UTI Board approves proposal for making Mastershare86 open ended

The Board of Trustees of Unit Trust of India at its meeting held on December 23, 2002 has approved the proposal for making Mastershares issued under Mutual Fund (subsidiary) Unit Scheme 1986 Open ended subject to approval of SEBI.

JK Industries Board approves scheme of arrangement

JK Industries Ltd has informed BSE that the Board of Directors at its meeting held today (December 23, 2002) has approved the Scheme of Arrangement and Amalgamation where under the Company's Agri-Genetics business along with part of investments and the Sugar undertaking will be transferred by way of slump sale to JK Agrigenetics Ltd & JK Sugar Ltd respectively. There will also be a reorganisation of the Capital of the company and amalgamation of Vikrant Tyres Ltd (VTL) with JK Industries Ltd (JKIL) residual. The Board reviewed and revised the Share Exchange Ratio for the amalgamation to 9 fully paid Equity Shares of JKIL (Residual) for every 20 fully paid Equity Shares of VTL.

Aurobindo Pharma launches Cefepime

Aurobindo Pharma Ltd launches for the first time in India, Cefepime one of the most advanced antibiotics in the world. Cefepime is effective against both gram positive and gram negative pathogens including the pseudomonas and is life saving for the patients suffering from serious infections treated by Oncologists, Physicians & Surgeons. The pioneering research efforts are enabling Aurobindo to be a front runner in the Cephalosporin category. Antibiotics have emerged as a major therapeutic class in India with around Rs 35000 million sales. Amongst antibiotics, Cephalosporins are growing fast and at double pace than the market, because of their proven efficiency against different types of bacteria and their unparalleled safety.

Wipro allots Equity Shares under ESOS

Wipro Ltd has informed BSE the Board of Directors vide Circular Resolution effective December 23, 2002 resolved to issue and allot 9775 Equity Shares of Rs 2 each pursuant to exercise of Stock Options by eligible employees.

GOI nominates Ramesh Inder Singh on the Board of IPCL

Indian Petrochemicals Corporation Ltd (IPCL) has informed BSE that Shri Ramesh Inder Singh, Joint Secretary (Chemicals), Department of Chemicals and Petrochemicals nominated by the Government of India (GOI) in place of its earlier nominee.

G D Gaiha ceases to be a Director of MTNL

Mahanagar Telephone Nigam Ltd (MTNL) has informed BSE that Shri G D Gaiha, Director (Technical) ceases to be a Director of the Company.

Polaris Software Lab - Arun, Rajiv sill at the Indian Embassy in Jakarta, unable to return to India

Polaris Software Lab Ltd has announced today (December 23, 2002) that Arun Jain, CEO, Polaris Software, and Senior Vice President, Rajiv Malhotra, spent their fourth day today in the Indian Embassy in Jakarta. The Jakarta police are yet to return their passports, and the impasse continues. The understanding Mr. Amar Sinha, Charge d'Affaires, Indian Embassy in Jakarta, got from the Indonesian Foreign Affairs Ministry on December 20, 2002, is that the Indonesian Government too sees the dispute between Bank Artha Graha and Polaris as a commercial one only. This understanding is clearly what led the Indonesian Foreign Ministry to advise the Jakarta Police last Friday to release Arun and Rajiv. As expressed and clearly understood by both parties in the contract, the commercial dispute can be arbitrated and resolved only under Singapore law. A communication last week from the Jakarta Police to the Indian Embassy led the company to believe that the police would hand over the passports today (December 23, 2002). However the company has informed that at the time of issuing this communication, it has not yet received any firm indication on the return of passports. It now appears that Arun and Rajiv will have to wait longer in Jakarta.

GlaxoSmithKline Pharma enters into Agreement for sale of its entire shareholding in Meghdoot Chemicals

GlaxoSmithKline Pharmaceuticals Ltd has informed BSE that it has entered into an agreement for sale of its entire shareholding in Meghdoot Chemicals Ltd (MCL) together with its right, title and interest for the manufacturing business of MCL to Maneesh Pharmaceuticals Pvt Ltd.

Compudyne Winfosys Board approves Rights Issue

Compudyne Winfosystems Ltd has informed BSE that the Board of Directors at its meeting held today (December 23, 2002) considered the following: 1. The Board authorised Chairman & Managing Director of the Company to take appropriate action to enter into agreement with various agencies and to complete the legal formalities of Rights Issue. 2. Board has discussed in brief with regard to placement of Share Warrants and Preferential Allotment to Promoters/ relatives / friends and other associates. The Board authorised Chairman and Managing Director to call for Extraordinary General Meeting to take approval from the shareholders. 3. Mrs Sumitra Dahiya whole time directors has resigned and appointed as Non-Executive director with effect from January 01, 2003.

