Abee Info-Consumables Board to consider issue of shares on preferential basis

Abee Info-Consumables Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on July 09, 2002 to consider: 1. The issue of equity shares on preferential basis 2. Fix the date of EGM for approval of matter referred in (1)

Mega Corporation Board approves stock split

The Board of Directors of Mega Corporation Ltd has decided to change the denomination of its equity shares from Rs 10 to Rs 20.

Sterlite Industries FY-02 net at Rs 910.40 million

Sterlite Industries India Ltd has posted a net profit of Rs 910.40 million for FY-02 (nine months period) as compared to Rs 1052.30 million for nine months period ended March 31, 2001.The total income has increased from Rs 21857.80 million for nine months period ended March 31, 2001 to Rs 24982.30 million in FY-02 (nine months period). The Company had earned a net profit of Rs 1279.10 million for the previous year ended June 30, 2001. The total income for the previous year ended June 30, 2001 was at Rs 29185.60 million.

Magan Industries to diversify into Biotech and Pharmaceutical formulations

Magan Industries Ltd is expanding and diversifying its activities in the field of Biotech and Pharmaceutical formulations. In order to facilitate the diversification the company has acquired an Industrial undertaking equipped with modern manufacturing facilities for pharmaceutical products as per the norms of CGMP and WHO with constructed area of about 1 lakh square feet centrally air conditioned near Ahmedabad. The unit has the capacity to manufacture 600 crores tablets, 30 crores capsules, 120 crores bottles of oral liquids, 100 crores injection vials powder ampoules and 100 crores injectable bottles per annum. The annual production of the unit with full utilisation of its installed capacity is estimated at about Rs 8000 million. The company has also entered into an agreement with Saint Shri Mahakalpuri Ayurvadik Trust to manufacture, process and market the herbal and ayurvedic medicine for the treatment of infectious and other incurable disease based on the formulas and the research made and developed by the said trust, necessary permission, approval are being obtained to manufacture and market the herbal and ayurvedic medicines in the near future. To augment the long term finance and facilitate the listing of the Company's shares at NSE, the company proposes to issue further shares subject to the necessary approval of the shareholders at the ensuing AGM.

Vysya Bank Board approves reduction of equity stake to 20% in ING Vysya Life Ins. Co

Vysya Bank Ltd has informed BSE that the Board of Directors at its meeting held today (June 28, 2002) reviewed the Bank's shareholding in the Insurance Joint Venture viz, ING Vysya Life Insurance Company Pvt. Ltd in the light of the current and emerging scenario and decided to reduce its equity stake to 20%.

Opto Circuits Q4 net down by 15.15%, FY-02 net up by 4.97%, declares bonus

Opto Circuits India Ltd has posted a net profit of Rs 34.76 million for the quarter ended March 31, 2002 as compared to Rs 40.97 million for corresponding period last fiscal. The total income has increased from Rs 124.03 million in MQ 2001 to Rs 127.49 million in the quarter ended March 31, 2002. The Company has posted a net profit of Rs 65.71 million for the financial year ended March 31,2002 as compared to Rs 62.60 million for FY-01.The total income has increased from Rs 287.21million in FY-01 to Rs 312.43 million in the year ended March 31, 2002. The Board has recommended 30% Dividend and also issue of one bonus share for every ten fully paid shares, subject to approval of the shareholders in the General Meeting.

Shyam Telecom Q4 net up by 14.03%, FY-02 net down by 41.43%

Shyam Telecom Ltd has posted a net profit of Rs 38.26 million for quarter ended March 31, 2002 as compared to Rs 33.55 million for corresponding period last fiscal. The total income has decreased from Rs 794.28 million in MQ 2001 to Rs 634.52 million in MQ 2002. The Company has posted a net profit of Rs 95.91million for FY-02 as compared to Rs 163.74 million for FY-01.The total income has decreased from Rs 2153.43 million in FY-01 to Rs 2099.57 million in FY-02.

