SQL Star denies "take-over" news item

The Management of SQL Star International Ltd has strongly denied a news item appearing in a leading daily which hints at a US based company trying to "take over" SQL Star. According to the Managing Director of the Company, Dr Ashok Agarwal "The news item is highly speculative and imaginary .The management of SQL Star has no discussions with Paradigm Software group and stand by its commitment to grow the company under its management in its current Business areas."

NIIT prepares for US slowdown

In a communication to the BSE, NIIT Ltd has indicated that it is preparing itself to contain the impact of the US slowdown on its operations. A statement issued at the end of a mid-quarter review by the Company stated "The outlook for this quarter indicates that our software services in the revenue in the US market will grow at a rate lower than we expected." Mr. Arvind Thakur, President, NIIT's Global Software Business said "Two of our software clients in the USA are merging leading to project consolidation and start delays. We expect the project to get going once the merger process is completed. In addition, we experienced project commencement delays in another software assignment." He also added that the Company was expecting longer selling cycles for large value software business in the US. Mr Thakur also added that to contain the impact, the Company was putting into action a set of strategies aimed at intensifying business acquisition with large clients, cutting overheads and resorting to Just-in-time hiring. "The Education business is growing well and is on track on various parameters like center expansion capacity enhancement and increase in fresh enrolments in all segments especially the high-end training segment" said P Rajendran, Chief Operating Officer Of NIIT. Asked to comment on the likely impact on the financials, NIIT CEO Mr. Vijay Thadani said, "The growth in operating margins will be lower this quarter. The current year operations will add substantially to our existing reserves of Rs 5800 million and our large cash position, creating a more solid financial foundation to build a strong future."

AMI Computers allots shares on preferential basis

AMI Computers (I) Ltd has informed BSE that at the meeting of the Board of Directors held today (March 7, 2001) it has issued and allotted 39,00,000 equity shares at Rs 23 per share (Face Value Rs 10 plus premium of Rs 13) on preferential basis to promoters and others. The aforesaid issue has been made in the following manner: Name of the Allottees Category No of shares allotted R A Consultancy (P) Ltd Promoter 15,00,000 Tanushree Securities (P) Ltd Promoter 15,00,000 V K Chorana Individual (others) 4,50,000 Kamal Singh Individual (others) 4,50,000 Subsequent to the aforesaid issue of the fully paid up equity shares, the paid up capital of the Company stands at Rs 10,02,44,000. The allotment has been made pursuant to a special resolution passed at an Extraordinary General Meeting of the shareholders held on December 15, 2000.

Demuric Holdings to acquire 6.03 million shares of Search Chem Inds

Search Chem Industries Ltd has informed BSE that the Company has received a notice from Demuric Holdings Pvt Ltd with its intention to acquire 60,35,640 shares of the Company from the promoters, inter se on or after March 13, 2001 at market price.

TTK Healthcare EGM approves disposal of Bulk Drugs & Pharma Formulations Undertaking

TTK Healthcare Ltd has informed BSE that at the Extraordinary General Meeting of the Company held today (March 7, 2001) the shareholders have accorded their consent for the disposal of Bulk Drugs and Pharmaceutical Formulations Undertaking situated at Hyderabad. The aforesaid consent has been accorded by the shareholders under section 293(1)(a) of the Companies Act, 1956. The Company has further stated that its has identified a Buyer for disposal of the aforesaid Undertaking and has entered into a Memorandum of Understanding.

Nestle FY 2000 net up by 20.41%, Sales up by 8.65%

Nestle India Ltd has posted a net profit of Rs 1186 million in the year ended December 31, 2000 as against a net profit of Rs 985 million in the same period last fiscal. Net Sales for FY 2000 are higher at Rs 16775 million as compared to Rs 15439 million in FY 99. Other Income for the period ended December 31, 2000 are at Rs 107 million as against Rs 83 million in the year ended December 31, 99. Domestic Sales for the year have grown by 7% over the previous year and Export Sales by 16%. Net Profit for FY 2000 has increased by over 20% over 1999 mainly on account of favourable commodity prices and lower interest cost arising out of better net working capital management and improved margins. The contingency provision which has been provided for the year is mainly for various contingencies resulting from matters under litigation/ management discretion and product warranties. The Board of Directors has declared an Final Dividend of Rs 6 per equity share for the year ended December 31, 2000 taking the total Dividend for the year to Rs 14 per equity share.

Pfizer Board to meet on March 31, 2001 to consider Q1 results

A meeting of the Board of Directors of Pfizer Ltd is scheduled to be held on March 31, 2001 to consider the unaudited financial results for the first quarter ended February 28, 2001.

