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Vikas WSP Board to consider Stock Split on July 17

The Board of Directors of Vikas WSP Ltd will meet on July 17, 2000 for convening Extra ordinary General Meeting of the company on August 9, 2000 for subdivision/Stock Split of the company's equity shares.

Wartsila NSD Q2 net profit down by 23%, order book at Rs 1979 million

Wartsila NSD India Ltd has reported a 23.4% fall in the net profits for the quarter ended June 30, 2000, The net profits for the quarter were Rs 36 million as against Rs 47 million in JQ 99. The sales for the quarter were also lower at Rs 694 million compared to Rs 917 million in JQ 99. Other income fell 30% from Rs 10 million in JQ 99 to Rs 7 million in JQ 2000. The company's order book position as on June 30, 2000 was Rs 1979 million as against Rs 1014 million as on June 30, 1999.

Sandvik Asia Q2 net profit at Rs 27.58 million, sales up by 27.35%

Sandvik Asia Ltd has announced a 27.35% increase in sales for the second quarter ended June 30, 2000. The sales for the quarter were Rs 500.99 million as against Rs 393.4 million in JQ 99. The net profit for the quarter was Rs 27.58 million compared to Rs 9.6 million in the same period last year. The company earned other income of Rs 21.43 million in JQ 2000 (JQ 99 Rs 5.5 million). Depreciation increased 24.44% from Rs 20.3 million to Rs 25.26 million in JQ 2000. The PBT was significantly higher at Rs 44.84 million as against Rs 6.9 million in JQ 99. However the profits for the quarter were higher by Rs 89.36 million during the quarter due to a change in the accounting policy in respect of inventory valuation.

Atlas Copco Q2 PBT up by 34.53% to Rs 48.7 million

Atlas Copco (India) Ltd has reported a profit before tax of Rs 48.7 million for the quarter ended June 30, 2000 as against Rs 36.2 million reported in the same quarter of the previous year. The sales for the quarter were Rs 343.4 million as against Rs 285.6 million in JQ 99, up by 20.24%. The company earned an extra-ordinary profit of Rs 46.8 million on sale of its flat at Mumbai. After considering this extra-ordinary item and tax provision of Rs 40.5 million (JQ 99 Rs 14 million) the net profit for the quarter was Rs 55 million as against Rs 22.2 million for the same period in the previous fiscal. The Board of Directors of the company has approved at their meeting held today (July 12, 2000) a share exchange ratio of three equity shares of Rs.10/- each of Atlas Copco (India) Ltd for every five equity shares held by shareholders of Chicago Pneumatic India Ltd for the proposed merger of the two companies. The above ratio is based on the report submitted in this regard by the valuers, M/s. S.B.Billimoria & Co., and M/s.N.M.Raiji & Co.

Chicago Pneumatic net profit increases 67.86%, sales up by 2.33%

Chicago Pneumatic India Ltd has announced a 67.86% rise in the net profits for the quarter ended June 30, 2000. The company recorded a net profit of Rs 18.8 million as against Rs 11.2 million in JQ 99. The sales for the quarter were marginally higher by 2.33% at Rs 246.2 million as against Rs 240.6 million in JQ 99. The provision for tax however increased by Rs 2.4 million to Rs 8.8 million in JQ 2000 from Rs 6.4 million in JQ 99. The Board of Directors of the company has approved at their meeting held today (July 12, 2000) a share exchange ratio of three equity shares of Rs.10/- each of Atlas Copco (India) Ltd for every five equity shares held by shareholders of Chicago Pneumatic India Ltd for the proposed merger of the two companies. The above ratio is based on the report submitted in this regard by the valuers, M/s. S.B.Billimoria & Co., and M/s.N.M.Raiji & Co.

HDFC Bank Board approves to take 29.5% stake in new company for ASP business

The Board of Directors of HDFC Bank Ltd has approved to make an investment ina new company to be incorporated with the main object of carrying on the business of Application Service Provider (ASP). The Bank would subscribe for 29.5% of the equity share capital of the new company, subject to necessary approvals.

Essel Packaging Board to consider Bonus issue

The Board of Directors of Essel Packaging Ltd will meet on July 18, 2000 to consider the unaudited financial results for the quarter ended June 30, 2000. At the same meeting the Board will also deliberate and consider a proposal to issue Bonus shares to the shareholders of the company.

Mastek Ltd Q4 net profit up by 123%, revenue up by 44%

Mastek Ltd has announced a net profit of Rs 101.4 million for the quarter ended June 30, 2000 as against a anet profit of Rs 45.5 million earned in the same quarter of the previous year, a growth of 122.86%. The revenue for the quarter was Rs 260.7 million, 44.11% higher compared to Rs 180.9 million recorded in JQ 99. The staff costs have also correspondingly increased from Rs 57.7 million in JQ 99 to Rs 70.5 million, up by 22.18%. For the year ended June 30, 2000 the revenue grew 64.47% from Rs 580.4 million in FY 99 to Rs 954.6 million in FY 2000. The company's financial year ends on June 30th every year. The staff costs for the year were Rs 285.7 million as against Rs 173.4 million in FY 99. The net profit for the year 2000 is 242% higher at Rs 284.9 million compared to Rs 93.3 million in FY 99.

