Taking umbrage at news reported in the November edition of Pharma Pulse, the Ind Swift Group denied that it was close to acquiring the Mumbai based Sigma Laboratories Ltd.
"We are looking at companies with a synergic fit with us and having regulatory approvals for acquisitions and alliances. Though Sigma is one of the companies, we are looking at, but nothing has been finalized. The news report is biased and for too pre-mature. We are still looking at other companies and will announce our decision shortly" clarified Shri V K Mehta Joint Managing Director Ind-Swift Group."
Honda Siel director dead
Honda Siel Power Products Ltd has informed BSE that Mantosh Sondhi, Director of the company expired on October 29, 2002.
Fem Care Pharma to introduce new products in the market
Fem Care Pharma Ltd has informed BSE that the company is planning to introduce Uproot, Hot Wax, Cold Wax, Clearway Facial Wax Strips And Body Wax Strips and OXY BLEACH as Over the Counter Products.
The company's Pharma Division is also planning to introduce Viscoril, Rinofix, Travoral, Restoderm and Keralice in the market.
MAGFIL board mulls rights issue
Mannappuram General Finance and Leasing Ltd has informed BSE that a meeting of the Board of Directors is scheduled to be held on November 15, 2002 mainly to consider and finalise the terms & conditions of Right Issue of Equity Shares.
Silver Smith India director resigns
Silver Smith India Ltd has informed BSE that Ms Sidhi Narula has resigned from the Board of Directors with effect from October 25, 2002.
The company is also interested in having strategic alliance either with Indian or Foreigner Partner. Board of Directors has authorised Mr B K Narula, Managing Director to look for strategic partner in India or in Foreign.
Jaypee Hotels appoints new MD
Jaypee Hotels Ltd has informed BSE that Shri S G Awasthi has been appointed by the Board of Directors of the Company as Managing Director of the company with effect from November 01, 2002 in the Board Meeting held on October 30, 2002.
HMT announces Q2 results
HMT Ltd has posted a net loss of Rs 200.10 million for the quarter ended September 30, 2002 as compared to a net loss of Rs 116.40 million in the corresponding period last fiscal. Total Income has decreased from Rs 735.50 million in the quarter ended September 30, 2001 to Rs 296.80 million in the quarter ended September 30, 2002.
Siemens FY-02 results on November 22
Siemens Ltd has informed BSE that a meeting of the Board of Directors of the company will be held on November 22, 2002 to consider the Audited Financial Results for the year ended on September 30, 2002 and to recommend final dividend on Equity Shares.
Bluestar Infotech Ltd has informed BSE that its Bangalore development center has been assessed at Level 5 of the Software Capability Maturity Model (Version 1.1) of the Software Institute for its software development, maintenance and testing center. The assessment was led by KPMG. Globally there are only 74 companies that have been assessed at CMM Level 5.
Bajrang Finance fixes record date for right issue
Bajrang Finance Ltd has informed BSE it has fixed December 2, 2002 as the record date for the purpose of issue of Right Shares for Rs 5 million.
Kuberkamal Ind Invest fixes record date for right issue
Kuberkamal Industrial Investments Ltd has informed BSE it has fixed December 2, 2002 as the record date for the purpose of issue of Right Shares for Rs 5 million.
Remi Securities fixes record date for right issue
Remi Securities Ltd has informed BSE it has fixed December 2, 2002 as the record date for the purpose of issue of Right Shares for Rs 5 million.
Sri Vishnu Cement appoints new MD
Sri Vishnu Cement Ltd has informed BSE that the Board of Directors of the company at their meeting held on Mr Raman Pandya has been appointed as Managing Director of the company with effect from November 15, 2002 for a period of 3 years.
ICI India members approve transfer of its Catalyst Business to Johnson Matthey Group, UK
ICI India Ltd has informed BSE that the shareholders' approval through Postal Ballot for transfer of company's Catalyst Business to Johnson Matthey Group, UK has been received. This has been announced at the meeting held in Kolkata on November 12, 2002.
The resolution was passed by the shareholders through Postal Ballot with an overwhelming majority of 99.99 % votes.
