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April 3, 2000
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| Moser Baer in R & D tie up with 4M, world Leader in CDR Technology |
Moser Baer India Ltd (MBIL) has entered into a R&D tie up with 4M Technologies a world major in R&D in the optical media field. Under this agreement both the companies will jointly implement R&D programmes on optical media processes and more advanced media formats.
The R&D will focus on developing newer, faster and more reliable CD-R products, improving existing CDR processes to reduce manufacturing cost and developing new high density storage formats for both DVD-R and higher density DVD formats.
On the occasion of this new development Mr. Rahul Puri, General Manager, Business Development, MBIL said, " We hope to develop cheaper and technically innovative optical media devices for the world market with 4M".
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| Bharat Electronics estimated PBT rises 116% |
| Bharat Electronics Ltd has achieved a sales Turnover of Rs 14,964 million during 1999-2000, an increase of 24.80 % over the previous years turnover of Rs 11,991 million. The estimated Profit before tax is Rs 1520 million as against Rs 702.10 million in the previous year, an increase of 116 %. The above figures are as reported by the company to the BSE. However the results for the quarter ended March 31, 2000 is being compiled and will be placed before the Board of Directors of the company at a Board Meeting scheduled on April 17, 2000. |
| Prima Plastics commences production at Daman Unit |
| Prima Plastics Ltd. has commenced commercial production at its new unit at Daman. The unit is expected to contribute around 12% rise in the company's turnover for the year ending March 31,2001. |
| J B Chemicals to merge two pharma divisions |
At the Board meeting of J B Chemicals & Pharmaceuticals Ltd held today (April 3, 2000) the board has decided to amalgamate the pharma division of Unique Pharmaceuticals Ltd and Ifiunik Pharmaceuticals Ltd. It is expected that the proposed amalgamation will make available benefits of combined financial resources, technical and managerial expertise and would result in better utilization of the assets. Also the amalgamation will result in considerable synergy by achieving higher efficiency and better profitability.
The process of obtaining clearance from various government department /agencies will soon start and it is expected that the formalities required for amalgamation will be completed within the next five to six months. The amalgamation is proposed to be effective from April 1, 2000.The shareholders of Unique Pharmaceutical Laboratories Ltd and Ifiunik Pharmaceuticals Ltd will be given the shares of J B Chemicals & Pharmaceuticals Ltd. The ratio of allotment of shares is to be recommended by M/s Bansi S Mehta & Co who have been entrusted with assessing the businesses of the three companies.
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| Fal Industries declares 22% interim dividend |
| The Board of Directors of Fal Industries Ltd at its meeting held today (April 3, 2000) has declared an interim dividend of 22% (Rs 2.20 per share) .The record date for the aforesaid dividend is May 16, 2000. |
| Sanjivani Paranteral board reshuffled |
The Board of Directors at its meeting held on March 31, 2000 has taken the following decisions
1.Mr PB Mathurh has been appointed as a Additional Director and Wholetime Director of the company subject to approval of members in general meeting .
2.Mr Sirjivan Singh has resigned from the post of Whole Time Director of the company wef March 31,2000.
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| Sri Adhikari Brothers in tie up with US Company for animation software |
Sri Adhikari Brothers Television Network Ltd has entered into a joint venture with Etiam e Media Inc., an information technology solutions company from Silicon Valley - USA for animation software. The joint venture company, "Etiam Emedia Ltd" will set up state of the art studio to undertake start to end development of Animation graphics, Animated cartoons and Animated feature films. The studio will also provide for 2D and 3D technology and digital imaging for content and film production, SAB would acquire 26 % of the equity of Etiam Media Ltd and the balance equity will be with Etiam group and private high networth individuals.
The joint venture is in advance stage of negotiations with a world-renowned studio in USA/Canada to enter into a contract for supply of animated software to the studio for global market. The Indian studio will be support base for backend engineering for foreign studio's requirements.
Sri Adhikari Brothers will also use this opportunity to develop its own animation content, which will be telecast on its channel besides exploring the global markets.
The joint venture is likely to post a turnover of about US$ Five to Ten million in the first couple of years.
