarter ended December 31, 2002.
Indian Oil Corp clarifies on news item
With reference to the news item appearing in a leading financial daily titled "Indian Oil to go ahead with Paradip Refinery Project" Indian Oil Corporation Ltd has informed BSE that the Paradip Refinery Project is likely to be implemented in a phased manner for which the Corporation has constituted a Committee for evaluating the time frame for commissioning the said project depending upon multifarious factors such as supply demand scenario etc.
Punjab National Bank clarifies on news item
With reference to the news article appearing in a leading financial daily Punjab National Bank has informed BSE that the board desired that the modalities for the follow-on public issue be worked out for their further consideration. The profitability of the bank is comfortable and the book value of the share is about Rs 130 to which the pricing of the issue will have linkage.
The bank has further informed that a final view shall be taken in this regard after examining the various related aspects, which shall be placed for the consideration of the board. However, there are no plans to come out with an issue in the near future.
Indian Hotels appoints whole time director
At the meeting of the board of directors of Indian Hotels Company Ltd held on Thursday Raymond Bickson has been appointed as a whole time director of the company wef January 15, 2003.
ITC Q3 results on January 17, 2003
A meeting of the board of directors ITC Ltd will be held on January 17, 2003 to consider and take on record the unaudited financial results for the quarter ended December 31, 2002.
Eonour Tech Q3 net at Rs 54 million
Eonour Technologies Ltd has posted a net profit of Rs 54 million for the quarter ended December 31, 2002 as compared to Rs 44.32 million in the quarter ended December 31, 2001. Sales have increased from Rs 169.33 million in DQ-01 to Rs 254.20 million in DQ-02.
The consolidated results are as follows:
Sales are at Rs 511.60 million for the quarter ended December 31, 2002 and net profit is at Rs 95.21 million.
Mphasis BFL Q3 net at Rs 194 million
Mphasis BFL Ltd has posted a net profit of Rs 193.99 million for the quarter ended December 31, 2002 as compared to Rs 135.25 million in the quarter ended December 31, 2001. Revenues have increased from Rs 476.71 million in the quarter ended December 31, 2001 to Rs 564.84 million in the quarter ended December 31, 2002.
The consolidated results are as follows:
Net profit for the quarter ended December 31, 2002 is at Rs 181.80 million as against Rs 129.06 million in DQ-01. Revenues have increased from Rs 803.64 million in DQ-01 to Rs 1159.50 million in the quarter ended December 31, 2002.
Commenting on the results Mr Jerry Rao, CMD said, We have had a good quarter in software with growth both in topline and an improvement in margins and profits. Msource continues to ramp-up rapidly and is on a firm and sustained growth track. We are investing in capacity at Msource in anticipation of strong growth. While this does not impact net margins we believe this is the right medium strategy.
Bharti Tele-Ventures Q3 results on January 20, 2003
A meeting of the board of directors Bharti Tele-Ventures Ltd will be held on January on January 20, 2003 to consider and take on record the unaudited financial results for the quarter ended December 31, 2002.
Sanyei Mediquip fixes record date for bonus issue
Sanyei Mediquip Ltd has fixed February 01, 2003 as the record date for the purpose of issue of one bonus share for every one existing equity share held.
Transactions in the above mentioned equity share will be on cum bonus basis upto January 13, 2003 and Ex-bonus basis from January 14, 2003.
Anand Electric Supply fixes record date for bonus issue
Anand Electric Supply Company Ltd has fixed February 01, 2003 as the record date for the purpose of issue of four bonus share for every three existing equity shares held.
Transactions in the above mentioned equity share will be on cum bonus basis upto January 13, 2003 and Ex-bonus basis from January 14, 2003.
Polychem fixes record date for reduction in share capital
Polychem Ltd has fixed January 20, 2003 as the record date for the purpose of Reduction of Share Capital of the Company. The Share Capital will stand reduced from 1,61,61,808 equity shares of Rs 10 each to 4,04,045 equity shares of Rs 10 each by allotment of one equity share of Rs 10 each for every 40 existing equity shares of the Company held.
