With reference to a news item appearing in a leading financial daily titled " L & T, Siemens in switchgear pact" Siemens Ltd has informed BSE that the Company and L & T have an ongoing cooperation for manufacturing certain low voltage switchgear products for domestic market. This agreement was entered into with a view to optimise the manufacturing capacities in the factories of both the Companies. However, both Companies continue to independently market and sell these products under their own brand names.
The Company has further informed that the above pact has no major impact on the Company's performance ie Turnover or profitability.
Schenectady-Beck India Q4 net down by 24.86% FY-02 net up by 51.50%
Schenectady-Beck India Ltd has posted a net profit of Rs 9.57 million for the quarter ended March 31, 2002 as compared to Rs 12.74 million in the quarter ended March 31, 2001. Total Income (net of excise) has increased from Rs 170.40 million in the quarter ended March 31, 2001 to Rs 187.64 million in the quarter ended March 31, 2002.
The company has posted a net profit of Rs 82.54 million in the year ended March 31, 2002 as compared to Rs 54.48 million in the year ended March 31, 2001. Total Income (net of excise) has increased from Rs 690.57 million in FY-01 to Rs 723.66 million in the year ended March 31, 2002.
The Board has recommended a dividend of Rs 1.70 per share.
Strategic investments in software products and technology dominate 2001-2002 at Ramco Systems
Mardia Steel Ltd has informed BSE that Hon. Gujarat High Court held a hearing on June 19, 2002 to consider winding up of the Company based on the recommendation of BIFR vide its order dated April 23, 2002. BIFR has formed an opinion that the Company is found not to be viable. The Company has further approached AAIFR and filed an appeal against order of BIFR. Hon Gujarat High Court on the other hand has fixed further hearing on July 02, 2002.
Mardia Steel files appeal to AAIFR against BIFR order
Mardia Steel Ltd has informed BSE that Hon. Gujarat High Court held a hearing on June 19, 2002 to consider winding up of the Company based on the recommendation of BIFR vide its order dated April 23, 2002. BIFR has formed an opinion that the Company is found not to be viable. The Company has further approached AAIFR and filed an appeal against order of BIFR. Hon Gujarat High Court on the other hand has fixed further hearing on July 02, 2002.
Pfizer to consider amalgamation of Parke-Davis
At the meeting of the Board of Directors of Pfizer Ltd to be held on June 27, 2002 the Board will consider a proposal for the amalgamation of Parker-Davis India Ltd into Pfizer Ltd pursuant to the scheme of amalgamation under Sec 391 to Sec 394 of the Companies Act 1956. The Scheme shall be placed before the Board of Directors for its consideration. The aforesaid amalgamation shall be subject to the necessary approvals including that of the Board of Directors, the requisite majority of the shareholders of both Pfizer Ltd and Parke-Davis India Ltd and also sanction of the Mumbai High Court.
Parke-Davis to consider amalgamation with Pfizer
At the meeting of the Board of Directors of Parke-Davis India Ltd to be held on June 27, 2002 the Board will consider a proposal for the amalgamation of Parker-Davis India Ltd into Pfizer Ltd pursuant to the scheme of amalgamation under Sec 391 to Sec 394 of the Companies Act 1956. The Scheme shall be placed before the Board of Directors for its consideration. The aforesaid amalgamation shall be subject to the necessary approvals including that of the Board of Directors, the requisite majority of the shareholders of both Pfizer Ltd and Parke-Davis India Ltd and also sanction of the Mumbai High Court.
Balaji Telefilms appoints V Devarajan as Chief Financial Officer
Balaji Telefilms Ltd has informed BSE that the Company has appointed Mr V Devarajan as Chief Financial Officer of the Company.
Kirloskar Brothers declares 45% dividend
The Board of Directors of Kirloskar Brothers Ltd at its meeting held on June 24, 2002 has recommended a dividend of 45% on equity shares for the year ended March 31, 2002.
Mahindra & Mahindra clarifies on news item
With reference to news item appearing in a leading financial daily titled " M&M to acquire US-based Auto Engineering Company" Mahindra & Mahindra Ltd has informed BSE that the Company is exploring possibilities of acquiring substantial holdings in a US based Company for expanding its automotive engineering business abroad.
However the plans are not yet finalised. Besides the Company has not yet taken a decision of spinning off the Engineering Services Business as a separate Company.
Kesoram Industries closes buyback programme
The authority granted by the EGM resolution dated June 22, 2001 elapsed on June 21, 2002 and hence the Committee of Directors of Kesoram Industries Ltd at its meeting held on June 21, 2002 decided to stop the purchase of shares from the market under the buyback programme. The company bought back 64,36,214 shares under this buyback programme.
Goodricke clarifies on news item
With reference to a news item appearing in a leading financial daily, Goodricke Group Ltd has informed BSE that the Company's UK based parents at present do not have any proposal to buy shares as wrongly stated therein.
BSES announces book closure date for AGM
BSES Ltd has informed BSE that the Company has fixed July 23, 2002 to July 26, 2002 as Book Closure Date for the purpose of AGM and to determine the entitlement to dividend.
Bharat Electronics Board to consider dividend on July 02, 2002
Bharat Electronics Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 02, 2002 to consider the accounts for the year ended 2001-02 and for recommending dividend to equity shareholders of the Company. The accounts/dividend recommended at this meeting would be subject to Government Audit.
Sunil S Shah ceases to be a director of Odissi Securities
Odissi Securities Ltd has informed BSE that Sunil S Shah, Director of the Company has passed away and therefore he has ceased to be a Director of the Company w e f June 05, 2002.
Sanwaria Agro to consider bonus issue
A meeting of the Board of Directors of Sanwaria Agro Oils Ltd will be held on July 10, 2002 to consider issue of bonus shares.
BSES postpones FY-02 results to June 28, 2002
BSES Ltd has informed BSE that the meeting of the Board of Directors of the Company to consider and approve the audited financial results of the Company for the year ended March 31, 2002 have been postponed from June 24, 2002 to June 28, 2002.