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| Selan Exploration buys 4,600 shares for Rs 51,520/- |
| Selan Exploration Technology Ltd has informed the BSE that the company has bought 4,600 equity shares for a total consideration of Rs 51,520/-. The company has bought the shares today i.e April 03, 2000. Cumulatively the company has bought 4,600 shares. |
| Nestle India interim dividend at Rs 8/- per share |
| Nestle India ltd has declared an interim dividend at the rate of Rs 8/- per equity share for the year 2000. The interim dividend includes Rs 4.50/- per share out of undistributed profits of previous financial years. The interim dividend of Rs 8/- per share and the final dividend of Rs 4.50/- per share (Final Dividend is subject to approval of the shareholders at the forthcoming AGM on April 24, 2000) is proposed to be paid on/from May 10, 2000. |
| Fidelity Industries Makes preferential issue at Rs 40/- per share |
| The Board of Directors of Fidelity Industries Ltd at its meeting held on March 31, 2000 has allotted 4,002,700 equity shares at a premium of Rs 35/- per share aggregating to Rs 180,121,500/- on preferential basis. The allotment was made for cash to promoters and their associates. The allotment was made based on the approval by the shareholders on the same day at their EGM. |
| SSI's first Cyberschool goes online |
| SSI Ltd unveiled its first technology based learning center "Cyberschool" in Chennai, which will cater to the new age learning community. Commenting on Cyberschool, Mr Bala Gopal Menon, CEO-SSI Education said "Cyberschool is an effort to provide high-end software education to the new generation learning audience who wish to learn at their own pace. This in line with SSI's commitment to lead the market in offering innovative products and services in software education." Cyberschool is equipped with state-of-the-art learning facilities and the education will be delivered through highly interactive CD-ROMs. Cyberschool will allow SSI education to take advantage of the characteristics of the Internet, CD-ROMs and a typical brick and mortar education center and provide optimal education that is a flexible and judicious mix of all three media in the right proportions. "The Cyberschool are targeted at a niche learner profile and these will not compete with the existing education centers of the company" Mr Menon added. |
| Dredging Corporation declares 25% interim dividend |
| The Board of Directors of Dredging Corporation Ltd at its meeting held today (April 3, 2000) has declared an interim dividend of 25% (Rs 2.50 per share) .The record date for the aforesaid dividend is May 16, 2000. |
| Hindustan Hardy Spicer declares 20% interim dividend |
| The Board of Directors of Hindustan Hardy Spicer Ltd at its meeting held on March 31,2000 has declared an interim dividend of 20% (Rs 2/- per share) .The record date for the aforesaid dividend is May 16, 2000. |
| Parke Davis declares 50% interim dividend |
| The Board of Directors of Parke-Davis (India) Ltd at its meeting held today (April 3, 2000) has declared an interim dividend of 50% (Rs 5/- per share) .The record date for the aforesaid dividend is May 4, 2000. |
| Tyroon Tea Co declares 10 % interim dividend |
| The Board of Directors of Tyroon Tea Co. Ltd has declared an interim dividend at the rate of 10 % for the financial year 1999-2000. The interim dividend will absorb a sum of Rs 3,402,100/-. The dividend will be payable to all shareholders whose names appear on the register of members as on May 16, 2000, the record date fixed for the above purpose. |
| Mardia Chemicals loss down by 21.41 % |
| Mardia Chemicals Ltd has announced a net loss of Rs 2820.46 million for the financial year ended March 31, 2000 as against Rs 3589 million for the previous year ending March 31, 1999, a decrease of 21.41 %. The sales for the FY 2000 are up 4.72 % at Rs 2084.30 million as compared to Rs 1990.09 million in FY 1999. Other income is 46.78 million, down by 3.10 % as against Rs 48.28 million in FY 1999. |
| Mudra Consultants name changed to M/s M Womeninfoline.Com Ltd |
| The name of the company, Mudra Consultants Ltd has been changed to M/s M Womeninfoline.Com Ltd with effect from March 30, 2000. The change of name of the company will not affect any rights or obligations of the company or render defective any legal proceedings by or against it. Also the name change will not affect any contracts between the company and other parties. |
| ION Exchange appoints Mr. Rajesh Sharma as MD |
| ION Exchange (India) Ltd has informed the BSE that the company has appointed Mr Rajesh Sharma as the managing Director of the company with effect from April 01, 2000. From the same date Mr G.S. Ranganathan (Chairman & Managing Director) will be the Executive Chairman of the company. |
| Bhagyanagar Metals to buy back shares at Rs 80/- per share |
| The Board of Directors of Secunderabad based Bhagyanagar Metals Ltd will recommend the shareholders of the company, a proposal for buy back of up to 750,000 equity shares of the company at a price of Rs 80/- per share, for their approval at the forthcoming AGM. It is also proposed that persons belonging to the promoter group will offer a proportionate part of the shares held by them, in the proposed buyback to maintain their present level of shareholding in the company. The above decisions were taken by the Board of Directors of the company at its meeting held today (April 03, 2000). |
| REI Agro announces 6 % interim |
| REI Agro Ltd has declared an interim dividend of 6% for the current year (1999-2000). May 16, 2000 has been fixed as the record date for the said interim dividend. The above decision has been taken at the meeting of the Board of Directors of the company on March 31, 2000. |
