Dynacons Systems announces change in management structure
At the meeting of the Board of Directors of Dynacons Systems & Solutions Ltd held on October 3, 2002 the following decisions were taken.
1. Appointment of Shirish M Anjaria as Chairman Cum Managing Director of the company
2. Resignation of Panjaj H Salot from the post of Director of the company & acceptance of the same by the Board.
3. Board has decided to issue the notice to the shareholders for the payment outstanding towards Allotment Money to be paid by them on or before October 24, 2002 failing which the company will forfeit their shares.
Malathi Mohan appointed as Company Secretary of PNB
Punjab National Bank has informed BSE that Ms. Malathi Mohan, Asstt. General Manager has been nominated as Company Secretary in place of Mr. Ramesh Kumar Kochar. The Board of Directors of PNB has noted the same and accordingly Ms. Malathi Mohan has been designated as Company Secretary and shall act as Compliance Officer henceforth.
Wpil Board approves preferential issue of equity shares
Wpil Ltd has informed BSE that at the meeting of the Board of Directors of the Company held today (October 3, 2002) the Board has passed a resolution approving in principle issue of 35,00,000 equity shares of Rs 10/- each at par payable in cash by way of preferential allotment subject to approval of shareholders of the Company, FIs, Banks and other concerned authorities as may be applicable.
ACC September - 02 cement despatches up by 11.96%
Associated Cement Companies Ltd has informed BSE that Company's production and despatch figures in September, 2002 were as follows: -
Cement Production -- 1.095 million tonnes
Cement Despatches -- 1.105 million tonnes
Cement Production -- 0.983 million tonnes
Cement Despatches -- 0.987 million tonnes
Cumulative production and despatches from April 2002 to September 2002 are
Cement Production -- 6.908 million tonnes
Cement Despatches -- 6.918 million tonnes
Cement Production -- 5.834 million tonnes
Cement Despatches -- 5.829 million tonnes
IPCL transfers novel Xylene manufacturing process to US Company
Indian Petrochemicals Corporation Ltd (IPCL) has successfully transferred a novel process for manufacturing para Xylene: a raw material for polyesters to Houston based GTC Technology Inc. The agreement for this was signed between IPCL and GTC on September 30, 2002. This Toluene methylation process, which uses toluene and methanol as raw materials, is highly selective, energy efficient and environment friendly. The process has a favorable process economics as it selectively upgrades Toluene, commercially less significant byproduct obtained during manufacture of xylenes, to para Xylene. The process produces para Xylene of purity levels of nearly 90% which can easily be converted to high purity para Xylene by single stage crystallization unlike the three-stage crystallization needed for conventional mixture of xylenes, which has around 30% para Xylene. IPCL will earn licensing fees and royalty on sale of catalyst as and when the commercial deployment of this process takes place.
IPCL has a dedicated team of scientists and engineers working on zeolite based processes. This team in past was responsible for developing two commercial technologies, Xylene isomerization and manufacture of para diethyl benzene by selective ethylation of ethyl benezene. Diethyl benzene is commercially important molecule and is extensively used as desorbant in para Xylene separation processes which employs molecular sieves. The new toluene methylation process is third innovation by the group. IPCL has filed patents to cover this process technology both in India and abroad. The catalyst for the first two processes is commercially produced by IPCL at its catalyst manufacturing facility at CATAD, Navi Mumbai. The catalyst manufacturing facility also has capabilities to produce alumina based catalyst as well as molecular sieves.
Dr Reddy's Lab launches foundation for health education
Dr Reddy's Laboratories Ltd, an emerging global pharmaceutical company, today (October 3, 2002) announced the launch of a new social initiative - Dr. Reddy's Foundation for Health Education.
The Foundation's primary objective is to promote health education in the country by creating qualified health-care professionals who would complement and add value to the existing healthcare system, and work with the medical fraternity to offer an integrated multidisciplinary approach to good health.
The Foundation will be launching innovative health education programs to encourage students from myriad backgrounds like nutritionists, dieticians, pharmacists and bioscience graduates to enhance their present skill-sets and develop further expertise to broaden their career options. This would be personally rewarding as well as bring about a positive change in the society.
Commenting on the launch, Dr. Anji Reddy, Chairman, Dr. Reddy's, said, "Dr. Reddy's Foundation for Health Education is a definite attempt to address the rising challenges in healthcare delivery and management. The Foundation would continually engage in a dialogue with the medical fraternity to develop cutting edge curriculum to meet emerging healthcare challenges."
