Blue Star FY-01 net profit at Rs 235.40 million

Blue Star Ltd has posted a net profit of Rs 235.40 million in the year ended March 31, 2001 as compared to Rs 232.40 million in the year ended March 31, 2000. Net Sales for the year ended March 31, 2001 is at Rs 5062.80 million as compared to Rs 4793 million in the year ended March 31, 2000. Other Income for the year ended March 31, 2001 is at Rs 35.40 million as compared to Rs 16.50 million in the year ended March 31, 2000. The Company has reported that the paid up capital of the Company stands reduced to Rs 203.20 million with effect from April 04, 2000 consequent to the spin off of the International Software Division into Blue Star Infotech Ltd. The results for the year ended March 31, 2000 include results for the Software Business. The Net Profit for the current year have been arrived after considering extra-ordinary expense of Rs18 million (Previous year Rs 19.60 million) representing charge on account of Employees Voluntary Retirement Scheme. The Board of Directors has recommended a Dividend of Rs 5.50 per equity share, as against Rs 5.00 per share paid in the previous year.

Stewarts and Lloyds FY-01 net up by 28.32%

Stewarts and Lloyds of India Ltd has posted a net profit of Rs 14.50 million in the year ended March 31, 2001 as compared to Rs 11.30 million in the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 357.20 million as compared to Rs 509.30 million in the year ended March 31, 2000. The Board of Directors has recommended a Dividend of 15% for the year 2000-01 subject to the approval of the shareholders in the forthcoming Annual General Meeting. The Company is a subsidiary of Tata Steel.

Mirc Electronics announces change in Directors

Mirc Electronics Ltd has informed BSE that the Board of Directors of the Company at its meeting held today (May 16, 2001) has inducted the following persons on the Board of Directors of the Company as Additional Directors to hold office upto the date of the next Annual General Meeting of the Company. 1. Mr. Vimal Bhandari, 2. Mr. Harsh Mariwala, and 3. Mr.Gautam Doshi. At the said meeting, Mr.Kanu Doshi expressed his desire to resign from the Directorship of the Company, which has been duly accepted by the Board.

Wipro launches operations in Germany

Wipro Technologies, the global IT services business of Wipro Ltd today (May 16, 2001) launched its German operations based out of Frankfurt. Azim Premji, chairman of Wipro Corporation, was there in person to launch the German operations. Wipro's portfolio of service offerings in the German market will address the IT requirements of the enterprise for business applications as well as R&D outsourcing requirements of technology companies. With a resource base of 9000 software professionals, world-class quality processes and methodologies, Wipro will provide the German market with high quality IT services delivered with reliability and speed. In order to bridge the cultural barriers and improve the productivity of it's software engineers, Wipro is also gearing up to provide German language training to it's consultants working on projects in Germany. Currently, Wipro delivers IT and product design services in Germany to some leading telecom, banking and technology companies There are about 100 consultants working for German clients, both in Germany as well as from Wipro's software development centers in India. Mr. Azim Premji, Chairman, Wipro Corporation said, "The entry into the German market represents a big step forward in our vision to be truly global company. Several Fortune 500 corporations in the US, UK and Japan have benefited from Wipro's wide range of world-class IT services. We look forward to working with leading German corporations and helping them to derive the benefits of Information Technology." Wipro has been operating in the European market for the last 6 years, which is a fast growing market for the Company.

Mirc Electronic FY-01, Q4 results on May 25, 2001

A meeting of the Board of Directors of Mirc Electronics Ltd will be held on May 25, 2001 to consider and take on record the audited Annual Accounts of the Company for the financial year ended March 31, 2001 and the Audited Quarterly Accounts for the quarter ended March 31, 2001. The aforesaid meeting is to also consider the proposal for recommendation of final dividend, if any, for the year 2000-2001.

Rico Auto Inds Q4 net down by 51.73%, FY-01 net up by 2.95%

Rico Auto Industries Ltd has posted a net profit of Rs 22.30 million for the quarter ended March 31, 2001 as compared to Rs 46.20 million for the quarter ended March 31, 2000. Total Income for the quarter ended March 31, 2001 is at Rs 909 million as against Rs 803.20 million for the quarter ended March 31, 2000. The Company has reported a net profit of Rs 136 million for the year ended March 31, 2001 as compared to Rs 132.10 million in the corresponding period last fiscal. Total Income for the year ended March 31, 2001 is at Rs 3114.20 million as compared to Rs 2217.80 million in the year ended March 31, 2000. The Board of Directors has recommended a Dividend of Rs 7 per share (70%), subject to the approval of the shareholders.

