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April 17, 2000
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| Onward Technologies MQ 2000 Net Profit up by 62.45 % at Rs 16.52 million
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| Onward Technologies Ltd has announced a net profit of Rs 16.52 million for the quarter ended March 31, 2000 as against Rs 10.17 million in MQ 99. The total income is up by 21.76 % at Rs 141.53 million as compared to Rs 116.24 million in MQ 99. The company has attributed the improved performance for the quarter to its thrust towards the software solutions and services business.
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| Ballarpur Industries MQ 2000 Net Profit up by 189.73 % at Rs 152.40 million
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| Ballarpur Industries Ltd has announced a net profit of Rs 152.40 million for the quarter ended March 31, 2000 as against Rs 52.60 million in MQ 99. The sales are up by 5.24 % at Rs 3169.40 million. Other income is Rs 25.30 million (MQ99 Rs 26.40 million). The profits for the year ended March 31, 2000 are Rs385.20 million, as compared to Rs 1609.20 million in the previous financial year of nine months ended June 1999. The annual sales are Rs 9186.20 million. On the equity capital of Rs 596.70 million the company has reported an EPS of Rs 6.46.
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| Avtar Finance to merge Computer Inns with itself
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| The Board of Directors of Avtar finance & Management Consultancy Ltd will meet on April 19, 2000 to consider the amalgamation/merger of M/s Computer Inns Ltd. of Dhanbad, Bihar with the company.
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| EZ-Comm begins talks to transfer its portals
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| At its meeting held on April 14, 2000 the Board of Directors of EZ-Comm Trade Technologies Ltd has reviewed the various options regarding the spin off of its two portals viz.Polysteronline.com and Spunonline.com. The company has informed that it has initiated dialogue with certain parties to transfer the two portals. The possibilities that are being considered are to transfer to another entity as a joint venture and to develop these portals. The company has authorised Mr. Sanjiv Khandelwal, Managing Director, to discus, negotiate, finalise and do other acts required in this behalf.
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| VisualSoft Technologies to consider preferential allotment, acquisitions, strategic alliances
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As informed earlier the Board of Directors of VisualSoft Technologies Ltd will meet on April 20, 2000 to consider issue of Bonus shares. The company has now informed that, the Board will also consider the following matters at the said meeting:
Increase the limits of FIIs, NRIs, OCBs etc,
Increase the Authorised share capital,
Issue of shares to employees under the Employee Stock Option Scheme,
Strategic alliances,
Issue of shares by way of preferential allotment,
Increase in investments under Section 372A of the companies Act, 1956.
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| Vans Information to consider preferential allotment at Rs 100/- each
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| The Board of Directors of Vans Information and Investor Services Ltd will meet on April 25, 2000 to consider besides other matter, allotment of 55,000 equity shares at a price of Rs 100/- per share. The Board will also consider allotment of 1,050,000 Warrants on private placement basis. The Warrant holders will be entitled to exercise the option to acquire for every Warrant one fully paid equity share of Rs 10/- each at a premium of Rs 33/- per share. The company has already taken the permission of its shareholders to make the aforesaid issue at its EGM held on January 27, 2000.
