Saw Pipes Ltd has posted a net profit of Rs 423.37 million for FY-02 ended on September 30, 2002 comprising of 15 months. The company had reported a net profit of Rs 293.49 million for FY-01ended on June 30, 2001comprising of 12 months.
Total Income for FY-02 is at Rs 7499.47 million whereas the same was at Rs 3679.32 million in FY-01.
The company posted a net profit of Rs 183.07 million for quarter ended September 30, 2002 as compared to Rs 54.90 million for quarter ended September 30, 2001. Total income for quarter ended September 30, 2002 is at Rs 2184.36 million as compared to Rs 1535.07 million in quarter ended September 30, 2001.
The Directors have also recommended a dividend of Rs 1.50 (15 %) per equity share of Rs 10 each for the period ended September 30, 2002.
NIIT acquires German IT Services Group
NIIT Ltd has today (November 14, 2002) announced its 4th acquisition in the year by taking over AD Solutions AG (ADS), a privately held company with headquarters in Germany and subsidiaries in Switzerland and Austria. ADS, founded in 2000 through the management buy-out of a division of CGI Informatik GmbH, an IBM subsidiary, specializes in developing custom solutions and providing development outsourcing services.
NIIT Technologies, the software business of NIIT, is steadily building its global footprint and scale. "This acquisition is a key element of our strategy to address the hitherto under-penetrated European market", said Mr. Arvind Thakur, Director & President of NIIT Technologies.
"It will enable NIIT Technologies to effectively address the over $27 billion IT services market in Germany, Switzerland and Austria," he added.
The acquisition adds to NIIT a successful executive team and an experienced consulting team of 75 professionals. ADS will be a wholly owned subsidiary of NIIT with Mr. Rolf Stephan and Mr. Thomas Koller as its Executive Directors.
GoI appoints new Director on IDBI board
Industrial Development Bank of India has informed BSE that Govt of India, vide notification dated October 31, 2002 has nominated Ms Vineeta Rai, Secretary (Banking & Insurance), Ministry of Finance, Department of Economic Affairs, GoI as a Director of the company with effect from October 31, 2002.
TISCO Director expires
Tata Iron and Steel Company Ltd has informed BSE that on his demise on October 28, 2002, Mr Mantosh Sondhi has ceased to be a Director of the company.
Timken India Director expires
Timken India Ltd has informed BSE that on his demise on October 29, 2002, Mr Mantosh Sondhi in Bangalore has ceased to be a Director of the company.
Super Tannery members approve 10 % dividend for FY-02
Super Tannery (India) Ltd has informed BSE that members of the company have approved a dividend of 10% at the AGM held on November 14, 2002.
Rainbow Papers announces change in management structure
Rainbow Papers Ltd has informed BSE that Kamlesh J Shah has resigned as Director and Company Secretary of the company with effect from October 31, 2002
Runel Baldwa has been appointed as Company Secretary of the company with effect from October 31, 2002.
PNB Gilts applies to Sebi for merchant banking licence
PNB Gilts Ltd has informed BSE that the company is planning to diversify its business operations into Merchant Banking activities as well.
The company has applied to SEBI for a Merchant Banking Licence.
Saurashtra Cement to seek members' approval for preferential issue
Saurashtra Cement Limited has informed BSE that the AGM of the company is scheduled to be held on December 24, 2002 to Issue further capital on preferential basis to New India Assurance Co. Ltd. and United India Insurance Company Ltd aggregating 30,074 Loan Instruments of Rs 100 each.
Wockhardt and Harvard launch comprehensive training for HIV/AIDS care providers
Wockhardt Ltd has informed BSE that Harvard Medical International, Boston, USA and Wockhardt Group has announced the launch of a comprehensive educational programme to train doctors, nurses and counsellors in not just the prevention of HIV / AIDS but also the diagnostics and management of HIV / AIDS.
Harvard Medical International (HMI), the international arm of Harvard Medical School and Wockhardt have created a non-profit organisation called Wockhardt-HMI HIV / AIDS Education and Research Foundation (WHARF) to upgrade the knowledge and skills of direct care providers in HIV / AIDS.
The first city chosen for its launch in December this year is Mumbai, which is amongst the most affected metros in the country.
ISO 9002 covers functional working of Jindal Strips fixed deposit section
Jindal Strips Ltd has informed BSE that ISO 9002 certificate now covers functional working of Fixed Deposit Section of the company - first time in India for a manufacturing company by British Standards Institution (BSI).