Silverline enters into sales implementation & Support alliance with AIT group

SilverlineTechnologies Limited announced today (May 16, 2001) that it has entered into a sales, implementation and support alliance with AIT Group plc., a leading U.K-based developer of eCRM applications (www.ait.co.uk). Under the agreement, Silverline will provide systems implementation and integration services for AIT's CRM products suite that focuses on financial services and banking industry customers worldwide. The alliance combines AIT's best-of-breed applications with Silverline's global business development infrastructure and high quality, cost-effective implementation capabilities. Silverline will be positioned as a worldwide sales and implementation partner of AIT and will also establish a dedicated offsite support centre in proximity to AIT's corporate office at Henley-on-Thames, U.K. AIT's product suite comprises 3r, the current market leader in eCRM solutions for retail financial services organisations in the U.K. and Portrait, a next generation, thin-client eCRM product adaptable to a dynamic business environment and capable of high adaptability and personalisation.

Silverline and Saudi Oracle Create Oracle Dedicated Competency Center for Saudi Arabian Market

Silverline Technologies Ltd an international software development and integration services firm, announced today (May 16, 2001) that it has established a dedicated technical support center that supports the business objectives of Oracle in the Kingdom of Saudi Arabia. The Silverline-staffed Oracle Dedicated Competency Center (ODCC) will provide technical support, training and professional services related to Oracle tools and applications to support Saudi Oracle and its value added resellers and integration partners in the Kingdom. In particular, the center supports the provision of eBusiness solutions to the Saudi market. "The dedicated Oracle Development Center is the seed of a long-term partnership between Saudi Oracle and Silverline ", said Ashraf Zaki, President, Silverline Middle East & Africa. "Though the linkage of Silverline's local Arabian presence, with our global network of development centers, we create a win-win situation for Oracle and Oracle's customers. The Center in Riyadh is the initial phase for a series of similar center to cover the whole Middle East".

Gesco Corporation Board to consider Scheme of Arrangement

A meeting of the Board of Directors of Gesco Corporation Ltd has been convened on May 18, 2001 to consider the appointment of investment bankers, legal advisors and valuers in connection with, and as an initial step towards considering a Scheme of Arrangement between the Company and Mahindra Realty & Infrastructure Developers Ltd.

RBI approves increase in FII limit in HDFC to 49%

Housing Development Finance Corporation Ltd has informed BSE that the Reserve Bank of India has notified that the FIIs could acquire shares of HDFC in the secondary market upto 49% of the paid up equity share capital. The Limit earlier was 40% and FIIs were holding 39.10% of the paid up equity share capital.

Aptech AGM on June 19, 2001

Aptech Ltd has informed BSE that the Eighth Annual General Meeting of the Company will be held on June 19, 2001 at Mumbai.

Other Income helps Hindustan Motors post Rs 748.80 million net profit in Q4, FY-01 net loss at Rs 189.70 million

Hindustan Motors Ltd has reported a net profit of Rs 748.80 million in the quarter ended March 31, 2001 as compared to Rs a net loss of Rs 47.50 million in the same period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 5896 million as compared to Rs 5619.70 million in the quarter ended March 31, 2000. Net Loss for the year ended March 31, 2001 is at Rs 189.70 million as compared to a net loss of Rs 622.80 million for the year ended March 31, 2000. Total Income for the year ended March 14977.40 million as compared to Rs 15093.50 million in the year ended March 31, 2000. The Company has reported that the Earthmoving Equipment Division with factories at Tiruvallur and Pondicherry has been sold on February 09, 2001 to Caterpillar India Private Ltd as a going concern. The profit from the sale of this division amounting to Rs 1009.30 million has been included in the figures of "Other Income".

