ABB Q1 results on April 24, 2001

A meeting of the Board of Directors of Asea Brown Boveri Ltd has been convened on April 24, 2001 to take on record the unaudited financial results of the company for the first quarter ended March 31, 2001.

Strike at National Flask unit at Silvassa

National Flask Industries Ltd has informed BSE that workers at the company's unit 11 located at Village - Naroli, Silvassa Dadra & Nagar Haveli (U.T.), have gone on illegal strike with effect from April 01, 2001. Management has approached the Labour Commissioner Collector of Dadra & Nagar Harveli & Police department to protect property of the company & labour from new misguided labour dealers and expects that an amicable solution will be arrived in a short period.

Oriental Hotels to transfer its shareholding in Taj Maldives to JV

Oriental Hotels Ltd has informed BSE that the Reserve Bank of India has accorded its approval to a comprehensive restructuring package for Taj Maldives Pvt Ltd and Taj Lanka Hotels Ltd in the form of creation of a new joint venture to be based in Hong Kong. In accordance with the aforesaid approval the company has decided to transfer its shareholding in Taj Maldives Pte Ltd to the joint venture company.

HCL Tech Q3 results on April 19, 2001

A meeting of the Board of Directors of HCL Technologies Ltd is scheduled to be held on April 19, 2001 to take on record the un-audited results of the company for the quarter ended March 31, 2001.

Varun Shipping FY-01 net profit up 81.39%, recommends 15% dividend

Varun Shipping Company Ltd has posted a net profit of Rs 162.13 million for the financial year ended March 31, 2001 as compared to Rs 89.37 million in the previous financial year ended March 31, 00. Total Income for the financial year ended March 31, 2001 is at Rs 2118 million as compared to Rs 1847.59 million in FY 00. The Directors have proposed a dividend of Rs 1.50 per share (previous year Rs 1.40 per share) on equity shares of Rs 10 each amounting to Rs 54.39 million (previous year Rs 50.70 million). The Rights Issue of 36261591-14% Unsecured Fully Convertible Debentures of Rs 10 each for cash at par aggregating Rs 36,26,15,910 to the Equity share holders is open for subscription from March 5, 2001 to April 18, 2001. Present buoyancy in the international freight market, particularly in the high technology LPG carrier segment where Varun has a major share of the Indian owned tonnage has helped the company achieve these results. Even product tanker and bulk carrier freight rates have gone up compared to the previous year.

Gesco Corporation appoints Additional Directors

Gesco Corporation Ltd has informed BSE that at the meeting of the Board of Directors of the Company held on April 4, 2001 the following persons have been appointed as Additional Directors of the Company: 1. Mr. Arun Nanda. 2. Mr. Suvir Ahuja. 3. Mr. Uday Y Phadke. 4. Mr. Anjanikumar Choudhari.

Hindalco Industries FY-01 results on April 25, 2001

Hindalco Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on Wednesday, April 25,2001 at 2.00 PM in Mumbai for consideration of the Final Accounts of the Company for the year ended 31 March, 2001 and also for the recommendation of Dividend for the Financial Year 2000-2001. Since the company will be declaring its Audited Result within two months i.e. before May 31, 2001, from the close of Financial Year i.e. March 31, 2001 the company will not be publishing the Unaudited Financial Result for the Fourth Quarter period ended from January 1, 2001 to March 31, 2001.

Digital Equipment FY-01 results on April 25, 2001

Digital Equipment (India) Ltd has informed BSE that the meeting of the Board of Directors of the Company will be held on April 25, 2001 to approve the Audited Financial Results of the Company for the Fiscal Year ended March 31, 2001, which will be publishing thereafter. In view thereof, the Company will not be publishing its Unaudited Financial Results for the Quarter ended March 31, 2001. Further the company has informed that the Board of Directors will also consider to recommend to the members of the Company the payment of dividend on the Equity Share Capital of the Company for the Fiscal Year ended March 31, 2001.

TTK Prestige announces change in management structure

TTK Prestige Ltd has informed BSE about the following changes in Board Management: Mr T T Jagannathan who has been hitherto holding the position of Chairman & Managing Director has become Executive Chairman effective from April 05, 2001. Mr Jagannathan will focus on innovation and long term strategy. Mr S Ravichandran who has been the Joint Managing Director has been appointed as Managing Director effective April 05, 2001. Mr R Rajagopalachari an independent professional Director has been co-opted on the Board of TTK Prestige Ltd as an Independent Director. He will be Chairman of the Audit Committee. Besides Mr. Rajagopalachari, the Audit Committee will comprise of Mr Ajay I Thakore and Mrs Vandana Walvekar both being Independent Directors.

Atlas Copco Q1 results on April 30, 2001

A meeting of the Board of Directors of Atlas Copco India Ltd will be held on April 30, 2001 to consider and take on record the unaudited financial results for the first quarter ended March 31, 2001.

Smithkline Beecham Consumer Q1 results on April 20, 2001

A meeting of the Board of Directors of Smithkline Beecham Consumer Healthcare Ltd will be held on April 20, 2001 to consider and take on record the unaudited financial results for the first quarter ended March 31, 2001.

Nocil to publish FY-01 audited results by June 30, 2001

National Organic Chemical Industries Ltd has informed BSE that the company will be finalising the annual accounts of the company for the year ended March 31, 2001 and will publish the audited financial results of the company for the aforesaid year before June 30, 2001. As the company will be publishing the audited results within 3 months from the end of the last quarter of the financial year the company will not be publishing the unaudited results for the quarter ended March 31, 2001.

Surana Telecom declares bonus issue in the ratio 3:2

The Board of Directors of Surana Telecom Ltd at its meeting held today (April 9,2001) has decided to recommend issue of bonus shares in the ratio of three shares for every two shares held by the members of the company as on the record date, as may be fixed by the Board of Directors for issue of Bonus Shares.

