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| Shrenuj Q4 net down by 16.59%, FY-01 net down by 8.55% |
Shrenuj & Company Ltd has posted a net profit of Rs 21.25 million for the quarter ended March 31, 2001as compared to Rs 25.47 million in the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 557.53 million as compared to Rs 569.75 million in the corresponding period last fiscal.
The net profit for the year ended March 31, 2001 is at Rs 71.31 million as compared to Rs 77.99 million in the corresponding period last fiscal. Total income for the year ended March 31, 2001 is at Rs 2242.18 million as compared to Rs 1839.41 million in FY-00.
The Board has recommended a dividend of 25% for the financial year ended March 31, 2001.
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| Eider Commercials Board approves allotment of preference shares |
| Eider Commercials Ltd has informed BSE that the Board of Directors at their meeting held today May 9, 2001 accorded approval to an alteration in the capital clause of the company and allotment of preference shares. This is subject to the sanction of the scheme of amalgamation by the Hon'ble Bombay High Court and Bangalore High Court.
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| Balaji Telefilms not to proceed with merger of Nine Network |
The Board of Directors of Balaji Telefilms Ltd and Nine Network Entertainment India Private Ltd in their respective Board Meetings held on May 9, 2001 have decided not to proceed with the merger of Nine Network Entertainment India Private Ltd with Balaji Telefilms Ltd.
Both Balaji Telefilms and Nine Network feel it is in their respective commercial interests not to proceed with the merger at this stage as the synergies that were anticipated to arise from the proposed merger are no longer seen to exist. Also Nine Network's parent company HFCL- Nine Broadcasting India Ltd wishes to focus, for the time being on its existing broadcasting activities rather than the acquisition of interests in content production companies.
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| Mascon Global to consider GDR issue |
A meeting of the Board of Directors of Mascon Global Ltd has been convened on May 14, 2001 to consider the following:
1. Further issue of securities by way of GDR
2. Any other item with permission of the Board
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| HDFC holding in HDFC Bank increases to 15.95% |
HDFC Bank Ltd has informed BSE that it has received a letter dated May 07, 2001 from HDFC Ltd making a disclosure pursuant to regulation 7(1) that it has acquired 1,33,10,000 equity shares of the Bank from HDFC Holdings Ltd and with the said acquisition of shares its shareholding in the Bank has increased from 10.48% to 15.95%.
The mode of acquisition is an interse transfer amongst the Promoter group companies.
HDFC Investments Ltd. (the other Group Company) continues to hold 12.31% of the share capital of the Bank.
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| Cabot India Ltd net profit has fallen from Rs 17 million in the quarter ended March 31, 2000 to Rs 1.70 million in the quarter ended March 31, 2001. Total income posted by the company is at Rs 335.50 million in the quarter ended March 31, 2001 as compared to Rs 276.10 million in the corresponding period last fiscal.
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With reference to a report carried in one of the leading financial dailies dated May 9, 2001, about Mastek sacking 51 employees. The company has informed BSE that the aforesaid report is factually incorrect. Mastek categorically denies the statement, there has been no reduction of headcount.
"Rather than sacking people we have in fact increased our manpower by 50 in this period" said Mr Ashank Desai CMD Mastek Ltd.
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| Monalisa Infotech fixes record date for stock split |
| Monalisa Infotech Ltd has fixed record date as June 15, 2001 for a Stock Split of existing equity shares - from every one existing equity share of Rs.10/- each into five equity shares of Rs 2 each.
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| Wockhardt in alliance with Eisai of Japan |
Wockhardt Ltd, among India's top-5 pharmaceutical majors, has entered into a strategic alliance with Japan's fourth largest pharmaceutical company, Eisai Company Ltd to launch one of its leading global products - Methycobal (mecobalamine) in India. Methycobal is used in treating several debilitating nerve disorders such as the ones observed in diabetic patients. Methycobal is one of the largest products of Eisai, Japan, a US$ 2.90 billion organization, and is sold in over 25 countries including Europe and the United States. Eisai's worldwide sale of Methycobal is over US$ 400 million.