Indian Hume Pipe buy back programme delayed
Indian Hume Pipe Co. Ltd has informed BSE that the SEBI has sought certain clarifications and their approval on the buy back is awaited. Therefore the buy back programme would be delayed for some time. Buy back programme will be commenced after obtaining necessary SEBI approval.
IT Microsystems India incorporates wholly owned subsidiary
IT Microsystems India Ltd has informed BSE that the Company has incorporated a wholly owned subsidiary (WOS) IT Hospitality Inc pursuant to the in principle approval from the authorized dealer-Bank of Maharashtra. Investment in the above WOS is made out of the exchange earner's foreign currency (EEFC) account.
HDFC Bank H1 results on Oct 18, 2002
A meeting of the Board of Directors of HDFC bank Ltd will be held on October 18, 2002 to consider the unaudited financial results for the half year ended September 30, 2002.
Madras Cements Q2 results on Oct 28, 2002
A meeting of the Board of Directors of Madras Cements Ltd will be held on October 28, 2002 to consider the unaudited financial results for the quarter ended September 30, 2002.
IndusInd Bank to seek shareholders approval for scheme of amalgamation
IndusInd Bank Ltd has informed BSE that pursuant to the order of the High Court of Judicature at Bombay an EGM is scheduled to be held on October 31, 2002 to consider and approve, with or without modifications the scheme of amalgamation of IndusInd Enterprises and Finance Ltd with IndusInd Bank Ltd.
Shree Shubhlabh Infoline.Com Ltd has informed BSE that the Board of Directors at its meeting held on September 30, 2002 approved the stock split of equity shares of Rs.10/- to Rs.2/- each.
Pfizer Q3 net up by 4.49%
Pfizer Ltd has posted a net profit of Rs 153.60 million for the quarter ended August 31, 2002 as compared to Rs 147 million for the quarter ended August 31, 2001. The total income (net of excise) has increased from Rs 976.20 million in quarter ended August 31, 2001 to Rs 1076.60 million in quarter ended August 31, 2002.
Tube Investments members approve buyback
Tube Investments Ltd has informed BSE that the special resolution under Sec 77A of the Companies Act 1956, authorising the company to buy back upto 61,55,769 equity shares of Rs 10 each at a price not exceeding Rs 100 per equity share through tender offer has been duly passed with requisite majority through postal ballot.
Pursuant to the above, the company has fixed the buy-back price at Rs 100 per equity share.
Kajaria Ceramics members approves delisting of shares from Delhi & Calcutta Stock Exchange
Kajaria Ceramics Ltd has informed BSE that the shareholders at their meeting held on September 23, 2002 approved the re-appointment of Mr. A.K.Kajaria, Chairman & Managing Director of the Company for a period of 5 years w.e.f.January 01, 2002 and delisting the shares from Delhi and Calcutta Stock Exchanges.
Century Textiles Turbine repaired & reinstalled
Century Textiles & Industries Ltd has informed BSE that the Turbine which had broken down has been repaired & reinstalled and has been put into operation in A shift wef September 30, 2002 and regular paper & pulp production at all three plants has now been normalised wef October 01, 2002. It also appears that the approximate turnover loss due to the break down in turbine & consequent closure of various plants as aforesaid amount to about Rs 250 million for the closure period.
High Court -Mumbai orders Tata Invt. Corp to reallocate a portion of Securities Premium Account
Tata Investment Corporation Ltd has informed BSE that the High Court Mumbai has on September 27, 2002 made an Order confirming the reallocation of a portion of the Securities Premium Account for adjusting future provisions in the value of investments.
Continental Coffee Q2 net up by 255.64%
Continental Coffee Ltd has posted a net profit of Rs 18.95 million for the quarter ended September 30, 2002 as compared to Rs 5.33 million for the quarter ended September 30, 2001. The total income has increased from Rs 101.61 million in SQ-01 to Rs 145.57 million in SQ-02.
Wockhardt brand ranked No 1 new product launch by ORG
Wockhardt Limited has informed BSE that ACNielson ORG MARG has ranked Wockhardt Ltd's Methycobal as the most successful brand launched in the Indian Pharmaceutical industry in the 12 months from September 2001 to August 2002.
