Sundram Fasteners FY-01 net down by 32.47%

Sundram Fasteners Ltd has posted a net profit of Rs 287.80 million for the year ended March 31, 2001 as against Rs 426.20 million for the previous year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 3750.10 million as compared to Rs 3810.70 million for the previous year ended March 31, 2000. The Company has reported that Employees Cost during the current year includes extra-ordinary expenditure of Rs 50.60 million being compensation paid to employees under the Early Retirement Scheme. The Directors have recommended a Dividend of Rs 7 per share for the year 2000-01.

MRF Q3 results on July 31, 2001

A meeting of the Board of Directors of MRF Ltd is scheduled to be held on July 31, 2001 to take on record the Unaudited Provisional Financial Results for the Quarter ended June 30, 2001. The aforesaid meeting will also consider declaration of Interim Dividend for the year ending September 30, 2001 The Company has further proposed to fix the August 17, 2001 as the Record Date for the purpose of payment of Interim Dividend and the Dividend if declared will be paid on or after August 27, 2001, subject to the approval of the Board of Directors.

Indian Rayon makes open for acquisition of 20% stake in PSI Data at Rs 186.80 per share

Indian Rayon and Industries Ltd ("The Acquirer"), a limited company incorporated under the Companies Act, 1956 has entered into a share purchase agreement dated June 25, 2001 with Bull S.A., of France, promoter of PSI Data Systems Ltd ("Target Company") in terms of SEBI (SAST) Regulations, pursuant to which, subject to the approval of the Reserve Bank of India, Indian Rayon has agreed to acquire from Bull its shareholdings in PSI of 3,801,602 fully paid-up equity shares of Rs 10 each representing about 50.35% of the outstanding equity share capital of PSI at a price of Rs 186.80 per fully paid up equity share payable in cash. Pursuant to the SEBI (SAST) Regulations, Indian Rayon is hereby making an Open Offer to the public shareholders of PSI to acquire upto 1,510,067 fully paid up equity shares representing 20% of the outstanding equity share capital of the Target Company at a price of Rs 186.80 per share payable in cash. Indian Rayon has neither acquired shares of PSI in the last twelve months nor holds any shares in PSI, as on the date of this Public announcement. The Offer is not conditional on any minimum level of acceptances. PSI Data, being engaged in knowledge based technology sector, is expected to provide Indian Rayon, a platform for initiatives in the technology sector and emerge as a prominent player in the Industry. The Specified Date i.e. (for the purpose of determining the names of persons to whom the letter of offer would be sent) has been fixed at June 29, 2001. The Offer will open on August 06, 2001 and will close on September 04, 2001. This Public Announcement is being issued by DSP Merrill Lynch Ltd (the managers to the issue) on behalf of Indian Rayon and Industries Ltd.

Mysore Cements Board to consider equity share issue to Financial Institutions

Mysore Cements Ltd has informed BSE that at the Board Meeting scheduled to be held on June 30, 2001, in addition to consideration of audited accounts for the year ended March 31, 2001 and dividend, if any, the Board will also consider the question of issue of equity shares to the Institutions in lieu of interest on the loans of ICICI, IDBI, and IFCI as well as debentures subscribed to by IFCI.

Alstom Ltd Q4 net up by 72.74%, posts net loss of Rs 27.50 million for FY-01

Alstom Ltd has reported a net profit of Rs 120.40 million for the quarter ended March 31, 2001 as against Rs 69.70 million for the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 1176.80 million as compared to Rs 1153.40 million for the quarter ended March 31, 2000. Net Loss for the year ended March 31, 2001 is at Rs 27.50 million as compared to a net profit of Rs 17.30 million for the previous year. Total Income for the year ended March 31, 2001 is at Rs 3564 million as against Rs 3776.10 million for the year ended March 31, 2000. The Company has stated that comparative figures for the last quarter of previous financial year is Jun-March 2000 include also the results relating to ALSTOM T & Distribution Transformers Ltd which has since been merged with the company effective 1st April 1999. The Directors have not recommended any dividend for the year ended March 31, 2001.

