Tata Finance Ltd has posted a net loss of Rs 25.96 crore for the quarter ended September 30, 2002 as compared to a net loss of Rs 17.27 crore for the quarter ended September 30, 2001. Income from operations for SQ-02 is at Rs 97.66 crore as compared to Rs 103.27 crore in the quarter ended September 30, 2001.
Nava Bharat Ferro Alloys forfeits 50295 equity shares
Nava Bharat Ferro Alloys Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 31, 2002 has forfeited 50295 equity shares for non payment of allotment money @ Rs 15/- per share - Rights Issue (1995-96).
Mazda Controls Board approves buyback
Mazda Controls Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 29, 2002 has approved buy back of equity shares of face value of Rs 10 each up to a limit not exceeding 10% of the existing share capital of the company ie up to a limit of 4,17,480 equity shares of the company at a maximum price not exceeding Rs 10 per equity share.
Kotak Mahindra Fin grants options
Kotak Mahindra Finance Ltd has granted additional options for 50,000 equity shares under Series 1 of the Stock Option Plan 2002-03. The options are exercisable at Rs 135 per share. 40% of the options are exercisable during the period September 01, 2004 to March 31, 2005 and the balance between September 01, 2005 to March 31, 2007.
IT&T Board constitutes committee of Directors to finalize right issue
IT&T Ltd has informed BSE that the Board of Directors in its meeting held on October 31, 2002 decided to constitute a Committee of Board of Directors consisting of Mr Rohitasava Chand, Executive Chairman, Mr Karan Puri, Managing Director and Mr Hemant Kohli, CEO and Director, Mr C S Bhandari Finance Controller and Ms. Neha R Guha, Company Secretary of the Company to do all such acts and deeds as may be required to finalize the proposed right issue of the Company.
Elgi Equipments Board declares interim dividend at 50%
Elgi Equipments Ltd has informed BSE that the Board of Directors in their meeting held today (October 31, 2002) had declared an interim dividend of 50% on the paid up equity share capital of the company for the financial year 2002-03. The details are as follows:
Particular-------------Fully paid shares------------- Partly paid shares
Total number of shares------------- 60,000,000------------- 18,174,240
Paid up value per share------------- Re 1 each------------- 0.05 paise
Interim dividend in %------------- 50%------------- 50%
Interim dividend amount------------- Rs 30,000,000------------- Rs 454,356
Moschip Semiconductor Tech grants stock options
The Compensation Committee of Moschip Semiconductor Technology Ltd has granted 25,000 stock options on October 31, 2002 to the employees of Moschip Semiconductor Technology.
Reckitt Benckiser Q3 net at Rs 1.29 crore
Reckitt Benckiser India Ltd has reported a net profit of Rs 1.29 crore in quarter ended September 30, 2002 as compared to a net profit of Rs 4.83 crore in SQ-2001. Net Sales have increased from Rs 139.87 crore in SQ-2001 to Rs 167.3 crore in SQ-2002. Other income has increased from Rs 2.53 crore in SQ-2001 to Rs 2.93 crore in SQ-2002.
LML Q2 loss at Rs 3.85 crore
LML Ltd has reported a net loss of Rs 3.85 crore in quarter ended September 30, 2002 as compared to a net loss of Rs 18.8 crore in SQ-2001. Net Sales have increased from Rs 108.91 crore in SQ-2001 to Rs 119.57 crore in SQ-2002. Other income has decreased from Rs 1.48 crore in SQ-2001 to Rs 0.85 crore in SQ-2002.
The total two wheeler sales for SQ-2001 are 42214 units whereas the same is at 41202 units for SQ-2002.
GlaxoSmithkline Pharma Q3 net at Rs 37.38 crore
GlaxoSmithkline Pharmaceuticals Ltd has posted a net profit of Rs 37.38 crore in the quarter ended September 30, 2002 as compared to Rs 24.15 crore in the quarter ended September 30, 2001. Net Sales (net of excise) have increased from Rs 283.5 crore in SQ-01 to Rs 297.35 crore in the quarter ended September 30, 2002.
