Raunaq Automotive Components announces change in management structure

Raunaq Automotive Components Ltd has informed BSE that following changes have taken place on its Board: Mr Sanjiv Nair has been nominated by PICUP as the Chairman & Director of the Company in place of Mr D S Bains w e f July 12, 2002. Mr Akhil Swami has been nominated by PICUP as the Director of the Company w e f July 10, 2002.

Finolex Industries to consider buy-back

A meeting of the Board of Directors of Finolex Industries Ltd is scheduled to be held on July 27, 2002 to consider buy-back of equity shares of the company.

Voltas Q1 results on July 30, 2002

Voltas Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 30, 2002 to take on record the unaudited financial results of the Company for the first quarter ended June 30, 2002.

Essar Steel Board postpones conversion of promoter's loans into equity shares

Essar Steel Ltd has informed BSE that the Board after discussion at its meeting held today (July 19, 2002) has decided to postpone, for the time being, the matter of conversion of promoter's loans and other unsecured loans into equity shares.

Max India Q1 results on July 30, 2002

Max India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 30, 2002 to consider and approve the audited annual accounts of the Company for the year ended March 31, 2002 and to consider declaration of dividend. The said meeting shall also take on record the unaudited financial results for the quarter ended June 30, 2002.

Cummins India Q1 results on July 27, 2002

A meeting of the Board of Directors of Cummins India Ltd is scheduled to be held on July 27, 2002 inter alia, to take on record the unaudited financial results for the quarter ended June 30, 2002.

Gujarat Ambuja fixes Book Closure for dividend

Gujarat Ambuja Cements Ltd has fixed August 20, 2002 to August 30, 2002 as Book Closure Date for payment of final dividend to the shareholders as may be approved by the Board of Directors.

Crisil Q1 net up by 11.58%

Credit Rating Information Services of India Ltd has posted a net profit of Rs 31.51 million for the quarter ended June 30, 2002 as compared to Rs 28.24 million for the quarter ended June 30, 2001. Total Income has increased from Rs 134.10 million in JQ-01 to Rs 150.84 million in the quarter ended June 30, 2002. The consolidated results are as follows: The Profit after tax is at Rs 31.30 million for the quarter ended June 30, 2002 as compared to Rs 22.86 million in the quarter ended June 30, 2001. Total Income has increased from Rs 135.23 million in JQ-01 to Rs 160.79 million in the quarter ended June 30, 2002.

Pritish Nandy Communications Board to consider preferential issue

Pritish Nandy Communications Ltd has informed BSE that the meeting of the Board of Directors of the Company is scheduled to be held on July 25, 2002 inter alia to consider amongst other business the following matters: 1. To take on record the unaudited financial results of the Company for the quarter ended June 30, 2002 2. To approve the notice of EGM to be convened for increase of Authorised Capital of the Company and issue of equity shares of the Company on a preferential basis.

Century Textiles & Industries Q1 results on July 31, 2002

Century Textiles & Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on July 31, 2002 to consider and take on record the unaudited financial results (provisional) of the Company for the first quarter ended June 30, 2002.

Indian Hotels Company Q1 net profit at Rs 20.20 million

Indian Hotels Company Ltd has posted a net profit of Rs 20.20 million for the quarter ended June 30, 2002 as compared to Rs 120.80 million in the corresponding period last fiscal. Total Income has decreased from Rs 1631.40 million in JQ-01 to Rs 1177.70 million in the quarter ended June 30, 2002. Figures for the quarter ended June 30, 2001 without the Taj Air Catering Business Division are as follows: Net profit of Rs 95.80 million and Total Income of Rs 1321.50 million The operating performance of the Company reflects the impact of recent border tensions and resultant travel advisories to India imposed by various countries. While the performance in the months of April and May 2002 was almost equal to the same period in the previous year, the performance in the month of June 2002 was adversely impacted by the travel advisories. The financial results for the quarter ended June 30, 2002 are not comparable with the same period in the previous year since the Company transferred its Taj Air Catering business division (TAC) to a Joint Venture Company with Singapore Airport Terminal Services (SATS) with effect from September 30, 2001. Results for the quarter ended June 30, 2001 have also been presented without Air Catering business division, based on unit and management accounts, in order to facilitate proper comparison.

Colgate-Palmolive India Q1 results on July 29, 2002

Colgate-Palmolive India Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on July 29, 2002 to take on record the unaudited financial results (provisional) for the quarter ended June 30, 2002.

