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March 30, 2000
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| Bausch & Lomb into an agreement with Luxottica Group S.p.A
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The Board of Directors of Bausch & Lomb India Ltd (BLI) has been advised by Bausch & Lomb Incorporated, Rochester (B&L) that 44 % shares of BBLI that were held by Bausch & Lomb South Asia Inc. (BLSA) - wholly owned subsidiary of B&L have been transferred to another wholly owned subsidiary viz. Bausch & Lomb Indian Holdings Inc. (BLIH) on March 24, 2000.
BLI has also confirmed that it has been advised by Luxotica Group S.p.A (Luxottica) that Bausch & Lomb South Asia Holding Inc., a wholly owned subsidiary of B&L and the parent company of BLIH will merge into a wholly owned subsidiary of Luxottica. The merger is expected to be completed by December 2000 but in any case not later than June 2001.
In addition, the Board of Directors of BLI has received a proposal from B&L with respect to the valuation of its existing Vision Care business in India, which B&L intends to purchase from BLI through a company to be incorporated in India, subject to all government approvals being obtained. The Board has considered the proposal and decided to appoint a professional valuer to value the Vision Care business.
In addition, BLI and Luxottica have announced that they have entered into a technical assistance agreement calling for Luxottica to provide BLI with certain technical and other assistance and for BLI to provide Luxottica with certain information all as related to the Sunglasses business in India. The agreement is based on certain specified terms and conditions, prior to the consummation of the merger referred to above.
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| The following companies have announced interim dividend |
The following companies have declared the interim dividend for the financial year 1999-2000 at the rate mentioned alongside.
Company Name Interim Dividend (%) (Record date)
GNFC Ltd 20 (April 27, 2000)
Essel Packaging Ltd 54 (May 2, 2000)
HEG Ltd 18 (May 10, 2000)
Pudumjee Pulp & Papers Ltd 20 (May 5, 2000)
Gulf Oil Ltd 40 (May 12, 2000)
Alembic Ltd 35 (April 28, 2000)
Pudumjee Agro Industries Ltd 10 (May 5, 2000)
Valson Industries Ltd 15 (May 15, 2000)
MMTC Ltd 20 (May 9, 2000)
Ucal Fuel Systems Ltd 30
Advani -Oerlikon Ltd 15 (May 16, 2000)
G M Breweries Ltd 4
Chemplast Sanmar Ltd 25 (May 10, 2000)
Remsons Ltd 9
Reliance Industries Ltd 40
Blow Plast Ltd 25 (May 15, 2000)
VIP Industries Ltd 25 (May 15, 2000)
State Bank of India 25
Astra-IDL Ltd 35 (May 11, 2000)
Rungta Irrigation Ltd 10 (May 10, 2000)
Ahmedabad Electric Company Ltd 25
Themis Chemicals Ltd 15 (May 16, 2000)
Ador Fontech Ltd 15 (May 16, 2000)
Nicholas Piramal India Ltd 65
Bimetal Bearings Ltd 30 (May 3, 2000)
Bank Of Madura Ltd 43 (May 16, 2000)
Savita Chemicals Ltd 40 (May 13, 2000)
Gammon India Ltd 18 (April 28, 2000)
Infotech Enterprises Ltd 15 (May 16, 2000)
Tube Investments Ltd 25 (May 23, 2000)
Indian Hotels Ltd 40
The Supreme Industries Ltd 50
Siltap Chemicals Ltd 35 (May 27, 2000)
India Lease Development Ltd 15
K Dhandapani & Co Ltd 7.5
Asian Paints Ltd 60 (April 11, 2000)
Balrampur Chinni Mills Ltd 40 (May 16, 2000)
Sona Koyo Steering Systems Ltd 25 (May 16, 2000)
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| Inox Leasing acquires 877, 900 shares of Gujarat Fluoro at Rs 134/- per share |
| In a corresponding to the BSE Inox Leasing and Finance Ltd has informed that it has acquired 877,900 equity shares of Gujarat Fluorochemicals Ltd from Gujarat Industrial Investment Corporation Ltd at Rs 134/- per share. The said shares constitute 7.58 % of the paid up share capital of Gujarat Fluorochemicals Ltd. |
| Pidilite acquires adhesives and sealant business from Mahindra's
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| Pidilite Industries Ltd has acquired the adhesives and sealants business of Mahindra Engineering & Chemical Products Ltd, a subsidiary of Mahindra & Mahindra Ltd. The deal includes acquisition of the brands "M-Seal" and "Mr Fixit" along with the goodwill of MECP's adhesives and sealants business. |
| Precision Wires Board approves Amalgamation of Atlas Wires
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| At the Board Meeting of Precision Wires India Ltd (PWIL) held today (March 30, 2000), the Directors approved the amalgamation of Atlas Wires India (AWIL) Ltd with the company with effect from April 1, 2000. The Board also approved the exchange ratio of 1.85 fully paid equity share of Rs 10/- each of PWIL for every one fully paid equity share fo Rs 10/- each of AWIL as recommended by Arthur Andersen India Private Ltd. The above approval of the Amalgamation and the share exchange ratio is subject to the approval of the shareholders and other authorities including the High Court of Mumbai and Gujarat. |
