Ram Gupta appointed as Director of Gordon Woodroffe
Gordon Woodroffe Ltd has informed BSE that the Board of Directors in its meeting held on June 27, 2002 has appointed Mr Ram Gupta, as a Director and designated as Executive Director.
ETP Corporation Board to consider Bonus issue to shareholders
ETP Corporation Ltd has informed BSE that the meeting of the Board of Directors of the Company will be held on July 03, 2002 to consider the following:
To issue the Bonus Shares to the shareholders of the Company
To allot the shares to Foreign Financial Institutions (FFI's) up to a ceiling of 40%
ICICI Bank acquires Shimla and Darjeeling Branches from Standard Chartered Grindlays Bank
ICICI Bank Ltd the country's largest private sector bank today (July 1, 2002) announced that it has acquired two branches located in the popular tourist towns of Shimla and Darjeeling respectively from Standard Chartered Grindlays Bank. The acquisition marks the foray of ICICI Bank in the two towns.
The inclusion of these branches takes ICICI Bank's distribution network to 409 branches and extension counters and 1042 ATMs spread across the country said Chanda Kochhar Executive Director ICICI Bank. " This acquisition is a continuation of our strategy to expand our brand of technology banking across the country."
Escorts FY-02 results rescheduled to July 12, 2002
Escorts Ltd has informed BSE that for want of quorum the Board Meeting could not be held on June 29, 2002 for approving the audited financial results for the financial year ended March 31, 2002. The said meeting has been adjourned and rescheduled to be held on July 12, 2002.
Oriental Hotels board takes on record Madras high court orders sanctioning scheme of amalgamation
Oriental Hotels Ltd has informed BSE that the Company has received copies of Orders of the Hon'ble High Court of Judicature at Madras sanctioning the schemes of amalgamation of Covelong Beach Hotel India Ltd and Cormandel Hotels Ltd with the Company. The said Orders were taken on record by the Board of Directors of the Company on June 28, 2002. Thereafter as per the Order of the Hon'ble Court, the same were filed with the ROC.
As per the 'Schemes' of amalgamation, the appointed date was April 01, 2001 and the Effective Date was June 28, 2002 being the date on which the Certified copy of the Order of the Hon'ble High Court were filed with the Registrar of Companies, Tamil Nadu.
Oriental Hotels board takes on record Madras high court orders sanctioning scheme of amalgamation
Maximaa Systems Ltd has informed BSE that work of steel Sorage Systems at M/s Asian Paints India Ltd. Ankleshwar, M/s Intas Pharmaceuticals Ltd, Ahmedabad and M/s Bilag Industries Ltd Vapi, the associate Company of M/s Hindustan Inks & Resins Ltd. With increased steel prices Company is expecting good orders.
Wipro Ltd Q1 results on July 19, 2002
Wipro Ltd has informed BSE that the next meeting of the Board of Directors to consider anad approve, inter alia, the audited accounts for the first quarter ended June 30, 2002 would be held over two days ie on July 18, 2002 and July 19, 2002. However the audited accounts would be finally approved by the Board of Directors only on July 19, 2002.
BPCL announces change in management structure
Bharat Petroleum Corporation Ltd has informed BSE that Mr U Sundararajan has retired from the office of the Chairman & Managing Director, BPCL on June 30, 2002 on attaining the age of superannuation.
R S Behuria, Director (Marketing) has taken over as Chairman & Managing Director of BPCL w e f July 01, 2002.
Dhankumar T Javeri ceases to be a Chairman of Sadhana Nitro
Sadhana Nitro Chem Ltd has informed BSE that their Chairman Dhankumar T. Javeri passed away on June 27, 2002.
Search Chem Industries recommissions power plant
Search Chem Industries Ltd has informed BSE that the power plant has been recommissioned on natural gas and the same is in operation.
Earlier the Company had informed that the power plant has been repaired and the Company expects to recommission the power plant by June 2002 on natural gas.
Ranbaxy H1 results on July 18, 2002
Ranbaxy Laboratories Ltd has informed BSE that a meeting of the Board of Directors of the Company has been convened on July 18, 2002 inter-alia to take on record the unaudited financial results (provisional) for the second quarter and half year ended June 30, 2002.
