|
March 10, 2000
Books
Columnists
Indian Tax
Insurance
Interview
Mutual Funds
NRI Tax
Personal Finance
Personal Banking
Real Estate
Stocks
|
| Shantivijay Jewels announces Rs 2.50/- Interim Dividend and Special Millennium Dividend each |
| The Board of Directors of Shantivijay Jewels Ltd has recommended an interim dividend of Rs 2.50/- and a special millennium dividend of Rs 2.50/- per share for the financial year 1999-2000. |
| National Flask to issue 400,000 shares on preferential basis |
| The Board of Directors of National Flask Industries Ltd will meet on March 14, 2000 to consider the issue of 400,000 equity shares of Rs 10/- each on a preferential basis. |
Precision Wires - Atlas Wires Amalgamation under consideration,
Swap Ratio 1.85 : 1 |
| The Board of Directors of Precision Wires India Ltd (PWIL)will meet on march 20, 2000 to consider the proposal of Amalgamation of Atlas Wires Ltd (AWL) with Precision Wires India Ltd. The Board will also consider the ratio recommended by Arthur Anderson India Pvt. Ltd. The share exchange ratio recommended is 1.85 equity shares of PWIL for one equity share of AWL. Proposal of technical and financial collaboration with a foreign partner is also on the agenda for the Board meeting. |
| First Leasing to consider Annual Accounts, AGM on May 4 |
| The Board of Directors of First Leasing Company of India Ltd will meet on March 27, 2000 to consider the accounts for the year ending on November 30,1999. The AGM of the company for the year ended November 30, 1999 will be held on May 4, 2000. The register of members for the purpose of dividend will be closed from April 25, 2000 to May 4, 2000. |
| Phoenix Lamps to buyback 53.4 lakh shares in a price band of Rs 19.50 to 22.30 per share |
| The Board of Directors of Phoenix Lamps Ltd (PLL) will meet on March 15, 2000 to consider the proposal of re-purchase of equity shares from Picup as per the Scheme of Arrangement approved by the Allahabad High Court. According to the scheme PLL will purchase 11 lakh shares by March at Rs 19.50/- per share, 21 lakh shares by March 2001 at Rs 20.90/- per share and 21.40 lakh shares by March 2002 at Rs 22.30 /- per share. At the meeting the Board will also allot 766,000 Redeemable Preference shares of Rs 76.60 million to foreign collaborators, Phoenix Electric Co. Ltd, Japan, as per the scheme of arrangement. The allotment will be made in lieu of the 7,660,000 equity shares held by the Japanese Co. The Preference shares shall not carry dividend right and the same will be redeemed at par after March 31, 2007. Due to above conversion, Equity share capital shall stand reduced by 76.60 million. |
| Jay Shree Tea Interim dividend at Rs 4/- per share, no further dividend for the year |
| The Board of Directors of Jay Shree Tea & Industries Ltd has recommended an interim dividend @ 40% i.e. Rs 4/- per share on the paid up share capital of Rs 123 million. The interim dividend shall be payable to those shareholders whose names appear on the Register of the members as on record date - April 17, 2000. The management has said that keeping in view the seasonal nature of the industry of Tea industry and based on present profitability and dividend as above, there seems to be no possibilities for payment of further dividend in the current year. |
| UTI Mastergain 92 declares 15% income distribution |
| The Board of Trustees have declared Income Distribution @15% under Capital Growth Unit Scheme 1992 (Mastergain92). The unit holders whose names appear in the books as on March 31, 2000 shall be eligible to receive the income. |
| SLAC, Mauritius acquires 4,27,034 shares of HDFC from open market |
| Housing Development Finance Corporation Ltd has informed BSE that the company has received an intimation from SLAC (Mauritius Holdings) Ltd (SLAC) an affiliate of Standard Life Assurance Company, U.K, that they have, pursuant to the permission of FIPB and RBI , acauired an aggregate of 427,034 equity shares of Rs 10 each from the secondary market. The said acquisition represents 0.36% of the paid up capital of the corporation. Prior to the said acquisition, SLAC was holding 9,947,160 equity shares of the corporation representing 8.365% of the total capital. |
