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Vikas WSP stock split decided in the ratio of 10:1

The Board of Directors of Vikas WSP Ltd has decided to split the face value of the company' shares from the existing Rs 10/- per share to Re 1/- per share. The decision is subject to the approval of the shareholders of the company. Accordingly the Board has proposed to alter the company's Memorandum of Articles. The EGM of the company will be held on August 10, 2000 to get the approval of the shareholders for the same.

Hindustan Inks Board to consider Bonus Issue

The Board of Directors of Hindustan Inks and Resins Ltd will meet on July 25, 2000 to consider the company's financial results for the quarter ended June 30, 2000. At the same meeting the Board will also consider issue of Bonus shares to the members of the company.

Boston Education posts net profit of Rs 5.13 million in Q1

Boston Education and Software Technologies Ltd has posted a net profit of Rs 5.13 million for the quarter ended June 30, 2000 as against a loss of Rs 2.94 million incurred for the same period last year. Sales for the quarter grew 78.415 from Rs 30.49 million in JQ 99 to Rs 54.4 million in JQ 2000. The company has allotted 30,12,000 equity shares of Rs 10/- each to the shareholders of erstwhile Boston Education & Software Pvt. Ltd on April 11, 2000 pursuant to the scheme of amalgamation approved by High Court, Bombay.

Goldstone Technologies Q4 net profit rises 70%, up by 51.86%

Goldstone Technologies Ltd has reported a net profit of Rs 23.3 million for the quarter ended June 30, 2000 as against Rs 13.7 million for the same period in the previous year. Sales for the quarter were Rs 142.6 million as compared to Rs 93.9 million in JQ 99. The sales comprised Rs 52.8 million (JQ 99 Rs 88.9 million) from Telecom operations and Rs 89.8 million (JQ 99 Rs 5 million) from software operations. The company has made preferential offer of 600,000 shares of RS 10 each at a premium of Rs 190 per share to FII's and Mutual Funds.

Reliance Capital clarifies its status about insurance foray

Reliance Capital Ltd has clarified to the Bombay Stock Exchange regarding some news reports appearing in a financial daily about its plans on Insurance foray. The company has from time to time had various plans under consideration including a possible investment in Insurance business, depending upon regulatory and other aspects/approvals. However, as on date the company has not taken any final decision on the same.

Philips India net loss at Rs 34.9 million, sales at Rs 3648 million

Philips India Ltd declared its second quarter results for the current year 2000. Sales turnover at Rs 3621 million was lower than corresponding period in 1999 (Rs 4327 million). A slowdown in sales has significantly affected the operating margins. The pre-tax loss for the quarter was Rs 74 million compared to a loss of Rs 119 million in the first quarter of 2000 and was a direct consequence of the fall in revenue. The pre-tax loss for the January-June 2000 half year was Rs 193 million compared to a profit of Rs 54 million in the corresponding period of 1999. The company does not expect a sharp turnaround in the second half of the year. Restructuring charges will further impact profitability in the second half of the year, a release issued by the company stated. The management believes that the ongoing restructuring programme is not only necessary but also critical to secure long term cost competitiveness. It was announced in April this year that the company has undertaken a number of measures to deliver longer term sustainable results. Some of these measures have been implemented and others are in the process of implementation. The company expects that the impact of these measures will be felt commencing in the early part of 2001.

Cadbury India Q2 net profit up by 88.4%, sales up by 13.37%

Cadbury India Ltd has reported 88.4% growth in the net profits and a 13.37% increase in the net sales for the quarter ended June 30, 2000. The confectionery major has recorded a net profit of Rs 86.1 million on a turnover of Rs 1070.8 million. The net profit of the company was Rs 45.7 million on a turnover of Rs 944.5 million in JQ 99. However other income in June Quarter last year included non-recurring income of Rs 22. 5 million. The company has adjusted tax of earlier years of Rs 14.7 million during the JQ 2000. The net profit excluding the aforesaid tax adjustment for the quarter was Rs 71.4 million as against Rs 50.7 million reflecting a growth of 40.83%. The tax for the quarter was Rs 42.9 million as against Rs 30.6 million in JQ 99. The company has entered into a memorandum of understanding on July 5, 2000 to sell its immovable property at Colaba , Mumbai for a consideration of Rs 80 million. The sale is subject to the prior approval of the appropriate authority under chapter XX-C of the Income Tax Act 1961 and the same is not accounted in the results as summarised above.