Consequent to this approval the transfer of business will be completed in due course in terms of the Business Transfer Agreement.
Hindustan Tin Works appoints new director
Hindustan Tin Works Ltd has informed BSE that Mr Harish Malhotra is appointed as a Director of the company in place of Mr P V Narayanan, who retired in the 44th AGM of the company held on September 30, 2002
Shaw Wallace makes open offer to acquire up to 9.98 % equity stake in SKOL Breweries
JM Morgan Stanley Pvt Ltd has informed BSE that Shaw Wallace Breweries Ltd ("Acquirer") propose to make an open offer under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 to acquire 9.98 % of the outstanding subscribed and issued equity share capital aggregating to 3,322,814 fully paid up equity shares of SKOL Breweries Ltd at a price of Rs 38.07 per equity share payable in cash.
JM Morgan Stanley has been appointed as mangers to the offer.
The specified date is November 12, 2002
The Date of Opening of the offer is January 10, 2002
The Date of Closing of the offer is February 08, 2003
SKOL Breweries allots equity shares on preferential basis
SKOL Breweries Ltd has informed BSE that the Board of Directors at its meeting held on November 08, 2002 has decided to allot 20,600,000 Equity Shares of Rs 10/- each fully paid up in the company to Shaw Wallace Breweries Ltd, the holding company, at a price of Rs 20/- per share (including Rs 10/- per share as premium).
Sabero Organics board approves allotment of shares to ICICI as per terms of restructuring
Sabero Organics Gujarat Ltd has informed BSE that the Board of Directors at its meeting held on October 31,2002 have approved to allot 123400 equity shares of Rs 10/- each fully paid , aggregating to Rs 12,34,000 to ICICI as per the terms of restructuring and rescheduling.
Kinetic Engineering enters into strategic alliance with AIFSPL
Kinetic Engineering Ltd has informed BSE that Kinetic Finance Ltd has entered into a strategic alliance with Associates India Financial Services Pvt Ltd for financing of two wheelers and distribution of other retail finance products.
Kinetic Motor Ltd and the company will also be a party to this alliance.
Dewan Rubber Industries revokes dividend for the year 1995-1996
Dewan Rubber Industries Ltd has informed BSE that the Board of Directors at its meeting held on October 30, 2002 have decided the revocation of the Dividend for the year 1995-1996 and re-instatement of the authorised capital of the company from Rs 500 million to Rs 250 million.
Apollo Hospitals H1 results on November 28
Apollo Hospitals Enterprise Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 28, 2002 to consider interalia and approve the Audited Financial Results for the Half year ended September 30, 2002 and the same will be published on or before November 30, 2002.
Sterling Biotech board meeting postponed
Sterling Biotech Ltd has informed BSE that the Board meeting for consideration of issue of Shares on preferential basis, which was scheduled to be held on November 11, 2002 is postponed.
GSFC completes DAP expansion project
Gujarat State Fertilizers & Chemicals Ltd has informed BSE that its DAP Expansion Project - Train "C" of the capacity of 3,96,000 tonnes per annum at Sikka Unit along with Offsite Facilities has been completed and commercial production has commenced from October 23, 2002.
GlaxoSmithKline Pharma to appoint new MD
GlaxoSmithKline Pharmaceuticals Ltd has informed BSE that S Kalyanasundaram will be appointed as Managing Director of the company with effect from January 1, 2003.
Kalyanasundaram is Director of the company since October 2000.
Electrolux Kelvinator MD to resign
Electrolux Kelvinator Ltd has informed BSE that Mr Ram S Ramasundar, Managing Director & Chief Executive Officer of the company has announced that he will resign as the Managing Director & Chief Executive Officer of the company in the end of this year.
Further, it is proposed that Mr Rajeev Karwal will take over as Chief Executive Officer of the company in January 2003 with overall responsibility for the company's operations.
The company has also informed that these proposals shall be taken up at the succeeding meeting of the Board of Directors / Sub-Committee of the Board.
