Aparna Mafatlal appointed Additional Director of Mahamaya Investments

The Board of Directors of Mahamaya Investments Ltd at their meeting on June 29, 2001 has appointed Ms. Aparna Y. Mafatlal as an Additional Director of the Company.

P N Devarajan appointed additional director of Search Chem

The Board of Directors of Search Chem Industries Ltd has appointed Mr. P.N.Devarajan as an additional Director on the Board of the Company, in their meeting held on September 11,2001.

Wyeth Lederle evaluating possibility of merger of Geoffrey Manners

Wyeth Lederle Ltd. has informed BSE that the Board of Directors at its meeting on September 18, 2001, considered various options for introduction of new OTC products and line extensions of existing OTC products from the portfolio of Whitehall International Inc. (Whitehall), a subsidiary of American Home Products Corporation (AHPC). The OTC business of Whitehall in India is presently with Geoffrey Manners & Company Ltd (GM), an affiliate of AHPC. Accordingly, the Company is evaluating, the possibility of a potential merger of GM with Wyeth and the resultant synergies. This option is presently at an exploratory stage and will be pursued only if found beneficial to both Companies.

Cadila Healthcare & Kopran enter into a strategic alliance for marketing & manufacturing

Zydus Cadila, India's fourth largest healthcare company and Mumbai-based Kopran Ltd, have entered into a strategic alliance in the areas of marketing and manufacturing of formulation brands and collaborative research projects. As a part of this arrangement, Kopran has perpetually assigned its anti-hypertensive brand Aten to Zydus Cadila for a consideration of Rs 750 million. The product will be manufactured at Kopran. As per the agreement reached, Kopran will also co-market Zydus Cadila's new products in the diabetes, CNS and other speciality segments. The products decided upon include Olanzapine (Olzep), Zolipidem (Zopiz) and anti-diabetic Glimepiride (Gliran). With this, Zydus Cadila becomes the No.1 player in the cardiovascular segment with a turnover of over Rs. 1000 million and a market share of 8.3 % in the segment. In fact, Zydus Cadila outstrips the current No. 1 player in the cardiovascular segment by nearly 20%. The strategic pact also helps in Kopran entering the fast growing segments of CNS and diabetology. Zydus Cadila and Kopran will also undertake efforts to research new molecules and commercialise them. Kopran Research Laboratories has already filed two patents KNC-6 (an anti-ulcerant) and KNC-1206 (a bulk laxative) and completed advance pre-clinical studies based on a platform technology. A separate technology transfer agreement was entered into for transfer of technology for zero impurity Atenolol which includes milestone payments totalling Rs. 200 million. Aten (Atenolol) is the largest brand in the cardiovascular segment. Aten today ranks within the top 50 Indian Pharma brands. The brand is ranked 33 with a market share of 39% in its category and a growth of 18%(ORG data for the month of July 2001). The brand's present turnover is Rs 370 million. The group will finance the acquisition partly through debt and partly through internal accruals. Elaborating on this strategic alliance initiative, Managing Director of Zydus Cadila Mr Pankaj R Patel said, " Our strategy over the last few years has been to identify and export opportunities that can make a significant difference to our topline and bottom line growth. This strategic pact strengthens our core areas and reinforces our market presence. We saw Aten as a good fit in terms of its size and presence in the cardiac care market. It will certainly add value and help consolidate our cardiac-care portfolio. Mr Surendra Somani Managing Director of Kopran Ltd, has said that with Aten in Zydus Cadila's fold, Kopran would have phenomenal opportunity to introduce new products and enter new therapeutic groups. While on one hand Aten would grow faster in the hands of Cadila, Kopran would be able to achieve higher growths through its strategy of launching new products.

R K Poddar to acquire 1.80% equity of Aravali Securities

Aravali Securities & Finance Ltd has informed BSE that Ranjan Kumar Poddar (HUF) has proposed to acquire 2,73,000 (1.80%) equity shares of the company from Mr.Bijay Kumar Pasari - Proprietor and M/s. Bijay Paper Trading Co. His holding after acquisition will be 10,29,706 (6.795%) equity shares of the company. The sale of equity shares will be at a price of Rs.1.30 per share or price on the date of acquisition at Stock Exchange. Date of proposed acquisition is 20.09.2001 or thereafter.

Adelphia Vision allots equity shares under ESOP

Adelphia Vision India Ltd has informed BSE that at the AGM held on September 14, 2001, the following business was transacted :- Increase in Authorised share capital of the company from Rs.5,00,00,000 to Rs.7,50,00,000. Issue and allotment of 20,00,000 equity shares of Rs.10 each to Directors and Employees as per the provisions of the SEBI (ESOS and ESPS) guidelines, 1999. Grant of 5,00,000 stock option to Mr.Salim Govani an employee and director of the company out of ESOS. Grant of 7,80,000 stock option to Ms.Seher Bedi an employee and director of the company out of ESOS. Grant of 5,00,000 stock option to Mr.Vinod Sethi an employee and director of the company out of ESOS.

Castrol to consider amalgamation of Tata-BP Lubricants

Castrol India Ltd has informed BSE that a meeting of the Board of Directors of the company will be held on September 20, 2001 to consider the Scheme of Amalgamation of Tata-BP Lubricants (India) Ltd with the Company.

Siemens divests its stake in SPCNL

Siemens Ltd has informed BSE that pursuant to the Buyback Offer from Siemens Public Communication Networks Ltd (SPCNL), it has partially divested its stake by offering for Buyback, 22,00,000 equity shares of Rs 10 each @ Rs 61 per share for a total consideration of 134.2 million. Consequently, Siemens Ltd's holding in SPCNL has reduced from 53,25,000 Shares (30%) to 31,25,000 (approximately 20%) equity shares of Rs 10 each.

High Court approves Scheme of Amalgamation of Chemfab Chlorates with Chemfab Alkalies

Chemfab Alkalies Ltd has informed BSE that the Hon'ble High Court of Chennai has approved the Scheme of Amalgamation of Chemfab Chlorates Ltd., with the company w.e.f. April 01, 2000.

HFCL clarifies on news item

With reference to the news article appearing in a leading financial daily titled " HFCL, Kerry Packer end e-comm venture" Himachal Futuristic Communications Ltd has informed BSE that the proposed Joint Venture with Kerry Packer Group for E-Commerce activity has not been taken off.

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