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Archive for the ‘News’ Category

Bank of Baroda - Annulment of forfeiture of shares

Friday, July 18th, 2008

Bank of Baroda has informed BSE that:

“We advise that following - 100 - Equity shares have been annulled by our Bank pursuant to the Regulation 35 of General (Shares and Meetings) Regulations, 1998 :

- Folio No. BBE000172
- Name : Manmohan Singh Monga
- No. of Shares : 100
- Distt. Nos. : 203554401-203554500.

With the aforesaid annulment of -100- Equity shares, the paid up share capital of the Bank has increased to Rs 364,26,65,000/- (No. of Shares - 36,42,66,500) as on July 17, 08“.

Satyam Computer announces Q1 results

Friday, July 18th, 2008

Satyam Computer Services Ltd has announced the following Audited results for the quarter ended June 30, 2008:

The Company
has posted a profit after taxation of Rs 5759.10 million for the quarter ended June 30, 2008 as compared to Rs 3891.40 million for the quarter ended June 30, 2007. Total Income has increased from Rs 18209.30 million for the quarter ended June 30, 2007 to Rs 25565.20 million for the quarter ended June 30, 2008.

The Unaudited Consolidated results as per Indian GAAP are as follows:

The Group has posted a Profit after taxation & minority interest as per Indian GAAP of Rs 5477.00 million for the quarter ended June 30, 2008 as compared to Rs 3783.20 million for the quarter ended June 30, 2007. Total Income has increased from Rs 18933.90 million for the quarter ended June 30, 2007 to Rs 26539.50 million for the quarter ended June 30, 2008.

The Unaudited Consolidated results as per US GAAP are as follows: (US $ million)

The Group has posted a Net Income of $ 126.6 million for the quarter ended June 30, 2008 as compared to $ 93.1 million for the quarter ended June 30, 2007. Revenues have increased from $ 452.3 million for the quarter ended June 30, 2007 to $ 637.3 million for the quarter ended June 30, 2008.

Wipro - Business Outlook

Friday, July 18th, 2008

Wipro Ltd has announced the following Outlook for the Quarter ending September 30, 2008:

Azim Premji, Chairman of , commenting on the results said - “We have had another satisfying quarter. Revenues from our IT Services were $ 1,067 million for the quarter, ahead of our guidance of $ 1,060 million. In the backdrop of significant economic uncertainty, our Financial Services and Retail businesses demonstrated their resilience. We had strong growth in our differentiated Service lines like Testing, TIS and BPO. Our strategy of focusing on MEGA/GAMA accounts is delivering results with top customers growing ahead of Company average. We improved on several of operational parameters during the quarter.

Given the environment, we remain cautious in the near-term. Looking ahead, for the quarter ending September 2008, we expect our Revenue from our IT Services business to be approximately $1089 million.”

Suresh Senapaty, Chief Financial Officer of , said -

“During the quarter ended June 2008, we were able to sustain margins in spite of Restricted Stock Units grants. Rate Realization and Utilization improved sequentially by 300 basis points and 50 basis points respectively. We have won 7 multi-year multi-million dollar deals and added 31 new customers during the quarter. We added another customer to our $100 million customer list.”

Centrum Capital - Change in Directorate

Friday, July 18th, 2008

Centrum Capital Ltd has informed BSE about the following changes in the Board of Directors of the Company, by the circular resolution passed by Board of Directors of the Company on
July 16, 2008 :

1. Acceptance of resignation of Mr. Rajesh Nanavaty.

2. Approval of appointment of Mr. Dhanpal Jihaveri as an additional director on the Board of Directors of the Company.

3. Approval of appointment of Mr. Sameer Sain as an additional director on the Board of Directors of the Company.

Ansal Properties clarifies on news item

Friday, July 18th, 2008

With reference to the news item appearing in a leading financial daily titled “Ansal to offload 16% stake in Greater Noida project”, Ansal Properties & Infrastructure Ltd has clarified to BSE that the news about Company’s strategic stake sale of 15% or more to any investor for Rs 1900 crores is not the factual position. Further, any other details attributable to the Company, with regard to the said project and not in consonance with the earlier announcements given to Stock Exchanges in this regard, from time to time, are incorrect and hereby denied.

Deal India - Board Meeting on Jul 18, 2008

Friday, July 18th, 2008

Deal India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 18, 2008, inter alia, to consider and approve the following:

1. Appointment of Mr. Vashudev Bhagnani as Managing Director of the Company.

2. Resolution under section 293(1)(d) of Companies Act, 1956.

3. Change in the name of Company.

4. Alteration of the Object clause of the Memorandum of Association of the Company.

5. Increase the Authorised share capital of the Company.

6. Voluntary Delisting of Shares from Ahmedabad Stock Exchange.

i-flex Solutions - Q1 results on Jul 25, 2008

Friday, July 18th, 2008

i-flex Solutions Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 25, 2008, inter alia, to consider the following:

1. To adopt audited un-consolidated Indian GAAP Accounts for the quarter ended June 30, 2008 (Q1).

2. To consider allotment of shares to the eligible employees / directors who have chosen to exercise their options under Employees Stock Option Scheme (ESOP), 2002 of the Company.

onsanto India - Change in Directorate

Friday, July 18th, 2008

Monsanto India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 17, 2008, inter alia, has taken the following decisions:

1. Resignation of Mr. Mark Martino as Director from the Board of Directors of the Company w.e.f. July 17, 2008.

2. Appointment of Mr. Brad Huseman as Director of the Board of Directors of the Company w.e.f. July 17, 2008 to fill the casual vacancy caused by the resignation of Mr. Mark Martino.

Kilburn Engineering - Updates

Friday, July 18th, 2008

Kilburn Engineering Ltd has informed BSE about the following:

“The Company has entered into a MOU on July 16, 2008 with Conwood Pre-Fab Ltd, Goregaon (E), Mumbai - 400 063 for purchase of Land admeasuring about 8 acres at Dhamangaon near Mumbai, on the Mumbai-Nasik Highway at a consideration of Rs 15.90 crores (Rupees Fifteen Crores Ninety Lacs only). The Company will set up state-of-the-art manufacturing facility at this location. The said project is expected to be operational by end 2009.

Pursuant to the MOU between the Company and Housing Development & Infrastructure Ltd (HDIL) for sale of 8.32 acres of the Company’s Land at Bhandup, Mumbai, the Company’s planned shifting of its manufacturing operations from Bhandup to new locations at Mulund, Mumbai and Taloja, near Mumbai have been completed. After completion of the project as stated above, manufacturing operations from Mulund and Taloja will be permanently shifted therein.”

Aksh Optifibre - Outcome of Board Meeting

Friday, July 18th, 2008

Aksh Optifibre Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 14, 2008, has by virtue of powers conferred to it by the shareholders in their meeting held on December 06, 2007, modified the terms of conversion of Convertible Warrants, issued by the Company on January 15, 2008.

The terms have been modified to the effect that the Warrants issued by the Company can be converted into equity shares at any time within 18 months from the date of their allotment at the option of the Warrant holder as against the earlier condition that at least 50% of the warrants were to be converted into equity shares within 6 months from the date of allotment and the remaining 50% were to be converted within 18 months from the date of allotment.