Wockhardt is marketing Methycobal (generic name mecobalamine), used in treating debilitating nerve disorders, under an exclusive licence from Eisai, a leading Japanese pharmaceutical company
Hindalco Q2 results on October 23, 2002
Hindalco Industries Ltd has informed BSE that the Board of Directors of the Company would be meeting on October 23, 2002 to consider amongst other items of Agenda the quarterly unaudited financial results of the Company for the quarter ended September 30, 2002.
GDR Media Q2 net at Rs 24.46 million
GDR Media Ltd has posted a net profit of Rs 24.46 million for the quarter ended September 30, 2002 as compared to Rs 0.56 million for the quarter ended September 30, 2001. The total income has increased from Rs 5.65 million in SQ-01 to Rs 56.74 million in SQ-02.
IPCL Q2 results on October 29, 2002
Indian Petrochemicals Corporation Ltd has informed BSE that the Board of Directors of the Company would be meeting on October 29, 2002 to consider the quarterly unaudited financial results of the Company for the quarter ended September 30, 2002.
Ion Exchange allots shares under ESOS
Ion Exchange India Ltd has informed BSE that at the Employees Stock Options Compensation Committee Meeting of the Company held on October 01, 2002, 3,29,000 shares have been allotted to Directors and employees of the Company in respect of options granted to them under the Company's Employees Stock Option Scheme - 2001.
Hughes Software Systems Q2 results on October 11, 2002
A meeting of the Board of Directors of Hughes Software Systems Ltd is scheduled to be held on October 11, 2002 to inter alia consider and take on record the unaudited financial results for the Second Quarter and half year ended September 30, 2002.
Trigyn Tech appoints new Director
Trigyn Technologies Ltd has informed BSE that with a view for providing better strategic direction to and control on the Company's business the Directors at their meeting held on October 01, 2002 have expanded the Board of Directors by appointing Mr Sanjay A Patkar as an Additional Director.
With his high qualifications, rich experience and the varied areas of expertise the Company would certainly benefit through Mr Patkar's meaningful contribution in a professional capacity as an Non-Executive and Independent Director of the Company.
Lupin clarifies on news item
With reference to the news article captioned " Lupin looks beyond US, Forays into Japanese Generics Market" Lupin Ltd has informed BSE that as a part of business, the Company continuously explores opportunities of enhancing its exports to various developed markets, viz. US, Europe, Japan, etc. The Company has further informed that the said article mentions information of general nature and no concrete steps have been taken so far by the Company in this regard.
Non Exercise of option on Warrants issued on preferential basis by Gujarat Ambuja Cements
Gujarat Ambuja Cements Ltd has informed BSE that the Affinity Investments Ltd an Affiliate of Warburg Pincus Equity Partners L.P. were allotted 8 million Warrants, each Warrant convertible into one equity share at a price of Rs 225 per share at the option of the Investor at any time before September 30, 2002.
The Company has further informed that Affinity Investments Ltd has not exercised their option.
Indian Rayon & Ind to seek shareholders approval for scheme of arrangement
Indian Rayon & Industries Ltd has informed BSE that the Hon'ble High Court of Gujarat at Ahmedabad has by an Order made on September 18, 2002 directed that the meeting of the Equity shareholders of the Company be held on October 28, 2002, for considering the arrangement embodied in the Scheme of Arrangement between Indian Rayon and Ind Ltd and Vikram Insulators Pvt. Ltd. and their respective shareholders and creditors.
Earlier the Company had informed that the Board of Directors of the Company had on July 24, 2002 approved a scheme to demerge its insulator Division and to form a separate Joint Venture Company with NGK Insulators Ltd of Japan.
The proposed restructuring will be effected through a court process whereby, the Insulator business will be hived off with effect from August 01, 2002, to a new Company, named 'Vikram Insulators Pvt. Ltd'. Specially created for this purpose against an allotment of 12.49 million equity shares of Rs 10 each at par and the balance in cash/securities approximating to Rs 1250 million (US$ 25 million.)
TGF Media Systems members approve issue of rights shares
TGF Media Systems Ltd has informed BSE that the following resolutions have been passed as special resolution by the shareholders at the EGM held today (October 3, 2002):
Increase in authorised capital from Rs 35 million (35,00,000 equity shares of Rs 10/- each) to Rs 105 million (1,05,00,000 equity shares of Rs 10/- each).
Issue of rights shares (10383000 equity shares of Rs 10/- each) in the ratio of three for every one share held with rights of renunciation and authorising the Board to dispose off the un subscribed portion in such manner as may deem fit etc.
