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May 9, 2000
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| Wipro ties up with Vignette to offer e-business solutions
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In line with its endeavour to add value to long standing relationships with its customers, Wipro Technologies, the world's first SEI CMM level 5 Software services company, has entered into a strategic alliance with Vignette of USA, the leading provider of software applications for e-Business relationship management.
Using Vignette's technologies, Wipro Technologies will establish a Competency Centre in Bangalore to showcase best practices in e-Business Solutions. The two companies will offer co-developed solutions piloting future practices in the Net Economy.
This partnership will enable Wipro to gain expertise and rapidly deliver Vignette's enterprise solutions to support customers in their e-business transformation. For Vignette, the tie-up would further the company's vision of Relationship Commerce to e-businesses worldwide.
"We see Vignette as a leading e-Business relationship application and platform provider, and are excited about the opportunities that our strategic alliance will bring," informed V Ramakumar, Chief Executive, E-enabling Solutions, Wipro Technologies, in a press release issued by Wipro Corporation.
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| Kale Consultants declares 20% interim dividend
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| At a meeting held on May 9, 2000, the Board of Directors of Kale Consultants Ltd has decided to pay a pro-rata interim dividend of Rs. 2/- per share on the equity shares of Rs. 10/- each. The Board will meet on May 18, 2000 to consider the recommendation of final dividend.
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| Elnet Technologies FY 2000 net profit down by 59.61%
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| Elnet Technologies Ltd has reported a net profit of Rs 3.70 million for the year ended March 31, 2000, representing an 59.61% decrease as compared to Rs 9.15 million earned in FY 99. The sales and other income for the year are Rs 53.03 million and Rs 2.86 million respectively as against Rs 56.91 million and Rs 0.63 million in FY 99. The company has incurred a loss of Rs 1.97 million for the quarter ended March 31, 2000 as against a profit of Rs 1.46 million earned in MQ 99. However the company has informed that the figures for the current and the previous year/quarter are not comparable in respect of certain items since the outcome of the concessions by the financial institutions/IT refund/Land revenue has been reflected and incorporated only in the current quarter/ half year. |
| Bharti Healthcare Board approves Rights Issue in the ratio of 3:1
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| The Board of Directors of Bharti Healthcare Ltd at its meeting held on May 9, 2000, approved the Rights Issue in the ratio of 3:1(i.e. Offer of 3 equity shares for 1 equity share held) to the exiting equity shareholders of the company. The issue will be at a price of Rs. 15/- per equity share (i.e. equity shares of face value of Rs. 10/- each at a premium of Rs. 5/- per share).
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| Lakshmi Electrical MQ 2000 net profit at Rs. 4.37 million
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| Lakshmi Electrical Control Systems Ltd has reported a net profit of Rs. 4.37 million for the quarter ended March 31, 2000 as against a loss of Rs. 0.61 million in MQ 99. The sales are up by 8.02 % at Rs 64.16 million. Other income is Rs. 1.56 million (MQ 99 Rs. 1.80 million). The profits for the year ended March 31, 2000 are Rs. 1.78 million, as compared to a loss of Rs. 12.41million in the previous financial year. The annual sales are higher by 1.66% at Rs. 191.30 million as against Rs. 188.17 million in the financial year ending March 1999.
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| Indo Rama Synthetics posts net profit of Rs.51.50 million in MQ 2000
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| Indo Rama Synthetics (India) Ltd has announced a net profit of Rs. 51.50 million for the quarter ended March 31, 2000 as against a loss of Rs. 439.70 million in MQ 99. The sales are up by 25.26% at Rs 4693.40 million. Other income is Rs. 62.20 million (MQ 99 Rs. 37.20 million). For the year ended March 31, 2000 the company recorded a loss of Rs. 77.50 million, as compared to a loss of Rs. 1595.50 million in the previous financial year. The annual sales are 27.36% higher at Rs. 17514.20 million as against Rs. 13751.90 million in the financial year ending March 1999.
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| Blue Dart Express FY 2000 net profit up by 105%, turnover up by 22%
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| Blue Dart Express Ltd has recorded a net profit of Rs 123.10 million on a turnover of Rs 2053.10 million for the year ended March 31, 2000 as against a profit of Rs 60 million in FY 99. The profits represent a 105.17% increase while the sales are 21.72% higher as compared to the corresponding figures for the previous financial year. Other income for the year is Rs 1.50 million (MQ 99 Rs 73.50 million). Blue Dart Aviation Ltd, a wholly owned subsidiary of the company has earned a profit for the year. The Board has recommended a dividend of 20% for the year as compared to 15% for the previous year. The Lloyd's Register Quality Assurance has re-certified the company's Quality Management Systems according to ISO 9001 standards for a further period of 3 years.
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| Key Corp's net profit slides 43%, operating income falls 29%
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| Key Corp Ltd has reported a net profit of Rs. 2.56 million for the year ended March 31, 2000 as against Rs. 4.46 million in MQ 99. The operating income for the year is down by 29.32% at Rs 39.22 million. Other income is Rs. 0.12 million (MQ 99 Rs 0.30 million). The profits for the quarter ended March 31, 2000 are Rs. 0.98 million, as compared to Rs 1.23 million in the previous financial year. The operating income is 27.49% down at Rs. 9.95 million as against Rs 13.72 million in the MQ 99. The Company's equity share capital and Reserves as on March 31, 2000 stood at Rs 60 million and Rs 37.15 million respectively.
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| Gravity Silk Mills to enter IT Business
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| In order to diversify into the Information Technology business, Gravity Silk Mills has changed its name to Gravity (India) Ltd. At an Extra Ordinary General Meeting, the company passed two special resolutions relating to the Object Clause of its Memorandum of Association to effect the shift in business and the change in name.
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| Gazi Securities to exit financial services, venture into online education
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Gazi Securities Ltd has discontinued its activities in the financial services and will now concentrate on marketing the products of associate concern, Gazi Commerce Classes (GCC) and other educational institutions on the Web. In order to reflect the foray into online education and training on the Internet, the Company has also changed its name to G-Tech Info -Training Ltd.
Gazi Securities has been consulting GCC on teaching methodologies in Accountancy, management and commercial subjects. The company now plans to convert all the existing literature into a compact disc and develop a web site for the purpose for which it will acquire rights.
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