Mid-day Multimedia Ltd has posted a net profit of Rs 18.50 million for the quarter ended December 31, 2001 as compared to Rs 29 million for the quarter ended December 31, 2000. Total Income for the quarter ended December 31, 2001 is at Rs 238.80 million as compared to Rs 267.50 million in DQ-2000.
NIIT awarded multi-million software management contract by Victorian dept of infrastructure
NIIT Ltd has been awarded a multi-million software maintenance, support and enhancement contract by Victorian Government of Infrastructure.
The significant contract, awarded after a competitive tender process, will be executed over the next three years, and is due to take effect on February 4, 2002.
According to Dr Arvind Shukla, senior vice-president and head of NIIT's software solutions for Asia Pacific and Australasia, the contract marks yet another milestone in NIIT's strategic plans for the Australian market.
"This prestigious contract further strengthens NIIT's presence in Australia, which we consider a crucial part of our overall global vision".
As part of its efforts to assume a leadership role in the Australian IT services industry, NIIT is focussing on e-Business, IT and Knowledge Solutions projects in Governments and corporate sectors.
The Company is also planning to set up a Software Development Center in Australia to synergize the strengths and expertise of partner companies in both local and global markets.
Shree Rama Multi-Tech Q1 net down by 73.50%
Shree Rama Multi-Tech Ltd has posted a net profit of Rs 48.10 million for the quarter ended December 31, 2001 as compared to Rs 121.60 million for the quarter ended December 31, 2000. Total Income has decreased from Rs 551.60 million in DQ 2000 to Rs 480.10 million in the quarter ended December 31, 2001.
UTI Bank announces appointment of new additional directors
UTI Bank Ltd has informed BSE that Shri Paul Fletcher has been appointed as an additional director (Nominee of CDC Financial Service (Mauritius) Ltd) of the Bank, wef January 12, 2002.
The company has also informed that Donald Peck has been appointed as an Additional Director (nominee of South Asia Regional Fund) of the bank wef January 12, 2002
MTNL to seek shareholders approval for amendment in AoA for increase in no of Directors 2
An Extra-Ordinary General Meeting of Mahanagar Telephone Nigam Ltd has been convened on January 31, 2002 to approve amendment in the Articles of Association (AoA) for increasing the maximum of Directors from 12 to 18.
TISCO & KLCL make final open offer to acquire balance stake in Tata SSL at Rs 27 per share
Tata Iron and Steel Company Ltd (TISCO) and Kalimati Investment Company Ltd had in terms of the Letter of Offer dated October 12, 2001 made an open offer to the public shareholders of Tata SSL Ltd (TSSL) to acquire entire shareholding at a price of Rs 27 for every fully paid up Equity Shares and Rs 2 for every partly paid up equity share. Pursuant to the offer, the company acquired 29,51,058 fully paid Equity Shares and 36,095 partly paid-up Equity Shares of TSSL resulting in an increase in shareholding from 83.60 per cent to 92.92 per cent.
Since shareholding of Tata Steel and KLCL exceeds 90 per cent of the voting capital of TSSL, a third and final offer is being made by the them pursuant to and in compliance with Regulation 21 (3) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulation 1997. This cash offer is being made to purchase the outstanding public shareholding to TSSL at a price of Rs 27 for every fully paid up Equity Share and Rs 2 for every partly paid-up Equity Share. The final offer will be open from January 17, 2002 to February 16, 2002 and payment in respect of shares accepted in the offer will be made in cash to the shareholders shortly after the closure of the offer. An option would be provided to the shareholders who due to certain reasons are not in a position to accept the Final Offer with an exit facility at the same offer price for a period of six months from the Final Offer opening date, till July 16, 2002.
TISCO Q3 results on Jan 24, 2002
A meeting of the board of directors of Tata Iron & Steel Company Ltd is scheduled to be held on January 24, 2002 to take on record unaudited results of the company for the quarter ended December 31, 2001.