Paper Products finalises VRS scheme for Company's Thane Unit

The Paper Products Ltd has informed BSE that the Voluntary Retirement Scheme for the Company's unit situated at Majiwade Agra Road, Thane (Maharashtra) has been finalised and approved by the Managing Director today (June 27, 2001). Earlier the Board meeting held on June 22, 2001 had considered the VRS scheme and authorised the Managing Director to approve the terms and conditions of the said scheme. The Company has formulated a VRS Scheme for its employees at Thane Plant Unit of the Organisation to rationalise the operations and costs.

Nestle shareholders approve payment of Final Dividend

Nestle India Ltd has informed BSE that at the 42nd Annual General Meeting held today (June 27, 2001) following matters were approved 1.Payment of Final Dividend of Rs 6.00 per equity share for the year 2000 and confirmed the Interim dividend of Rs 8.00 per equity share already paid. 2. Reappointed Mr Ravinder Narain as a Director of the Company. 3. Reappointed M/s A.F Fergusson & Co as Auditors of the Company upto the conclusion of next Annual General Meeting of the Company. 4. Appointed Mr Tejendra Khanna as a Director of the Company. 5. Approved terms of appointment of Mr Jean Marc Waelti as Wholetime Director of the Company for a period of 5 years effective 1st July 2000. 6. Approved payment of remuneration to the Non Executive Directors of the Company. 7. Adopted the Balance Sheet as at 31st December 2000 and the Profit and Loss Account for the year ended on that date together with the Reports of the Auditors thereon. 8. Approved amendment of Articles of Association of the Company by insertion of a new Clause enabling Buy Back of the shares by the Company.

Titan Industries FY-01 net up by 21.78%

Titan Industries Ltd has posted a net profit of Rs 234.80 million for the year ended March 31, 2001 as against Rs 192.80 million for the previous year. Net Sales/Income from Operations are higher at Rs 6387.70 million for the current year ended March 31, 2001 as against Rs 5678.10 million for the previous year ended March 31, 2000. Other Income for FY-01 is at Rs 116.30 million as compared to Rs 130.20 million for FY-00. The Company has reported that both the watch and the jewellery divisions have made a profit for the year ended 31st March, 2001. Other income includes an amount of Rs 96.60 million (2000:Rs 103.80 million) being the profit on sale of shares. The Board of Directors has recommended an equity dividend of 26% amounting to Rs 109.90 million (2000,26%-Rs 109.90 million). Preference dividend amounting to Rs 39.60 million (2000,Rs 41.40 million) has been fully paid.

South African Dist acquires indirect control over Pals Distilleries

Pals Distilleries Ltd has informed BSE that an agreement has been signed between South African Breweries India Ltd (the acquirer) and K P Balasubramaniam, Mr. K.P Sankaran, Mr. S.Kapur and their associates for sale of their holding of 75.77% of the equity share capital of Mysore Breweries Ltd on June 27, 2001. The Company has further informed that Consequent to this, the Acquirer would gain indirect control over Pals Distilleries Ltd.

Charminar Breweries Board to consider amalgamation with Skol Breweries

Charminar Breweries Ltd has informed BSE that a meeting of the Board of Directors of Charminar Breweries Ltd is scheduled to be held on July 02, 2001 to consider the amalgamation of the Company with Skol Breweries Ltd.

Eonour Software Board to consider calling EGM to consider Stock Split

A meeting of the Board of Directors of Eonour Software Ltd is scheduled to be held on July 02, 2001 to consider among other things the following matters: To fix the time and date for an EGM to consider the following business: a. To consider the sub division and splitting of shares. b. To consider increasing the authorised share capital of the Company. c. To place before the members for confirmation of appointment of the MD and CEO. d. To pass resolutions under Section 81 to issue/allot shares under preferential basis e. To consider altering article 238 of the Articles of Association of the Company. f. To consider change of name of the Company.

