Ucal Fuel Systems Ltd has posted a net profit of Rs 162.54 million for financial year ended March 31, 2002 as compared to Rs 141.72 million for the corresponding period last fiscal. The total income has increased from Rs 1612.42 million in FY-01 to Rs 1778.35 million in FY-02.
The Board of Directors has recommended a dividend at the rate of 50% (Rs 5 per equity share) for the year 2001-02.
Varun Shipping FY-02 net down by 14.61%
Varun Shipping Company Ltd has posted a net profit of Rs 138.44 million for financial year ended March 31, 2002 as compared to Rs 162.13 million for the corresponding period last fiscal. The total income has increased from Rs 2118.01 million in FY-01 to Rs 2136.54 million in FY-02.
The Directors have proposed a dividend of Rs 1.20 per share (previous year Rs 1.50 per share) on equity shares of Rs 10 each.
Wipro Technologies the global IT services division of Wipro Ltd today (May 14, 2002) announced that Friends Provident, one of the Uks most successful and progressive financial services groups, has selected Wipro's application security product. Wipro WebsecureTM, to protect its e-commerce and web based intranet application.
Friends Provident are deploying WiproWebsecure TM an identity and Permission Infrastructure product across its entire enterprise providing their customers, partners, employees and other stakeholders with a secure environment for accessing personalised knowledge and services.
Wipro assessed Friends Provident's enterprise-wide e-architecture and suggested a comprehensive enterprise security framework. WiproWebsecure with single sign-on and fine grained level access rights, provided complete protection to information.
Hindustan Sanitaryware Board to consider restructuring of the company
Hindustan Sanitaryware & Industries Ltd has informed BSE that the Board at its meeting scheduled to be held on May 18, 2002 would also consider and discuss the restructuring of the Company.
FDC board to consider buyback of shares
FDC Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on May 23, 2002 to consider a proposal to buyback the shares of the Company.
Bihar Caustic FY-02 net profit at Rs 39.29 million
Bihar Caustic & Chemicals Ltd has posted a net profit of Rs 39.29 million for the year ended March 31, 2002 as compared to a net loss of Rs 44.71 million for the year ended March 31, 2001. Total Income for the year ended March 31, 2002 is at Rs 798.25 million as compared to Rs 768.86 million in the year ended March 31, 2001.
Jerry Rao, Chairman-Mphasis BFL, appointed to Nasscom's Executive Council
Mphasis BFL Ltd has informed BSE that Jaithirth (Jerry) Rao, Chairman & CEO, Mphasis BFL has been appointed to the Executive Council of Nasscom with effect from May 01, 2002. The other industry leaders who have joined the Nasscom Executive Council along with Jerry Rao include Nandan Nilekani of Infosys, Rajendra Pawar of NIIT, Deepak Ghaisas of I-Flex and Ganesh Natarajan of Zensar Technologies.
Kiran Karnik, President NASSCOM said, " We are delighted to have Jaithirth Rao as a new member of NASSCOM's Executive Council. Rao's vast experience in international markets and understanding of the IT market will contribute a great deal in realizing NASSCOM's vision to place the Indian IT industry as a strong player in the IT market globally. Rao has been in this industry for the past two decades and we strongly believe his expertise and leadership skills will be of immense value to NASSCOM"
GTL allots shares under ESOP
GTL Ltd has informed BSE that a meeting of the Nomination & Remuneration Committee of the Board of Directors of the Company will be held on May 16, 2002 inter-alia to consider and approve allotment of 47,053 equity shares of Rs 10 each for cash at a premium in terms of the ESOP of the Company upon exercise of right of option for conversion of Warrants, issued under the said scheme into equity shares.
D-Link grants options under ESOP
D-Link India Ltd has informed BSE that ESOP Trust has granted 20,000 options on May 10, 2002 to employees under the D-Link ESOP Plan, in accordance with the decision taken by Compensation Committee of Board of Directors at its meeting held on May 04, 2002.
