With reference to a news article in a leading financial daily dated November 08, 2002 stating 'PNB seeks nod for Nedungadi ', Punjab National Bank has clarified that it has not submitted any plan to RBI as stated in the newspaper. The Bank has only sought some more information from RBI, reply for which is awaited.
Voltas to tap China, Singapore markets
With reference to a news article in a leading financial daily dated November 08, 2002 stating 'Voltas to enter China', Voltas Ltd has clarified the following:
1. As part of Voltas' plan to leverage its strengths in engineering electro-mechanical turnkey projects and its product exports, it is focusing on international markets - Singapore, Hong Kong and China. Towards this end, the Company has a distribution agreement with Jardine Engineering Limited, a Jardine Matheson Company, Hong Kong to sell the Voltas range of pumps in Hong Kong (SAR), China (PRC) and Macau.
2. The Company also plans to rope in KPMG for advising the Company on the best legal structure for establishing Voltas in China and to use it as the vehicle for doing business there.
3. Voltas through its International Operations Business Group is poised for a remarkable burst of growth in its overseas business in the next few years.
The Company today has an order-booking position worth Rs 10000 million, managed through the various offices in Abu Dhabi, Dubai, Hong Kong, Qatar and Singapore.
In addition to its own offices, the Division also operates through joint ventures in many locations. These include Saudi Ensas, Universal Voltas (Abu Dhabi) and Weathermaker (Jebel All).
The scope of work broadly covers electrical, mechanical, HVAC, public health, plumbing, fire fighting, building management and other state-of-the-art systems.
BSES clarifies on news item
With reference to news item published in a leading financial daily, BSES Ltd has clarified that as already discussed with the shareholders at the AGM of the company held on September 21, 2002, Oil and Natural Gas Corporation (ONGC) has offered to supply gas to company's proposed power project as Saphale. With regard to the supply of gas by Reliance Industries Ltd, the offer would take a concrete shape as and when RIL finalises the terms for the commercialisation of its gas discovery.
However, the company has further clarified that since the Saphale Project is yet to receive all the clearances, the matter is at a very preliminary stage.
Transmatic Systems ties up with Accel
Transmatic Systems Ltd has informed BSE that it has entered into an agreement for marketing distributing and servicing of the specified IT products of the company in specified territories with M/s. Accel Ltd.
IDBI Bank clarifies on media reports
With reference to reports in certain sections of the press about Mr Susheel Kak, Head - Corporate Banking of IDBI Bank Ltd resigning, the company has clarified that Mr Susheel Kak continues to be with IDBI Bank in his capacity as Head - Corporate Banking and rumors about his having put in his papers a few weeks back are incorrect.
Autolite India board forfeits equity shares
Autolite (India) Ltd has informed BSE that the Board of Directors of the company have forfeited 21055 equity shares in the meeting held on October 31, 2002.
BOC India signs settlement with Union
BOC India Ltd has informed BSE that they have signed a settlement with the Union representing the workmen of its closed Asansol plant, interalia, involving payment of compensation to the retrenched workmen of the said plant which was under litigation. As a part of this settlement, the company will also start new operations for filing of cylinders at Asansol on a small scale to cater to the business demand for medical and industrial cylinders in the Durgapur-Asansol belt.
Fitch assigns AA- (Ind) rating to Jindal Photo Films NCD program
Jindal Photo Films Ltd has informed BSE that the Fitch Ratings India Pvt Ltd have assigned an "AA-(ind) (Double A minus) rating to the Rs 500 million Non-Convertible Debenture (NCD) program of the Company. The outlook for the rating is stable.
High Court sanctions scheme of Arrangement between Kanthal India and Sandvik Asia
Kanthal India Ltd has informed BSE that the Hon'ble High Court of Karnataka has sanctioned the scheme of Arrangement between the company and Sandvik Asia Ltd on October 31, 2002.
Amtek Auto fixes record date for Bonus Issue
BSE has informed its members that Amtek Auto Ltd has fixed December 06, 2002 as record date for the purpose of Bonus Issue in the ratio of One Bonus Share for every One existing Equity Share held.
The transactions in Equity Shares of the company will be held on Cum-Bonus basis upto December 03, 2002 and the same will be held on Ex-Basis from December 04, 2002.
i-flex H1 net profit at Rs 892 million
i-flex Solutions Ltd has posted a net profit of Rs 891.91 million for the half year ended September 30, 2002 as compared to Rs 559.09 million in the half year ended September 30, 2001.
Net Sales have increased from Rs 1809.67 million in the half year ended September 30, 2001 to Rs 2684.61 million in the half year ended September 30, 2002.
Sanyei Mediquip Board to consider Bonus Issue
Sanyei Mediquip Ltd has informed BSE that the Board Meeting of the Company is scheduled to be held on November 20, 2002 to consider, interalia, issue of Bonus Shares to the shareholders subject to approval by the shareholders in the General Meeting.
Anand Electric Supply Co Board to consider Bonus Issue
Anand Electric Supply Company Ltd has informed BSE that the Board Meeting of the Company is scheduled to be held on November 20, 2002 to consider, interalia, issue of Bonus Shares to the shareholders subject to approval by the shareholders in the General Meeting.
Cairns Energy starts supply of gas to Gujarat Gas
Gujarat Gas Company Ltd had informed BSE that supply of Lakshmi gas led by Cairns has started from November 2002.
With gradual build up in gas quantities, Gujarat Gas has in addition to serving certain of its existing customers from this source, started selling an additional approx 0.5 million cubic meters of gas per day on a spot basis to a bulk customer in the power sector.
Sakthi Sugars seeks members approval to commence new business activity
Sakthi Sugars Ltd has informed BSE that the company is proposing to commence new business activities such as manufacture and bottling of aerated soft drinks and other beverages on amendment of Object Clause of Memorandum of Association for which members' approval is being sought by way of Postal Ballots.
The results of the postal ballots will be declared at the 41st AGM to be held on December 18, 2002.
Kennametal Inc to make an open offer to acquire 23.32 % equity stake in Widia India
J M Morgan Stanely (manager to the offer) has informed BSE that Kennametal Inc proposes to make an open offer to acquire up to 23.32 per cent of the outstanding fully paid up equity share capital aggregating to 5,124,480 fully paid up equity shares of Widia India Ltd at a price of Rs 76.28 per equity share payable in cash.
The Specified Date is November 15, 2002
The Date of Opening of the offer is January 6, 2003
The Date of Closing of the offer is February 4, 2003
Addi Industries declares offer price and specified date for Buy-back of Equity Shares
Addi Industries Ltd has informed BSE that the Board of Directors of the company at its meeting held on November 12, 2002 have declared Rs 20 as the Offer Price for Buy-back of Equity Shares of the face value of Rs 10 each. The Specified Date has been fixed as December 18, 2002.
BSE imposes special margin on 2 scrips
BSE has informed the members of the Exchange that Special Margin in the under mentioned scrip has been imposed as mentioned alongside with effect from today (November 13, 2002).
Special margin will be imposed on the basis of memberwise gross outstanding purchase or sale position (Clientwise net) as indicated below:
Scrip Code 512093
Scrip Name CRANES SOFTWARE LTD
Scrip Group Z
Special Margin Per Shares (%) 25
(Purchases)
Scrip Code 532081
Scrip Name GARNET PAPER MILLS LTD
Scrip Group Z
Special Margin Per Shares (%) 25
(Purchases)