TV-18 Board to consider introduction & implementation of ESOP
A meeting of the Board of Directors of Television Eighteen India Ltd is scheduled to be held on July 08, 2002 to consider the following:
1. To consider and approve the Audited Financial Results for the year ended March 31, 2002.
2. To fix up the date of the 9th Annual General Meeting of the Company.
3. To consider the book closures dates for the Annual General Meeting.
4. To consider the introduction and implementation of Employees Stock Option Plan, 2002.
Subex to launch INcharge™ Inter-carrier Billing Verification System in Lisbon, Portugal
Subex Systems Ltd has informed BSE that it would launch its inter-carrier billing verification system, Incharge™ at the IIR conference, 'Optimizing end-to-end revenue assurance strategies' to be held from July 08 to 10 in Lisbon, Portugal. Incharge™ a part of Subex's revenue maximization suite, RevMax™ was showcased earlier at the 3GSM world congress in Cannes, France in February 2002
With substantial increase in global inter-carrier traffic, carriers are finding an increasing proportion of their revenues tied to a large number of complex short duration, inter-carrier agreements that are renegotiated continuously. The fees charged by carriers for the transfer of data amongst themselves account for roughly half of a carrier's operating costs and as such provided an important source of revenue.
While long-established carrier access billing guidelines and systems in place have been reasonably effective for traditional carriers, downsizing, mergers and acquisitions and other realignments have made accounting difficult for many carriers in the present environment. Further, older service order and billing mechanisms have not kept pace with the speed of deployment of new services.
This has left the carrier with plenty of room for significant revenue leakage and so makes it imperative to find a reliable solution to correctly verify and maximize revenue from inter-carrier traffic. Subex Systems Incharge™ inter carrier billing verification system supports a carriers increasing number of products, inter-connect partners and traffic volumes and helps the carrier plug this revenue leakage and enhance profitability.
Ishaat Hussain, K A Chaukar appointed as additional directors of VSNL
Videsh Sanchar Nigam Ltd has informed BSE that Mr Ishaat Hussain and Mr K A Chaukar have been appointed as Additional Directors on the Board of VSNL w e f July 01, 2002.
VSNL fixes book closure date for dividend
Videsh Sanchar Nigam Ltd has informed BSE that the Register of Transfers and Register of members of the Company shall remain closed from August 01, 2002 to August 20, 2002 (both days inclusive) for the purpose of final dividend for the year 2001-02.
Dividend on equity shares as recommended by the Directors for the year ended March 31, 2002 when declared by the members at the AGM will be paid:
To those members whose names appear on the Register of Members of the Company, after giving effect to all valid share transfers in physical form lodged on or before July 31, 2002.
HPCL clarifies on news item
With reference to the news article appearing in a leading financial daily "HPCL to invest over Rs 700 cr in refinery" Hindustan Petroleum Corporation Ltd has informed BSE that preliminary steps relating to setting up of a Grass root refinery at Punjab are being undertaken by its subsidiary Company Guru Gobind Singh Refineries Ltd (GGSRL). Land for the project has been acquired and so far a sum of approx Rs 2300 million has been spent on the project.
Bhoruka Gases announces change in management structure
Bhoruka Gases Ltd has informed BSE the following changes in Directorship of the Company:
1. Ms Uma Agarwal, a Whole Time Director of the Company has resigned from the Board w e f June 24, 2002
2. Mr M Srivastava has been appointed as an Executive Director of the Company w e f June 26, 2002
3. Mr K Gururaj, the Managing Director of the Company has submitted his resignation and will be laying down his office on December 31, 2002.
A R Menon appointed as Executive Director of Giddings & Lewis
Giddings & Lewis India Ltd has informed BSE that at the Board Meeting held on June 27, 2002 the Board of Directors have appointed Mr A R Menon as Executive Director of the Company w e f June 27, 2002 for a period of three years subject to approval of the shareholders at their general meeting.
S D Kulkarni quits Jyoti Structures board
Jyoti Structures Ltd has informed BSE that Mr S D Kulkarni, a Director of the Company has resigned from the Board of the Company, effective from June 24, 2002 on personal grounds.
GlaxoSmithKline Pharmaceuticals subsidiary closes its establishments at Goregoan factory
GlaxoSmithKline Pharmaceuticals Ltd has informed BSE that Biddle Sawyer Ltd, a wholly owned subsidiary of the Company have closed their establishments at the factory located at Goregoan, office at Colaba and the godown at Carnac Bunder w e f June 30, 2002.