| AgrEvo Name changed to Aventis Cropscience |
| AgrEvo India Ltd has changed its name to Aventis Cropscience India Ltd. The new name comes into effect from March 9, 2000. The company has already received the certificate of incorporation consequent to the change of name, issued by the Registrar of companies. |
| TV18 denies news regarding stake offer to Sony Entertainment |
| Television Eighteen India Ltd (TV18) has informed the BSE that the news appearing in a daily newspaper regarding the company, offering stake to Sony Entertainment Television (SET), is incorrect. The management of TV18 is not examining any possibility of offering equity stake to SET. TV18 is entering into a sales and distribution alliance with SET to market advertising time on CNBC India business news channel and to collect cable subscription revenue on all India basis. The company has also taken the matter with the newspaper for appropriate action. |
| Patel Engineering to consider another Interim Dividend |
| A meeting of the Board of Directors of Patel Engineering Ltd will be convened on March 17, 2000 to consider among other things the declaration of another interim dividend for the year ending on March 31, 2000. |
| Cheviot Company to consider Interim Dividend |
| The Board meeting of Cheviot Company Ltd is proposed to be held on March 15, 2000 in which the matter of interim dividend in respect of financial year ending March 31, 2000 will be considered. |
| Peerless Shipping EGM to appoint Arthur Anderson as Auditors at the EGM |
| An Extra Ordinary General Meeting of Peerless Shipping & Oilfield Services Ltd is convened on April 28, 2000 to change the Auditors of the company . M/s Lodha & Company, Calcutta have resigned and Arthur Anderson & Associates, Mumbai are to fill in the casual vacancy caused by such resignation. At the EGM the company also proposes to amend the Articles in relation to dematerialisation of its shares. |
| Sadhna Nitro Chem to consider Interim Dividend |
| The Board of Directors of Sadhna Nitro Chem Ltd will meet on March 14, 2000 to consider payment of interim dividend in respect of financial year ending March 31, 2000. |
| Bhagyanagar Wood establishes its software arm "Bhagya Soft" |
| Secunderabad based Bhagyanagar Wood Plast Ltd has established its software division with 40 workstations and started its operations under the name and style of Bhagya Soft. The present operations of Bhagya Soft include offshore software development services for E-business and E-Commerce applications. The division also provides end to end solutions in contemporary technologies using Oracle 8i, SQL Server, Java, XML, ASP/JSP, MTS/EJB, HTML etc. The division is also into development of portals for vertical applications in B to B. The company is planning a formal inauguaration of Bhagya Soft during the last week of March 2000. |
| Knoll Pharma FY 99 Net Profit up by 153.087 %, Extraordinary income Rs 297.90 million, Div at 95% Special Millennium Div at Rs 31.00/-. |
| Knoll Pharmaceuticals Ltd has announced a net profit of Rs 685.20 million for the year ended December 31, 1999 as compared to Rs 270.50 million for FY 98. The company has registered a 10.92 % increase in sales, at Rs 2910.30 million, as compared to Rs 2623.70 million for FY 98. Other Income is Rs 109.70 million (FY 98 Rs 110.40 million). The company has earned an extraordinary income of Rs297.90 million from the sale of a portion of the property consisting of the company's Sion Undertaking. The company has declared a dividend of Rs 9.50/- per share and a special dividend of Rs 31.00 per share for the year ending December 31, 1999. |
| Sol Pharma December Quarter 99 results on March 25, 2000 |
| The Board meeting of Sol Pharmaceuticals Ltd is scheduled on March 25, 2000 to consider and approve among other business, the unaudited financial results of the company for the quarter ended December 31, 2000. |
| Britannia Industries to consider Interim Dividend |
| The Board of Directors of Britannia Industries Ltd will meet on March 13, 2000 to consider payment of interim dividend on the equity shares of the company. |
| TVS Suzuki Ltd declares Interim Dividend at 80% |