Burroughs Wellcome Q3 net at Rs 11.31 crore
Burroughs Wellcome India Ltd has reported a net profit of Rs 11.31 crore in quarter ended September 30, 2002 as compared to Rs 6.65 crore in SQ-2001. Sales (net of excise) have increased from Rs 49 crore in SQ-2001 to Rs 50.97 crore in SQ-2002. Other income has increased from Rs 3.31 crore in SQ-2001 to Rs 3.78 crore in SQ-2002.
Aurobindo Pharma Q2 net at Rs 20.52 crore
Aurobindo Pharma Ltd has posted a net profit of Rs 20.52 crore in the quarter ended September 30, 2002 as compared to Rs 14.54 crore in the quarter ended September 30, 2001. Total Income has increased from Rs 255.44 crore in SQ-01 to Rs 308.32 crore in the quarter ended September 30, 2002.
Gujarat Gas Q3 net at Rs 11.60 crore
Gujarat Gas Company Ltd has posted a net profit of Rs 11.60 crore for the quarter ended September 30, 2002 as compared to Rs 13.67 crore for the quarter ended September 30, 2001. Total Income has increased from Rs 99.89 crore in SQ-01 to Rs 1002.77 million in the quarter ended September in the quarter ended September 30, 2002.
The Managing Director of GGCL, Mr Robert Thomas, speaking on the occasion of the results, said, "Gujarat Gas Company Ltd has faced a challenging period over the last two quarters primarily due to increasing purchase cost of gas and lower volumes of gas from one of the suppliers. However additional gas supplies are likely to be available in the current quarter".
British Gas Asia Pacific Holdings Pte Ltd the principal shareholder of the Company has nominated Mr B S Shantharaju as the Managing Director of the Company with effect from March 01, 2003.
NOCIL Q2 loss at Rs 13.76 crore
National Organic Chemical Industries Ltd has reported a net loss of Rs 13.76 crore for quarter ended September 30, 2002 as compared to a net loss of Rs 7.94 crore for SQ-2001. Sales (net of excise) have decreased from Rs 191.89 crore in SQ-2001 to Rs 62.18 crore in SQ-2002. Other Income has increased from Rs 7.12 crore in SQ-2001 to Rs 7.39 crore in SQ-2002.
The company has further informed that BPCL has presented a petition in the High Court at Mumbai for winding up of the Company for non payment of its dues against the supply of naphtha and that the said petition is pending in the High Court for admission.
Himachal Futuristic Communications Q2 net at Rs 5.13 crore
Himachal Futuristic Communications Ltd has reported a net profit of Rs 5.13 crore for quarter ended September 30, 2002 as compared to a net profit of Rs 5.91 crore for SQ-2001. Net Sales has decreased from Rs 221.96 crore in SQ-2001 to Rs 180.33 crore in SQ-2002. Other Income has increased from Rs 3.83 crore in SQ-2001 to Rs 5.47 crore in SQ-2002.
HPCL posts net profit of Rs 456 crore
Hindustan Petroleum Corporation Ltd has posted a net profit of Rs 456 crore in the quarter ended September 30, 2002 as compared to Rs 140 crore in the quarter ended September 30, 2001. Net Sales have increased from Rs 10950 crore in the quarter ended September 30, 2001 to Rs 12185 crore in the quarter ended September 30, 2002. Other income for SQ-02 is at Rs 71.87 crore.
Nestle India Ltd posts net profit of Rs 44.08 crore
Nestle India Ltd has posted a net profit of Rs 44.08 crore for the quarter ended September 30, 2002 as compared to Rs 52.67 crore in the quarter ended September 30, 2001. Total Income has decreased from Rs 536 crore in SQ-01 to Rs 529 crore in the quarter ended September 30, 2002.
The uncertain market conditions and weak consumer confidence persisted through the third quarter with drought like conditions and falling monsoons in many parts of the country weakening the market. Impact on Nestles business was mitigated, as the company continued to focus on efforts to better understand and anticipate consumer needs to enable it to develop products that provide nutrition and wellness. Improved product portfolio, rationalisation of distribution costs, value for money and affordability continued to be thrust areas. The company maintained its emphasis on continuous improvement and the implementation of best practices to support its efforts for long term sustainable and profitable growth.
