|
|
|
| HCL Technologies proposes 2:1 stock split
|
The Board of Directors of HCL Technologies (HCLT) at its meeting to be held on September 4, 2000 is considering a 2:1 stock split (sub division of each existing shares of Rs 4/- into 2 equity shares of Rs 2/- each) subject to shareholders approval. Following the stock split each shareholder will receive 2 equity shares of par value Rs 2 each for every equity share of par value Rs 4 held on the record date to be fixed subsequent to the shareholders approval.
Subsequent to the stock split with 280 million equity shares HCL Technologies will have one of the largest stock amongst listed IT companies .As on August 28 2000 HCLT had 140 million shares outstanding of par value Rs 4 each.Upon completion of the stock spilt these outstanding equity shares of the company will increase to 280 million equity shares of par value Rs 2 each
Speaking on the occasion Mr Shiv Nadar Chairman,President amd CEO HCL Technologies said The decision to go for a stock split is being taken to make the share more affordable for the retail investor,including employees leading to increase retail interest and higher liquidity.
Earlier during the month HCLT had declared its annual results for 1999-00 reporting a turnover of Rs 9256/- million with net income registering a 142% growth to cross Rs 2332/- million.
HCL Technologies has increasingly focussed on the Internet and e-commerce arena and this was reflected in a 93% growth in revenues to Rs 3810/- million .The Company's focus on enhancing quality of revenues through a higher value added technology mix has yielded significant returns. Technology Development Services grew 118% to Rs 3162/- million comprising 34% of revenues. Likewise Networking Service rose 81% to cross Rs 1446 million.
To better its further growth the company lays emphasis on the concept of multiple growth windows. Recently HCL Technologies embarked on a Emerging Technologies Market Acquisition Strategy and invested 394/- million in five technology funds spanning three continents, to further enhance its geographic and technology coverage. It has also invested Rs 89 million under its Value Acquisition Strategy to enhance value for its shareholders by participating in the development of cutting edge technologies.
|
| ACC clarifies on newspaper reports |
| With reference to the news item regarding 'ACC in talks with Bridgestone to sell JV stake' appearing in a financial daily dated August 28, 2000 the company has informed BSE as under:
The Board of Directors of ACC had taken a decision in principle to divest various non-cement business. Consequently the company is exploring options to divest its interest in non-cement business activities. However at this point of time no finality has been reached with regard to our investment in Bridgestone ACC India Ltd. As regards the matter of divestment of stake in Bridgestone ACC India Ltd. no specific proposal is slated for the Board Meeting to be held on August 30, 2000.
|
| Wipro Infotech launches eCommerce services
|
Wipro Infotech, a division of Wipro Limited, today (August 28, 2000) announced the launch of eCommerce services in India in Consulting, Sustenance and Project Management and Implementation, In both the Application Build and Package Application approaches.
For the first time in India, a fixed price, fixed time solutions framework, a Portal-in-a-Box will be offered by Wipro to target start-up B2C (business to consumer) companies, and B2B (business to business) firms who want to leverage the Web for sales.
Recognising that CEO's of new start-up companies would like to outsource their technology component to a reliable partner who understands the entire gamut of technical issues involved in deploying e-commerce solutions, Wipro saw a huge demand in the market for providing its Portal-In-a-Box concept. This allows the CEO to focus on the business aspect, relying completely on Wipro to handle the technical aspects of the solution.
Elbee and HDFC Bank have partnered Wipro to bring in logistics services and payment services respectively into the solution. Portal-in-a-Box is a complete, comprehensive, end-to-end solution. It includes all the product and service components that a firm requires for establishing quick, value for money and effective presence on the web.
Launching eCommerce services in India, Wipro will focus in the areas of Content Management, Portal Development and sell side applications In the B2c space, and on sell side applications such as e-ordering, EDI Implementations, and back end integration with existing applications in the B2B space.
"We will leverage on the tremendous experience gained in Implementing eCommerce projects overseas through Wipro Technologies," said TK Kurien Chief Executive, Wipro Infotech Solutions and Services.
|
| BITS to consider stock split |
| BITS Ltd. has informed BSE that the Board of Directors of the company will meet on September 18, 2000 to consider the splitting of the equity shares of Rs 10/- each of the company into such lower denomination as may be decided by Board. |
| Aurobindo Pharma to raise Rs 1250 million |
| The Board of Directors of Aurobindo Pharma Ltd. at its meeting held today (August 28, 2000) has resolved inter alia to place a special resolution in the AGM to be held on September 28,2000 for obtaining the consent of members for raising upto Rs 1250/- million subject to other approvals by way of Rights Issue or Preferential Allotment/Global Depository Services/American Depository Receipts with suitable premium as may be considered desirable in the best interest of the company for the purpose of investment in Joint Ventures Subsidiaries abroad and also to meet other capital expenditure plans relating to R&D, formulation business and modernisation of plants for USFDA etc. |
| 3 Additional Directors appointed on Principal Markets Board |
The Board of Directors of Principal Capital Markets Ltd. at its meeting held today (August 28, 2000) has amongst other matters considered appointment of the following persons as Additional Directors of the company with immediate effect.
