Balaji Telefilms Q4 net at Rs 89.39 million, FY-02 net up by 566.24%

Balaji Telefilms Ltd has posted a net profit of Rs 89.39 million for quarter ended March 31, 2002 as compared to a net loss of Rs 21.05 million for corresponding period last fiscal. The total income has increased from Rs 147.78 million in MQ 2001 to Rs 348.71 million in MQ 2002 The Company has posted a net profit of Rs 290.15 million for FY-02 as compared to Rs 43.55 million for FY-01.The total income has increased from Rs 496.74 million in FY-01 to Rs 1131.09 million in FY-02. The Board has recommended final dividend of 50% (Rs. 5 per share) for the year ended March 31, 2002 (which includes 25% (Rs 2.50 per share) interim dividend declared and paid during the year) on the paid-up equity share capital of the Company, subject to the approval of members at the ensuing annual general meeting of the Company. The figures for the three months ended March 31, 2002 are not comparable with the corresponding quarter of the previous year due to change in the accounting policy wherein entire cost of production of serials in respect of which the Company retains IPRs, was written in the last quarter of the previous year. The Company continues to write off the entire cost of production of serials in the current year.

Balaji Telefilms Board approves enhancement in the limit of FII investment

Balaji Telefilms Ltd has informed BSE that the Board at its meeting held today (May 24, 2002) has approved the enhancement in the limit of FII investment in the Company from the existing limit of 24% of the paid up capital of the Company to 40%, subject to the approval of members of the Company at the ensuing annual general meeting of the Company.

IDBI appoints Salil Kumar as Nominee Director of Andhra Petrochemicals

Andhra Petrochemicals Ltd has informed BSE that Industrial Development Bank of India has appointed Shri Salil Kumar Dutta as a Nominee Director in place of Shri N Biswas, on the Board of the Company, on non-rotational basis, w.e.f. May 8,2002.

Kaashyap Radiant Systems to seek members approval for issue of bonus shares / bonus debentures/ allotment of equity shares to Satnet Services

Kaashyap Radiant Systems Ltd has informed BSE that the Board at its meeting held today (May 24, 2002) decided to convene Extra Ordinary General Meeting of the Company. It has been unanimously decided that EGM will be held on June 28, 2002. The Board discussed and approved the draft notice of that meeting which contained the following special businesses among the other business: 1. Allotment of 1,80,00,000 Equity Shares of Rs 10/- each at the price of Rs 14/- per share (inclusive of premium Rs 4/- per share) to M/s Satnet Services Ltd, for acquiring the Company which is engaged in the business of telephonic, messaging services and developing national & International telecommunication products. 2. To issue bonus shares of 3 (three) Equity shares for every 10(ten) Equity shares held by the shareholders, subject to the provision of all relevant acts. 3. To issue bonus Debentures of one Debenture of Rs 10/- each at par, for 10 Equity shares held by the Shareholders, carrying interest of 6% per annum (debentures will be redeemed within 17 months from the date of issue of the debentures).

R D Thapar resigns from Directorship of Ginni Filaments

Ginni Filaments Ltd has informed BSE that Shri R D Thapar has resigned from the Directorship of the Company with effect from May 3, 2002.

ITC grants options to eligible employees / Non Executive Directors

ITC Ltd has informed BSE that under the Company's Employee Stock Option Scheme, the Compensation Committee of the Board of Directors at its meeting held on May 22, 2002 granted Options to eligible employees of the Company including that of the Company's subsidiary Companies. Further, the Board at its meeting held the same day also granted Options to the Non Executive Directors of the Company.

LIC Housing Finance Q4 net up by 22.36%, FY-02 net up by 21.51%

LIC Housing Finance Ltd has posted a net profit of Rs 576.80 million for quarter ended March 31, 2002 as compared to Rs 471.40 million for corresponding period last fiscal. The total income has increased from Rs 1966.10 million in MQ 2001 to Rs 2312.30 million in MQ 2002 The Company has posted a net profit of Rs 1476.60 million for FY-02 as compared to Rs 1215.20 million for FY-01.The total income has increased from Rs 7455.50 million in FY-01 to Rs 8616.40 million in FY-02. The Board has recommended a dividend of 50% on Equity Shares subject to approval of the members of the Company at the forthcoming Annual General Meeting

P Majumdar ceases to be a Director of EIH Associated Hotels

EIH Associated Hotels Ltd has informed BSE that Mr P Majumdar who was a non-executive Director of the Company died on February 07, 2002.

Silver Smith India explores possibility of Joint Venture in Saudi Arabia & Dubai

Silver Smith India Ltd has informed BSE that Jewellery Designing Technology Institute (JDTI), a division of Silver Smith India Limited is exploring possibilities of Joint Venture in Saudi Arabia & Dubai. The Company is expecting to open Jewellery Designing Institute in Saudi Arabia & Dubai as a Joint Venture with another parties in the respective countries.

Shree Rama Multi-Tech H1 results rescheduled to May 30, 2002

Shree Rama Multi-Tech Ltd has informed BSE that a meeting of the Board of Directors of the Company scheduled to be held on May 24, 2002 for taking on record the audited financial results of the Company for the six months ended on March 31, 2002 is now rescheduled to be held on May 30, 2002.

