Carborundum Universal fixes specified date for the purpose of buy-back

Carborundum Universal Ltd. has informed the BSE that it has fixed September 13, 2000 as the specified date in accordance with the Securities and Exchange Board of India (Buy-Back back of Securities) Regulations 1998 for the purpose of the buy-back offer. The company will buy-back 27,67,800 equity shares of Rs 10/- each at a price of Rs 115/- per equity share from the existing shareholders of the company.

HCL Infosystems to grant options

HCL Infosystems Ltd. at its Board Meeting held today (August 10, 2000) has taken the following decisions relating to Employee Stock Options Plan: 1. The grant of 30,18,000 options 2. The grant date shall be August 10,2000 3. The exercise price of Rs 290/- which is the closing market price of the shares on August 10, 2000(the grant date) at the National Stock Exchange of India Ltd where the shares are quoted and which recorded the highest trading volume on the grant date. Based on the ESOP Scheme approved by the shareholders of the company.

HCL Infosystems FY 2000 net up 24.84%

HCL Infosystems Ltd. has reported a net profit of Rs 730.61 million for the year ended June 30, 2000, an increase of 24.84% as compared to a profit of Rs 585.24 million for the previous year. Net sales for FY 2000 stood at Rs 11.25 billion an increase of 18.91% as compared to sales of Rs 9.46 billion for FY 1999. Other income for FY 2000 stood at Rs 112.57 million as compared to Rs 401.83 million in FY 1999. During FY2000 the company invested Rs 35.44 million and Rs 50.05 million in its subsidiaries -Infosystems (Bermuda) Ltd. and HCL Infinet Ltd. The Board of Directors has recommended dividend of 25% for FY 2000.

HCL Technologies FY 2000 net up by 97.98%, ADR issue upto US $ 500 million proposed

HCL Technologies Ltd. has reported a net profit of Rs 1,999 million for the year ended June 30, 2000, an increase of 97.98% as compared to profit of Rs 1,009.7 million reported in the previous year. Net sales for FY 2000 stood at Rs 3,666.8 million, an increase of 44.95% as compared to net sales of Rs 2,757.3 million in the previous year. Other income for FY 2000 stood at Rs 520.6 million, registering an increase of 189.06% as compared to other income of Rs 180.1 million in FY 1999. The Board of Directors of the company has recommended payment of 5% dividend for FY 2000. The AGM of the company will be held on October 20, 2000. The Board also proposes to issue of ADRs upto US $ 500 million. Net income under US GAAP stood at US $ 52.11 million, an increase of 135.6% as compared to US $ 22.118 million in the previous year.

Geojit Securities to invest in IT subsidiary, issue ESOPs

Geojit Securities Ltd. has informed BSE that in the Board meeting held on August 7, 2000 it has decided to: 1) Invest in the subsidiary company doing business relating to information technology, computer application and software development to the extent of 25% amounting to Rs 10 million of the equity capital of Rs 40 million 2) Implement Employee Stock Option scheme and to issue one lakh equity shares of Rs 10/- each after getting a special resolution passed in the ensuing AGM of the company proposed to be held on September 23, 2000.

Kochi Refineries to consider Bonus issue

Kochi Refineries Ltd. has informed BSE that a meeting of the Board of Directors of the company will be held on August 12, 2000. In the agenda for the meeting, a proposal for issue of Bonus shares will be included for consideration by the Directors.

Financial Technologies to merge with Worldwide Technologies

The Board of Directors of Worldwide Technologies Ltd. has decided to merge Financial Technologies (I) Pvt. Ltd. with the company, subject to necessary approvals. The Board has decided to appoint M/s Dalal & Shah, Chartered Accountants as valuers to recommend the exchange ratio of equity shares.

SRH Synthetics suspends operations at Haryana plant

SRH Synthetics Ltd. has informed BSE that, due to labour unrest at the manufacturing site of the company at HSIDC 164, Kundi, Phase I, Haryana, the production and related operations of the company have been temporarily suspended at that place.

Raunaq Automotive Components to issue equity shares on preferential basis

The Board of Directors of Raunaq Automotive Components Ltd. has decided to issue upto 1 million equity shares of Rs.10/- each on preferential basis to Mr. H. S. Kohli & his associates.