Bata India clarifies on news item
With reference to news item appearing in a leading financial daily Bata India Ltd has given some clarifications.
The new companies taking over the Faridabad and Mokamehghat units are:
Fashion Shoe Private Ltd
BDCL Enterprises Pvt Ltd
The assets & liabilities of both the above units will be transferred to these companies and shares will be offered in the agreed ratio to the existing shareholders of Bata India Ltd on a record date to be fixed by the Hon'ble High Court at Calcutta. The news report that 51% shares will be held by Bata India Ltd and the balance 49% by Mr Rajesh Poddar is therefore incorrect.
Hinduja TMT clarifies on news item
With reference to a news item appearing in a leading financial daily titled "Hinduja TMT up on BPO order" Hinduja TMT Ltd has informed BSE that the Company has been talking to various parties as a part of its business development exercise. It has not received any final order from a party in UAE as suggested in the news item.
Samtel India members approve hive off of the company's deflection yoke division
Samtel India Ltd has informed BSE that the shareholders of the Company have approved by way of postal ballot, the sale of Deflection Yoke Division to Samtel Color Ltd.
Aurobindo Pharma FY-02 net profit up by 0.29%
Aurobindo Pharma Ltd has posted a net profit of Rs 685.1 million for the year ended March 31, 2002 as compared to Rs 683.10 million in the year ended March 31, 2001. Total Income has increased from Rs 10077.5 million in the year ended March 31, 2001 to Rs 10524 million in the year ended March 31, 2002.
During the year the company has earned an extra ordinary income Rs 100 million from sale of brands to a JV.
Directors recommend a dividend of Rs 3.00 per each share subject to approval of shareholders.
Jaiprakash Industries FY-02 result reserves
Jaiprakash Industries Ltd had given the Reserves excluding revaluation reserves as Rs 8833.10 million in the results for the financial year ended March 31, 2002.
The company has now said that the figure should be read as Rs 8333.10 million.
Vital Communications Board to consider allotment of shares on preferential /rights basis
Vital Communications Ltd has informed BSE that the Board Meeting is scheduled to be held on July 05, 2002 to consider the following agenda:
To allot upto Ten million Equity Shares of the Company on preferential basis under SWAP arrangement to different entities
To allot upto five million equity shares to the promoters of the Company on preferential basis. (The Board in one of the earlier meetings have already approved allotting upto 2 million shares to promoters)
To offer Ten million Equity shares of the Company to the shareholders on rights basis.
To increase the authorised capital of the Company from Rs 110 million to Rs 360 million.
Nilkamal Plastics Q4 net at Rs 37.59 million, FY-02 net up by 50.35%
Nilkamal Plastics Ltd has posted a net profit of Rs 37.59 million for quarter ended March 31, 2002 as compared to a net loss of Rs 26.38 million for corresponding period last fiscal. The total income has increased from Rs 638.29 million in MQ 2001 to Rs 719.35 million in MQ 2002
The Company has posted a net profit of Rs 97.50 million for FY-02 as compared to Rs 64.84 million for FY-01.The total income has increased from Rs 2440.69 million in FY-01 to Rs 2482.26 million in FY-02.
The Board of Directors have recommended a dividend at 18% subject to approval of the AGM.
Production commences at Grasim Industries staple fibre plant in Nagda
Grasim Industries Ltd has informed BSE that with the onset of monsoon and rains in Nagda area its Staple Fibre Plant in Nagda has commenced production from June 28, 2002. The plant is expected to reach full capacity utilisation in next 3 to 4 days time.
Earlier the Company had informed that due to water shortage at Nagda, the Company has stopped production at its staple Fibre Plant located there.
Geodesic clarifies on news item
With reference to a news item appearing in a leading financial daily quoted "Geodesic Info surges as it seals a deals with US co." Geodesic Information Systems Ltd has informed BSE that the Company has signed agreements to provide their messaging solution "Mundu", with Indiatimes and Rivercode. The agreement with Rivercode is based on a varying price structure and depends on number of users. The Company has signed "Non Disclosure Agreements" with organizations and the Company will reveal details at an appropriate time. However at this point of time the Company denies inking any deal with a large scientific organisations.