| Fulford DQ 99 net up 37.14% at Rs 21.677 million
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| Fulford India Ltd has announced an impressive 37.14 % growth in the net profits for the quarter ended December 31, 1999 as compared to the same period in the last financial year. The net profit for the DQ 99 stand at Rs 21.68 million as against Rs15.81 million for DQ 98. The sales for DQ 99 are Rs 431.69 million as compared to Rs 427.56 million in DQ 98, a marginal increase of 0.96 %. The other income for DQ 99 is Rs 5.51 million (DQ 98 RS 5.31 million). |
| Asian Paints declares 60% second interim dividend
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| The Board of Directors of Asian Paints Ltd at its meeting held today (March 30, 2000) has declared a second interim dividend of 60%(Rs 6/- per share). With this dividend the total dividend declared for the financial year Mar 31, 2000 ending is 100%(Rs 10/- per share). The record date for the aforesaid interim dividend is April 11,2000. |
| Balrampur Chini declares 40% interim dividend
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| The Board of Directors of Balrampur Chinni Mills Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 40%(Rs4/- per share).The interim dividend will be paid on 18760775 equity shares of the Company and pro-rata dividend on 211540 equity shares of the Company which were allotted by virtue of amalgamation of Tulsipur Sugar Company Ltd. The record date for the aforesaid interim dividend is May 16,2000. |
| Sona Koyo to declare 25% interim dividend
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| The Board of Directors of Sona Koyo Steering Systems Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 25%(Rs 2.50 per share). The record date for the aforesaid interim dividend is May 16, 2000. |
| Indian Oil to acquire 60% equity stake in Lubrizol India
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| Indian Oil Corporation Ltd is set to acquire 60% stake in Lubrizol India Ltd from the Government of India. It is proposed that Indian Oil shall divest 10% of the acquired equity stake in favour of Lubrizol Corporation USA. After the divestment Lubrizol India Ltd would be a Joint Venture with 50:50 equity participation by Indian Oil Corporation Ltd and Lubrizol Corporation USA. |
| Ahmedabad Electric declares 25% interim dividend
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| The Board of Directors of Ahmedabad Electric Company Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 25% (Rs 2.50 per share). The Board has decided to keep the Register of Members and Share Transfer Books of the company closed from April 28, 2000 to May 5, 2000 (both days inclusive) for the purpose of payment of interim dividend. |
| Themis Chemicals declares 15% interim dividend
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| The Board of Directors of Themis Chemicals Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 15%(Rs1.50 per share). The record date for the aforesaid interim dividend is May 16,2000. |
| SBI declares 25% interim dividend
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| The Board of Directors of State Bank of India at its meeting held today (March 30, 2000) has declared an interim dividend of 25%(Rs 2.50 per share) for the financial year 1999-2000. |
| Rungta Irrigation declares 10% interim dividend
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| The Board of Directors of Rungta Irrigation Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 10% (Re1/- per share). The record date for the aforesaid interim dividend is May 10, 2000. |
| ASTRA-IDL declares 35% interim dividend
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| The Board of Directors of ASTRA-IDL Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 35%(Rs 3.50 per share) for the financial year 1999-2000. The record date for the aforesaid interim dividend is May 11, 2000. |
| Blow Plast declares 25% interim dividend
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| The Board of Directors of Blow Plast Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 25%(Rs 2.50 per share). The record date for the aforesaid interim dividend is May 15,
2000. |
| VIP declares 25% interim dividend
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| The Board of Directors of VIP Industries Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 25%(Rs 2.50 per share). The record date for the aforesaid interim dividend is May 15, 2000.