BSE imposes special margin on 2 scrips

BSE has imposed Special Margin on the under mentioned scrips with effect from Thursday, August 10, 2000. Sr No Scrip Code Scrip Name Scrip Group Special Margin Per Share (%) 1. 32035 KUMBH FINANCE LTD B2 25% 2. 32089 MOH LTD B2 25%

India Cements Capital to increase share capital

The Board of Directors of India Cements Capital & Finance Ltd has approved increase in the issued share capital of the company from Rs 133.7 million to Rs 267.4 million by issue of additional securities. A meeting of the shareholders will be held on 27.09.2000 to approve the same.

Bajaj Auto to adopt Tender Offer Method for buy-back

The Board of Directors of Bajaj Auto Ltd. has decided: a. To adopt the Tender Offer Method for buy-back of equity shares b. To offer the buy-back at a price of Rs.400/- per share, involving a total outlay of Rs 7200 million. This is well below 25% of the paid up capital and free reserves of the company as at 31.03.2000. At the AGM, the shareholders of the company had approved the proposal of buy-back of upto 18 million equity shares of Rs.10/- each of the company at a price not exceeding Rs.450/- per share

Cadila's manufacturing plant at Moraiya receives MCC recognition

The Medicines Control Council (MCC) of South Africa, one of the world's key regulatory authorities has approved the manufacturing plant of Cadila Healthcare located at Moraiya. The state of the art plant, which is one of the largest of its kind at a single location, is spread over 1,36,000 square metres. The plant was inspected in March 2000. The approvals are of crucial significance as registration of products in the South African market is only possible after the manufacturing site of a company has been inspected and approved by the MCC. The South African pharmaceutical market is estimated at US $ 1 billion. The company also plans to gain recognition from the other regulatory bodies such as MCA of UK, TGA of Australia and USFDA of US, which are important for an entry in the regulated markets. As a part of its global strategy, Cadila is working towards filing 10 Abbreviated New Drug Applications (ANDA's) and European Product Licenses by the end of December 2001. The current US and European market for these products is around US $ 20 billion. All these products belong to the blockbuster drugs which are in the Top 20 in the US and European pharmaceutical market. These products are under various stages of development and a few of them are at an advanced stage of bioequivalence study. The company is utilising its potential for backward integration into Bulk Active manufacturing capability and has applied for a European Certificate of Suitability for a Bulk Active and a second application is under process. Cadila has already sent a US Drug Master File (DMF) during July 2000. The company also plans to submit 12 DMFs for US and European submissions by December 2001. The company has set up a subsidiary in New Zealand and processes for registering four products in New Zealand and Australia are underway. Regulatory evaluation for one product is already in process and three more are under advanced stages of bioequivalence study.

Vikas WSP stock split approved

Vikas WSP Ltd. has informed BSE that the shareholders of the company in the Extra Ordinary General Meeting held on August 9, 2000 have approved the subdivision of the company's shares. The company's existing paid up equity shares of Rs 10/- each will now be subdivided into fully paid up equity shares of Re 1/- each. The record date for the stock-split will be intimated at a later stage.

Extra-Ordinary Income helps Gujarat Ambuja Cement FY 2000 net profit grow by 184.55%,declares 15% final dividend

Gujarat Ambuja Cements Ltd. has posted a net profit of Rs 4281.6 million for the financial year ended June 30,2000 as compared to Rs 1504.70 million for the year ended June 30,99. Net sales for the year ended June 30, 2000 are at Rs 13025/- million as compared to Rs 12522.50 million in FY 99. Other income for the year ended June 30, 2000 is at Rs 281.50 million for the quarter ended June as against Rs 283 million for FY 99. The Company has sold its entire investments in the shares of subsidiary companies viz. Ambuja Cement Eastern Limited, Hometrust Housing Finance Co. Ltd.; and DLF Gujarat Ltd. Company has earned an extraordinary income of Rs. 28160 million. The company has sold 5.98 million tonnes of cement and clinker during the financial year ended June 30, 2000 as against 5.91 million tonnes in the previous financial year ended June 30, 99. During the year the company has acquired the management of erstwhile DLF cement, now known as Ambuja Cement Rajasthan Ltd. This company has a cement plant of 1.4 million tonnes located in Rajasthan alongwith a captive power plant. The work on company's new 2 million tonnes cement plant in Maharashtra is progressing well and is expected to be operative in December 2001.The orders for the main plant and equipments have been placed and the total cost is estimated to be about Rs 6000 million. The Board of Directors has recommended a final dividend on equity shares at the rate of 15%. This together with interim dividend of 25% paid during the year amounts to a total dividend of 40% on the enlarged share capital arising out of bonus shares issued in the ratio of 1:1 during the year.

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