Elango Ind to commence production
Elango Industries Ltd has informed BSE that production is yet to commence and there is a likelihood of starting production shortly.
Kirloskar Oil Engines Board approves merger
Kirloskar Oil Engines Ltd has informed BSE that the Board of Directors at their meeting held today (October 31, 2002) has approved, in principle, the proposal of merger of Kirloskar Power supply Company Ltd with the Company.
JMA Ind Board approves rights issue
The Board of Directors of JMA Industries Ltd at its meeting held on October 30, 2002 has decided to offer equity shares on rights basis in the ratio of 2:1 ie two equity shares for every one equity share held at a price to be decided by the Rights Issue Committee.
Saregama India Q2 loss at Rs 11.89 crore
Saregama India Ltd has posted a net loss of Rs 11.89 crore for the quarter ended September 30, 2002 as compared to a net profit of Rs 0.16 crore for the quarter ended September 30, 2001. Total Revenue has decreased from Rs 36.85 crore in the quarter ended September 30, 2001 to Rs 23.64 crore in the quarter ended September 30, 2002.
IOCL ropes in Tata Honeywell for project Manthan
In an effort to increase its operational efficiencies and margins Indian Oil Corporation Ltd (IOCL) has roped in Tata Honeywell Ltd in its IT re-engineering project Manthan. IOCL has awarded to Tata Honeywell Ltd a contract valued at Rs 500 million to implement supply chain management, scheduling and operations management solutions for the entire supply chain of IOCL's fuel business. The scope of the project is likely to be further enhanced in future to cover additional areas and operations of IOCL.
Jindal Steel & Power press release on Q2 results
Jindal Steel & Power Ltd has issued the following press release for Sept Quarter 2002 results
Sponge Iron prices have firmed up recently and market for the steel products is also doing well. The Company expects to do still better in the coming quarters.
In a major effort to reduce the financing cost, the Company has prepaid Rs 600 million high cost redeemable preference shares out of the total preference share capital of Rs 710 million. With this prepayment, preference share capital has been reduced to Rs 110 million.
FDC Q2 net at Rs 9.75 crore
FDC Ltd has posted a net profit of Rs 9.75 crore for the quarter ended September 30, 2002 as compared to Rs 8 crore for the quarter ended September 30, 2001. Total Income (net of excise) has increased from Rs 42.63 crore in the quarter ended September 30, 2001 to Rs 5.66 crore in the quarter ended September 30, 2002.
The Board of Directors at its meeting held on October 31, 2002 declared an interim dividend @ 50% on the paid up share capital of the Company.
Television Eighteen Q2 loss at Rs 0.88 crore
Television Eighteen India Ltd has reported a net loss of Rs 0.88 crore for quarter ended September 30, 2002 as compared to a net profit of Rs 1.35 crore for SQ-2001. Total Income has decreased from Rs 9.95 crore in SQ-2001 to Rs 6.72 crore in SQ-2002.
The Consolidated results are as follows:
The Company has reported a net loss of Rs 0.98 crore for the quarter ended September 30, 2002 as compared to a net loss of Rs 1.46 crore for the quarter ended September 30, 2001. Total Income has increased from Rs 7.88 crore in SQ-2001 to Rs 7.99 crore in SQ-2002.
Goodlass Nerolac Paints Board approves scheme of amalgamation
Goodlass Nerolac Paints Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 29, 2002 has approved the following: -
1) Scheme of Amalgamation of GNP (Madras) Ltd., Perungudi, Tamil Nadu and Saurashtra Paints Ltd., Vatva, Ahmedabad, Company's wholly owned subsidiaries with the Company. The scheme of amalgamation is subject to the approval of the Shareholders, concerned Hon'ble High Courts and completion of other statutory formalities.
2) The enhancement of capacity at the company's factory at Jainpur, Kanpur Dehat, U.P. subject to statutory clearance. The cost involved for capacity enhancement is estimated at about Rs.90 million.
