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| HLL Q3 net profit up by 16.11% |
Hindustan Lever Ltd has posted a net profit of Rs 3311.60 million for the quarter ended September 30, 2000 as compared to Rs 2195.7 million in the same period last year. Net sales for the quarter ended September 30, 2000 are at Rs 24619 million as compared to Rs 24515.9 million in the quarter ended September 30, 99. Other income has increased from Rs 781.40 million in SQ 99 to Rs 918.80 million in the quarter ended September 30, 2000.
Overall sales during the quarter recorded a marginal growth of 0.4%. In Personal Wash, the premium portfolio continued to grow well while the low price segment registered a decline. Fabric Wash and Household Care recorded satisfactory growth in all segments. Personal Products categories grew modestly. Reduced volumes in low price portfolio and fall in commodity prices led to a decline in tea sales. Oils and Fats, Branded Staples and Culinary Products recorded strong volume growth, partially offset by the sharp decline in prices of vegetable oils and increased trade activities.
Exports, led by Personal Care, Beverages and Marine categories grew strongly. |
| Sri Adhikari Brothers appoints Ashu Dutt as Additional Director |
At the Board Meeting of Sri Adhikari Brothers Television Network Ltd held today (October 13, 2000) Mr Ashu Dutt is appointed as Additional Director of the company.
Mr Ashu Dutt combines a unique blend of Investment Banking and media talent. He has a diversified background of conceptualizing and building up TV channels and Investment Banking. Before joining the Board of Sri Adhikari Brothers Television Network Ltd Mr Ashu was CEO Convergence at IndiaInfoline.com responsible for conceptualization and setting up of a 24 hour business and financial news channel. Mr Ashu was also business news consultant at Star News and is a highly respected anchor. He anchored various business segments on Star News including the highly watches "Star Business".
He has been quoted and interviewed extensively in electronic and print media including the Wall Street Journal, Far Eastern Economic Review, BBC and CNBC Hong Kong.
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| Hindustan Motors clarifies on news item |
With reference to news item appeared in Financial Express regarding " Joint Venture with Proton" Hindustan Motors Ltd has informed BSE that they signed a Memorandum of Understanding (MoU) on 10th September, 1999 with Malaysia based Perusahaan Otomobil Nasional Berhad (Proton for brevity) for the limited purpose of exploring the possibilities of assembling and selling in Indian market Protons Wira model of car. As a matter of fact of there has never been a joint venture arrangement with Proton. Study of cost estimates and other variables at a subsequent stage, revealed that such manufacturing operations at that juncture would not be viable because of the presence of too many players in the mid-size segment of Indian automobile market.
We, therefore did not actively pursed implementation of the MoU which had expired by efflux of time on 10th September 2000. However, that does not mean that the relationship between the two auto giants have ceased to exist with the expiry of the said MoU. We will work for some other viable arrangements for mutual benefit of both the parties.
It is therefore, reterated that it is not true to say that there was a Joint Venture agreement between Proton and our Company far less there being any question of calling the same of for the reasons stated in the news item under referance. It appears that the presentation made by our President (Automobile Division) Mr. B.K.Chaturvedi to the print media has been misquoted by the concerned correspondent of Financial Express.
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| Gujarat Ambuja Q1 net profit down by 49.93% |
Gujarat Ambuja Cement Ltd has posted a net profit of Rs 250.6 million for the quarter ended September 30, 2000 as compared to Rs 500.50 million in the same period last year. Net sales for the quarter ended September 30, 2000 are at Rs 2902.60 million as compared to Rs 2809.5 million for the quarter ended September 30, 99. Other income has fallen from Rs 69.40 million in SQ 99 to Rs 36.50 million in the quarter ended September 30, 2000.
The company has sold 1.30 million tonnes of cement and clinker against 1.2 million tonnes had sold in the first quarter of previous year.an increase of 8.3%. The work on 2 million-cement project at Chandrapur Maharashtra is progressing well and is expected to be commissioned on schedule.
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| GL Hotels to allot equity shares on preferential basis |
| GL Hotels Ltd has informed BSE that a meeting of the Board of Directors of the company has been scheduled on October 19,2000 to consider and allot up to 38,10,666 equity shares on preferential basis to promoters and/or promoters group including individiuals and/or corporate bodies or any non-promoters including NRIs or OCBs or any person residing in India at a price of Rs 10/- per share at a premium of Rs 5/- aggreating to Rs 57.30 million as resolved in the EGM held on August 7, 2000. |
| HFCL Q2 results on October 31, 2000 |
| A meeting of the Board of Directors of Himachal Futurstic Communications Ltd will be held on October 31, 2000 to consider the un-audited financial results for the second quarter ended September 30, 2000. |
| Bausch & Lomb India introduces centralised distribution channel structure |
In order to improve the long-term business prospects Bausch & Lomb India Ltd (BLI) keeping in tune with the changing times has modified its distribution structure for the eyewear business to make it more effective and robust to meet new market challenges. The company after a careful evaluation of various succesful distribution models has introduced a centralised model reducing the number of layers between the company and the end consumer.
