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Zee Telefilms Q1 net profit rise 57.52%, operating income up by 28%

Zee Telefilms Ltd has announced a net profit of Rs 267 million for the quarter ended June 30, 2000 as against Rs 169.5 million recorded in JQ 99, a growth of 57.52%. The television broadcasting major reported sales and service income of Rs 533.5 million as against Rs 489.1 million in JQ 99. The commission income for the quarter is Rs 173.2 million compared to Rs 132.7 million in the same quarter of the previous year. Thus the total income at Rs 811 million represents a 27.98% over Rs 633.7 million recorded in JQ 99. The interest income for the quarter is significantly higher at Rs 30.9 million as against Rs 16.9 million, representing an increase of 82.84%. The taxation provision is also higher at Rs 89 million (JQ 99 Rs 57.6 million).

Court dismisses Dr Reddy's Laboratories Unions interim application

Dr Reddy's Laboratories Ltd. has informed the BSE that the two interim applications filed before the junior civil judge at Medchal by agitating workers at one of the formulations units of Dr Reddy's Laboratories have been dismissed by the court. The court has also partially allowed the management plea for restraining the agitating union from not interfering with the movement of men and materials within 150 meters from the said premises and ordered the company not to move machinery. Dr Reddy's Laboratories Formulations Employees Union called for a strike primarily on grounds of the change of working hours and matters relating thereto. The total strength of employees at this unit is 341 of which 99 are regular workmen who went on strike. In response to the strike call the management had already put its contingency plan in action for continuing the production process with the help of supervisors and managerial personnel. Due to intermittent troubles caused by the workmen this unit did suffer a production loss of about Rs 20 million. However the overall production of the organisation remained intact as a result of the support from other manufacturing units and therefore the strike did not have a serious impact on the performance of the company. The marketing and business operations are normal. Of late there is also an improvement in the attendance of the workmen who went on strike.

Pentamedia Graphics net profit up by 92%, sales up by 46%, Operating profit rises 50%

Pentamedia Graphics Ltd (Formerly known as Pentafour Software &Exports Ltd) has announced a 92% growth in the net profit for the quarter ended June 30, 2000. This Chennai based animation and multimedia software company, has reported a sales of Rs 1144.9 million as against Rs 784.2 million in the corresponding quarter of the previous year, a growth of 46%. The sales comprised Rs 1056 million from exports and Rs 88.9 million from domestic operations. Animation, Special Effects and Multimedia Products & Services contributed 60%, 18% and 22% of the turnover respectively. The net profit at Rs 408.2 million is 92.46% higher compared to Rs 212.1 million in JQ 99. The other income for the quarter ended June 30, 2000 is Rs 41 million as against Rs 8.2 million in JQ 99. The company has reported a 50% increase in the operating profit for the current quarter over the corresponding quarter of the previous year. The company has obtained STPI status for its Multimedia activities at Secundarabad, Calcutta, Mumbai, Bangalore & New Delhi. The company's Book value is Rs 316 per share and the company's annualised earnings works out to Rs 41/- per share.

Global Tele-Systems allots equity shares under ESOS

The Board of Directors of Global Tele-Systems Ltd at its meeting held today(July 7, 2000) has made allotment of 30496 equity shares of Rs 10/- each for cash at a premium in terms of the Employees Stock Option Scheme (ESOS) of the company upon exercise of right of conversion of warrants into equity shares by the employees.

Lockout declared at Cethar Industries knitting factory

Cethar Industries Ltd. has informed the BSE that the company has declared lockout since July 6, 2000 at the Knitting and Garment factory situated at Trichy. This is because of the fact that the workmen went on an illegal strike.

Other income helps G E Shipping Q1 net grow by 206.51%

The Great Shipping Company Ltd. has posted a net profit of Rs 485.20 million for the quarter ended June 30, 2000 as compared to Rs 158.30 million in the previous quarter ended June 99. The net sales for the quarter ended June 30, 2000 are up by 14.14% at Rs 2313.20 million. Other income has grown from Rs 104.30 million in the quarter ended June 99 to Rs 246/- million in the quarter ended June 30, 2000.

Cadbury to sell its Colaba property for Rs 80 million

Cadbury India Ltd. has informed the BSE that it proposes to sell its property at Colaba, Mumbai for a consideration of Rs 80 million. The sale is subject to the approval of the appropriate authority under chapter XX-C of the Income-tax Act, 1961.

Hindustan Construction secures contract worth Rs 2.19 billion

Hindustan Construction Company Ltd. has informed the BSE that it has secured a work order for Rs 2.19 billion from National Highways Authority of India, New Delhi for construction of Concrete Cable Stayed Bridge across river Yamuna at Allahabad /Naini on NH-27 in Uttar Pradesh to be executed jointly with M/s Hyundai Engineering & Construction Co Ltd. Seoul Korea. As per the Letter of Acceptance the work shall be completed within a period of 40 months from the date of commencement.