| The Board of TVS Suzuki Ltd at its meeting held today (10/03/2000), has declared an interim dividend of 80% (Rs 8/- per share) on the paid up capital of Rs 231 million. The record date for the purpose of payment of interim dividend has been fixed as April 12, 2000. |
| Lock Out at Bata India's Peenya factory |
| Bata India Ltd has informed BSE that the company has declared a lockout at its Peenya Factory located at Bangalore with effect from March 08, 2000. The cost of maintaining this idle plant will be upto Rs 3 million per month. However the loss of sales and production will be minimal as the footwear manufactured in this factory will be shifted to the company's other factories and associate manufacturers. |
| VSNL Declares Interim Dividend at Rs 6/- per share |
| At its 105th Board meeting held today (10/03/2000), Videsh Sanchar Nigam Ltd has approved payment of interim dividend at Rs 6/- per share to the shareholders. This works out to a dividend of Rs 570 million on a paid up capital of Rs 950 million. |
| Rhone-Poulenc declares 285% Interim Dividend |
| The Board of Directors of Rhone-Poulenc (India) Ltd has declared an interim Dividend of 285% including a one time Special dividend of 110%. This Special one time dividend has been declared as a special case from the profit accruing out of the divestment of the company's equity in Rhone-Poulenc AgroChemicals (India) Ltd. |
| Sundram Fasteners Interim Dividend at 110% |
| The Board of Directors of Sundram Fasteners Ltd, at its meeting held today, decided to pay an interim dividend of 110% (Rs 11/- per share). The dividend will absorb a sum of Rs 112.372 million to be paid out of the profits for the financial year ending March 31, 2000. The payout ratio is in line with the previous financial year. The Board has fixed April 18, 2000 as the record date for determination of eligible shareholders entitled for the interim dividend. |
| Radico Khaitan to diversify in to Information Technology |
| The Board of Directors of Radico Khaitan finance Ltd is meeting on March 13, 2000 to consider calling an EGM and altering the Memorandum of Association of the Company so as to diversify into the business of Information Technology. |
| Aptech Limited to launch ASP through BconnectB.com |
| Aptech Limited is launching a new business as an Application Service Provider (ASP) through a new venture named BconnectB.com, which would be a subsidiary of the company. |
| Selan Exploration to buyback shares at a maximum of Rs 20/- per share. |
| Selan Exploration Technology Ltd has informed its intention to buyback fully paid equity shares of the co. of Rs.10/- each from the open market through The Stock Exchange, Mumbai upto a maximum price of Rs.20/- per equity share, payable in cash, for a total consideration not exceeding Rs.20 million(offer size). |
| BSE imposes Special Margin on Three scrips |
BSE has imposed special margin on the following scrips with effect from March 10, 2000
1. Inna Reddy Computer Software Association Ltd (Rs20/-)
2. Precision Electronics Ltd. (Rs 4/-)
3. Servotech Engineering Ltd. (Rs 6/-)
|
| Shyam Telecom confirms Qualcom and Cincom investment in company |
| Shyam Telecom Ltd has confirmed that Qualcomm and US based Cincom Systems are investing in the company US$ 10 million each as strategic/financial investors. The investment of Qualcomm would be made through subscription to the Zero Coupon Bonds convertible into equity of the company. The company has also confirmed that the company had placed 5 million equity shares on preferential basis at Rs 160/- each against which 4.5 million shares were allotted on February 15, 2000 comprising 15% of the post issue capital. This placement was made to FIIs and Mutual Funds. |
| Infosys, Dr. Reddy, Zee Telefilms bag Best Corporates Awards |
The Stock Exchange, Mumbai has announced awards for best corporates in the three categories as follows:
(a) Best Corporate Governance - Infosys Technologies Ltd
(b) Most Investor Friendly - Dr. Reddy's Laboratories Ltd
(c) Maximisation of Shareholder's Wealth - Zee Telefilms Ltd
The selection was done by a select Panel of eminent persons. Mr. P. S. Subramanyam, Chairman UTI, chaired the Panel.
|
RISC
Tell us what you think of this feature
|
