Bajaj Auto Fin FY-01 net profit at Rs 191.30 million

Bajaj Auto Finance Ltd. has posted a net profit of Rs 191.30 million in the year ended March 31, 2001 as compared to a net profit of Rs 212.80 million in the year ended March 31, 2000. Total income posted by the company in the year ended March 31, 2001 is at Rs 1071.70 million as compared to Rs 864.80 million in the corresponding period last fiscal. The Board of Directors of the Company has recommended dividend of 30% for the year ended March 31, 2001.

ACC cement despatches at 0.96 million tonnes in April 01

Associated Cement Companies Ltd has informed BSE that the cement despatches for the month of April 2001 are at 0.962 million tonnes as compared to 0.975 million tonnes in April 2000. The production for April 01 is at 0.966 million tonnes as compared to 0.958 million tonnes in April 00.

Core Healthcare referred to BIFR

Core Healthcare Ltd. has informed BSE that it has made reference to BIFR under SICA, 1985, reference has been registered as Case No.149/2001 dated April 16, 2001.

DCM Board approves hiving off polymer compounding business

DCM Shriram Consolidated Ltd. has informed BSE that the Board of Directors of the Company has on its meeting held on May 02, 2001 approved in principle the proposal to hive off to the existing Polymer Compounding business of the company as an independent entity and has constituted a Sub-committee to examine the suitable structure/scheme for this hiving off.

Eveready announces change in Directors

At a meeting of the Board of Directors of Eveready Industries Ltd (EIIL) held on May 04, 2001, the resignation of Mr. P. Magor as a Director of the company was accepted and in his place Mr. P. K. Kaul has been appointed as a Director, with effect from the same day. Also consequent to the amalgamation of Bishnauth Tea Co. Ltd. (BTCL) with EIIL becoming effective. Mr. B. M. Khaitan, Chairman of the Company, who was also the Managing Director of BTCL, has become ipso facto the Executive Chairman of EIIL effective today (May 04, 2001) on the same terms and conditions at which he was employed as Managing Director of BTCL.

Bishnauth Tea amalgamated with Eveready Industries

The scheme of amalgamation of the Bishnauth Tea Co.Ltd. (BTCL) with Eveready Industries India Ltd. (EIIL) with effect from April 01, 2000 was sanctioned by the Hon'ble High Court at Calcutta by its order dated March 13, 2001 and the certified copy of the Order has been filed with the Registrar of Companies on May 04, 2001. The amalgamation has thus come into effect and the entire undertaking of BTCL including all its assets, rights, duties, interests and liabilities now stand transferred to and vested in EIIL with retrospective effect from April 01, 2000.

Jay Shree Tea members approve buyback of 10% equity

Jay Shree Tea and Industries Ltd. has informed BSE that at an EGM of the shareholders held today (May 04, 2001), the proposal of the Board for the buy back of 11,07,000 equity shares of Rs 10 each constituting 10% of the total paid up share capital of the Company has been approved by the shareholders at a maximum price of Rs 75 per share and in terms of the SEBI (Buy Back of Securities) Regulations 1998 and the Companies (Amendment) Act, 2000. Further, in the Board meeting held today, (May 04, 2001) immediately after the conclusion of the EGM, the Board decided to adopt the method by way of purchase from open market through stock exchanges under market mechanism. The buy back as aforesaid shall be made within March 31, 2002 or such extended period as may be permissible under law.

Dr Venkateswarlu inducted into Board of Dr Reddy's

Dr A Venkateswarlu President Dr Reddy's Research Foundation (DRF) has been inducted into the Board of Dr Reddy's Laboratories. Dr Venkateswarlu has been associated with DRF from the conceptual stage and was instrumental in setting up an exceedingly productive research programme. Under his leadership DRF has made tremendous progress and has created landmark events in drug discovery research in India. Dr Venkateswarlu has retired from active service as President Dr Reddy's Research Foundation on achieving super annuation. He will continue to be associated with the company as a member of the Board of Directors and will advise the company on important matters. Dr Rajagopalan Senior Vice President- Discovery Biology takes over the reins from Dr Venkateswarlu as the President of DRF. Dr Rajagopalan joined DRF as the head of its pharmacology R&D group in 1994. He was instrumental in building the discovery biology capabilities at DRF and was made Senior Vice President - Discovery biology in 2000.

Thomas Cook to have a new, dynamic & contemporary feel

On the occasion of its 160th anniversary, Thomas Cook, the best known and the most widely recognised travel and related services brand internationally, is set to unveil a new dynamic brand identity. In the meeting of its supervisory board on May 03, 2001 C & N, the present owner of Thomas Cook, has announced that they will take full advantage of the power and recognition of the Thomas Cook brand, C&N Touristic AG will become Thomas Cook AG. Says Mr. Ashwini Kakkar, CEO & Managing Director, Thomas Cook (India) Ltd. "the aim is to create a new, dynamic and contemporary feel to what is the oldest brand of travel in the world." A new corporate identity is currently in development which will combine the strength of the Thomas Cook brand with the "holiday colours" of C&N (blue and yellow). The new logo is expected to be launched in the middle of this year. "Through the purchase of Thomas Cook, C&N has acquired one of the world's most respected travel brands. With this decision, C&N owned travel agencies across Europe will now be renamed Thomas Cook travel agencies to fully leverage the equity of the Thomas Cook brand", adds Mr. Kakkar. Thomas Cook was recently acquired by C&N, thereby creating the second largest travel group in Europe with a strong portfolio of tour operating and charter airline brands, and a combined fleet of over 70 aircraft.