Hind Oil Exploration Q2 loss at Rs 9.64 crore
Hindustan Oil Exploration Company Ltd has posted a net loss of Rs 9.64 crore for the quarter ended September 30, 2002 as compared to a net profit of Rs 3.54 crore in SQ-01. Total Income has decreased from Rs 11 crore in the quarter ended September 30, 2001 to Rs 8.59 crore in the quarter ended September 30, 2002.
During the quarter ended September 30, 2002 the company has provided Rs 11.27 crore towards cost of plugged and abandoned Wells Vagra 1 and Vagra 2 and associated costs in CB-OS/1 block on the basis of available information and as per accounting policy of Successful Efforts Method adopted by the company.
Sesa Goa Q2 loss at Rs 10.7 crore
Sesa Goa Ltd has reported a net loss of Rs 10.7 crore for quarter ended September 30, 2002 as compared to a net loss of Rs 8.27 crore for SQ-2001. Net Sales has increased from Rs 9.67 crore in SQ-2001 to Rs 9.9 crore in SQ-2002. Other Income has decreased from Rs 2.67 crore in SQ-2001 to Rs 1.71 crore in SQ-2002.
Figures for the previous periods are not comparable owing to work disruptions that took place in those periods in connection with a new wage settlement, which was reached in October 2001.
Jindal Steel & Power Q2 net at Rs 38.79 crore
Jindal Steel & Power Ltd has posted a net profit of Rs 38.79 crore for the quarter ended September 30, 2002 as compared to Rs 26.2 crore in the corresponding period last fiscal. Total Income has increased from Rs 124.43 crore in SQ-01 to Rs 218 crore in the quarter ended September 30, 2002.
Arvind Mills Q2 net at Rs 29.07 crore
Arvind Mills Ltd has posted a net profit of Rs 29.07 crore for the quarter ended September 30, 2002 as compared to a net loss of Rs 44.59 crore in the corresponding period last fiscal. Total Income has increased from Rs 342.68 crore in SQ-01 to Rs 356.54 crore in the quarter ended September 30, 2002.
Hughes Software launches Industry First 3G Radio Network Controller & Noder B integrated interfaces & source code solutions
Hughes Software Systems Ltd (HSS) today (October 31, 2002) announced the launch of the Industry First 3G Radio Network Controller and NodeB integrated interfaces built using its existing suite of RNC and NodeB source code solutions. All integrated interfaces and source code solutions from HSS have roadmaps to support 3rd Generation Partnership Project standards specifications as they evolve from Release 99 and Release 4 through till Release 5.
Novartis Acquires Rights in Torrents AGE Compound
Torrent Pharmaceuticals Ltd announced today (October 31, 2002) that it has reached an agreement with Novartis Pharma AG, a leading international pharma company, based in Switzerland regarding global rights to its very early stage AGE (Advanced Glycosylation Endproducts) breaker compound. AGE breakers are compound with potential in the treatment of heart disease & diabetes related vascular complications.
Presently, Torrent will receive US Dollar 0.5 million as non-refundable initial payment towards the commencement of this agreement. Torrent will be responsible for early stage R & D activities up to the pre-defined endpoints at which stage Novartis has an option to acquire exclusive global rights for further development & commercialization. In the event of Novartis exercising this option., Torrent will receive milestone payment of US Dollar 3.0 million. In case, Novartis prefers to forgo the option, Torrent will be free to undertake the development of the said compound on its own.
The agreement envisages a long-term arrangement involving subsequent milestone payments & royalties linked with global sales, provided the compound qualifies for ultimate commercialization after passing through various phases of clinical development & regulatory approvals. Torrent would also lead the co-promotion of the compound in its home market.
While expressing satisfaction, Samir Mehta, Managing Director of Torrent Pharma said: "The deal reinforces Torrents confidence in its research team. Association with Novartis will provide Torrent an educative exposure & experience." Thomas Ebeling, CEO of Novartis Pharma, said : " AGE is potentially interesting target for our scientists. Joining forces with Torrent underscores our widening search for innovative compounds & partners throughout the world.