Opto Circuits develops new Wavesmart technology for Sp02 sensors

Opto Circuits (India) Ltd has developed a new Wavesmart technology for SP02 sensors. Then Company plans to license this to other OEMs and produce OEM sensors and monitors with this technology. Application for patents of the same has been filed in US in July 2000. The Company expects the patent for this technology issued by 2002. The Company is also in talks with an existing local medical device manufacturer and distributor of Diagnostic products for a possible acquisition. This should help the Company market its products in the expanding market. The Company has also received a new large volume order, valued at over US $ 8,00,000 for disposable medical sensors from a leading Patient Monitor OEM in the eastern United States. This production order represents a record booking and a 300% volume increase from this customer compared to the year 2000. The product will be assembled and tested in the Company's state of the art manufacturing unit in Bangalore. Shipments are set to begin this quarter and will continue through 2002. The Company has also bagged an additional purchase order for 70,000 disposable medical sensors from another leading medical equipment manufacturer. This order, valued at US 300,000 further enhances the Company's market position as a leader for medical sensors used in blood gas monitoring. These new orders are in addition to the Mega US$ 2 million order received by the Company in early February 2001.

Abbot to make open offer to shareholders of Knoll Pharma at Rs 328 per share

Kotak Mahindra Capital Company for and on behalf of Abbot Equity Holdings Ltd (Abbot UK), a Company incorporated under the laws of England and Wales and Abbot Laboratories (Abbot USA), a Corporation organized under the laws of the State of Illinois, USA has made an open offer to the shareholders of Knoll Pharmaceuticals Ltd . The acquirers propose to acquire 20% of the total issued and outstanding shares of the Target Company. The offer is therefore to acquire 32,400,000 Shares of the Target Company representing 20% of the voting equity capital of the Company. The price for this offer has been fixed at Rs 328 for each fully paid-up share of the Target Company and is to be paid in Cash in accordance with the regulations. The Offer is not subject to any minimum level of acceptance. On March 02, 2001 Abbot UK had acquired from Lupharma GmbH the entire equity capital of Lupharma UK Holding One Ltd, which holds 82,62,000 shares of face value of Rs 10 each of in Knoll Pharmaceuticals Ltd (Target Company) representing 51% of the voting equity capital of the target Company. This has resulting in Abbot UK indirectly acquiring 51% of the Shares of the Target Company. The Acquirers do not directly hold any shares of the Target Company. The aforesaid announcement offer is subject to the Acquirers' obtaining the approval of necessary statutory approvals in this regard. The Specified Date for the offer has been fixed at March 09, 2001. The Offer would open on May 02, 2001 and would close on May 31, 2001. The Acquirers have appointed Kotak Mahindra Capital Company as its managers to the Offer.

Silverline Tech approves issue of shares to Morgan Guraranty

Silverline Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held today (March 7, 2001) has approved the issue and allotment of 1,24,54,884 underlying equity shares (representing American Depository Shares) to Morgan Guraranty Trust Company of New York, the Depository, for the acquisition of Sera Nova Inc., USA in terms of approval granted at the Extra-Ordinary General Meeting of the Shareholders of held on February 20, 2001. With this, the issued and paid up capital of the Company now stands at Rs 85,65,48,840/- (8,56,54,884 equity shares of Rs 10/- each).

Suspension at Jagdishpur Fertiliser Plant of Indo Gulf Corp

Indo Gulf Corporation Ltd has informed BSE that the Government of India (Department of Fertiliser) has put a cap on production of urea by the Company's Fertiliser Plant at 8.534 lac MT for the current financial year. The Company has reported that it had achieved the production level above the aforementioned capacity on March 04, 2001. The Company has hence been forced to shutdown its Fertiliser Plant to comply with the directive of the Government. The Company has also reported that persuation with the Government to remove/relax the aforesaid restriction has not yielded any favorable result in this regard.

BF Utilities fixes Record Date under Scheme of Arrangement

Bharat Forge Ltd (BFL) has informed BSE that the Board of Directors of BF Utilities Ltd (BFUL) at its meeting held on March 6, 2001 has fixed April 16, 2001 as the record date for determining entitlement for issue and allotment of (without any application and free of cost) one equity share of Rs 5 of BFUL, credited as fully paid up, for every one equity share of Rs 10, fully paid up, held in BFL on the Record Date. The allotment of shares of BFUL shall be deemed to have been made on the Appointed Date i.e March 01, 2000. The record date has been fixed pursuant to the scheme of arrangement between BFL and BFUL under Section 391 and Section 394 of the Companies Act, 1956 and as approved by the Hon. High Court of Judicature at Bombay.

Vidhi Dyestuff Mfg declares 10% Interim Dividend

Vidhi Dyestuff Mfg. Ltd has informed BSE that the Board of Directors of the Company at its meeting held today( March 5, 2001) has declared an Interim Dividend @ 10% (Re 1 per share) for the year 2000-01. The Company has fixed March 15, 2001 as the Record Date for the purpose of payment of Dividend.

B.K.Duplex Board approves sale of Fixed Assets.

B.K. Duplex Board Ltd has informed BSE that at the meeting of the Board of Directors of the Company, its meeting held today (March 5,2001) has approved the leasing/selling/disposing off the part of land and/or building and/or plant & machinery of the company, subject to the approval of the shareholders. The Board has also approved the convening of the Extra-Ordinary General Meeting of the shareholders on March 29, 2001 at Ludhiana to seek members approval on the same.

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