Mastek Q3 results on April 12, 2001

A meeting of the Board of Directors of Mastek Ltd is scheduled to be held on April 12, 2001 to consider and take on record the Unaudited Financial Results of the Company for the third quarter and nine months ending March 31, 2001.

BPCL acquires 55.04% stake held by GOI in Kochi Refineries

Bharat Petroleum Corporation Ltd (BPCL) has informed BSE that the Company has completed the acquisition of Government of India (GOI) shares in Kochi Refineries Ltd. BPCL has acquired 7,58,89,660 equity shares from GOI, representing 55.04% of the paid up capital of Kochi Refineries Ltd. The said acquisition has been completed on March 26, 2001.

Parke Davis completes sale of its Saki Naka property for Rs 493 million

Parke Davis (India) Ltd has informed BSE that the Company has today (March 27, 2001) completed the sale of the Company's property at Saki Naka, Mumbai admeasuring approx. 52,000 square meters to M/s. A-Class Builders & Developers Pvt. Ltd for a consideration of Rs 493 million. The funds received on account of the sale would be utilised for the Company's business.

SRG Infotec defers delisting of shares from stock exchanges

SRG Infotec Ltd has informed BSE that at the Board of Directors of the Company at its meeting held today (March 27,2001) has decided to defer delisting of shares of the Company from The Stock Exchange, Ahmedabad; Calcutta Stock Exchange Asso. Ltd and Madras Stock Exchange Ltd. for the time being. Therefore, the record date fixed on March 16, 2001 for this purpose now stands cancelled.

Bharat Gears announces 10% Interim Dividend on privately placed preference shares

Bharat Gears Ltd has informed BSE that at its meeting held today (March 27,2001) the Committee of Directors have declared Interim Dividend at 10 per cent on 325000 11.50 per cent Cumulative Redeemable Non Convertible Preference Shares of Rs 100 each fully paid privately placed to IDBI Bank Ltd.

BPL Board authorises CMD to appoint consultants for proposed re-organisations

BPL Ltd has informed BSE that at its Board meeting held today (March 27,2001), the Directors have authorised Mr.Ajit G Nambiar, Chairman & Managing Director, to appoint Consultants/Experts in connection with the proposed re-organisation of Manufacturing Facilities and to decide on the terms of reference, fees for the assignment and all other matter connected therewith.

Bata India Q4 net profit down by 46.73%, FY 2000 net down by 48.79%

Bata India Ltd has posted a net profit of Rs 50.50 million in the quarter ended December 31, 2000 as compared to Rs 94.80 million in the same period last fiscal. Net Sales are down from Rs 1932.30 million in DQ 99 to Rs 1876.30 million in DQ 2000. Other Income for the quarter ended December 31, 2000 is at Rs 4.30 million as against Rs 3.40 million in the quarter ended December 31, 99. The Company has announced a net profit of Rs 156 million for the year ended December 31, 2000 as against a net profit of Rs 304.60 million in the same period last year. Net Sales are lower in FY 2000 at Rs 7192.20 million as compared to Rs 7315.70 million in FY 99. Other Income for the year ended December 31, 2000 is at Rs 11.40 million as against Rs 9.80 million in the year ended December 31, 99. The Company has also reported that Mr W K Weston resigned as Managing Director of the Company, Mr C Morzaria has been appointed as Managing Director for a period of 5 years. The Company has entered into an agreement with Bata Limited of Toronto, Canada for the supply of technical knowhow and services for a period of ten years from January 1, 2001. The Board of Directors of the Company has recommended a Dividend of Rs 1.50 per share for the financial year ended December 31, 2000.

NIIT appoints new Additional Director

The Board of Directors of NIIT Ltd, at its meeting held today (March 27, 2001) has approved the appointment of Shri Shardul S Shroff, Solicitor and Advocate, as an Additional Director of the Company. Mr Shroff is a practising lawyer and a managing partner with Amarchand & Mangaldas & Suresh A Shroff, Solicitors and Advocates. Mr Shroff has vast experience in the areas of Corporate Advisory, Joint Ventures, Project Finance, Corporate and Structured Finance, Insurance, Telecom, Merger and Acquisitions, Disinvestments and a large body of corporate advisory work across sectors. Mr Shroff holds position as a member on several High Powered Committees appointed by the Government of India on economic legislations.

Welspun India to seek members approval on preferential allotment

Welspun India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 23, 2001 has approved the proposal for obtaining members approval in their General Meeting, issue of Securities on preferential allotment basis of the aggregate amount of Rs 1000 million to FIs, Banks, Mutual Funds, Foreign Investors, NRIs, OCBs, FIIs and Promoters Group and Associates. The size of the issue of Securities to the Promoter Group and Associates shall not exceed Rs 250 million. The Proposal is however subject to such approval of the lending financial institution as may be necessary.

