Innosoft Technologies Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 20, 2002 to consider the proposal to acquire 100 equity of Garapati Telefilms Pvt Ltd and to discuss the other formalities in connection with this proposal.
Khyati Multimedia plans stock-split
Khyati Multimedia Entertainment Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 19, 2002 to consider Stock Split and Issue of Shares on Preferential Allotment Basis.
Govt of India proposes to amalgamate Nedungadi Bank with PNB
Punjab National Bank has informed BSE that with reference to Order of Moratorium on the Nedungadi Bank Ltd for the period from the close of business on November 2, 2002 upto and inclusive of February 1, 2003, RBI has informed PNB that during the period of moratorium Govt. has proposed to amalgamate Nedungadi Bank Ltd with PNB and a 'draft scheme' of amalgamation prepared by RBI has been sent to PNB.
The RBI has desired that the bank may submit its suggestions / objections to the draft scheme by November 30, 2002.
The draft scheme is being examined by the bank.
Dr Reddy's to present research findings at American Heart Association 2002
Dr Reddy's Laboratories Ltd has informed BSE that Novel Drug Discovery Research findings made by The company's research center at Atlanta have been selected for presentation at the American Heart Association's Annual Scientific Sessions to be held in Chicago from November 17-21, 2002. These meetings will host over 10000 medical scientists and will unveil cutting-edge research in cardiovascular disease through oral and poster presentations.
Dr. Reddy's presentation will be delivered in a special Featured Research Oral Session titled "Intrinsic and Therapeutic Regulation of Intimal Hyperplasia" on November 20, 2002. Novel therapeutic approaches to cardiovascular disease will be presented at this session. Dr. Reddy's presentation will showcase the role of an intracellular signaling protein in uncontrolled smooth muscle proliferation, a process that triggers cardiovascular disorders including restenosis and atherosclerosis.
Dr. Reddy's will also make an oral presentation at the same meeting on November 18, 2002. This presentation will highlight the role of this intracellular signaling protein in the expression of pro-inflammatory genes. Aberrant expression of these genes results in the progression of a number of inflammatory diseases, including atherosclerosis, arthritis, inflammatory bowel disease, septic shock and asthma.
BPCL
Splash Media Works Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 23, 2002 to consider rights issue of equity shares in the ratio of 2:5 i.e. two equity shares for every five equity shares and calling of Extra Ordinary General Meeting.
Asian Electronics to consider scheme of amalgamation of Asian Electronic Components with the company
Asian Electronics Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 18, 2002 to consider and approve the scheme of arrangement of amalgamation of Asian Electronic Components Ltd with the company and also to consider and take on record the unaudited financial results (provisional) for the quarter ended September 30, 2002.
Orchid Chem Board to consider allotment of equity shares to IFC
Orchid Chemicals & Pharmaceuticals Ltd has informed BSE that a meeting of Board of Directors is scheduled to be held on November 21, 2002 to consider the allotment of equity shares to IFC.
Aurobindo Pharma Board approves Scheme of Amalgamation
Aurobindo Pharma Ltd has informed BSE that the Board of Directors in their meeting held today (November 15, 2002) have unanimously approved the proposal of Amalgamation of group companies namely (1) Ranit Pharma Ltd and (2) Calac Private Ltd with the company with effect from April 01, 2002 subject to necessary approval from shareholders and other statutory approvals as may be necessary.
Both Ranit Pharma and Calac are being 100 % subsidiaries, there will not be any exchange of shares on merger. Therefore, post merger, there will not be any increase in the equity of Aurobindo.
Godrej Foods fixes Book Closure for the scheme of Arrangement
Godrej Foods Ltd has informed BSE that the Board of Directors at its meeting held today (November 15, 2002) has fixed December 16, 2002 to December 27, 2002 (inclusive of both days) as book closure for the purpose of sending Option Letters as per Scheme of Arrangement and Annual General Meeting.
Earlier, Hon'ble High Court of Madhya Pradesh had approved the Scheme of Arrangement filed by the company for purchase and consequent cancellation of its equity shares representing not more than 40% of its Paid-up Capital (i.e. 11,347,534 equity shares of the face value of Re 1 each) on October 11, 2002.
GlaxoSmithKline Healthcare mulls interim dividend
GlaxoSmithKline Consumer Healthcare Ltd has informed BSE that the meeting of the Board of Directors is scheduled to be held on December 20, 2002 to consider the declaration and payment of second interim dividend for the year ending December 31, 2002
The company has also fixed December 24, 2002 as record date for the purpose of payment of second interim dividend for the year ending December 31, 2002, if approved at the Board Meeting.
Tayo first at National Quality Competition 2002
Tata Yodogawa Ltd (Tayo) has been awarded the First Prize at the National Quality Competition 2002 organised by the Indian Institute of Metals in the Secondary Steel Plant/ Alloy Steel Plant category. During the year TAYO has undertaken significant initiatives in the Direction of quality.
