Sthithi Insurance increases stake in Zylog

Sthithi Insurance Services Pvt Ltd, one of the promoters of Zylog Systems increases its stake by 2.78%; total promoters holding now stands at 39.46%

Zylog Systems Ltd, a Chennai based leading technology solutions company and software service provider, today announced that Sthithi Insurance Services Pvt Ltd, one of the promoters of the company, has increased its holding in Zylog by 2.78%, bringing its total holding to 26.83% from its earlier holding percentage of 24.05%. This increase in the holding has been made through the open market acquisition of 4,57,603 equity shares. This has been carried out in accordance with the guidelines set under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations. As a result of this acquisition the promoters of the company viz., Sudarshan Venkatraman, Ramanujam Sesharathnam and Sthithi Insurance Services have increased their holding in Zylog from 36.68% to 39.46%.

Sudarshan Venkatraman, chairman & CEO, Zylog Systems, said, "We see the increase of this promoter holding as a positive development, and a reflection on the strong profitability of the company. We have, through a strong focus in our areas of expertise, carved a niche for Zylog Systems in the IT products & Solutions space."

Zylog Systems has consistently shown strong performance over the last several quarters, and as reported earlier this month, the company's Q1 FY12 results have shown a 10.8% growth in revenues on a year-on-year basis, along with a PAT increase of 27.5% on a YoY basis.

On Thursday, Zylog ended 0.10% down at Rs402.95 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.85% to 16,146.33.

User

Ajanta Pharma gets UK MHRA approval for Aurangabad facility

Ajanta Pharma formulation plant at Paithan in Aurangabad has received approval from Medicines and Healthcare products Regulatory Agency of UK

Ajanta Pharma said it has received approval from the UK health regulator for its formulation manufacturing facility in Aurangabad.

The company's formulation plant at Paithan in Aurangabad has received approval from Medicines and Healthcare products Regulatory Agency (MHRA) of United Kingdom, Ajanta Pharma said in a filing to the Bombay Stock Exchange (BSE).

Ajanta Pharma managing director Yogesh Agrawal said: "We continue to build expertise in the quality standards and approvals from the most stringent regulatory authorities like USA, UK and WHO pre-qualification are testimony to our commitment towards quality."

The company's Paithan facility has already been approved by the US Food and Drug Administration (USFDA).

On Thursday, Ajanta ended 1.15% down at Rs304.15 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.85% to 16,146.33.

User

IOC introduces India’s 1st pump with self service facility

The first self-refuelling petrol pump opened in Delhi

State-owned Indian Oil Corp (IOC) has introduced the nation's first petrol pump with self service refuelling facility as is prevalent in several developed nations.

The first self-refuelling petrol pump opened in Delhi. It was inaugurated by Amresh Kapoor, general manager in-charge of IOC Delhi State Office.

"Under the concept, the customer shall be provided the option of refuelling his vehicle either through the preloaded automation tags or the manual option by feeding the quantity to be dispensed by the dispensing unit," a company press brief said.

However, an attendant will be available at the bay for assistance and to educate the customer on refuelling system, nozzle handling and collection of the automation bill. He will also collect the payment.

"However, the customer will have an option of choosing between the conventional way of service through pump attendants or opting for self service," IOC said.

The self dispensing system is quite popular at the fuel stations abroad and is expected to generate lot of interest, especially among the youth.

On Thursday, IOC ended 2.69% down at Rs309.85 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.85% to 16,146.33.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)