Fire at Pondicherry unit of Supreme Industries

Supreme Industries Ltd has informed BSE that there has been a fire at one of the buildings being used for painting, assembly and storage of goods at the Company's factory at Pondicherry. The fire took place on March 25, 2001. The fire has been brought under control and extinguished by late after noon on the same day. Though the exact loss due to fire is still to be ascertained, the same is estimated to be around Rs 50 million to Rs 60 million inclusive of damages to buildings, stocks, paint shop, etc. No casualties have been reported and all assets have been adequately insured. Dispatches of Goods from the said factory premises have since started on March 26, 2001 and production activities are likely to commence on the same date. Thus the Company has suffered production loss at the said factory, for less than two days, of about Rs 5 million.

Aztec Software enters into a Master Business Agreement with Microsoft

In further strengthening its relationship with Microsoft, Aztec Software and Technology Services Ltd and Microsoft have entered into a Master Business agreement. This agreement is a significant development since it is expected to open doors for Aztec to work other projects within Microsoft besides the SQL server group. As a first step towards this, Aztec has just signed on and started work on a new project with another division in the Company. The Company has also been working with the SQL Server Group of Microsoft for a few years now.

BILT fully redeems its 15% Non Convertible Debenture

Ballarpur Industries Ltd has informed BSE that the Company has fully redeemed its 15% Non-Convertible Debenture of Rs 300 each by paying the fifth and final redemption installment at Rs 60 per debenture alongwith interest for the period from October 01, 2000 to March 19, 2001. The said redemption has been made on March 20, 2001.

Electrolux Kelvinator Board approves amalgamation of Intron and Electrolux India

The Board of Directors of Electrolux Kelvinator Ltd has approved amalgamation of Intron Ltd. (IL) and Electrolux India Ltd. (EIL) with Electrolux Kelvinator Ltd. (EKL). The Draft Scheme of amalgamation is as follows : 1. Financial restructuring of the Company by way of reduction of issued, subscribed and paid-up equity share capital in the following manner : a. Issue of 2 equity shares of Rs 10 each credited as fully paid up in the merged entity for every 3 fully paid up equity shares of Rs 10 each in EKL. b. Issue of 1 equity share of Rs 10 each credited as fully paid up in the merged entity for every 3 partly paid up equity shares of Rs 10 each (Rs 5 paid up) in EKL. 2. Issue of 1 equity share of Rs 10 each fully paid up in EKL for every 4 equity shares of Rs 10 each fully paid up of IL and 1 equity share of Rs 10 each fully paid up for every 21 equity shares of Rs 10 each (Rs 5 paid up) in IL. 3. Issue of 4 equity shares of Rs 10 each fully paid up in EKL for every 5 equity shares of Rs 10 each fully paid up of EIL and issue of 1 preference shares Rs 100 each fully paid up in EKL for every 1 preference share of Rs 100 each fully paid up in EIL.

Max India Board approves divestment of 21% stake in Max-GB

The Board of Directors of Max India Ltd has passed a resolution by circulation for divestment of 21 per cent of the paid up equity share capital of Max-GB Ltd. held by the company to its joint venture partner, Gist Brocades International B.V., Netherlands for Rs.226.60 million. The Company would have a 5% equity stake in Max-GB Ltd. post the aforesaid divestment.

Sandvik Asia shareholders approve amalgamation of Titex India

Sandvik Asia Ltd has informed BSE that at the shareholders' meeting convened by the High Court, Mumbai held on March 21, 2001, the shareholders of the Company have approved scheme of amalgamation of Titex India Pvt. Ltd. with the Company.

CG Capital's stake in CTR Manufacturing Inds rises to 82.06%

CTR Manufacturing Industries Ltd has informed BSE that CG Capital & Investments Ltd (CGC) has acquired additional 1,91,978 equity shares representing 69.06% of the Company. Prior to this acquisition, CGC held 36,120 representing 13% of the equity shares of Rs 100 each. The said acquisition has been made on March 21, 2001. The shareholding of 1,91,978 equity shares representing 69.06% of the equity shares of the Company was earlier held by Crompton Greaves Ltd. CGC is a 100% subsidiary of Crompton Greaves Ltd. With this acquisition, CGC now holds 2,28,098 equity shares representing 82.06% of the equity share capital of CTR Manufacturing Industries Ltd.