Narmada Chematur Petro Q3 net up by 24.91%
Narmada Chematur Petrochemicals Ltd has reported a net profit of Rs 72.20 million for the quarter ended December 31, 2001 as compared to Rs 57.80 million for the quarter ended December 31, 2000. Net Sales and Income from Operations is lower at Rs 552.70 million as compared to Rs 719.70 million for the quarter ended December 31, 2000.
Aarti Inds to enter into MoU to obtain license with Raashi Fertilisers
Aarti Industries Ltd has informed BSE that the company has proposed to enter into Memorandum of Understanding to obtain licence to use the whole of the undertaking with all its facilities to manufacture Single Super Phosphate and Granulated SSP located at District Nashik, Maharashtra from 'Raashi Fertilisers Ltd' for a period of six years at a rental of Rs 7.50 million per annum subject to such consents as may be necessary.
Zuari Inds Q3 net down by 73.49%
Zuari Industries Ltd has posted a net profit of Rs 27.90 million for the quarter ended December 31, 2001 as compared to Rs 105.27 million in the quarter ended December 31, 2000. Total Income for the quarter ended December 31, 2001 is at Rs 3096.28 million as against Rs 3294.43 million for the quarter ended December 31, 2000.
Lower profit during the current quarter ended December 31, 2001 is due to the revised methology adopted by the Government of India in fixing FRP while recognising the escalation claims in input costs for Urea.
Chambal Fertilisers Q3 net down by 26.11%
Chambal Fertilisers & Chemicals Ltd has posted a net profit of Rs 377.80 million for the quarter ended December 31, 2001 as compared to Rs 511.30 million for the same period last year. Total Income for the quarter ended December 31, 2001 is at Rs 6076.70 million as against Rs 6027.80 million for the quarter ended December 31, 2000.
In line with the company's strategy of having a global presence in the software business, it has entered into an agreement for acquiring controlling interest in NovaSoft Information Technology Corporation, USA. Towards this, the Company has made part investment of $ 2 million during the current period.
Hughes Software Q3 net down by 21.19%
Hughes Software Ltd has posted a net profit of Rs 145 million for the quarter ended December 31, 2001 as compared to Rs 184 million in the corresponding period last fiscal. Total Income has increased from Rs 589 million in DQ-2000 to Rs 629 million in the quarter ended December 31, 2001.
Future Outlook
Sales for Q4 expected to be in the range of Rs 555 million to Rs 603 million
Sales for FY-02 are expected to be in the range of Rs 2324 million to Rs 2372 million
Digital GlobalSoft Q3 net up by 48.49%
Digital GlobalSoft Ltd has reported a net profit of Rs 246.20 million for the quarter ended December 31, 2001 as compared to Rs 165.80 million for the quarter ended December 31, 2000. Net Sales/Income from operations is up by 65.83%, from Rs 526.30 million in DQ-00 to Rs 872.80 million in DQ-01.
Other Income which represents interest earned by investing the surplus funds available with the Company in short-term deposits is at Rs 25.40 million in the quarter ended December 31, 2001 as compared to Rs 35.20 million in the quarter ended December 31, 2000.
BHEL Q3 results on Jan 28, 2002
A meeting of the board of directors of Bharat Heavy Electricals Ltd is scheduled to be held on January 28, 2002 to consider and take on record the unaudited financial results of the company for the quarter ended December 31, 2001.
SAIL Q3 results on Jan 29, 2002
A meeting of the board of directors of Steel Authority of India Ltd is scheduled to be held on January 29, 2002 to inter alia consider and take on record the unaudited financial results of the company for the quarter and nine months ended December 31, 2001.
Ranbaxy Lab denies reports on proposed ADR issue
With regard to unsubstantiated report that the Company is planning to issue American Depository Receipts (ADRs) to raise capital, Ranbaxy Laboratories Ltd, in a communication issued to the BSE, has informed that the report is completely untrue and baseless and the Company has no plans to raise capital in any form whether ADRs, GDRs or equity shares, etc.
Hindustan Lever FY-01 results on Jan 22, 2002
A meeting of the board of directors of Hindustan Lever Ltd has been convened on January 22, 2002 to consider inter alia, the financial results year ended December 31, 2001. At the aforesaid meeting the Board will also consider recommendation of dividend for the year ended December 31, 2001.