Hughes Tele.com President & CEO resigns

Hughes Tele.com India Ltd has informed BSE that Mr George Varghese, President & Chief Executive Officer, has resigned from the services of the company wef July 19, 2002. Mr Vivek Sett, Chief Financial Officer of the Company will take charge from Mr Varghese.

United Phosphorous Q1 net up by 58.49%

United Phosphorous Ltd has posted a net profit of Rs 46.93 million for quarter ended June 30, 2002 as compared to Rs 29.61 million for quarter ended June 30, 2001. The total income has increased from Rs 1085.48 million for the quarter ended June 30, 2001 to Rs 1452.09 million for the quarter ended June 30, 2002.

HCL Tech makes strategic investment in Aquila Technologies

HCL Technologies on Friday announced that it has acquired, through one of its subsidiaries, a 35.5% stake in Aquila Technologies Pvt. Ltd, India. Aquila is a Bangalore based software solutions provider in the areas of Engineering software and services like CAD/CAE PDM/CPC, Virtual engineering frameworks, Visualisation, Image Processing and Computer Game Development. The Company has 51 employees with focused skills in these defined areas, operating offshore from Bangalore, catering to both the domestic and the export market. Aquila has proven software development capabilities and the ability to use tools and packages to deliver engineering services. The existing management of Aquila will continue to work with HCL Tech. The alliance will thus augment HCL Tech's engineering software and services expertise while providing new skills in the area of image processing and computer game development. HCL Tech will be able to leverage Aquila's skill to add engineering service opportunities within its own customer base to create a formidable practice in Engineering software and services, image processing and computer game development. In the current transaction, HCL Tech is acquiring 35.5% stake in Aquila for a consideration of Rs 55.5 million. HCL Tech will acquire the balance stake in 3 equal tranches over a period of three years. The purchase consideration for the same is based on the achievement of certain milestones linked to the growth and profitability of Aquila. Bejoy George, General Manager, Strategic Initiatives, HCL Tech, added, "We have been seeking an alliance in the CAD/CAE space to grow HCL Tech's business. In Aquila we perceive a synergistic fit with our strategy and organization culture and recognize the potential for significant value creation for HCL Tech customers. Aquila caliber and skill sets are at par with established players in this space and we believe their manageable size will facilitate a quick and easy integration within the HCL Tech organization."

Ranbaxy Laboratories fixes record date for interim date

Ranbaxy Laboratories Ltd has informed BSE that August 20, 2002 has been fixed as the Record date for determination of entitlement of interim dividend for the year 2002.

Stelco Strips to consider issue of equity shares on preferential basis

A meeting of the Board of Directors of Stelco Strips Ltd is scheduled to be held on July 29, 2002 to consider the size, price and other details for issuance of equity shares on preferential basis and convening of EGM for approval.

SSI to restructure- training and software services to be run separately

The Board of Directors of SSI Ltd on Friday resolved to restructure the operations of the company to run the software services and training businesses separately. The board has also formed a sub-committee comprising Mr T K Bhaskhar and Mr K Vaitheeswaran to advise them on the options available to complete this process. "The restructuring will facilitate new initiatives to develop the full potential of each business without impacting the other," says Kalpathi Suresh Chairman & CEO SSI Ltd.

Mirc Electronics FY-02/Q1 results on July 29, 2002

Mirc Electronics Ltd has informed BSE that the petition for the amalgamation of Onida Infotech Services Ltd (wholly owned subsidiary) with the Company was scheduled for hearing in the High Court of judicature on July 18, 2002. Due to some non-compliances on the part of the office of ROC and the Regional Director, the Hon'ble Judge, on their request, adjourned the hearing to August 01, 2002. Hence the Board of Directors of the Company has decided to adopt the unaudited financial results on July 29, 2002. Accordingly the Company has informed that the meeting of the Board of Directors will be held on July 29, 2002 to consider inter alia the unaudited financial results for the quarter ended March 31, 2002 year ended March 31, 2002 and quarter ended June 30, 2002.

McDowell & Co Q1 results on July 29, 2002

A meeting of the Board of Directors of McDowell & Co Ltd is scheduled to be held on July 29, 2002 to consider inter alia: The unaudited financial results provisional for the quarter ended June 30, 2002. The Audited Accounts for the year ended March 31, 2002 and recommendation of dividend if any.

