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March 23, 2000
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| The Board of Directors of the following companies will meet on the dates mentioned alongside for the purpose of declaring interim dividend. |
1. Advani Oerlikon Ltd (March 30, 2000)
2. Dutron Polymers Ltd (March 28, 2000)
3. Sanwaria Agro Oils Ltd (March 30, 2000)
4. Gujarat Automotive Gears Ltd (March 31, 2000)
5. Benares Hotels Ltd (March 29, 2000)
6. Themis Chemicals Ltd (March 30, 2000)
7. Reliance Capital Ltd (March 28, 2000)
8. English Indian Clays Ltd (March 31,2000)
9. Chemplast Sanmar Ltd (March 30, 2000)
10. Hitech Drilling Services Ltd (March 31, 2000)
11. Graphite India Ltd (March 28, 2000)
12. Ador Infotech Ltd (March 30, 2000)
13. The Ahemdabad Electric Co Ltd (March 30, 2000)
14. Diana Tea Company Ltd (March 29, 2000)
15. Goetze India Ltd (March 31, 2000)
16. Lahoti Overseas Ltd (March 30, 2000)
17. Hotel Leela Venture Ltd (March 29, 2000)
18. Tvs Srichakra Ltd (March 28, 2000)
19. Reliance Industrial Infrastructure Ltd (March 29, 2000)
20. Bharat Rasayan Ltd (March 31, 2000)
21. I P Rings Ltd (March 31, 2000)
22. Jay Bharat Maruti Ltd (March 29, 2000)
23. Wires and Fabrics Ltd (March 31, 2000)
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| Nayagara Paper Products India to consider issue of equity shares on preferential basis |
| The Board of Directors of Nayagara Paper Products Ltd will meet on March 30, 2000 to consider among other things, issue of 4,500,000 fully paid up equity shares of Rs 10/- each at par, for consideration other than cash, in the ratio of 125 shares of Nayagara Paper Products (I) Ltd , for every 100 shares of M/s Nayagara Industries Ltd. |
| Gini Silk Mills Declares 10% Interim Dividend |
| The Board of Directors of Gini Silk Mills Ltd at its meeting held today (23/03/2000), has decided to disburse Rs 5,644,556/- as an interim dividend of 10 % on 5,644,556 equity shares of Rs 10/- each.The Board has fixed May 9, 2000 as the record date for the purpose of taking a record of its shareholders entitled to the interim dividend. |
| Morepen to consider ESOP and Stock-Split |
| The Board meeting of Morepen Laboratories Ltd is scheduled on March 28, 2000 to consider Employee Stock Option Scheme and Stock Split. |
| Tata Power, Tata Hydro, Andhra Valley, Declares 37% interim dividend |
| The Board of Directors of three companies viz. The Tata Power company Ltd, The Andhra Valley Power Supply Company Ltd and The Tata Electric Power Supply Company Ltd, at its meeting held today, has declared an interim dividend of 37 % Rs 3.70/- per share, each, to the equity shareholders of the company. |
| Hughes Software declares 20% interim dividend |
| The Board of Directors of Hughes Software Systems Ltd at its meeting held today (23/02/2000), has declared an interim dividend of 15 % for the financial year 1999-2000. The Board has fixed May 2, 2000 as the record date for the purpose of determining the shareholders who shall be entitled to the interim dividend. |
| Intensive Air Systems to consider re-issue of Forfeited shares |
| The board of Directors of Intensive Air Systems Ltd will meet on March 29, 2000 to consider among other things the re-issue of forfeited shares of our company. |
| Alpic Finance withdraws dividend declaration |
| At a meeting of the Board of Directors of Alpic Finance Ltd held today (23/03/2000) it was decided to withdraw the recommendation for the payment of dividend of 15 % on the equity shares for the year ended June 30, 1999. Consequently resolution regarding the payment of dividend for the year ended on that date was dropped at the 14th Annual General Meeting of the company held today. |
| Raymond declares 15% interim dividend |
| The Board of Directors of Raymond Ltd at its meeting held today (23/03/2000), has declared an interim dividend of 15 % on equity shares of the company for the year ending March 31, 2000. The Board has fixed May 3, 2000 as the record date for the purpose of taking a record of its shareholders entitled to the interim dividend. |
| Pfizer and Shantha ally to market Hepatatis B Vaccine |
| Pfizer India has entered into an alliance with Shantha Biotechnics, a Hyderabad based biotechnology company, to co-market its Hepatitis B Vaccine. According to the company the advantage of the Pfizer-Shantha alliance is the infusion of global manufacturing and marketing practices which will benefit an excellent indigenous manufacturing and marketing practices which will benefit an excellent indigenous product. |
| Sterlite clarification on newspaper reports |
In response to an inquiry made by the BSE, Sterlite Industries (India) Ltd has clarified that, the Board had appointed Arthur Andersen to review the company's telecom, copper and aluminum operations and make recommendations on restructuring the businesses to enable the company to leverage on its existing strengths and to enhance shareholder value.
