Scintilla Software Tech announces change in management structure

Scintilla Software Technology Ltd has informed BSE that due to preoccupation Mr M H Sane, Whole Time Director has been submitted his resignation from the Board. Mr Sham Mishra has been appointed as Additional Director by the Board.

BHEL clarifies on news item

With reference to a news item appearing in a leading financial daily titled 'Bhel bags LoI for Rs 14250 million UPSEB Power Project' Bharat Heavy Electricals Ltd has informed BSE the following: BHEL has received a Letter of Intent (LoI) from UP Rajya Vidyut Utpadan Nigam Ltd for 2*210 MW Parichha Extension thermal Power Project in Distt Jhansi. The total value of the order is Rs 14250 million The scope of work involves engineering, supply, erection, testing, commissioning and performance testing of the above two units. The two units are due for commissioning in 30 and 36 months respectively This is the first major order in the power sector for BHEL in 2002-03.

Vikrant Tyres Board approves merger with JKI

Vikrant Tyres Ltd has informed BSE that the Board had been advised that JK Industries Ltd (JKI) were demerging their sugar business, agri genetics business and some of their investments into two separate Companies. The Board discussed and agreed upon the proposal to merge Vikrant Tyres Ltd with the residual JKI after their demergers. The exchange ratios as proposed by Deloitte Haskins and sells were considered and approved by the Board of Directors, for every 5 equity shares held on Vikrant Tyres Ltd, two equity shares of Rs 10/- each will be issued in the JKI residual to shareholders of Vikrant Tyres Ltd upon the amalgamation becoming effective in accordance with the scheme of arrangement, as would be approved. The Board of Directors empowered its committee to proceed with the preparation of the scheme of arrangement and for filing the same in the Hon'ble High Court of Karnataka.

J K Ind Board approves demerger of Sugar /agri-genetics business

J K Industries Ltd has informed BSE that the Board of Directors at its meeting held on October 07, 2002 to consider options of restructuring has approved the following: The Board of Directors has decided that J K Industries Ltd should demerge their sugar business and their agri-genetics business and part of their investments in separate Companies pursuant to the advice received and valuations carried out by Clark Gardner Wolf & Co and Lodha Capital Markets Ltd. It was decided that pursuant to the proposal for demerger 15 equity shares of Rs 10/- each would be issued in the Sugar Company to every member of JKI holding 100 equity shares of Rs 10/- each in relation to the demerger of the sugar business. It was decided to issue one equity share of Rs 10/- each in Agri-genetics Company to every member of JKI holding 10 equity shares of Rs 10/- each to JKI in relation to the demerger of the Agri-genetics business and part of the investments. As a consequence of demergers, JKI equity share capital would stand revised from Rs 345.60 million to Rs 259.20 million The Board of Directors also resolved to amalgamate its subsidiary Vikrant Tyres Ltd into the residual undertaking of JKI. The valuation report of Lodha Capital Markets Ltd for the purposes of such amalgamation was also accepted by the Board of Directors and for every five equity shares of Rs 10/- each of Vikrant Tyres Ltd, two equity shares of Rs 10/- each would be issued in JKI (residual). The Board of Directors empowered their committee to proceed with the preparation of the scheme of arrangement and the petitions for filing.

Infotech to create Data Centre of Excellence for Sitescope

Following the successful completion of one of the largest map and data capture exercises ever undertaken in the area of property and risk information for the UK market, Sitescope Ltd and InfoTech Enterprises have announced that they are to strengthen their strategic relationship through the creation of a Data Center of Excellence at Infotech's facilities in India. The center is being set up in partnership with Infotech specifically to enable the continuous improvement in the quality of the data and IP assets used by Sitescope in its range of property and environment risk services. Particular emphasis will be made, wherever possible, to maintaining address and geographical data to recognized BSI and ISO standards, and the creation of Intellectual property in new property and environmental data.

Dr Reddy's Lab Q2 results on October 24, 2002

Dr Reddy's Laboratories Ltd has informed BSE that the Board of Directors of the Company is scheduled to meet on October 24, 2002 to inter alia discuss and take on record the unaudited financial results of the Company for the quarter and half year ended September 30, 2002.

Ananta Chandra Kalita appointed as Director on the Central Board of SBI

State Bank of India has informed BSE that it has appointed Mr Ananta Chandra Kalita, Head Assistant, State Bank of India as a Director on the Central Board of the Bank from amongst the employees of the Bank, who are workmen, for a period not exceeding six months commencing from October 03, 2002 or until his successor is appointed or till he ceases to be workmen employee of State Bank of India, or until further orders, whichever event occurs earlier.

Adf Foods Board approves setting up wholly owned subsidiary in UK

Adf foods Ltd has informed BSE that the Board of Directors have today (October 7, 2002) resolved to set up a wholly owned subsidiary Company in the United Kingdom and to thereby subscribe to its Memorandum and Articles of Association.

Wartsila India Q3 results on October 17, 2002

Wartsila India Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on October 17, 2002 to consider inter alia the unaudited financial results for the third quarter ended September 30, 2002.

TajGvk Hotels Q2 net up by 31.87%

TajGvk Hotels & Resorts Ltd has posted a net profit of Rs 16.59 million for the quarter ended September 30, 2002 as compared to Rs 12.58 million for the quarter ended September 30, 2001. The total income has increased from Rs 152.45 million in quarter ended September 30, 2001 to Rs 154.29 million in quarter ended September 30, 2002.