Giving details of this exclusive alliance between Wockhardt and Eisai, Wockhardt's Chairman, Mr Habil F Khorakiwala said, "This is part of Wockhardt's strategy to concentrate on new product introductions in the lifestyle segment such as diabetes and neurology. Methycobal tablets will be manufactured in India under technical assistance from Eisai, Japan, and will meet their global quality standards"
Methycobal will be launched in India in July 2001.
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| Icra retains MA+ rating for SBI Home FD programme |
| SBI Home Finance Ltd has informed BSE that ICRA has vide its letter dated April 12, 2001 retained the surveillance rating of company's FD programme, which was carried out recently, as "MA+". This rating indicates Adequate Safety.
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| Goa Carbon to acquire 80% equity of Paradeep Carbons |
| Goa Carbon Ltd has informed BSE that the Board of Directors of the company at its meeting held on May 07,2001 has decided, subject to the satisfaction of certain conditions precedent, to acquire 80% of the share capital of Paradeep Carbons Ltd.,a Calcined Petroleum Coke manufacturing company (unlisted and closely held) having its registered office at Cuttack in (Orissa) and its manufacturing plant at Village Udayabata, P.O.Paradeepgarh, Dist.Jagatsinghpur (Orissa).
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| Birla Century Fin accepts Price Waterhouse report for merger with Kesoram Ind |
| Birla Century Finance Ltd has informed BSE that the Board of Directors of the company at their meeting held on May 04, 2001 has accepted the report of Price Waterhouse for proposal of merger of the company with Kesoram Industries Ltd., on that basis the shareholders of the company holding 10 shares of Rs 10 each will be issued one Sec.Debenture of Rs 105 each of Kesoram Industries Ltd.,carrying interest of 12% p.a. and will be redeemable, preferably within a year. The aforesaid merger is subject to necessary approvals.
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| Tisco fixes book closure for dividend |
| Tata Iron & Steel Co. Ltd has fixed book closure from June 08, 2001 to June 29, 2001 for the purpose of an AGM and for declaring dividend.
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| Nicholas Piramal fixes book closure for dividend |
| Nicholas Piramal India Ltd has fixed book from June 26, 2001 to July 05, 2001 for the purpose of an AGM and for declaring dividend of 70%.
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| Satyam Computer files ADS offering with SEC |
Satyam Computer Services Ltd (Satyam) announced today (May 8, 2001) that they have filed a registration statement with the United States Securities and Exchange Commission relating to an offering of American Depository Shares or ADSs, outside India including in the United States. Pursuant to the registration statement Satyam intends to offer 12.5 million ADSs representing 25 million equity shares. The underwriters may purchase up to an additional 1.875 million ADSs representing 3.75 million equity shares to cover allotments within 30days of the pricing of the offering.
Satyam anticipates that the price to the public per ADS will be determined with reference to the prevailing market prices of its equity shares, which are currently traded on the The Stock Exchange of Mumbai Limited and The Hyderabad Stock Exchange and The National Stock Exchange of India Ltd. Pending completion of the offering it is expected that the ADS s will be traded on the New York Stock Exchange under the symbol 'SAY'.
The underwriters for the offering are Merrill Lynch & Co Deutsche Banc. Alex Brown, Banc of America Securities LLC, Salomon Smith Barney and CLSA Emerging Markets.
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| Hindustan Inks Q4 net profit up by 135%, FY-01 net up by 30% |
Hindustan Inks and Resins Ltd has posted a net profit of Rs 114.90 million for the quarter ended March 31, 2001 as compared to Rs 48.80 million in MQ 2000. Total Income for the quarter ended March 31, 2001 is at Rs 1320.50 million as compared to Rs 510.60 million in the corresponding period last fiscal.
Net profit for the year ended March 31, 2001 is at Rs 316.30 million as compared to Rs 243.30 million in the financial year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 3503.70 million as compared to Rs 1919.40 million in the year ended March 31, 2000.
The Board of Directors has recommended dividend of 40% on prorata basis on increased equity capital for the year ended March 31,2001.
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