ACC October cement despatches up 4.49%
Associated Cement Companies Ltd has informed BSE that Company's production and despatch figures in October, 2002 were as follows:
October 2002 Cement Production -- 1.141 million tonnes
Cement Despatches -- 1.094 million tonnes
October 2001 Cement Production -- 1.023 million tonnes
Cement Despatches -- 1.047 million tonnes
Cumulative production and despatches from April 2002 to October 2002 are:
April-October 2002 Cement Production -- 8.050 million tonnes
Cement Despatches -- 8.013 million tonnes
April-October 2001 Cement Production -- 6.857 million tonnes
Cement Despatches -- 6.876 million tonnes
Wipro to acquire global energy practice of AMS
Wipro Ltd has informed BSE that it entered into a definitive agreement to acquire global energy practice of American Management Systems for an aggregate consideration of $26 million payable in cash.
This move strengthens Wipro's IT service offerings in the Energy and Utility space.
Wipro's Energy & Utilities practice has been growing rapidly in the last few years with 1000 consultants servicing clients across USA and Europe in both regulated and de-regulated markets.
The global energy practice, acquired by Wipro has a team of 90 domain experts and IT consultants across USA and Europe.
The acquisition complements Wipro Technologies' intellectual capital in the areas of complex billing and settlement in energy markets, system integration, enterprise application integration and providing program management capabilities to company's clients.
The acquisition brings to Wipro more than 50 client relationships with 15 active engagements across Europe and USA.
Sheetal Securities to allot equity shares on SWAP basis
Sheetal Securities Finance Ltd has informed BSE that a Board Meeting is scheduled to be held on November 19, 2002 to allot shares to shareholders of Yash Estate and Developers Pvt Ltd on SWAP basis.
Kajaria Iron Castings appoints new Directors
Kajaria Iron Castings Ltd has informed BSE that it has appointed Mr P K Paul and Mrs Anushree Kajaria as directors of the company with effect from November 8, 2002.
Toubro Infotech appoints Company Secretary
Toubro Infotech and Industries Ltd has informed BSE that S S Puri has been appointed as Company Secretary of the company with effect from October 16, 2002
Kolar Info Tech board recommends 10 % dividend for FY02
Kolar Information Technology Ltd has informed BSE that the Board has recommended Dividend @ 10 % to the Equity Shareholders of the Company for the financial year ended June 30, 2002 in its meeting held on November 11, 2002. The same shall be placed for approval by the Members at the ensuing General Meeting to be held on December 30, 2002.
Nestle fixes record date for Interim Dividend
Nestle India Ltd has informed BSE that December 11, 2002 has been fixed as a record date for determining the entitlement of the shareholders to the interim dividend for the year 2002, if any, as may be declared by the Board of Directors at a later date.
UTI Bank appoints Alternate Director
UTI Bank Ltd has informed BSE that Shri J M Trivedi has been appointed as an alternate director to Shri Donald Peck with effect from November 2, 2002
Tata Elxsi appoints new Additional Director
Tata Elxsi Ltd has informed BSE that Prof S Sadagopan has been appointed as an Additional Director of the company at the Board Meeting held on October 30, 2002.
Nipuna appoints new COO and senior management team
Nipuna Services Ltd, the BPO subsidiary of Satyam Computer Services Ltd announced the appointment of Mrs Ram Ramasundar as COO of the company.
Further the company has also appointed Venkaswamy Nagendra as Chief Marketing Officer and M Satyanarayana as Chief Marketing Officer of the company.
Thermax H1 net at Rs 93 million
Thermax Ltd has posted a net profit of Rs 93 million for the half year ended on September 30, 2002 as compared to a Profit of Rs 36.9 million for the corresponding period in the last fiscal. Total income has increased from Rs 1978 million in the half year ended September 30, 2001 to Rs 2553.8 million for the half year ended September 30, 2002.
The Board of Directors has approved the appointment of Ms Meher Pudamjee as Vice-Chairperson of the Company.
BILT fixes record date for payment of interest on FCDs
Ballarpur Industries Ltd has informed BSE that it has fixed December 13, 2002 as the record date for payment of interest on 9.5 % Fully Convertible Debentures of Rs 304 each for the period from the date of allotment viz July 16, 2002 to January 15, 2003.
