Market News
- Megasoft fixes Book Closure for Dividend & AGM
- 3i Infotech - Allotment of equity shares under ESOS
- Videocon Appliances Board recommends dividend
- Trend Electronics Board recommends dividend
- Panacea Biotec - Limited Review for the quarter ended Dec 31, 2007
- Nicholas Piramal - NPIL Research & Development Ltd commences Phase I trials on new molocule for metabolic disorders in Eu
- Hindustan Unilever Ltd - Increase in paid-up Capital
- Prajay Engineers - Allotment of equity shares on conversion of FCCBs
- Era Infra - Updates
- ITD Cementation Board to consider dividend
- Power Grid to replace Bajaj Auto in Nifty
- Infosys Technologies partners with ACDI/VOCA
- UB Engineering allots equity shares
- Jindal Saw recommends dividend
- HCL Infosystems allots equity shares
Megasoft fixes Book Closure for Dividend & AGM
Megasoft Ltd has informed that the Register of Members & Share Transfer Books of the Company will remain closed from June 01, 2008 to June 12, 2008 (both days inclusive) for the purpose of payment of dividend & 8th Annual General Meeting (AGM) of the Company to be held on June 12, 2008.
3i Infotech - Allotment of equity shares under ESOS
3i Infotech Ltd has informed that the Company has allotted 35,200 equity shares on February 25, 2008, to the applicants under Employee Stock Option Scheme (ESOS), 2000
Videocon Appliances Board recommends dividend
Videocon Appliances Ltd has informed that the Board of Directors of the Company at its meeting held on February 25, 2008, inter alia, has recommended 5% dividend i.e. Re 0.50 (Paise Fifty Only) per share for the financial year ended September 30, 2007 for the consideration and declaration by the members at the ensuing Annual General Meeting.
Trend Electronics Board recommends dividend
Trend Electronics Ltd has informed that the Board of Directors of the Company at its meeting held on February 25, 2008, inter alia, has recommended 5% dividend i.e., Re. 0.50 (Paise Fifty Only) per share for the financial year ended September 30, 2007 for the consideration and declaration by the members at the ensuing Annual General Meeting.
Panacea Biotec - Limited Review for the quarter ended Dec 31, 2007
Panacea Biotec Ltd has informed that in the limited review report of the Company for the quarter ended December 31, 2007, the Auditors of the Company have made the following observations:
· Redemption of outstanding amount of US $ 36,800,000 out of 'US$ 50 Million Zero Coupon Convertible Bonds due 2011' is due on February 14, 2011. Unless these Bonds have been previously converted, redeemed, repurchased and cancelled, Company will redeem these Bonds at a Price equal to 142.80% of the outstanding principal amount on the maturity date. Since the redemption of bonds is contingent upon its non-conversion into Equity Shares, the Company has not provided for the proportionate premium on redemption for the period upto March 31, 2007. The same was disclosed as a matter of emphasis in the Audited Annual Accounts as in the opinion of the management likelihood of redemption cannot presently be ascertained and the same was disclosed as a contingent liability. Similarly, proportionate premium on redemption of Rs 29,900,002 and Rs 87,851,543 for the three months and nine months ending December 31, 2007 respectively, has not been provided for.
· Annual audited accounts contained a matter of emphasis regarding capitalization of expenditure on clinical trials amounting to Rs 91,557,518 since the ultimate approval of such products, which has been considered as highly likely by the management, was not within the direct control of the entity. Likewise expenses of similar nature amounting to Rs 72,956,795 and Rs 160,597,381 for three months and nine months ending December 31, 2007 respectively have been capitalized in the books on similar grounds.
· In 2006, Government of India has promulgated an Act namely The Micro, Small and Medium Enterprises Development Act, 2006 which comes into force with effect from October 02, 2006. As per the Act, the Company is required to identify the Micro, Small and Medium suppliers and pay them interest on overdues beyond the specified period irrespective of the terms agreed with the suppliers. The Company is in the process of compiling information regarding measurement of interest liability prescribed by the Act. In view of the above, the Auditors are unable to comment upon the impact, if any, thereof on these accompanying results. Audited Accounts of immediate previous year contains a qualification in respect of an compliance of "The Micro, Small and Medium Enterprises Development Act, 2006".
