Ballarpur Industries Ltd has informed BSE that the AGM of the Company is scheduled to be convened on December 23, 2002 and the Share Transfer Books and Register of Members of the Company will be closed from December 16, 2002 to December 23, 2002 (both days inclusive).
Reckitt Benckiser ED-Mr K N Bhattacharya to retire w e f September 30, 2002
Reckitt Benckiser India Ltd has informed BSE that Mr K N Bhattacharya, Executive Director & CFO of the Company would retire from the services of the Company w e f the close of business hours of September 30, 2002 earlier than the normal course of his term of office which is up to March 31, 2003.
Hema Salot resigns from the Board of Dynacons Systems & Solutions
Dynacons Systems & Solutions Ltd has informed BSE that the Board of Directors have received the resignation of Mrs Hema Salot from the post of Director of the Company and the same has been accepted by the Board.
Tata Power appoints F A Vandrevala as MD wef Sept 01, 2002
At its meeting held today (August 27, 2002) the Board of Directors of Tata Power Company Ltd appointed Mr F A Vandrevala (who is currently the Dy Managing Director) as the Managing Director of the company wef September 01, 2002 in the place of Mr A J Engineer who retires as MD on August 31, 2002.
BILT Q4 net up by 29.36%, FY-02 net down by 28.80%
Ballarpur Industries Ltd (BILT) has posted a net profit of Rs 198.70 million for the quarter ended June 30, 2002 as compared to Rs 153.60 million for the quarter ended June 30, 2001. Total Income (Net of excise) has decreased from Rs 3906.40 million in JQ-01 to Rs 3783.40 million in the quarter ended June 30, 2002.
The company has posted a net profit of Rs 714 million for the financial year ended June 30, 2002 as compared to Rs 1002.80 million in the year ended June 30, 2001. Total Income (net of excise) has decreased from Rs 14546 million in FY-01 to Rs 14362.60 million in the year ended June 30, 2002.
The Board of Directors has recommended a dividend of 20% on the equity capital of the company for the year ended June 30, 2002.
The Board has approved a VRS Scheme for the retentive workers at unit Shree Gopal & constitution of a Committee of Directors for evaluating and deciding on the options available to the company in respect of Unit Choudwar.
Aban Loyd Chiles Offshore not to participate in Engineering project bid
Aban Loyd Chiles Offshore Ltd has informed BSE that the Company has decided not to participate in the bidding of disinvestment in Engineering Projects India Ltd.
NIIT enters IDC's Global Top 15 IT education companies listing for 2001
Global IT Corporation, NIIT Ltd, has made it to the prestigious "Top 15 Worldwide Education Providers listing for 2001" instituted by business intelligence major International Data Corporation (IDC) for the second year in a row. The 2001 ranking finds NIIT at the Number 13 position, among global IT leaders IBM, Oracle, SAP, Sun and HP, among others.
NIIT is once again the only Asian Company to be included in this grouping. Amongst independent IT training providers that offer training on a variety of platforms and technologies, NIIT has emerged as the seventh largest in the world.
According to the IDC study, NIIT represents a different kind of IT education provider. "Besides direct customer-facing training offerings, NIIT also provides great services to the rest of the IT industry," the IDC survey stated.
NIIT's inclusion in the Top 15 worldwide IT education providers ranking is also based on its solid reputation for quality and its high potential as a partner. "NIIT has one of the largest course development labs in the world. It uses this capability both for custom development to satisfy enterprise clients and to develop commercial off-the shelf courses for other vendors," IDC's study added.
"NIIT continued to move forward in the learning domain based on our introduction of four new technologies and nine new products last year to cater to the specific needs of different customer segments. The number of new product introductions by NIIT last year was double the number we added in any other year in the past," commented Mr Rajendra S Pawar, NIIT Ltd
Dynacons Systems & Solutions fixes record date for stock split
Dynacons Systems & Solutions Ltd has informed BSE that the Company has taken the approval from the shareholders at the AGM held on August 26, 2002 for splitting of equity shares from Rs 10 each to Rs 2 each. Subsequently the Board of Directors in their meeting have fixed the record date on September 28, 2002 for the split of shares.
Sterlite Optical Tech denies news item
With reference to the news article appearing in a leading financial daily titled 'Sterlite Optical gains on order talk', Sterlite Optical Technologies Ltd has informed BSE that the news item is factually incorrect and erroneous and the Company has not received any order of Rs 1000 million -1250 million from a leading domestic telecom major as purported in the article.
Steelco Gujarat fixes record date for reduction in share capital
BSE has informed the members of the Exchange that Steelco Gujarat Ltd has fixed September 23, 2002 as the record date for the purpose of reduction of share capital of the Company by writing off 9 equity shares out of every 10 equity shares of Rs 10 each held i.e. 90% of the enhanced paid up equity share capital of the company.
There will be no dealings in the aforesaid scrip with effect from September 16, 2002.
Asian Paints executes agreement for purchase of 60% equity capital of SCIB Chem
Asian Paints India Ltd has informed BSE that the Company has executed a Sale and Purchase Agreement relating to the purchase of 60% of the paid up equity share capital of M/s SCIB Chemicals S.A.E., Egypt, at a price not exceeding Rs 245 million, through the Company's wholly owned subsidiary viz., Asian Paints (International) Ltd., Mauritius. The investment is subject to due diligence and requisite approvals of the Reserve Bank of India and such other authorities as may be necessary.
The said investment was approved by the Board of Directors at its meeting held on August 23, 2002.
BSE imposes special margin on FCGL Industries
BSE has informed the members of the exchange that Special Margin of 25% has been imposed on FCGL Industries Ltd with effect from Tuesday.
Special margin will be imposed on the basis of memberwise gross outstanding purchase or sale position (Clientwise net).
Asian Paints enters the Egyptian Paint Market
Asian Paints India Ltd, India's largest paint company on Tuesday announced that it would acquire controlling stake in SCIB Chemical S A E Egypt. The company is month the five largest paint companies in Egypt.
Commenting on the acquisition, Ashwin Dani, Vice Chairman & Managing Director, Asian Paints (India) Ltd mentions "In line with our vision to expand our operations in the emerging markets, the Egyptian paint market was given high priority as it is a stable economy. SCIB Chemical is an excellent vehicle to enter the market, as the Company compliments Asian Paints in its operations and offers numerous opportunities to provide value to the Egyptian consumer". He further added, "Asian Paints has been impressed with the brand equity of the Company as well as the promoters. We feel that there is great opportunity to build on this equity and thus increase market share of the Company in the ensuing years. Our effort will be to provide value added products and services with the entire range of decorative coatings to the consumer."
