Teledata Informatics to call EGM to seek members approval on preferential issue

Teledata Informatics Ltd has informed BSE that the board of directors of the company at its meeting held on Tuesday has approved the allotment of 1.135 million equity shares at a price of Rs 11 each (Inclusive of premium of Re 1 per share) to Net Tracking Solutions Inc, Botswana (foreign entity) on preferential basis subject to the approval of Shareholders and other statutory approvals in terms of SEBI Guidelines on preferential issues for consideration other than cash and in lieu of acquiring software product from them. The board has also approved the acquisition of 30 per cent equity stake equivalent to 60,000 US$ in Teledata Systems & Services LLC, USA in lieu of giving them marketing rights of its Software "Ship Management" products for American continent. The board has also approved the acquisition of 30 per cent equity stake equivalent to 60,000 US$ in Teledata Systems & Services LLC, USA in lieu of giving them marketing rights of its Software "Educational Management" products for American continent. The board has decided to convene to convene an extra-ordinary general meeting on January 25, 2002 to obtain the approval of the shareholders for the above proposals.

Alliance Capital Mutual Fund's stake in Digital GlobalSoft rises to 5.02 per cent

Digital GlobalSoft Ltd has informed BSE that the Alliance Capital Mutual Funds has intimated the Company that they hold in aggregate 1,642,309 shares i.e. 5.02 per cent of the paid-up equity capital of Digital GlobalSoft Ltd. This is pursuant to the acquisition of 1,00,000 shares representing 0.31 per cent of the paid up capital of Digital GlobalSoft on December 21, 2001 through market purchase. With this, the holding of Alliance Capital in five of its schemes has risen from 1,542,309 shares (4.71 per cent) to 1,642,309 shares (5.02 per cent).

Major fire at LIC Housing Finance's regional & corporate office at Mumbai

LIC Housing Finance Ltd has informed BSE that there has been a major fire at the company's registered and corporate office at Mumbai on December 21, 2001, causing large scale damages to office records, furniture, computers and electricals, etc. The company, however, believes that this event will not affect its profitability or important documents in respect of housing loan as it is maintained at the area offices.

Narang Industries Board allots shares on preferential basis

The Board of Directors of Narang Industries Ltd at its meeting held on Tuesday has made allotment of 0.25 million equity shares of Rs 10 each on preferential basis. With this, the paid share capital of the company stands increased from Rs 5,68,800 to Rs 5,93,800.

Merger of ABB associate Companies with ABB effective from Dec 24, 2001

Asea Brown Boveri Ltd has informed BSE that the amalgamation of ABB Associate Companies viz. Intron (India) Ltd, ABB Instrumentation Ltd, ABB Lenzohm Service Ltd & ABB Analytical Ltd with the Company is effective on Tuesday. As per the decision taken in the board meeting held on December 19, 2001, a Committee of the Board has been constituted to allot shares pursuant to the scheme of amalgamation. The said committee of directors is scheduled to allot shares at its meeting to be held on December 31, 2001.

LKP Merchant Financing Board approves MoU to transfer of money changing business to subsidiary

The board of directors of LKP Merchant Financing Ltd at its meeting held on Tuesday has approved, executed and signed the Memorandum of Understanding between the Company and M/s. LKP Forex Ltd, a 100 per cent wholly owned subsidiary for effecting the Transfer of Money Changing business to them. The transfer will be effective from such date the Reserve Bank of India gives its approval.

IT Microsystems Board resolves not to delete object clause relating to NBFCs

IT Microsystems (India) Ltd has informed BSE that the board of directors of the company at its meeting held on Tuesday has resolved not to delete the object clause relating to non banking finance companies.

Pioneer Embroideries Board approves formation of 100% subsidiary in UAE & Nigeria

The board of directors of Pioneer Embroideries Ltd at its meeting held on Tuesday has approved the formation of 100 per cent wholly owned subsidiary Company in UAE and Nigeria.

Hoganas India gets new Additional Directors

The board of directors of Hoganas India Ltd at its meeting held on Monday, has appointed the following persons as additional directors with effect from December 24, 2001. 1. Mr. Bjorn Peters 2. Mr. Sten Ake Kvist 3. Dr. Pierre Boisot The company has also informed that the following Directors have resigned at the aforesaid meeting: 1. Sudhir B. Shah 2. Mr. Beji Contractor

IFCI clarifies on news article

With reference to a news article appearing in a leading financial daily titled "IFCI in talks with ADB, CDC, KfW for strategic partnership', IFCI Ltd has informed BSE that on the basis of the Expert Committee Report on IFCI Restructuring, it has been suggested that the company should explore the possibility to induct a strategic partner for capital infusion. The company is now in discussions, which at the moment are preliminary and exploratory in nature, with some select international agencies/firms, in this respect, though nothing concrete has been finalised.

Balrampur Chini Mills Board approves buy-back at price not exceeding Rs 100 per share

The Board of Directors of Balrampur Chini Mills Ltd at its meeting held o Monday has approved the buy-back of company's fully paid equity shares of Rs 10 each out of free reserves not exceeding 10 per cent of the total equity paid up capital at a price not exceeding Rs 100 per share by way of purchase from the open market through stock exchanges.

Maars Software Board approves issue of GDR/ADRs on preferential basis

The board of directors of Maars Software International Ltd at its meeting held on December 21, 2001 has approved interalia the following: 1. To issue GDR's/ADR's or any other securities convertible into equity shares to the equivalent of 11 million shares through public issue(s)/private placements/or preferential allotment basis at a price not lesser than the price as per SEBI Guidelines. 2. To issue/offer equity shares or such other instruments convertible as equity shares not exceeding 3.50 million on private placement and/or preferential allotment basis at a price not lesser than the price as per SEBI Guidelines. 3. Change in accounting year from 1st January to 31st December to 1st April to 31st March. Consequently the financial year of the company 01.01.01 to 31.12.01 is being extended to 31.03.02.

