India Cements Capital & Finance offers Equity Shares on preferential basis

India Cements Capital & Finance Ltd has informed BSE that at the meeting of the Board of Directors held on March 25, 2002, it has decided to offer 8535000 Equity Shares on preferential basis at Rs 12 per share (Rs 10 face value with Rs 2 premium) to the promoters group Companies. The Extra Ordinary General Meeting of the Company for this purpose has been convened on April 24, 2002.

GAIL's Agartala city gas feeder pipeline inaugurated

Gas Authority of India Ltd has informed BSE that a much larger number of households in Agartala can soon look forward to the availability of Natural Gas through pipelines for use as domestic fuel. Shri Santosh Gangwar, Minister of State for Petroleum & Natural Gas and Parliamentary Affairs inaugurated GAIL's Agartala City Gas Feeder Pipeline here on March 25, 2002. The function was presided over by Shri Manik Sarkar, Chief Minister of Tripura. The City Gas Feeder Pipeline runs between Agartala Dome gas field to Dukli and from there to the GAIL Terminal at Maharajganj. From this terminal, GAIL will supply 65000 Standard Cubic Meters of gas per day to the Tripura Natural Gas Company Ltd (TNGCL) for distribution to domestic, commercial & small-scale industrial consumers in Agartala City and nearby areas. MECON Ltd has rendered the engineering consultancy services for the project. GAIL will supply the gas to TNGCL, which will develop the required pipeline network distribution to various consumers. The current level of quantity of gas allocated for this is sufficient to meet the demand of about one lakh households. GAIL on Tuesday has a total pipeline network of around 60 KM in the State. The main customers of GAIL are the Power Plants and gas is supplied from Rokhia & Baramura filed to Rokhia and Baramura Power Plants of Dept. Of Power, Govt. of Tripura and NEEPCO. GAIL has invested over Rs 430 million on creating the necessary transmission infrastructure and about 170 MW of Power is generated by the gas supplied to the Power Plants in Tripura.

Kodak FY-2001 net profit down by 38.47%

Kodak India Ltd has informed BSE that it has posted a net profit of Rs 209.8 million for the financial year ended December 31, 2001 as compared to a net profit of Rs 341 million for the financial year December 31, 2000. The net sales has increased from Rs 6674.4 million for the financial year ended December 31, 2000 to Rs 7335 million for the financial year ended December 31, 2001. The total income for the year ended December 31, 2001 is Rs 7355.7 million as compared to total income of Rs 6720 million for the corresponding last fiscal. The Directors have recommended a Dividend of Rs 6.00 per share (including Rs 1.50 per share as a Special Dividend) for the year ended December 31, 2001 as compared to Rs 10 per share (including Rs 5.50 per share as Special Dividend) for the preceding year ended December 31, 2000.

Britannia enters into a JV with Fonterra

Britannia Industries Ltd announced on Tuesday that it has entered into a joint venture with the Fonterra Cooperative Group, New Zealand's biggest company and one of the leading diary co-operative groups in the world. With revenues of US$3.50 billion in 2000, the Fonterra Group is among the ten biggest dairy companies in the world. It is a fully integrated dairy company, which is present in practically every part of the chain- from procurement of milk to the manufacture and distribution of a whole range of dairy products. It currently operates in over 120 countries around the world. Britannia will be transferring its existing diary business to the new JV. The joint venture will be effective from March 27, 2002 and will be engaged in areas relating to sourcing/manufacturing and distribution of milk and milk products in India. The new Joint Venture is to be known as Britannia New Zealand Foods Private Ltd. Britannia and Fonterra will each hold 49% stake in the joint venture while a strategic business partner will hold the remaining 2%. This joint venture will be uniquely positioned to become one of India's leading player in the dairy segment. Whereas Britannia offers a robust base in the form of its existing dairy business, the Fonterra Group will provide its advanced technical know-how and learning's from International markets

Hindustan Lever clarifies on news item

Hindustan Lever Ltd has informed BSE that it has come across reports in a section of the Press, ascribing a statement to the HLL Chairman that the Company is open to a buyback of shares, though not in the immediate future. The Company has informed that there has been a communication gap, as the Chairman has been quoted out of context. The Company had indeed amended its Article of Association, at its Annual General Meeting held on June 22, 2001, to provide for buyback of shares in conformity with Section 77A of the Companies Act. However, this is only an enabling amendment to the Articles of Association with no intention whatsoever on the part of the company to engage in a buyback of shares in the near future. The Company has further added that should the Company at a future date, consider a buyback of its shares, bearing in mind the cash position of the Company, the market price of its shares and other alternative investment opportunities available at that point of time, Company would appropriately notify the Stock Exchanges in compliance with the Listing Agreement before seeking the approval of the Board/shareholders on such a proposal. As of now, the company wishes to reiterate that there are no plans for any buyback of shares in the foreseeable future.

