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April 10, 2000
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| Crisil net rises 3.30 %, dividend at Rs 5.50/- per share
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| The Credit Rating Information Services of India Ltd has announced a marginal increase of 3.30 % in the net profits for the year ended March 31, 2000 over the previous year. The sales are down 6.59 % at Rs 339.78 million as against Rs 363.74 million for the FY 1998-99. The other income rising 65.56 % stood at 63.53 % as against Rs 38.37 in FY 1998-99. The board ahs recommended a dividend of Rs 5.50 per equity share of Rs 10/- fully paid up. During the quarter ended March 31, 2000 the company has acquired the business of Information Products and Research Services (India) Private Ltd along with its brand 'INFAC' for Rs 70 million.
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| Board meeting to declare interim dividend
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The Board of Directors of the following Companies will meet on the dates mentioned alongside to consider the declaration of interim dividend.
1. The United Western Bank Ltd (April 27, 2000)
2. City Union Bank Ltd (April 17, 2000)
3. The Sirpur Paper Mills Ltd (April 12, 2000)
4. IDBI Bank Ltd (April 20, 2000)
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| Nahar Spinning declares 35% interim dividend
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| The Board of Directors of Nahar Spinning Mills Ltd. at its meeting held today (April 10, 2000) has declared an interim dividend of 35%(Rs 3.50 per share) on the equity capital for the year 1999-2000.
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| JBM Tools board to meet for considering restructuring
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| The Board of Directors of JBM Tools Ltd. is being convened on April 15, 2000 to consider re-structuring and /or re-arranging of the company.
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| Dabur India FY 2000 net profit up by 53.75 %, Interim dividend at Rs 5/- per share
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| Dabur India Ltd has announced a net profit of Rs 173.40 million for the quarter ended March 31, 2000 as against Rs 122.70 million in MQ 99. The sales are up by 18.94 % at Rs 2560/- million. Other income is Rs 49.80 /-million (MQ99 Rs 142.60 million). The profits for the year ended March 31, 2000 are Rs 770.30 million, an increase of 53.75 % over previous year figures of Rs 501/- million. The annual sales are 42.94 % up at Rs 13075.90 million as against Rs 9147.70 million in financial year ending March 1999. The Board has declared an interim dividend of Rs 5 /- per share (50 %) for the year 1999-2000. The total interim dividend for the year 1999-2000 including this interim dividend is Rs 10/- per share. Profit for the year ended March 31, 2000 have gone up 41% (excluding non recurring other income) despite write off of Rs 850 million on account of bad debts pertaining to earlier system of credit.
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| Pentamedia to increase FII limit from 30% to 40 %, Proposes ADR/GDR
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At its meeting held today (April 10, 2000) the Board of Directors of Pentamedia Graphics Ltd has approved the following.
1. Increase in the limit of Investment by FIIs from 30% to 40% as now being permitted by RBI
2. Proposal for issue of securities by way of ADR/GDR/Equity or any other kind
3. Proposal for authorising the Board to invest /acquire Companies /enter JVs.
4. Proposal for continuing ESOP for the employees
5. Changes in the Directorate.
As a part of the ongoing restructuring process, the Board has been reconstituted. The position of the Chairman and Managing Director has been redesigned as Chairman & CEO. The Board has Co-opted Mr K Srinivasan as Director & Chief Operating Officer.
Mr V.S Sunderrajan will be Director & CEO of the US Subsidiary will continue as a director of Pentamedia Graphics Ltd
The decisions are however subject to the approval of the shareholders of the company. The Board has convened the AGM of the company on May 12, 2000 whereat the proposals shall be laid before the company and the shareholders for their approval.
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| Leading Edge to consider acquisition of US Company
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| The meeting of the Board of Directors of Leading Edge Systems Ltd. has been convened on April 11, 2000 to consider and if thought fit to approve the acquisition of Applisoft Inc USA.
