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Corporate briefs

Interim dividends

W The board of directors of Kotak Mahindra Finance Ltd (KMFL) has declared an interim dividend of 18 per cent for the year ending March 31, 2000.

The outflow on account of payment of the interim dividend will be Rs. 6.61 crores. While the dividend for the previous year was 12 per cent, the board has increased it to 18 per cent this year in view of the company's improved financial performance.

W Hindustan Sanitaryware & Industries Ltd has declared an interim dividend of 45 per cent for the year ending March 31, 2000.

A decision to this effect was taken at a meeting of the company's board of directors held in New Delhi on Thursday.

The company's growth during the financial year 1999-2000 was higher than the industry average and it was confident of maintaining its rate of growth, a press release said.

The total outgo on account of the interim dividend would be Rs. 2.25 crores on an equity base of Rs. 5.01 crores. The dividend will be paid to those shareholders whose names appear in the register of members as on May 16, 2000, the release added.

W Birla Global Finance Ltd (BGFL) has declared a second interim dividend of 20 per cent, for which April 29 has been set as the record date.

The company declared its first interim dividend of 15 per cent in October 1999. With the second interim dividend now declared, the total interim dividend declared during the financial year works out to 35 per cent.

W Jindal Drilling has declared an interim dividend of 25 per cent based on good financial results for the year ending March 2000.

The company is expected to earn a profit before tax of Rs. 21 crores, a net profit of Rs. 14 crores and a turnover of Rs. 175 crores for the year ending March 2000, with a paid-up capital of Rs. 4.5 crores. The resulting EPS is at Rs. 31, a company relea se issued in New Delhi said.

W The board of directors of Maharashtra Seamless Ltd has declared interim dividend at the rate of 12 per cent to its shareholders.

The company is expected to earn a profit before tax of Rs. 19.50 crores (Rs. 14.05 crores) for the year ending March 2000. Profit after tax is likely to be Rs. 14.50 crores (Rs. 10.36 crores), showing an increase of around 40 per cent, a company s tatement said in New Delhi. _ Our Bureaus

Linc Pen to consider interim

CALCUTTA: Linc Pen & Plastics Ltd, the flagship company of the city-based Linc Group, is to consider interim divided at its forthcoming board meeting on April 13.

According to a Linc Pen press note, the company expects to end this fiscal with a sales turnover of Rs. 28 crores.

Linc Group also plans to invest between Rs. 8 and Rs. 10 crores in its units to double its manufacturing capacity. At present, the group has a production of 70 lakh pens and expects to end this year with a sales of Rs. 45 crores. _ Our Bureau

Eider Infotech trading suspended from NSE

MUMBAI: Equity shares of Eider Infotech Ltd will be suspended from trading on the NSE's capital market segment from April 12 for non-compliance of the provisions of listing agreement executed with the exchange.

According to the NSE, a show-cause notice was sent to the company seeking reasons for non-compliance of provisions of listing agreement. However, as the company failed to provide a satisfactory response, the exchange decided to suspend trading in these e quity shares.

The NSE expelled Leaprofin Securities Ltd with effect from March 29, due to the member's failure in meeting the requirements for continued membership of the exchange and clearing corporation.

It has also suspended Al-Falah Investments Ltd and declared Savasthi Investments Ltd a defaulter with effect from March 29, due to their failure in meeting with the requirements of exchange and their obligations and liabilities to the exchange and cleari ng corporation. _ Our Bureau

AMP renamed Tyco Electronics

BANGALORE: AMP India on Thursday announced it has been renamed Tyco Electronics Corporation with immediate effect, following its acquisition by Tycoon International in April, 1999.

According to Mr. Samir Inamdar, Managing Director, Tyco Electronics Corporation, the Indian company would grow at a much faster pace under the fold of Tycoon International.

Tyco Electronics Corporation manufactures connectors, wiring harness, cabling systems, fiber optic and wireless interconnection devices.

The company expects to clock a sales of Rs. 150 crores during the current year and is looking at acquisitions to further its growth. Its growth in the last couple of years has been to the extent of 86 per cent on a compounded basis. _ Our Bureau

IIMA, Spencer tie-up

CHENNAI: The Indian Institute of Management, Ahmedabad, and Spencer & Company Ltd, Chennai, an RPG enterprise, have signed an MoU to set up a Centre for Retail Management at the Institute.

An RPG press release said the Centre will augment interactions between academia and industry to promote developmental activities in organised retailing. A Chair will be established at the Institute, which will be titled `RPG Chair Professor of Retailing' . _ Our Bureau

TNPL bags Mother Teresa Award

CHENNAI: Tamil Nadu Newsprint & Papers Ltd (TNPL) has been selected this year for the Mother Teresa Award for best corporate citizen by the Loyola Institute of Business Administration (LIBA).

The selection committee headed by Justice S. Mohan (retd judge of the Supreme Court) evaluated over 80 manufacturing companies with a turnover not exceeding Rs. 1,000 crores.

The award will be presented at a function on April 9, a release said.

According to Dr. Louis Xavier S.J., Director, LIBA, ``This award is conferred on a company which has exhibited a high degree of social responsibility and serves as an ideal corporate citizen.'' _ Our Bureau

DSCL signs MoU with BC Hydro International

NEW DELHI: DSCL Energy Services Company, promoted by DCM Shriram Consolidated Ltd (DSCL), has ventured into the areas of services business of energy and environment to provide energy efficiency services and develop renewable energy.

To this effect, an MoU has been signed between DSCL and BC Hydro International Ltd, a subsidiary of BC Hydro, Canada. The basic thrust of the alliance is to undertake projects initially in the building sectors.

BC Hydro has successfully implemented energy efficiency programmes in Canada and elsewhere under their `Power Smart' programme.

DSCL Energy Services and BC Hydro International have started a pilot study in the hotel sector in Delhi. They are in talks with various agencies to undertake a sustainable business programme for improving energy efficiencies in the building sector. _ Ou r Bureau

TCIL sets higher revenue target

NEW DELHI:Telecom Consultants India Ltd (TCIL) on Wednesday signed a MoU with Department of Telecom Services (DTS), which envisages that TCIL will aim to achieve a revenue target of Rs. 760 crores in 2000-2001 as against Rs. 660 crores for the current fi scal, an increase of 15 per cent.

The target for gross margin has been kept at Rs. 67.5 crores as against Rs. 53 crores for the previous year, a projected increase over 27 per cent, an official press release said. _ Our Bureau