Aztec Software Q4 net profit up 108.68%, FY 01 net up by 390.26%

Aztec Software & Technology Services Ltd has posted a net profit of Rs 60.10 million for the quarter ended March 31, 2001 as compared to Rs 28.80 million in the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 stood at Rs 248 million as against Rs 79.50 million posted in MQ 2000. The net profit for the year ended March 31, 2001 is at Rs 201.50 million as compared to Rs 41.10 million in the previous financial year. Total Income for the year ended March 31, 2001 is at Rs 799.20 million as against Rs 137.70 million posted in FY 99-00. Sales costs of Rs 112.60 million incurred during the year ended March 31, 2001 represent commission paid to the wholly owned subsidiary for carrying out sales activities on behalf of the company.

Gujarat Gas Q1 results on April 25, 2001

A meeting of Committee of the Board of Directors of Gujarat Gas Company Ltd has been convened on April 25, 2001 to consider the unaudited financial results of the company for the first quarter ended on March 31, 2001.

Online Media to allot equity shares on preferential basis

The Board of Directors of Online Media Solutions Ltd at its meeting held on April 07, 2001 has passed a resolution to allot 21,47,500 equity shares to Mr P V Narasimha Rao and Associates on preferential basis.

Satyam restructures VisionCompass subsidiary, operating costs to reduce by nearly 70%

Satyam Computers Services Ltd has informed BSE that the Board of Directors of Vision Compass, Inc. (Company), the US-based subsidiary of Satyam Computers Services Ltd (Satyam), has taken a decision to restructure the organization based on the completion of the initial phase of development, and considering the prevailing dynamic market conditions. As part of the restructuring, the services of around forty personnel, including Chief Executive, Dr. Robert Bismuth have been terminated. Satyam's Seattle , USA based Vice President, Dr. Sudhakar Varanasi will be holding charge of all executive and administrative responsibilities till the restructuring phase in completed. This exercise is likely to reduce operating costs from the present USD 1.1 M per month to USD 0.35 M per month reflecting a reduction of nearly 70 percent. In order to curtail any further investments in the Subsidiary, Satyam is also evaluating a few proposals from strategic/financial investors. The US subsidiary was responsible for marketing the VisionCompass product to three specific industry segments encompassing, Manufacturing, Supply Chain, Telecommunications, and Professional Services. The product is also being actively marketed to existing Satyam customers. To further increase market penetration, the company has a partnership program with several Value Added Resellers (VARS), including Litton PRC Overseas, Outsights, Phoenix Technologies, and Oasis. VisionCompass has been extensively beta-tested at large global corporations and over 100 leads have been generated from prospective customers. With this thrust the product is expected to generate revenues from this quarter onwards.

Reliance Industries plans to comprehensively restructure its textiles business

Reliance Industries Ltd has informed BSE that it has plans to comprehensively restructure its textile business located at Nakoda near Ahemdabad in the state of Gujarat. The company will focus on its high value added product ranges of men's wear, under the VIMAL brand, and home textiles, under the HARMONY brand. Other textile products will be phased out, and the polyester filament yarn processing business will be relocated around Silvasa. The details of the restructuring plan are: 1 Focus on VIMAL men's wear products i.e. both, blended and worsted suitings at Naroda. 2. Further strengthening of the HARMONY home textiles business. 3. Phasing out of women's wear products i.e. sarees and dress material. 4. Relocation of yarn processing facilities around Silvasa. 5. Continued focus on value added exports-VIMAL is already a leading exporter in suitings. 6. Deeper penetration through nationwide Retail Showroom network, besides existing channel. The restructuring is likely to result in a VRS for 3000 people representing nearly 20% of Reliance Industries total work force of over 15000 through restructuring of a business contributing less than 1% of its total revenues. The restructuring of the textiles business is aimed at strengthening the leadership of the VIMAL and HARMONY brands, enhancing market share, fully securing and protecting the interest of all employees of the textiles business, and substantially enhancing overall shareholder value. Reliance is providing employees a generous VRS (Voluntary Retirement Scheme) package, as well as an option, in certain cases, for alternate employment, depending on their specific skills. The overall package has been arrived at in consultation with the recognised unions, and has been approved by an appropriate order from the Gujarat industrial court. The VRS package to be offered to the employees will comprise of: 1. A generous compensation for every year of continuous service. 2. An Ex-gratia for every year of remaining service upto the age of retirement i.e. 60 years. 3. Gratuity for every year of continuos service. The overall package will have an estimated outlay of nearly Rs 800 millions.

Jaysynth Dyestuff appoints Additional Director

Jaysynth Dyestuff India Ltd has informed BSE that Shri Pankaj Khimji Kothari has been appointed as an Additional Director of the company April 04,2001.

HDFC Bank FY 2000-01 results on April 14, 2001

HDFC Bank Ltd. has informed BSE that the Board of Directors will meet on April 14, 2001 to consider and adopt the Annual Accounts for the year ended March 31, 2001, recommend dividend, consider an increase in the authorised capital and also issue of additional capital.

Odissi Securities acquires 11.77% equity of Arvind Mills

Arvind Mills Ltd has informed BSE that Odissi Securities Ltd has acquired 1,18,32,957 equity shares representing 11.77% of the voting share capital of the company. These shares have been acquired from group companies as mentioned in Regulation 3(1)(e)(i) and persons acting in concert and hence there is no change in total shareholding of all persons acting in concert so the provisions of Regulations 10, 11 and 12 of the SEBI(Substantial Acquisition of Shares and Takeovers) Regulations 1997 do not apply.

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