Knoll Pharma Q2 results on July 16, 2001

A meeting of the Board of Directors of Knoll Pharmaceuticals Ltd is scheduled to be held on July 16, 2001 to consider and take on record the Unaudited Financial Results of the Company for the quarter ended June 30, 2001.

SPIC FY-01 net down by 44.06%

Southern Petrochemical Industries Corporation Ltd (SPIC) has posted a net profit of Rs 158.70 million for the year ended March 31, 2001 as against Rs 283.70 million for the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 22934.90 million as against Rs 27117.80 million for the previous year ended March 31, 2000. Interest Expenditure is higher at Rs 2144.70 million in FY-01 as against Rs 1806.80 million in FY-00. The Board of Directors of the Company has recommended a Dividend of 10% on the equity share capital of the Company.

Trent FY-01 PBT at Rs 149.95 million

Trent Ltd has posted a net profit (before tax and Diminution in value of Long Term Investments) of Rs 149.95 million for the year ended March 31, 2001 as against Rs 149.78 million for the previous year. Net Sales/Income from Operations are at Rs 489.92 million as against Rs 495.37 million for the year ended March 31, 2000. Other Income is at Rs 171.39 million in FY-01 as compared to Rs 91.39 million in FY-00. Whilst the Company substantially reduced its exposure to the equity based mutual funds by placing more assets in debt instruments, it suffered losses in line with the rest of the market on its equity mutual funds. A provision of Rs 50 million has been made towards offsetting the diminution in the value of these assets. The net profit for the current year after consideration of the aforesaid provision for diminution in value of assets and Provision for Taxation (inclusive of excess/short provision for prior years) comes to Rs 101.67 million as against Rs 124.81 million for the previous year ended March 31, 2000. The Board of Directors of the Company has recommended a Dividend of Rs 6 per share for the year 2000-01.

Moschip Semiconductor Board to consider allotment of shares to Net Mos Tech, USA

Moschip Semiconductor Technology Ltd has informed BSE that the Board of Directors of the Company is scheduled to meet on July 05, 2001 to allot the shares to the members of Net Mos Tech Inc, USA to complete the acquisition of USA Corporation. The Company has also received permission from Foreign Investment Promotion Board, SIA, Ministry of Commerce, Government of India, for the said acquition on all stock swap basis on May 22, 2001. The RBI has also granted its permission for the above said share deal on June 28, 2001. Moschip has decided to commence the commercial production of its NOIDA design center with effect from July 01, 2001.

Eveready Industries posts Rs 118.66 million as net profit for FY-01

Eveready Industries India Ltd has reported a net profit of Rs 118.66 million for the year ended March 31, 2001 as against Rs 85.11 million for the previous year. Net Sales/Income from Operations are higher at Rs 8735.77 million in FY-01 as against Rs 7581.03 million in FY-00 Other Income is at Rs 669.87 million for the year ended March 31, 2001 as against Rs 72.90 million for the previous year. Other Income for FY-01 includes Rs 501.551 million being profit on sale of Tea Estate The Company has reported that with effect from April 1, 2000 the undertaking of the Bishnauth Tea Company Ltd has been transferred to and amalgamated with the Company. The figures for the year ended March 31, 2001 as given above reflect the combined results of the merged entity, and are, therefore, not comparable with the results of the previous year. The Board has recommended a dividend of Rs. 1/- Per share for the year ended March 31, 2001.

Dr Reddys gets tentative FDA approvals for Omeprazole 40mg capsules and Fluoxetine 40mg capsules

Dr Reddy's Laboratories Ltd has received tentative FDA approvals for Omeprazole 40 mg capsules on June 25, 2001 and Fluoxetine 40 mg capsules on June 27, 2001. The company believes it has first to file status on both Omeprazole 40mg capsules and Fluoxetine 40mg capsules and will receive 180-day marketing exclusivity on successful outcome of the patent litigation's. The 40mg Fluoxetine capsules will be marketed through Pharmaceuticals Resources. Dr Reddy's believe Pharmaceutical Resources Inc has 180 day marketing exclusivity for the 10 mg and 20 mg tablets. The combination of Pharmaceuticals Resources Inc and Dr Reddy's will be the only entity which will have 180 day marketing exclusivity that can offer the 10mg, 20mg(tablets) and 40 mg (capsules) dosage strengths for Fluoxetine. Annualized branded sales for 40 mg Fluoxetine capsules are estimated to be higher than $250 million. For Omeprazole 40mg capsules annualized branded sales exceed $100 million, Dr Reddy's expects to market the product itself. The Company is also in the process of establishing its own generic sales and marketing Organisation for the United States to market its products in the future. In a separate development, Eli Lilly has filed a complaint on June 26, 2001 against Dr Reddy's as a consequence of filing a certification IV against all Orange Book Patents on its AnDA filing of Olanzapine 15 mg and 20mg tablets. To the best of its knowledge, Dr. Reddy's has the first to file status on the 20 mg dosage of Olanzapine.