Nirma Q3 results on Jan 31, 2002
A meeting of the board of directors of Nirma Ltd is scheduled to be held on January 31, 2002 interalia to take on record unaudited financial results (provisional) for the third quarter ended on December 31, 2001.
Tata Elxsi Q3 net up by 19.10%
Tata Elxsi Ltd has posted a net profit of Rs 46.51 million for the quarter ended December 31, 2001 as compared to Rs 39.05 million for the quarter ended December 31, 2000. Total Income has declined from Rs 351.75 million in DQ-00 to Rs 273.54 million in the current quarter ended December 31, 2001.
Interest Expenditure has decreased from Rs 7.50 million in DQ-00 to Rs 4.58 million in DQ-01.
Bajaj Auto Q3 net at Rs 1081.70 million
Bajaj Auto Ltd has posted a net profit of Rs 1081.70 million for the quarter ended December 31, 2001 as against Rs 282.10 million for the same period last fiscal. Total Income for the quarter ended December 31, 2001 is at Rs 10280.50 million as compared to Rs 8015.50 million for the quarter ended December 31, 2000.
The total two and three wheeler production and sales for the quarter ended December 31, 2001 was 3,65,876 and 3,63,853 respectively. The corresponding figures for the quarter ended December 31, 2000 were 3,16,035 and 2,87,078.
The Company had announced a Voluntary Retirement Scheme for its employees in response to which 171 employees have opted for the scheme. In line with the accounting policy followed by the Company in the previous year, liability aggregating to Rs 70.50 million to date, in respect of the same will be charged equally over three quarters of the year. Accordingly, a sum of Rs 24.70 million has been charged in the current quarter as Extra-Ordinary Expenditure making the cumulative charge to Rs 47.30 million.
VMC Software Board to call EGM to seek members approval on preferential issue
The board of Directors of VMC Software Ltd, at its meeting held on January 15, 2002 has decided
1. to obtain shareholders permission for preferential issue of share warrants under Section 81(1A) of the Companies Act, 1956.
2. To pass a resolution for obtaining consent shareholders for conferring power to the Board of Directors u/s 293(1)(a) of the Companies Act 1956
3. Extra-Ordinary general meeting of the company will be held on March 26, 2002 for passing the above mentioned two resolutions.
4. Srikrishna Bamidpatti has been appointed as an additional director
5. Dilip R Kanakiya resigned as a director.
6. Vinod G Bapna resigned as a Company Secretary.
Saurashtra Cements Board to consider Q2 results, preferential issue
A meeting of the board of directors of Saurashtra Cement Ltd will be held on January 22, 2002 to consider and approve the unaudited results for the second quarter/half-year ended December 31, 2001.
The aforesaid meeting will also consider the proposal to issue fully paid up 13 per cent optionally convertible cumulative preference shares and 13 per cent loan instruments on preferential basis in conversion of unpaid interest on 18 per cent debentures as on the date of maturity ie. 11.11.2000 and 27.11.2000.
Kumar Mangalam Birla resigns as Director of Birla Global Finance
In a communication issued to the BSE, Birla Global Finance Ltd has informed that Kumar Mangalam Birla, chairman of the company has resigned as director of the company with effect from November.
JaiPrakash Industries fixes record date for interim dividend
JaiPrakash Industries Ltd has fixed February 15, 2002 as the record date for the purpose of interim dividend.
Alps Infosys finalises works contract with MD Voice Files Inc
Alps Infosys Ltd has informed BSE that the Company has finalised the works contract with the company MD Voice Files Inc., U.S.A. for U.S. hospitals and healthcare industry. The venture would generate substantial foreign exchange to the company, as the revenue would be flowing in foreign currency.
Bhoruka Gases employees union on strike
Bhoruka Gases Ltd has informed BSE that, the Employees Union have gone on strike from January 11, 2002. However, the company is making efforts to function normally.