| Madhur Food declares 6 % interim dividend |
| The Board of Directors of Madhur Food Product Ltd at its meeting held on March 31, 2000 has declared an interim dividend at the rate of 6 % on the equity share capital of the company for the year 1999-2000. The Board has fixed May 16, 2000 as the record date. |
| S B & T to issue up to 5 % equity to strategic business partner
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| S B & T International Ltd has decided to issue up to 5 % of the equity share capital of the company on private placement basis to a strategic business partner for e-commerce business. The company will issue the shares at a price to be determined in accordance with the guidelines issued by the SEBI for preferential issue of shares. The company has also declared an interim dividend at the rate of 10 % for the financial year 1999-2000. The record date for the payment of the said interim dividend has been fixed at May 15, 2000. The above decisions were taken by the Board of Directors of the company at its meeting held on March 31, 2000. |
| Multi-Arc to allot 4,800,000 shares to Jem Fiscal
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| The Board of Directors of Multi-Arc India Ltd at its meeting held on April 1, 2000 has decided to allot 4,800,000 equity shares of 10/- each to Jem Fiscal Ltd (JFL) at a price of Rs 25/- per share (including premium of Rs 15/- per share). The price at which the shares shall be allotted is higher than the price computed in accordance with the guidelines prescribed in this regard by the SEBI. The allotment is subject to the necessary sanctions/approvals as may be required. There will be no change in the day to day management as a result of the aforesaid allotment. After the allotment JFL will hold 58.53% stake in the company. Subsequently the promoters holding (including foreign promoters) will fall from 34.059% to 14.12% and the public shareholding will fall from 58.457% to 24.25%. The Foreign Nationals/NRI holding will fall from 7.484% to 3.10%. JFL will nominate up to 2 (two) directors on the Board of Multi-Arc Ltd. |
| Relic Finance decides Preferential issue and Rights issue
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| The Board of Directors of the Relic Finance Ltd has decided to place 1,500,000 equity shares on preferential basis with FIs/FIIs/MFs/Banks and others. The Board has also decided to issue 9,00,000 equity shares on rights basis. |
| Mannesmann Rexroth to sell property |
| The Board of Directors of Mannesmann Rexroth (India) Ltd has approved, subject to necessary approvals, the sale of property consisting lease-hold land from Maharashtra Industrial Development Corporation, office building, factory shed, furniture, fixtures and fittings. |
| Mac Charles Promoters buy back 2,00,000 shares from IDBI at Rs 30/- each |
| IDBI has informed the BSE that, the promoters of Mac Charles (India) Ltd. have bought back 2,00,000 shares of Rs.10/- each of the company held by IDBI @ Rs.30/- Per share. |
| Karan Woo-sin to issue convertible warrants to promoters |
| The Board of Directors of Karan Woo-sin ltd. has decided to issue convertible warrants to the promoters. |
| Rama Newsprint allots shares to ICICI |
| The Board of Directors of Rama Newsprint and Papers Ltd at its meeting held on March 31, 2000 has allotted 3,81,32,129 equity shares to ICICI. |
| Agro Dutch declares 10% interim dividend |
| The Board of Directors of Agro Dutch Foods Ltd at its meeting held on April 1, 2000 has declared an interim dividend of 10% (Re 1/- per share) for the year 1999-2000. The record date for the aforesaid dividend is May 8, 2000. |
| BSE resumes trading in Six scrips |
Members of the BSE were earlier advised not to deal in the securities of the undermentioned companies because of non-compliance of listing requirement regarding intimation of dates of closure of Register of Members/ Record Date to the Exchange. BSE has now informed its members that dealings in the securities can now be resumed with effect from April 03, 2000.
1. Axel Polymers Ltd.
2. Brindavan Garden Ltd.
3. Indo-Germa Products Ltd.
4. Majjarrrsha Housing Finance Ltd.
5. Parag Shilpa Investments Ltd.
6. Pharmaids Pharmaceuticals Ltd.
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| MRPL looking for International Equity partner |
| In a correspondence to the BSE, Mangalore Refinery and Petrochemicals Ltd has informed that it is looking for third partner from amongst International Oil Majors for a possible equity investment in MRPL. The company is discussing for the same with more than one such company. The company has clarified that the price reported in a newspaper to be quoted for the shares is not correct, as that stage has not been reached so far. The company has engaged M/s Jardine Fleming to assist them for the purpose. |
| Glaxo India sells its Multivite brand |
| Glaxo India Ltd has sold its pharmaceuticals brand MULTIVITE to Universal Medicare Ltd. on 24.03.2000. |
| Strike at Cheviot Company's Mill at Pragnas |
| Cheviot Co. Ltd. has informed the BSE that, due to indefinite strike called by the workers in the jute industry from 22.03.2000 the operation at the company's mill at Prganas (South) W.B. stand suspended till withdrawal of the strike.
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| Comfort Intech Board approves commencement of software activities |
The Board of Directors of Comfort Intech Ltd (Formerly known as Comfort Fininvest Ltd) at its meeting held on March 27, 2000 took the following decisions.
1. No dividend has been declared.
2. The commencement of activities of software training centers has been approved.
3. Directors have been authorized to negotiate for takeover/merger of existing software training centers. |
RISC
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