High Court of Bombay approves scheme of amalgamation of Alstom Power
Alstom Power India Ltd has informed BSE that the High Court of Judicature at Bombay has approved the scheme of arrangement for amalgamation of Alstom Transport Ltd, Alstom Systems Ltd and Alstom Power Boilers Ltd with the company.
ACC Q2 net at Rs 5.12 crore
Associated Cement Companies Ltd has posted a net profit of Rs 5.12 crore for the quarter ended September 30, 2002 as compared to Rs 17.03 crore in the corresponding period last fiscal. Total Income (net of excise) has increased from Rs 657.2 crore in SQ-01 to Rs 689.91 crore in SQ-02.
Outlook
The cement industry a growth rate of 10% in H1 2003 as compared to 5.30% in the previous corresponding period last fiscal. This momentum in growth rate is expected to continue into the second half of the current year. The demand drivers for cement are expected to be the impetus given to housing & road construction coupled with other infrastructure development. While cement prices have been lower in H1 2003 they are expected to improve in the second half.
Cadbury India Q3 net at Rs 21.62 crore
Cadbury India Ltd has reported a net profit of Rs 21.62 crore for the period June 17, 2002 - October 06, 2002 as compared to Rs 18.25 crore for the period June 18, 2001 - October 07, 2001. Net Sales has increased from Rs 196.4 crore for the period June 18, 2001 - October 07, 2001 to Rs 217.94 crore for the period June 17, 2002 - October 06, 2002. Other Income has increased from Rs 2.49 crore for the period June 18, 2001 - October 07, 2001 to Rs 2.66 crore for the period June 17, 2002 - October 06, 2002.
EIH announces Q2 net at Rs 3.58 crore
EIH Ltd has reported a net loss of Rs 3.58 crore for quarter ended September 30, 2002 as compared to a net profit of Rs 1.73 crore for SQ-2001. Net Sales has decreased from Rs 91.9 crore in SQ-2001 to Rs 82.09 crore million in SQ-2002. Other Income has decreased from Rs 12.04 crore million in SQ-2001 to Rs 9.39 crore in SQ-2002.
Shyam Telecom fixes Book Closure for AGM
Shyam Telecom Ltd has informed BSE that the Company would observe Book Closure from December 14, 2002 to December 20, 2002 (both days inclusive). The Register of members and share transfer books of the Company will remain closed during the above said period for the purpose of AGM in pursuance to Section 154 of the Companies Act, 1956.
ICICI Bank announces Consolidated HI results under Indian GAAP
ICICI Bank Ltd has reported a consolidated profit after tax of Rs 506 crore in H1-2003 including the results of subsidiaries and affiliates of erstwhile ICICI that became subsidiaries of the Bank on the merger. The bank had no subsidiaries at September 30, 2001.
The consolidated profit was lower than the Bank's standalone profit due to the loss incurred by ICICI Prudential Life Insurance Company Ltd which had an impact of Rs 50 crore on the Banks consolidated profit.
The Banks general insurance subsidiary ICICI Lombard General Insurance Company Ltd achieved financial break even during Q2-2003. ICICI Securities & Finance Company Ltd earned a profit after tax of Rs 45 crore in H1-2003.
Apollo Tyres Q2 net at Rs 27.35 crore
Apollo Tyres Ltd has reported a net profit of Rs 27.35 for quarter ended September 30, 2002 as compared to Rs 3.22 crore for SQ-2001. Sales (net of excise) have increased from Rs 317.13 crore in SQ-2001 to Rs 376.41 crore in SQ-2002. Other Income has decreased from Rs 0.96 crore in SQ-2001 to Rs 0.37 crore in SQ-2002.
ICICI Bank H1 net at Rs 538 crore
ICICI Bank Ltd has posted a net profit of Rs 538 crore for the half year ended September 30, 2002 where as the same was Rs 131 crore in the half year ended September 2001. Total Income for Half year ended September 2002 is at Rs 6857 crore whereas the same was Rs 1155 crore in the half year ended September 30, 2001.
