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| ONGC FY-01 results on May 20, 2001 |
| A meeting of the Board of Directors of Oil and National Gas Corporation Ltd is scheduled to be held on May 20, 2001 at New Delhi to consider, take on record and approve the Audited Financial Results for the year ended March 31, 2001 and recommendation of Dividend, if any.
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| Ipca Laboratories FY-01 net down by 21.63% |
Ipca Laboratories Ltd has reported a fall in profit from Rs 261.20 million in the year ended March 31, 2000 to Rs 204.70 million in the year ended March 31, 2001. Total income posted by the Company is at Rs 3963.80 million in the financial year ended March 31, 2001 as compared to Rs 3725.60 million in the corresponding period last fiscal.
The Board has recommended a final dividend of Rs 1.50 per equity share. This is in addition to a Interim Dividend of Rs 3.50 per share authorised by the Board in October 2000 thus making the total dividend recommended to Rs 5 per equity share for the financial year ended March 31, 2001.
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| Kochi Refineries FY-01 Results on May 21, 2001 |
| Kochi Refineries Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on May 21, 2001 for taking on record the Audited Financial Results for the quarter ended March 31, 2001. The aforesaid meeting will also consider the accounts and the quantum of dividend to be recommended to the shareholders for the Financial Year 2000-2001.
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| Malvika Steel Ltd has informed BSE that Mr. S.K.Mittal, Managing Director, has resigned from the Managing Directorship of the Company. The said resignation is however subject to acceptance by the Board of Directors of the Company.
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| Johnson Controls partners with Hughes Software in India |
Johnson Controls has signed a strategic software development partnership agreement with Hughes Software Systems (HSS), India's #1 communications software company, to develop remote operations management and web enable applications. This partnership strengthens Johnson Controls commitment to software development in India.
According to Pramoda Karkal, Managing Director of Johnson Controls (India) Pvt. Ltd., "We are excited with this partnership. Leveraging this world-class software development infrastructure of HSS will allow Johnson Controls to increase the percentage of its software development in India. This agreement will result in improved efficiencies and economies of scale."
"The JCI and HSS relationship would leverage the considerable control system expertise of JCI and the communication technology leadership of HSS, to build JCI's next generation innovative solutions for Remote Operations centre management, utilising internet and VoIP (SIP) technologies", said Arun Kumar, President and Managing Director, Hughes Software Systems.
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| M&M advises production employees at Kandivli Plant not to attend work for 2 days |
Mahindra & Mahindra Ltd has informed BSE that all employees at the Company's Kandivli Tractor Plant (except for those called by their respective superiors for specific work) related to production have been advised not to attend duty on Friday, May 11, 2001 and Saturday, May 12, 2001.
All those who are not required to be present will be paid wages/Salary and allowances, as if they are present on these days.
The Company has also reported that all other employees will report for work as usual.
The Company has also reported that all other employees will report for work as usual.
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| Sesa Goa FY 2000-01 results on June 14, 2001 |
| A meeting of the Board of Directors of Sesa Goa Ltd is scheduled to be held on June 14, 2001 to consider the adoption of Annual Accounts of the Company for the year ended March 31, 2001, recommendation of Dividend, Directors Report and to take on record the Audited Financial Results for the year ended March 31, 2001.
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| Mico Nasik Plant to temporarily suspend work |
| Motor Industries Co. Ltd. has informed BSE that its Nashik Plant will not work for 6 days from May 13, 2001 to May 18, 2001 (both days inclusive). Reduction in call off by its customers has necessitated this step by the Company.
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| OCL India Board to place buy-back proposal before AGM |
| The Board of Directors of OCL India Ltd has decided to place before the shareholders at the ensuing AGM the matter of buy back of equity shares of the company at a maximum price of Rs 80 per share. The total outgo from the Buy-back is not to exceed Rs.100 million. The Board has further decided to place before a meeting of warrant holders and at the ensuing AGM, a proposal authorising the Board to convert warrants into equity shares (i.e. warrant holders to apply for and seek allotment of equity shares) in two or more tranches.