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| Suven Pharma MQ 2000 Net Profit up by 271.73 % at Rs 13.74 million |
| Suven Pharmaceuticals Ltd has announced a net profit of Rs 13.74 million for the quarter ended March 31, 2000 as against Rs 3.70 million in MQ 99. The sales are up by 28.20 % at Rs 9912 million. Other income is Rs 3.55 million (MQ99 Rs .006 million). The profits for the year ended March 31, 2000 are Rs 41.55 million, as compared to Rs 25.02 million in the previous financial year. The annual sales are 14.68 % up at Rs 351.74 million as against Rs 306.72 million in the financial year ending March 1999. The Board has recommended a dividend of 30 %. |
| Bharat Electronics MQ 2000 Net Profit up by 100.43 % at Rs 654.20 million |
| Bharat Electronics Ltd has announced a net profit of Rs 654.20 million for the quarter ended March 31, 2000 as against Rs 326.40 million in MQ 99. The sales are up by 17.10 % at Rs 8985.40 million. Other income is Rs 153.30 million (MQ99 Rs 52.90 million). The profits for the year ended March 31, 2000 are Rs 1015.20 million, as compared to Rs 536.30 million in the previous financial year. The annual sales are 24.79 % up at Rs 14.964 billion million as against Rs 11.992 million in the financial year ending March 1999. The company's order book position was Rs 2.711 billion as on April 1, 2000 as against Rs 1.926 billion as on April 1, 1999. |
| Aptech Ltd MQ 2000 Net Profit at Rs 20.11 million, Global revenues from software solutions rise by 177.84% |
| Aptech Ltd Ltd has announced a net profit of Rs 20.11 million for the quarter ended March 31, 2000 as against a loss of Rs 64.18 million in MQ 99. The sales are up by 45 % at Rs 726.30 million. Other income is Rs 0.90 million (MQ 99 Rs 6.39 million). Out of the total sales, Rs 500.51 million is from Training and Education division representing a 28.70 growth, while the sales from software solutions at Rs 226.25 million showed a 101.72 % growth over sales of Rs 112.16 million in MQ99. The Global revenues from software solutions are 177.84 % up at Rs 343.36 million as against Rs 123.58 million in MQ 99. Global revenues from training division have shown a 27.58% growth at Rs 518.08 million as compared to Rs 406.10 million in MQ 99.
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| Sifa Tading to issue equity shares at a premium of Rs 65/- per share |
| Sifa Trading Company Ltd has decided to issue 3,150,000 equity shares of Rs 10/- each at a premium of Rs 65/- per share. The company will raise a total of Rs 236,250,000/- from the said issue. The shares shall be issued to Individuals, Bodies Corporate, NRIs OCBs, FIIs, MFs, whether shareholders of the company or not, on preferential basis. The company has decided to change the name of the company to Galaxy Entertainment Corporation Ltd. The company has passed the necessary resolutions enabling the above decisions at the EGM held today (April 17, 2000). |
| Explosion at Asian Paints plant at Cuddalore, Production loss of 75-80 tonnes |
Asian Paints (India) Ltd has informed the BSE that a dust explosion occurred in the technical Pentaerythritol section of the company's plant at Cuddalore on April 15, 2000. The safety rupture discs limited the damage to the plant and the resultant fire was completely extinguished within an hour. Company informed that the Mono and di-penta sections are working normally.
Four persons suffered minor injuries requiring some first aid. The disruption in this section is expected to cause a loss of production to the tune of around 75 to 80 tonnes, valued at Rs 4/- million. The company expects this section of the plant to be restored by April 30, 2000. The factory is insured.
According to the company the impact of this incident on the company's performance is insignificant.
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| DSQ Biotech clarifies on newspaper reports |
DSQ Biotech Ltd in a clarification issued to the BSE has informed that Goldman Sachs has agreed for an investment in 1 million equity shares of the company at a premium of Rs 640/- per share on private placement basis. The total value of the investment is Rs 650/- million, 4.25% stake only and not Rs 3/- billion, 3.5% as mentioned in the news item. The acquisition price is as per SEBI norms of preferential allotment.
The company has issued 8,030,000 equity shares on private placement basis to the following investors at Rs 275/- per share.
M/s Deutsche International Custodial Sevices Ltd - 2,200,000 shares
M/s Sociate Generale - 1,100,000 shares
Greenfeild Investments Ltd - 1,730,000 shares
M/s A.J. Finance Ltd - 3,000,000 shares
In the above investment, domestic financial investors were not involved.
With the second round of capital expansion, the company's total equity base has increased to Rs 235.10 million from Rs 144.80 million and not Rs 2.40 billion as mentioned in the news item.
While the Board has already approved and allotted 8,030,000 equity shares on March 13, 2000, the allotment of 1,000,000 equity shares will be considered at the ensuing meeting of the Allotment Committee to be held on April 17, 2000.
