BSE revises special margin on 37 scrips

BSE has informed members of the Exchange that the following scrips will attract special margins as indicated hereunder with effect from November 19, 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. Special margins will be imposed on the basis of clientwise gross purchase or sales position as indicated below: CODE NAME GROUP (PURCHASE)(%)PER SHARE (SALE)(%)PER SHARE 512599 ADANI EXPORTS A 25 530707 AFTEK INFOSYS B1 25 508869 APOLLO HOSPITAL A 25 31541 AVON ORGANICS B2 25 5506 AXON INFOTECH B2 25 532161 BAFFIN ENGINEER B2 25 6285 BAYER INDIA B1 25 3960 BHARAT BIJLEE B2 25 13353 COCHIN MINERAL B2 25 32306 COMPUDYNE B1 25 24170 DSQ BIOTECH B2 25 509028 E SERVE IN B1 25 32312 GEOMETRIC SOFT B1 25 32296 GLENMARK PHARMA B1 25 24652 IND SWIFT B1 25 32175 INFOTECH ENTER B1 25 532175 INFOTECH ENTERP B1 50 24826 JUPITER BIOSCIE B1 25 532148 KOLAR INFOTECH B1 25 31692 KYHATI MULTI B1 25 32337 MASCOT SYSTEM B1 25 32089 MOH B2 25 500288 MOREPAN LABS B1 25 6954 MOTORALA SPEC B2 25 30367 NRB BEARINGS B1 25 20021 OMAX AUTOS B1 25 32027 RELIABLE PLASTI B2 25 11076 SAT INVESTMENT' B2 25 24552 SHASUN CHEMICAL B1 25 3811 SIYARAM SILK B1 25 31890 SNOWCEM INDIA B1 25 31764 SUPREME TELECOM B2 25 31830 TODAY'S WRITING B2 25 32035 UNISTAR MULTI B2 25 511431 VAKRANJEE SOFT B2 25 532214 VISUALSOFTWARE B1 25 14162 WELSPUN B1 25

Nripjit Singh Chawla to resign as MD (Healthcare) of Max India

In a communication issued to BSE, Max India Ltd has informed that an emergent meeting of the Board of Directors of the company has been scheduled for today (November 19, 2001) to accept the resignation of Mr Nripjit Singh Chawla as managing director (Healthcare) of the company with effect from December 1, 2001.

Dr. Reddys loses eligibility for 180-day exclusivity for Omeprazole 40 mg capsules

Dr. Reddy's Laboratories Ltd has announced it has received notification on November 16 from the US fond and Drug Administration (USFDA) that it is not eligible for the 180-day marketing exclusivity for Omeprazole 40 mg capsules. Dr Reddy's was the first company to file a patent challenge (Paragraph IV certification) to US patent No 4,255,431 listed for Omeprazole compound, which made it eligible for the 180-day exclusivity with respect to this patent. In its communication, the USFDA has advised Dr. Reddy's that it had lost its eligibility for the 180-day marketing exclusivity due to the occurrence of either the first commercial marketing of the drug or a decision of the court holding the patent. Which is subject of the certification, to be invalid or not infringed. The USFDA has also advised Dr.Reddy's that Andrx Pharmaceuticals has now been determined to be the first applicant with a Paragraph IV certification against all other listed patents for Omeprazole 40 mg capsules. While this is a disappointment, Dr. Reddy's will continue its strategy of filing patent challenge product applications for the development of its US Generics business. There is always a degree of uncertainty with respect to outcomes of patent challenges, but the Company expects to benefit significantly from the upside possibilities of this approach. In addition to the Company's ongoing patent challenges for Ciprofloxacin. Olanzapine and Ondansetron, several more are planned for filing in the current year. The Company's first patent challenge product, Fluoxetine 40 mg capsules, continues to perform strongly in the US market.