Technip Coflexip & Coflexip Stena Offshore make open offer to acquire 20% equity stake in South East Asia Marine Eng & Const
South East Asia Marine Engineering and Construction Ltd (SEAMEC) has informed BSE that Technip Coflexip (TC) ("Acquirer") and Coflexip Stena Offshore (Mauritius) Ltd (CSOML) ("Person Acting in Concert") are making an open offer to the shareholders of the company as per SEBI order dated September 9, 2002 read with Securities Appellate Tribunal dated October 25, 2002 to acquire a maximum of 6780000 fully paid up equity shares of the company representing 20 % of the outstanding equity share capital of SEAMEC at a price of Rs. 43.12 per equity share and Rs 8.35 per equity share being the interest at rate of 15 % per annum for the period from November 1,2001 to February 14,2003.
CSOML is person acting in concert with TC for the purpose of this offer.
TC does not own and/or control any equity capital in SEMAEC whether by itself or through any person acting in concert with it, other than the 58.24% comprising 19,742,750 equity shares of SEAMEC issued, subscribed & paid up equity capital held through its deemed acquisition of CSMOL.
The specified date is November 15, 2002
The Date of Opening of the offer is December 19, 2002
The Date of Closing of the offer is January 17, 2003
Colgate Palmolive fixes record date for interim dividend
Colgate Palmolive (India) Ltd has fixed December 10, 2002 as record date for purpose of interim dividend for financial year 2002-03, if declared.
Sujana Steels to issue equity shares/warrants through preferential allotment
Sujana Steels Ltd has informed BSE that the Board of Directors at its meeting held on October 31,2002 resolved as follows:
1. To create, issue, offer, allot equity shares and/or warrants compulsorily convertible into equity shares at a later date and / or any other financial instruments compulsorily convertible into equity shares at a later date, either through public issue and/or rights or through preferential allotment.
2. To alter the Main Objects clause by inserting the activities to carry on the business of agriculture and allied products and precious metals and other related products.
3. To make loans, investments and to give guarantee or provide security.
4. To issue/offer preferential shares.
5. Approval of draft directors' report and draft notice for the forthcoming Annual General Meeting.
Sujana Industries to issue equity shares/warrants through preferential allotment
Sujana Industries Ltd has informed BSE that the Board of Directors at its meeting held on October 31, 2002 resolved as follows:
1. To create, issue, offer, allot equity shares and/or warrants compulsorily convertible into equity shares at a later date and / or any other financial instruments compulsorily convertible into equity shares at a later date, either through public issue and/or rights or through preferential allotment.
2. To alter the Main Objects clause by inserting the activities to carry on the business of agriculture and allied products and precious metals and other related products.
3. To make loans, investments and to give guarantee or provide security.
4. To issue/offer preferential shares.
5. Approval of draft directors' report and draft notice for the forthcoming Annual General Meeting.
6. To keep the statutory records at the office other than registered office.
MICO to seek members approval for commencement of new business activities
Motor Industries Co Ltd has informed BSE that an Extraordinary General Meeting of the shareholders of the company is scheduled to be held on December 5, 2002 to receive the approval of the shareholders to commence business relating to Communications, Security and Imaging Systems.
i-flex becomes first Indian Software company to be certified according to SAS 70 audit standards
i-flex Solutions Ltd on Monday announced that it has recently completed a successful SAS 70 audit. The SAS 70 audit is based on a globally accepted accounting standard, developed and maintained by the American Institute of Certified Public Accountants (AICPA). A SAS 70 audit provides software organizations an independent review of the adequacy of their internal controls relating to software development and maintenance. Ernst & Young was the independent service auditor who conducted this audit at i-flex development centers in India and the report was issued by the Atlanta office of Ernst & Young.
Vysya Bank director resigns
Vysya Bank Ltd has informed BSE that The Board of Directors through a Circular Resolution passed on November 9, 2002 has noted the resignation of Mr Leo Willy Janssen, nominee of ING from the Board of the Bank.
