Saregama India Q1 net loss at Rs 6.50 million

Saregama India Ltd has posted a net loss of Rs 6.50 million for the quarter ended June 30, 2001 as compared to a profit of Rs 25.20 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 296.80 million as compared to Rs 403.90 million in the corresponding period last fiscal. The Board has proposed a dividend of 30% for the Financial Year 2000-2001. The Company has reported that the results for the quarter are not indicative of the annual performance as most of the new film releases are scheduled for the second half of the Financial Year 2001-2002.

State Bank's subsidiary SBI European Bank PLC placed under liquidation

State Bank of India has informed BSE that the operations of the SBI European Bank PLC (SEBAL) have ceased and the subsidiary has been placed under liquidation.

EID Parry FY-01 net down by 17.18%

EID Parry (India) Ltd has posted a net profit of Rs 446.40 million for the year ended March 31, 2001 as compared to Rs 539 million for the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 13665.80 million as against Rs 11346.50 million in year ended March 31, 2000.

Jindal Steel & Power Q1 result date rescheduled to July 25, 2001

The meeting of the Board of Directors of Jindal Steel & Power Ltd will now be held on July 25, 2001 instead of July 24, 2001 to consider, among other business, taking on record, the unaudited financial results (provisional) for the quarter ended June 30, 2001.

Aurobindo Pharma Q1 results on July 31, 2001

A meeting of the Board of Directors of Aurobindo Pharma Ltd is scheduled to be held on July 31, 2001 to consider and take on record the Unaudited Financial Results of the Company for the first quarter ended June 30, 2001.

Washington Softwares announces 1:2 Bonus

The Board of Directors of Washington Softwares Ltd at its meeting held on July 13, 2001 has decided to issue Bonus shares in the ratio of one equity share for every two equity shares held by existing shareholders on the Record Date to be fixed by the Board and such new shares, as and when issued and fully paid, shall rank pari passu with the existing shares of the Company. The aforesaid issue is subject to the approval of the shareholders in the Annual General Meeting to be held on August 27, 2001 and in accordance with the guidelines of Securities and Exchange Board of India.

Paramount Communications Board to consider Bonus issue

A meeting of the Board of Directors of Paramount Communications Ltd is scheduled to be held on July 27, 2001 to consider the issue of Bonus shares to the existing shareholders subject to the approval of the members of the Company. The aforesaid meeting will consider the unaudited financial results of the Company for the quarter ended June 30, 2001.

Mico Bangalore and Naganathapura plants to resume 6-day working week

Motor Industries Ltd has informed BSE that the Bangalore and Naganathapura Plants of the Company have resumed 6-day working from the week commencing July 16, 2001 and July 02, 2001 respectively. The Company had earlier decided to introduce a 5 day working week at its Bangalore and Naganathapura plants with effect from April 28, 2001 and May 05, 2001 respectively.