BBL interested in increasing its aggregate shareholding in Vysya Bank to approximately 49%

Bank Brussels Lambert and the Promoter Group (Management Group) through their authorised representatives, have informed Vysya Bank today (June 28, 2002) that the promoter group of the bank have, consequent to the conclusion of their negotiations agreed to sell, and Banque Bruxelles Lambert S A through its wholly owned subsidiary BBL Mauritius Holdings, has agreed to purchase from the promoter group 54,36,235 fully paid up equity shares of the face value of Rs 10 each representing 23.99% of the issued equity share capital of the Bank at an average price of Rs 626.92 per share, subject to approval of the various regulatory authorities including the FIPB and RBI. In a subsequent letter BBL has informed the bank that Banque Bruxelles Lambert is also interested in purchasing at a latter date, further shares comprising approximately 5% of the issued share capital of the bank, either through market transactions or negotiated settlement, with intention to increase its aggregate shareholding to approximately (but not more than) 49% of the issued equity share equity share capital of the Bank, being the present maximum permissible limit for foreign direct investment (FDI) in banking companies under the automatic route. The Board of Directors of the Bank, at its meeting held noted the contents of the aforesaid letters and expressed its support and accorded its no-objection to the proposed transactions.

CDC to invest Rs 500 million in Glenmark Pharma

Glenmark Pharmaceuticals today announced partnering with CDC Capital Partners to raise Rs 500 million in a landmark private equity transaction. Glenmark Pharmaceuticals, one of the fastest growing Indian pharmaceutical player has today given a notice for a board meeting to approve raising Rs 500 million from CDC Financial Services and South Asia Regional Fund, affiliates of CDC Capital Partners of the UK (formerly Commonwealth Development Corporation) in a private equity transaction. In a deal structured by MAPE advisory group, the Company will make a preferential allotment of convertible debentures to CDC that would be compulsorily converted to equity shares based on after-tax profits of the Company for the year ending March 2003. The conversion price would be limited to a maximum of Rs 350 /share and a minimum of Rs 270/ share. On the average the price band works out to premium of 20% based on yesterday's closing price of Rs 258/ share.

VSNL clarifies on news item

With reference to news item regarding Worldcom- MCI Videsh Sanchar Nigam Ltd (VSNL) has informed BSE that it is in constant touch with Worldcom. It is also in touch with lawyers in USA. The company is studying the situation and looking at how much outstanding amount is to be settled between the two sides. VSNL is collating information as to how much traffic Worldcom carries from VSNL. The company further states that it doesn't deny the possibility of Worldcom owing money to VSNL. A clear picture will emerge in a few days time. In the meanwhile the company has received a written communication from Worldcom Executive Vice-President assuring VSNL of cordial and professional relationship. Worldcom believes that it will come out of its current crisis.

Polaris Software appoints new Company Secretary

Polaris Software Lab Ltd has informed BSE that Mr G Rajesh Company Secretary has resigned from the services of the company, and with effect from June 27, 2002 and Mr Anubhav Kapoor an Associate Member of the Institute of Company Secretaries of India has been appointed as the new Company Secretary who will also be the Compliance Officer.

Munoth Hire Purchase Board to recommend Bonus Shares

Munoth Hire Purchase Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 08, 2002 to transact the following: 1. To recommend the issue of bonus shares to the existing shareholders 2. Proposal for sub-division of shares The Board will also consider the approval of the notice of extra ordinary general meeting for the aforesaid matter.

Morepen Laboratories Q4 net down by 30.36%, FY-02 net down by 26.23%

Morepen Laboratories Ltd has posted a net profit of Rs 139.90 million for quarter ended March 31, 2002 as compared to Rs 200.90 million for corresponding period last fiscal. The total income has increased from Rs 1143.90 million in MQ 2001 to Rs 1467.60 million in MQ 2002. The Company has posted a net profit of Rs 540 million for FY-02 as compared to Rs 732 million for FY-01.The total income has increased from Rs 4359.70 million in FY-01 to Rs 5161.30 million in FY-02. The Board has declared a dividend @ 30% on equity shares of the Company for the year ended March 31, 2002 subject to deduction of tax and their approval at the AGM.

