Saptarishi Agro Board approves issue of shares to Global Green on preferential basis
Saptarishi Agro Industries Ltd has informed BSE that the Board at its meeting held on July 30, 2002 approved, subject to the approval of the shareholders in the general meeting and such other sanctions and approvals as may be required the Company to issue upto 1,13,50,000 equity shares of Rs 10 each at par aggregating upto Rs 11,35,00,000 to M/s Global Green Company Ltd the holding Company on a preferential basis in lieu of amount of upto Rs 11,35,00,000 lying in books of accounts of the company as "Share Application Deposit"
Basi ceases to be a Chairman of Continental Construction
Continental Construction Ltd has informed BSE that the proposal for removal of Mr M S Basi as Chairman of the Company and Chairman of the Board was considered and approved by the majority of the Directors present in the meeting of the Board of Directors
Sun Beam Infotech fixes Book Closure date for stock split
Sun Beam Infotech Ltd has informed BSE that the Board of Directors of the Company has fixed a book closure on August 23, 2002 to August 25, 2002 for the purpose of sub division/split of Rs 10 shares of the Company into the shares of Rs 2 each fully paid up.
Shree Cements announces change in management structure
Shree Cements Ltd has informed BSE that
Mr B G Bangur, presently Chairman & Managing Director has been re-appointed as Executive Chairman effective August 13, 2002 for a period of five years and
Shri H M Bangur , presently Jt. Managing Director has been re-appointed as Managing Director effective today ie from August 01, 2002 for a period of five years.
Sunil Bhandari designated as Whole Time Director of Isibars
Isibars Ltd has informed BSE that Mr Sunil Bhandari who is presently heading the Khopoli Plant as Sr. Vice President has been appointed as an Additional Director and designated as Whole Time Director for a period of three years w e f August 01, 2002.
Ion Exchange ESOS committee to consider grant of further stock options
Ion Exchange India Ltd has informed BSE that a meeting of the Employee Stock Option Scheme Compensation Committee will be held on August 8, 2002 to consider vesting/exercise of options already granted to Directors and employees of the company.
Isher Judge resigns from Board of SAIL
Steel Authority of India Ltd has informed BSE that Dr Isher Judge Ahluwalia has resigned from the Board of Directors of the Company.
Infotech Enterprises wins a major GIS contract from KPN Telecom
Infotech Enterprises Ltd has been awarded a major long term contract by KPN Telecom, the largest telecommunications company in the Netherlands, to provide spatial data management services. This follows a very successful engagement with KPN in the same area earlier.
Infotech will provide data optimization and conversion services for KPN's Inter-Nodal Network Project.
ABB redeems preference shares
The Board of Directors of Asea Brown Boveri Ltd at its meeting held on July 31, 2002 redeemed 7,50,000 11% Redeemable Preference Shares of Rs 100 each along with the pro rata dividend thereon.
The preference shares had been issued by the company on amalgamation of erstwhile ABB Instrumentation Ltd, with the company and were held by ABB Holdings South Asia Ltd.
Polaris Software fixes book closure for payment of dividend
Polaris Software Lab Ltd has fixed the book closure from September 03, 2002 to September 09, 2002 for the purpose of payment of dividend & Annual General Meeting.
Veronica Lab Board to consider allowing FII Investment upto 49%
Veronica Laboratories Ltd has informed BSE that the meeting of the Board of Directors of the Company will be held on August 09, 2002 to consider allowing FII Investment in the Company upto 49% of the paid up capital.
Birla Vxl announces change in management structure
Birla VXL Ltd has informed BSE that the Board of Directors of the Company at their meeting held on July 30, 2002 have noted the following changes:
Sarvashri D F Patel and V J Pabari have ceased to be the Directors of the Company following withdrawal of their nomination by the Government of Gujarat as its nominee Directors from the Board of Directors of the Company.
Dr V K bhalla, Nominee Director of IDBI on the Board of Directors of the Company has ceased to be a Director of the Company w e f July 31, 2002 following withdrawal of his nomination by IDBI. Dr G Goswami has been nominated in his place by IDBI as its nominee Director on the Board of Directors of the Company from the said date.
Harvic Management Services approves issue of right shares
Harvic Management Services India Ltd has informed BSE that in the meeting of Board of Director held on July 29, 2002 the following business was transacted.
Approved the quarterly unaudited financial results for the three months ended June 30, 2002
Approved list of disclosure of shareholders of promoters pursuant of clause 35 of the listing agreements.
Approved the accounts for the year ended March 31, 2002 & convened the 9th AGM on the September 27, 2002.
And also consider the proposal of issue of rights shares at par in the ratio of 1:2 subject to necessary approvals.