Parke-Davis Q3 net down by 27.03%
Parke-Davis India Ltd has posted a net profit of Rs 35.90 million for the quarter ended August 31, 2002 as compared to Rs 49.20 million in the corresponding period last fiscal. Total Income has increased from Rs 548.20 million in the quarter ended August 31, 2001 to Rs 575.80 million in the quarter ended August 31, 2002.
CRISIL Q2 results on October 11, 2002
A meeting of the Board of Directors of Credit Rating Information Services of India Ltd is proposed to be held on October 11, 2002 to consider the unaudited financial results for the quarter ended September 30, 2002.
Bajaj Auto H1 results on October 23, 2002
Bajaj Auto Ltd has informed BSE that the Board of Directors of the Company will meet on October 23, 2002 to consider, inter alia, the financial results for the half year ended September 30, 2002, subjected to a limited review by the auditors of the Company.
ICRA assigns revised ratings for GSFCs long-term debt & medium term borrowings programme
Gujarat State Fertilizers & Chemicals Ltd has informed BSE that the Rating Committee of ICRA has assigned to the Company the revised ratings viz. "LB" for long-term debt programme and "MB" for medium term borrowings.
Finacle Treasury to power the Infosys Banking Business Unit's thrust into the European Banking Market
Infosys Technologies Ltd., a world leader in consulting and information technology services, announced on October 02, 2002 that treasury and wholesale banking will be a major focus area in European market for its Banking Business Unit. Finacle, the Infosys e-platform for the global banking industry, has recently been augmented with the acquisition of a treasury solution, which is now being marketed under the brand - Finacle Treasury.
Finacle Treasury is an integrated front, middle and back office treasury system that provides full straight through processing (STP) and covers the full breadth of instruments across money markets, foreign exchange, fixed income products and their derivatives. It supports full back office processing capability including General Ledger and extensive middle office features such as limits management, risk and liquidity management, Additionally, it supports continuous 24*7 trading across geographical regions with global replication capability.
Finacle Treasury, based on new generation technologies (OO design, ORB based 3-tier architecture) and offers openness, interoperability and extensibility. Finacle Treasury is optimized for the Sun platform and leverages its powerful capabilities to provide a very high level of scalability.
Finacle Treasury clients include some of the largest top tier banking groups, investment banks and commercial banks in the world with installations in Switzerland, UK, US and Japan. Credit Suisse Group, one of the key clients, has deployed Finacle Treasury across its treasury operations in Europe and US supporting around 500 users worldwide.
Senior Vice President and Head Banking Business Unit, Infosys, Girish Vaidya said, "Infosys is a highly successful and financially viable global company, one of our visions is to be an end-to-end player and global leader in the enterprise banking products space. Finacle Treasury, a recent addition to our Fiancle suite, is a special focus area for Infosys and we are committed to investing in this product to make it a great success and a global leader in its space. We believe that in the current challenging global financial markets, Finacle Treasury with its new generation architecture and comprehensive functionality, backed by Infosys proven end-to-end global delivery capability, offers banks a unique value proposition unmatched in the industry"
BSE imposes Special Margin on Kaashyap Radiant Systems
BSE has informed the members of the exchange that Special Margin of 50% (Sales) has been imposed on Kaashyap Radiant Systems Ltd with effect from today (October 3, 2002.)
Special margin will be imposed on the basis of memberwise gross outstanding purchase or sale position (Clientwise net).
Alembic floats new arm to treat syndrome X
Alembic Ltd has floated a new division called 'SynX' to cater to patients suffering from a condition called Syndrome X. Syndrome X is a term indicating the association of glucose intolerance, dyslipidemia, Hypertension and insulin resistance. These metabolic abornormalities are often associated with insulin resistance.
SynX would have a fortfolio of 8-10 products to begin with.
Alembic is also planning to dedicate a 100 member team for the division. The Rs 5000 million Company expects the division to report a turnover of around Rs 250 million by March 2004. Products that have been brought under this division include nateglinide (Natelide), Pioglitazone (Piolem), Gliclazide (GLZ, GLZ Plus), Glipiside (Glipy), Metformin (Forminal, Forminal SR), Alprazolam (zocam), Vitamins and Minerals (Zivinal CD). The new SynX Division is a part of larger restructuring exercise that has been kicked off within the Company to coincide with the "World Heart Day".
The Company also intends to introduce anti-hypertensives like Ramipril and a combination of Amlodipine and atinolol as well as lipid regulators like Fenofibrate under the new division.