Hero Honda fixes Book Closure Date for AGM

Hero Honda Motors Ltd has informed BSE that the Company desires to close its Register of Members and Share Transfer Books for the purpose of payment of final dividend (350%) & Celebrations Dividend (250%) and Annual General Meeting from August 03, 2002 to August 12, 2002 (both days inclusive).

Tata Chemicals fixes Book Closure Date for AGM

Tata Chemicals Ltd has informed BSE that the Register of Members and the Share Transfer Books shall be closed from July 24, 2002 to August 01, 2002 (both days inclusive ) for the purpose of the AGM of the members of the Company to be held on August 01, 2002.

Sun Pharma Board approves issue of Bonus Preference Shares to equity shareholders

Sun Pharmaceuticals Industries Ltd has informed BSE that at the meeting of the Board of Directors of the Company held on today (June 28, 2002) the Board has recommended subject to the approval of the equity shareholders at the General Meeting and such other approvals as may be required the issue of 6% Cumulative Redeemable Preference Bonus Shares of Re 1 /- each to the equity shareholders of the Company in the ratio of 4:1 ie four no of 6% Cumulative Redeemable Bonus preference shares of Re 1 each for every one no of equity shares of Rs 10 each held by the equity shareholders in the Company as on the record date to be fixed by the Board after holding of the AGM of the Company on August 28, 2002 where the resolution for issue of Bonus Preference Shares will be proposed for approval of the members.

United Breweries extends Narayana Raos Directorship tenure

United Breweries Ltd has informed BSE that the services of Mr T S Narayana Rao as a WholeTime Director of the Company has been extended for a further period from June 22, 2002 up to June 30, 2003.

Hero Honda Q1 results on July 08, 2002

Hero Honda Motors Ltd has informed BSE that the Board Meeting of the Company is scheduled to be held on July 08, 2002 to consider the un-audited financial results for the first quarter ended June 30, 2002.

KMFL clarifies on news item

With reference to a news item appearing in a leading financial daily titled "FT to buy KMFL stake in daily?" Kotak Mahindra Finance Ltd has informed BSE that Business Standard Ltd (BSL) at present has a syndication agreement with Financial Times (FT). FT has in the past expressed an interest in taking up an equity stake in BSL subject to Government policies. There are no talks regarding KMFL selling its stake in BSL to FT at present.

Commercial production commences at Gujarat Ambuja Cements Maratha Cement Works plant

Gujarat Ambuja Cements Ltd has informed BSE that its new cement plant of Maratha Cement Works of 2 million tonne capacity at Gadchandur, Maharashtra has commenced commercial production from the month of June 2002.

Naresh Kapoor appointed as Company Secretary & Compliance officer of Information Technologies

Information Technologies India Ltd has informed BSE that Mr Naresh Kapoor was duly appointed the Company Secretary & Compliance Officer of the company wef June 03, 2002 in place of the outgoing Company Secretary & Compliance Officer of the company Mr Rohit Mangla.

GSFC Q4 net profit at Rs 168.4 million, FY-02 net loss at Rs 480.60 million

Gujarat State Fertilizers & Chemicals Ltd has posted a net profit of Rs 168.40 million for quarter ended March 31, 2002 as compared to Rs 437.20 million for corresponding period last fiscal. The total income has decreased from Rs 6648.40 million in MQ 2001 to Rs 5848 million in MQ 2002 The Company has posted a net loss of Rs 480.60 million for FY-02 as compared to a net profit of Rs 60.40 million for FY-01.The total income has decreased from Rs 22126.60 million in FY-01 to Rs 20825 million in FY-02. The profit for the current quarter is after considering an exceptional item representing refund of Rs 287.40 million against recovery made by FICC during previous year. The loss for the current year apart from including the aforesaid refund also includes exceptional item of Rs 99.20 million towards demand raised during the year for additional water charges of earlier years under Joint Water Supply Scheme.

