Dr Reddy's subsidiary to present novel findings at American Diabetes Association meeting

Reddy US Therapeutics, Inc a biopharmaceutical company in suburban Atlanta and a subsidiary of Dr. Reddy's Laboratories Ltd, announced the acceptance of two separate abstracts to be presented at the upcoming 61st Annual Scientific Sessions of the American Diabetes Association (ADA) in Philadelphia, June 22-26, 2001. The first abstract is entitled, "Hyperinsulinemia markedly exacerbates glycated albumin and TNF induced expression of endothelial inflammatory molecules MCP-1 and VCAM-1: A mechanism for accelerated atherosclerosis in insulin resistance Type II diabetes". The data from this preclinical study demonstrates that high levels of circulating insulin, in conjunction with other stimuli found in Type II diabetes may accelerate atherosclerosis by enhancing the expression of certain key genes. These results may explain, in part, the accelerated atherosclerosis observed in Type II diabetes. One important clinical consequence of this study is the suggestion that drugs that reduce both hyperinsulinemia and improve insulin resistance may provide additional therapeutic benefits for diabetic cardiovascular disease. The abstract will be presented in the category of Complications, Macrovascular on 23 June. The second abstract is entitled, "Synergistic induction of endothelial IL-6 by diabetic stimuli. An initiating event in diabetic nephropathy? " The data to be presented shows that endothelial activation and resulting production of an inflammatory cytokine, IL-6 may play a role in the genesis of diabetic nephropathy of kidney disease. If findings in this study are corroborated in additional in vivo models, then it will provide a new approach to designing therapeutics for the treatment of diabetic nephropathy. The study will be presented in the category of Complications nephropathy on 25th June. According to the American Diabetes Association, diabetes currently affects 16 million people in the US alone or nearly 1 in 15 individuals. The rate of increase in the number of diagnosed cases is significantly increasing, and the Centers for Disease Control (CDC) has recently reported that diabetes rates rouse a striking 6% among adults in 1999. An estimated 30-40 percent of those with Type I diabetes and 10-15 percent of those with Type II diabetes are likely to develop kidney disease. Diabetes is the leading cause of end-stage renal disease. Cardiovascular disease, including atherosclerosis, is 2-4 times higher among diabetic patients and is the leading cause of death in this population. Reddy US Therapeutics, Inc a biopharmaceutical company in suburban Atlanta, and a subsidiary of Dr. Reddy's Laboratories Limited announced today the appointment of Dr.Bruce Carter to its Board of Directors. " Bruce is an industry veteran and valuable addition to our Board." said Dr. Anji Reddy, Chairman of the Board. He further added, " His addition to our Board of Directors will significantly help our R & D efforts in Atlanta." Dr.Uday Saxena, President and CEO of Reddy US therapeutics, Inc., was excited by the addition of Dr.Carter to the Board of Directors. He commented, " The extensive experience of Dr.Carter in the pharmaceutical business, including his recent responsibilities as the President and CEO of ZymoGenetics, will provide significant insight and value to our current research efforts." Dr. Carter is President and CEO of ZymoGenetics Inc. ZymoGenetics is a targeted bioinformatics-driven company dedicated to the discovery and development of novel therapeutic agents. Previously, Dr. Carter held the position of President of ZymoGenetics from 1988 to 1994. From 1994 to 2000, Dr.Carter was Corporate Executive Vice President and Chief Scientific Officer for Novo Nordisk A/S and a member of the company's corporate management team. In commenting upon his decision to accept the opportunity to join the Board of Directors of Reddy US Therapeutics, Inc., Dr.Carter made the following statement: " Dr.Reddy's original success was based on generic drugs. He has been able to transition to discovering patentable drugs to known targets. Reddy US Therapeutics shows that Dr.Reddy's intends to discover novel drugs for novel targets and be a force in the USA. Dr. Reddy combines vision, wisdom, and perseverance. I am delighted to be part of his organization"

BILT Q3 net up by 69.35%

Ballarpur Industries Ltd has posted a net profit of Rs 258.10 million for the quarter ended March 31, 2001 as compared to Rs 152.40 million for MQ 2000. Total Income for the quarter ended March 31, 2001 is at Rs 3496.10 million as compared to Rs 3194.70 million in the corresponding period last fiscal. The figures for MQ 2001 relate to the Restructured BILT and accordingly include the financial performance of pulp unit of APR Ltd. and excludes those of Unit Ashti vested in APR Packaging Ltd. pursuant to the scheme of Arrangement & Reorganisation as approved by the Honorable High Courts of Mumbai, Nagpur bench and Andhra Pradesh, Hyderabad. The figures for the corresponding Quarter ended March 31, 2000 are therefore, not comparable with the Quarter months ended March 31, 2001.

MRF Q2 results on April 30, 2001

A meeting of the Board of Directors of MRF Ltd has been convened on April 30, 2001 to take on record the unaudited financial results for the quarter ended March 31, 2001.

