Opto Circuits Q4 net profit up by 102.92%, FY-01 net up by 82.45%

Opto Circuits India Ltd has posted a net profit of Rs 40.96 million for the quarter ended March 31, 2001 as compared to Rs 20.18 million in the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 124.03 million as compared to Rs 68.70 million in MQ 2000. The net profit for the year ended March 31,2001 is at Rs 62.60 million as compared to Rs 34.31 million in FY 2000. The Total Income for the year ended March 31, 2001 has increased by 55.17% as compared to the previous financial year. Total Income for the financial year ended March 31, 2001 stood at Rs 287.20 million as against Rs 185.09 million in the corresponding period last fiscal. The Board has recommended 30% dividend on paid-up Capital, subject to the approval of the shareholders in the ensuing Annual General Meeting.

Polaris Software FY-01 results on April 21, 2001

Polaris Software Lab Ltd has informed BSE that the Board of Directors of the Company will meet on Saturday, April 21, 2001 to consider among other things the following: 1. To take on record the audited accounts of the Company for the quarter and year ended March 31, 2001. 2. To recommend payment of dividend for the financial year 2000-2001.

Hughes Software to develop software for Nokia Networks

Hughes Software Systems (HSS) India's number one communication software company today (April 10, 2001) announced a multi year cooperation with Nokia Networks a world leader in mobile communications infrastructure. HSS will develop software for Nokia Network's systems solutions for building telecom network infrastructure. HSS is setting up a state of the art dedicated development facility at Gurgaon for this purpose. The offshore facility will conform to Nokia's stringent international standards. This facility will also cater to potential expansion of the cooperation. This agreement extends our reach into the wireless market by cooperating with Nokia a premier name in mobile telephony and wireless networks, said Arun Kumar President and Managing Director HSS. "Working with Nokia enables us to enhance our domain expertise and develop better solutions for Nokia to meet their customers expanding needs."

Satyam Computer posts a 168.35% increase in Q4 net profits, and helped by Extraordinary Income posts 274.11% rise in FY-01 net profit

Satyam Computer Services Ltd. has posted a net profit of Rs 1113.42 million for the quarter ended March 31, 2001 as compared to Rs 414.90 million in the corresponding period last fiscal. Total Income for the quarter ended increased from Rs 2067.99 million in MQ 2000 to Rs 3842.42 million in the quarter ended March 31, 2001. The net sales for the financial year ended March 31, 2001 stood at Rs 12416.73 million as compared to Rs 6790.12 million in the corresponding period last fiscal. Net profit for the financial year ended March 31, 2001 is at Rs 4862.88 million as compared to Rs 1299.84 million in the financial year ended March 31, 00. For the year ended March 31, 2001 the company has earned an extra-ordinary item of Rs 1701.25 million and had incurred an extra ordinary expense of Rs 48.79 million in FY 2000. A final dividend of 22% (Rs.0.44 per share on par value of Rs.2 per share) has been recommended at the Board Meeting, subject to the approval of members. Thereby the total dividend recommended for the year is 40% (Rs 0.80 per share on par value of Rs.2 per share), including interim dividend of 18% (Rs 0.36 per share on par value of Rs 2 per share),on expanded capital base. The register of members and share transfer books will remain closed form June 25, 2001, both days inclusive, for the purpose of Annual General Meeting and Final dividend. The total manpower strength as on 31 March, 2001 stood at 8370 associates as against 8141 associates as on December 31, 2000 signifying an increase of 229 associates. The number of technical associates increased by 189 to close the quarter at 7616 (7427 associates as on December 31, 2000). For the financial year ended 31 March 2001 foreign exchange rate fluctuations resulted in an increase in total income by Rs 244.34 million and profit before tax by Rs 183.834 million

Kodak Q1 results on April 21, 2001

A meeting of the Board of Directors of Kodak India Ltd has been convened on April 21, 2001 to consider the unaudited financial results of the company for the quarter ended March 31, 2001.

Ashok Leyland FY-01 results on April 24, 2001

A meeting of the Board of Directors of Ashok Leyland Ltd. has been convened on April 24, 2001 to consider the audited financial results of the company for the financial results for the year ended March 31, 2001.

P&G Q3 results on April 27, 2001

A meeting of the Board of Directors of Procter & Gamble Hygeine and Health Care Ltd. has been convened on April 27, 2001 to consider the unaudited financial results of the company for the third quarter ended March 31, 2001.

Glaxo Q1 results on April 27, 2001

A meeting of the Board of Directors of Glaxo India Ltd. has been convened on April 27, 2001 to consider the unaudited financial results of the company for the first quarter ended March 31, 2001.

Burroughs Wellcome Q1 results on April 27, 2001

A meeting of the Board of Directors of Burroughs Wellcome India Ltd. has been convened on April 27, 2001 to consider the unaudited financial results of the company for the first quarter ended March 31, 2001.

