Madras Aluminium FY-01 net down by 8.69%

Madras Aluminium Company Ltd has posted a net profit of Rs 277.40 million for the year ended June 30, 2001 as compared to Rs 303.80 million for the corresponding period last fiscal. Net Sales have increased from Rs 2030.2 million in FY-00 to Rs 2591.10 million in the financial year ended June 30, 2001. Other income has decreased from Rs 176.50 million in FY-00 to Rs 63.20 million in the year ended June 30, 2001. The Board of Directors has recommended a dividend of 70% on the equity capital of the company for the year ended June 30, 2001.

Vision Organics to be traded on a trade-to-trade basis

BSE has informed the members that with effect from Monday, August 13, 2001, i.e., Settlement No. 21/2001- 02, Vision Organics Ltd will be transferred for trading and settlement on trade to trade basis until further notice. BSE has further informed that no trading will be allowed in Rolling Segment i.e., 5 lakh series, of the under mentioned scrips until further notice

Novartis replies to information sought by ROC

With reference to a letter sent by a shareholder of Novartis India Ltd to Department of Company Affairs regarding sale of around 80 acres of vacant surplus land at Goregaon, Near Aarey Colony Mumbai by Novartis India Ltd and Ciba Speciality Chemicals India Ltd. The company Novartis India Ltd has send a reply to Registrar of Companies, Maharashtra in the aforesaid matter.

Infosys Tech allots equity shares under Stock Option Plan

The Board of Directors of Infosys Technologies Ltd on August 13, 2001 transacted the following item of business: Allocated an aggregate of 29,900 (Twenty nine thousand nine hundred only) stock options exercisable for equity shares of par value of Rs 5 per share to employees of the company, pursuant to the company's 1999 option plan and an aggregate of 43,000 (Forty three thousand only) ADS linked stock options exercisable for ADSs to employees pursuant to the company's 1998 option plan, on a sign on and regular basis. An aggregate number of 194 employees who joined the company between July 05, 2001 and August 03, 2001 were granted the said stock options.

Telco revises terms of rights issue

Tata Engineering & Locomotive Co Ltd has revised the terms of rights issue of the company. Convertible Debentures Basis of Offer of Convertible Debentures 1:4 The Issue Price of Convertible Debentures is Rs 65 per CD. Every five CDs would also have one detachable and tradable equity warrant. The Coupon Rate is 7% p.a. upto conversion Terms of Conversion/Warrant Exercise/Redemption of Convertible Debentures: Compulsorily converted into one ordinary share of Rs 10 each on March 31, 2002 at a premium of Rs 55 per share. Each warrant can be exercised any time after 18 months from the date of allotment till September 30, 2004 by applying for in cash, and being allotted one equity share of Rs 10 each at a price of Rs 120 per share. The Issue Size is Rs 4157.70 million of CDs and upto Rs 1535.10 million on exercise of all warrants. Basis of Offer for Non-Convertible Debentures with detachable warrants is 1:10 The Issue Price of Non Convertible Debentures is Rs 100 per NCD. Every two NCDs would have one detachable and tradable equity warrant. The Coupon Rate is 11% p.a. payable annually on the amount outstanding upto redemption of the NCD. Terms of Conversion/Warrant Exercise/Redemption of Non Convertible Debentures: Redemption is in 3 installments of Rs 30, Rs 35 and Rs 35 each at the end of the 4th, 5th and 6th years from the date of allotment. The NCDs would have a put and call option at the end of 24 months from the date of allotment. The warrants can be exercised any time after 18 months from the date of allotment till September 30, 2004 by applying for in cash, and being allotted one equity share of Rs 10 each at the price of Rs 120 per share. The Issue Size is Rs 2558.60 million of NCD and Rs 1535.10 million on exercise of all warrants. The above terms would be subject to the approvals of SEBI, Reserve Bank of India and all other appropriate authorities as may be necessary or imposed by any of them while granting such approvals, which may be agreed to by the Board of Directors and/ or committee thereof.

High Court approves amalgamation of Voltas International with Voltas

Voltas Ltd has informed BSE that, the Hon'ble High Court, Mumbai has approved the scheme of amalgamation of Voltas International Ltd., a wholly owned subsidiary of the company, with the company effective from 01/04/2001. The company would commence steps to implement the Court Order upon its receipt, including filing a copy of the same with ROC, Maharashtra, Mumbai.

