ICICI Bank members approve hike in foreign holdings to 49%

ICICI Bank Ltd has informed BSE that at the Annual General Meeting of the Bank held today (June 11, 2001) the shareholders have permitted, subject to the approval of the Central Government, RBI and such other regulatory authorities, foreign financial institutions (FIIs), overseas corporate bodies (OCBs), non resident Indians (NRIs) etc all taken together, to acquire and hold equity shares of the Bank up to an aggregate limit of 49 per cent of the paid up equity share capital of the Bank or up to such other limit as may be permitted by applicable laws, rules and regulations from time to time. Further, the Bank would be applying to the Reserve Bank of India to approve this higher limit of 49 per cent for holdings by FIIs, OCBs, NRIs, etc. Currently, FIIs, OCBs and NRIs hold 20.82 per cent of the paid up capital of the Bank. American Depositary Shareholders hold 14.39 per cent of the paid up equity share capital of the Bank. The members have also approved all the items of business as enumerated in the Notice dated April 26 2001 convening the meeting. The Members have adopted the audited Profit and Loss Account for the financial year ended March 31,2001,the Balance Sheet and the Cash Flow Statement as at March 31,2001 together with the reports of the Statutory Auditors thereon and the Board of Directors. A dividend of Rs 2.00 per equity share (20 per cent) has been declared on 22,03,58,680 equity shares of the bank for the Financial year ended March 31,2001 including 2,35,39,800 shares allocated to shareholders of erstwhile Bank of Madura Limited who would be entitled for the full years dividend in terms of the provisions contained in the Scheme of Amalgamation. Smt Chanda D Kochhar and Dr Nachiket Mor were appointed ad Executive Directors on whole time and non retiring basis for a period of five years. Smt Lalita D Gupte and Shri B.V Bhargava Directors retired by rotation at the AGM and were re appointed as Directors by the Members. The Banks Board now comprises of 10 Directors. The Bank's MoA has been amended by the addition of the sub-clause permitting the Bank to open, establish, maintain and operate currency chests and small coin depots. The Bank's AoA has also been amended by addition to a sub-article to the effect that the acquisition of shares by a person/group in the aggregate of his/her/its holding to a level of 5 per cent or more of the issued capital of the Bank should be effected by the buyer(s) after obtaining the approval of the Reserve Bank of India. The onus of obtaining the prior approval would rest with the buyer.

Indian Toners FY-01 net up by 36.60%

Indian Toners & Developers Ltd has posted a net profit of Rs 28.09 million for the year ended March 31, 2001 as compared to Rs 20.56 million last fiscal. Total Income for the year ended March 31, 2001 is at Rs 279.09 million as compared to Rs 256.95 million in the year ended March 31, 2000.

Cummins India FY-01 PAT up by 16.74%

Cummins India Ltd has posted a net profit after tax of Rs 1089.30 million for the year ended March 31, 2001 as against Rs 933.08 million for the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 8829.39 million as compared to Rs 8468.98 million for FY-00. Prior Period items amounting to Rs 88.24 million being the effect of restatement of opening inventories consequent to change in basis of valuation of inventories have been considered in FY-00 after consideration of which the net profit for the previous year comes to Rs 1021.32 million as compared to Rs 1089.30 million for the current year. The Interest expenditure has fallen from Rs 34.29 million in FY-00 to Rs 19.17 million in FY-01. The Board of Directors of the Company has recommended a Dividend of Rs 1.30 per equity share of Rs 2 each (65%) for the year 2000-01.

JJ Exporters announces 1:2 Bonus, 40% Dividend

The Board of Directors of J.J. Exporters Ltd at its meeting held today (June 11, 2001) has recommended the issue of Bonus Shares in the ratio of one Bonus share for every 2 shares held subject to the approval of the shareholders. The Board has also recommended a Dividend of Rs 4 per share subject to the approval of the shareholders.