SRG Infotec Board meeting update on SEBI order

At the meeting of the Board of Directors of SRG Infotec Ltd held on July 16, 2002 the following decisions were taken. Regarding order dated June 04, 02 by SEBI The Board discussed the order in detail and unanimously admitted that the company had complied with the provisions of SEBI 1997 in toto. Board of Directors concluded that SEBI has passed the order disallowing the exemption from Regulation 10 of SEBI that was available for preferential allotment under its regulation 3, whereas there was no default as far as SRG Infotec Ltd was concerned. Board resolved to offer full co-operation to the erstwhile owners of Silicon Valley Information Corporation which they may require in future course of action pursuant to the order passed by Securities Exchange Board of India. The Board resolved to enter into the business of General Insurance, Housing Finance and Lottery (any kind) and authorised Mr Sandeep Bansal whole time director to do the needful in this connection at the earliest.

Polaris Q1 results on July 29, 2002

Polaris Software Lab Ltd has informed BSE that a meeting of the Board of Directors of the Company has been convened on July 29, 2002 to consider and approve among other things the unaudited quarterly accounts of the Company for the period ended June 30, 2002

Zee Tele clarifies on news item

With reference to news item appearing in a leading financial daily Zee Telefilms Ltd has informed BSE that the company does not admit any liability to AIMS Telefilms Ltd but to the contrary the company has certain claims against AIMS Telefilms Ltd. The company is in the process of initiating necessary legal action to recover its dues. The contents of the news item appearing in the financial daily are factually incorrect and misleading to the above extent.

Surat Electricity Company Q1 net up by 32.70%

Surat Electricity Company Ltd has posted a net profit of Rs 43.94 million for the quarter ended June 30, 2002 as compared to Rs 33.11 million for the corresponding period last fiscal. Total Income has increased from Rs 1714.45 million in JQ-01 to Rs 2106.08 million in the quarter ended June 30, 2002.

Surat Electricity fixes record date for Bonus issue

Surat Electricity Company Ltd has fixed August 22, 2002 as the record date for the purpose of determining the shareholders entitlement to the bonus shares to be issued in the proportion of one equity share for every one equity share held as approved by the shareholders at the AGM of July 19, 2002

Nicholas Piramal Q1 net up by 71.06%

Nicholas Piramal India Ltd has posted a net profit of Rs 311.50 million for the quarter ended June 30, 2002 as compared to Rs 182.10 million for the corresponding period last fiscal. Total Income (net of excise) has increased from Rs 1928.90 million in JQ-01 to Rs 2420.70 million in the quarter ended June 30, 2002. The Results for the Quarter ended June 30, 2002 are not strictly comparable with the figures of the corresponding period of the previous year as the current quarters figures include the operation of pharma division of ICI India Limited acquired by the company.

Nava Bharat to consider spinning off Ferro Alloy Plant

The Board of Directors of Nava Bharat Ferro Alloys Ltd is scheduled to be held on July 27, 2002 to consider the following: 1. Consideration of unaudited financial results of the quarter ended June 30, 2002 2. To consider variation of rights of preference shareholders in regard to redemption by way of issue and allotment of fully paid up equity shares of Rs 10 each at a premium to be arrived at in conformity with guidelines of SEBI for preferential issue 3. Spinning off Fero Alloy Plant at Raipur. 4. Forfeiture of equity shares for non-payment of allotment money.

Hindalco clarifies on news item

With reference to a news item appearing in a leading financial daily, Hindalco Industries Ltd has informed BSE that as of date no proposal to bid for NALCO jointly with Alcoa has been placed before the Company's Board for consideration.

Tata Telecom Q1 net up by 34.97%

Tata Telecom Ltd has posted a net profit of Rs 15.92 million for the quarter ended June 30, 2002 as compared to Rs 11.80 million for the corresponding period last fiscal. Total Income has increased from Rs 419.96 million in JQ-01 to Rs 596.68 million in the quarter ended June 30, 2002.

Mascot Systems Q1 net down by 39.91%

Mascot Systems Ltd has posted a net profit of Rs 78.60 million for quarter ended June 30, 2002 as compared to Rs 130.80 million for corresponding period last fiscal. The total income has decreased from Rs 1127.70 million in JQ 2001 to Rs 928.40 million in JQ 2002. The consolidated results are as follows: The Company has posted a net profit of Rs 80.60 million for quarter ended June 30, 2002 as compared to Rs 131.60 million for quarter ended June 30, 2001. The total income has decreased from Rs 1137.70 million in JQ-01 to Rs 937.60 million in JQ-02. Gerhard Watzinger, CEO, Mascot Systems, said: Q1FY 2003 has been an encouraging period characterised by a healthy pipeline of client engagements and strong growth across key operating parameters. We extended our presence to new geographies, enhanced human resource strength, appointed key individuals to the Advisory Board, achieved an encouraging trend in the number of live projects and improved our profitability margins by implementing various efficiency led initiatives. Given our current progress combined with the initiatives undertaken in the past, we remain confident of achieving business growth in the future"

