Tata SSL Ltd has informed BSE that Mr Ishaat Hussain, Chairman of the Company, proposed to step down as Chairman due to his preoccupations. In the AGM held on July 01, 2002 he was to retire and did not seek reappointment.
The Board of Directors in their meeting held on July 01, 2002 elected Mr B Muthuraman as the Chairman for the future Board & General meetings.
Parry Agro to seek shareholders approval for increase in borrowing power
Parry Agro Industries Ltd has informed BSE that the Board of Directors at their meeting held today (July 4, 2002) has approved the increase in borrowing powers and investment. Accordingly an EGM is convened on July 27, 2002 for seeking the approval of the shareholders.
Lyka Labs lifts lockout at Tarapur undertaking
Lyka Labs Ltd has informed BSE that the Company has decided to lift the lockout at Tarapur undertaking/factory w e f July 04, 2002 in view of the assurance given by the Union and undertaking of the individual workmen about maintaining law, order and peace in the factory and also to work normally and peacefully.
Television Eighteen meeting to consider ESOP postponed
Television Eighteen India Ltd had informed BSE that a meeting of the Board of Directors of the Company scheduled to be held on July 08, 2002 has been postponed due to unavoidable circumstances.
Earlier the Company had informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on July 08, 2002 to consider the following:
1. To consider and approve the Audited Financial Results for the year ended March 31, 2002.
2. To fix up the date of the ninth Annual General Meeting of the Company.
3. To consider the book closures dates for the Annual General Meeting.
4. To consider the introduction and implementation of Employees Stock Option Plan, 2002.
GSFC Q1 results on July 29, 2002
Gujarat State Fertilizers & Chemicals Ltd has informed BSE that the meeting of the Board of Directors of the Company is scheduled to be held on July 29, 2002 for taking on record the unaudited financial results for the quarter ended June 30, 2002.
Maximaa Systems captures orders from M&M, Skoda Auto
After completion of the work of IPCL, Reliance Industries Ltd, Hindustan Lever Ltd, L&T Ltd and BSES Ltd, Maximaa Systems Ltd has captured orders from Mahindra & Mahindra Ltd, and Skoda Auto Ltd, for company's product, Steel Storage Systems.
JBCPL receives permission to market Ofloxacin once day formulations
J B Chemicals & Pharmaceuticals Ltd has received permission from the Drugs Controller General Of India to market Ofloxacin once-daily formulations. The permission granted is for Ofloxacin extended release tablets 400mg & 800 mg.
The Company's R&D has worked for about 2 years over development of New Drug Delivery system formulations. The special technology developed by inhouse R&D and applied to these formulations is titled "Bilayer extended release Technology (BERT)". the first of its kind.
Ofloxacin OD 400/800 mg is designed with an objective of once daily controlled release tablet for oral administration indicated for the treatment of mild to moderate infections caused by microorganisms susceptible to Ofloxacin, a synthetic fluroquinolone broad-spectrum antimicrobial agent.
Gujarat Ambuja Cements announces change in management structure
Gujarat Ambuja Cements Ltd has informed BSE that Mr Rajendra Chitale has been appointed as a Director on the Board of the Company to fill the casual vacancy caused by the resignation of Mr N N Pai.
Bajaj Auto Q1 results on July 27, 2002
Bajaj Auto Ltd has informed BSE that Board of Directors of the Company will meet on July 27, 2002 to consider inter alia the unaudited financial results of the Company for the first quarter ended June 30, 2002.
Siemens Q3 results on July 16, 2002
Siemens Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 16, 2002 to consider inter-alia the unaudited financial results for the third Quarter ended June 30, 2002.
SMR Universal Softech defers buy-back proposal
At the meeting of the Board of Directors of SMR Universal Softech Ltd held on July 03, 2002 it was decided not to buyback the equity shares of the company at this stage as the Board does not find the same feasible.
Mangalam Cement clarifies on news item
With reference to news item appearing in a leading financial daily Mangalam Cement Ltd has informed BSE that the company has been registered as a sick industrial unit and IDBI has been appointed as Operating Agency. The company is examining various options for the revival of the company but nothing has been finalised as yet.
A well known team of one well known international cement company has visited the company's plant with a view to explore the possibility of its association with the company so also an Indian firm has shown interest but nothing has come out so far nor any proposal is received from them.