SBI revises interest rates

Sate Bank of India has informed BSE that the bank has decided to revise interest rates as under: The short term prime lending rate (State Bank Short Term Advance Rate-Sbstar) for maturities upto 180 days would stand revised downwards by 50 basis points from the present level of 10.50% per annum to 10% per annum. The short term prime lending rate (State Bank Short Term Advance Rate-Sbstar) for maturities exceeding 180 days but less than 1 year would stand revised downwards by 50 basis points from the present level of 11.00% per annum to 10.50% per annum. The interest rates on the following deposits also stand revised Domestic Term Deposits less than Rs 1crore and as well as 1crore & above Duration Existing Revised For Maturities of 1 year to less than 2 years 8.50% 8.00% For Maturities of 2 year to less than 3 years 9.00% 8.50% For Maturities of 3 years & above 9.50% 9.00% The change in interest rates would be effective from August 06, 2001.

HCL Infosystems FY-01 results on August 20, 2001

A meeting of the Board of Directors of HCL Infosystems Ltd is scheduled to be held on August 20, 2001 to transact the following business: 1. To consider and approve the Annual Accounts of the Company for the year ended on June 30, 2001. 2. To consider recommendation of dividend for the financial year ended on June 30, 2001. 3. To convene the Fifteenth Annual General Meeting of the Company. 4. To approve the dates for closure of Register of Members. 5. To take on record the audited financial results for the year ended on June 30, 2001.

Roofit Industries members approve rights issue

Roofit Industries Ltd has informed BSE that at the EGM of the company held on August 10, 2001, members have passed following resolutions: 1. Increase in Borrowing limit to Rs.3000 million 2. Increase in limit for creation of charge, mortgages to Rs.3000 million 3. Increase of Authorised capital from Rs.500 million to Rs.600 million by creation of additional equity capital of Rs.100 million 4. In respect of item No.4 of EGM Notice dated 25.06.01, one of the members had moved an amendment in the special resolution and accordingly amended the said resolution as issue of equity shares of Rs 10 each and/or FCD at such premium/price as may be decided by the Board on rights basis in the ratio of 2:5 has been passed unanimously.

HCL Technologies to focus on emerging technologies

HCL Technologies Ltd has informed BSE that, in order to focus on emerging technologies and build a requisite skill base in these, the company has fostered the unique concept of 'Technology Cradles'. These are offshore units where key resources are allocated to identify emerging technology opportunities and currently 9% of the company's offshore manpower is focussed on diverse Technology Cradles in the areas of Blue tooth, WAP, xml, vxml, meXe etc. This focussed attempt has resulted in development of six new soft cores in the current year. - IEEE 1394 for home networking - Modem software (V34, V42) - 12C software for building bigger VLSI devices - VMIPS=MIPS processor model - Bluetooth stack and softcore for Bluetooth Besides their worth in value terms, they give company a distinct advantage in deploying these tools for time to market advantage and scalability for its customers, company intends to continue making investment in this strategy in the coming years.

DCL Polyester Board approves scheme of arrangement

DCL Polyester Ltd has informed BSE that the Board of Directors of the Company has approved the Scheme of Arrangement and Reconstruction in line with the financial restructuring approved by the lenders to : a) reduce the existing equity by 50%. b) Write off the Reserves and Surplus by reducing the Share Premium A/c, State Subsidy and Debenture Redemption Reserve A/c by Rs 310 million. c) Issue of equity to Promoters d) Convert 1/3rd of the outstanding loan amounts into equity and issue the same to financial institutions.

Cenlub Industries workers on illegal strike

Cenlub Industries Ltd has informed BSE that the Company's workers are on illegal strike from June 29, 2001. Due to this reason all company work is held up.

Alembic to seek shareholders approval for scheme of de-merger

Alembic Ltd has informed BSE that the Hon'ble High Court of Gujarat has directed the company for getting approval of shareholders of the Company for the Scheme of De-merger of the Bulk Drug Division of M/s Darshak Ltd, with the company by way of postal ballot and approval of Secured and Un-secured Creditors by way of holding Creditors meetings held September 29, 2001.