Silverline completes integration of Sera Nova Australia

Silverline Technologies Ltd has announced today (June 11, 2001) that, as part of the global integration of SeraNova into Silverline, Sera Nova's Australian subsidiary SeraNova Australia Pty Ltd is changing its name to Silverline Technologies Pty Ltd. Silverline Technologies finalised the acquisition of US-based SeraNova on March 06, 2001. At the same time, the Company announced the appointment of Tadek Gawor as General Manager for Silverline's Asia Pacific region. In this role, he will be responsible for the profitable growth of Silverline's business in the region, which includes Australia, Indonesia, Malaysia, New Zealand, the Philippines and Singapore. "At a time when many IT services firms are leaving the region, Silverline remains committed to a long term presence in the Australian and South East Asian markets,"said Gawor. "We feel that our global development model with our regional development center in Sydney and offshore centers in India and Egypt gives Silverline the flexibility to deliver high quality services to our clients while maintaining profitability." Gawor previously held a program management role in the initial global start-up and growth of SeraNova, Inc. Prior to SeraNova, he held senior management consulting and program management positions in the Asia Pacific region, with Azimuth Consulting and Ernst & Young. He holds a Bachelor of Engineering Degree (with First Class Honours) from New Zealand's Auckland University. He is a Member of the Institute of Professional Engineers and a Registered Engineer in New Zealand.

Registrar approves name change of Hinduja Finance Corporation

Hinduja Finance Corporation Ltd has informed the BSE that the Registrar of Companies, Maharashtra has approved the change of name of the Company to Hinduja TMT Ltd with effect from June 08, 2001.

Gulf Oil FY-01 net down by 90.23%

Gulf Oil India Ltd has posted a net profit of Rs 12.37 million for the year ended March 31, 2001 as compared to Rs 126.57 million last fiscal. Total Income for the year ended March 31, 2001 is at Rs 2267.85 million as compared to Rs 2461.89 million for the previous year ended March 31, 2000. The Board of Directors of the Company has recommended a Dividend of Rs 1.50 per equity shares of Rs 10 each, subject to the approval of the shareholders (previous year Rs 4 per equity share) The Company has reported that the demand recession and the steep increase in imported raw material costs have adversely affected the profitability during the current year.

BPL clarifies on news article

With reference to a news article appeared in a leading financial daily titled "BPL eyes big-bang merger to become largest cellular cell co" BPL Ltd, in a communication to the BSE has stated that the said report related to Companies engaged in the cellular business of the Group, in which BPL Ltd has no investments.

Aro granite Industries FY-01 net up by 3.85%

Aro granite Industries Ltd has posted a net profit of Rs 40.64 million for the year ended March 31, 2001 as compared to Rs 39.13 million for the previous year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 247.33 million as against Rs 214.67 million for the previous year ended March 31, 2000.

Infosys Board allocates shares under Stock Options Scheme

The Board of Directors of Infosys Technologies Ltd, today (June 11, 2001) has allocated to employees who joined the Company between May 08, 2001 to June 04, 2001 on a sign-on basis and regular basis, an aggregate of 26,800 stock options exercisable for equity shares of par value Rs 5 per share pursuant to the Company's 1999 Option Plan and an aggregate of 40,700 ADS linked stock options exercisable for ADSs pursuant to the Company's 1998 option plan.

ICRA assigns/reaffirms Transport Corporation's programme rating

Transport Corporation of India Ltd has informed BSE that ICRA Ltd has recently assigned/reaffirmed the following ratings to the Company: Particulars Rating Remarks 1. Rs 100 million Commercial Paper Programme A1 New Rating assigned 2. Rs 100 million NCDs Programme LA New Rating assigned 3. Rs 63.60 million NCDs Programme LA Reaffirmed the existing rating 4. Fixed Deposit Programme MA+ Reaffirmed the existing rating

Pentamedia Graphics clarifies on news item

With reference to the news article appearing in a leading financial daily titled "Film Roman starts arbitration against Pentamedia for breach of pact" Pentamedia Graphics Ltd has informed BSE that Pentamedia's intention to complete the deal stands unaltered and the Company's legal advisors are still pursuing talks with Film Roman on the same lines.