Digital Equipment issues press release on Q1 results

Digital Equipment (India) Ltd announced its quarterly results for the first quarter ended June 30, 2001 wherein the key features are as under: Corresponding quarter comparison (April-June 2001 v/s April - June 2000) - growth - Total Revenues significantly higher by 125% to Rs 732.40 million from Rs 326.10 million - PBDT increases by 169% to Rs 234 million as compared with Rs 86.90 million - Net Profit before tax rises by 201% to Rs 215.30 million compared with Rs 71.60 million - Net Profit after tax rises substantially by 233% to touch Rs 192 million - EPS for the quarter rises to Rs 5.87 compared with Rs 1.76 Sequential quarter comparison (April -June 2001 v/s Jan- Mar 2001) -FY 2002 commences on optimistic note - Encouraging growth in total revenues - higher by 12% to Rs 732.40 million from Rs 652.20 million - PBDT increases 10% to Rs 234 million from Rs 212.50 million - Net Profit before tax has increased by 13% to Rs 215.30 million compared with Rs 190.60 million - Net Profit after tax grows by 4% to a record Rs 192 million as compared to Rs 185.40 million despite a significantly higher tax provision. Revenue analysis (April - June 2001 v/s April - June 2000) - overall diversification continues - Non-Compaq business revenues contributed 15% of operating revenues compared with 11% in absolute terms non-Compaq revenues increased by 232% to Rs 107 million compared with Rs 32.20 million - Revenues from Compaq business form 85% of operating revenues - increase by 135% contributing Rs 596.30 million compared with Rs 254 million. Diversified and growth based revenue contribution from multiple business units continues: - Applications contribution at 44% - Systems Engineering Contribution at 20% - Enterprise Solutions contribution at 21% - Infrastructure contribution at 12% - Telecom contribution at 3% Onsite revenues contribute to 69% of operating revenues with offshore contributing balance 31% reflects increase in new assignments where Initial onsite engagement is high and involves strategic employment of resources. With amplified focus on new business development the contribution ratio is likely to remain steady over the next few quarters. Work continues at a accelerated pace on the Company's 20 acre Campus at Electronic City: - Initial phase of the Campus commissioned on July 18, 2001 in record time of under eight month- first block to have seating capacity for 400 people. - Second block under advanced stage of implementation and work on corporate block also commences - But with state of the art technology it has been designed in a manner that is both ecologically firendly and promotes harmonious and creative working environment Commenced implementation of the company's Proximity Center at Houston for its non-Compaq customers-this center will act as a vital network hub for independent customers. Operational developments - Key initiatives continue - Created a new business unit - Enterprise Solutions Business Unit to allow for greater focus on attractive business development opportunity. With new customer engagements and the realignment of intra-segment businesses this division contributed to 21% of the revenues - Purchased Electronic Data Interchange (EDI) product from Compaq along with its Intellectual Property Rights (IPR). This will be the first IPR owned by the Company- an important milestone for the product introduction roadmap for the company: a. Provides Digital India with valuable experience from not only product management perspective, but also as a route access to a global customer base. b. Digital India plans to incorporate significant product enhancements that will make it an international level product offering from the company. c. The existing customer base of EDI includes corporations such as Ericsson, Tropicana Intel, Boeing, State of Ohio, ABB, Phillips, Lego and VOESt Alpine. Human resources strength increases from 1188 people as on 31 March 2001 to 1246 people as on 30 June 2001- significant improvement in utilization rates. Board Approvals. - Board approves an increase in FII investment limit to 49%. - Board recommends change of name to Digital Global Soft Limited - subject to shareholder and regulatory approvals. Following the company's Board Meeting, Jeff Lynn, Chairman, Digital India, Said: "Digital India has emerged as a front-running player within this sector with proven ability to rapidly scale operations and provide leading edge solutions in a challenging operating environment. While the company continues to remain an internationally important strategic partner to Compaq, it is making rapid progress in simultaneously building a high quality international client base".

Trading in securities of Stencil Apparel Brands to resume

BSE has informed the Members of the Exchange that the dealings in the securities of Stencil Apparel Brands Ltd can be resumed with effect from July 23, 2001. Earlier BSE has advised its members not to deal in the securities of the aforementioned scrip because of non-compliance of listing requirements regarding intimation of dates of closure of Registrar of Members / Record Dates to the Exchange. The Trading in the scrip will be now resumed on Trade to Trade Basis.

Max India Q1 results on July 31, 2001

A meeting of the Board of Directors of Max India Ltd is scheduled to be held on July 31, 2001 to take on record the unaudited financial results of the Company for the quarter ended June 30, 2001.

