News Headline
HTMT declares interim dividend of Rs 5 per share
MUMBAI: The board of directors of Hinduja TMT (HTMT), in their meeting held 5 May 2003, considered and declared an interim dividend of Rs 5 per share (50 per cent on the par value of Rs 10 per share) for the year ended 31 March 2003, amounting to Rs 204.5 million.
A press release states that the consolidated audited financial results of the company and its subsidiaries will be published on or before 30 June 2003, when the final dividend will be announced.
The release also adds that the total employee strength in its IT division, which is HTMT’s core activity, grew by 55 per cent, from 953 at the beginning of the year to 1,472 by March 2003 owing to expansion in its BPO / call centre business. The release adds that the company is in the process of recruiting 200 additional CSRs / processors during the current quarter to take care of the increase in business from its existing clients and orders from new customers which are getting concluded.
Conditional Access System related announcements
The release adds that HTMT is also engaged in strengthening of IT infrastructure of its flagship subsidiary IndusInd Media & Communications Ltd (InCableNet). The company has recently entered into an agreement with Kudelski SA Switzerland and its subsidiary Nagra Vision for equity investment and CAS (conditional access system) implementation, says the release.
The release also adds that InCableNet will be issuing upto 3 per cent of its equity to Kudelski SA, at a company valuation of approximately Rs 23 billion (US$ 500 million). HTMT currently has an effective stake of 62.07 per cent in InCableNet, which the company acquired through share swap on merger of certain privately held Hinduja Group companies with itself in 2001-02.
The release also mentions that InCableNet has already placed orders for supply of CAS equipments like digital head-end, subscriber management system, billing system and set top boxes with various vendors and is well geared to meet the deadline of CAS introduction viz. 14 July 2003.
Expansion Plans in Philippines and Mauritius
In order to broad base its service delivery capabilities and enhance its domain expertise, HTMT is in an advanced stage of negotiations for acquiring a 900 agent call centre company in the Philippines, which is likely to be ramped upto 2000 agents.
The call centre company is already serving a few Fortune 500 clients. The legal due diligence exercise by Crawford Bayley & Company, Solicitors and financial due diligence by Price Waterhouse, is nearing completion. The due diligence report would be placed before the HTMT’s board later in the current month, adds a release.
HTMT is already operating a Disaster Recovery Centre (DRC) at Philippines for its US based telecom client, which is running successfully and is now considering expansion of its business to Mauritius as desired by its US Insurance customer for geographical diversity.
According to HTMT vice chairman S Solomon Raj: ” The above business de-risking initiatives of the company will raise the confidence level of customers of HTMT and lead to increase in the flow of business from them.”
Associate companies
The release states that the company’s associate, Fascel Ltd, the largest cellular services provider in the Gujarat circle with 457,195 subscribers, has posted profits in 2002. The recent sale of Kotak Mahindra’s 11 per cent stake in Fascel at Rs 920 million provides a benchmark valuation to HTMT’s 19.71 per cent effective stake in Fascel, which continues to post good performance.
HTMT had acquired its stake in Fascel through share swap on merger of a privately held Hinduja Group company with itself in 2001-02.
New appointment on the board
The release also mentions that Rajendra P. Chitale, an eminent chartered accountant and a managing partner of M/s MP Chitale & Co has joined HTMT’s board as an additional director. Chitale, a director on the board of important Indian corporates, is expected to add great value to the functioning of HTMT’s board through his professional expertise, states the release.
On the Bombay Stock Exchange, the HTMT scrip opened the day at Rs 193.65 rose 1.93 per cent by 12 noon to hover around the Rs 196.70 mark. On the National Stock Exchange, the scrip fell slightly to Rs 194.45.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