Wimco Board to consider allotment of 4.50 million Redeemable Cumulative Preference Shares

Wimco Ltd has informed BSE that a meeting of the Board of Directors of the Company has been convened on March 30, 2001 for issue and allotment of 4.50 million 0.05% Redeemable Cumulative Preference Shares of Rs 100/- each cash at par to Svenska tandstickbolaget forsaljiningsaktiebolag (Svenska), a subsidiary of Swedish AB. This allotment is pursuant to the resolution approved by the shareholders at the Extra Ordinary General Meeting of the Company held on February 28, 2001 and the approval received from Foreign Investment Promotion Board (Secretariat of Industrial Assistance) Government of India.

Maars Software Board to seek members approval on proposed Preferential allotment

The Board of Directors of Maars Software International Ltd at its meeting held on March 26, 2001 after its approval has decided to refer inter-alia the following Agenda for the ensuing General Meeting of the Shareholders. 1. To consider a proposal for issue of equity shares on preferential allotment/Private Placement basis to various specified classes of investors. 2. To consider a proposal for alteration of Authorised Capital by inserting option for preference shares and to consider issue of preference shares, if required. 3. To consider a proposal for Sell, Lease or otherwise dispose off its any of the units as the Board may deem fit in case it may be required to do so.

Tata Chemicals Mithapur plant resumes production

Tata Chemicals Ltd has informed BSE that the Companys Chemical Complex at Mithapur has resumed production from March 24, 2001. The plant had been shut down due to fire in the Power House on March 2, 2001. The Company has stated that normalcy in operation will be restored in a phased manner. The Company has also reported that all the damaged assets were insured and the Company was also insured against loss of profit.

Dr Reddy's files for ADS with SEC, USA

Dr. Reddy's Laboratories Ltd has filed a registration statement with the Securities and Exchange Commission (SEC), USA, on Form F-1 relating to a primary offer of American Depository, Shares (ADS) Merrill Lynch & Co is the managing underwriter for the offer. Dr. Reddy's will offer 11,500,000 American Depositary Shares representing 5,750,000 Equity Shares. Dr. Reddy's Anticipates that the price to the public per ADS will be determined by reference to the prevailing market conditions. Our equity shares are traded on several Indian stock exchanges, including the Stock Exchange. Mumbai, or BSE and the National Stock Exchange, or NSE the principal stock exchanges India. On March 23, 2001. the last sale price of our equity shares as reported on the BSE was Rs 1,215.00 and as reported on the NSE was Rs 1,209.25 On a per ADS basis these are equivalent to US $13.00 per ADS and US$12.94 per ADS respectively, based on the Federal Reserve Bank's noon buying rate for that day.

Indian Oil Board approves acquisition of GOI stake in CPCL & BRPL

Indian Oil Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held today (March 26, 2001) has accorded its approval for purchase of the entire holding of the Govt. of India in Chennai Petroleum Corporation Ltd (CPCL) and Bongalgaon Refinery and Petrochemicals Ltd (BRPL) as per the following terms. 1. 7,72,65,200 equity shares of CPCL @Rs 65.92 per share amounting to Rs 509,33,21,984 being 51.81% of the total equity capital of CPCL. 2. 14,87,93,826 equity shares of BRPL @ Rs 10 per share amounting to Rs 148,79,38,260 being 74.46% of the total equity capital of BRPL. With the aforesaid acquisition of shares in CPCL and BRPL, both the Companies would become subsidiaries of the Company.

Carrier Aircon Q4 results on April 20, 2001

A Meeting of the Board of Directors of Carrier Aircon Ltd is scheduled to be held on April 20, 2001 to consider and take on record the Unaudited Financial Results of the Company for the fourth quarter ending March 31, 2001.

Indo Rama Synthetics Board allots shares to IFCI by conversion of Loan to equity

The Board of Directors of Indo Rama Synthetics (India) Ltd at its meeting held today (March 26, 2001) has allotted 1,02,70,000 equity shares of Rs 10 each at par as fully paid-up of an aggregate face value of Rs 102.70 million to IFCI Ltd by way of conversion of loan into equity, with effect from December 22, 2000 pursuant to IFCI Ltd exercising its option for such conversion. The aforesaid allotment has been pursuant to the provisions of Section 81(3) of the Companies Act, 1956.

Sierra Optima Board to review mitigation strategy in the light of US economy

A meeting of the Board of Directors of Sierra Optima Ltd is scheduled to be held on March 28, 2001 to consider the following : 1. To consider the communication received from Sierra Atlantic about their decision to drop the proposed investment in Sierra Optima warrants. 2. To review a mitigation strategy in the light of the evaluation in the US economy and its impact on the Company's revenues and profitability.

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