Thermax's electronics subsidiary closes operations

Thermax Ltd today (April 20, 2001) announced the closure of operations of its 100% subsidiary, Thermax Electronics Ltd., located in the Bhosari industrial area of Pune, which was in the business of manufacturing passive electronic components and resistors. The management exercised the closure of operations option after prolonged efforts at trying to sell the subsidiary or find a partner did not produce results. As part of the restructuring exercise, Thermax is exiting businesses where it does not see potential for significant profits or growth. Thermax has already hived off its Software subsidiary, Thermax Systems and Software to Global Telesystems. It has also sold its fan business and dissolved the loss-making joint venture, Thermax Fuji Electric Limited. The employees of Thermax Electronics Ltd, affected by the closure, have been paid all their legal dues and the company will meet its obligations to its other stakeholders like bankers and suppliers.

Ingersoll-Rand FY-01 results on April 28, 2001

A meeting of the Board of Directors of Ingersoll- Rand India Ltd has been convened on April 28, 2001 to consider and approve the audited accounts for the year ended March 31, 2001. Since the company will be declaring the audited financial results within 3 months from the close of the financial year, the company will not publish audited financial results for the fourth quarter ended March 31, 2001.

Grasim Industries to publish FY-01 results on April 30, 2001

A meeting of the Board of Directors of Grasim Industries Ltd has been convened on April 30, 2001 to consider and approve the audited accounts for the year ended March 31, 2001 and to recommend dividend on equity shares for the year ended March 31, 2001. Since the company will be declaring the audited financial results within 3 months from the close of the financial year, the company will not publish audited financial results for the fourth quarter ended March 31, 2001.

Colgate-Palmolive to publish FY-01 results by June 30, 2001

Colgate Palmolive India Ltd has informed BSE that the company will publish audited results of the financial year ended March 31, 2001 on or before June 30, 2001

SmithKline Beecham Consumer Health Q1 net up by 28.21%

SmithKline Beecham Consumer Health Care Ltd has posted a net profit of Rs 285.40 million for the quarter ended March 31, 2001 as compared to Rs 222.60 million for the quarter ended March 31, 2000. Total Income for the quarter ended March 31, 2001 is at Rs 1929.60 million as compared to Rs 1582.60 million in the corresponding period last fiscal. The relatively high growth percentage in Sales shown in the financial results for Q1, 2001 should be reviewed against last years reported results for the corresponding period influenced by the recessionary trends experienced in the Indian economy at that time.

Wartsila Q1 net up by 200%

Wartsila India Ltd has posted a net profit of Rs 36 million for the quarter ended March 31, 2001 as compared to Rs 12 million in the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is up by 48.78% as compared to the corresponding period in the previous fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 860 million as compared to Rs 578 million in MQ 2000. The company's orderbook as on March 31, 2001 for power plants to be executed during the year was Rs 694 million as against Rs 1415 million on March 31, 2000.

Castrol Q1 net down by 45.77%

Castrol India Ltd has posted a net profit of Rs 244.40 million for the quarter ended March 31, 2001 as compared to Rs 450.70 million for the quarter ended March 31, 2000. Net Sales for the quarter ended March 31, 2001 are at Rs 2512.30 million as compared to Rs 2360.30 million in the corresponding period last fiscal. Other income has fallen from Rs 116.70 million in MQ 2000 to Rs 34.80 million in the quarter ended March 31, 2001. The company has phased out manufacture at its Hosakote plant and all workmen have opted for Voluntary Retirement during the quarter and the relevant cost of Rs 32.60 million have been provided in the results.

Zee denies news item

With reference to news item "Zee acquires 15% stake in Asian Age" Zee Telefilms Ltd has informed BSE that the company has not invested nor has any plans to invest into the equity of Asian Age.

Saregama Q4 results on April 30, 2001

Saregama India Ltd has informed BSE that the meeting of the Board of Directors is scheduled to be held on April 30, 2001 for approval of Unaudited Financial Results (Provisional) of the Company for the quarter ended March 31, 2001.

Afren Hsu acquires 22% equity cap of Essel Packaging

In compliance with the regulation 7(3) of the SEBI(Substantial Takeover of Shares & Takeovers Regulations 1997)Essel Packaging Ltd has informed BSE that Afren Hsu Ltd has acquired 68,63,322 equity shares constituting 22% of the paid-up share capital of the company in pursuance of the preferential allotment of equity as approved in the Extra-Ordinary General Meeting of the company held on December 14, 2000.

Havell's to restructure operations

Havell's India Ltd has informed BSE that the company has decided to restructure its operations by merger/ amalgamation with its associates company for which the assignment has been given to Price Water House Coopers (PWC) a Chartered Accountant firm, by way of signing a Memorandum of Understanding (MOU) dated April 19, 2001. Initially PWC has suggested for option analysis on the said matter.

ACC FY-01 results on April 30, 2001

Associated Cement Companies Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, April 30, 2001 at the Registered Office of the company to consider inter alia the Audited Accounts of the Company for the financial year ended March 31, 2001 and dividend, if any, to be recommended.