German Remedies Q1 results on July 27, 2001

A meeting of Board of Directors of German Remedies Ltd is scheduled to be held on July 27, 2001 to consider the Unaudited Financial Results of the Company for the quarter ended June 30, 2001.

Jindal Steel allots shares under ESPS

Jindal Seel & Power Ltd has informed BSE that the Committee of Directors of the Company at its meeting held today (June 29, 2001) has allotted 1,83,850 equity shares of Rs 10 each at a premium of Rs 90 per share to the employees of the Company under ESPS scheme approved by the shareholders in their meeting held on January 29, 2001, in terms of SEBI (Employees Stock Option Scheme and Employees Stock Purchase Scheme) Guidelines 1999.

Floatglass announces change in management structure

The Board of Directors of Floatglass India Ltd at its meeting held today (June 29, 2001) has taken the following decisions: 1. The Board accepted the resignation of Messrs T M M Nambiar, N H Italia and H H Malgham as Directors with effect from June 22, 2001 consequent to sale of shares by the Associated Cement Cos Ltd, Tata Engineering & Locomotive Co Ltd and Tata International Ltd (promoters) to Asahi Glass Co Ltd Japan. 2. The Board accepted the resignation of Mr M Ichinose as Managing Director of the company with effect from June 29, 2001, who was recalled by the promoters ie M/s Asahi Glass Co Ltd Japan 3. The Board re-designated Mr S Kawakami as Managing Director with effect from June 29, 2001 due to resignation of Mr M Ichinose was recalled by Asahi Glass Co Ltd. (promoters). 4. The Board appointed Mr H Shiol, Mr R M Kunzru and Mr H D Daftary as Wholetime Directors with effect from June 29, 2001 for the period of five years.

Information Technologies Q4 net down by 85.54%, FY-01 net down by 49.43%

Information Technologies (India) Ltd has posted a net profit of Rs 31.98 million for the quarter ended May 31, 2001 as compared to Rs 221.16 million for the corresponding period last fiscal. Total Income for the quarter ended May 31, 2001 is at Rs 166.59 million as compared to Rs 729.73 million for the quarter ended May 31, 2000. Net Profit for the year ended May 31, 2001 is at Rs 355.53 million as compared to Rs 703.08 million for the previous year. Total Income for the year ended March 31, 2001 is at Rs 1925.49 million as compared to Rs 2372.35 million for the previous year ended March 31, 2000.

Novartis India FY-01 net profit at Rs 526.60 million

Novartis India Ltd has posted a net profit of Rs 526.60 million for the year ended March 31, 2001 as against Rs 1034.20 million for the year ended March 31, 2000. Net Sales are at Rs 4033.30 million in FY-01 as against Rs 8243.50 million in FY-00 Other Income stands at Rs 307.90 million in FY-01 as against Rs 405.60 million in FY-00 Profits of the company have been impacted by low sales growth, additional costs arising from higher customs levies costs associated with setting up of the consumer health business and closure of Ciba Vision operations. The Company has reported that the Honourable Bombay High Court vide its Order dated October 12, 2000 has approved the scheme of arrangement for demerger of Agribusiness undertaking, comprising Crop Protection and Seeds businesses, to a separate entity Syngenta India Ltd retrospectively from April 1, 2000. Accordingly, results for the year ended March 31, 2001 pertain only to remaining Healthcare business and are not comparable with the previous year results. The Scheme of Amalgamation of Ciba CKD Biochem Ltd (CCBL) with the Company though effective restrospectively from April 01, 2000 is subject to High Court approval, and the results do not include the results of CCBL operations. The Board is expected to recommend Dividend for the fiscal year March 2001 only after completion of the aforesaid merger.

GIC Housing Finance Q4 net up by 32.09%, FY-01 net up by 9.89%

GIC Housing Finance Ltd has posted a net profit of Rs 10.70 million for the quarter ended March 31, 2001 as compared to Rs 8.10 million for the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 261.90 million as compared to Rs 228.60 million for the quarter ended March 31, 2000. Net Profit for the year ended March 31, 2001 is at Rs 43.30 million as against Rs 39.40 million for the previous year. Total Income for FY-01 is at Rs 918.10 million as compared to Rs 853.10 million for FY-00. The Board of Directors of the Company has recommended a Dividend of 10% for the current year.