Cipla Q1 results on July 26, 2001

A meeting of the Board of Directors of Cipla Ltd is scheduled to be held on July 26, 2001 to consider the Annual Accounts of the Company for the year ended March 31, 2001, recommendation of Dividend, if any, and the Unaudited Financial Results for the first quarter ended June 30, 2001

Digital Equipment Q1 net up by 233.33%

Digital Equipment (India) Ltd has posted a net profit of Rs 192 million for the quarter ended June 30, 2001 as against Rs 57.60 million in the corresponding period in the previous year. Net Sales/Income from Operations for the quarter ended June 30, 2001 is higher at Rs 703.30 million as against Rs 286.20 million in the quarter ended June 30, 2000. Other Income is at Rs 29.10 million in JQ 2001 as against Rs 39.90 million in JQ 2000. The Other Income for the current quarter, largely represents Interest earned by investing the surplus funds available with the Company in short term deposits. The Company entered into an agreement with Compaq, during the current quarter, for transfer of DEC/EDI product software along with IP rights. This would be the first IP that the company would own.

Wartsila India Q2 net at Rs 35 million

Wartsila India Ltd has posted a net profit of Rs 35 million for the quarter ended June 30, 2001 as against the same profit (Rs 35 million) posted in the corresponding period last year. Net Sales/Income from operations for the quarter ended June 30, 2001 is higher at Rs 734 million as against Rs 704 million in the quarter ended June 30, 2000. The Company's orderbook on June 30, 2001 for Power Plants to be executed was Rs 683 million against Rs 1979 million on June 30, 2000 and therefore the financial performance is likely to be lower than that in the last year. The Board of Directors has approved a scheme of Amalgamation of Wartsila Operations & Maintenance India Limited (the 100% wholly owned subsidiary Company) with itself with effect from 1st April 2001. Necessary steps are being taken for the implementation of the Scheme including filing the relevant applications with the Bombay High Court.

Stock Net International Board approves Stock Split

Stock Net International Ltd has informed BSE that the Board of Directors of the Company at its meeting held today (July 19, 2001) has approved the Stock Split of Shares from Rs 10 to Rs 2 per share subject to the approval of the shareholders. The aforesaid meeting has also approved an Interim Dividend of Rs 2 per share.

Novartis and Novo Nordisk partners for commercialization of Dr Reddy's compound in North America

Dr. Reddy's Laboratories Ltd, in a press release issued to the BSE, has informed that Novartis Pharma AG and Novo Nordisk today (July 19, 2001) announced an agreement on the commercialization of NN622 (DRF-2725), currently in development for the treatment of type 2 diabetes, in North America. Under the terms of the of the agreement, Novartis acquires exclusive rights to commercialize the compound in the US, Canada and Mexico, with Novo Nordisk retaining certain detailing rights for the US. Dr.Reddy's has licensed DRF-2725 (NN622) to Novo Nordisk in August 1998 against upfront payment, milestone payments and royalties. The current agreement between Novo Nordisk and Novartis will not affect any of the terms and conditions of Dr.Reddy's earlier agreement with Novo Nordisk. DRF-2725 (NN622) is currently in phase II clinical development by Novo Nordisk and is expected to be among the first to reach the market from a new generation of dual acting sensitizers currently in development. Commenting on this development, Dr. Anji Reddy, Chairman Dr. Reddy's Laboratories Ltd, said, "Novo Nordisk partnering with a strong company like Novartis should take our discovery, DRF-2725 to a commanding position in North American market. Coming, as it does, close on the heels of our licensing of DRF-4158 to Novartis, I am gratified by the expanding relationship between Dr. Reddy's and Novartis".

Dr. Reddy's crosses a major hurdle in marketing Fluoxetine 40 mg capsules

Dr. Reddy's Laboratories Ltd, in a press release issued to the BSE, has announced that following the denial by U.S. Court of Appeals, Federal Circuit in Washington, D.C. of Eli Lilly's request for a rehearing regarding Prozac(R), Dr. Reddy's has overcome a major hurdle in the launch of its 40 mg fluoxetine capsules licensed to its alliance partner. In a separate court proceeding last week, Dr Reddy's was successful in having the final outcome of its case tied to the final outcome of the Barr Litigation. This will ensure that Dr. Reddy's will launch the product at the same time as Barr. "The ruling removers a major hurdle for the launch of our 40 mg fluoxetine capsules under exclusivity'" states G V Prasad, Chief Executive Officer, Dr Reddy's . "This is the first time ever that any Indian company will launch a product under 180 days exclusivity and we are all very excited about this development," he adds. Fluoxetine 40 mg capsules is one of 14 generic pharmaceutical products covered in the exclusive co-marketing and development agreement with its US alliance partners.