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| Hindustan Inks to issue Preference Shares at a premium of Rs 900 per share |
| Hindustan Inks & Resins Ltd has informed BSE that the the Board of Directors of the Company has resolved to issue 2,50,000 Cumulative Redeemable Preference Shares at a premium of Rs 900 per share.
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| NIIT & Microsoft Forge Strategic Alliance on .NET |
NIIT Ltd today (May 10, 2001) announced a strategic alliance with Microsoft Corporation. As part of this alliance, NIIT declared Microsoft C# (pronounced C sharp) as the "Technology of The Year", and will launch new education programmes for the Developer Community on the language.
The courses around C# will enable Indian Software professionals to build user-centric web services and XML-based applications on Microsoft's .NET platform. Acquisition of C# skills will enhance employability of the professionals. NIIT has developed a brand new curriculum on C# to offer it across NIIT centers of Advanced Technology Studies (CATS).
Additionally, NIIT will set up two Centers of Excellence in India, for developing and showcasing next generation .NET solutions.
Addressing the event, Mr. Orlando Ayala , Group Vice President, Microsoft Corporation said "Today's strategic alliance is an extension of the decade long relationship Micosoft has shared with NIIT. We are pleased to partner with India's IT education leader. NIIT, to equip Indian developers with the skills to develop next generation appliances,"
"NIIT will deploy its instructional design and delivery capability through its unique Brick & Portal model to offer best of class learning. The software developers will have have the choice of gaining crucial skills in C# either in Class Room or e3-learning mode through NetVarsity," said NIIT Chairman Mr. Rajendra S.Pawar.
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| B V Holdings EGM to consider appointment of Whole Time Director |
An Extra Ordinary General Meeting of B V Holdings Ltd is scheduled to be held on May 28, 2001 to consider and approve the appointment of Whole Time Director.
The aforesaid meeting is to also consider the appointment of auditor in casual vacancy.
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| Arvind Mills Board to call EGM to seek members approval on Restructuring Proposal |
Arvind Mills Ltd has informed BSE that the Board of Directors of the Company at its meeting held today (May 10, 2001) has taken the following decisions:
1. Under the Restructuring Proposal of the Company, the following issues are proposed be made subject to obtaining of necessary approvals:
Issue of Equity shares on rights basis aggregating to Rs 754.10 million. The shares will issued at par in the ratio of 3 equity shares for every 4 equity shares held
Issue of upto 40.30 million Convertible Warrants to certain lenders. The Warrants will be convertible into equity shares at a later date at an exercise price of Rs 15 per share.
Issue of 1 million Secured Optionally Partly Convertible Debentures of Rs 500 each aggregating to Rs 500 million to certain lenders as under
Part A of Rs 100 each will be optionally convertible into equity shares at a later date a price of Rs 15 per share.
Part B of Rs 400 will be Non-Convertible
Part C will consist of 5 detachable warrants which will be convertible into equity shares at a later date at an Exercise price of Rs 15 per share.
2. An Extra-Ordinary General Meeting of the members of the Company is being convened on June 12, 2001 to approve the above matters.
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| LIC sells 2.32 million shares in Tata SSL to Tisco at Rs 27 per share |
| Tata SSL Ltd has informed BSE that Life Insurance Corporation of India has informed the Company that, as per the guidelines on Institutional transactions in shares issued by Govt. of India on May 29, 1990, LIC has sold 23,21,340 equity shares of Tata SSL Ltd. at Rs 27 per share to Tata Iron & Steel Co.Ltd.
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| Nirma FY-01 results on May 18, 2001 |
| A meeting of the Board of Directors of Nirma Ltd has been convened on May 18, 2001 to take on record Audited financial results for the year ended March 31, 2001 and recommendation of dividend on the equity shares for the year ended March 31, 2001.
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