BPCL announces change in management structure
Bharat Petroleum Corporation Ltd has informed BSE that Mukesh Rohatgi, Executive Director (Refinery) has been appointed as Director on the Board Petroleum Corporation Ltd and he has taken over as Director Refineries wef November 14, 2002.
Naresh Narad Special Secretary, Ministry of Petroleum & Natural Gas, Government Nominee Director on the Board of Bharat Petroleum Corporation Ltd has relinquished the Directorship wef November 11, 2002 on his appointment as Secretary, Ministry of Heavy Industries & Public Enterprises.
Bombay Paints plant closed due to strike
Bombay Paints Ltd has informed BSE that the Plant of the company at Chembur is closed due to Labour unrest with effect from November 12, 2002.
Bill Gates visits Satyam technology center
Bill Gates, accompanied by Chief Minister of Andhra Pradesh N Chandrababu Naidu met with Satyam's Chairman B Ramlinga Raju and several senior executives of the company at the Satyam Technology Center in Hyderabad on November 14, 2002.
Commenting on the visit, Satyam Chairman, B R Raju said, "Satyam engages with Microsoft at various levels world-wide. We see this visit as a significant step forward in the Microsoft & Satyam relationship, both in technology adoption and on-the field engagement, for the mutual benefit of Microsoft & Satyam, and more importantly for the benefit of clients."
Sinnar Bidi Udyog revamps management
Sinnar Bidi Udyog Ltd has informed BSE that the Board of Directors at its meeting held on November 08, 2002 has taken the following decisions
1. The baord has appointed H L Shingne and M D Deshpande as Additional Directors of the Company.
2. The Board has accepted the resignations tendered by S K Sarda, Managing Director, S S Sarda, Executive Director and K K Sarda, Director of the company.
NIIT acquires Germany based IT Services Group
NIIT Ltd on November 14 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.
Munoth Investments to issue shares on preferential basis
Munoth Investments Ltd has informed BSE that the Board of Directors at its meeting held on November 13, 2002 have authorised issue of shares on preferential allotment basis to three Fireign Nationals as Foreign Direct Investment and to one Non-Resident Indian on repatriation basis at a price of Rs 11 per share.
The company has further informed that the issue price is in accordance with the guidelines issued by SEBI for the issue of shares on preferential allotment basis. Efforts are being taken to convene an EGM on December 16, 2002.
Timken India Director expires
Timken India Ltd has informed BSE that on his demise on October 29, 2002, Mantosh Sondhi in Bangalore has ceased to be a Director of the company.
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.
Saw Pipes announces FY-02 Results
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.
Ashok Leyland Finance to allot preference shares on November 20
Ashok Leyland Finance Ltd has informed BSE that the shareholders at the Annual General Meeting held on July, 25 2002 have approved the issue of Non Convertible Redeemable Cumulative Preference Shares on private placement basis.
Accordingly, the Preference Shares will be allotted to Ashok Leyland Ltd and Housing Development Finance Corporation Ltd who have agreed to subscribe to the issue of Preference Shares. The allotment of Preference Shares will be made on November 20, 2002. The company is also proposing to list the said securities on BSE.
HCL Tech joins SNIA
HCL Technologies Ltd has informed BSE that it has recently joined the Storage Networking Industry Association (SNIA).
As an associate member of SNIA, HCL Tech will work with global storage vendors for promoting the development and adoption of open standards-based, interoperable storage networking solutions. This will enable the company to work on the latest standards and address challenges in interoperability of storage networking solutions.
Traditionally, the storage space has been dominated by hardware but in recent times, the software component is assuming increasing significance and becoming a major part of this rapidly growing domain. The storage software market is expected to grow with the development of ISCSI, SAN/NAS convergence as well as the growing awareness and need for data recovery solutions. The drop in prices for storage devices has also given an impetus to this domain.
HCL Tech is already a contributor to the Interoperability and conformance Test Program (ICTP) of SNIA, to facilitate standards-based interoperability. The company has extensive expertise in diverse areas including SAN/NAS, Operating Systems, Embedded Systems, Network Management and Test.
SBI announces appointment of nominee director
State Bank of India has informed BSE that Smt Vineeta Rai, Secretary (Banking & Insurance), Ministry of Finance and Company Affairs, Department of Economic Affairs (Banking Division), New Delhi has been nominated as Director of the Board with effect from October 30, 2002.
Dr Reddy's Lab launches India's first real time helpline for doctors
Dr Reddy's Laboratories Ltd has informed BSE that it launched OncoQuest, India's first real time specialized helpline for doctors, at Oncology'02 here today.
The helpline has been launched in association with The Indian C-operative Oncology Network (ICON). Shri Vilasrao Deshmukh, Hon'ble Chief Minister of Maharashtra inaugurated the helpline by making the first call. The call was attended by Dr Purvish Parikh, founder member ICON.