NIIT issues press release on Q3 results

The results of NIIT Ltd for the Q3 were taken on record at a meeting of the Board of Directors of the Company at New Delhi today (July 19, 2001). In the just concluded Q3, NIIT recorded an Operating Profit (with Other Income) of Rs 140 million. After accounting for a depreciation of Rs 88 million, the Company has reported a PAT of Rs 53 million in the Q3 ending June 30, 2001. Commenting on the impact of economic slowdown, Mr Rajendra S Pawar Chairman NIIT said "The global economic slowdown has had an early and larger than normal impact on NIIT. The software business of NIIT, which has a larger component of work in Emerging areas and New technologies than the more stable Legacy Maintenance, has seen a slowdown, though quite in line with the revised estimates made in March this year. The Education business being a consumer sentiment and confidence created by the torrential flow of negative views about corporate results from most global markets." Speaking on the concrete response to the slowdown from NIIT, Vijay K. Thadani Chief Executive Officer said " We chose to spend additional Rs. 180 million in brandbuilding for software & education business. While this move reduced our profits for the quarter, we have seen early gains in market share in a shinking IT education market." "Our market share gain strategy in education business will help us strengthen our dominant position further. In the Software Services business, the investments will position us for a rapid growth in the revival phase," NIIT's Q3 performance (April-June 2001) marked by : 1. Additional 180 million spent on brand building, marketing & technology upgrade for software and education. 2. Global Software Services Business in line with March 7 guideline 3. 23 new customers in Q3 4. Global learning business impacted by slowdown 5. 114 new education centres in Q3 Expansion of NIIT network The reach of NIIT's education centers was expanded to 2342. This includes 109 international enters in 27 countries outside India. In Q3, 114 new education centers were added as against 155 centers in Q2. Future Outlook NIIT to invest aggressively in brand building, technology upgradation, and people for post slowdown revival phase Despite the slowdown, the mood of the NIIT leadership team is proactive. Th approach is to take on the difficult times with confidence and aggression, with their eyes set on the post-slowdown revival. Speaking on the strategy for the future Mr Pawar said, "Economic slowdown are an opportunity to reinvest the company and make it more contemporary, efficient and aggressive. Given our strong Balance Sheet, SEI Level 5 processes, New technologies capabilities and global brand with presence in 38 countries, we intend to come out of this phase a stronger company". "We will make more aggressive investments in Brand building, technology development, skill building and market access initiative to catch the revival at its early stage. While this approach, coupled with the current slowdown will depress profit next quarter, this should help us create shareholder value going forward," he added.

Siemens Q3 net profit down by 48.97%

Siemens Ltd has posted a net profit of Rs 75.72 million for the quarter ended June 30, 2001 as against Rs 148.41 million for the quarter ended June 30, 2000. Net Sales & Services is higher at Rs 2814.82 million in the quarter ended June 30, 2001 as against Rs 2316.31 million for the quarter ended June 30, 2000. Lease and Other Income is at Rs 131.59 million in JQ 2001 as against Rs 143.39 million in JQ 2000. During the quarter ended June 30, 2001 the Company has decided to go for buy back of equity shares from the open market through stock exchange method, not exceeding in the aggregate 8,873,549 equity shares of Rs 10 each being 25% of the existing paid-up capital of Rs 354,941,970 at a buy back price not exceeding Rs 250 per share and a buy back consideration not exceeding Rs 805,252,859 As on June 30, 2001 the Company has applied to buy back 213,907 shares amounting to Rs 43,394,851 for which the extinguishment only took place in July 2001. Lease and Other Income in the current quarter includes Rs 29.45 million on account of interest on income tax refund.