Atco Healthcare announces change in management structure
tco Healthcare Ltd has informed BSE that the Board of Directors at its meeting held on July 04, 2002 has approved the following:
Two new Directors have been appointed as Additional Directors w e f July 04, 2002
Mr Chirag Gandhi - Independent Director
Mr Omprakash Talreja - Independent Director
Mr Pralhad Kherdekar has been resigned from Directorship wef July 04, 2002
E Merck announces change in management structure
E Merck India Ltd has informed BSE that Mr H G Broetz Managing Director has retired from the services of the company effective June 30, 2002 and Dr Heribert Mauer has joined as Managing Director from July 01, 2002.
It may also be noted that Dr Miachel Becker, Non-Executive Director of the company, has resigned effective June 19, 2002.
Mastek FY-02 results on July 11, 2002
Mastek Ltd has informed BSE that the Board Meeting of the Company will be held on July 11, 2002 to consider and take on record the unaudited estimated financial results for the fourth quarter and the year ended June 30, 2002.
Asian Paints Q1 results on July 15, 2002
Asian Paints India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 15, 2002 to consider inter alia and to take on record the unaudited financial results for the quarter ended June 30, 2002.
Wartsila H1 results on July 23, 2002
Wartsila India Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on July 23, 2002 to consider interalia the unaudited financial results for the second quarter and first half-year ended June 30, 2002.
BPL bags largest export order for Worldspace receivers
BST Ltd (formerly BPL Sanyo Technologies Ltd) a member of the BPL Group has bagged an order for 30,000 units of Digital Satellite Radio receivers commissioned to the Worldspace Corporation for use by the Kenya Institute of Education Project in Kenya. This is the largest single export ever received by an Indian Company for the supply of Digital Satellite Radio Receivers.
After a global search, Washington-USA based Worldspace Corporation shortlisted eight vendors for the manufacture of Digital Satellite Receivers for the world market. BST is the only Indian manufacturer for supply of these items to Worldspace Corporation Under the agreement, Worldspace Corporation will be the content provider through their satellite Asia Star and Afristar while BST will manufacture the hardware.
Speaking about the export order Mr C R Menon Director and COO BST Ltd said, " The 30,000 units being supplied by BST constitutes the initial order being placed by the Government of Kenya on Worldspace Corporation for their massive educational programme. These receivers will significantly assist the teachers working for the Kenya Institute of Education project in uplifting and improving the quality of education in the country".
Fitch re-affirms rating for Bombay Dyeing short-term debt programme
Bombay Dyeing & Manufacturing Company Ltd has informed BSE that Fitch Ratings India Pvt Ltd have re-affirmed the Ind D-1+ rating assigned to the short term debt programme of the company as under:
Up to an amount of Rs 750 million for issue of commercial paper.
Up to an amount of Rs 250 million for issue of short-term instruments other than Commercial Paper.
DSQ Software clarifies on news item
With reference to news item " High Drama at DSQ Software, Directors quit in a huff" appearing in a leading financial daily the company has clarified to BSE that the Board of the company has been reconstituted and the Board comprises of the following Directors.
Dinesh Dalmia
Rajesh Gupta
S G Rajan
The company has clarified that none of the Directors were jittery and quit the Board in a huff as mischievously reported.
The company had obtained approval from the members on January 12, 2002 as required under the Companies Act. Pursuant to the members approval the Company has been making efforts for hiving off of certain unit divisions of the company and no decisions have been taken so far. The said news item is correct.
The company has further stated that there have been no delays in the payment of salaries till date.
Escorts Q1 results on July 12
Escorts Ltd has informed BSE that the unaudited financial results for the first quarter ended June 30, 2002 shall be taken on record by the Board of Directors in its meeting to be held on July 12, 2002.
Godrej Industries revises record date for scheme of arrangement
Godrej Industries Ltd has informed BSE that record date for the scheme of arrangement has been revised to July 26, 2002.
Earlier the Company had informed BSE that the Hon'ble Bombay High Court has approved the scheme of arrangement filed by the Company for purchase and consequent cancellation of its equity shares representing not more than 40% of its paid up capital (ie 24684087 equity shares of the face value of Rs 6/- each).