Arthur Andersen is in the process of completing the exercise and presenting their recommendations to the Board. According to the company's correspondence "This has not happened as yet and therefore to conclude that the company is undertaking a two way split is a conjecture of the reporters and not based on any concrete facts".
The Board is meeting on April 4, 2000 to consider the recommendations of Arthur Andersen and decisions will be communicated thereafter.
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| Bayer Diagnostics Net Profit up 32% at Rs 36.827 million, 65% Final Dividend |
| Bayer Diagnostics India Ltd has announced an impressive growth of 32% in its net profit for the financial year ending December 31, 1999. The net profit for the year stand at Rs 36.827 million as compared to Rs 27.902 million for the previous financial year. The sales for the year is Rs 429.659 million as against Rs 327.164 million in FY 98, an increase of 31.33 %. The other income is down by 48 % at Rs 2.788 million (FY 98 Rs 5.394 million). The Board has recommended a final dividend of Rs 6.50/- per equity share for the year ended December 31, 1999. |
| JCT Ltd defers hive-off of PSF and Synthetic fibre units |
| The Board of Directors of JCT Ltd at its meeting held today (23/03/2000) has decided to defer the matter of Hive-off the Polyster Staple Fibre Unit and of the Synthetic Fibre Division at Hoshiarpur. |
| Gramophone Company to exploit Pyramid catalogue internationally |
| Gramophone Company of India Ltd (GCIL) through wholly owned subsidiary RPG Global Music Ltd, Mauritius has entered into a seven year sole and exclusive licensing agreement with Pyramid International Pte. Ltd., Singapore. The agreement is for the exploitation of audio rights of Pyramid's catalogue in the international market. The agreement was signed recently in Singapore between Pyramid and RPG Music Global Ltd, which was set up recently in Mauritius to cover the world rights excluding the territories of US, UK, Europe, Canada, Carribean Islands and South Africa. GCIL has also acquired from Pyramid the world Audio Rights of ten Tamil films including two forthcoming films "Rhythm" and "Udaya" for which music has been composed by A.R. Rehman. Pyramid is a household name amongst the Tamil population in India and abroad, set up its international music division in 1992 and acquired the audio rights of most major Tamil titles during this period. |
| Ranbaxy second interim dividend at Rs 5/- per share |
| The Board of Directors of Ranbaxy Laboratories Ltd at its meeting held today (23/03/2000), has declared second interim dividend of Rs 5/- per share for the year ended December 31, 1999. The company has already paid 1st interim dividend of Rs 2.50/- per share to the shareholders for which the record date was March 1, 2000. The record date for the second interim dividend has been fixed at May 5, 2000. |
| Dr Reddy's Lab declares 25% Interim Dividend, Plans ADR issue up to USD 200 million |
| The Board of Directors of Dr. Reddy's Laboratories Ltd at its meeting held today (23/03/2000), has declared an interim dividend of 25% for the year 1999-2000. The Board has fixed April 21, 2000 as the record date for the payment of the interim dividend. It was decided at the meeting to issue American Depositary Shares to the extent of US $ 200 million. The company will increase its Authorised Capital from Rs 300 million to Rs 500 million. The EGM of the company is scheduled on April 25, 2000.
