P&G Hygiene FY-01 net profit up by 10.16%

Procter & Gamble Hygiene and Health Care Ltd today (August 27, 2001) announced its audited financial results for the year ended June 30, 2001. The company achieved total sales of Rs 4480.20 million for the year ended June 30, 2001 as compared to Rs 4751.40 million in the financial year ended June 30, 2000. The sales figures are not comparable with last year's figures as the previous year's figures included divested businesses such as manufacture of shampoos and Clearasil totalling to Rs 420 million. The net profit for the year ended June 30, 2001 is at Rs 826.80 million as compared to Rs 750.50 million for the year ended June 30, 2000 showing a growth of 10.16%. During the year ended June 30, 2001 the company earned other income of Rs 280.90 million, which includes proceeds from sale of some immovable properties at Mumbai. Keeping in view the sale of immovable properties in Mumbai, divestiture of Clearasil business and improved working capital management, the company has announced dividend of Rs 40 for each equity share for the financial year ended June 30, 2001 of which Rs 2.50 for each share has been paid as interim dividend in October 2000. The company had earned other income of Rs 105.30 million in the financial year ended June 30, 2000. The company will continue to have sufficient financial resources to focus and grow its core business of Health Care & Feminine Hygiene.

Jupiter Bio Board approves 15% dividend

The Board of Directors of Jupiter Bioscience Ltd at its meeting held on August 27, 2001 has approved a dividend of 15% subject to the approval of shareholders in the AGM, which will be held on September 29, 2001.

SEEC and Satyam Computer form alliance to deliver Web services Solutions

Satyam Computer Services Ltd a diverse end-to-end IT solutions provider, and SEEC, Inc., a leading provider of component and Web services solutions for Insurance and other Industries, have formed a global strategic alliance to deliver next generation e-business solutions. Under the alliance, the companies will jointly deliver component and Web services solutions that combine Satyam's strategic consulting and implementations services with SEEC's business and integration components, and SEEC Mosaic™ Studio, SEEC's component and Webs services development kit. "SEEC provides unmatched capabilities for developing next generation enterprise applications and Web services that reuse, extend and integrate with existing information assets," said F.S. Mohan Eddy, senior vice president and head of Collaborative Enterprise Solutions for Satyam. "These applications and Web services will be an integral part of our Collaborative Product Commerce (CPC) solutions, which provide process efficiency, application flexibility, and speed. Together SEEC and Satyam will deliver enterprise class, Web services solutions faster and at a lower cost than any alternative. Said Ravi Koka, President and CEO of SEEC,"Large enterprises are striving to build more adaptive, collaborative business systems that leverage their traditional competitive advantages and business know-how in new ways using the Internet. Satyam and SEEC provide unique capabilities for developing these new systems, offering customers a faster return on their e-business investments, and helping them achieve sustainable growth and profitability."

Polaris Software Lab gets RBI approval for issue of Bonus Shares to NRIs/FIIs

Polaris Software Lab Ltd has got the approval of RBI for the issue of bonus shares to NRIs and FIIs. The company had declared bonus shares in the ratio of 1:2 One equity share for every Two shares held.

L&T clarifies on news article

With reference to the news article appearing in a leading financial daily titled " L&T to slash managerial strength by 25 per cent" Larsen & Toubro Ltd has informed BSE that the Company is in the process of restructuring its business portfolio and consequently the roles and responsibilities of the senior staff will undergo some change which will result in reduction in the number if senior management staff. To facilitate this process, a Voluntary Retirement package would be offered to those whose positions have become surplus.

Thomas Cook opens Leisure travel office in Goa

Thomas Cook India Ltd, the leading international travel related financial services company enhances its presence in Goa with the opening of its new office. As a part of its corporate growth plan and business focus on further developing its Leisure travel brand, the company has established a dedicated leisure travel office which will provide customer services to foreign tour operators and domestic traffic. Thomas Cook India Ltd has also been appointed as the ground handling agent for UK based JMC holidays and Germany based Neckerman Reisen charters coming into Goa & Kerala. The new office will provide services in areas on inbound and outbound packages, domestic holidays and ticketing and travel arrangements informs Sunil Gupta, Head - Leisure Travel, Thomas Cook India Ltd. In fact Thomas Cook India Ltd has also been actively pursuing with the Indian Railway's and has recently launched a Bombay-Goa package utilising Konkan Railway.

German Remedies to consider reconstitution of the Board of Directors

German Remedies Ltd has received a certificate dated August 27, 2001 pursuant to Regulation 23(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations 1997, issued by DSP Merrill Lynch Ltd, Manager to the open offer made by Recon Healthcare Ltd pursuant to the aforesaid regulations stating that Recon Healthcare Ltd has fulfilled all its obligation under the SEBI regulations. In view of the above a meeting of the Board of Directors is scheduled to be held on August 29, 2001 at the registered office to discuss interalia the reconstitution of the Board of Directors of the company.

