United Breweries clarifies on news item

With reference to news item "UB may dilute 14% stake in Asian Age" United Breweries Ltd has informed BSE that it does not hold any shares in Asian Age Holdings Ltd.

IPCL FY-01 net profit up by 31.79%

Indian Petroleum Corporation Ltd has posted a net profit of Rs 2489 million for the year ended March 31, 2001 as against Rs 1888.50 million last fiscal. Total Income for the year ended March 31, 2001 is at Rs 51736.90 million as compared to Rs 41721.40 million for the previous year ended March 31, 2000. The Board of Directors of the Company has recommended a Dividend @ 30% i.e. Rs 3 per equity share subject to the approval by the members in the Annual General Meeting. The Company has reported that the Polymer, Chemical and Fibre & Fibre Intermediate business, moved up by 15%, 12% and 52% respectively in terms of volume and 21%, 22% and 44% respectively in value of value. The Company's export growth in terms of volume and value was 50% and 70% respectively. The combined production of major salable products from the three complexes at Vadodara, Nagothane and Gandhar was 1.35 million metric tonnes as against 1.17 metric tonnes acheived in the previous year, registering an overall growth of 15%. The contribution of polymer, fibre & fibre intermediate and chemical group of products in the said production from all the three complexes during the period under review was 69%, 13% and 18% respectively, whereas the combined capacity utilization of all operating plants acheived during fiscal 2000-2001 was 98%. The Company has signed a MOU with the Government of India for the fiscal 2001-02, setting production target of 1.350 million metric tonnes and turnover of around Rs 56000 million.

Alfa Laval International AB makes open offer to shareholders of Alfa Laval at Rs 164 per share

SBI Capital Markets Ltd on behalf of Alfa Laval International AB (the acquirer) has announced an open offer to all the equity shareholders of Alfa Laval (India) Ltd (ALIL) to acquire upto 45,40121 fully paid up equity shares of face value of Rs 10/- each (representing 25% of the voting capital of the Company) at a price of Rs 164/- per fully paid up equity share, payable in cash. On August 24, 2000 the Acquirer, through its 100% subsidiary Alfa Laval Special Finance AB, entered into an amended and restated Share Sale and Purchase Agreement ("the Agreement) with Zarus Holding BV ("the Seller" now known as Tetra Laval BV) for purchase of 100% of the voting capital of Alfa Laval Credit Finance AB, which indirectly held 51% of the voting capital in Alfa Laval (India) Ltd through its subsidiary Alfa Laval AB. Hence, the Acquirer acquired an indirect control in ALIL. The Agreement was entered into to acquire the world-wide business and operations of the Seller's subsidiary Alfa Laval Credit Finance AB. For the purpose of the Offer, Industri Kapital 2000 (holding a controlling interest in the Acquirer) and Alfa Laval AB are deemed to be Persons Acting in Concert (PACs). The offer is not subject to any minimum level of acceptances and Alfa Laval AB will acquire all the valid fully paid up equity shares of ALIL that are tendered in terms of this offer upto a maximum of 45,40,121 equity shares. The Letter of Offer specifying the detailed the terms and conditions of this offer, along with a form of acceptance will be mailed to all the equity shareholders of ALIL whose names appear on the register of members of ALIL and the beneficiary owners of the shares of ALIL on the records of the respective Depositories at the close of business hours of June 20, 2001 (being the Specified Date for the Open Offer). The Offer will open on July 16, 2001 and will close on August 14, 2001.

Arisaig Partners (Asia) acquires 5.04% stake in Saregama India

Saregama India Ltd has informed BSE that Arisaig Partners (Asia) Pte Ltd A/c Arisaig Asian Small Companies Fund (Mauritius) Ltd has informed the Company vide Regulation 7(1) of the relative regulations of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations 1997 that they have acquired 5.04% of the paid up capital of the Company.

Dr Reddy's Q4 net at Rs 393.74 million, FY-01 net at Rs 1342.21 million

Dr Reddy's Laboratories Ltd has posted a net profit of Rs 393.74 million for the quarter ended March 31, 2001 as against Rs 175.99 million for the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 2488.84 million as compared to Rs 1239.35 million for the quarter ended March 31. 2000. Net Profit for the year ended March 31, 2001 is at Rs 1342.21 million as compared to Rs 603.20 million last fiscal. Total Income for the year ended March 31, 2001 is at Rs 8485.23 million as compared to Rs 4427.66 million for the year ended March 31, 2000. The Company has reported that the figures for the current period are not comparable with that of the previous period as they include the results of M/s. Cheminor Drugs Ltd pursuant to the approval of the scheme of merger by the Hon'ble High Court of Andhra Pradesh. The Board has recommended a Dividend of Rs 4 per share subject to the approval of the shareholders.