Grasim to acquire 25 million equity shares of L & T

The Board of Grasim Industries Ltd, a flagship company of the Aditya Birla Group has resolved to acquire 25.00 million equity shares in Larsen & Toubro Ltd from Reliance Industries Ltd. This transaction will represent just over 10% of the paid-up equity share capital of Larsen & Toubro (L&T) The shares are to be acquired at a price of Rs 306.60 per share, with a transaction value of Rs 7665.00 million funded mainly from internal accruals. This initiative represents a Strategic Investment by Grasim in what is India's premier Infrastructure Company. The Aditya Birla Group has identified Cement and Knowledge-intensive businesses, with a strong service orientation, as significant growth opportunities. L&T's portfolio of businesses is a perfect fit with this aspiration. L&T is recognised as a premier enterprise, Global in Competence and Indian in character. Notably, their Engineering & Construction business is a provider of solutions to the Infrastructure Sector, both in India and abroad; and their Cement business is the largest in India. Foreign exchange earnings constitute a significant part of the revenue stream. This strategic investment by Grasim is likely to enhance long-term shareholder value. JM Morgan Stanley has acted as the advisors to Grasim.

Cosmos Co-op Bank to deploy Finacle, Infosys Core Banking Solution

Infosys Technologies Ltd today (November 19, 2001) announced that Cosmos Cooperative Bank, the oldest and the second largest multi-state scheduled co-operative bank in the country based in Pune, Maharashtra, has signed up to deploy Finacle, Infosys' new generation core banking solution. The bank will deploy Finacle in a centralised model across all its branches. Cosmos chose Finacle after a detailed evaluation that included other global and local vendor solutions. Says Shashikant Bugde, managing director of Cosmos Cooperative Bank, "We believe that in the current highly competitive Indian banking scenario, a strong technology infrastructure, based on a centralised core banking platform, is the need of the hour. Once we started our search for a centralised core banking solution in earnest, it did not take us long to decide on the right product. Finacle which today has emerged as the defacto core banking standard in India was the obvious choice on both technology and functionality fronts. Partnership with Infosys, India's most respected company, and proven track record of smooth and rapid implementations of Finacle provided the additional comfort. We now look forward to quickly deploying Finacle, which will be a precursor to several new business and technology initiatives that we are planning to launch. We are confident that Finacle once deployed, will provide us a powerful and flexible new generation technology platform at par with the best banks in India to take onthe emerging competitive challenges, significantly improve our internal efficiency and productivity and offer our customers better service and new enriched experience." "We are extremely glad to partner with Cosmos Bank in their technology initiatives. Cosmos becomes the 12th bank in India to have opted for Finacle as its centralised core banking platform. Ever since its the launch in the year 2000 Finacle has enjoyed a dream run in the Indian centralised core banking market space with over 80% market share and an impeccable implementation track record. 9 out of the 12 banks that have signed up for Finacle since 2000 are already LIVE with the product. Finacle today offers the best of both the worlds to the Indian banks - a new generation global solution that fully meets the complex and unique Indian banking requirements. This coupled with Infosys commitment and our proven ability to implement rapidly provides banks in India a unique value proposition." said Girish Vaidya Sr VP and Head, Banking Business Unit, Infosys Technologies Ltd.

Tata Finance Board appoints Additional Directors

Tata Finance Ltd has informed BSE that the Board of Directors of the company at its meeting held today (November 19, 2001) has appointed Mr Ravi Parthasarathy, Mr Dinesh Vyas, Mr N A Soonawala and Mr U Mahesh Rao as Additional Directors of the Company.

High Court directs Pearl Global to seek shareholders approval for scheme of amalgamation

Pearl Global Ltd has informed BSE that, the Hon'ble High Court of New Delhi has directed company to hold a General Meeting of shareholders on December 10, 2001 for getting their approval for amalgamation of Pearl Clothing Ltd., Mina Exports Ltd. and Pearl Jewellery (I) Ltd with the company.