Gujarat Ambuja Cements Q3 results on April 27, 2001

Gujarat Ambuja Cements Ltd has informed BSE that the Board Meeting of the Company is scheduled to be held on Friday, April 27, 2001 to consider the quarterly unaudited financial results for the quarter ended March 31, 2001.

Sterlite Industries clarifies on SEBI's order

With reference to SEBI order dated April 19, 2001 Sterlite Industries Ltd has informed BSE that they categorically deny any involvement whatsoever in the alleged share price manipulation by Harshad Mehta and/or his associates.

Wipro Q4 net up by 150.57%, FY-01 net up by 168.98%

Wipro Ltd has posted a net profit of Rs 2175 million for the quarter ended March 31, 2001 as compared to Rs 868 million in the corresponding period last fiscal. Total Income for the quarter ended March 31, 2001 is at Rs 9388 million as compared to Rs 7428 million in the corresponding period last fiscal. Net Profit for the financial year ended March 31, 2001 is at Rs 6679 million as compared to Rs 2483 million in the financial year ended March 31, 2000. Total Income for the year ended March 31, 2001 is at Rs 30922 million as compared to Rs 22921 million in FY-00. The Board of Directors at their meeting also proposed a final dividend of Re. 0.50 per share subject to the approval of shareholders at the Annual General Meeting to be held in July 2001. The register of members and share transfer book will remain closed from July 3,2001 to July 19, 2001 both days inclusive. The Annual General Meeting of the Company has been scheduled for July 19,2001. During the year with effect from September 1,2000 the company transferred the business of manufacturing and distribution of computer Peripherals to Wipro e-Peripherals Limited (WeP) for a consideration of Rs 271 million received by way of 5460000 equity shares of Rs 10 each in Wipro e-Peripherals Limited 1,000,000 12.5% unsecured Non convertible debentures of Rs 100 each in Wep and cash of Rs 116 million. the transaction resulted in gain of Rs 16 million which has been shown as extraordinary item.

Infrastructures India Board approves merger of Vanavil Technology

The Board of Directors of Infrastructures India Ltd has today (April 19, 2001) decided to merge Vanavil Technology Pvt Ltd with the Company. The Board has authorised Sri H Manivannan to take necessary steps regarding the same. A meeting of the Board has been convened on April 23, 2001 to finalise the swap ratio for the said merger. At the aforesaid meeting, the Board has also recommended to pay 5% dividend for the year ended March 31, 2001.

Sterlite Industries Q3 results on April 25, 2001

A meeting of the Board of Directors of Sterlite Industries Ltd is scheduled to be held on April 25, 2001 to approve the unaudited financial results for the third quarter ended March 31, 2001.

Dr. Reddy's Laboratories enter into marketing alliance with Par Pharmaceuticals, Inc.

Dr. Reddy's Laboratories Ltd has entered into an exclusive co-marketing and development agreement with Par Pharmaceuticals Inc ("Par') covering fourteen generic pharmaceutical products. Included in this group of products is flouxetine 40mg capsules and famotidine 20 mg and 40 mg tablets. Dr Reddy's believes that it is the first to file Abbreviated New Drug Application (ANDA) for fluoxetine 40 mg capsules and anticipates 180 days exclusivity. This agreement will further strengthen Dr Reddy's position in the US generics market. Dr Reddy's will draw a substantial cost advantage on account of its vertical integration capabilities. Dr Reddy's has received United States Food and Drug Administration (USFDA) approval for famotidine 20mg and 40mg tablets on April 16, 2001. Pursuant to the approval Dr Reddy's launched the generic version of famotidine 20mg and 40mg tablets in the US market on April 16, 2001. Famotidine is used for short-term treatment of peptic ulcer. The company has now 4 approved ANDAs. These include famotidine 20 mg and 40 mg tablets rantidine 75-mg (OTC) rantidine 150 mg/300 mg capsules and oxaporzin 600-mg tablets in the US. The company has tentative ANDA approvals for famotidine 10 mg tablets (OTC) and ciprofloxacin 100/250/500/750. Dr Reddy's has two approved Marketing Authorization Applications (MAA) for rantidine 150 mg and 300 mg tablets in France and norfloxacin 400 mg tablets in New Zealand. Dr. Reddy's also has an Abbreviated New Drug Submissions (ANDS) approval for fluoxetine 10mg and 20mg capsules in Canada.

Central Pulp Q3 net profit up by 162.63%

Central Pulp Mills Ltd has reported a net profit of Rs. 52 million in the quarter ended March 31, 2001 as against Rs. 19.80 million in the same quarter for the previous fiscal. Sales increased from Rs. 294.50 million in MQ 2000 to Rs. 333.90 million in MQ 2001. Other Income stood at Rs. 6.20 million in the quarter ended March 31, 2001 as compared to Rs. 3.40 million in the quarter ended March 31, 2000. The Company has also informed that the restructuring Scheme of JK Corp Ltd (JKCL) inter-alia, provides that JK Paper Division of JKCL shall be transferred to the Company w.e.f. April 1,2000. The aforesaid scheme is pending for sanction by the High Courts of Gujarat and Orissa. The working of JK paper Division has not considered in the quarterly results.

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