GOI nominates Gurmeet Singh Uberai as Director on the Board of Bank of Baroda

In a communication issued to be BSE, Bank of Baroda has informed that Government of India, Ministry of Finance, Dept of Economic Affairs, Banking Division, New Delhi vide their Notification dated December 20, 2001 has nominated Shri Gurmeet Singh Uberai, Chartered Accountant, as part-time non-official Director on the Board of the Bank for a period of three years with effect from December 20, 2001.

High Court approves scheme of amalgamation of Alchemie Organics with Aarti Inds

Alchemie Organics Ltd has informed BSE that the petition and the scheme of amalgamation of the company with Aarti Industries Ltd has been approved by the Bombay High Court on December 21, 2001.

Dr. Reddy's acquires 6 brands from Group Pharmaceuticals; moves to No. 1 position in Dental segment

Dr Reddy's Laboratories Ltd has acquired Mumbai-based Group Pharmaceutical's entire range of six dental brands. This acquisition takes Dr Reddy's to the No 1 position in the dental segment as per CMARC's prescription audit. The acquired brands include the Stolin and Senquel ranges and Clohex mouthwash. As part of this deal, Dr. Reddy's has also acquired Group Pharma's marketing rights to Fittydent denture adhesive and denture cleaning system, currently under license from Fittydent international GmbH of Austria. The other brands to fall into Dr.Reddy's basket through this deal are S-flo, a fluoride mouth rinse, the Dologel range for treatment of oral tissue inflammation and Metrohex gel, which treats severe gum disease. The Stolin range includes Stolin-R, the only FDA approved paste for regular usage to maintain total oral hygiene and Stolin Gum Astringent, which has established itself as the original means to control gum disease. The Senquel range has Senquel-F, one of the top desensitizing brands in the market for highly sensitive teeth, and Senquel AD, a tooth desensitizer oral rinse. Clohex is currently the No 2 brand in the mouthwash market. The six brands add a total of 19 stock keeping units (SKUs) to Dr. Reddy's dental basket. While the proprietary rights to the six brands have been acquired by Dr. Reddy's, Group Pharma will continue to manufacture the products for Dr. Reddy's. MAPE Advisory Group, a merger & acquisition consulting firm, were the advisors for this deal.

BSE revises special margin on 47 scrips

BSE has informed members of the exchange that the following scrips will attract special margins as indicated hereunder with effect from Monday. 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 on the basis of clientwise gross purchase or sales position as indicated below: CODE NAME GROUP SP.MGR(PURCHASE)(%) 530707 AFTEK INFOSYS B1 25 531924 ALPS INFOSYS B2 25 20077 AMTEK AUTO B1 25 527007 ATCO INDUSTRIES B1 25 5506 AXON INFOTECH B2 25 32161 BAFFIN ENGINEER B2 25 532161 BAFFIN ENGINEER B2 25 3960 BHARAT BIJLEE B2 25 506390 COLOUR CHEM B1 25 20125 DESIGN AUTO B2 25 24170 DSQ BIOTECH B2 25 509028 E SERVE IN B1 25 32326 FORTUNE INFO B2 25 32312 GEOMETRIC SOFT B1 25 32296 GLENMARK PHARMA B1 25 32439 GOLDSTONE TELE B2 25 32175 INFOTECH ENTER B1 25 532175 INFOTECH ENTERP B1 50 32010 INOTECH CAPITAL B2 25 531816 IT MICROSYSTEM B2 25 532148 KOLAR INFOTECH B1 25 32400 KPIT INFOSYSTEM B1 25 531528 MAARS SOFTWARE B1 25 32337 MASCOT SYSTEM B1 25 32089 MOH B2 25 500288 MOREPAN LABS B1 25 20059 MUNJAL AUTO B2 25 20043 MUNJAL SHOWA B1 25 20021 OMAX AUTOS B1 25 31167 ORIENT INFOR B1 25 32350 PADMALAYA TELE B1 25 500321 PADMINI TELE B1 25 32387 PRITISH NANDY B1 25 17447 R S SOFTWARE B1 25 370 SALORA INTER B1 25 11076 SAT INVESTMENT' B2 25 24552 SHASUN CHEMICAL B1 25 12028 SHONKH TECHNOLO B2 25 31121 SIERRA OPTIMA B1 25 32274 SOFFIA SOFTWARE B2 25 511503 SYNERGY LOG IN B2 25 32358 TELE DATA IN B2 25 32375 TIPS INDUSTRIES B1 25 31830 TODAY'S WRITING B2 25 464 UCAL FUEL B1 25 532214 VISUALSOFTWARE B1 25 14162 WELSPUN B1 25

Texel Industries makes reference to BIFR following net worth erosion

Texel Industries Ltd has informed BSE that due to adverse industry scenario and the reason beyond the control of the management, the net worth of the company has been fully eroded by the accumulated losses at the end of the financial year 2000-01. As a statutory compliance, company has made reference to the BIFR according to the provision of SICA, 1985. The reference of the company has been registered Case No.433/2001.

Nath Seeds concludes strategic alliance with Biocentury Transgene

Nath Seeds Ltd has informed BSE that the company has concluded, strategic alliance with Biocentury Transgene (China) Co. Ltd., to bring transgenic technology in cotton crop in India on exclusive basis.

Exide Industries Board approves buy-back at a price not exceeding Rs 70 per share

The Board of Directors of Exide Industries Ltd, at its meeting held on Monady has approved the buy-back of shares upto ten percent of the paid up capital and free reserves of the company at a price not exceeding Rs 70 per share through the open market route.