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| Remsons declares 9 % interim dividend |
| The Board of Directors of Remsons Industries Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 9% (Rs 0.90 per share). The Board has decided to keep the Register of Members and Share Transfer Books of the company closed from May 15, 2000 to May 17, 2000 (both days inclusive) for the purpose of payment of interim dividend. |
| Reliance Industries Interim at Rs 4/- per share
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| The Board of Directors of Reliance Industries Ltd at its meeting held today (March 30, 2000) has recommended an interim dividend of 40 % (Rs 4 /- per equity share) on the paid up share capital of Rs 10537.60 million. |
| Chemplast Sanmar declares 25% interim dividend
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| The Board of Directors of Chemplast Sanmar Ltd at its meeting has declared an interim dividend of 25%(Rs 2.50 per share) for the financial year 1999-2000. The record date for the aforesaid interim dividend is May 10, 2000. |
| G M Breweries declares 4% interim dividend
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| The Board of Directors of G M Breweries Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 4%(Re0.40 per share). The Board has decided to keep the Register of Members and Share Transfer Books of the company closed from May 12, 2000 to May 16, 2000 (both days inclusive) for the purpose of payment of interim dividend. |
| Advani-Oerlikon declares 15% interim dividend
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| The Board of Directors of Advani-Oerlikon Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 15%(Rs 1.50 per share). The record date for the aforesaid interim dividend is May 16, 2000. |
| Ucal Fuel declares 30% interim dividend |
| The Board of Directors of Ucal Fuel Systems Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 30%(Rs 3/- per share).The Board has decided to keep the Register of Members and Share Transfer Books of the company closed from May 12, 2000 to May 20, 2000 (both days inclusive) for the purpose of payment of Interim Dividend. |
| MMTC declares 20% interim dividend |
| The Board of Directors of MMTC Ltd at its meeting has declared an interim dividend of 20%(Rs2/-per share). The record date for the aforesaid interim dividend is May 9, 2000.The Company has given the provisional information for the period April 1999 to February 2000
Total Turnover Rs 41322 million, Net Profit Rs 169.7 million.
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| Valson Industries declares 15% interim dividend |
| The Board of Directors of Valson Industries Ltd at its meeting held today (March 30, 2000) has declared a second interim dividend of 15%(Rs 1.50 per share) .The record date for the aforesaid interim dividend is May 15, 2000. |
| Special Margin imposed on Karuturi Floritech, Trans Techno and Brahm Ispat |
The BSE has imposed a special margin at the rate of 25 % on the following scrips with effect from March 30, 2000
1. Karuturi Floritech Ltd
2. Brahm Ispat Ltd
3. Trans Techno Foods Ltd
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| Trading resumed in 11 scrips on the BSE |
Members of the BSE were earlier advised not to deal in the securities of the undermentioned companies because of non-compliance of listing requirements regarding intimation of dates of closure of Register of Members / Record Dates to the Exchange. The BSE now informed its members that dealing in the securities can now be resumed in these scrips with effect March 30, 2000.
1. Asian Independent Network Ltd
2. Baroda Extrusion Ltd.
3. Combat Drugs Ltd.
4. Dunlop India Ltd.
5. Link International Corporate Services Ltd.
6. Natraj Proteins Ltd.
7. SGN Cable Industries Ltd.
8. STG India Ltd.
9. Satkar Electronics Ltd.
10. Seasons Furnishings Ltd.
11. Sobhagya Merchantile Ltd.
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| Pudumjee Agro declares 10% interim dividend |
| The Board of Directors of Pudumjee Agro Industries Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 10% (Re 1/- per share) for the financial year 1999-2000.The record date for the aforesaid interim dividend is May 5, 2000. |
| Alembic Ltd declares 35% interim dividend, to join Depositary system |
| The Board of Directors of Alembic Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 35% (Rs 3.50 per share). The record date for the aforesaid interim dividend is April 28, 2000.
The Board of Directors has also decided to join Depository System by signing agreements with both the depositories i.e. NSDL and CDSL.
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| Gulf Oil interim dividend at 40 % |
| The Board of Directors of Gulf Oil Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 40% (Rs 4/- per share) for the financial year 1999-2000.The Board has fixed May 12, 2000 as the record date for the aforesaid interim dividend. |
| Pudumjee Pulp declares 20 % interim dividend |
| The Board of Directors of Pudumjee Pulp & Papers Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 20% (Rs 2/- per share) for the financial year 1999-2000.The record date for the aforesaid interim dividend is May 5, 2000. |
| Evergo Capital to merge Advent Business with itself, raise FII investment limit |
The Board of Directors of Evergo Capital Ltd has decided as under:
1. Merger of Advent Business Machines Ltd. (ABML) with the company. 25 shares of the company will be allotted for every 2 shares of ABML held.