Mascot accorded BS7799 Security Certification

Mascot Systems Ltd has announced today (December 23, 2002) that it has secured the prestigious BS7799 Security Standards Compliance Certification. It also has the singular distinction of becoming the first Indian Company to be accorded this certification by KPMG, UK. The certification comes following a rigorous audit conducted by a 6-member team from KPMG, UK. The company was audited for security compliance on a comprehensive range of issues covering all critical systems, applications, networks, telecommunication links, human resources and information assets. The certification represents objective corroboration that information and information systems are being deployed and managed securely and appropriately.

Gestetner Board to review manufacturing business operations

Gestetner India Ltd has informed BSE that a meeting of the Board of Directors is scheduled on December 30, 2002 to review manufacturing business operations.

Banking and Payments Authority of Kosovo selects i-flex's FLAXCUBE

i-flex Solutions Ltd has today (December 23, 2002) announced that the Banking and Payments Authority of Kosovo (BPK), which functions as a Central Bank in Kosovo has selected i-flex's flagship product FLEXCUBE to centralize its banking operations. Banking and Payments Authority of Kosovo was established by the UN Mission in Kosovo and is responsible for licensing and supervision of banks and other financial institutions in Kosovo. "The BPK win is strategic for i-flex as we are entering a new territory. BPK already has seven banks under its purview and the number is expected to grow soon. As the banking sector emerges in this territory, FLEXCUBE is likely to gain entry in other banks as well as in banks from the neighboring countries," said, N K Raman, Senior Vice President, Global Sales, i-flex solutions. He also added "the results of evaluation by the UN team reinforces the choice made by other Financial Institutions in the region and globally in the fifty plus countries where FLEXCUBE is deployed."

Chettinad Cement fixes record date for rights issue

Chettinad Cement Corporation Ltd has fixed January 21, 2003 as the record date for the proposed rights issue in the ratio of 2:5 at a price of Rs 36 per share for determining the eligible shareholders of the company to receive the offer for the rights issue.

Indo Rama gets SRTEPC Special Award for Exemplary Export Performance

Indo Rama Synthetics India Ltd has been awarded the SRTEPC Special Award for the second highest overall export performance in India by the Synthethic & Rayon Textiles Export Promotion Council (SRTEPC) for the year 2001-2002. In addition Indo Rama was also conferred two additional awards- for highest export performance in Man-made Fibre Yarn Blended with Natural Fibre category and for recording the Highest exports to Latin America countries.

GDR Media Board defers decision on issue of equity shares on preferential basis

The Board of Directors of GDR Media Ltd at its meeting held today (December 23, 2002) discussed the subject matter of issue of equity shares on preferential basis. Some of the Board members sought more details on the proposed issue and felt that the subject needs further deliberation and hence it was decided to defer the subject for the time being.

INDAL initiates steps towards suspending the operations at its Alupuram, Kerala smelter

Indian Aluminium Company Ltd (INDAL) has informed BSE that it has initiates steps towards de-energising and suspending the operations at its aluminium smelter in Alupuram, Kerala with effect from January 01, 2003.

Standard Industries to seek members' approval for Capital Restructuring

Standard Industries Ltd has informed BSE that the Board of Directors at its meeting held today (December 23, 2002) decided to place before the shareholders at the ensuing Annual General Meeting a Special Resolution for adjustment of Deferred Revenue Expenditure against the Securities Premium Account and Share Capital Account subject to confirmation by the High Court and other approvals as necessary.

Bank of India to open representative office at China

Bank of India has informed BSE that it will be opening Representative Office at Shenzen, China tentatively on January 20, 2003. It is also proposed to open Bank's Representative Office in HO Chi Minh City, Vietnam for which the bank has received approval from RBI. The Bank has applied to the State Bank of Vietnam for necessary permission/license. The Bank has received approval from the Board on December 16, 2002 to open two new branches in Nairobi and has approached RBI for necessary permission. Process of merging Bank of India Finance Kenya Ltd 100% owned subsidiary of Bank of India with operations of Bank of India Kenya is likely to be completed by December 31, 2002 for which necessary approval from Central Bank of Kenya is already received.