Pentasoft ties up with Credence Analytics for Treasury Management Solutions

Pentasoft Technologies Ltd, global IT solutions major has entered into an agreement with Credence Analytics, an investment technology solutions provider, to provide i-Deal - a fully integrated, front, middle and back office Treasury Management System. Through this partnership, Pentasoft plans to leverage its worldwide infrastructures to take the i - Deal Treasury Management Product to global markets. Developed by Credence Analytics, this Treasury Management add-on will now be available alongwith Pentasoft's comprehensive Financial Services solutions, thereby providing a synergised solution to banks and financial institutions worldwide. i-Deal supports Foreign Exchange, Money Markets and Fixed Income Products. Its functionality includes decision support analytics; deal capture; real-time consolidation across products, locations, and client portfolios; risk and portfolio management analytics such as value-at-risk, valuation engine and multiple configurable limits monitoring; confirmation and settlement straight-through-processing; cash inventory management; and multi-currency sub-ledger accounting generation module. As per the agreement, i-Deal would be available along with Pentasoft's PentaBank solutions, which address both Central Banking and Branch Banking requirements. PentaBank is supported by a suite of e-products like e-Trade (for Trade Finance), e-Bank (Internet Banking), e-Payments (Utility Payments through Internet), e-Pass (Payments and Settlements for inter-branch auto- reconciliation), e-Shift (electronic message based funds transfer) and e-Probe (electronic audit). Besides, it supports CMS (for Cash Management), FAMS (Fixed Asset Management), PMS (Property Management) and ALM (for Risk Management).

Snowcem and Jenson Join Hands

India's paint major, J&N has entered into a strategic alliance with Snowcem India Ltd., leaders in Exterior paints creating growth possibilities for each. The Board of Directors of both the Companies have approved the strategic alliance and the formation of a 50:50 Joint Venture Marketing company at their respective Board meetings held on August 11, 2001. The JV is dedicated to bring the selling arm of both companies for all their Decorative products together as a market force. "Given the ground realities, it makes perfect sense for us to join hands with a leader in decorative coating segment. The Joint Venture will provide our customers a complete range of high- end architectural paints and decorative coatings" said Mr. T.B. Ruia, Vice Chairman & Managing Director of Snowcem India Ltd. This coming together gives birth to a perfect match. Snowcem is the generic name for Exterior Cement Paint. J&N is one of the lead players in interiors and the first runner in Tinting manufacturing. "As most of our products are in non-competing categories, the Joint Venture leverages the strengths of both the companies for the ultimate benefit of the consumer", opined Mr S.P. sinha, Chairman & Managing Director of Jenson & Nicholson (India) Ltd. With complimentary product range, skills and strengths, the JV heralds a new market force in the Indian paint industry.

BSE revises Special Margin on 33 scrips

BSE has informed the members of the exchange that the following scrips will attract Special Margins as indicated hereunder with effect from August 13 2001.The rates of Special Margins have been revised keeping in view the closing price of the scrip on the last day of the settlement. Members are hereby informed that special margins will be imposed either on the net outstanding purchase or net outstanding sales positions as indicated below : CODE NAME GROUP PURCHASE MARGIN SALE MARGIN 512599 ADANI EXPORTS A 25 7525 AMRIT BANASPATI B2 25 32382 BALAJI TELEFILM B1 50 50 24170 DSQ BIOTECH B2 25 26624 ELBEE SERVICES B1 25 150 FOSECO INDIA B1 25 32312 GEOMETRIC SOFT B1 25 31984 GUJARAT FISCON B2 50 523477 GUJARAT GAS A 50 193 HOTEL LEELA B1 25 32175 INOTECH ENTERPR B1 25 32209 JAMMU & KASHMIR B1 25 31115 JYOTI COSMETIC B2 25 532148 KOLAR INFOTECH B1 25 23411 KRONE COMMUNICA B1 25 500260 MADRAS CEMENTS A 25 32337 MASCOT SYSTEL B1 25 6954 MOTORALA SPEC B2 25 32350 PADMALAYA TELE B1 25 17447 R S SOFTWARE B1 25 7300 RAVALGAON B1 25 24632 RELISH PHARMA B2 25 26089 ROOFIT INDUSTRI B1 25 8976 SPANCO TELESYST B2 25 12299 STERLING BIOTEC B1 25 32348 SUBEX SYSTEM B1 25 32211 SUN EARTH CERAM B1 25 532359 SUNBEAM INFOWAY B2 25 30239 SUVEN PHARMCEUT B1 25 31830 TODAY'S WRITING B2 25 31554 TOP CASSETTES B1 25 506690 UNICHEM LABAROT B1 25 31717 VIDHI DYESTUFFS B2 25

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