Ind-Swift Laboratories Ltd, a significant player in the global bulk Actives market, has recorded 22% growth in Turnover to Rs 283.50 million and 26% growth in net profit to Rs 9.70 million for the first quarter ended June 2002.
The exports of the company grew by 15% over the quarter of the previous year, which were 35% of the sales of the quarter. The Company launched 7 New molecules in the last two years in the company has been one of the First 5 to introduce all these products. The Company has successfully Commercialized 'Citalopram' a leading and fastest growing Anti-Depressant In world.
The focus on research-driven bulk actives for new generation drugs has positioned the Company as one of the partners of choice for souring as Well as contract research. The Company's strategy of Focusing on
Selected products would start paying off once the overseas registration of these products are received.
The company plans to file the drug master file with USFDA for two of its Major products in the near future. Filings for regulatory approvals in the other potential markets have also started. The product selection is based on Development of non-infringing processes for the existing products going off-
Patent while developing actives for latest product introductions. Strategic Alliances is a part of the globalisation initiatives and discussions are on with Companies in Europe and US for alliances.
Bharti Tele subsidiary to launch cellular operations in Gujarat
Bharti Tele-Ventures Ltd has informed BSE that M/s Bharti Cellular Ltd, a wholly owned subsidiary of the Company which is holding license for providing Cellular Mobile Telephone Services (CMTS) in the cellular circle of Gujarat would be formally launching its operations on August 5, 2002.
Avon Mercantile to consider allotment of equity shares
Avon Mercantile Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on August 10, 2002 to consider the following agenda:
To consider the allotment of 2483450 equity shares of Rs 10 each consequent upon merger of Ranger Tradelink Pvt. Ltd and Nocil agents Pvt. Ltd with the Company as per order dated July 17, 2002 passed by Honorable High Court at Calcutta.
To consider any other business with the permission of the chair.
Indian Organic Chemicals announces change in management structure
Indian Organic Chemicals Ltd has informed BSE that the following changes took place in the Board of Directors:
Mr T Gangadharan who was Additional Director resigned from the Board
Mr Shyam Sunder Sami is appointed as Additional Director liable to retire by rotation to hold office till the ensuing AGM
Mr S G Makim, Whole Time Director & CEO (Chemicals Division) has retired from the Company as well as from the Directorship. He would be appointed as Managing Director & CEO of the subsidiary Company, Innovasynth Technologies India Ltd.
Thermax FY-02 audited results postponed to August 19, 2002
Thermax Ltd has informed BSE that the meeting of the Board of Directors of the Company scheduled on August 06, 2002 has been rescheduled to August 19, 2002 to inter alia approve the audited financial results for the year ended March 31, 2002 and to recommend dividend for the year ended March 31, 2002.
The company has further informed that the Hon'ble High Court of Judicature at Bombay has passed orders on August 01, 2002 approving the scheme of amalgamation of Thermax Water Technologies Ltd (TWTL) with the Company. Pursuant to the orders TWTL a wholly owned subsidiary shall be amalgamated with the Company in accordance with the scheme of Amalgamation with effect from the appointed date ie from January 01, 2002.
Pentagon Global Board approves rights issue
The Board of Directors of Pentagon Global Solutions Ltd at its meeting held on August 3, 2002 decided to make a rights issue of equity shares at par.
The rights issue will comprise of 1,24,24,260 equity shares aggregating to Rs 12,42,46,200 which will be offered to the existing equity shares in the ratio of two equity shares for every three shares held by them.
For obtaining the consent of the shareholders of the companies Act, an Extraordinary General Meting will be held on September 06, 2002.
Etp Corporation Board to consider allotment of bonus shares
Etp Corporation Ltd has informed BSE that the shareholders of the Company have approved the issue of Bonus Shares at the ratio of 1:1 to the existing shareholders of the Company in the extra ordinary general meeting held on August 1, 2002, in view of this, the Board of Directors of the Company have decided to call the Board meeting on August 7, 2002 to transact the following business:
To allot the Bonus Shares in the ratio of 1:1 to the existing shareholders of the Company.
To fix the record date/book closure
Any other business with the permission of the chair.
ACC July-02 cement despatches up by 18.48%
Associated Cement Cos. Ltd has informed BSE that company's production and despatch figures in July, 2002 were as follows:
July 2002
Cement Production -- 1.103 million tonnes
Cement Despatches -- 1.077 million tonnes July 2001
Cement Production -- 0.949 million tonnes
Cement Despatches -- 0.909 million tonnes
Cumulative production and despatches from April 2002 to July 2002 are
April-July 2002
Cement Production -- 4.709 million tonnes
Cement Despatches -- 4.715 million tonnes April-July 2001
Cement Production -- 3.964 million tonnes
Cement Despatches -- 3.959 million tonnes
Jindal Steel & Power fixes book closure for payment of dividend
Jindal Steel & Power Ltd has fixed September 03, 2002 to September 14, 2002 as book closure for the purpose of payment of dividend.
City Union Bank opens a branch at Fort- Mumbai
City Union Bank Ltd has informed BSE that they have opened a Branch at Fort- Mumbai on July 29, 2002.