The Capital Adequacy at September 02 was 12.32%
Ramco Systems announces the release of next generation HR and Corporate Performance management solutions
Ramco Systems released two of its next generation products, Ramco HRMS 4.0 and Ramco Business Decisions. Ramco HRMS is a fully web architected and BPO enabled product, incorporating global best business practices. Ramco Business Decisions offers decision support for senior management covering areas like Balanced Scorecards, Corporate Performance Management, Business Analytics and Data Warehousing that work with Ramco Enterprise Application products as well as other ERP suites. Ramco Systems is soon launching its next generation Enterprise products slated for the last quarter of this financial year.
This intuitive solution offer HR practitioneers a fresh perspective in helping to plan, organise service and manage people for organisational transformation. This end-to-end solution addresses all HR needs - from operational to strategic and aids information management and decision making. It covers Self Service, Payroll, Benefits, Time & Attendance, Performance Evaluations, Leave Management and Recruitment processes. Further it combines the power of Business analytics and Workflow with the user-friendliness of the Web Browser to deliver a world class HR solution. This can be deployed either in-house or as an ASP model.
Gujarat Heavy Chemicals announces change in management structure
Gujarat Heavy Chemicals Ltd has informed BSE that the Board of Directors of the Company in their meeting held on October 30, 2002 has appointed Mr D Rajgopalan, IAS in place of Mr L Mansingh, IAS as Director of the Company.
Mr Mahesh Kheria is reappointed as an Alternate Director for Mr S H Ruparell, by the Board of Directors on September 30, 2002 who had retired by rotation and re appointed by the members of the Company on September 24, 2002.
ITC Board approves integration of Bhadrachalam Paperboards Division and Tribeni Tissues Division
ITC Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 24, 2002 approved:
Integration of Bhadrachalam Paperboards Division and the Tribeni Tissues Division of the Company into a single Division to realise strategic and operational synergies. The integrated Division christened 'Paperboards & Specialty Papers Division' will be operational from November 01, 2002.
As part of the FMCG portfolio, setting up a Strategic Business Unit for sourcing 'Matches' from the small scale sector.
National Fertilizers announces change in management structure
National Fertilizers Ltd has informed BSE that the following changes have taken place in the Board of the Company:
Shri Vijay Singh has been co-opted as Director on the Board of Directors of the Company w e f October 25, 2002, Shri Vijay Singh is Additional Secretary & Financial Advisor in the Dept of Fertilizers Ministry of Chem & Ferts., Govt of India.
IDBI has appointed Dr B C Jain as Director of the Board of Directors of the Company w e f October 31, 2002.
IDBI has withdrawn the nomination of Mr K Muthukumar from the Board of Director of the Company w e f October 31, 2002.
Datasoft Application to discontinue training operations
Datasoft Application Software India Ltd has informed BSE that at the Board Meeting held on October 28, 2002, it has been decided to discontinue the training operations with immediate effect.
Bank of Bahrain and Kuwait B S C to deploy Finacle Core Banking from Infosys
Infosys, India's leading software and solution provider today (October 31, 2002) announces that Bank of Bahrain and Kuwait B S C (BBK) one of the premier banks of Bahrain, has selected Finacle Core Banking the new generation core banking solution from Infosys, for its operations in India. The Bank's Indian operations comprise of branches in Mumbai and Hyderabad.
"We are very pleased to partner with Bank of Bahrain and Kuwait, B S C in their initiative to revamp their existing banking software. Finacle Core Banking solutions is not just a technologically advanced and functionally rich solution, but a product, which can scale-up and assist the bank in meeting the future challenges. It is no accident that twelve out of sixteen banks in India that have gone in for centralized core banking in the last 24 months, have chosen Finacle Core Banking. Our powerful product capabilities combined with our proven rapid implementation track record have given us significant competitive leadership in this space" said Mr Girish Vaidya Senior Vice President and Head, Banking Business Unit, Infosys Technologies Ltd.