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| Eicher announces 25% interim dividend |
| Eicher Ltd has announced an interim dividend on the equity shares at the rate of 25%. The Board has fixed May 16, 2000 to May 20 as the record date and closure of Register of Members of the company (both days inclusive). The above decision was taken at the Board meeting of the company held on April 15, 2000. |
| Panacea Biotech MQ 2000 Net Profit up by185.22 % at Rs 83 million |
| Panacea Biotech Ltd has reported a net profit of Rs 83 million for the quarter ended March 31, 2000 as against Rs 29.10 million in MQ 99. The sales are up by 67.79 % at Rs 516.30 million. Other income is a negative Rs - 0.50million (MQ99 Rs 2.30 million). The profits for the year ended March 31, 2000 are Rs 259.30 million, as compared to Rs 106.60 million in the previous financial year, an increase of 143.25%. The annual sales are 71.08 % up at Rs 1942.40 million as against Rs 1135.40 million in the financial year ending March 1999. On the equity capital of Rs 57.10 million the company has reported an EPS of Rs 45.41 for the year end March 31, 2000. During the year the company has acquired substantial interest in the equity share capital of M/s Maxwell Impex (India) Pvt. Ltd. During the quarter the company has commenced the commercial production of liquids and capsules at its plant at Lalru, Punjab. |
| LCC Infotech MQ 2000 Net Profit at Rs 46.87 million |
| LCC Infotech Ltd has announced a net profit of Rs 46.87 million for the quarter ended March 31, 2000 as against Rs 0.33 million in MQ 99. The sales are up at Rs 314.39 million against Rs 17.22 for the same period in the last financial year. Other income is Rs 1.14 million (MQ99 Rs Nil). The profits for the year ended March 31, 2000 are Rs 126.11 million, as compared to Rs 0.33 million in the previous financial year. The annual sales are Rs 578.48 million as against Rs 22.32 million in the financial year ending March 31, 1999. On the equity capital of Rs 384.75 million the company has reported an annualized earnings of Rs 6.10 per share. The company has been accorded STP status for its new unit at Calcutta. |
| IEC Software MQ 2000 Net Profit at Rs 9.87 million |
| IEC Software Ltd has announced a net profit of Rs 9.87 million for the quarter ended March 31, 2000 as against Rs 0.22 million in MQ 99. The sales are up by 76.33 % at Rs 39.59 million. The total sale comprises of Rs 19.925 million from Franchise Royalty while Rs 19.66 is from Software Development business. Other income is Rs 1.24 million (MQ99 Rs Nil). The profits for the year ended March 31, 2000 are Rs 26.64 million, as compared to Rs 7.84 million in the previous financial year, an increase of 239.75 %. The annual sales are 79.86 percent up at Rs 124.52 million as against Rs 69.23 million in the financial year ending March 31, 1999. On the equity capital of Rs 70 million the company has reported an annualized earnings of Rs 4.60 per share. |
| BLB Ltd MQ 2000 Net Profit up by 224.47% at Rs 76.90 million |
| BLB Ltd has reported a net profit of Rs 76.90 million for the quarter ended March 31, 2000 as against Rs 23.70 million in MQ 99. The sales are up by 55.04% at Rs 1323.40 million. Other income is Rs Nil (MQ99 Rs 0.20 million). The profits for the year ended March 31, 2000 are Rs 173.10 million, as compared to Rs 36/- million in the previous financial year. The annual sales are 68.32 % up at Rs 4754 million as against Rs 2824/- million in the financial year ending March 31, 1999. On the equity capital of Rs 50.40 million the company has reported an annualized EPS of Rs 60.60. The company is holding investment in shares having Book value of Rs 22.84 million as against their market value of Rs 307.95 million as on March 31, 2000. The Board of Directors has recommended an interim dividend of Rs 1.50 per share on equity shares. |
| Automotive Axles MQ 2000 Net Profit up by 30.21% at Rs 23.79 million |
| Automotive Axles Ltd has announced a net profit of Rs 23.79 million for the quarter ended March 31, 2000 as against Rs 18.27 million in MQ 99. The sales and income from operations are up by 34.31% at Rs 392.58 million. Other income is Rs 0.05 million (MQ99 Nil). The gross profit at Rs 52.28 million is 61.41% higher than the gross profit of Rs 32.39 as achieved in MQ99. The total income is higher by 34.32% at Rs 392.63 million. |
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