Megasoft board approves delisting of equity shares from ASE
Megasoft Ltd has informed BSE that the Board of Directors at its meeting held on November 08, 2002 has resolved the delisting of equity shares from the Ahmedabad and / or Hyderabad Stock Exchanges subject to approval of the members at the ensuing AGM.
PCS Industries to seek members' approval for increase in authorised share capital
PCS Industries Ltd has informed BSE that the EGM of the company is scheduled to be held on November 30, 2002 to approve increase in Authorised Share Capital of the company.
ACC clarifies on news item
With reference to news published in a leading financial daily regarding rumours of an open offer announcement Associated Cement Companies Ltd has clarified that in absence of any substantive information, the company cannot offer any comments on the same.
Raymond clarifies on news item
With reference to news published in a leading financial daily Raymond Ltd has clarified that the 24.03 % stake in Zurich Asset Management Company (India) Pvt Ltd is not held by the company but by its unlisted subsidiary. The company has also clarified that the transaction mentioned in the news item has not been concluded.
Liberty Oil Mills to provide an exit option to existing shareholders
BSE has informed its members that securities of Liberty Oil Mills Ltd will be struck-off (delisted) from the list of Officially Quoted Securities with effect from November 18, 2002 pursuant to the compliance with Clause 21(3)(a) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 by the Acquirers, Liberty Investments Pvt Ltd and Mr Parvez Hamza Kader).
The Acquirers have agreed to provide an Exit Option to the existing shareholders at Rs 30/- per share at any time during one year from the date of delisting. The shareholders who desire to opt for the Exit Option will have to send their shares to the undermentioned address:
Liberty Investments Pvt. Ltd.
Amerchand Mansion, 'D' Wing,
16, Madame Cama Road,
Colaba, Mumbai 400 001.
The company has also agreed to resolve investor complaints (if any) pending and received hereafter for a period of one year from the date of delisting to the satisfaction of BSE.
SAPML director resigns
Shree Ambeshwar Paper Mills Ltd has informed BSE that S M Gosar has resigned as director of the company.
SRPML directors resign
Shree Rajeshwaranand Paper Mills Ltd has informed BSE that Kirit N Modi, Sunderji M Gosar and D A Dave have resigned as directors of the company.
Mukunda Indl finance director resigns
Mukunda Industrial Finance Ltd has informed BSE that Sri R P Agarawal has resigned as director of the company.
Indbank nullifies forfeiture of equity shares
BSE has informed its members that Indbank Merchant Banking Services Ltd has annulled the forfeiture of 200 equity shares which were earlier forfeited by the company due to non-payment of allotment/call monies.
LML appoints a nominee director
LML Ltd has informed BSE that Board of Directors of the company has appointed Dasu Govind Prasad as Nominee Director of Export-Import Bank of India at its meeting held on October 31, 2002.
Aryan Pesticides announces change in management structure
Aryan Pesticides Ltd has informed BSE that J N Tawakley, K S Natrajan and S J Tawakley ceased to be Directors of the company upon resignation.
HCL Tech clarifies on media reports
In response to media reports concerning HPS in the press and in the interest of the investing public, HCL Technologies Ltd has clarified that to protect the interests of HCL Perot Systems Ltd (HPS), legal remedies have been pursued.
A suit seeking relief against the action of directors nominated by Perot Systems Corporation (PSC) in HPS, came up for hearing before the Delhi High Court on November 11, 2002.
The court passed an order of injuction restraining HPS Ltd from making any change in the status and position of its CEO and COO, at the next Board Meeting scheduled for November 14, 2002.
HPS is a 50:50 Joint Venture between PSC and HCL Holdings Gmbh, a subsidiary of HCL Technologies.
Since the matter is subjudice, it would be inappropriate to comment on the merit of the dispute any further. We firmly believe that the present HPG management is committed to ensuring the highest standards of service and to preserve the value of the HPS franchise that they have grown painstakingly over the last few years.
Sunitee Chem to consider split up of face value of equity shares
Sunitee Chemicals Ltd has informed BSE that the meeting of Board of Directors is scheduled to be held on November 19, 2002 to consider the following business :
1. Split-up of Face Value of Share from Rs 10 to Rs 1.
2. Alteration of the Memorendum and Articles of Association of the Company.
3. Fixing the date of Extra-Ordinary General Meeting of the Company.
Sumedha Fiscal surrenders registration certificate as NBFC
Sumedha Fiscal Services Ltd has informed BSE that Reserve Bank of India by its letter dated October 30, 2002 intimated their approval to exit by the Company from the business of Non-Banking Financial Company with intimating effect and also that the Bank had no objection in converting the company from a Non-Banking Financial Company to a Non-Banking Non- Financial Company.