2. Employees Stock Option Scheme.
3. Investment of FIIs, NRIs & OCBs to acquire shares of the company within the overall ceiling limit of 40% of the paid up equity share capital of the company.
4. Dematerialisation of shares of the company.
5. EGM of the company will be held on 29.04.2000.
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| Innosoft Technologies to consider preferential issue to FIIs |
The Board of Directors of Innosoft Technologies Ltd will meet on April 3, 2000 to consider the proposal of allotment of equity shares on preferential basis to the following FIIs
1. Taib Securities Mauritius Ltd 50,000 shares at Rs 3,700,000/- and
2. DBMGOF Mauritius Ltd 50,000 shares at Rs 3,700,000/-
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| Shilpa Antibiotics declares 10% interim dividend |
| The Board of Directors of Shilpa Antibiotics Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 10% (Re 1/- per share) for the financial year 1999-2000. |
| NuCent Finance to consider redemption of NCDs |
The Board of Directors of NuCent Finance Ltd will meet on March 31, 2000 to consider redemption of 2,004,275, 14 % Non-Convertible Debentures as below.
1. 1,356,900 14 % NCDs held by ICICI Ltd
2. 647,375 14 % NCDs held by ICICI Securities & Finance Co. Ltd.
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| Apollo Hospitals to allot shares at Rs 365/- per share on preferential basis |
The Board of Directors of Apollo Hospitals Ltd will meet on April 7, 2000 to consider allotment of equity shares on preferential basis as under.
1. 2,000,000 equity shares to FIIs, MFs, at the rate of Rs 365/- per share on private placement basis.
2. Allotment of 795,545 equity shares to promoters (Dr Prathap C. Reddy and his relatives) at the rate of Rs 152.50 per share on preferential basis.
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| HEG declares 18% interim dividend |
| The Board of Directors of HEG Ltd at its meeting held on March 29, 2000 has declared an interim dividend of 18 % (Rs 1.80 per share) for the financial year ended March 31, 2000. The record date for the aforesaid interim dividend is May 10, 2000. |
| Essel Packaging declares 54% interim dividend |
| The Board of Directors of Essel Packaging Ltd at its meeting held on March 29, 2000 has declared an interim dividend of 54 % (Rs 5.40 per share). The record date for the aforesaid interim dividend is May 2, 2000. |
| GNFC declares 20% interim dividend |
| The Board of Directors of GNFC Ltd at its meeting held today (March 30, 2000) has declared an interim dividend of 20 % (Rs 2/- per share) for the financial year 1999-2000. The record date for the aforesaid interim dividend is April 27, 2000. |
| The Board of Directors of the following companies will meet on the dates mentioned alongside to consider the declaration of interim dividend. |
1. Rama Phosphates Ltd (March 31, 2000)
2. Paramount Communications Ltd (March 31,2000)
3. State Bank of India Ltd (March 30, 2000)
4. IVP Ltd (March 31, 2000)
5. Clariant India Ltd (April 7, 2000)
6. Alco Chemicals Ltd (April 5, 2000)
7. Rungta Irrigation Ltd ( March 31, 2000)
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| K Dhandapani declares 7.5% interim dividend |
| The Board of Directors of K Dhandapani & Co Ltd at its meeting held on March 29, 2000 has declared an interim dividend of 7.5 % (Re 0.75 per share). The Board has decided to close the Share transfer books and Register of Members of the company from May 1,2000 to May 10, 2000 (both days inclusive). |
| Ranbaxy files application for Asthma Molecule |
Ranbaxy Laboratories announced on March 29, 2000 the filing of IND (Investigational New Drug) application of its new Ashtma molecule - RBx-4638 after a successful completion of pre-clinical trials. Ranbaxy claims to be the first company in India to file such a novel drug compound.
The molecule belongs to the respiratory therapeutic segment. The Trade name for this molecule is CLAFRINAST. The activity of this molecule is that of steroids and is free from side effects of steroids. According to the company it reflects a good margin of safety and therapeutic index.
According to the company RBx-4638 is a cutting edge molecule and Ranbaxy is looking at the option of a collaborative partnership with an overseas company for co-development. The company feels it would be beneficial to partner with a company that has relevant experience in this area. According to the company estimates the worldwide market for asthma products will touch $ 19.40 billion by 2004.
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