Vorin Labs' holding in Fine Drugs & Chem rises to 35.34%

Fine Drugs & Chemicals Ltd has informed BSE that 21,69,324 fully paid equity shares of the Company have been transferred in favour of Vorin Laboratories Ltd. Vorin Labs has acquired the said shares in accordance with its agreement of March 18, 1999 with M/s. A Prabhakara Reddy and his associates. Vorin earlier had held 52,200 fully paid up equity shares of the Company i.e. 0.83% of the paid up capital of the Company, that were acquired through public offers made in accordance with SEBI (Substantial Acquisition of shares and takeovers) Regulations, 1997, consequent to the said agreement of March 18, 99. As on date, Vorin's shareholding in the Company stands at 22,21,524 fully paid up equity shares of Rs 10 each i.e. 35.34% of the paid up capital of the Company.

Indian Syntans Consortium acquires more than 5% stake in Bayer (India)

Bayer (India) Ltd has informed BSE that the Company has received intimation from M/s Indian Syntans Private Ltd that they, along with other persons acting in concert, have acquired more than 5% of the issued, subscribed and paid-up shares of Bayer (India) Ltd. The 5% limit has been crossed on June 25, 2001 including the shares purchased on that date.

Swaraj Mazda FY-01 net up by 40.49%, Net Sales up by 26.73%

Swaraj Mazda Ltd has posted a net profit of Rs 39.90 million as against Rs 28.40 million for the year ended March 31, 2000. Net Sales/Income from Operations for the current year is at Rs 2351.50 million as compared to Rs 1855.50 million for the year ended March 31, 2000. Interest Expenditure is higher at Rs 57.30 million for FY-01 as against Rs 39.10 million for FY-00. The Board of Directors of the Company has recommended a Dividend of Rs 1.50 per share subject to the approval of the shareholders at the Annual General Meeting.

E.Merck Board announces 30% Interim Dividend

At the meeting of the Board of Directors of E.Merck (India) Ltd held today (June 27, 2001), the Directors have resolved to pay an Interim Dividend of Rs 3 per share. The Record Date for the purpose of payment of Interim Dividend is July 16, 2001.

Punjab Tractors FY-01 net down by 15.56%

Punjab Tractors Ltd has posted a net profit of Rs 1125.20 million for the year ended March 31, 2001 as against Rs 1332.60 million for the previous year. Net Operating Revenue is lower at Rs 9644.80 million in the year ended March 31, 2001 as compared to Rs 10168.40 million for the previous year ended March 31, 2000. Dividend Income is at Rs 20.30 million in FY-01 as against Rs 81.40 million in FY-00. The Company has reported that it has strengthened its operating margins to 19.30% for FY 2000-01 in a year of severe market conditions when all other tractors manufacturers have seen their profits and margins plunge down. Reviewing Swaraj market performance during financial year 2000-01, Mr. Yash Mahajan, Companys Vice Chairman & Managing Director said "for the first 11 months April-Feb. our market share was 18.9% with a sale of 42547 tractors out of an industry volume of 225,500. However, Swaraj did not participate in year end over billing which reduced its market share for March to 11.6%. Notwithstanding this, we have for the year as a whole regained the No.2 slot with a market share of 18.1% by selling 45712 tractors (last year 50705)." For the year, aggregate industry volumes reached 253,000 tractors (last year 273,000). Mr Mahajan added that the happier component of the above performance was that Swaraj's new models introduced only in calendar 1999 (Swaraj 733 & Swaraj 744) have already come to represent 25% of Swaraj sale volumes (last year 12%). Reflecting Swaraj's added thrust on the upper range of its models, the +40 HP models have reached 29% of Swaraj sale volumes (last year 17%). Elaborating on the drop in Swaraj sale volumes, Mr Mahajan pointed out that farm income and tractor demand had been affected substantially by drought conditions in Rajasthan, Madhya Pradesh and Gujarat plus, paradoxically enough, by low open market prices and staggered procurement in surplus States like Punjab & Haryana. Additionally pressure from over supply of some lead players and consequent inventory pile up had let to aggregate industry volumes dropping 8% to 252,800 tractors. As regards the Current Operations, the Company has reported that for the first two months of the Current fiscal April-May 2001, against a near 15% drop in Industry Volumes (from 36,200 to 30,800 tractors), PTL has bucked trend by selling 6536 tractors during the above period (last year 6506). Consequently, PTL's market share for these two months has improved to 21% (last year 18%). With monsoon starting on a good note with regard to both spreads and timeliness, the Company expects that demand sentiments in tractor industry, particularly in states like Madhya Pradesh, Gujarat and Rajasthan which had witnessed a severe drop of output and income over past few years are likely to improve post - September. On its part, PTL is aggressively planning to widen its product variants, further expand network and upgrade service infrastructure and training. The Board of Directors of the Company has recommended a Dividend of Rs 7.50 per share subject to the approval of the shareholders at the Annual General Meeting.