Mahindra & Mahindra announces change in management structure
Mahindra & Mahindra Ltd has informed BSE that Mr. David Friedman (currently the Alternate Director to Mr.Lewis W. K. Booth) has been appointed as a Director of the Company w.e.f. October 30, 2002 in the vacancy caused by the cessation of Directorship of Mr. Lewis W.K. Booth.
Mr. V.K. Chanana has been appointed as a Nominee Director of UTI w.e.f. October 30, 2002 in place of Mr. Sanjiv Kapoor whose nomination has since been withdrawn by UTI.
American Stock Exchange and Infosys Develop trade comparison system
Infosys Technologies Ltd announced on October 30, 2002 that it has built a new intra day comparison system for equities for the American Stock Exchange (Amex). The comparison system will be a core component of the Amex's technology platform and will be crucial for matching and settlement of the day's stock trades.
"IDCE is a great operational improvement for the Amex and our customers. The new system allows us to match trades during the day and transmit compared trades on a real time basis," said Ralph Rafaniello, executive vice president of Amex floor market operations. "This system will be additionally beneficial when the industry wide initiative of next day trade settlement - known as T+1 - takes place, helping to reduce the risk related to open positions".
"Our work on the IDCE was Infosys' first project for a stock exchange and we are thrilled to have used our technology consulting, development and implementation expertise to earn the respect and trust of the Amex," said Basab Pradhan, senior vice president and head of worldwide sales for Infosys. "We look forward to future expansion of our relationship with the Amex."
Aventis Cropscience reports net profit of Rs 78 million
Aventis Cropscience India Ltd has reported a net profit of Rs 78 million for the quarter ended September 30, 2002 whereas the same was at Rs 119.50 million for the quarter ended September 30, 2001. Net Sales was at Rs 893.60 million in SQ-2001 whereas the same is at Rs 1028.10 million in SQ-2002. Other income was at Rs 3.20 million in SQ-2001 whereas the same is at Rs 1.70 million in SQ-2002.
The figures for the quarter ended September 30, 2002 include the figures of Aventis CropScience Private Ltd., which has been amalgamated with the company pursuant to order of the Bombay High Court dated September 20, 2001. However, the figures for the quarter ended September 30, 2001 do not include the figures of Aventis CropScience Private Ltd. and therefore the results are not comparable.
The operations of the company had been adversely affected due to the drought situation.
Reliance posts net profit of Rs 1,002 crore
Reliance Industries Ltd has posted a net profit of Rs 1,002 crore for the quarter ended September 30, 2002 as compared to Rs 801 crore in the corresponding period last fiscal. Net Sales have increased from Rs 10,724 crore in SQ-01 to Rs 11,519 crore in the quarter ended September 30, 2002. Other income for SQ-02 is at Rs 204 crore as compared to Rs 260 crore in SQ-01.
The figures for the corresponding previous periods have been restated to include the effect of the amalgamation of RPL with the company wef April 01, 2001.
Medicamen Biotech Board approves issue of shares on preferential basis to NRI/OCB
Medicamen Biotech Ltd has informed BSE that at the meeting of the Board of Directors of the Company held on October 30, 2002 the following resolutions were passed subject to the approval of financial institutions:
Increasing the authorised share capital from existing Rs 75 million divided into 75,00,000 equity shares of Rs 10/- each to Rs 80 million divided into 80,00,000 equity shares of Rs 10/- each ranking parri passu with existing shares and making consequential changes in the Memorandum of Association and
To issue 10,01,324 equity shares of Rs 10/- each on preferential basis to NRI/OCB at a premium of Rs 3/- per share.
BSE imposes Special Margin on International Travel House
BSE has informed the members of the exchange that Special Margin of 25% has been imposed on International Travel House Ltd with effect from today (October 31, 2002).
Special margin will be imposed on the basis of memberwise gross outstanding purchase or sale position (Clientwise net).
CTR Manufacturing Ind announces change in management structure
CTR Manufacturing Industries Ltd has informed BSE that Mr B M Suri, has ceased to be, Chairman and Mr B R Jaju has been appointed as Chairman of the Company w e f October 28, 2002.