Motherson Sumi Systems Q1 net down by 5.91%

Motherson Sumi Systems Ltd has posted a net profit of Rs 55.25 million for the quarter ended June 30, 2001 as against Rs 58.72 million for the quarter ended June 30, 2000. Total Income is at Rs 682.50 million in JQ 2001 as against Rs 604.02 million in JQ 2000. Interest Expenditure has risen from Rs 14.30 million in JQ 2000 to Rs 31.11 million in JQ 2001. The aforesaid results include the figures of Motherson Automotive Technologies & Engineering Ltd and Motherson Sumi Electric Ltd, 100% subsidiaries of the Company, which are being merged into the Company with effect from April 01, 2001. The Company has filed the petition for approval of merger with the Honourable High Court of Delhi.

GKN Driveshafts plant workers resume work

GKN Driveshafts (India) Ltd has informed BSE that the workers of the company have resumed their duties on July 16, 2001 at both the plants i.e. Plot No.270, Sector 24, Faridabad 121005, Haryana and Plot No.34 & 35, Industrial Area, Dharuhera, Rewari.

Dewan Rubber Industries to be referred to BIFR

Dewan Rubber Industries Ltd has informed BSE that, company has become sick industrial company and due to erosion of Net Worth a reference to BIFR is to be made under provisions of SICA, 1986.

Colgate-Palmolive Q1 results on July 27, 2001

A meeting of the Board of Directors of Colgate-Palmolive (India) Ltd is scheduled to be held on July 27, 2001 to take on record the unaudited financial results for the quarter ended June 30, 2001.

BSE imposes Special Margin of 25% on Gujarat Fiscon

BSE has informed the members of the exchange that Special Margin of 25% in the under mentioned scrip has been imposed with effect from today (July 19, 2001). Code Name Group 31984 GUJARAT FISCON LTD B2

NIIT Q3 net down by 93.22%

NIIT Ltd has posted a net profit of Rs 52.90 million for the quarter ended June 30, 2001 as compared to Rs 780.20 million in the corresponding period last fiscal. Total Income for the quarter ended June 30, 2001 is at Rs 1555.70 million as compared to Rs 2042.50 million in JQ 2000. The development production & execution expenses have increased from Rs 655 million in JQ 2000 to Rs 748.20 million in the quarter ended June 30, 2001.

NIIT enters into agreement with IFC for development of internet kiosks

NIIT Ltd has entered into an agreement with International Finance Corporation, Washington USA (IFC) for the joint development of Internet Kiosk (the Project) at 65 locations throughout India for providing minimally invasive education to children residing in rural and slum areas. This project will be implemented through a newly incorporated company, which shall be a subsidiary of NIIT. IFC shall also be participating in the capital of the company. The Board of NIIT has given its concurrence to invest and participate in the above project.

Kale Consultants posts Rs 8.67 million as net loss in Q1

Kale Consultants Ltd has posted a net loss of Rs 8.67 million for the quarter ended June 30, 2001 as against a net profit of Rs 3.63 million for the same period last fiscal. Total Income for the quarter ended June 30, 2001 is higher at Rs 106.59 million as against Rs 68.93 million for the quarter ended June 30, 2000. The Company has decided to issue 0.20 million additional shares to the Company's Employee Welfare Trust, subject to approval in the Annual General Meeting.

Maars Software calls off proposed merger with Mascon Global

Maars Software International Ltd has informed BSE that the Board of Directors of the Company at its meeting held today (July 18, 2001) reviewed the proposed merger with Mascon Global Ltd. Taking into consideration the prevailing market conditions, it has been decided to call off the proposed merger with Mascon Global. The Board has also agreed that both companies could explore the possibilities of business arrangement for synergising the respective strength.

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