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| Jyoti Structures to issue rights shares
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At the EGM of Jyoti Structures Ltd held on April 7, 2000 at Mumbai the shareholders have approved
1. Increase of Authorised Equity Capital to Rs 30/- crores and increase of Preference Share Capital to Rs 50/- crores.
2. Issue of Right Shares in the ratio of 1:1 at the price of Rs 35/- upon the terms and conditions mentioned in the resolution
3. Issue of Preference Shares on Private Placement Basis.
At its meeting held on April 7, 2000 the Board of Directors elected Mr SD Kulkarni as the Chairman of the Board.
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| HCL Infosystems to grant options under ESOP.
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| The Employees Compensation and Employee Satisfaction Committee of the Board of HCL Infosystems Ltd. has finalised the recommendation of
1. The grant of options
2. The grant date which shall be April 10, 2000
3. The Exercise price which shall be the closing market price of the shares on April 10, 2000 (the grant date) at the stock exchange where the shares are quoted and which has the highest trading volume on the grant date.
based on the ESOP scheme of the shareholders of the company .The Board of Directors will consider the above recommendations for adoption at their meeting scheduled to be held on April 18, 2000.
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| Gujarat Narmada Valley Fertilizers Company Ltd has informed BSE that Shri Gurcharan Singh has resigned from the post of the Director of the company wef April 5, 2000.
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| Pentamedia Graphic Turnover rises 38.10 % Operating Profit 18.60% PBT 56.30%, Dividend at 104 %
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Pentamedia Graphics Ltd has reported a net profit of Rs 878.10 million for the quarter ended March 31, 2000 as against Rs 402.20 million in the Corresponding quarter of the previous financial year. The sales are down 38 % at Rs 1101.80 million against Rs 1777 million in MQ 99. However, the two quarters results are not comparable in view of hiving off of the Business Software division of the company during the year. Comparing the Multimedia Business results only, the turnover has increase by 38 %, the operating profit improved by 18.60 %, and the Profit before tax has risen by 56.30 %. The annual sales and net profits are Rs 3929.90 million and Rs 1703.30 million respectively. The company has reported the following financial indicators along its quarter end results.
1. EPS (on full dilution basis) is Rs 56.53
2. Book Value per share is Rs 307.39
The equity share capital of the company has increased consequent to the issue of 1:1 bonus shares in September 1999.
The Board has recommended a final dividend of 104 % and the total dividend including interim dividend of 16 %, is 120 % for the year.
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| Kodak Net rises 456 %, Interim Dividend at Rs 3/- per Share
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| Kodak India Ltd has announced a profit of Rs 120.70 million for the quarter ended March 31, 2000 as against Rs 21.70 million for the quarter ended March 31, 1999. While sales grew 18.88 % from 1433.40 million to Rs 17.40 %, the profit before extraordinary items has improved by 926.27 %, from 21.70 million to Rs 222.70 million. Sales for the quarter ended March 31, 1999 included sales of Graphic Arts produces of Rs 59.10 million. This business was hived off on November 1, 1999. Excluding Graphic Arts, sales for MQ 2000 have increased by 24% over MQ 99.Effective January 1, 2000 the company has changed the depreciation rates for Information Technology related assets from 16.21% to 33.33%. Consequently, an additional charge of Rs 28.90 million has been taken in this quarter.
The Board of Directors has declared an Interim Dividend of Rs. 3/- per Share (30%) for the year ending 31st December, 2000.