Nicholas Piramal - NPIL Research & Development Ltd commences Phase I trials on new molocule for metabolic disorders in Eu
Nicholas Piramal India Ltd has informed that NPIL Research and Development Ltd ("NRDL") (name now changed Piramal Life Sciences Ltd) has commenced Phase I studies of a new experimental drug molecule, P1201-07, in The Netherlands.
In this regard the Company has issued the following Press Release:
"NPIL Research & Development Ltd (NRDL), recently demerged from Nicholas Piramal India Ltd (NPIL) has commenced Phase I studies of a new experimental drug molecule, P1201-07, in The Netherlands.
The Company had submitted the Clinical Trial Application (CTA) for P1201-07 to the Central Committee on Research involving Human Subjects (CCMO), the regulatory authority of The Netherlands and the Independent Ethics Committee of the foundation Evaluation Of Ethics in Biomedical Research (BEBO), Assen, The Netherlands. Both these bodies have approved the Company's application to initiate the Phase I study of P1201-07.
P1201-07 is an in compound from Eli Lilly & Co. (USA) and is being developed for metabolic disorders.
"This is our fourth new drug to enter the clinic and the first from the research collaboration with pharma major Eli Lilly. The drug development timeline is on schedule. We in-licensed this molecule from Lilly only in January 2007, and it has gone to the clinic in just a year", said Dr. Swati Piramal, Director -Strategic Alliances & Communications, NPIL."
Further the Company has inform that, it may be recalled that the Company (i.e. Nicholas Piramal) has demerged its NCE Research Unit to NRDL pursuant to the Composite Scheme of Arrangement which has been sanctioned by the Hon'ble Bombay High Court. The Record Date for issue of shares by NRDL to the shareholders of the Company under the said scheme was February 22, 2008. The shares of NRDL would be listed on the BSE and NSE in accordance with the Scheme.
Hindustan Unilever Ltd - Increase in paid-up Capital
Hindustan Unilever Limited has informed regarding the details of the increase in the Paid-up Capital of the Company as under:- Authorised Capital - Rs. 2,25,00,00,000; Existing Paid-up Capital - 217,74,63,355 Equity share of Re. 1 each; Shares allotted/increased by - 2,66,198 Equity share of Re. 1 each; Revised Paid-up Capital - 217,77,29,553 Equity share of Re. 1 each. The existing Issued capital - 220,76,99,127 Equity share of Re. 1 each; Shares allotted/increased by - 2,66,198 Equity share of Re. 1 each; Revised Issued capital - 220,79,65,325 Equity share of Re. 1 each. The difference between issued capital and paid up capital is due to the Buy back made from open Market as per Special Resolution passed through Postal Ballot on September 14,2007. The total number of shares bought back under the Scheme were 3,02,35,772. The new shares rank pari passu in all respects with the existing capital. Further, the Committee of the Board, at its meeting held on February 22, 2008, has allotted 2,66,198 Equity Shares of Re. 1/- each under ESOP. Therefore, the paid-up capital of the Company has increased to 217,77,29,553 shares & the Issued capital has increased to 220,79,65,325 shares.
Prajay Engineers - Allotment of equity shares on conversion of FCCBs
Prajay Engineers Syndicate Ltd has informed that the Company at its Allotment Committee Meeting held on February 25, 2008 allotted 76,02,315 equity shares to the following entities on conversion of 3405 Foreign Currency Convertible Bonds.
