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Today's Writing products net profit rise 135.36%, sales up by 135.17%

Writing instruments manufacturer, Today's Writing products Ltd has reported a net profit of Rs 11.85 million and a sales of Rs 155 million for the quarter ended June 30, 2000. This represents a 135.36% increase in the net profit and a 135.17% increase in sales over the same period in the previous fiscal. The other expenditure for the quarter was significantly higher at Rs 65.2 million as against Rs 25.93 million in JQ 99.

AGK Computer enters into MoU with Zonkizizwe of South Africa

AGK Computer Secure Prints Ltd has entered into a Memorandum of Understanding (MoU) with M/s Zonkizizwe of South Africa for negotiations, award & execution of infrastructure & I.T.Projects in India and other SARC nations. Group Five Ltd, will provide the state-of-the-art technology. M/s Group Five Ltd is a multinational company engaged in large projects of building, roads, civil engineering, manufacturing & infrastructure, across the globe.

GV Films Q1 net profit at Rs 4.81 million, sales at 10.25 million

GV Films Ltd has reported a net profit of Rs 4.81 million for the quarter ended June 30, 2000. The sales for the quarter were Rs 10.25 million. The company had incurred a net loss of Rs 31 thousand on a turnover of Rs 7.84 million in JQ 99. The depreciation charge remained unchanged at Rs 0.35 million while the paid up share capital of the company increased by 10 million from Rs 57.5 million on JQ 2000 to Rs 67.5 million in JQ 2000.

ITC Hotels stake in Ansal Hotels rises to 54.65%

ITC Hotels Ltd has informed the BSE that it has acquired a further stake in Ansal Hotels Ltd (AHL). ITC Hotels now holds 2,72,79,310 equity shares of Rs 10/- each, representing 54.65% of AHL subscribed capital. Consequently AHL has become a subsidiary of ITC Hotels Ltd and ITC Ltd (the holding company of ITC Hotels Ltd) with effect from July 12, 2000.

Damage at Phoenix Mills premises due to heavy rains

Phoenix Mills Ltd has informed the BSE that a portion of the block 24 has collapsed due to heavy rain on July 13, 2000.A portion of the Bowling Company has also been damaged as a result of this. The company clarified there is no casualty at the site.

ITC Hotels JQ 2000 net profit down by 6.36%, sales up by 1.61%

ITC Hotels Ltd has reported a net profit of Rs 10.3 million for the quarter ended June 30, 2000 as against Rs 11 million recorded in JQ 99. The company recorded sales worth Rs 264.6 million in JQ 2000, representing a marginal growth of 1.61%. the staff costs for the quarter went up considerably from Rs 52.9 million in JQ 99 to Rs 62.8 million in JQ 2000.

Cabot India net profit declines 41.4%, sales up by 3%

Cabot India Ltd has reported a net profit of Rs 16.7 million on a turnover of Rs 362 million for the quarter ended June 30, 2000. The sales and profit figures for the same period in the previous year were Rs 28.5 million and Rs 320.5 million. While the sales increased 12.95% compared to the corresponding quarter of the previous year, the raw material consumed increased 41% from Rs 130.5 million in JQ 99 to Rs 184 million in JQ 2000.

Balrampur Chini net profit rises 248.46%, sales up by 43%

Balrampur Chini Mills Ltd has reported a sharp increase in the net profits for the quarter ended June 30, 2000. The company reported a net profit of Rs 102.1 million as against Rs 29.3 million in JQ 99, a growth of 248.6%. The sales for the quarter were 1029.2 million as against Rs 719.4 million in the same period of the previous year. The company crushed 35.534 million Qntls of Sugar cane during the 1999-2000 season as against Rs 22.811 million Qntls in 1998-99 season. The recovery rate was also higher at 9.96% as compared to 9.42% in the previous season.

Vashisti Detergents June quarter net profit at Rs 16 million

The board of Directors of Vashisti Detergents Ltd took on records the unaudited financial results of the company today (July 14, 2000). The company reported a net profit of Rs 16 million for the quarter ended June 30, 2000 as against Rs 13.2 million in JQ 99. The sales including other income for the quarter were 35.32 % higher at Rs 584.3 million compared to Rs 431.8 million in JQ 99. Staff costs for the quarter higher at Rs 16.4 million (JQ 99 Rs 9.8 million) due to the impact of long term settlement with the employees in May 2000.