As required by the scheme the Board of Directors has fixed July 10, 2002 as the Record Date by reference to which the eligibility of the shareholders for the purchase of equity shares pursuant to the scheme shall be determined.
The Company had further informed that it will purchase the shares at a consideration of Rs 18 per share as per the terms of the scheme of arrangement.
Jaiprakash Industries clarifies on news item
With reference to the news article appearing in a leading financial daily regarding a leading foreign cement major to acquire the Cement unit of Jaiprakash Industries Ltd, the Company has informed BSE that it had already hived off its Cement Business to its wholly owned subsidiary w.e.f. April 01, 2001. The Company do not own any cement unit. The Company is unaware of a foreign Cement major looking to acquire the Cement unit.
BSE imposes special margin on 2 scrips
BSE has informed the members of the exchange that Special Margin in the under mentioned scrip has been imposed as mentioned alongside with effect from today (July 4, 2002).
Special margin will be imposed on the basis of memberwise gross outstanding purchase or sale position (Clientwise net) as indicated below:
Code Name Group SP.Mrg Per Share (%)(Purchases)
530773 IVRCL INFRASTRUCTURES & PROJECTS B1 25
526093 SATHAVAHANA ISPAT LTD B2 25
Dr Reddy's announces USFDA approval for Tizanidine HCL tablets
Dr Reddy's Laboratories Ltd announced that the US Food and Drug Administration has issued final approval for the Company's Abbreviated New Drug Application (ANDA) for Tizanidine Hydrochloride tablets 2 mg and 4 mg. The product will be shipped immediately and marketed through the Company's alliance partner, Par Pharmaceuticals.
Tizanidine Hydrochloride is the AB-rated generic equivalent of Elan Corporations' Zanaflex®. Zanaflex® is indicated for the management of increased muscle tone associated with spasticity, a condition affecting the central nervous system ("CNS") causing muscle stiffness and rigidity. As per IMS 2001, the product had annual US brand sales of approximately $ 160 million.
Nicco Corporation nods steel unit selloff
Nicco Corporation Ltd has informed BSE that the Board of Directors at its meeting held on June 28, 2002 approved the following:
1. A proposal to divest, on slump sale basis, the steel division of the Company for a consideration of Rs.100 million, subject to approval of shareholders, financial institutions, debentureholders, consortium of banks etc.
This is expected to reduce both the debt of the Company as also its losses
The Board also discussed a rationalisation proposal involving the shifting of some machinery and workers from their Kalyani plant, manufacturing telephone cables to their Shyamnagar cable plant.
This will help in reducing costs in Kalyani where there has been a sharp fall of demand for Jelly filled telephone cables made in this factory. This shift will also augment capacity for manufacture of Electron Beam Irradiated flexible wires at the Shyamnagar factory where there exists increasing demand.
S&S Power Switchgear management suspends operation at Porur factory
S&S Power Switchgear Ltd has informed BSE that the management has suspended the operation of the Porur Factory from June 22,2002 due to labour unrest and financial constraints.
Alfa Laval -- Highlights 2002
Alfa Laval India Ltd has informed BSE the Highlights pertaining to 2002:
Planned operations and flexible strategies have helped the Company to sustain growth during the first half of the year 2002. The strategy of shifting from product based selling to providing complete process solutions and the restructuring based on market segments is continuing to yield good results as can be seen from the order booking in the first six months of the current year.
With the recent tie up with the leading global player KATZEN International Inc USA for Molecular Sieve Technology, Alfa Laval is now strongly entrenched in the distillery market.
Vegetable oil processing business has been quite rewarding. Palm Oil processing sector is picking up at a fast rate. Rice Bran Oil processing is expected to get a face lift with the Government of India's encouragement for investments in such projects.
Special separators have been developed for Life Science and Biotech Market for sophisticated applications like separation of micro organisms from fermented broth which requires very high G force, stringent sanitary and hygienic features.
Exports Activities
Company is paying special attention to exports. The newer markets are being tapped in Africa, Thailand, Philippines, Indonesia and China.
The principals are planning to use the Indian base extensively for their worldwide requirements. ERP project in the Company will be in operation by the end of the year. This will help in better planning and co ordination of manufacturing processes.