1. Mr Rakesh S Kathoria
2. Mr V Sridharan
3. Mr Manu Punnoose |
| Global Tele-Systems allots equity shares under ESOS |
| The Board of Directors of Global Tele-Systems Ltd. at its meeting held today (August 28, 2000) has made an allotment of 83,474 equity shares of Rs 10/- each for cash at a premium in terms of Employee's Stock Option Scheme (ESOS) of the company upon exercise of right of conversion of warrants into equity shares by the employees. |
| Padmini Technologies FY 2000 net profit at Rs 404.76 million |
Padmini Technologies Ltd. (formerly Padmini Polymers Ltd.) has posted a 127.42% growth in net profits for the year ended June 30, 2000. The net profits have increased from Rs 177.98 million in the year ended Dec 98 (18 months) to Rs 404.76 million in the year ended June 30, 2000(18 months).
Total Income for the year ended June 30, 2000(18 months) stood at Rs 5158.53 million as compared to Rs 5436.78 million in the previous year ended Dec 98(18 months). The major revenue of the company is from Technology business comprising CD, CD-ROM, Multimedia, etc. It has also been decided to hive off PET Division. With a view to reflect proper business scenario the name of the company has been changed from Padmini Polymers Ltd. to Padmini Technologies Ltd. w.e.f. June, 14 2000.
During the year company has completed the expansion of CD plant by 11 million PCs. per annum by setting up integrated plant having facilities of DSR Mastering, Replication & Printing, apart from entering into the field of DVD production, with a capacity of 5.5 million PCs per annum. |
| Ranbaxy launches Enalapril in US |
Ranbaxy Laboratories Limited, today (August 28, 2000) announced that the launch of its generic, Enalapril Maleatc Tablets, through its wholly owned subsidiary, Ranbaxy Pharmaceuticals Inc. (RPI), took off to a very encouraging start. The product was launched by RPI on August 23, 2000, subsequent to the expiry of its patent. The US Drug major, Merck & Co, is the original patent holder of this drug. The US sales of Mercks brand, in 1999, were US $806 Million.
The Company informed that it will have its second face of marketing in the US through its co-marketing partner, Purepac, an affiliate of Faulding, Australia. Ranbaxy expects to considerably enhance its reach through these two marketing faces. The product is manufactured by Ohm Laboratories Inc., a wholly owned subsidiary of Ranbaxy.
The Company has doubled its production in view of the successful launch. However due to increased generic competition in the market place, there would be expected price pressures and erosion in the segment.
The US FDA has approved 10 ANDAs for the following Companies. Eon, Par Chelsea/Watson, Ranbaxy, Apothecon, Mylan, Wockhardt, Geneva, Lek and Zenith-Goldline.
In Anticipation of Enalapril patent and exclusivity expiry, Merck has been promoting Lisinopril at the expense of Enalapril. Ranbaxy has already filed its ANDA for Lisinopril whose patent expires in June 2002. Lisinopril Sales in 1999 were US$ 1215 million. |
Credit Rating Information Services of India Ltd. India's premier credit rating agency, has launched a one-stop for Indian economic data called Crisil EcoPulse. Designed as a prefect CEO tool to track the Indian economy online, EcoPluse offers the latest available data on the real economy, the financial sector and the external sector. Information on the money markets, gilts market, foreign exchange markets and foreign portfolio investment will be updated every day. This web product includes the latest auction yields on treasury bills, government securities as well as Crisil AAA Principal Returns index and the Crisil Gilt-X index, EcoPulse will track changes in foreign exchange reserves, money supply, bank rates, credit and repo rates.
Quarterly data on balance of payments and foreign direct investment and monthly data on the trade deficit will be available at the fingertips of corporate decision-makers. Economic information on GDP growth, savings, the index of industrial production and inflation is compiled from government sources. Information on government finances including tax collections, fiscal and revenue deficits will be available quarterly.