BSES FY-02 net down by 12.64%

BSES Ltd has posted a net profit of Rs 2807.47 million for FY-02 as compared to Rs 3213.73 million for FY-01.The total income has increased from Rs 27784.85 million in FY-01 to Rs 27833.94 million in FY-02. The Board has declared a dividend of Rs 4.30 per share for the year ended March 31, 2002.

IVRCL Infrastructures denies news item

With reference to the news article appearing in a leading financial daily regarding IVRCL receiving huge construction orders, IVRCL Infrastructures & Projects Ltd has informed BSE that the Company has not received any big orders in the recent past. The Company has informed that the news item is ill informative and speculative.

Infosys Tech Q1 results on July 10, 2002

A meeting of the Board of Directors of Infosys Technologies Ltd will be held on July 10, 2002 to consider interalia, 1. The audited financial results of the company as per Indian GAAP for the quarter ended June 30, 2002 2. The unaudited financial results of the company as per US GAAP for the first quarter ended June 30, 2002

Hotel LeelaVenture subsidiary to receive entire blocked sum with interest

Hotel LeelaVenture Ltd has informed BSE that Leela Hotels Ltd., a subsidiary of the Company has received a favourable arbitration award in the matter with Housing and Development Corporation Ltd (HUDCO). In terms of the award, the subsidiary Company is expected to receive the entire blocked sum along with interest.

BSE imposes Special Margin on 2 scrips

BSE has informed members of the exchange that Special Margin in the under mentioned scrip has been imposed as mentioned alongside with effect from today (June 28, 2002). Special margin will be imposed on the basis of memberwise gross outstanding purchase or sale position (Clientwise net). Code Name Group Sp.Mrg PerShare (%)(Purchases) 526729 GOLDIAM INTERNATIONAL LTD. B1 25 522116 TEXTOOL CO. LTD. B2 25.

Adani Exports FY-02 net down by 44.49%

Adani Exports Ltd has posted a net profit of Rs 656.70 million for financial year ended March 31, 2002 as compared to Rs 1183 million for corresponding period last fiscal. The total income has decreased from Rs 30658 million in FY-01 to Rs 28255.50 million in FY-02. The Board of Directors has recommended dividend of 30% for the year 2001-2002. Total Income for FY-01 includes profit of Rs 476 million on account of disinvestment of shares.

Subex shareholders vote to support acquisition cost write-off and Rs 200 million rights issue

At an Extra-Ordinary General Meeting (EGM) held on June 27, 2002 the shareholders of Subex Systems Ltd voted in favour of both the resolutions put forth-write off of the cost expended in acquisition of two software products from Magardi Inc., Canada and related expenses and the issue of rights shares worth Rs 200 million. It is proposed to raise Rs 200 million by offering equity shares to existing shareholders on a rights basis and utilize the amount raised for setting up of overseas offices and enhanced sales and marketing efforts to promote its products globally with the approval of shareholders in the EGM, Subex will now go ahead with the rights issue in order to push its products aggressively.

RayBan Sun Optics Q4 net loss at Rs 0.80 million, FY-02 net profit at Rs 6.88 million

RayBan Sun Optics India Ltd has posted a net loss of Rs 0.80 million for quarter ended March 31, 2002 as compared to a net loss of Rs 7.26 million for corresponding period last fiscal. The total income (net of excise) has decreased from Rs 76.23 million in MQ 2001 to Rs 65.14 million in MQ 2002. The Company has posted a net profit of Rs 6.88 million for FY-02 as compared to a net loss of Rs 92.96 million for FY-01.The total income (net of excise) has decreased from Rs 395.60 million in FY-01 to Rs 253.51 million in FY-02..