UTI Bank to consider allotment of Non-Convertible Redeemable Debentures

A meeting of the Board of Directors of UTI Bank Ltd is scheduled to be held on March 27, 2002 for allotment of Unsecured Non-Convertible Redeemable Debentures aggregating to Rs 350 million (including green shoe option of Rs 200 million) as the Bank's Tier-11 capital is proposed to be considered by the Board.

ICI India transfers pharmaceuticals business to Nicholas Piramal

ICI India Ltd has informed BSE that pursuant to the shareholders approval through postal ballot announced on March 19, 2002 the pharmaceuticals business of the company is being transferred to Nicolas Piramal India Ltd w e f the close of the third shift of March 26, 2002.

Unisys Software Board allots equity shares on preferential basis

Unisys Softwares & Holding Industries Ltd has informed BSE that the Board of Directors of the Company in their meeting held on March 26, 2002 has approved the allotment of 1,00,00,000 Equity Shares of Rs 10 each for cash at par.

Kesoram Commercial Paper assigned "Ind D-1+" rating by Fitch

Kesoram Industries Ltd has informed BSE that the Company has been assigned "Ind D-1+" rating for the Commercial Paper of Rs 400 million by Fitch Ratings India Pvt Ltd The company has requested ICRA Ltd to withdraw the rating granted by them

Century Textiles Bagasse Plant commences production

Century Textiles and Industries Ltd has informed BSE that Inlet Steam pipeline of 21 M W Turbine has been repaired and Bagasse Paper Plant production has been started w e f March 22, 2002 Earlier the company had informed about the bursting of Inlet steam pipeline of 21 M W Turbine of its Pulp & Paper Plant on February 17, 2002 resulting into non-operation of the Turbine.

ETC members approve issue of shares on preferential basis to Zee Tele

The members of ETC Networks Ltd at the Extra Ordinary General Meeting of the company held on Tuesday have passed resolution to issue upto 22,20,812 equity shares of Rs 10 each at a premium of Rs 21.52 per share aggregating to Rs 6,99,99,994 in one or more tranches on preferential allotment basis to Zee Telefilms Ltd in accordance with SEBI guidelines.

M&M announces VRS for its workmen in farm equipment sector

As a part of company's efforts to make the Organisation lean, efficient and streamline operations to improve cost structure to remain competitive, Mahindra & Mahindra Ltd has decided to announce a Voluntary Retirement Scheme for its workmen in Farm Equipment Sector both in Kandivali and Nagpur. The scheme has been designed to achieve the overall reduction in the existing strength of the workmen. The scheme will be applicable to all workmen and monthly rated staff of the company's establishment at: Farm Equipment Sector at Kandivali Farm Equipment Sector at Nagpur The scheme shall not apply to those who have availed in the past, the benefit of any other Voluntary Retirement Scheme. The scheme will be open till March 31, 2002. The scheme shall be applicable to all those who have completed 40 years of age or put in minimum 10 years of service.

Arvind Mills extends time for payment of allotment money

Arvind Mills has informed BSE that in view of the disturbed conditions prevailing in the state of Gujarat, requests have been received by the Company for extension of the date of payment of Allotment Money. Accordingly, the last date fixed for payment of Allotment Money has been extended up to May 31, 2002. Earlier the last date for payment of Allotment Money was March 30, 2002