Pentamedia Graphics to refer acquisition of Film Roman to Board of Directors

Pentamedia Graphics Ltd has informed BSE that a MoU between Pentamedia Graphics Ltd., and Film Roman was signed on October 11, 2000 for the former to acquire a 51% stake of Film Roman for a consideration of US$ 15 million. When the MoU was signed, the Film Roman stock price was quoting at US$ 1.15 in the NASDAQ Small Cap Market, Subsequently, Film Roman stock was delisted in the Small Cap Market and transferred to Over the Counter Bulletin Board. Consequently to this development, the deal was renegotiated and Film Roman agreed to offer Pentamedia a 60% of its diluted equity for the same consideration of US$ 15 million, as earlier agreed upon. During this time, Pentamedia obtained the approval of its shareholders for its various acquisitions including that of Film Roman through an Extraordinary General Meeting (EGM) of the shareholders held at Chennai on December 15, 2000. Mr.John Hyde, the CEO of Film Roman, during his visit to India, for a press conference held on Mumbai on December 13, 2000, conveyed Film Roman's intention to complete the deal before January 31, 2001. However, Film Roman got the necessary approval for this acquisition from its shareholders only on March 27, 2001 and informed Pentamedia to close the deal before April 13, 2001. As considerable time has lapsed since Pentamedia obtained the permission of its shareholders for this deal and also keeping in mind the subsequent development in the global stock markets including NASDAQ and India, Pentamedia has decided to refer the matter to the Board of Directors in the ensuing Board Meeting to be held on April 12,2001. In the meantime, Pentamedia continues to pursue its growth and expansion in the entertainment industry, as per its original plans.

Raymond clarifies on news item

With reference to news item appearing in a financial daily "Raymond may have an eye on Indus League" Raymond Ltd has informed BSE that the news item referred, namely the acquisition of Indus League has no present basis in fact and is speculative in nature.

Castrol India Q1 results on April 20, 2001

A meeting of the Board of Directors of Castrol India Ltd. has been convened on April 20, 2001 to consider the unaudited financial results of the company for the first quarter ended March 31, 2001.

D-Link India to be listed on BSE from April 11, 2001

BSE has informed members of the exchange that the equity shares of D-Link India Ltd are admitted to dealings on the exchange in the list of non-specified securities under Group B1 with effect from April 11, 2001. The scrip code for trading in the normal segment will be 32419.

Kaashyap Radiant allots Preference Shares to UTI Bank

Kaashyap Radiant Systems Ltd has informed BSE that the Board of Directors of the company has allotted 0.40 million 11% Preference Shares of Rs 100 each to M/s.UTI Bank Ltd.

Nestle Q1 results on April 25, 2001

A meeting of the Board of Directors of Nestle India Ltd. has been convened on April 25, 2001 to consider the unaudited financial results of the company for the first quarter ended March 31, 2001.

Chakan Vegoils to be referred to BIFR

At the AGM of Chakan Vegoils Ltd. members of the company have passed following resolutions: 1. Special resolution for allotment of fresh equity shares on preferential basis to Mr.Nitin Lunkad, Promoter and Managing Director of the company at par for the total amount of Rs.4,92,28,000. 2. Special resolution for noting of erosion of entire net worth of the company and noting of the fact that the company has become a Sick Industrial company as per SICA, 1985, and refer the matter to the Hon'ble BIFR Authorities.

Rolta fixes book-closure for dividend

Rolta India Ltd. has informed BSE that the Register of Members and Share Transfer Books will remain closed from May 16,2001 to June 06,2001(both days inclusive) for the purpose of the eleventh Annual General Meeting on June 06, 2001 and payment of dividend on equity shares recommended by the Board of Directors 27.50%(Rs 2.75 per equity share of Rs 10 each).

BSE revises special margin on 21 scrips

BSE has revised special margin on the following scrips with effect from Monday April 9, 2001. CODE NAME GROUP SPECIAL MARGIN (%) 410 A C C A 25 12599 ADANI EXPORTS A 25 31907 DENIM ENTERPRIS B2 25 24170 DSQ BIOTECH B2 50 23864 DSQ SOFTWARE A 25 31984 GUJARAT FISCON B2 50 888 JAIPRAKASH INDS A 25 32127 MOBILE TELE B2 25 32279 RSL INDUS B2 25 32118 SAI INFO.SERVIC B2 50 378 SAW PIPES A 25 12028 SHONKH TECH B2 50 17411 SHYAM TELECOM A 25 32274 SOFFIA SOFTWARE B2 25 32221 SONATA SOFTWARE A 25 31830 TODAY'S WRITING B2 25 26707 TOUBRO INFOTECH B2 50 32035 UNISTAR MULTI B2 25 32325 VITAL COMM B2 25 32300 WOCKHARDT A 25 31404 ZICOM ELECT B2 25

TVS Suzuki announces change in management structure

TVS-Suzuki Ltd has informed BSE about the following changes in the management: Mr. H. Lakshmanan, Mr.Osamu Matsuoka, Mr. Junzo Sugimori, Mr. Tsuneo Riew, Directors have resigned from the Board of Directors of the company. The following Directors has been appointed to fill in the casual vacancy due to the resignation of the aforesaid directors are Mr. N Ganga Ram, Mr MasatoWatanabe, Mr Veerendra Raj Mehta & Mr Arun Sinha. Mr. Venu Srinivasan, who was hitherto Chairman and Managing Director of the company, has resigned from his Chairmanship but continues as the Managing Director.

Delhi High Court approves merger of Motherson Auto with Motherson Sumi Systems

Motherson Sumi Systems Ltd has informed BSE that the Hon'ble Delhi High Court has approved the merger of Motherson Auto Components Engineering Ltd. with the company and the Court Order for the same has been received.

United Western announces changes in Directors

United Western Bank Ltd has informed BSE that the following changes have taken place in the Board of Directors of the bank: Dr N A Kalyani resigned from the post of Director w.e.f March 29, 2001 and Smt Prabha P Kulkarni co-opted as an Director to fill the causal vacancy caused by resignation of Dr N A Kalyani.

Money

Rapid Information on Stocks & Corporates

Tell us what you think of this report