HCL Tech joins Motorola's smart networks alliance in support of next generation of C-Port Network Processors
HCL Technologies Ltd has announced an alliance with Motorola Inc, to provide design services in support of the recently announced C-5e Network Processor (NP) and the Q-5 Traffic Management Coprocessor (TMC). In addition to HCL Technologies, Tality Corporation and Viridien Technologies recently joined Motorola's Smart Networks Alliance to work with equipment vendors on designs incorporating Motorola's C-Port network processor family.
Through this alliance, equipment vendors can gain extensive time-to-market advantages by leveraging HCL Tech's expertise in new design services, be it hardware design, software design or more complete systems design. One such Company, Threshold Networks, is making full use of Motorola's Smart Networks Alliance to build their Secure Bandwidth Mediation Switch, RAZZO, based on C-5 NP V silicon and Motorola host processor technology.
HCL Technologies provides comprehensive R&D outsourcing services to technologies companies worldwide. The Company has a dedicated Network Processor Competency Practice for Component and Equipment Vendors with a focus on engineering (designing or providing engineering services for) complex products and solutions around the next generation network processors, such as the C-5e Network Processor. Empowered by an exclusive "Offsourcing" methodology, 4625 engineers, robust ISO 9001 & SEI CMM Level 4/5 processes, HCL Technologies provides venture backed and established vendors, a compelling and strategic value proposition.
"Threshold Networks is an example of how we can apply specific network processing expertise to a specific design problem," said Raj Sirohi, CEO of HCL Technologies America.
Filatex India members approve issue of equity shares on preferential basis
Filatex India Ltd has informed BSE that at the EGM of the company held on January 14, 2002,shareholders have approved the issue of 1.50 million equity shares of Rs 10 each at par by way of preferential issue to the promoters in terms of the restructuring package approved by IDBI.
BIFR declares Graham Firth Steel as Sick undertaking
Graham Firth Steel Products Ltd has informed BSE that BIFR has registered the company as a sick industrial undertaking as Case No.459/2001.
BSE fixes ex-dividend price for trading in VSNL
BSE has informed the members of the exchange that the base price for dummy circuit filter for trading in the equity shares of Videsh Sanchar Nigam Ltd (VSNL) as on January 16, 2002( the first trading day from which VSNL becomes ex - dividend ) is being changed to Rs 144.40. The base price of Rs 144.40 is arrived at after deducting a dividend of Rs 75 per share from the cum dividend price of Rs 219.40, which is the closing price as on January 15. The base price is being changed due to the high dividend rate of 750 per cent, which amounts to Rs 75 per share.
Hindustan Motors in arrangement with Ford India
Hindustan Motors Ltd has informed BSE that the company has firmed up an arrangement with Ford India Ltd. for supply of Engines and Transmissions to them in a phased manner from its plant at Pithampur.
High Court orders appointment of Prov. Liquidator to manage affairs of Kothari Orient Finance
Kothari Orient Finance Ltd has informed BSE that, Hon'ble High Court at Madras has ordered appointment of Provisional Liquidator and an Administrator in an application made under Sec.433 & 434 of the Companies Act, 1956 to manage the affairs of the company.
BSE revises price bands in accordance with changes in S&P CNX Nifty
BSE has informed members of the exchange that in accordance with changes in S&P CNX Nifty announced by the National Stock Exchange with effect from January 17, 2002, Sun Pharmaceuticals Ltd and Wipro Ltd have been included in the Nifty with HCL Infosystems Ltd and Kochi Refineries Ltd being excluded.
It has been further informed that, as stipulated by SEBI, all securities which are presently having a daily price band of 20 per cent except for scrips forming part of the BSE Sensex or the NSE Nifty or scrips on which derivative products are available, on which price bands of 10 per cent are applicable. Accordingly, with effect from January 17, 2002, the applicable price band for Sun Pharmaceuticals Ltd and Wipro Ltd will be 10 per cent and for HCL Infosystems Ltd and Kochi Refineries Ltd will be 20 per cent.
The members have been cautioned not to enter quotes/orders at unrealistic prices.
EIH Q3 results on Jan 29, 2002
A meeting of the board of directors of EIH Ltd will be held on January 29, 2002 to consider and take on record the Unaudited Financial Results of the Company for the three months ended December 31, 2001.
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