International Bestfoods posts net loss of Rs 412.26 million for FY-01

International Bestfoods Ltd has posted a net loss of Rs 412.26 million for the year ended March 31, 2001 as against a net loss of Rs 135.16 million for the previous year. Total Income for the year ended March 31, 2001 is at Rs 671.19 million as against Rs 1043.18 million for the year ended March 31, 2000. The Company has become a subsidiary of the Hindustan Lever Ltd with effect from April 21, 2001. The Company has reported that sales during the year have been affected due to : a. Intense price competition during the first half (April 00 to September 00) I the salt operations resulted in lower prices and margins. b. After the announcement of merger proposal between Bestfoods, USA and Unilever in June 2000 the Company has lost about 40% of the front line sales personnel and field managers. In view of the uncertainties involved due to the above transaction and the innovation management issues arising out of he Joint Selling agreement, Sales of the Company have been affected considerably. c. During the December quarter, the Company closed down almost all of its distributors and appointed HLL distributors from January 01, 2001 as its distributors. The Company also had to take back stocks from the distributors resulting in higher sales returns.

Fall in Other Income pulls First Leasing Co. Q2 net down by 9.37%

First Leasing Company of India Ltd has posted a net profit of Rs 40.34 million for the quarter ended May 31, 2001 as against Rs 44.51 million for the corresponding period last fiscal. Income from Operations for the quarter ended May 31, 2001 is at Rs 348.38 million as against Rs 302.01 million for the quarter ended May 31, 2000. Other Income for the current quarter ended May 31, 2001 is lower at Rs 3.62 million as against Rs 56.24 million in the May 31, 2000. Interest Expenditure is higher at Rs 139.32 million in the quarter ended May 31, 2001 as compared to Rs 127.51 million for the quarter ended May 31, 2000.

Reliance Petro Q1 results on July 30, 2001

A meeting of the Board of Directors of Reliance Petroleum Ltd is scheduled to be held on July 30, 2001 to consider and take on record the Unaudited Financial Results of the Company for the quarter ending June 30, 2001.

HLL flavour, fragrances & food ingredients business transferred to subsidiary

Hindustan Lever Ltd has informed BSE that pursuant to the shareholders approval obtained at the last Annual General Meeting of the Company held on June 22, 2001, the flavours, fragrances and food ingredients business of the Company has been transferred to Quest International India Ltd, a subsidiary of the Company and the joint venture with ICI Group has also been formed. The Company has also informed that Mr Aditya Narain has been appointed as a non-executive Director of the Company with effect from today (June 29, 2001)

Hindustan Lever Q2 results on July 24, 2001

A meeting of the Board of Directors of Hindustan Lever Ltd is scheduled to be held on July 24, 2001 to consider and take on record the Unaudited Financial Results of the Company for the quarter ended June 30, 2001 and also consider payment of Interim Dividend for the financial year ending December 31, 2001. The Company has also informed that July 31, 2001 has been fixed as the Record Date for the purpose of determining the entitlement of the shareholders of the Interim Dividend as may be declared by the Board at the aforesaid meeting.

Apollo Tyres fixes book closure for the purpose of Dividend

Apollo Tyres Ltd has informed BSE that the Company has fixed the Book Closure dates from September 1, 2001 to September 17, 2001 for the purpose of 40% Dividend & A.G.M.

Fall in Other Income pulls Zodiac Clothing FY-01 net down by 4.86%

Zodiac Clothing Co. Ltd has reported a net profit of Rs 76.30 million for the year ended March 31, 2001 as against Rs 80.20 million for the previous year. Net Sales/Income from Operations is higher at Rs 665.50 million as against Rs 631.60 million for the year ended March 31, 2000. Other Income for FY-01 is lower at Rs 18.70 million as against Rs 50.40 million for FY-00. The Board of Directors of the Company has recommended a Dividend of Rs 5 per equity share for the year ended March 31, 2001.

Asian Hotels announces 15% Interim Dividend

In a communication issued to the BSE, Asian Hotels Ltd has announced that the Board of Directors of the Company has declared a second Interim Dividend of Rs 1.50 per share and not Rs 0.50 per share as informed earlier thus bringing the total Dividend for the year 2000-01 (Inclusive of Interim Dividend of Rs 5.50 per share declared during the year) to Rs 7 per share and not Rs 6 per share.

M & M automotive plants to work for 3-4 days a week due to monsoon seasonality

Mahindra & Mahindra Ltd has informed BSE that taking the monsoon seasonality into account, all automotive plants of the Company will be working between 3 to 4 days a week to meet the current market requirement. However, depending upon the activities and increase in demand, some of the workmen will be called whenever required. The workmen will be paid wages for the days they are asked not to report.

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