HDFC Bank net profit rises 83%, non fund based income up by 132%

HDFC Bank Ltd has reported a net profit of Rs 463.5 million for the quarter ended June 30, 2000. The Interest income for the quarter was Rs 2785.5 million as against Rs 1200.3 million in JQ 99, representing a growth of 132.07%. The other operating income represented by non-fund base banking activities was Rs 441.9 million as against Rs 184.3 million in JQ 99. The non-fund based banking activities include commissions, fees, foreign exchange and earnings from debt instruments. The figures as stated may not be strictly comparable with those of the last year since this quarter's figures are after the merger of Times Bank Ltd. The interest expenditure for the quarter was 118.42% higher at Rs 1571.3 million as against Rs 719.4 million in JQ 99. The depreciation charge more than doubled from Rs 52.5 million in JQ 99 to Rs 121.9 million in JQ 2000.

Abee Info-Consumables net sales rise 92.56% to Rs 12.52 million

Abee Info-Consumables Ltd has reported a net profit of Rs 4.03 million for the quarter ended June 30, 2000 as against a net profit of Rs 2.07 million recorded in the corresponding quarter of the previous year. The sales for the quarter were 92.56% higher at Rs 12.52 million compared to Rs 6.5 million in JQ 99. Other income for the quarter was Rs 263 thousand against Rs 322 thousand in JQ 99. Depreciation charge for the JQ 2000 was Rs 261 thousand (JQ 99 Rs 171 thousand). On the equity base of Rs 45.11 million the annualised earnings works out to Rs 3.56 per share.

Shyam Telecom denies talks of picking up a stake in Amex Info

With reference to the news item in "The Economic Times" dated July 11, 2000 - 'Amex Info in talks with Shyam Tele, HFCL to sell stake' Shyam Telecom Ltd has informed the BSE 1. That it has been having discussions with several software companies as a part of their overall business strategy. Amex Info being one of them. However no, discussions have been held in the last few weeks and currently there is no deal being contemplated. 2. No official of Shyam Telecom Ltd was contacted by The Economic Times and we deny any of the statements attributed to us.

Indus Ind Bank denies merger talks with Centurion Bank

With reference to the news item in Financial Express dated July 11, 2000 - 'Merger talks with Centurion Bank' Indus Ind Bank Ltd has informed the BSE that as far as the management of Indus Ind Bank is concerned it is not aware of any such talks.

Goldiam International buys-back equity shares at Rs 32.50 per share

Goldiam International Ltd has informed the Bombay Stock Exchange that it has bought back 1,900 Equity Shares at a price of Rs.32.50 per share from the existing equity shareholders of the company. The certificates of these shares have been cancelled and destroyed by the company.

Chennai Petroleum Director Finance retires

Chennai Petroleum Corporation Ltd., has informed BSE that Mr. C.S.Santhanam, Director (Finance), ceased to be a Director on the Board of Chennai Petroleum Corporation Ltd. effective 01/07/2000, as he retired from service on attaining the age of superannuation on 30/06/2000.

BSE imposes special margin on 2 scrips

BSE has imposed Special Margin in the under mentioned scrip as mentioned alongside with effect from July 12, 2000. Sr No Scrip Code Scrip Name Scrip Group Special Margin Per Share (%) 1. 31093 OPTEL TELECOMMUNICATIONS LTD B2 25% 2. 26071 SELLAIDS PUBLICATIONS (I) LTD B2 25%

Orient Information Q1 net profit at Rs 47.85 million

Orient Information Technology Ltd has posted a net profit of Rs 47.85 million for the quarter ended June 30, 2000 as compared to Rs 14.50 million in JQ 99. The net sales for the quarter ended June 30, 2000 are up by 130.80% at Rs 174.36 million as compared to Rs 75.54 million in JQ 99. Other income has increased from Rs 1.81 million in JQ 99 to Rs 13.02 million in the quarter ended June 30, 2000.

Compudyne Winfosystems Q1 net profit at Rs 10.80 million

Compudyne Winfosystems has posted a net profit of Rs 10.80 million for the quarter ended June 30, 2000 as compared to Rs 0.37 million in JQ 99.The net sales have increased from Rs 3.50 million in JQ 99 to Rs 37.30 million in JQ 2000. Other income has increased from Rs 0.07 million in JQ 99 to Rs 2.86 million in JQ 2000.

Sonata Software Q1 net profit up by 84.85%, announces stock split in the ratio of 10:1

Sonata Software Ltd. has posted a net profit of Rs 79.17 million for the quarter ended June 30, 2000 as compared to Rs 42.83 million in JQ 99. The sales from international operations have increased from Rs 165.43 million in JQ 99 to Rs 241.70 million in JQ 2000 showing a growth of 46%. The income from domestic operations has fallen from Rs 187.72 million in JQ 99 to Rs 156.19 million in JQ 2000. Other income for the quarter ended June 30, 2000 is at Rs 9.51 million as compared to Rs 7.39 million in JQ 99. The Board of Directors have decided to spin off the Indian Operations business comprising of Product Reselling, IT Consulting and Business Solutions into a wholly-owned subsidiary subject to the approval of shareholders. The Board of Directors have, subject to the approval of the shareholders, decided to split the existing fully paid-up one equity share of par value of Rs 10/- into 10 fully paid-up shares of par value of Rs 1/- per share.

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