Etp Corporation members approve issue of bonus shares
Etp Corporation Ltd has informed BSE that the shareholders of the Company at their extraordinary general meeting held on August 1, 2002 have approved the following business:
To increase the authorised share capital from Rs 175 million to Rs 350 million
To amend the main object of the memorandum of association of the Company consequent upon increase in capital
To amend the article of association of the Company consequent upon the increase in capital.
To issue the bonus shares at the ratio of 1:1 to the existing shareholders of the Company
To issue the shares to FFI's up to the ceiling of 40% of authorised share capital of the Company.
J M Khanna resigns from Whole time Directorship of Ranbaxy
Ranbaxy Laboratories Ltd has informed that Dr J M Khanna, President-R&D and Wholetime Director of the Company has retired on July 31, 2002.
HFCL Q1 net down by 49.71%
Himachal Futuristic Communications Ltd has posted a net profit of Rs 103.20 million for the quarter ended June 30, 2002 as compared to Rs 205.20 million for the quarter ended June 30, 2001. Total Income (net of excise) has increased from Rs 1642.70 million in the quarter ended June 30, 2001 to Rs 2076.40 million in the quarter ended June 30, 2002.
Wockhardt Heart Hospital is city's first Harvard associate hospital
Wockhardt Hospitals has commissioned a world-class heart hospital in Mumbai to meet to meet the needs of 4.5 million in citizens in the eastern suburbs. Wockhardt Heart Hospital is part of an alliance with Harvard Medical International (HMI) of USA that has provided professional and technical advice to deliver healthcare of global standards. Mr Habil Khorakiwala, Chairman Wockhardt Hospitals said, "Our Vision is to build world-class hospitals in India that will provide professional treatment while addressing the needs of the community. Our alliance with HMI will go a long way in converting this vision into a reality."
Wockhardt Hospitals is part of the Rs 10 billion Wockhardt Group whose flagship Wockhardt is a pharmaceutical major and a front-runner in biotechnology.
Suven Pharmaceuticals Board recommends dividend at 40%
Suven Pharmaceuticals Ltd has informed BSE that the Board in its meeting held on July 29, 2002 recommended dividend @ 40% pa (Rs 4.00 per share) on the paid up capital of the Company for the financial year ended March 31, 2002, subject to deduction of tax at source and also subject to the approval of members in ensuing AGM.
Marico Industries Board approves issue of bonus redeemable preference shares
Marico Industries Ltd has informed BSE that the Board at its meeting held on August 1, 2002 considered and approved inter alia the following:
Issue of bonus redeemable preference shares of aggregate face value of Rs 290 million
Ratio- 1:1 on equity enhanced after bonus issue of equity shares made by the Board on April 18, 2002 and approved by shareholders on July 18, 2002. The rate of dividend is 8% p.a.
Increase in authorised share capital of the Company from Rs 300 million to Rs 600 million.
The above decisions have been taken subject to approval of the members in the general meeting. The extraordinary general meeting of the Company for this purpose has been convened on August 26, 2002.
Indian Rayon approves sale of equity shares in Mangalore Refineries to ONGC
Indian Rayon & Industries Ltd has informed BSE that at a meeting of the Board of Directors of the Company held on Thursday, the company has decided to sell to ONGC Ltd 41012461 equity shares of Mangalore Refineries & Petrochemicals Ltd at a price of Rs 2 per share. The completion of the sale is subject to the satisfaction of certain conditions precedent to be set out in a share purchase agreement, which is intended to be executed shortly.
Grasim Board approves sale of equity shares in Mangalore Refineries to ONGC
Grasim Industries Ltd has informed BSE that at a meeting of the Board of Directors of the Company held on Thursday, the company has decided to sell to ONGC Ltd 150379023 equity shares of Mangalore Refineries & Petrochemicals Ltd at a price of Rs 2/- per share. The completion of the sale is subject to the satisfaction of certain conditions precedent to be set out in a share purchase agreement which is intended to be executed shortly.
Max India Q1 net at Rs 6.70 million
Max India Ltd has posted a net profit of Rs 6.70 million for the quarter ended June 30, 2002 whereas the same is Rs 28.50 million for the quarter ended June 30, 2001. Total Income for the current quarter is at Rs 447.80 million whereas the same is at Rs 388.70 million for the quarter ended June 30, 2001.
The Board also approved the divestment of the entire 40% shareholding of the Company in Avnet Max Ltd in favour of its joint venture partner, Avnet USA for a consideration of US$ 2 million.
The Board of Directors in its meeting held on April 21, 2002 had decided to transfer the Healthcare business into a wholly owned subsidiary. The scheme of transfer was formalised by way of a business transfer agreement entered by the Company with its wholly owned subsidiary Max Healthcare Institute Private Limited. The agreement provides for transfer of business at the close of business hours of the effective transfer date i.e; March 31, 2002 for a consideration amount of Rs 681.00 million and reimbursement of preoperative expenditure Rs 358.70 million. The consideration is to be discharged by issuance of 103779127 fully paid equity shares of Rs 10 each at par value.