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| EZ-Comm Trade to spin off IT business into separate entity |
At the meeting of the Board of Directors of EZ-Comm Trade Technologies Ltd held on March 21, 2000 among other things, the following matters were taken up and discussed:
1. An in-principle approval of the Board was taken for opening up a foreign office of the company preferably in London, Singapore, and/or Washington DC.
2. The Board took up the matter of incorporating a wholly owned subsidiary company outside the country.
3. The Board decided to separate the Information Technology division viz., Polysteronline.com and Spunonline.com into two separate entities by spinning them off from the company.
4. The Board also decided to obtain fresh capital from outside strategic investor on a private placement basis.
5. The Board decided to invest its surplus funds in the capitals of information technology companies in the form of equity and/or debt.
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| Madras Cements declare 55% Interim Dividend |
| The Board of Directors of Madras Cements Ltd at its meeting held today (23/03/2000), has declared an interim dividend of Rs 55/- per share (55%) for the year 1999-2000. The dividend will be paid to the members whose names appear on the register of members of the company as on May 16, 2000. |
| Polaris into strategic alliance with Marshall & Iisley Corp-USA |
| Chennai based Polaris Software Lab Ltd has struck a strategic partnership with Marshall & Iisley Corporation-USA to develop, market and implement software based on the EastPoint banking Software. As a definite strategy to consolidate the focus on the banking sector Polaris has entered into a strategic alliance with M&I EastPoint Technology Inc by virtue of which Polaris will hold licensing rights for the international version of the banking product. |
| GE Shipping declares 15% Interim Dividend |
| The Board of Directors of Great Eastern Shipping Company Ltd at its meeting held today (23/03/2000) has declared an interim dividend of Rs 1.50/- per share (15%) for the year 1999-2000. The dividend will be paid on the reduced capital of the company, which reduction has taken place under the scheme of Arrangement (Demerger) with effect from April 1, 1999. |
| Wendt (India) declares interim dividend of 75% |
| The Board of Directors of Wendt (India) Ltd has declared an interim dividend of 75%(Rs 7.50 per share) at their meeting held on March 22, 2000 The record date for the aforesaid dividend is April 19, 2000 |
| Jindal Polyester declares 25% dividend, to set up a software unit |
| The Board of Directors of Jindal Polyester Ltd has declared an interim dividend of 25%(Rs 2.50 per share) at their meeting held on March 22, 2000. The record date for the aforesaid payment is May 4, 2000 The Company has decided to set up a new unit in Noida for processing and exporting computer software. |
| Good Luck Steel Declares 15% Interim Dividend
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| The Board of Directors of Good Luck Steel Tubes Ltd at its meeting held on March 22, 2000 has declared an interim dividend of 15 % (Rs 1.50/- per share). Record date for the purpose of payment of interim dividend has been fixed at May 5, 2000. |
| Ruchi soya declares 14% interim dividend |
| The Board of Directors has declared an interim dividend of 14% at their meeting held on March 22, 2000 |
| FDC declares 60% interim dividend |
| The Board of Directors has declared 60% interim dividend at their meeting held on March 23, 2000. The record date for the aforesaid interim dividend is April 19, 2000. |
| Bhagyanagar Metals plans buy-back |
| The Board of Directors of Bhagyanagar Metals Ltd will meet on April 3, 2000 to consider a buy-back of the equity shares of the company. |
| Hindalco buys Alcans stake in Indal at Rs 190/- per share, public offer to follow, announces special millennium dividend of Rs 5/- per share |
The Board of Directors of Hindalco Industries Ltd has declared a special millenium dividend of Rs 5/- per share, at the rate of 50 % of the paid up equity share capital of the company. The Board has fixed April 25, 2000 as the record date for the payment of millennium dividend.