Federal Bank Q4 net down by 46.21%, FY-01 net up by 31.58%

Federal Bank Ltd has posted a net profit of Rs 168.60 million for the quarter ended March 31, 2001 as compared to Rs 313.40 million in the same period last year. Total Income is higher at Rs 2936.10 million in the quarter ended March 31, 2001 as compared to Rs 2866.40 million in the quarter ended March 31, 2000. Net Profit for the year ended March 31, 2001 stood at Rs 610.40 million as compared to Rs 463.90 million in the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 10442.70 million as compared to Rs 10140.90 million in the year ended March 31, 2000. The Board of Directors of the Bank has recommended a Dividend of 30% on equity shares subject to RBI approval.

Gujarat Ambuja Board to consider issue of shares on preferential basis

Gujarat Ambuja Cements Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on May 18, 2001 to consider issue of Equity Shares on preferential basis to persons other than promoters.

Aptech appoints new Additional Director

Aptech Ltd has informed BSE that Mr A.P.Kurian has been appointed as a Additional Director on the Board of the Company with effect from May 09, 2001.

TISCO FY-01 results by June 30,

Tata Iron & Steel Company Ltd (TISCO) has informed BSE that the Company will publish audited financial results, for the year ended March 31, 2001 before the end of June 2001 i.e. within three months from the close of the financial year. The unaudited financial results for the last quarter ended March 31, 2001 will, however, not be published.

BASF India FY-2001 results by June 30, 2001

BASF India Ltd has informed BSE that the Company will be publishing its audited financial results for the year ended March 31, 2001 within a period of 3 months from the end of the last quarter of the financial year 2000-2001 i.e. on or before June 30, 2001.

Wartsila India fixes Book Closure for the purpose of Dividend

Wartsila India Ltd has fixed the Book Closure from May 31, 2001 to June 06, 2001 for the purpose of AGM and 40% Dividend.

Corporation Bank FY-01 results by June 30, 2001

Corporation Bank has informed BSE that the Bank is making arrangements for publication of audited financial results for the year 2000-01 within a period of three months from March 31, 2001. Hence, the unaudited financial results for the quarter/year ended March 31, 2001 would not be published.

ITC to publish FY-01 results by June 30, 2001

ITC Ltd has informed BSE that the Company will be publishing the Audited Financial Results within a period of three months from the close of the financial year ended March 31, 2001. The Company will accordingly not be publishing/furnishing the Unaudited Financial Results for the fourth quarter ended March 31, 2001.

Wockhardt fixes Book Closure for the purpose of Dividend

Wockhardt Ltd has fixed the Book Closure from May 30, 2001 to June 04, 2001 for the purpose of AGM and Dividend.

CLB passes order in favour of United Western Bank rights issue

United Western Bank Ltd has informed BSE that the Company Law Board Principal Branch New Delhi in the matter of petition filed by some shareholders of the bank has passed the following order: 1. The Bank can implement the decision taken by its Board of Directors in their meeting held on August 8, 2000 to issue rights shares. 2. The EGM convened on November 24, 2000 on the basis of requisition received from aforesaid shareholders and which was deffered sine die by Company Law Board vide its order dated November 13, 2000 should be convened as if the requisition was received by the Bank on April 30, 2001 in pursuance of Section 169 of the Companies Act 1956. 3. The Board of Directors will be taking appropriate action in the above matters.

Otis Consortium make open offer to shareholders of Otis Elevator Co (India) at Rs 280 per share

Otis Mauritius Ltd, a Company registered under the laws of Mauritius along under the laws of Mauritius along with Otis Elevator Company (New Nersey), a Company registered under the laws of the state of New Jersey, USA, Otis Elevator Company (S) Pte, a Company incorporated under the laws of Singapore and Otis Elevator Company (H.K) Ltd, a Company registered under the laws of Hong Kong as persons acting in concert are making a voluntary offer to the public shareholders of Otis Elevator Company (India) Ltd to acquire upto 39,01,478 fully paid up equity shares of Rs 10 each representing 31.10% of the paid up equity share capital and being the balance outstanding equity share capital of Otis India at a price of Rs 280 per fully paid up equity share payable in cash. The offer is not conditional on any minimum level of acceptances. The Specified Date of the Open offer has been fixed as May 18, 2001. The offer would open on July 09, 2001 and would close on August 07, 2001.

Escorts Board approves sale of equity stake in Yahama Motor Escorts

The Board of Directors of Escorts Ltd, at its meeting held on May 15, 2001 has approved to sell the remaining 26% of its equity holding in Yamaha Motor Escorts Ltd to Yamaha Motor Co Ltd, Japan.

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