Cadbury India Q2 results on July 12, 2001

A meeting of the Board of Directors of Cadbury India Ltd is scheduled to be held on July 12, 2001 to consider and take on record the Second Quarter Unaudited Financial Results ended on June 17, 2001. The period is from April 1, 2001 to June 17, 2001.

Crisil places A+ rating assigned to Atlas Cycles NCD issue

Atlas Cycles Industries Ltd has informed BSE that CRISIL has placed its A+ rating assigned to the Rs.165 million NCDs issue of the company under 'Rating Watch with Developing Implications'.

Gujarat Containers Tundav factory workers on strike

Gujarat Containers Ltd has informed BSE that there is a strike of workers at company's works/factory situated at Plot No.488, Village: Tundav, Tal. : Savli, Dist: Vadodara from May 15, 2001.

e-Serve International posts Rs 38.90 million as net profit for FY-01

e-Serve International Ltd (formerly known as Citicorp Securities & Investments Ltd) has posted a net profit of Rs 38.90 million for the nine months period ended March 31, 2001 as compared to the previous year ended June 30, 2000. Total Income for the nine-month period ended March 31, 2001 is at Rs 941 million as against Rs 420.70 million for the previous year ended June 30, 2000. The Company has changed its accounting year to March 31 and the results for the year ended March 31, 2001 reflect the nine months performance of the Company. The Company has also reported that pursuant to the approval granted by the shareholders in a court-convened meeting held on 12th December 2000, the scheme of amalgamation between Citicorp Credit Services India Limited (CCSIL) with the company was approved by the High Courts of Bombay and New Delhi on 14th February, 2001 and on 30th March, 2001 respectively. Accordingly, the scheme has been given effect to in these financial results and the assets, liabilities and reserves of CCSIL, at the respective book values as appearing in the audited balance sheet as at 30th June, 2000, have been transferred to and vested in the company with effect from 1st July, 2000. In view of the aforesaid amalgamation with effect from 1st July, 2000, the figures for the current financial year are not comparable to those of the previous year. The Board of Directors of the Company has recommended a Dividend of 10.50% (annualised 14%) for the nine months period ended March 31, 2001.

UTI Bank clarifies on news article

With reference to the news article appearing in a leading financial daily titled "UTI Bank scouting for foreign partner" UTI Bank Ltd, in a communication issued to BSE has stated that the contents are substantively correct in as much as the Bank has been talking to the foreign investors for private placement of equity of the Bank. The Company has further informed that no final decisions however, have been taken so far.

P1+ rating assigned to DSP Merrill Lynch's Debt Programme

DSP Merrill Lynch Ltd has informed BSE that CRISIL has assigned P1+ rating to the Rs.500 million Short Term Debt Programme of the company.

Goodlass Nerolac FY-01 net down by 24.68%

Goodlass Nerolac Paints Ltd has posted a net profit of Rs 225.80 million for the year ended March 31, 2001 as against Rs 299.80 million for the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 5781.30 million as compared to Rs 5348.50 million for the year ended March 31, 2000. The Company has reported that the recession in automobile industry affected the industrial sales. However, decorative sales posted an impressive growth. Margins during the year have been squeezed by higher inflation of 8% as well as by price reduction to industrial customers. Profit before tax for the year was lower on account of reduced industrial sales, depressed margins and high depreciation cost. The Directors have decided to recommend a dividend a 65% for the current year compared to 65% last year. The Company has also reported that Mr. Yasuo Tajiri has been appointed as a Director of the Company with effect from June 26, 2001.

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