Dr Reddy's Board & Shareholders clear Rs 8.8 billion FDI Proposal for ADS

The Foreign investment proposal of Rs 8.8 billion of Dr Reddy's Laboratories Ltd which was cleared by the Government yesterday is for issue of American Depositary Shares/Receipts of US$ 200 million approved by the company's Board of Directors and also shareholders in their respective meetings.

Max India to subscribe to equity capital of HealthScribe India

The Board of Directors of Max India Ltd. has approved the investment of upto the Indian Rupee equivalent of US $ 8.5 Million by way of subscription in the equity share capital of HealthScribe (India) Pvt. Ltd., (subsidiary of HealthScribe Inc., USA), a company engaged in the business of medical transcription.

G.L. Hotels to consider preferential allotment

The Board of Directors of the G L Hotels has decided as under: 1.To seek shareholders approval to offer issue and allot upto 50 lacs equity shares of Rs.10/- each at a premium of Rs.5/- per share to the promoters and/or promoter group including individuals or corporate bodies or HUF or any non-promoters including NRIs or OCBs or FIIs or to any person resident in India or resident outside India through preferential allotment. 2.Increasing the permissible limit of NRI/OCB shareholding from 24% to 40%.

Dredging Corporation net profit up by 62.52%, operating income rise 48.5%

Visakhapatnam based Government undertaking, Dredging Corporation of India Ltd has reported a 62.52% growth in the net profits and a 48.5% increase in operating income for the quarter ended June 30, 2000. The company reported a net profit of Rs 170 million on a turnover of Rs 780.5 million as against Rs 104.6 million earned on turnover of Rs 525.6 million in JQ 99. Other income decreased from Rs 51 million in JQ 99 to Rs 45 million in JQ 2000. The tax provision increased substantially from Rs 51.5 million in JQ 99 to Rs 76 million provided in JQ 2000.

Castrol India to phase out manufacturing activities at Wadala

Castrol India Ltd. has informed the BSE that, manufacturing has become an unviable activity at the company's Wadala Plant due to restrictive space and layout, coastal regulations zones/rules restricting constructions and several other operational hazards. It was therefore decided to phase out the manufacturing at Wadala Plant and offer a VRS, which has been opted by all the workmen. The Wadala unit will however continue to house the company's R & D Centre and certain corporate functions.

Bhatinda Chemicals to issue equity shares on preferential basis

The Board of Directors of Bhatinda Chemicals Ltd. has decided to issue further equity shares to the extent of 44,00,000 equity shares of Rs.10/- each at par on preferential basis to Individuals, Promoters, the relatives and Associates of Promoters, Corporate Bodies or various persons including existing share holders and other entities, subject to necessary approvals.

Goldstone Engineering to consider hiving off telecom division

Goldstone Engineering Ltd. at its meeting scheduled on July 17, 2000 will consider a proposal of restructuring the business of the company & to consider hiving off of Telecom Division as a separate entity with a strategic partner / investor.

Inditalia Refcon receives export order for providing internet solutions

Inditalia Refcon Ltd has received another export order for providing internet solutions worth US $ 980,000.

Spanco Telesystems to promote satellite communication services of HFCL group company

Spanco Telesystems & Solutions Ltd has entered into a strategic business relationship with HFCL Satellite Communications Ltd. (HFCL Group company) for promoting the PRIMENET Satellite Communication Services of HFCL Satellite Communications Ltd.

BSE imposes special margin on 4 scrips

BSE has imposed Special Margin in the under mentioned scrip as mentioned alongside with effect from Friday July 14, 2000. Sr No Scrip Code Scrip Name Scrip Group Special Margin Per Share (%) 1. 31194 MEWAR INDUSTRIES LTD B2 25% 2. 31980 SENTIL AGROTECH LTD B2 25% 3. 24470 SYNCOM FORMULATION (I) LTD B2 25% 4. 6041 MAHESH AGRO IMP & STE FOR LTD B2 25%