Bank of Rajasthan clarifies on news item

With reference to news item appearing in a financial daily Bank of Rajasthan Ltd has informed BSE that the bank is not aware about a strategic partner for a merger and the source of the said item is not known.

Gujarat Ambuja Cement clarifies on news article

With reference to the news article appearing in a leading financial daily titled "Gujarat Ambuja to set up grinding unit in Sri Lanka" Gujarat Ambuja Cements Ltd has informed BSE that currently, its plan to set up a grinding unit in Sri Lanka is on hold and would be taken up at an appropriate time. The Company has informed that it has commissioned its Bulk Cement Terminal in Galle, Sri Lanka through its wholly owned subsidiary viz Ceylon Ambuja Cements Private Ltd with a capital layout of approx. USD 5.50 million i.e at a cost of approx Rs 250 million. The Terminal has a capacity of handling 0.50 million tonnes of cement. This was commissioned during September 2000.

Bata India announces change in management structure

The Board of Bata India Ltd has announced the appointment of Mr Fernando Garcia Restrepo as Joint Managing Director of the company with effect from August 24, 2001. Mr G V Middleton, Deputy Managing Director will take another assignment in Bata Shoe Organisation towards the end of September 2001. Mr P K Nag on secondment to Bata Ltd, Toronto for the past two years has been appointed Finance Director and will join Bata India Ltd shortly. Mr G S M Ghaznavi Vice President- Retail South has been appointed Director Retail.

HDFC Bank clarifies on news item

With reference to the news article appearing in a leading financial daily titled " Centurion taps HDFC Bank as NPAs cross trigger-point" HDFC Bank Ltd has informed BSE that the Board of Directors of the Bank have no such proposal for its consideration.

Tolani Shipping to make open offer to the shareholders of Tolani Bulk Carriers

Tolani Shipping Company Ltd (TSCL or the Acquirer) intends to make a offer to the public shareholders of Tolani Bulk Carriers Ltd (TBCL) to acquire upto 74,41,700 fully paid up equity shares of Rs 10 each, representing 31.01% of the paid-up equity share, payable in cash. The offer is not conditional upon any minimum level of acceptance. Dr. N.P. Tolani, Dr. N.P. Tolani (HUF), Mrs P.N. Tolani, Mr. R.N. Tolani, Dr. (Mrs) Sujata A. Naik, Mrs Arshana R. Tolani, Master Jivesh R. Tolani (holding through his natural guardian, Mr Rohet N. Tolani) and Jyra Overseas Ltd. are Persons Acting in Concert for the purpose of this offer. The Specified Date (for the purpose of determining the names of the shareholders to whom the Letter of Offer would be sent) is September 11, 2001. The Offer will open on October 8, 2001. The Offer will close on November 6, 2001.

Ind-Swift clarifies on news item

With reference to news item "Ind-Swift group scripts consolidation blueprint" appearing in a leading financial daily Ind-Swift Ltd has informed BSE that the management is working on all the possibilities of the consolidation of the group activities which are subject to necessary approvals and the disclosure shall be made when the things are finalized.

Extraordinary items lead SSI to post a loss of Rs 144.68 million in Q4, FY-01 net profit at Rs 558.02 million

SSI Ltd has posted a net loss of Rs 144.68 million for the quarter ended June 30, 2001 as compared to a net profit of Rs 309.26 million in the corresponding period last fiscal. Total Income has increased from Rs 829.64 million in the quarter ended June 30, 2000 to Rs 1040.74 million in the quarter ended June 30, 2001. The company has posted a net profit of Rs 558.02 million for the year ended June 30, 2001 as against Rs 569.33 million in FY-2000. Total Income has increased from Rs 2143.50 million in FY-2000 to Rs 4466.15 million in the year ended June 30, 2001. Other Income includes Rs 11.90 million for the quarter ended and Rs 103.17 million for the year ended June 30, 2001 on account of exchange rate difference. During the year, the Company has set up Wholly Owned Subsidiaries in Australia and Singapore. Consequent to restructuring of the line of business within the organisation, the management has decided to discontinue the operations of Enterprise Support Division with effect from April 1, 2001. During the quarter, a sum of Rs 200.00 million has been provided for diminution in investment value of Netfinex.com India Ltd. The Board has recommended a Dividend of 40% for the year 2001 and a special dividend of 20% to commemorate 10 years of operations, subject to the approval of the shareholders at the ensuing Annual General Meeting to be held on 18/10/2001.

Ranbaxy Lab clarifies on news item

With reference to new item "Ranbaxy to set up R&D lab in US" appearing in a financial daily Ranbaxy Laboratories Ltd has informed BSE that the proposal to set up R&D lab in US is at a planning stage. The company has not taken any decision yet in this regard.

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