India Foils net loss rises 20%, sales grow by 10.66%

India Foils Ltd has incurred a net loss of Rs 403.9 million for the year ended March 31, 2000 as against a loss of Rs 336.7 million incurred in the previous year. The sales for the year were Rs 3.06 billion, representing a growth of 10.66% compared to Rs 2.77 billion the company recorded in the previous year. Other income declined 52.71% from Rs 42.5 million in FY 99 to Rs 20.1 million in FY 2000. Interest expenditure for the year was also lower at Rs 452.6 million as against Rs 522.8 million in FY 99. The loss for the financial year 2000 has been arrived at after considering claims/rebates and discounts of Rs 283.8 million pertaining to earlier years. The company's equity share capital has increased from Rs 173.4 million as on March 31, 1999 to Rs 283.5 million as on March 31, 2000. The share capital increased due to the allotment of 11 million shares of Rs 10 /- each at a premium of Rs 13.50 per share.

BSE imposes Special margin on Logix Micro, Tropicana Resorts , and Ami Computers

The Stock Exchange, Mumbai has imposed a Special margin at the rate of 25% on the following scrips with effect from July 07, 2000. Sr No Scrip Code Scrip Name Scrip Group Special Margin Per Share (%) 1. 32341 Logix Micro Systems Ltd B2 25% 2. 30619 Tropicana Resorts & Properties Ltd B2 25% 3. 26805 Ami Computers (I) Ltd B2 25%

Visualsoft Technologies Authorised Share capital increased to 250 million

The Authorised Share Capital of Visualsoft Technologies Ltd has been increased from 102.5 million to 250 million w.e.f. June 26, 2000.

Usha Ispat's last date for exercise of warrant option lapses

Usha Ispat Ltd has informed the BSE that, since the last date for subscription of shares against warrant viz. June 30, 2000 has passed, the un-excercised portion of the warrants issued with 5,083,000 - 17% Secd. Red. NCDs of Rs.100/- each has lapsed. Henceforth the company will not entertain any request for transfer/subscription of shares on exercise of option attached with the aforesaid warrants.

Prime Solvent shuts plants at Madhya Pradesh, entire workforce resign willfully

The company has informed that, due to financial constrains the Board has decided to suspend the manufacturing activities at its plant at Karell and Chhindwara in the state of Madhya Pradesh. Due to this, the entire workforce employees at both the plants have willfully resigned. The Board of Directors of the company is working to revive the plant.

Pentasoft Technologies awarded SEI-CMM Level 4 Certificate

Pentasoft Technologies Ltd has been awarded SEI-CMM Level 4 certification by KPMG Consultancy Pvt Ltd.

Landmarc Leisure to issue equity shares at prices as per SEBI guidelines

The Board of Directors of Landmarc Leisure Corporation Ltd has decided as under: 1. To increase the Authorised Share Capital by Rs.124 million. 2. To re-classify 2,40,000 preference shares of Rs.100/- each into 24,00,000 equity shares of Rs.10/- each. 3. To issue equity shares or other securities to any authority/person/institutions at the rate to be decided in accordance with SEBI Guidelines. 4. EGM of the company will be held on 24.07.2000.

VisualSoft Technologies to make additional payment of Rs 27.50 million to Danlaw Inc USA

Visual Soft Technologies Ltd. (formerly Visual Soft (India)Ltd.) had developed VisualShift, a product to fix Y2K problems in client server applications. Initially Visual Soft had got aligned with Danlaw Inc of USA to promote the product. It had also entered into an MOU with Danlaw Inc for certain services such as testing etc for which they are eligible for 22.5% of payments upon receipts Danlaw Inc has recently made a claim for additional payment under the above MOU This is on account of an interpretation from one made by Visual Soft Both the companies have settled the dispute on July 6, 2000. Visual Soft will provide for this liability of Rs 27.50 million in its accounts for the quarter ended June 30,2000.

Kopran Drugs CCPs conversion price fixed at Rs 59/- per share

The Board of Directors of Kopran Drugs Ltd has fixed the conversion price of Optional Convertible CCPs at Rs.59/- per equity share. The price has been fixed as per the pricing formula given in the scheme of arrangement between Kopran Ltd and the company. The offer period for conversion has commenced from June 27, 2000 and will close on July 31, 2000.

KGN Agro Internationals unit taken over by UPFC

KGN Agro Internationals Ltd has informed the Bombay Stock Exchange that, its unit has been taken over by UPFC under Sec.29 of SFC Act. Now there is no activity of production/commercial activity. The legal cases with financial institutions are pending in DRT, Jawalpur & Supreme Court, New Delhi.

IFCI denies reports of offering stake to foreign party

With reference to the news item titled "IFCI in talks with German bank KFW to offload 20% stake" appearing in The Financial Express dated July 3, 2000, IFCI has informed the BSE that KFW Germany has through Government of India given from time to time grants aggregating about Rs 170 crores to IFCI. This is considered as part of Tier-1 capital for computing capital adequacy. Further, the company has said IFCI is not in negotiations with KFW or any other foreign party for offering equity stake in IFCI.

Barasia Holdings to increase Authorised share capital, to issue further shares

The Board of Directors of Basaria Holdings & Trading Co. Ltd has decided to increase the authorised share capital of the company from the existing Rs 2.5 million to Rs 60 million. The Board has decided to issue further share/securities and to borrow and to create charge on the assets of the company up to Rs 500 million.

Diamond Industrial Fiscal allots equity shares on preferential basis

Diamond Industrial Fiscal Services Ltd has allotted 16,00,000 equity shares of Rs.10/- each at a premium of Rs.8/- per share. Further, company has informed BSE that, Unit Trust of India has subscribed to acquire 7,25,000 equity shares of Rs.10/- each at a premium of Rs.45/- per share on preferential basis.

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