MIC Electronics Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 19, 2008, to consider and to decide the sub-division of face value of an equity share of Rs 10/- each of the Company into 5 equity shares of Rs 2/- each and amendment of Capital clause of Memorandum of Association consequent to subdivision of shares, subject to the approval of the Shareholders.
May 9, 2008
Indiabulls Real Estate - Acquisition of 100% ordinary shares of Dev Property Development Plc. by Indiabulls Real Estate Ltd
Indiabulls Real Estate Ltd has informed BSE that in continuation of the intimation sent by the Indiabulls Real Estate Ltd ("Company") on February 28, 2008 and May 07, 2008 in relation to the proposed investment and / or purchase of up to 100% of the ordinary shares in Dev Property Development Plc. ("DPD Shares") an Isle of Man registered Company listed on the London Stock Exchange's AIM ("DPD"), by issuance of new ordinary shares of the Company ("New IBREL Shares") represented by Global Depository Receipts ("GDRs") listed on the Luxembourg Stock Exchange's Euro MTF. The proposed investment and/or purchase of the DPD Shares by issuance of GDRs was to be implemented by way of a court approved scheme of arrangement under section 152 of the Isle of Man Companies Act 1931 ("Scheme").
Further the Company has informed that as informed earlier, the relevant court under the Isle of Man Companies Act 1931 has sanctioned the Scheme on May 07, 2008 and accordingly approved the acquisition of 100% ordinary shares of DPD by the Company.
Kotak Mahindra Bank announces Q4FY08 Results
Kotak Mahindra Bank Ltd has announced the following results for the quarter & year ended March 31, 2008:
The Unaudited results for the Quarter ended March 31, 2008
The Bank has posted a net profit of Rs 692.08 million for the quarter ended March 31, 2008 as compared to Rs 372.59 million for the quarter ended March 31, 2007. Total Income has increased from Rs 5210.68 million for the quarter ended March 31, 2007 to Rs 8030.21 million for the quarter ended March 31, 2008.
The Audited results for the Year ended March 31, 2008
The Bank has posted a net profit of Rs 2939.33 million for the year ended March 31, 2008 as compared to Rs 1413.66 million for the year ended March 31, 2007. Total Income has increased from Rs 16377.59 million for the year ended March 31, 2007 to Rs 29988.28 million for the year ended March 31, 2008.
The Consolidated results are as follows:
The Unaudited consolidated results for the Quarter ended March 31, 2008
The Group has posted a profit after tax of Rs 2401.00 million for the quarter ended March 31, 2008 as compared to Rs 1703.30 million for the quarter ended March 31, 2007. Total Income has increased from Rs 14232.77 million for the quarter ended March 31, 2007 to Rs 18625.08 million for the quarter ended March 31, 2008.
The Audited consolidated results for the Year ended March 31, 2008
The Group has posted a profit after tax of Rs 9912.27 million for the year ended March 31, 2008 as compared to Rs 5382.42 million for the year ended March 31, 2007. Total Income has increased from Rs 42939.53 million for the year ended March 31, 2007 to Rs 75493.91 million for the year ended March 31, 2008.
Asian Paints allows Q4FY08 Results
Asian Paints Ltd has announced the following results for the quarter & year ended March 31, 2008:
The Audited results for the Quarter ended March 31, 2008
The Company has posted a net profit after prior period items of Rs 848.40 million for the quarter ended March 31, 2008 as compared to Rs 711.60 million for the quarter ended March 31, 2007. Total Income has increased from Rs 7402.60 million for the quarter ended March 31, 2007 to Rs 8797.10 million for the quarter ended March 31, 2008.
The Audited results for the Year ended March 31, 2008
The Company has posted a net profit after prior period items of Rs 3752.00 million for the year ended March 31, 2008 as compared to Rs 2720.50 million for the year ended March 31, 2007. Total Income has increased from Rs 28617.40 million for the year ended March 31, 2007 to Rs 34787.40 million for the year ended March 31, 2008.
The Consolidated results are as follows:
The Unaudited consolidated results for the Quarter ended March 31, 2008
The Group has posted a net profit attributable to shareholders of Rs 945.20 million for the quarter ended March 31, 2008 where as the same was at Rs 666.10 million for the quarter ended March 31, 2007. Total Income is Rs 11464.00 million for the quarter ended March 31, 2008 where as the same was at Rs 9725.60 million for the quarter ended March 31, 2007.
The Audited consolidated results for the Year ended March 31, 2008
The Group has posted a net profit attributable to shareholders of Rs 4091.80 million for the year ended March 31, 2008 where as the same was at Rs 2810.30 million for the year ended March 31, 2007. Total Income is Rs 44662.80 million for the year ended March 31, 2008 where as the same was at Rs 37072.20 million for the year ended March 31, 2007.
Asian PPG Industries Ltd., a joint venture of the Company had acquired '2K Business' from ICI Paints on March 16, 2007. Financials for 2007-08 include profit and sales from '2K Business' and hence the figures are strictly not comparable in the above results for the year ended March 31, 2008.
Matrix Laboratories updates
"Mylan Inc., USA, (Mylan) the ultimate holding Company of Matrix Laboratories Ltd (Matrix) has reported today (8th May, local time), the unaudited interim consolidated financials of Mylan for the quarter ended March 31, 2008 under US GAAP reporting, which inter alia included the following unaudited details of Matrix.
Revenues for the three months ended March 31, 2008 (on a US GAAP basis) of US $ 103 million, including third party sales of US $ 87.6 million.
Further note that financial results of Matrix for the quarter ended / year ended March 31, 2008 are yet to be reported under Indian GAAP and the above information is as reported as Mylan, which is being forwarded to your by Matrix for your information.
Further also note that Indian GAAP and U.S. GAAP differ in certain significant respects, and the US GAAP figures reported above may not be indicative of the results under Indian GAAP."
May 8, 2008
3i Infotech acquires strategic stake
3i Infotech Ltd has informed that the Company has acquired a strategic stake of 26% in M/s. Locuz Enterprise Solutions Ltd (Locuz) with a commitment to acquire remaining stake over a period. Locuz is a Hyderabad based Company and is a specialist in IT Infrastructure solutions and services with acknowledged expertise in High Performance Computing, Tiered Storage, Information Security and IP Convergence Solutions.
Revathi Equipment acquires Bangalore company
Revathi Equipment Ltd has informed BSE that the Company has acquired 70% in the equity capital of Semac Pvt Ltd, Bangalore, a Company providing Engineering design solutions for industrial / commercial and infrastructure constructions, for a consideration of Rs 45.50 Crores. Semac serves its customers from its offices spread over Bangalore, Delhi, Hyderabad and Middle East.
Electrotherm India recommends dividend
Electrotherm India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 08, 2008, inter alia, has recommended a dividend @ 6% i.e. Rs 0.60 per share on 6% Non-Cumulative Preference Shares and dividend @ 25% i.e. Rs 2.50 per share on equity shares subject to approval of members at the Annual General Meeting.
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