Wockhardt completes restructuring of its Joint Venture with Rhein Biotech

Indian Pharmaceuticals major Wockhardt Ltd and Rhein Biotech, GmbH have restructured their Indian production joint venture Wockhardt Rhein Biopharm. In this restructuring Wockhardt Ltd acquired 100% ownership of the joint venture. In the new situation, Wockhardt Ltd has a co-exclusive license on Rhein Biotech's Hansenula polymorpha technology for the production of Hepatitis-B vaccine in India. Rhein Biotech will continue to receive royalties on sales of Wockhardt's Hepatitis-B vaccine and future insulin sales and has the freedom to operate in the field of combined vaccines in India

Agro Tech announces change in management structure

Agro Tech Foods Ltd has informed BSE that at the Board Meeting of the Company held on March 25, 2002 1. Thomas Manuel and Hamish McBain have resigned from the Board of Directors of the Company from the close of business hours of March 25, 2002. Their Alternate Directors Ajay Bahl and Raman Sharma have vacated office w e f the close of business hours of March 25, 2002. 2. In the casual vacancy caused by resignation of Thomas Manuel and Hamish McBain the Board has appointed Howard G Buffett and Lt Gen D B Singh as Directors of the Company.

Dhampur Sugar Mills allots ten million equity shares on preferential basis

Dhampur Sugar Mills Ltd has informed BSE that the Board of Directors at its meeting held on March 25, 2002 have allotted ten million equity shares on a preferential basis to Body Corporate / Individuals / NRI / OCB in terms of approval of the shareholder obtained in the Extra Ordinary General Meeting of the Company held on December 27, 2001

India Polyfibres plant commences production after shutdown

India Polyfibres Ltd has informed BSE that the plant has started production after a shutdown of one month. The company had earlier informed that its plant will be shut down for one month from February 21, 2002 for maintenance along with expansion of production capacity. The production capacity of Black Dope Dyed Black Polyester Staple Fibre is being increased from 53.5 MT per day to 76 MT per day. The production capacity of Semi Dull Polyester Staple Fibre is being increased from 64 MT per day to 84 MT per day

Precision Wires to explore possibility of making investment in Sri Lanka

Precision Wires India Ltd has informed BSE that the Company is exploring the possibility of making investment in Sri Lanka in the field of its main activity viz. Manufacture of enameled copper winding wires.

India Cements Capital & Finance offers Equity shares on preferential basis

India Cements Capital & Finance Ltd has informed BSE that at the meeting of the Board of Directors held on March 25, 2002, it has decided to offer Equity Shares of Rs 8.335 million on preferential basis at Rs 12 per share (Rs 10 face value with Rs 2 premium) to the promoters group Companies. The extra ordinary general meeting of the company for this purpose has been convened on April 24, 2002.

Indian Oil Corp clarifies on news item

With reference to the news article appearing in a leading financial daily, Indian Oil Corporation Ltd has clarified the following: (a) The Corporation is currently examining the proposal of acquisition of equity in Haldia Petrochemicals, but no firmed up proposal has been arrived at as various aspects are under detailed examination currently. (b) The Company has further informed that a Committee has been constituted with representatives from both IndianOil and IBP in order to optimize the marketing activities as also improving the efficiency of operations. (c) The news item regarding merger of CPCL and BRPL with IndianOil is currently under active consideration.

BSE revises special margin on 34 scrips

BSE has informed the members of the exchange that the following scrips will attract special margins as indicated hereunder with effect from Tuesday. 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 memberwise gross purchase or sales position (clientwise net) as indicated below: CODE NAME GROUP PER SHARE (PURCHASE)(%) PER SHARE (SALE)(%) 530707 AFTEK INFOSYS B1 25 532161 BAFFIN ENGINEER B2 25 532346 BLUE STAR B1 25 517544 C MAC CENTUM B1 25 500117 DCW B2 25 509028 E SERVE IN B1 25 526881 FINANCE TECH B2 25 532326 FORTUNE INFO B2 50 532047 GALAXY APPLIANC B2 25 532312 GEOMETRIC SOFT B1 25 532439 GOLDSTONE TECH B2 25 532010 INDOTECH CAPITA B2 25 532175 INFOTECH ENTERP B1 50 511116 INVEST TRUST B1 25 531816 IT MICROSYSTEM B2 25 532283 KAASHYAP RADIA B2 25 500247 KOTAK MAHINDRA B1 25 532400 KPIT INFOSYSTEM B1 25 532337 MASCOT SYSTEM B1 25 526299 MPHASIS BFL B1 25 520021 OMAX AUTOS B1 25 531167 ORIENT INFOR B1 25 532350 PADMALAYA TELE B1 25 500327 PEACOCK INDUS B2 25 532165 RANSI SOFTWARE B2 25 511076 SAT INVESTMENT B2 50 512028 SHONKH TECHNOLO Z 25 530943 SRI ADHIKARI BR B1 25 532348 SUBEX SYSTEM B1 25 504290 TATA INFOTEC B1 25 532375 TIPS INDUSTRIES B1 25 531830 TODAY'S WRITING B2 25 500423 TVS ELECTRONICS B1 25 531404 ZICOM ELECTRONI B2 25