HDFC Q4 net up 30.99%, FY-02 net up by 22.45%
Housing Development Finance Corporation Ltd has posted a net profit of Rs 2064.50 million for the quarter ended March 31, 2002 as compared to Rs 1576 million in the quarter ended March 31, 2001. Total Income has increased from Rs 6599.10 million in MQ-01 to Rs 7265.40 million in the quarter ended March 31, 2002.
The company has posted a net profit of Rs 5800.10 million for the year ended March 31, 2002 as compared to Rs 4736.50 million in the year ended March 31, 2001. Total Income has increased from Rs 23823.50 million in FY-01 to Rs 27001.50 million in the year ended March 31, 2002.
The Board has recommended a dividend of Rs 25 per equity share -inclusive of a Special Silver Jubilee Dividend of Rs 10 per share for the year ended March 31, 2002.
HDFC's recovery performance has been very good during the year. .
Ranbaxy files IND application in India for an Anti-bacterial Oxazolidinone-RBx 7644
Ranbaxy Laboratories Ltd today (May 14, 2002) the filing of an Investigational New Drug (IND) application of its molecule. RBx 7644 (Ranbezolid), an extended spectrum Oxazolidinone, with the Drugs Controller General of India (DCGI).
World wide, this will be the second anti-bacterial molecule of oxazolidinone class of compounds: but is the first going into clinical investigations with an extended spectrum of activity both in solid and injectable form.
During the last two decades, multiresistant gram positive bacteria have become the dominant cause for hospital infections.
Multicentric studies in every continent attest to the fact that gram positive bacteria are not only more frequently isolated, but are increasingly becoming resistant to the available drugs.
The growing presence of multiresistant strains has led to an increase in infection-related morbidity and mortality besides cost of care.
In view of the pre-clinical results and the predilection of the target bacteria to cause hospital infections, RBx 7644 (Ranbezolid) can be potentially suitable for treatment of hospital acquired infections such as pneumonia, bacteriaemia, post operative wound infection, skin and soft tissue infections, catheter or prosthesis related prophylaxis or infection caused by gram positive bacteria and anaerobic infections caused by gram positive or gram negative bacteria.
This is Ranbaxy's third IND molecule to be filed by its New Drug Discovery Research group.
Abee Info to consider issue of shares on preferential basis
Abee Info-Consumables Ltd has informed BSE that the next meeting of Board of Directors of the Company is scheduled to be held on May 22, 2002 to consider issue of equity shares on preferential basis.
Panatone to accept up to 57 million equity shares of VSNL on pro rata basis
JM Morgan Stanley Ltd has informed BSE that the open offer made by Panatone Finvest Ltd together with other Tata Companies for acquiring upto 57 million equity shares (including shares underlying the ADSs), representing 20% of the paid up share capital of Videsh Sanchar Nigam Ltd (VSNL), at a price of Rs 202 per share, closed on May 09, 2002.
As per the information given by the Registrars to the offer, about 87.6 million equity shares (including shares underlying the ADSs) of VSNL have been tendered under the offer. Panatone will accept upto 57 million equity shares of VSNL under the offer, on a pro rata basis.
High Court at Mumbai sanctions amalgamation of BOI Finance with BOI
Bank of India has informed BSE that the Honorable High Court at Mumbai at the hearing held on April 26, 2002 passed the necessary orders for Amalgamation of BOI Finance Pvt Ltd (100% subsidiary of the Bank) with Bank of India.
Subex Systems allots equity shares on preferential basis to TD Bank
Subex Systems Ltd has informed BSE that the following decisions were taken at the Board meeting held on April 27, 2002
1. Allotment of 2,13,770 equity shares of Rs 10 each at a premium of Rs 90 per share on preferential basis to Toronto Dominion Bank in pursuance of the Special Resolution passed by the shareholders at the EGM held on February 14, 2002.
2. Subject to the approval of shareholders and confirmation by the high court of Karnataka, to write off the value of intangible assets to the extent of Rs 158.957 million acquired by the company in the form of IPRs from Magardi Inc, Canada against share premium account
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