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| Vesuvius MQ 2000 Net Profit up by 3 % at Rs 27.60 million
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| Vesuvius India Ltd has announced a net profit of Rs 27.60 million for the quarter ended March 31, 2000 as against Rs 26.80 million in MQ 99. The sales are up by 28.40 % at Rs 161.40 million. Other income is Rs 8/-million (MQ99 Rs 14.70 million). Though the PBT has risen by 35.76 % for the current quarter the PAT has grown only by 3 %. According to the company, this situation has arisen due to higher tax exposure for non-availability of carry forward tax benefit of previous years. |
| Schenectady-Beck declares 17.50% interim dividend
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| The Board of Directors of Schenectady -Beck India Ltd at its meeting held today (April 10, 2000) has declared an interim dividend of 17.5% (Rs 1.75 per share) for the financial year ended on March 31/3/2000.The record date for the aforesaid dividend is May 19, 2000. |
| Birla Global to raise long term funds
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| The Board of Directors of Birla Global Finance Ltd will meet on April 17, 2000 to consider, inter alia raising long term funds by way of debentures and/or shares, subject to necessary approvals. |
| National Plastic MQ 2000 Net Profit down by 70.29% at Rs 2.89 million
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| National Plastic Industries Ltd has announced a net profit of Rs 2.89 million for the quarter ended March 31, 2000 as against Rs 9.73 million in MQ 99. The sales and income from operations are up by 22.22 % at Rs 160.17 million. Other income is Rs 0.93million (MQ99 Rs 1.27 million). |
| Jolly Board MQ 2000 Net Profit down by 41.47 % at Rs 5.12 million
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| Jolly Board Ltd has announced a net profit of Rs 5.12 million for the quarter ended March 31, 2000 as against Rs 8.75 million in MQ 99. The sales and income from operations for MQ 2000 are up by 23.64 % at Rs 127.76 million. Other income is Rs 1.54 million (MQ99 Rs 1.61million). The profits for the year ended March 31, 2000 are Rs 25.79 million, an increase of 11.91% over previous year figures of Rs 23.04 million. The annual sales are up 26.45% at Rs 430.77 million as against Rs 340.67 million in financial year ending March 1999.The Board of Directors of Jolly Board Ltd. at its meeting held today April 10, 2000 has declared an interim dividend of 20% (Rs 2/- per share) on the equity shares for the financial year 1999-2000.
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| BOI declares 10 % interim dividend |
| The Board of Directors of Bank of India has declared an interim dividend at the rate of 10 % on the paid up capital of the company for the year 1999-2000. The above decision was taken at a meeting of the Board of Directors held on April 07, 2000. The declaration of dividend is however subject to the approval of Ministry of Finance, Government of India and the Reserve Bank of India. |
| Glaxo Group stake in Glaxo India is 51 % |
| Glaxo Group Ltd has informed the BSE that it currently holds 30,485,250 equity shares of Rs 10/- each fully paid up in Glaxo India Ltd. This holding is 51 % of the total paid up share capital of Glaxo India Ltd. |
| Telesys Software to be listed on April 10, 2000 |
| Telesys Software Ltd will be admitted to dealings on the BSE in the list of Non-Specified Securities, effective from April 10, 2000. The scrip code for the company is 32315.The company had earlier come out with an IPO at an issue price of Rs 15/- per share i.e at a premium of Rs 5/- per share. The fully paid up new equity shares allotted through public issue on March 10, 2000 are entitled for pro-rata dividend for the year ended March 31, 2000. |
| S Kumars.Com to be listed on April 10, 2000 |
| S Kumars.Com Ltd will be admitted to dealings on the BSE in the list of Non-Specified Securities, effective from April 10, 2000.The scrip code for the company is 32316.
S Kumars.Com Ltd was incorporated on May 14, 1999 and was subsequently converted into a public limited company from August 31, 1999. The company's main objects include carrying on the business of Information Technology and Information Technology related, Telecommunication related, communication systems, satellite and satellite related, software, Hardware, etc...
The company is in the process of organizing and setting up all facilities required to commence its e-commerce activities. The business plan of the company has undergone a material change as a result of the decision of the company to enter into e-commerce business in a substantially larger scale than was envisaged earlier.
Since the project if the company are under implementation the company has not earned any operational income during the quarter ended December 31, 1999.
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| Trading in Naturo Hue Chem Suspended from Aptril 10, 2000 |
| The BSE has informed its members that trading in the scrip of Naturo Hue Chem Ltd has been suspended with effect from April 10, 2000. The trading shall remain suspended until further notice. |
| BLB Ltd allots 1 million convertible warrants to promoters on preferential basis |
| The Board of Directors of BLB Ltd has allotted One million Convertible Warrants to its promoters on preferential basis. The Warrants will be converted into shares within a period of 18 months from the date of allotment. The above allotment was made at the meeting of the Board of Directors of the company at its meeting held on April 09, 2000. At the meeting the Board has fixed May 22, 2000 for the interim dividend and stock split of existing shares of the company as has been earlier approved at the EGM of the company held on April 03, 2000. |
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