In the metro and mini-metro towns the company will sell the products directly to the dealers thereby ensuring an effective interaction with the end consumers and also improving overall operational effectiveness. The changes have been brought about in close collabration with the company's business partners, in an amicable manner. The changeover has been timed to coincide with the monsoons, which is the lean season. The company believes that with its existing extensive network of dealers and dedicated sales team there would be an overall improvement in the quality of service to the end consumer and this will contribute positively to the business in the long run.
Explaining the rationale company spokesman said the world over the channel for marketing sunglasses and frames depends primarily on fewer layers between the manufacturer and end consumers. By minimising the number of layers not only the interaction between the manufacturer and the end consumer is quicker but also the value addition at every stage of the channel is higher .The company has an extensive network of competent dealers as also a dedicated and motivated sales team. The changeover has also brought in a role enhancement for the sales team. |
| McDowell & Co Q2 results on October 31,2000 |
| McDowell & Co Ltd has informed BSE that the Board of Directors of the company is scheduled to meet on October 31, 2000 to consider inter alia, the unaudited financial results (provisional) for the second quarter and half-year ended September 30, 2000. |
| Ajanta Pharma clarifies on news item |
| With reference to news item "Ranbaxy Ajanta team up to market natural products" in a financial daily Ajanta Pharma Ltd has informed BSE that the company is in the process of tie-ups for our products and the arrangement with Ranbaxy is being formalized through the internal approval process. The complete details of the agreement will be submitted to the stock exchange on obtaining necessary approvals, which the company expects shortly. |
| Dabur to search for another partner for foray in insurance sector |
| With reference to news item "Dabur's insurance foray jinxed as Allstate Intn'l exits" appearing in a financial daily Dabur India Ltd has informed BSE that Dabur Group through its promoters has entered into an MOU with Allstate International Insurance Holdings for setting up life insurance company in India. Due to change in the international life strategy Allstate International Insurance had decided to withdraw from the joint venture. The Dabur Groups promoters will however continue to their efforts to enter into the insurance sector by searching another Joint Venture. |
| Polaris clarifies on news items |
| With reference to news item appearing in a financial daily dated October 5, 2000 Polaris Software Lab Ltd has informed BSE that with reference to the calling off its proposed acquisition of the New Jersey based Data Inc.and as per the terms of the Memorandum of Understanding entered into between the company and Data Inc, the maximum laibility on either of the parties will be limited upto $ 100,000 only. |
| PSI Data Systems to transfer ATM Business |
The Board of Directors of PSI Data Systems has informed BSE that they have decided to transfer their ATM business to Diehold HMA Private Limited, a leading vendor of ATMs in India. The Board authorised the Managing Director to negotiate the price and conclude the agreement for the transfer of the business to Diehold HMA Private Limited.
The Board has also appointed Mr Alain Zeitoun, Group Executive Vice President Groupe Bull as an Additional Director with immediate effect. He will hold office up to the next annual general meeting.
Mr Alain Zeitoun has recently taken charge of Bull- Asia Africa & Eastern Europe the geographic division responsible within Groupe Bull for PSIs business operations. |
| Induj Enertech SQ 2000 net profit at Rs 21.15 million |
Induj Enertech Ltd has posted a net profit of Rs 21.15 million in the quarter ended September 30, 2000 on a net sales of Rs 36.79 million for the quarter ended September 30, 2000.Other income for the quarter ended September 30, 2000 is at Rs 2.30 million. The Shares of the company were listed on BSE and NSE on 20th January, 2000 and 21st January 2000 respectively, as such the results for the corresponding period in the previous year were not prepared.
The company has posted a net profit of Rs 32.90 million for the financial year ended September 30, 2000 on net sales of Rs 78.27 million. Other income for the year ended September 30, 2000 is at Rs 4.68 million |
| Kodak India Q3 net profit up by 27.56% |
| Kodak India Ltd has posted a net profit of Rs 75.9 million for the quarter ended September 30, 2000 as compared to Rs 59.50 million in the same period last year. Net sales for the quarter ended September 30, 2000 are at Rs 1447.40 million as compared to Rs 1324.20 million in SQ 99. Other income for the quarter ended September 30, 2000 is at Rs 9.5 million as compared to Rs 7.9 million in SQ 99. |
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