Pearl Organics considers acquisition of various Brands

Pearl Organics Ltd has informed BSE that the Board of Directors at its meeting held on December 20, 2002 decided the following: - The Board of Directors has considered various brands proposed to be acquired and also the valuation report produced before the Board of Directors. - The value of brands to be acquired has been fixed approximately at Rs 48 million. However, it is recommended that the valuation shall be further supported by obtaining report from any other reputed valuer. - The equity shares of the Company shall be issued as a consideration for acquisition of said brands to the owners on a preferential allotment basis at a price to be determined in terms of SEBI Guidelines on preferential allotment. - The said allotment shall be after obtaining the approval of Extraordinary General Meeting (EGM) of the members of the company. The proposed date of EGM has been fixed as February 7, 2003.

Bajaj Auto Q3 results on January 15, 2003

Bajaj Auto Ltd has informed BSE that a meeting of the Board of Directors is scheduled on January 15, 2003 to consider, inter alia, the financial results for the third quarter ended December 31, 2002 (Q3).

Shipping Corporation to seek shareholders approval for sale/transfer of Maritime Training Institute

Shipping Corporation of India Ltd has informed BSE that the company is obtaining shareholders approval by way of Postal Ballot for sale/transfer of Company's Maritime Training Institute. The postal ballot should form reach the Scrutinizer on or before December 27, 2002. The results of the postal ballot would be declared on January 07, 2003.

GAIL India clarifies on news item

With reference to the news article appearing in a leading financial daily stating that Gail India Ltd will bid for acquiring controlling stake in Hindustan Petrochemical Corporation, the company has informed BSE that the matter has not been put up to the board for its consideration.

Sanyei Mediquip members approve bonus shares

Sanyei Mediquip Ltd has informed BSE that the shareholders, at the extraordinary general meeting held on December 16, 2002, have approved issue of bonus shares in the ratio of 1 bonus share for every 1 existing issued and subscribed equity share.

Amforge Industries directors resign

Amforge Industries Ltd has informed BSE that Shri Jagdish Khanna and Shri M P Bansal have resigned from the directorship of the Company with effect from November 29, 2002 and December 06, 2002, respectively.

Shasun Chem & Drugs denies news item

With reference to a News Item published in a leading financial daily regarding Export Order talks for Shasun Chemicals & Drugs Ltd, the Company has informed BSE that there is no truth in the article published and it denies the news item.

Filatex India to seek Secured Creditors' approval for scheme of arrangement

Filatex India Ltd has informed BSE that in terms of Order of the Bombay High Court, a meeting of the Secured Creditors of the Company viz. IDBI, IDBI Bank, ICICI and UTI has been convened on January 25, 2003 to consider and approve the Scheme of Compromise or Arrangement proposed to be made between the company and the aforesaid secured creditors.

Sindu Valley Technologies board approves rights issue

Sindu Valley Technologies Ltd has informed BSE that the Board of Directors at its meeting held on December 20, 2002 has decided to issue 5,00,000 Equity Shares of Rs 10 each to the existing Shareholders on rights basis in proportion of 5 new shares for every 7 shares held. The rights offer shall be for cash at par.

Shell Infotech board approves rights issue

Shell Infotech Ltd has informed BSE that the Board of Directors at its meeting held on December 20, 2002 has decided to issue 4,85,660 Equity Shares of Rs 10 each to the existing Shareholders on rights basis in proportion of 14 new shares for every 10 shares held. The rights offer shall be for cash at par.

Delisting of equity shares of Shree Krishna Paper Mills from the Stock Exchange, Ahemdabad

Shree Krishna Paper Mills & Industries Ltd has informed BSE that the company's equity shares have been delisted from the Stock Exchange, Ahemdabad.

Gleitlager India Management declares Lockout at Aurangabad factory

Gleitlager India Ltd has informed BSE that the workmen at its Aurangabad factory had resorted to toll down strike from October 23, 2002. Due to this the management has locked out the factory unit at Aurangabad from November 23, 2002 to prevent any damage to company's property from the erring workmen.

Archies Greetings & Gifts launches Express Wishes in Delhi in association with Blazeflash Couriers

Archies Greetings & Gifts Ltd has informed BSE that it has launched a value added service called "Express Wishes" in Delhi in association with Blazeflash Couriers Pvt Ltd through its Franchise network, to enable its customers to send greeting cards throughout India: - free of cost from December 20, 2002 to January 02, 2003. - At a subsidised rate after January 02, 2003.