- Name of the Shareholder: Goldman Sachs International No of Shares Allotted: 223269
- Name of the Shareholder: Deutsche Bank AG London No of Shares Allotted: 223269
- Name of the Shareholder: CLSA (Mauritius) Ltd No of Shares Allotted: 1361942
- Name of the Shareholder: Lehman Brothers Intl Europe No of Shares Allotted: 457701
- Name of the Shareholder: RBC Dexia Investor Services Trust No of Shares Allotted: 5336134.
Era Infra - Updates
Era Infra Engineering Ltd has informed that Company's Construction & Contract division, in joint venture with KMB, Ukraine has been awarded the work of "Expansion and Modification to Terminal Building for International Operation at C E Pune" by "Air Ports Authority of India" on February 25, 2008 valuing "Rs 77,91,57,986". The contract duration is 7.5 months.
ITD Cementation Board to consider dividend
ITD Cementation India Ltd has informed that a meeting of the Board of Directors of the Company will be held on March 07, 2008, to consider the Annual Accounts and recommend dividend, if any for the year ended December 31, 2007.
Power Grid to replace Bajaj Auto in Nifty
The National Stock Exchange (NSE) has included Power Grid Corporation of India in place of Bajaj Auto its 50-share S&P CNX Nifty index. The change will take effect from 14 March 2008, the day when a demerger scheme of Bajaj Auto takes effect.
Infosys Technologies partners with ACDI/VOCA
Infosys Technologies partnered with ACDI/VOCA, a non-profit international development organization that promotes broad-based economic growth, to develop an information and communication technology (ICT)-enabled application that would improve efficiencies in the agro supply chain in India. The solution successfully minimizes inventory requirements, reduces waste and allows retailers and farmers to be better integrated.
This application falls under ACDI/VOCA's growth-oriented Microenterprise Development Program (GMED), which is a $6.3 million, USAID-funded Initiative. GMED is an innovative program that develops sustainable and scalable approaches to job creation by fostering the growth of micro and small enterprises.
The application tackles supply chain management from profiling of farmer clusters to crop planning, scheduling, tracking and forecasting. The application allows farmers to access technical information including database searches for data and images, access to region- specific weather updates and market information, i.e., daily sales volumes and average prices. The application can handle several thousand concurrent users and yet ensures that data is secure through data-encryption mechanisms. There are 1,700 small holder farmers currently integrated into organized retail supply chains through this application, thereby bridging the urban-rural agricultural divide. Over the next five to eight years, the usage is expected to increase to a million farmers.
Infosys has built the solution consisting of wireless software applications that are accessible on handheld devices, enabling agents to address Information gaps constraining vegetable and fruit farmers and enabling other supply chain participants to monitor and control the back-end and front-end supply chain functions. The application also enables wholesaler/retailer or other intermediaries to optimize cost by allowing large procurement, efficient transportation management and enabling intelligent crop production management.
The solution is built on Infosys TruSync, a context-aware, client-server solution that is designed for situations with limited or no network availability and allows for peer-to-peer (p2p) synchronization between field agents without connecting to a central server.
The company made this announcement during the trading hours today, 26 February 2008.
UB Engineering allots equity shares
The committee of UB Engineering has allotted 47,40,819 equity shares of Rs 10 each for cash at a price of Rs 126 per equity share aggregating to Rs 59,73,43,194 to the shareholders as on the record date on rights basis.
Consequent upon the allotment of equity shares to the aforesaid shareholders on rights basis, the total issued and paid up capital of the company stands increased to Rs 17,06,69,490 divided into 1,70,66,949 equity shares of Rs 10 each.
These shares were allotted at the committee meeting held on 26 February 2008.
Jindal Saw recommends dividend
The board of Jindal Saw has recommended dividend at the rate of Rs 6.25 per share for the 15 months period ended 31 December 2007.
This was recommended at the board meeting held on 26 February 2008.
HCL Infosystems allots equity shares
The committee of HCL Infosystems has allotted 26660 equity shares of Rs 2 each to the employees on exercise of their stock options under HCL Infosytems ESOS 2000.
These shares were allotted by the committee of directors on 25 February 2008.
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