Accordingly, the financials for the current quarter excludes the healthcare business operations and hence are not comparable with the corresponding financials for the previous period.
Cholamandalam Investment Board approves issue of cumulative redeemable preference shares
Cholamandalam Investment & Finance Company Ltd has approved an issue of 35,00,000 cumulative redeemable preference shares of Rs 100 each aggregating to Rs 350 million for cash at par on a private placement basis to persons being institutions/banks/bodies coporate/mutual funds/individuals and other agencies, whether incorporated or not.
Arun Kumar appointed as Director & Chairman of Titan Industries
Titan Industries Ltd has informed BSE that the Board at its meeting held on July 31, 2002 appointed Mr Arun Ramanathan, IAS Secretary to the Government of Tamilnadu, Industries Department, as Director and Chairman, nominated by TamilNadu Industrial Development Corporation Ltd (TIDCO) in place of Mr M A Gowrishankar.
Indo Gulf Board approves sale of equity shares in Mangalore Refineries to ONGC
Indo Gulf Corporation Ltd has informed BSE that at a meeting of the Board of Directors of the Company held on Thursday, the company has decided to sell to ONGC Ltd 10066292 equity shares of Mangalore Refineries & Petrochemicals Ltd at a price of Rs 2 per share. The completion of the sale is subject to the satisfaction of certain conditions precedent to be set out in a share purchase agreement which is intended to be executed shortly.
Hindalco Industries Board approves sale of equity shares in Mangalore Refineries to ONGC
Hindalco Industries Ltd has informed BSE that at a meeting of the Board of Directors of the Company held on Thursday, the company has decided to sell to ONGC Ltd 9,56,95,742 equity shares of Mangalore Refineries & Petrochemicals Ltd at a price of Rs 2 per share. The completion of the sale is subject to the satisfaction of certain conditions precedent to be set out in a share purchase agreement which is intended to be executed shortly.
Ind-Swift to launch Breast Cancer drug
Ind-Swift Group intends to launch an anti-cancer drug soon. This is a fastest growing drug and will be used for the treatment of breast cancer. The company intends to file a non-infringing process patent for the drug after the launch. This will be the first drug by the Company in the Oncology segment. The new molecules in this segment are growing at a growth rate of 80-100% whereas the old molecules are de-growing.
Ind-Swift Ltd, has achieved 59% growth in sales to Rs 446.50 million and 55% growth in net profit to Rs 27.10 million for the first quarter ended June 2002.
Commenting on the performance, Mr V K Mehta, Director said, "Our focus on research, introduction of new generation molecules at affordable prices and aggressive market coverage have started paying off. We are confident of sustaining this growth momentum"
The second leg of the company's strategy is to focus on global markets. In the current year, the company has filed patents for two products based on NDDS technologies developed in house by the R&D department. One patent is a Macrolide Anti-biotic and the other is an Anti-histamine drug for Pediatrics use.
SAIL Q1 net loss at Rs 3088.60 million
Steel Authority of India Ltd has posted a net loss of Rs 3088.60 million for the quarter ended June 30, 2002 as compared to a net loss of Rs 3757.20 million in the quarter ended June 30, 2001. Total Income (net of excise) has increased from Rs 28939.2 million in JQ-01 to Rs 38171.8 million in the quarter ended June 30, 2002.
Cholamandalam Investment & Finance Company Ltd has informed BSE that the Board has issued secured redeemable non-convertible debentures and short term redeemable non convertible debentures up to an amount of Rs 2000 million each on private placement basis to mutual funds/institutions/banks/bodies corporate/individuals or other agencies.
Pritish Nandy Comm Board approves issue of equity shares on preferential basis
Pritish Nandy Communications Ltd has informed BSE that the Board approved in principle the issuing of equity shares on preferential basis but decided to consider the issuing of the notice of Extra-ordinary meeting in this connection at a future appropriate date.
SRF Polymers Board to consider buy back
SRF Polymers Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on August 06, 2002 to consider inter alia a proposal for buying back fully paid equity shares of the Company.
Moschip Semiconductor Board allots equity shares and convertible warrants on preferential basis
Moschip Semiconductor Technology Ltd has informed BSE that the Board of Directors of the Company have met on Wednesday and transacted, inter alia the allotment of equity shares and convertible warrants in second tranche as under:
Allotment of 2,12,000 equity shares issued on preferential basis to following:
Mr Padmanabhan Prabhakaran Nair -- 1,62,000
Dr N Mohan Reddy -- 50,000
Allotment of 3,00,000 convertible warrants to APIDC venture Capital Fund 1990 on preferential basis.
The above allotments of equity shares and convertible warrants are made on obtaining the prior approval of shareholders in their EGM held on May 22, 2002