BSE revises Special Margin on 47 scrips

BSE has informed members of the exchange that the following scrips which are at present under Special Margins will attract Special Margins as indicated hereunder with effect from today (June 11, 2001). The rates of Special Margins have been revised keeping in view the closing price of the scrip on the last day of the settlement. CODE SCRIP NAME GSCRIP SPMARGIN (%) 410 ACC A 25 12599 ADANI EXPORTS A 50 32399 ADLABS B1 25 31632 AVINASH INFOTEC B2 25 373 CLARIANT INDIA B1 25 32419 D LINK INDIA B1 25 24170 DSQ BIOTECH B2 50 23864 DSQ SOFTWARE A 25 32417 E.STAR INFOTECH B2 25 32403 FOURTH GENERATI B2 25 31939 GENIUS COMM TRA B2 25 9079 GUFIC BIO SCIEN B2 25 23477 GUJARAT GAS A 50 32181 GUJARAT MINERAL B1 25 183 HIMACHAL FUTUR A 25 23886 HINDUSTAN INKS B1 25 193 HOTEL LEELA B1 25 30005 INDIA CEMENTS A 25 32175 INOTECH ENTERPR B1 25 32072 INTERWORLD FAS B2 25 32033 JAIN STUDIOS B1 25 888 JAIPRAKASH INDS A 25 31892 KHANDWALA SECUR B1 25 260 MADRAS CEMENTS A 25 32127 MOBILE TELE B2 25 24084 MONSANTO CHEM B1 25 32407 MOSCHIP SEMI B2 25 6954 MOTORALA SPEC B2 25 32350 PADMALAYA TELE B1 25 32387 PRITISH NANDY B1 25 31739 PRUDENTIAL PHAR B2 25 7300 RAVALGAON B1 25 24632 RELISH PHARMA B2 25 26089 ROOFIT INDUSTRY B1 50 13583 S B & T INTER B1 50 32118 SAI INFO.SERVIC B2 50 378 SAW PIPES A 25 17411 SHYAM TELECOM A 25 32274 SOFFIA SOFTWARE B2 25 32221 SONATA SOFTWARE A 25 32211 SUN EARTH CERA B1 50 31637 SWORD & SHIELD B2 50 31830 TODAY'S WRITING B2 25 31554 TOP CASSETTES B1 25 26707 TOUBRO INFOTECH B2 50 31717 VIDHI DYESTUFFS B2 25 31404 ZICOM ELECT B2 25

Tata Coffee FY-01 PBT down by 72.44%

Tata Coffee Ltd has posted a net profit before tax (and extra-ordinary items) of Rs 118.81 million for the year ended March 31, 2001 as compared to Rs 431.16 million for the previous year ended March 31, 2000. Total Income for FY-01 is at Rs 2119.36 million as compared to Rs 2178.78 million for FY-00. Extraordinary item for the current year represents proportionate charges of Voluntary Retirement Scheme amounting to Rs 2.22 million, Diminution/loss in value of investment Rs 3.38 million and amount received as compensation in lieu of alternate accommodation on account of surrender of tenancy rights Rs 33.05 million (Previous year Diminution in value of investment Rs 34.50 million) The net profit for the current year after considering the said extra-ordinary items and tax comes to Rs 135.76 million as compared to Rs 261.15 million in the previous year ended March 31, 2000. The Board of Directors has recommended a dividend of Rs 4 per share for the year 2000-01 amounting to Rs 49.87 million subject to the approval of the shareholders at the Annual General Meeting (previous year Rs 6 per share)

Asian Paints gets approval for proposed industrial project in Bangladesh

Asian Paints (India) Ltd has informed BSE that the Company has received the necessary approval from the Board of Investment, Dhaka, Bangladesh, for the proposed industrial project to manufacture paints, enamels and varnishes, in Bangladesh.

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