InfoTech Enterprises bags major order from Noida Power Co

InfoTech Enterprises Ltd has bagged a major order from Noida Power Company Ltd to deploy end to end integrated software solution for "Electrical network analysis package to be embedded within GIS". The project includes Total Network Mapping over the land base, Facilities Maintenance Management, Facilities Outage Management, Job Planning and Design, Trouble Call Management, Network Analysis. The project is planned with one Central server at the central office for updating of GIS Network Data and Network analysis and ten viewing and querying clients in the existing set up. The scope of the project includes, mapping of the entire electrical network being operated and maintained by NPCL. The application is WEB enabled and the remote users can access the data through the WEB. This is the first time ever any Power Distribution company in India has embarked on such a solution. InfoTech will implement GE Small world GIS solution and Power Technology Inc, along with PSS/Engines. The GUI based solution will provide ease of operation, improve operational efficiency and productivity by enabling network management as an online feature, including critical calculations of power flow analysis, voltage profile, system loss, etc based on the loading characteristics particular to an integrated electrical system. This is the first implemetation of GE-Smallworld in an Indian electricity utility. What is unique is also that the project not only builds the application around the product but also encompasses the complete end-to-end requirement of Noida Power right from land based mapping to seamless integration of complex Network Analysis data with GIS, SCADA and other back office operations like billing and inventory systems. Commenting on the order, Chairman & Managing Director, InfoTech Enterprises Ltd, Mr. BVR Mohan Reddy, said " We are very pleased with the order from NPCL for it is the first GIS implementation of Power Distribution industry in India. GE Small world, which has an extensive presence in the Power Sector worldwide, is an ideal choice for NPCL, a power distribution Company. At InfoTech, we believe that this is the beginning for many more implementations in the Industry Power Industry."

SmithKline Consumer Board to consider declaration of inerim dividend

SmithKline Beecham Consumer Healthcare Ltd has informed BSE that a meeting of the Directors will be held at corporate office of the Company on December 21, 2001 to consider the declaration and payment of a second interim dividend for the year ending December 31, 2001. The company has also fixed December 28, 2001 as the record date for the purposes of payment of the second interim dividend for the year ending 31st December, 2001, which if approved at the board meeting, dividend warrants in respect of the proposed dividend will be made payable on or before January 18, 2002.

Ananta C Kalita appointed as Director of SBI

State Bank of India has informed BSE that the Central Government has, in pursuance of clause (ca) of Section 19 read with sub-section (3A) of Section 20 of the State Bank of India Act, 1955 and in exercise of the powers vested under Rule 3 of State Bank of India (Appointment of Employee Directors) Rules, 1974, appointed Ananta Chandra Kalita, head assistant, State Bank of India as a director on the Central Board of the Bank, who are workmen, for a period not exceeding six months, commencing from November 13, 2001 or until he ceases to be an employee of the Bank, whichever is earlier.

Sierra Optima appoints new additional directors

Sierra Optima Ltd has informed BSE that Arun K Pujari and Krishna S Kodali have been appointed as additional directors of the company, in the Board Meeting held on November 16, 2001 at the Company's registered office.

Titan Industries Nominee Director resigns

Titan Industries Ltd has informed BSE that Hemant Kumar Sinha, nominee director of Tamilnadu Industrial Development Corporation Ltd has resigned from the Board of Directors of the company effective November 12, 2001, consequent to his transfer and posting as Secretary, Tamilnadu Public Service Commission.

Analjit Singh assumes role of CEO of Max India - Healthcare Division

Max India Ltd has informed BSE that at the emergent Board meeting held today (November 19, 2001), the Board of Directors has decided to recast Nripal Singh Chawla's role in the Company. Chawla will be giving up his position of Managing Director at Max India (Healthcare) effective December 01, 2001. Analjit Singh, chairman, Max India will assume the additional role of Chief Executive of Max India (Healthcare). Chawla will however, continue on the Board of Max India as a Non-executive Director and will assume the role of a consultant to Analjit Singh.