Oncology '02 is the first joint summit of the Indian Society of Medical and Pediatric Oncology and the Indian Society of Oncology. It is being held in Mumbai from November 14-17, 2002. The summit would focus on current views of evidence-based practice and future trends in oncology.
Jindal Vijaynagar Steel nullifies forfeiture of equity shares
BSE has informed its members that Jindal Vijaynagar Steel Ltd has annulled the forfeiture of 24,300 equity shares which were earlier forfeited by the company due to non-payment of allotment/call monies.
EIL clarifies on news item
With reference to a news item published in a leading financial daily Engineers India Ltd has clarified that the company has not received any communication from the Govt of India on the subject.
Wipro clarifies on news item
With reference to a news item published in a leading financial daily Wipro Ltd has clarified that the company has seen various reports reports in the media attributing a variety of statements to the Vice Chairman of the company Mr Vivek Paul during his interaction with press on November 13, 2002. In this context the company has clarified that following was the gist of its communication :
1. Wipro continues to see strong traction in the BPO space with existing client base. It has won 3 letters-on-intent in the last few weeks across the Technology and Enterprise space.
2. The company has strong relationship with Microsoft. It has had several discussions over the past several weeks on expanding this relationship across multiple areas, including BPO, which are progressing satisfactorily. The details of any agreement will be shared as and when ready.
3. The discussion between Mr Vivek Paul and Mr Bill Gates was around the broader Wipro-Microsoft relationship and did not cover specifics of any transaction.
Archies Greetings & Gifts ties up with ICC
Archies Greetings & Gifts Ltd has informed BSE that they have entered into an arrangement with International Cricket Council for exclusive merchandising rights in India for Greeting Cards, Mugs, Crayons, Soft Toys and various other Paper products, using the logo, mascot and all other marks associated with the World Cup Cricket Tournament, to be held in South Africa in 2003.
Polygenta Technologies to finalise the rehabilitation package by November 15, 2002
Polygenta Technologies Ltd has informed BSE that as per the order by BIFR, the company was required to submit the Rehabilitation scheme to IFCI, the O.A, by October 27, 2002. On the basis of the Technical Consultants Report , the company will be finalising the rehabilitation package by November 15, 2002. The company had already sought permission from IFCI and BIFR to submit the report by November 2002 end.
Colgate Palmolive declares interim dividend
The Board of Directors of Colgate Palmolive India Ltd, at their meeting held today (November 15, 2002) have declared an interim dividend of 22.5 % i.e. Rs 2.25 per equity share of Rs 10 each (subject to Tax) for the financial year ending March 31, 2003.
PNB to promote new Asset Management Company jointly with SBI, BOB and LIC to takeover UTI-II
Punjab National Bank has informed BSE that consequent upon the promulgation of Unit Trust of India (Transfer of Undertaking and Repeal) Ordinance, they have decided to promote a new Asset Management Company (AMC) jointly with State Bank of India, Bank of Baroda and Life Insurance Corporation to takeover UTI - II. To manage the Mutual Fund Trust - a Trustee Company will also be formed by the Bank jointly with these Institutions. For this purpose the Bank has decided to contribute equally with other Institutions in the AMC and the Trustee Company and has taken up with RBI seeking permission for the same.
Highcourt directs Sambhaav Media to seek members approval for the scheme of amalgamation
Sambhaav Media Ltd has informed BSE that the High Court of Gujarat has directed the Company to seek shareholders approval on December 04, 2002 for the Scheme of Amalgamation of M/s. Abhiyaan Press & Publications Pvt. Ltd, M/s. Aider Publishers Pvt. Ltd. and Traders Pvt. Ltd. with the company. The agenda for the EGM of members to be held on December 04, 2002 also includes Increase in authorised capital and filling of casual vacancy in the office of Auditors of the company.
Saw Pipes fixes Book Closure for dividend
Saw Pipes Ltd has informed BSE that the Register of Members and Share Transfer Books of the Company will be closed from December 19, 2002 to December 21, 2002 (both days inclusive) for purpose of dividend at the time of Annual General Meeting.
Indo Rama Syn expands its production capacity
Indo Rama Synthetics India Ltd has informed BSE that it has increased its production capacities in several product categories.
The Partially Oriented Yarn (POY) and Fully Drawn Yarn (FDY) capacity has been enhanced through installation of an additional machine each, incorporating the latest technology. This has resulted in production volumes rising from 8700 tonnes per month (tpm) to 9600 tpm in the case of POY and from 275 tpm to 600 tpm for FDY.
The FDY capacity will increase further from 600 tpm to around 1200 tpm through installation of two more FDY machines by end-December 2002.
Besides this enhancement, the company has also installed two additional Draw Texturised Yarn (DTY) machines. Six more DTY machines will add to production by the end of the current financial year, increasing the total capacity from 2500 tpm to 3500 tpm