VSNL clarifies on news item
With reference to the news article appearing in a leading daily, Videsh Sanchar Nigam Ltd has informed BSE that it has entered into arrangements with ITXC and Starlink for exchange of traffic in its ordinary course of business.
BSE revises special margin on 42 scrips
BSE has informed the members of the exchange that the following scrips will attract Special Margins as indicated hereunder with effect from Monday. The rates of Special Margins have been revised keeping in view the closing price of the scrip on the last day of the settlement. Members are hereby informed that special margins will be imposed on the basis of memberwise gross purchase or sales position (clientwise net) as indicated below:
Code-------Name-------Group-------Per Share(Purchase)(%)-------Per Share(Sale)(%)
532311------- Amex Information------- B2------- 25
531823------- Arvind Remedy------- B1------- 25
532113------- Brijlaxmi Le------- B2------- 25
508814------- Cosmo Films------- B2 ------- 25
532099------- Database Fin------- B2------- 25
532365------- Dynacon System------- B2--------------------- 25
505200------- Eicher Motor------- B1------- 25
500128------- Electrosteel Ca ------- B1------- 25
506156------- ETC Networks------- B2--------------------- 25
511744------- FCGL Industries------- B2--------------------- 25
532326------- Fortune Info------- B2------- 25
531399------- G G Automative------- B2------- 50
500655------- Garware Poly------- B2------- 25
506109------- Genesys Inter------- B1------- 25
503699------- Geodesic Inf------- B2------- 25
507732------- Godavari Fert------- B2------- 25
532129------- Hexaware------- B1------- 25
524652------- Ind Swift------- B1------- 25
500207------- Indo Rama Syn------- B1------- 25
532010------- Indotech Capita------- B2------- 25
500213------- Inter Travel------- B1------- 25
531816------- IT Microsystem------- B2------- 25
532256------- Jindal Strips------- B1------- 25
532283------- Kashyap Radiant ------- B2------- 25
500241------- Kirloskar Bros------- B1------- 25
517471------- KTL Infosys------- B2------- 25
532275------- Landmarc Leisur------- B1------- 25-------------- 25
500265------- Maharashta Seam------- B1------- 50
524794------- Matrix Labs------- B2------- 50
512267------- Media Matrix------- B2------- 25-------------- 25
524101------- Nalco Chemical------- B1------- 25
532091------- Orbit Multi------- B2------- 25-------------- 25
531512------- Orient Trade------- B2------- 25
532114------- Pan Packaging------- B2------- 25
522205------- Praj Industries------- B2------- 25
531611------- Prraneta Inds------- B2------- 50
532055------- Rashel Agrotech------- B2------- 25
513583------- S B & T------- B1------- 25
523083------- Somplet ------- B2------- 25
532468------- Srf Polymers------- B2------- 25
531554------- Top Telemedia------- B2-------------- 25
524802------- Veronica Labs------- B2 ------- 25
Orchid Chem's flagship product Cephalexin audited by US FDA
Orchid Chemicals and Pharmaceuticals Ltd has informed BSE that the company has gone through the audit by the US FDA of company's flagship product Cephalexin being manufactured at Alathur Works, Tamilnadu successfully.
Rolta receives award from Forbes Global in Hongkong
Rolta India Ltd has informed BSE that it has been ranked by Forbes Global amongst the top 200 Best Companies in the World. Company received the award at a formal ceremony held in HongKong by Forbes Global. The Chairman and Managing Director of Rolta India, Mr K K Singh attended the formal ocassion as a special invitee of Forbes Global.
Although Forbes Global raised the bar of inclusion on the list from US$ 500 million (annual sales) to US$ 1 Billion, thirteen Indian companies have made it to this year's list as against ten companies in the 2001 list.
Compudyne Winfosystems Multimedia Division wins award for Best Visual Effects
Compudyne Winfosystems Ltd has informed BSE that Digital Art Media, the Multimedia Division of the company has won the prestigious award for "Best Visual Effects" in Movie category for its work in Devdas, "Silsila ye Chaahat Ka" Diya Song for Digital Flame.