The Board of Directors has approved the proposal to enter into an agreement with Alcan Aluminum Ltd of Canada, for the purchase of 38,844,324 shares constituting 54.60 % of the paid up capital of Indian Aluminum Company Ltd (INDAL) for a price of Rs 190/- each. The purchase is subject to the approval of the RBI under FERA, 1973, and the relevant approvals from the Department of Company Affairs.
The Board has also decided to make an open offer to acquire up to 20% share from the general public as per the SEBI regulations.
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| B K Duplex board to consider expansion plans |
| The Board of Directors will meet on March 27, 2000 to consider besides other matters, the expansion plans for the company. The Board will also consider the meeting means of financing its expansion plans.
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The RBI vide its letter dated March 3rd, 2000, has advised that the following companies, have passed a resolution at their General Body Meeting agreeing for the purchase of their equity shares and convertible debentures by NRIs/OCBs/PIOs upto 24% of their paid up capital through Stock Exchanges under the Portfolio Investment Scheme:
Svam Software Ltd
Rama Petrochemicals Ltd
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| Esquire Money to change name to N21 Telecom (India) Ltd |
The Board of Directors Esquire Money Guarantees Ltd has decided as under:
1. Change in the name of the company to N21 TELECOM (INDIA) LIMITED.
2. Amendment in object clause in MoA of the company.
3. Issue of shares to promoters, directors & their relatives and associates and others on preferential basis.
4. EGM of the company will be held on 13.03.2000.
The above decisions are however subject to necessary approvals.
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| Cinerad Communications finalizes preferential allotment |
The Board of Directors of the Cinerad Commmunications Ltd has finalized allotment of 22,00,000 equity shares of Rs.10/- each at a premium of Rs.20/- per share offered and issued on a preferential allotment basis. The Board proposes to utilise the proceeds of the above issue of shares for the following purposes:
1. Repayment of all outstanding dues to financial institutions and bank, with a view of making the company totally debtfree.
2. Production of television serials and other television programmes.
3. Meeting the long term working capital requirements of the company.
4. Upgradation of studio equipment.
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| Selan Exploration appoints HSBC Securitiesd as broker for buy-back |
| Selan Exploration Technology Ltd has appointed HSBC Securities India Holdings Pvt. Ltd. as its broker for the buy-back of its shares through the BOLT System up to 26.09.2000. |
| Selan Exploration appoints HSBC Securitiesd as broker for buy-back |
| Selan Exploration Technology Ltd has appointed HSBC Securities India Holdings Pvt. Ltd. as its broker for the buy-back of its shares through the BOLT System up to 26.09.2000. |
| Strike at Indian Rayon Veraval plant called off |
| Indian Rayon and Industries Ltd has informed the BSE that the strike from March 11, 2000 by a section of workers at its Viscose Filament Yarn plant at Veraval,(Gujarat) has been called off from the night of March 22, 2000. The company is restoring normalcy at the plant. |
| Consolidated Coffee Interim Dividend at 50%
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| The Board of Directors of Consolidated Coffee Ltd has declared an interim dividend at the rate of 60% (Rs 6/- per share) for the year ended March 31, 2000. The said decision was taken by the Board at its meeting held on March 18, 2000. |
| Hindustan Inks and Resins declares 50% interim dividend
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| The Board of Directors at their meeting held on March 22,2000 have declared an interim dividend of 50% (5 per share) The record date for the aforesaid dividend is May 8 ,2000 |
| Alpic Finance to review recommended dividend on IFCI direction |
| The Board of Directors to review the recommended dividend of 15% for the year ended June 30th 1999 on IFCI direction at their meeting to be held on March 23, 2000. |
RISC
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