Hughes Software Systems teams with Surf to provide an integrated Media Gateway Development Kit for Motorola's StarCoreŽ based DSPs

Hughes Software Systems (HSS) and Surf Communication Solutions, a leading supplier of embedded network convergence software announced the forthcoming availability of an integrated Media Gateway solutions for carrier class and enterprise applications designed for operation on Motorola's Starcore-based Digital Signal Processors (DSP). Targeted at the original equipment manufacturers (OEMs) serving the IP Technology market, the integrated solution provides a complete tool set for developing Media Gateways for convergent packet voice, modem and fax services. The reference platform tool kit includes hardware reference designs, DSP software and control and management stack software. Hughes Software Systems Ltd specialist in Convergent Network software, is a leader in providing GPRS, UMTS as well as VoP software. HSS's MEGACO based Protocol Framework for Media Gateway has been integrated with SURF's DSP Software configured for Motorola's StarCore-based DSPs and was demonstrated at the Seattle Voice On the Net Spring conference in April 2002. "Hughes Software Systems is focused on delivering highly integrated and proven solutions that enable OEMs to decrease time-to-revenue and focus on value-added applications," said Manoranjan Mohapatra, Chief Operating Officer of HSS. "We are happy to be collaborating with Motorola and Surf to provide a working concept of the Media Gateway solution. In providing the proven building blocks to our customers, we see them greatly benefiting by cutting down their time to revenue."

Andhra Pradesh IT Training Order for NIIT

The Government of Andhra Pradesh took yet another lead in promoting IT in the State on Friday. Over 0.30 million students pursuing their high school education in 663 government schools will get trained in computers by Asia's biggest and the most respected IT training institutions, NIIT. The training order involves setting up 663 modern computer classrooms with over 8000 computers and implementation of computer education in high schools in the State. NIIT was successfully awarded the contract, through an open tender process front ended by Andhra Pradesh Technical Services. "Under the leadership of Andhra Pradesh Chief Minister Chandrababu Naidu, the State has taken lead over others in launching several e-governance projects, including computerisation and single point access to the state's land records," said Dr I V Subba Rao, Secretary Education Govt. of Andhra Pradesh. NIIT Chairman Rajendra S Pawar said,"The fact that 300,000 students in Andhra Pradesh schools shall be looking upon us day after day to shape their future puts on our shoulders a big responsibility and propels us to do our best." The agreements for this five year Rs 1550 million assignment were exchanged between AP Education Secretary Dr I V Subba Rao and NIITs Head of K-12 Business and Senior Vice President L Balasubramanian This assignment will lead to the creation of over 1300 new jobs in a span of just 30 days. NIIT will also create computer books, provide competent faculty and begin training of students in the academic year 2002. A web site for each group of schools will be created. NIIT will also work towards enhancement of the skill base of Andhra Pradesh by using these schools to provide state-of-the-art computer education to local citizens in the post school hours. NIIT will be fully leveraging its expertise in Systems Integration, Educational Process Management, Project Management, Infrastructure Planning and Digital Content Creation for successful execution of this project.

Cipla fixes Book Closure for AGM

Cipla Ltd has informed BSE that the Register of Members and Share Transfer Books of the Company shall remain closed from August 20, 2002 to September 04, 2002 (both days inclusive) for the purpose of AGM and determining the persons entitled for dividend, if any for the year ended March 31, 2002.

Madras Cements Q1 results on July 29, 2002

A meeting of the Board of Directors of Madras Cements Ltd is scheduled to be held on July 29, 2002 to take on record the unaudited financial results for the quarter ended June 30, 2002.

Visesh Infosystems to allot shares on preferential basis

Visesh Infosystems Ltd has informed BSE that the Board of Directors of the Company has decided to allot 3,750,000 equity shares on preferential basis to Infotecnics India Ltd in part consideration of acquisition of business thereof subject to the approval of members of the Company in the EGM to be held on July 25, 2002

Zee Tele Q1 Consolidated net up by 31.03%

Zee Telefilms Ltd & its subsidiaries net profit for the quarter ended June 30, 2002 is at Rs 476.70 million as compared to Rs 363.80 million in the corresponding period last fiscal. Total Sales & Services have increased from Rs 2335.10 million in JQ-01 to Rs 2488 million in the quarter ended June 30, 2002. Plans & Outlook During April, Zee has started a separate encrypted broadcast beam for Zee TV in the Middle East, Pakistan, Bangladesh and Nepal which has started to open up these markets for their full advertising potential on the channel and for enhanced pay revenues. The separate beam allows Zee TV to tailor content to coincide with prime-time in different markets while concurrently valuing air-time inventory at locally relevant and competitive rates. Zee Music is being transformed into a 100% interactive channel and is expected to air its new avatar towards the later part of this year. Zee English has acquired the latest series (Season 8) of Friends and Mad About You and continues to offer cutting edge content for English speaking audiences.

