Morepen Lab appoints Mamta Suri as Whole Time Director

Morepen Laboratories Ltd has appointed Mrs Mamta Suri as Whole Time Director of the company with immediate effect by the Board of Directors in their meeting held on November 10, 2000.

Aarti Industries to increase holding in Alchemie Organics

Aarti Industries Ltd has informed BSE that the company has proposed to acquire 15,31,000 equity shares of Alchemie Organics Ltd (AOL) being 33.44% of the total paid up capital of AOL held by the other promoters at a prevailing market price but in any case not exceeding Rs 16/- per share. After the proposed acquisition the company's equity holdings in AOL will increase from present 9.19% to 42.63%.

Hindustan Motors to consider sale of division

Hindustan Motors Ltd has informed BSE that a meeting of the Board of Directors of the company has been convened on November 13, 2000 to consider a proposal to restructure business activities of the company by sale of one of the divisions with a view to consolidate and improve the company's performance.

Eveready Industries to obtain shareholders consent for disposal of tea gardens

The Board of Directors of Eveready Industries Ltd has resolved that an Extra Ordinary General Meeting of the members of the company be convened on December 22, 2000 to consider inter alia regarding disposal of some of the tea estates. The company operates 25 Tea Estates out of which 13 are in Assam and 12 are in West Bengal. Prolonged operation over many years and due to changes that have taken place in the surrounding environment some of these tea estates have become un-remunerative compared to the market worth of the estates. The company's tea estates in Darjeeling and Dooars in West Bengal fall into this category. The Board is of the view that in the interest of the company it would be advisable to dispose of these tea estates at the best possible prices that can be fetched. Such disposal will not only enable the company to cut its losses but also will generate surplus which can be used to reduce the debt burden and thus save on interest costs.

Hi-Tech Gears allots bonus shares

Hi-Tech Gears Ltd has informed BSE that in exercise of the powers delegated to the transfer committee by the Board of Directors, the share transfer committee allotted 23,46,000 equity shares of Rs 10/- each (bearing distinctive nos 23,46,001 to 46,92,000) in the share capital of the company in the ratio of one equity shares for every one equity share held as on the record date i.e. October 31, 2000.

Bajaj Auto Ltd completes buy back

Bajaj Auto Ltd has informed BSE that the Company has bought back 1,82,07,304 Equity Shares at a price of Rs.400/- per share from the existing equity shareholders of the Company.

Hindustan Lever denies news item

With reference to news item appearing in a financial daily 'HLL gains on ad report', Hindustan Lever Ltd has informed BSE that the report is entirely speculative in character and neither the Company has taken such a decision nor communicated its intention to do so to anyone.

United Breweries clarifies on news item

With reference to the newsitem appearing in a financial Daily 'UB plans to acquire Mangalore Breweries' United Breweries Ltd has informed BSE that it has not signed any documents in this regard. The company confirms that it has not released any such information to the press.

BSE imposes special margin on 4 scrips

BSE has imposed special margin on the under mentioned scrips with effect from Friday, November 10, 2000. Sr No Scrip Code Company Group Special Margin (%) 1. 5840 Jaipan Industries Ltd B2 25 2. 31369 Wellwin Industries Ltd B2 25 3. 17063 Jetking Electonics Ltd B2 25 4. 233 Kajaria Ceramics Ltd B1 25

XO Infotech in search of a strategic partner

XO Infotech Ltd. has appointed KPMG as its financial consultants to look for a strategic alliance partner. On the finalisation of the deal with the strategic alliance partner, the Company might offer/issue equity of around Rs.50/-million to the strategic partner.

Vysya Bank Q2 net profit at Rs 78.20 million

Vysya Bank Ltd has posted a net profit of Rs 78.20 million for the quarter ended September 30, 2000 as compared to Rs 79.20 million in the corresponding period last fiscal. Total Income for the quarter ended September 30, 2000 is at Rs 2471.90 million as compared to Rs 2282.10 million in the corresponding period last fiscal. Provisions & Contingencies have increased from Rs 117.90 million in SQ 99 to Rs 159.50 million in the quarter ended September 30, 2000.

Hinduja Finance Board approves ESOS

The Board of Hinduja Finance Corporation Ltd has approved, subject to necessary approvals, the Employees Stock Option Scheme for the employees of IT Division of the company.

Vam Organic Q2 net profit up by 26.27%

Vam Organic Chemicals Ltd has posted a net profit of Rs 34.60 million for the quarter ended September 30, 2000 as compared to Rs 27.40 million for the quarter ended September 30, 99. Total Income for the quarter ended September 30, 2000 is at Rs 2212.70 million as compared to Rs 1652.50 million in the corresponding period last fiscal. Figures for the current year are not comparable with those of the previous year, since current year figures includes operation of erstwhile Anichem India Limited (now Fed Additive Division) & of erstwhile Enpro Speciality Chemicals Limited (now V.P.Latex Division), which stand amalgamated with the Company with effect from 22nd October, 1999.

Sagar Cements Q2 net profit up by 30%

Sagar Cements Ltd has posted a net profit of Rs 25.46 million for the quarter ended September 30, 2000 as compared to Rs 19.58 million in the corresponding period last fiscal. Total Income for the quarter ended September 30, 2000 is at Rs 182.50 million as compared to Rs 164.23 million in the corresponding fiscal last year.

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