Geometric Software management expects lower growth in SQ 2000 results

The management of Geometric Software Solutions Co Ltd. announced today (October 10, 2000) that as sales are significantly below plan and fixed costs have risen due to its Hinjewadi Pune facilities being fully commissioned the operating results for the quarter ending September are expected to be well below management's expectations. The management is seized of the situation and has re-organised its sales and marketing function. Mr Dick Miller CEO of its US sales subsidiary has resigned wef September 30, 2000 and Mr Manu Parpia Managing Director has taken over this function. The company is continuing its strategy of moving into new markets both in terms of customers and new business areas. In this context it won a contract with an aerospace major and expects to sign a number of OEM agreements for its proprietary feature recognition technology and its Geometric Tools product in the quarter ending December 2000.

Compudyne Winfosystems Q2 net profit at Rs 18.09 million

Compudyne Winfosystems Ltd. has posted a net profit of Rs 18.09 million for the quarter ended September 30, 2000 as compared to Rs 4.49 million for the quarter ended September 30, 99. Net sales for the quarter ended September 30, 2000 are at Rs 57.09 million as compared to Rs 12.02 million in September 30, 99. Other income has increased from Rs 0.29 million in SQ 99 to Rs 3.91 million in the quarter ended September 30,2000.

Satyam Computer Q2 net profit at Rs 669.43 million

Satyam Computer Services Ltd. has posted a net profit of Rs 669.43 million for the quarter ended September 30,2000 as compared to Rs 307.41million for the same period last year. Net sales have grown by 73.76 % in the quarter ended September 30, 2000 as compared to SQ 99. The net sales for the quarter ended September 30, 2000 are at Rs 2724.87million as against Rs 1568.16 million in SQ 99. Other income for the quarter ended September 30, 2000 is at Rs 114.36 million as compared to Rs 7.09 million in the same period last year. Other Income of Rs 114.36 million for the quarter ended September 30,2000 includes an amount of Rs 94.07 million from realised and unrealised gains due to foreign currency fluctuation. The Board of Directors has recommended an interim dividend of Rs 0.36 per share (18% on par value of Rs 2 per share). The record date for payment of dividend will be December 1st 2000.

Finolex Industries FY 2000 net profit up by 17.16%

Finolex Industries Ltd. has posted a net profit of Rs 562.44 million for the financial year ended July 31, 2000 as compared to Rs 480.06 million in FY 99. Net sales for the year ended July 31, 2000 is at Rs 7788.42 million as compared to Rs 6390.07 million in the same period last year. Other income has increased from Rs 86.51 million in FY 99 to Rs 137.97 million in the financial year ended July 31, 2000. The company paid interim dividend of 15% in May 2000. The interim dividend will be treated as final dividend for the year. The equity shares of the company are in compulsory demat wef May 08, 2000.

BSE imposes special margin on Galaxy Entertainment

BSE has imposed Special Margin of 25% on Galaxy Entertainment Corporation Ltd. having scrip code no 6186 with effect from Tuesday, October 10, 2000

BSE to shift 2 scrips to Z group

BSE has decided to shift the undermentioned securities to 'Z' Group with effect from Wednesday, October 11, 2000. 1) Essar Teleholdings Ltd. (Scrip Code: 23267)(formerly Sterling Computers Ltd.) 2) Sanwaria Agro Oils Ltd. (Scrip Code: 19260)

Spanco Telesystems enters into MOU with Wireless Inc

Spanco Telesystems & Solutions Ltd has entered into MoU dated 05.10.2000 with Wireless Inc, USA for providing Fixed Wireless Broadcast Access market in India.

Nath Pulp & Paper turns sick

Nath Pulp & Paper Mills Ltd. has informed BSE that, the net worth of the company has been fully eroded based on the balance sheet prepared as on June 30,2000 which was adopted in the Board Meeting of August 26,2000. The Board has formed the opinion that the company has become a sick company in terms of SICA, 1985.