Mascot Systems further enhances ASEAN presence

Mascot Systems Ltd has announced today (May 30, 2001) that it has acquired 100% equity capital of Mastech Malaysia Sdn Bhd , a software services Company based in Malaysia for a consideration of US$ 300,000. Mascot has offered to acquire Mastech Malaysia from iGATE Capital Corporation its parent group on the basis of the complementary extension of its footprint and the synergistic operating advantages that the acquisition brings to Mascots presence. The strategic acquisition of Mastech Malaysia is in line with Mascots initiative to leverage global business opportunities and enhances the company presence in the ASEAN region. Mastech Malaysia currently maintains active relationships with clients in Malaysia and Singapore, including a Fortune 100 Company already on Mascots client list and reported revenues of US$ 850,000 during January -December 2000.The acquisition also brings with it 34 software professionals who work on these clients accounts. The acquisition thus represents an efficient extension of regional client relationship and further provides Mascot the opportunity to exploit the growth potential of the Malaysian market while consolidating operations in Singapore. The acquisition presents a strong value proposition to the Mascot organisation through immediate accretion to revenues, local cost advantages and tax holiday status as a result of being located in the Malaysian Super Corridor. The operation in accordance with the Company's overall strategy will further seek to leverage Mascot's world class offshore delivery infrastructure to transfer existing relationships offshore as well as create further opportunities in the region

Cummins FY-01 results on June 11, 2001

A meeting of the Board of Directors of Cummins India Ltd will be held on June 11, 2001 for the consideration of audited results of the Company for the financial year ended March 31, 2001. The aforesaid meeting will also consider recommendation of dividend for the same year.

Nirma fixes book closure for the purpose of Dividend

Nirma Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 18, 2001, has decided to close the Register of Members and Share Transfer Books of the Company from July 16, 2001 to July 28, 2001 (both days inclusive) for the purpose of determining the right of the equity shareholders of the Company to receive dividend for the year 2000-01 and for the purpose of Annual General Meeting. The Board of Directors of the Company has recommended a Dividend of 35% i.e. Rs 3.50 per share subject to the shareholders approval.

Chennai Petro Q4 net down by 41.20%, FY-01 net down by 14.47%

Chennai Petroleum Corporation Ltd has posted a net profit of Rs 381 million for the quarter ended March 31, 2001 as against Rs 648 million for the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 19305.90 million as compared to Rs 16634.30 million for the quarter ended March 31, 2000. Net Profit for the year ended March 31, 2001 is at Rs 1224.30 million as compared to Rs 1431.40 million for the year ended March 31, 2000. Total Income for FY-01 is at Rs 71807.40 million as compared to Rs 55530.50 million for FY-00.

Paramount Communications Q4 net down by 18.71%, FY-01 net up by 14.48%

Paramount Communications Ltd has reported a net profit of Rs 12.57 million for the quarter ended March 31, 2001 as against Rs 15.47 million for the quarter ended March 31, 2000. Total Income for the quarter ended March 31, 2001 is at Rs 513.53 million as compared to Rs 376.21 million for the quarter ended March 31, 2000. Net Profit for the year ended March 31, 2001 is at Rs 49.25 million as against Rs 43.02 million for the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 1630.32 million as against Rs 1296.98 million for the year ended March 31, 2000. The Board of Directors of the Company has recommended a Dividend of 16% (Rs 1.60 per equity share of Rs 10 each) The 1.20 million equity shares issued during the year on March 21, 2001 will be entitled to receive pro-rata Dividend.

ITC FY-01 net up by 26.98%

ITC Ltd has posted a net profit of Rs 10062.60 million for the year ended March 31, 2001 as against Rs 7924.40 million for the year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 43415.90 million as against Rs 39354.80 million for the year ended March 31, 2000. The Board of Directors of the Company has recommended a dividend of Rs 10.00 per ordinary share for the financial year ended March 31, 2001.

Modi Rubber Open Offer price revised to Rs 81.50 per share

HSBC Securities & Capital Markets (India) Private Ltd has informed BSE that the Proposed Open Offer to acquire upto 8764186 fully paid up equity shares 10/- each of Modi Rubber Ltd (MRL) constituting 35% of the Equity Share Capital (and voting rights) of Modi Rubber Ltd by Mr V K Modi, Dr B K Modi Fashions and Securities Private Ltd and Modikem Ltd in concert with Witta International Inc. and Sidh International Ltd in terms of the provisions of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 1997 and subsequent amendments thereto ("Takeover Regulations") has been revised upwards from Rs 80 per share to Rs 81.50 per share. The Specified Date for the Open Offer remains the same i.e. March 31, 2001. The offer will now open on June 02, 2001 and close on to July 03, 2001 instead of May 16, 2001-June 14, 2001 fixed earlier.

Bank of India FY-01 results on June 06, 2001

A meeting of the Board of Directors of Bank of India is scheduled to be held on June 06, 2001 to consider and approve the annual accounts of the Bank and declare dividend, if any, for the financial year ended March 31, 2001.

Bombay Dyeing appoints Director

Bombay Dyeing & Mfg. Company Ltd has informed BSE that Mr.Anil K.Hirjee has been appointed as a Director of the company with immediate effect in the casual vacancy caused by the death of Mr.H.R.Thanawala.

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