New York Life International Partners with Infosys on expansion project

New York Life Insurance Inc., the overseas arm of New York Insurance Company and Infosys Technologies Ltd. a leading provider of IT consulting and services, today (May 4, 2001) announced the first phase of their worldwide expansion project, which began in India last month. New York Life International is expanding its business to countries throughout Asia and Latin America, which requires the development of robust life insurance business systems for each country. Infosys has been selected to design, develop, implement and deploy this solution. Using AMARTA a business process environment and software framework designed specifically for the insurance industry by Sherwood International, Infosys is creating systems meeting the needs of each market where New York Life International has a presence. The systems for the first of these markets, India, went live in April, providing Max New York Life, the company's Indian joint venture, with the necessary software applications to conduct business. As part of the first phase of this project, similar system implementations will be carried out in Asia this year. Subsequent phases will target countries in Latin America.

Nicholas Piramal FY-01 net up by 19.82%

Nicholas Piramal India Ltd. has posted a net profit of Rs 667.20 million in the year ended March 31, 2001 as compared to Rs 556.80 million in the year ended March 31, 2000. Total income for the financial year ended March 31, 2001 is at Rs 5188.40 million as compared to Rs 4512.60 million in the corresponding period last fiscal. The Board has recommended a Dividend of 70% for the year ended March 31, 2001. The Board of Directors has on April 16,2001 approved a Scheme of Arrangement (the Scheme) as a composite scheme, proposing merger of Rhone-Poulenc (India) Ltd (RPIL), Super Pharma Ltd and certain assets and liabilities of NPIL Fininvest Ltd, comprising mainly of the shares held in RPIL along with the debt raised for acquiring the same. The Scheme when sanctioned by the Honble High Court at Mumbai, shall be effective from, April 1, 2001.

Kesoram to buyback 15% of equity at a max price of Rs 40 per share

At its Board meeting held today (May 4, 2001) the Board of Directors of Kesoram Industries Ltd has taken the following decisions. 1. Acceptance of the report of Price Waterhouse regarding proposal of merger of Hindustan Heavy Chemicals Ltd and Birla Century Finance Ltd with the company on the following terms: In respect of the proposed amalgamation of Hindustan Heavy Chemicals Ltd (GGCL) with Kesoram Industries Ltd (KIL) after considering comparative valuation of the Equity Ordinary shares of both the companies a fair rate of exchanged of the Equity shares/Ordinary shares for HHCL and KIL is considered to be 5 Shares of HHCL: 1Share of KIL. In respect of the proposed scheme of arrangement between Birla Century Finance Ltd (BFCL) and KIL keeping in view the nature of BCFLs business as a NBFC which will be difficult for KIL to continue with, it is decided to compensate BCFLs Shareholders adequately by issue of one secured Debenture of Rs 105 each (carrying interest rate say, 12% p.a. and redeemable preferably within a year) for every ten BCFL Equity Shares of Rs 10 each. 2. The Board has decided to buyback upto 78,42,280 equity shares of Rs 10 each constituting 15% of the paid up ordinary share capital of the company from the existing shareholders at a maximum price of Rs 40 only. The method to be adopted and the specific price at which the buy back shall be made is to be determined by the Board in due course. 3. Shri K K Khemka has resigned as a Director and Manager of the company wef today (May 4, 2001) and the same has been duly accepted. 4. Shri S K Parikh Senior President (Finance & Taxation) & Secretary has been coopted as a Director in the company. 5. Shri K C Jain Senior President (Cement Sections) has been appointed as Manager of the company under the provisions of the Companies Act.

Hoechst Marion Roussel revises Book Closure

Hoechst Marion Roussel Ltd. has informed BSE that the Annual General Meeting of the Company has been postponed and will now be held on Monday June 25, 2001. Accordingly the dividend of 40% recommended by the Board of Directors for the nine months ended March 31, 2001 if declared at the AGM on June 25, 2001 will be paid on or after June 26, 2001 to those shareholders whose name appear on the Register of Members as on June 25, 2001. The Register of Members and Share transfer Books will be closed from June 01, 2001 to June 25, 2001.

Atlas Wires amalgamation with Precision Wires effective from May 4, 2001

Precision Wires India Ltd. has informed BSE that the Order dated April 11, 2001 u/s 394 of the Companies Act, 1956, passed by the Hon'ble Gujarat High Court approving the Scheme of Amalgamation of Atlas Wires India Ltd. has been filed today (May 04, 2001)with the Registrar of Companies. As provided in the aforesaid Order of the Hon'ble Gujarat High Court, the Amalgamation between the two Companies becomes effective from today (May 04, 2001). The Transferor Company, Atlas Wires Ltd., stands dissolved without winding up today (May 04, 2001)

Tata Elxsi appoints Additional Director

The Board of Directors of Tata Elxsi Ltd at its meeting held on April 26, 2001 has appointed Mr H H Malgham as an Additional Director of the company.

ICICI fixes Book Closure for dividend

ICICI Ltd. has informed BSE that it has fixed Book Closure from June 08, 2001 to June 26, 2001 for declaring 55% dividend.

HDFC fixes Book Closure for dividend

Housing Development Finance Corp. Ltd. has informed BSE that it has fixed Book closure from June 26, 2001 to July 17, 2001 for declaring dividend on equity shares.

Dabur India to consider interim dividend

Dabur India Ltd. has informed BSE that a meeting of the Board of Directors of the company has been convened on June 01, 2001 to consider the payment of interim dividend for the financial year 2001-2002 on equity shares of the company. The company has fixed Record Date as June 07, 2001 for the purpose of payment of interim dividend.

Cadila Healthcare fixes Book Closure for dividend

Cadila Healthcare Ltd. has informed BSE that the Board of Directors of the Company has fixed Book Closure from July 03, 2001 to July 16, 2001 for the purpose of an AGM and for declaring 60% dividend (Rs 3 per share) on a face value of Rs 5 per share.

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