Silverline Technologies Ltd Q1 net profit up by 91.25%, revenues up by 79.5%

Silverline Technologies Ltd the first Indian IT company to be listed on the NYSE has reported a 79.5% increase in revenues and a 91.25% increase in the net profits for the quarter ended June 30, 2000. The company reported a net profit of Rs 278 million for first quarter ended June 30, 2000 as against Rs 1454 million reported for JQ 99. The revenues at Rs 1452 million were Rs 643 million higher compared to Rs 809 million recorded in JQ 99. The operating income increased 91.38% to Rs 343 million. The company had a onsite:offsite revenue mix of 68.36:31.64 for the quarter ended June 30, 2000. On a sequential quarter analysis (Jan-March 2000 v/s Apr- June 2000) the revenues increased 6%, operating income went up 5% and the net income grew by 7%. The company added 15 new customers during the quarter ended June 30, 2000 and its dependence on top two customers reduced from 46% in full year 1999 to 30% in April- June 2000. Overall 27 new customers were added in January- June 2000.

Revathi-CP Equipment Q1 net profit up by 29.55%

Revathi-CP Equipment Ltd. has posted a net profit of Rs 37.70 million for the quarter ended June 30, 2000 as compared to Rs 29.10 million in JQ 99. The net sales for the quarter ended June 30, 2000 are up 4.39% at Rs 175.80 million. Other income for the quarter ended June 30, 2000 is at Rs 3.30 million (JQ 99 Rs 2.10 million).

Hitech Drilling Q1 net down by 61%

Hitech Drilling Ltd. has posted a net profit of Rs 37.60 million for the quarter ended June 30, 2000 as compared to Rs 96.40 million in JQ 99. The net sales for the quarter ended June 30, 2000 are down by 25.01% at Rs 259.70 million Other income for the quarter ended June 30, 2000 is at Rs 8.50 million (JQ 99 Rs 13.70 million).

Jindal Iron Q1 net profit up by 13.89%

Jindal Iron & Steel Company Ltd. has posted a net profit of Rs 24.60 million for the quarter ended June 30, 2000 as compared to Rs 21.60 million in JQ 99. The net sales are up by 29.03% at Rs 3422.70 million Other income has risen from Rs 6.30 million in JQ 99 to Rs 21/- million in JQ 2000.

Kochi Refineries Q1 net profit down by 62.79%

Kochi Refineries Ltd. (formerly known as Cochin Refineries Ltd.) has posted a sharp fall in net profits for the quarter ended June 30, 2000. The net profit has fallen from Rs 215 million in JQ 99 to Rs 80 million for the quarter ended June 30, 2000. The net sales for the quarter ended June 30, 2000 are up by 33.68% at Rs 15713 million. Other income has risen from Rs 174.10 million in JQ 99 to Rs 190/- million for the quarter ended June 30, 2000.

Sun Pharmaceutical Q1 net profit up by 55.07%

Sun Pharmaceutical Industries Ltd. has posted a net profit of Rs 310.60 million for the quarter ended June 30, 2000 as compared to Rs 200.30 million in JQ 99. The net sales for the quarter ended June 30, 2000 are up by 28.88% at Rs 1326.60 million as compared to Rs 1029.30 million in JQ 99. Other income has risen from Rs 3.70 million in JQ 99 to Rs 4.90 million in the quarter ended June 30, 2000 Sun Pharmaceuticals Exports Ltd. a 99.28% Subsidiary of the Company is proposed to the merged with the company effective 1st April 2000 subject to the approval of shareholders and Honble High Court of Gujarat. Sales figures for corresponding quarter of the previous year do not include domestic bulk drug sale Rs 61.30 million of erstwhile Gujarat Lyka Organics Ltd.

Lakhanpal National Q1 net profit down by 44.83%

Lakhanpal National Ltd. has posted a net profit of Rs 9.60 million for the quarter ended June 30, 2000 as compared to Rs 17.40 million in JQ 99.The net sales for JQ 2000 are up by 5.81% at Rs 453.30 million. Other income has risen from Rs 3.30 million in JQ 99 to Rs 3.70 million in JQ 2000.