NRB Bearings Board approves amalgamation of NRB Torrington

NRB Bearings Ltd has informed BSE that the Board of Directors at its meeting held on March 25, 2002 have approved the Scheme of Amalgamation of NRB Torrington Ltd with NRB Bearings Ltd. effective April 1, 2001. NRB Torrington Ltd started as a joint venture on 50:50 basis between NRB Bearings Ltd and Torrington Holdings Inc, USA for the manufacture of wide inner ring bearings which are utilized in a wide variety of Industries. In March 2002 Torrington Holdings decided to exit from the joint venture and their holdings were purchased by NRB Bearings Ltd. The necessary consent from Reserve Bank of India for the transfer has been obtained. NRB Torrington is currently a 100% subsidiary of NRB Bearings Ltd. NRB will be extending its product range and moving a step forward in its mission to provide innovative bearing solutions to the Indian global markets. Both the companies are now under the same management and it is felt that the merger of both the Companies will lead to synergies of operations for mutual benefit.

Rolta to exploit the emerging opportunity of Internet Telephony Services

Rolta India Ltd has informed BSE that RoltaNet the Company's Internet Services Division continues to be Mumbai's No 1 ISP and is fully geared up to exploit the emerging opportunity of Internet Telephony Services as per the new policy. To continue the aggressive growth Rolta has established in Atlanta-USA as advanced Engineering software and eServices center. This new building will be inaugurated on April 15, 2002 is spread over 26000 sq. ft and will be the new US headquarters of Rolta International Inc. In last year Rolta has invested over US$ 6 million in its overseas subsidiaries including the formation of another subsidiary in Europe- Rolta Deutschland GMbH, Germany. The subsidiary in UAE- Rolta Middle East has been strategically moved to Dubai Internet City. These new initiatives are expected to add thrust to the Company's business opportunities in these geographies. Further Rolta is creating in Mumbai additional 250000 sq.ft of state of the art facilities for providing world-class IT solutions and services in engineering and eBusiness environments. To augment its domain expertise the company added 450 technical professionals in 2001

Rolta Q4 net profit down by 2.68%,FY-01 net profit up by 16.06%

Rolta India Ltd has posted a net profit of Rs 155.01 million for the quarter ended December 31, 2001 as compared to Rs 159.29 million in the corresponding period last fiscal. Total Income has decreased from Rs 777.14 million in DQ 2000 to Rs 736.19 million in the quarter ended December 31, 2001. The company has posted a net profit of Rs 1054.54 million for the financial year ended December 31, 2001 as compared to Rs 908.64 million in the year ended December 31, 2000. Total Income has increased from Rs 2548.71 million in FY-00 to Rs 3014.64 million in the year ended December 31, 2001.

Timex Watches Board to consider allotment of equity shares to Timex Watches BV

A meeting of the Board of Directors of Timex Watches Ltd is scheduled to be held on March 30, 2002 to consider the allotment of equity shares to Timex Watches BV, the Promoter of the Company

Voltas Board approves amalgamation of its wholly owned subsidiaries

Voltas Ltd has informed BSE that at the meeting of the Board of Directors held on March 25, 2002 the Board has approved of the proposal for amalgamation of Virat Investment Company Ltd and Voltas Systems Ltd, wholly owned subsidiaries of the Company, with the Company effective from April 01, 2002, subject to obtaining the requisite approvals including that of the Mumbai High Court. The Company has further informed that Virat is an investment company registered with Reserve Bank of India as a Non Banking Financial Company. Voltas Systems Ltd is a dormant Company with no business activity.