EcoPulse will save decision-makers the time and hassle of collecting reliable economic and financial information from diverse sources by offering it to them at one point. The data is collected from official sources such as the Central Statistical Organisation, Ministry of Industry, Comptroller and Auditor General of India, DGCIS, Reserve Bank of India and SEBI, Secondary market government security yields are obtained from the debt database managed by Crisil Advisory Services. |
| Trigyn Technologies acquires balance stake in eCapital |
Trigyn Technologies Ltd. has informed BSE that the Board of Directors of the company has approved the agreement entered into by eCapital Solutions (Bermuda) Ltd. its 100% subsidiary to acquire 49% of the shares of TSC 2000 ltd.(trading as eCapital UK Ltd.) in to the Trigyn Group. The consideration is proposed to be satisfied by 1,11,235 equity shares of Trigyn Technologies Ltd. subject to applicable law and regulatory statutory and corporate approvals.
TSC 2000 Ltd. is already 51% owned by eCapital Solutions (Bermuda) Ltd. The selling shareholders are the founders of TSC 2000 Ltd. who will continue as employees of TSC 2000 Ltd. |
| Eveready to withdraw from Arc Carbons Business |
Eveready Industries India Ltd. has informed BSE that it has decided to withdraw from the business of ARC Carbons, which are primarily used in the cinema industry wef October 1, 2000. The sales of Arc carbons constituted Rs 70.20 million (i.e. less than 1%) out of a total turnover of Rs 8327.90 million for the year ended March 31, 2000.
The company has entered into an agreement with Messrs Schutz Carbon Electrodes Private Ltd. in regard to transfer of company's brands National, Natex and Feltrac which were being used for the company's carbon business. |
| Raymond finalises draft agreement for sale of cement division |
Raymond Limited has informed BSE that, pursuant to a Memorandum of Agreement dated April 27,2000 entered into between Lafarge Holdings India Ltd. and the company for the sale of the company's cement division, the company has finalised draft Agreement to transfer undertaking in favour of Lafarge India Ltd. for the said sale and authorised the execution of the same.
The actual transfer of the cement division and the receipt of the consideration will be subject to the fulfillment of the terms and conditions stipulated in the Agreement. |
| BSE revises special margin on 40 scrips |
BSE has informed its members that the following scrips which are under special margin will attract the revised rate of special margin with effect from Monday, August 28, 2000. The rates of Special Margins have been revised keeping in view the closing price of the scrip on the last day of the settlement.
SR. NO SCRIP CODE SCRIP NAME GROUP SPECIAL MARGIN NAME PER SHARE (%)
1 26433 ADVANCED SYN B2 25
2 20077 AMTEK AUTO B1 25
3 17455 ANCO COMM B2 25
4 35 BALAJI DIST B1 25
5 26443 DATASOFT APPL B2 25
6 23277 G V FILMS B2 25
7 31984 GUJARAT FISCON B2 25
8 26899 HIMALAYA INT. B2 25
9 24826 JUPITER ORGA B2 25
10 31692 KHYATI MULTI B2 25
11 30299 KOTHARI PRODUCT B1 25
12 32035 KUMBH FINANCE B2 25
13 30411 MAGAN INDS B2 25
14 6041 MAHESH AGRO B2 25
15 32048 MALVICA ENGG B2 25
16 31417 MEGA CORPN B2 50
17 17344 MINDTECK (I) B1 25
18 32089 MOH LTD B2 25
19 17334 MOTHERSON SS B1 25
20 26576 NATH SEEDS B1 25
21 31688 OCTOGON TECH B2 25
22 321 PADMINI POLY B1 25
23 32314 PENTAGON GLO B2 25
24 31611 PRRANETA INDS B2 25
25 3691 SAHARA INDIA B2 50
26 11563 SANCHAY FIN B2 25
27 30501 SARVODYA LAB B2 25
28 31980 SENTIL AGRO B2 25
29 26137 SHETRON LTD B1 25
30 23033 SOUNDCRAFT I LT B1 25
31 12299 STERLING TEA B1 25
32 31707 SUN INFOWAYS B2 50
33 24470 SYNCOM FORMULAT B2 25
34 24719 TANU HEALTH B2 25
35 31830 TODAY WRITING B2 25
36 31554 TOP CASSETTE B2 25
37 32131 TRIUMPH INTER B2 25
38 31917 TWINSTAR SOFTWA B2 25
39 26441 VISION TECH B2 25
40 32325 VITAL COMM B2 25
|
| SRG Infotec Board approves stock split |
| The board of directors of SRG Infotec Ltd. at its meeting held on August 26, 2000 considered the matter regarding splitting the face value of shares. The board decided that the nominal value of equity shares of Rs 10/- each be changed from Rs 10/- each to Rs 1/- each. The Board decided to fix October 3, 2000 as the cut off date to effect such conversion. |
Money
Rapid Information on Stocks & Corporates
Tell us what you think of this report
|