Raajratna Metal to buy back equity shares at maximum price of Rs 60/- per share

The Board of Directors of Raajratna Metal Industries Ltd. at its meeting held on July 15, 2000 to buy back 8,90,800 equity shares of Rs 10/- each fully paid at a price not exceeding Rs 60/- per share.

Gabriel India Q1 net profit up by 69.12%

The Board of Directors of Gabriel India Limited, in its meeting today, (July 17, 2000) has taken on record the unaudited Quarterly Results of the Company for the quarter ended 30th June 2000. During the period under review, the Company's overall performance has further improved; with sales at Rs 652.20 million, which are 16.49% higher than the corresponding period in the previous year. Gross profit after interest but before depreciation & taxation at Rs 39.9 million, reflects an increase of 20% compared to the corresponding period of the previous year. Net profit after tax is Rs 11.5 million compared to a profit of Rs 6.80 million i.e. registering an increase of 69.12 % over the same period in the previous year. The improved performance of the Company has been due to strong presence of the Companys Ride Control Products in OEM segment, particularly new generation cars & two wheelers & also in aftermarket. The Companys achievement in operational improvements including efficient working capital management, focus on R&D & cost reduction in all areas of business, have also contributed to this performance. Gabriel India continues to maintain its market leadership for Ride Control Products-shock absorbers, struts & Front Forks. The Companys Kayaba Project, being set up to cater to Maruti Suzuki's strut requirement, is making steady progress & the Company hopes to commence supplies in October, 2000.

Bajaj Auto denies having made any offer to GOI for buying its stake in Maruti

With reference to the news item appearing in 'The Economic Times' dated July 14, 2000 regarding Bajaj Auto Ltd. acquiring 49% in Maruti Udyog Ltd. (MUL) the company has mentioned the following to the Bombay Stock Exchange. To the best of our knowledge Government of India has not yet taken a decision to disinvest its stake in MUL. In fact at their meeting on disinvestment held on June 23, 2000 MUL was among the corporates whose disinvestment decision had been deferred for the time being by the Govt. of India. In the circumstances, there is no question of Bajaj Auto Ltd. having made any offer to the Govt. of India its stake in MUL. Bajaj Auto Ltd. has also mentioned at the appropriate time and a reasonable price, if we can acquire 50% or more stake in MUL Bajaj Auto may consider this. This will also depend on Suzuki's view regarding this matter. The company has also added that the price mentioned in The Economic Times i.e. Rs 4000 crores for a stake of 49% is too high a price, specially in the present circumstances.

Jay Bharat Maruti Q1 net profit down by 13.82%

Jay Bharat Maruti Ltd. has posted a net profit of Rs 10.14 million for the quarter ended June 30,2000 as compared to Rs 11.76 million in JQ 99. The net sales for the quarter ended June 30, 2000 are up by 37.03% at Rs 451.43 million. Other income has fallen from Rs 1.61 million in JQ 99 to Rs 1.14 million in JQ 2000.

Morepen Lab JQ net profit up by 119.35%

Morepen Laboratories Ltd. has posted a net profit of Rs 204 million for the quarter ended June 30,2000 as compared to Rs 93 million in the quarter ended June 30, 99. The total income for JQ 2000 is up by 50.28% at Rs 1067 million as compared to Rs 710/- million in JQ 99. The outstanding performance of Morepen Laboratories is due to the recent export of Loratadine as part supply of an order of 20 million US dollars from Europe. The company has also re-paid the debts to the tune of Rs 1 billion to financial institutions and banks in the first quarter.

Hero Honda Motors Q1 net profit up by 59.48%, sales grow 57.27%

Hero Honda Motors Ltd has announced a growth of 59.48% in the net profits for the first quarter of the FY 2000-2001. The company recorded a net profit of Rs 603 million on operating income of Rs 7282.6 million. The company had recorded a net profit of Rs 378.1 million and a turnover of Rs 4630.7 million in same period of the FY 1999-2000. The Other income for the quarter was Rs 76.9 million as against Rs 48.3 million in JQ 99. The tax provided for the quarter was also higher at Rs 314.5 million compared to Rs 197.9 million for JQ 99. The company reported an EPS of Rs 15.10 for the quarter as against Rs 9.47 in JQ 99.

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