Jammu & Kashmir Bank Q2 net profit up by 51.15%

Jammu & Kashmir Bank Ltd. has posted a net profit of Rs 402.20 million for the quarter ended September 30, 2000 as compared to Rs 266.10 million for the quarter ended September 30, 99. Interest earned for the quarter ended September 30, 2000 is at Rs 2494.80 million as compared to Rs 2026.90 million in SQ 99. Other income has increased from Rs 262.60 million in SQ 99 to Rs 289.80 million in the quarter ended September 30, 2000.

Hero Honda Q2 results on October 20, 2000

A Board meeting of Hero Honda Motors Ltd is scheduled to be held on October 20, 2000 to consider and take on record the unaudited financial results for the quarter ended September 30, 2000.

Kochi Refineries fixes record date for Bonus issue

Kochi Refineries Ltd. has informed BSE that the company has fixed the record date as December 01, 2000 for the purpose of issue of Bonus shares. The shareholders at the AGM held on September 27, 2000 have approved issue of Bonus shares in the proportion of One new equity share for every one existing fully paid equity share held.

Koninklije Philips Electronics NV to acquire 23% of Philips India equity at Rs 105/- per share

DSP Merill Lynch on behalf of Koninklijke Philips Electronics N V,(KPNEV) a company registered under the laws of Netherlands is making a voluntary offer to acquire 1,04,72,671 fully paid up equity shares of Rs 10/- each representing 23% of the outstanding equity share capital of Philips India Ltd. at a price of Rs 105/- per fully paid up equity share payable in cash. KPNEV currently holds 2,32,22,009 fully paid up shares of Rs 10/- each representing 51% of the outstanding equity share capital of Philips India Ltd. The specified date (for the purpose of determining the names of shareholders to whom the letter of offer would be sent) is fixed as October 13,2000. The date of opening of the offer November 13,2000 and the date of the closure of the offer December 12,2000.

Infosys Technologies Q2 net profit up by 134.38%, sales up by 114.16%, declares interim dividend of Rs 2.50 per share

Infosys Technologies Ltd. has posted a net profit of Rs 1540.10 million for the quarter ended September 30,2000 as compared to Rs 657.10 million for the same period last year. Net sales have grown by 114.16 % in the quarter ended September 30, 2000 as compared to SQ 99. The net sales for SQ 2000 is at Rs million 4461/- as against Rs 2083/- million in SQ 99. Other income for the quarter ended September 30, 2000 is at Rs 195.70 million as compared to Rs 95.80 million in the same period last year. The Board has recommended an interim dividend of Rs 2.50 per share (50% on an equity share of par value of Rs 5/-) has been declared at the board meeting held today (October 10,2000). The record date for the aforesaid dividend is fixed as November 10, 2000. The Board co-opted Prof Jitendra Vir Shah Vice Dean International Academic Affairs Wharton School University of Pennsylvania as an Additional Director of the company wef October 10, 2000. Prof Jitendra Vir Singh will hold office upto the date of next Annual General Meeting when his appointment as a Director will be placed for the approval of the members in general meeting.

NIIT & Apollo in strategic tie-up for MedVarsity

MedVarsity (www.medvarsity.com) India's first Virtual Medical Varsity was launched on October 09, 2000. A joint venture between Apollo Hospitals Group and NIIT Ltd, MedVarsity, will provide web-based e learning to medical students, as well as continuing medical education to practising healthcare providers. MedVarsity will be a comprehensive and interactive medical e learning platform offering a virtual medical college that would complement the current medical education infrastructure in the country. The site will also offer online examination support to students, an exhaustive virtual medical library and specific programmes in continuing medical education to practitioners. The first section to go online the site, MedVarsity's examination module, will offer support to medical graduates preparing for their post graduate exams. Students will be provided with self-assessment and feed back modules and a question bank for the medical entrance examinations with over 60,000 questions in its reserve. Knowledge base of students undergoing medical undergraduate and postgraduate studies is critical and currently not adequately addressed. This varsity will complement the medical education being provided and will help bring standards of excellence to learning and preparation. MedVarsity aims to target 100,000 students spread across over 160 institutes and 400,000 practitioners in the medical profession. These modules will be accessible to the users either through subscription or on a pay-per use basis.

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