TV18 to take 60% stake in "Project Broadband", to dilute stake in e-Eighteen.Com

The Board of Directors of Television Eighteen India Ltd (TV18) will meet on July 18, 2000 to consider its unaudited financial results for the quarter ended June 30, 2000. The Board has added the following agenda that will also be discussed at the same meeting: 1. To consider & approve the investment of Rs 240 million for a 60% stake in a new company to be promoted by TV18 & also to approve the offering of the balance 40% stake to a financial investor. This new operation, tentatively called "Project Broadband", will create properties/brands in the television & Internet domains, ensuring a simultaneous delivery of content to TV viewers & Internet surfers. To consider & approve a capacity expansion plan for TV18 is required to create & supply content for Project Broadband. 2. To consider dilution in the equity of TV18's subsidiary viz. e-Eighteen.com Pvt Ltd, by the offer of 10% post dilution stake to a Venture Capital investor. 3. To consider & approve a proposal to take a strategic stake in an existing portal through TV18's subsidiary viz. e-Eighteen.com Pvt. Ltd.

STG's Software division completes World Bank Funded Project

Software Technology Group International Ltd in a press release issued has informed of having completed a World Bank-funded 100-man-month project styled as Indian Forestry Research Information System (IFRIS) for the Indian Council for Forestry Research and Education (ICFRE), Dehradun, UP. STG's usage of its well-documented and strictly followed ISO 9001 approved software delivery process has been instrumental in the success of this project, the release added. The company's software development division, having a stste-of-the-art design, development, delivery and maintenance facility, has established a quality management that is in compliance with the international quality standard, ISO 9001 and QS 9001. IFRIS is a complete research monitoring, planning and evaluation system for FRI. It consists of research information system, project monitoring and evaluation, project prioritisation, complete finance payroll and personnel information system and a complete administration system and a system for grants for research and education. STG has also successfully completed projects for the Delhi- based Oswal Chemicals and Fertilisers and for Kamla Dials of Chandigarh, claimed to be the country's largest Watch Dial manufacturer.

Polaris Software Q1 net profit rises 126%, Operating income up by 97%

Polaris Software Lab Ltd has announced a 125.59% growth in the net profits for the quarter ended June 30, 2000 on a 96.91% increase in operating income. The software major recorded a net profit of Rs 110.34 million as against Rs 48.91 million recorded for the same period in the previous year. The operating income for the quarter was Rs 519.37 million compared to Rs 263.76 million in JQ 99. Staff costs correspondingly grew 87.71% from Rs 151.69 million in JQ 99 to Rs 284.74 million in JQ 2000. Other income for the quarter stood at Rs 8.66 million (JQ 99 Rs 0.48 million). The operating profit was Rs 124.75 million, 116.33% higher compared to Rs 57.67 million in JQ 99. The company reported earnings (not annualised) of Rs 3.23 per share of Rs 5/- each. The company is in the process of setting up subsidiaries in Australia, Germany and Switzerland. The company got its accounts for the year ended March 31, 2000 audited under US GAAP standards by M/s KPMG.

Thomas Cook to consider incorporating subsidiary company in Srilanka

Thomas Cook Ltd has informed the BSE that the company is in the process of purchasing the entire issued and paid up equity share capital of Travel Corporation (India) Ltd from various shareholders of TCI. The contemplated transaction is subject to several conditions precedent including completion of satisfactory financial and legal due diligence and execution of satisfactory agreements. In the circumstances it cannot be said, whether the transaction would conclude or not. The company has also informed that the aforesaid item including calling of the EOGM if required shall be discussed at the Board Meeting to be held on July 19, 2000.

Thomas Cook to buy entire equity of Travel Corporation

Thomas Cook Ltd has informed the BSE that the company is in the process of purchasing the entire issued and paid up equity share capital of Travel Corporation (India) Ltd from various shareholders of TCI. The contemplated transaction is subject to several conditions precedent including completion of satisfactory financial and legal due diligence and execution of satisfactory agreements. In the circumstances it cannot be said, whether the transaction would conclude or not. The company has also informed that the aforesaid item including calling of the EOGM if required shall be discussed at the Board Meeting to be held on July 19, 2000.

NIIT June quarter net profit up by 27.94%

Software & Education major NIIT Ltd has posted a net profit of Rs 780.2 million for the quarter ended June 30, 2000 as compared to Rs 609.80 million in JQ 99. The net sales for the quarter ended June 30,2000 are up by 33.87% at Rs 2019.10 million as compared to Rs 1508.2 million in JQ 99. Other income for the quarter ended June 30, 2000 is at Rs 23.40 million as compared to Rs 30.30 million in JQ 99.

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