United Breweries Board approves issue of Redeemable Optionally Convertible Preference Shares

United Breweries Ltd has informed BSE that the Board of Directors at its meeting held on December 21, 2002 has decided to issue 2,13,84,724 Redeemable Optionally Convertible Preference Shares (ROCPS) of Rs 100 each forming part of the Authorised Capital of the Company at par to the existing Equity Shareholders of the Company on "Rights" basis in the ratio of 6 ROCPS for every 5 Equity Shares held i.e. 6:5, through letter of offer. The Board has authorised the Share Transfer Committee to do all acts, deeds, matters and things that are required to be done in connection with the proposed "Rights" issue. The Company has also decided to convene an Extraordinary General Meeting to be held on January 21, 2003 for the purpose of confirming the terms of issue of ROCPS.

Opto Circuits India acquires Patient Monitoring Division from Palco Laboratories Inc, US

Opto Circuits India Ltd has informed BSE that it has acquired the Patient Monitoring Division from Palco Laboratories Inc, a US based Company that develops and markets medical products for Diabetes, Pediatric, Human Monitoring and Clinical Laboratory areas. Palco products have dominated the world market for many for their products. Opto Circuits would have access to a network of over 120 distributors worldwide through which these products would be sold. Opto Circuits (I) Ltd would be adding approximately 300 million to the turnover. It would be shifting the manufacturing line to India soon, for all products related to the monitoring division. This would be Opto Circuits (I) Ltd's third acquisition within the period of 2 years. During May 2001 it had acquired Advanced Micronic Devices Ltd which specializes in marketing of Critical Cardiac Care equipment, and during June 2002 it acquired the Digital Thermometer division of Hindustan Lever Ltd.

BSE revises Special Margin on 40 scrips

BSE has informed the members of the exchange that the following scrips will attract Special Margins as indicated hereunder with effect from today (December 23, 2002). The rates of Special Margins have been revised keeping in view the closing price of the scrip on the last trading day. Members are hereby informed that special margins will be imposed on the basis of memberwise gross purchase or sales position (clientwise net) as indicated below : Code Name Group Per Share(Purchase)(%) Per Share(Sale)(%) 531823 ARVIND REMEDY B1 25 25 531541 AVON ORGANIC B2 25 532113 BRIJLAXMI LE B2 25 508814 COSMO FILMS B2 25 512093 CRANES SOFTWARE B2 50 532099 DATABASE FIN B2 25 505200 EICHER MOTOR B1 25 500128 ELECTROSTEEL CA B1 25 530835 ELTROL LTD B2 25 506156 ETC NETWORK B2 25 532084 FAST TRACK E B2 25 511744 FCGL INDUSTRIES B2 25 532081 GARNET PAPER B2 25 506109 GENESYS INTER B1 25 503699 GEODESIC INF B2 25 507732 GODAVARI FERT B2 25 524652 IND SWIFT B1 25 500207 INDO RAMA SYN B1 25 532010 INDOTECH CAPITA B2 25 500213 INTER TRAVEL B1 25 531816 IT MICROSYSTEM B2 25 500223 JCT B1 50 532256 JINDAL STRIPS B1 25 532283 KASHYAP RADIANT B2 25 531692 KHYATI MULTI B2 25 500265 MAHARASHTA SEAM B1 50 524794 MATRIX LABOR B2 50 512267 MEDIA MATRIX B2 25 25 524101 NALCO CHEMICAL B1 25 532114 PAN PACKAGING B2 25 25 532117 PENTIUM INFOTEC B2 25 25 522205 PRAJ INDUSTRIES B2 25 531611 PRRANETA INDS B2 50 532055 RASHEL AGRO B2 25 25 513583 S B & T B1 25 512028 SHONKH TECH B2 25 532468 SRF POLYMERS B2 25 531554 TOP TELEMEDIA B2 25 530769 VEL SOFTWARE B2 25 524802 VERONICA LABS B2 25

Avon Organics enters into a long-term international contract with a Global MNC

Avon Organics Ltd has informed BSE that it has entered into a long-term international contract for supply of one of its products with a Global MNC. This is expected to contribute to the revenues of the company from next financial year.

IPCL - Chlorine escape on December 20, 2002 at Gandhar Complex

Indian Petrochemicals Corporation Ltd has informed BSE that on December 20, 2002 evening there was a minor chlorine escape from the caustic soda plant in Gandhar Complex. Isolated complaints of foul smell and irritation of throat were reported from plant personnel and nearby village Jogeshwar. The plant was immediately shut down and senior personnel from IPCL rushed to the site. The district collector, Bharuch also visited the site on December 21, 2002 morning. The situation is under control and the complex is operating normally.