Mannesmann makes second open offer & subsequent exit option to the equity shareholders of Bosch Rexroth

SMIFS Capital Markets Ltd has informed BSE that consequent upon completion of Open Offer to acquire 13,24,900 fully paid up equity shares of Rs 10/- at a price of Rs 56/- per share of Bosch Rexroth India Ltd (BRIL) by Mannesmann Rexroth AG (Mannesmann), shareholding of Mannesmann has increased to 91.99% of the equity capital of BRIL. Pursuant to Regulation 21(3) of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 {SEBI (SAST) Regulations} and further to the First Offer made to the equity shareholders of BRIL, Mannesmann is making the Second Offer to acquire 424,674 fully paid up equity shares of Rs 10/- each of BRIL at an Offer Price of Rs 56/- per fully paid up equity share payable in cash (the Second Offer), to the remaining shareholders of BRIL, representing 8.01% of the equity share capital of BRIL. The Offer Price is the same as that which was paid for the equity share acquired under the First Offer. The facility to such an exit to the remaining shareholders who, due to certain reasons, are not in a position to accept the Second Offer during that offer period also has to be provided for a period of six months from the opening date of the Second Offer, in terms of Regulation 21(3) of SEBI (SAST) Regulations. The Second Offer opens on June 10, 2002 and closes on July 09, 2002. Subsequent Exit Option is available upto December 09, 2002.

SBI fixes Book Closure for dividend

State Bank of India has informed BSE that the Register of shareholders of the Bank will be closed for transfer of shares for payment of dividend for 2001-02, if any, from July 16, 2002 to July 31, 2002, both days inclusive.

Nava Bharat Ferro Alloys temporarily suspends operations of Machine Building Division

Nava Bharat Ferro Alloys Ltd has informed BSE that the operations of the Machine Building Division of the Company have been suspended on account of dwindling orders consequent to the downtrend in the Engineering Industry. However, the stoppage does not affect the Company's profitability materially in view of the insignificant contribution of this division to the overall turnover of the Company. The Management therefore decided to temporarily suspend the operations.

Shree Rama Multi-Tech H1 results postponed to May 31, 2002

Shree Rama Multi-Tech Ltd has informed BSE that a meeting of the Board of Directors of the Company scheduled to be held on May 24, 2002 for taking on record the audited financial results of the Company for the six months ended on March 31, 2002 is now rescheduled to be held on May 31, 2002.

Clariant India FY-02 net up by 23.16%

Clariant India Ltd has posted a net profit of Rs 200.50 million in financial year ended March 31, 2002 as compared to Rs 162.80 million for corresponding period last fiscal. The total income has increased from Rs 2864.10 million in FY-01 to Rs 3083 million in FY-02. The Board of Directors has recommended a dividend of Rs 7.5(Previous year Rs.6) per equity share subject to approval of shareholders.

Electrolux Kelvinator board approves rights issue

Electrolux Kelvinator Ltd has informed BSE that the Board of Directors at its meeting held today (May 24, 2002) decided the following: 1. Further issue of up to 24,97,18,386 equity shares of the face value of Rs 10 each on a rights basis to existing shareholders of the Company in the ratio of 10 equity shares for every 7 equity shares held, for cash at par ie Rs 10 per equity share to be fully paid. AB Electrolux, Sweden presently holding 75.96 per cent of the equity share capital of the Company, has confirmed its intention of subscribing to its entitlement of the proposed rights issue as well as to any unsubscribed portion of the said issue. 2. To accommodate this rights issue of equity shares, the board of directors of the company has approved and recommended to the shareholders of the Company, for their approval an increase in the authorised share capital of the Company from Rs 2,750 million divided into 22,50,00,000 equity shares of Rs 10 and 50,00,000 10 per cent Cumulative Redeemable Non-Convertible Preference Shares of Rs 100 each to Rs 5,000 million divided into 45,00,00,000 equity shares of Rs 10 each and 50,00,000 10 per cent Cumulative Redeemable Non-Convertible Preference Shares of Rs 100 each.

HCC FY-02 net at Rs 472.49 million

Hindustan Construction Company Ltd has posted a net profit of Rs 472.49 million for financial year ended March 31, 2002 whereas the same stood at Rs 265.35 million for year ended June 30, 2001. The net sales for FY-02 is Rs 3947.59 million whereas the same stood at Rs 4367.74 million in FY-01. Other Income for the current year is at Rs 77.82 million whereas the same stood at Rs 9.13 million in FY-01. Other Income for the current year includes Rs 62.25 million on account of profit on integrated JVs. The Board of Directors have recommended dividend of Rs 3 per share for nine months ending March 31, 2002 which is equivalent to 40% on annualised basis. The figures for the current period are for nine months ended March 31, 2002 due to change in the financial year from July-June to April - March this year and hence not comparable with those for the previous year of twelve months Current years profit is inclusive of an extra-ordinary Income of Rs 199.85 million on account of capital gain on transfer of Development Rights on certain Land & Buildings.

IOCL clarifies on news item

With reference to a news article appearing in a leading financial daily titled 'IOC to divest stake in ONGC, GAIL' Indian Oil Corporation Ltd has informed BSE that the Board has accorded 'in principle' approval to the disposal of IndianOil's holding in ONGC and GAIL subject to the final approval from the Ministry of Petroleum & Natural Gas, GOI.

VSNL announces change in company's directorate

Videsh Sanchar Nigam Ltd has appointed Mr Suresh Krishna on the Board with effect from May 24, 2002 as part-time Independent Director.

MJ Pharmaceuticals Board to take on record BIFRs order sanctioning merger of the Company with Sun Pharma

A meeting of the Board of Directors of MJ Pharmaceuticals Ltd is scheduled to be held on May 27, 2002 to transact the following business: 1. To take on record the order of the Honble Board for Industrial & Financial Reconstruction (BIFR) of the hearing held on May 03, 2002, sanctioning the merger of MJ Pharmaceuticals Ltd with Sun Pharmaceutical Industries Ltd after its restructuring w.e.f. January 01, 2002 as per the Scheme of rehabilitation of MJ Pharmaceuticals Ltd and 2. To approve and take on record the annual accounts/audited annual accounts of the Company for the nine months period from April 01, 2001 to December 31, 2001.