Patels Airtemp to seek shareholders approval for Scheme of Arrangement

Patel Airtemp India Ltd has informed BSE that the Hon'ble High Court of Gujarat at Ahmedabad has directed that a meeting of equity shareholders/secured creditors/ unsecured creditors of the Company be called on August 17, 2002 for considering and if thought fit, approving with or without modification the arrangement embodied in the Scheme of Arrangement and Restructure of the Company in the nature of De-merger and transfer of Vatva Division to Patels Airflow Ltd.

Wipro Q1 PAT down by 5.15%

Wipro Ltd has posted a profit after tax of Rs 1970 million for the quarter ended June 30, 2002 as compared to Rs 2077 million in the quarter ended June 30, 2001. The net profit for the quarter ended June 30, 2002 is at Rs 1665 million, which is after considering an extraordinary/non recurring expense of Rs 305 million. Total income has increased from Rs 8162 million in JQ-01 to Rs 9261 million in the quarter ended June 30, 2002. The consolidated results are as follows: The company has posted a net profit of Rs 1627 million for quarter ended June 30, 2002 as compared to Rs 2139.80 million for quarter ended June 30, 2001. The total income (net of excise) has increased from Rs 8197.70 million in JQ-01 to Rs 9452.27 million in JQ-02.

Wipro issues outlook for quarter ended September 2002

Azim Premji Chairman of Wipro commenting on the results said, " This quarter we saw our strategic plan translate to business initiatives. On the acquisition front, we completed two transactions, Spectramind and GE Medical Systems Information Technologies. Looking ahead for the quarter ending September 2002, we expect revenue from IT services to be approximately $135 million, including revenue from Healthcare and Life Science of $3 million. Revenue from Spectramind is estimated at $ 8 million for the quarter ending September 2002. Both the transactions are expected to be completed in July 2002. Vivek Paul, Vice Chairman and CEO Wipro Technologies, Global IT Business added, " Our performance for the quarter was in line with our expectation on strong volume growth, pricing environment and margin pressure. During the quarter we won a $20 million five year contract for a UK based Utilities Company to remote manage 350 heterogeneous servers, 3200 network elements and 44 databases spread across 118 locations in UK and Ireland."

Dr Reddy's announces ANDA filing for Terbinafine tablets

Dr Reddy's Laboratories Ltd today (July 19, 2002) announced that the company has filed an Abbreviated New Drug Application (ANDA) with the US Food and Drug Administration for Terbinafine HCI tablets equivalent to 250 milligram base with a Paragraph IV certification on the 4,755,534 patents. Dr Reddy's notified Novartis Corporation, upon which the latter filed a lawsuit against the company in the United States District Court for the Southern District of New York, alleging patent infringement on the 534 patent. Dr Reddy's believes that it has the first-to-file status for the product and if successful in its litigation, would enjoy a 180 day marketing exclusivity. Terbinafine HCI is the generic version of Novartis' Lamisil. It is indicated for the treatment of Onychomycosis. As per IMS 2001 the product had US brand sales of approximately $460 million (tablets only).

Bombay Dyeing Q1 results on July 31, 2002

A meeting of the Board of Directors of Bombay Dyeing & Manufacturing Company Ltd is scheduled to be held on July 31, 2002 to consider and take on record the unaudited financial results for the quarter ended June 30, 2002.

BSE imposes Special Margin on 2 scrips

BSE has informed the members of the exchange that Special Margin in the under mentioned scrip has been imposed as mentioned alongside with effect from today (July 19, 2002). Special margin will be imposed on the basis of memberwise gross outstanding purchase or sale position (Clientwise net) as indicated below: Code Name Group Sp. Mrg.Per Share (%)(Purchases) Sp.Mrg.Per Share (%)(Sales) 531554 TOP TELEMEDIA LTD B2 0 50 532156 VAIBHAV GEMS LTD B1 25 0

Geodesic Info to consider matters related to setting up of office in US

A meeting of the Board of Directors of Geodesic Information Systems Ltd is scheduled to be held on July 26, 2002 to consider the following: 1. Broad basing the Board of Company by inducting independent Director on Board 2. Matter related to setting up of office of Company in US.