GNFC Q2 results on October 25, 2002

The Board of Directors of Gujarat Narmada Valley Fertilizers Company Ltd will meet on October 25, 2002 to take on record the Unaudited Financial Results for the Second Quarter ended September 30, 2002 in respect of the Financial Year 2002-2003.

Tata Power Q2 results on October 22, 2002

Tata Power Company Ltd has informed BSE that the Board of Directors of the Company will meet on October 22, 2002 to consider and take on record the unaudited results (Provisional) for the quarter ended September 30, 2002.

Vysya Bank announces change in management structure

Vysya Bank Ltd has informed BSE that RBI has sanctioned the appointment of Mr Bart Hellemans as Managing Director & Chief Executive Officer and Mr G Mallikarjuna Rao as part time Chairman of the Bank. In terms of approval of RBI Mr Bart Hellemans has taken over the charge from Mr K Balasubramanian as Managing Director & CEO on this day the October 07, 2002. Mr K Balasubramanian the outgoing Managing Director will continue as non-executive Director of the Bank.

UTI Bank Q2 results on October 24, 2002

UTI Bank Ltd has informed BSE that a meeting of the Board of Directors of the Bank is scheduled to be held on October 24, 2002 to consider and take on record the unaudited half yearly/quarterly financial results of the Bank for the half year/Quarter ended September 30, 2002.

L&T to construct longest cross-national Belt Conveyor

Larsen & Toubro Ltd (L &T) has signed a contract valued at US $ 23 million, with Lafarge Surma Cement (LSC) Ltd, Bangladesh for construction of a 17 km long cross national belt conveyor. It will convey limestone and shale from the mines in the hilly terrain of Shella Bazar, Meghalaya (India) to the marshy plains of Chhatak, Bangladesh, where Lafarge is putting up a cement plant. This is the longest belt conveyor to be constructed in India and is to be executed in 24 months by ECC, the Construction Division of L&T. Mr K G Hariharan, Executive Vice President (Indl. & Elec. Projects & Utilities), L&T -ECC, signed the contract on behalf of L&T on September 25, 2002. The scope of the turnkey project undertaken in association with AUMUND of France includes design, engineering, supply, construction, erection, testing and commissioning of the conveying system. The conveyor will follow the ground contour along its entire route and will have horizontal as well as vertical curves. Two self propelled vehicles for maintenance will move over the conveyor gallery. This will be closed to avoid outside disturbances. Location of the construction site near Cheerapunji, which has the world's highest rainfall, will be yet another challenge to project execution.

BSE revises Special Margin on 57 scrips

BSE has informed the members of the exchange that the following scrips will attract Special Margins as indicated hereunder with effect from today (October 7, 2002). 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)(%) 532311---------- Amex Information---------- B2---------- 25 531823---------- Arvind Remedy---------- B1---------- 25 532161---------- Baffin Engineer---------- B2---------- 25 532113---------- Brijlaxmi Le---------- B2---------- 25 506390---------- Colour Chem---------- B1---------- 25 531460---------- Continental Con---------- B2------------------------------ 25 508814---------- Cosmo Films---------- B2 ---------- 25 532099---------- Database Fin---------- B2---------- 25 532365---------- Dynacon System----------B2------------------------------25 509028----------E Serve In---------- B1---------- 25 505200---------- Eicher Motor---------- B1---------- 25 500128---------- Electrosteel Ca---------- B1---------- 25 506156---------- Etc Networks---------- B2---------- 25 511744---------- Fcgl Industries---------- B2------------------------------ 25 532326---------- Fortune Info---------- B2---------- 25 531399---------- G G Automative---------- B2---------- 50 500655---------- Garware Poly---------- B2---------- 25 506109---------- Genesys Inter---------- B1---------- 25 503699---------- Geodesic Inf ---------- B2---------- 25 507732---------- Godavari Fert---------- B2---------- 25 532439---------- Goldstone Tele---------- B2---------- 25 530663---------- Goyal Associate---------- B2---------- 25 532129---------- Hexaware---------- B1---------- 25 524652---------- Ind Swift---------- B1---------- 25 500207---------- Indo Rama Syn---------- B1---------- 25 532010---------- Indotech Capita---------- B2---------- 25 524494---------- Ipca Laborator---------- B1---------- 25 531816---------- It Microsystem---------- B2---------- 25 500107---------- Jindal Iron---------- B1---------- 25 532256---------- Jindal Strips---------- B1---------- 25 532283---------- Kaashyap Radian---------- B2------------------------------ 50 517471---------- Ktl Infosys---------- B2---------- 25 532275---------- Landmarc Leisur---------- B1---------- 25 500266---------- Mah Scooter---------- B1------------------------------ 25 500265---------- Maharashta Seam---------- B1---------- 50 502157---------- Mangalam Cement---------- B2---------- 25 524794---------- Matrix Labs---------- B2---------- 25 512267---------- Media Matrix---------- B2---------- 25 531417---------- Mega Corporatio---------- B2------------------------------ 25 524101---------- Nalco Chemical---------- B1---------- 25 504112---------- Nelco---------- B1---------- 25 532091---------- Orbit Multi---------- B2---------- 25 ------------------------------ 25 531512---------- Orient Tradelin---------- B2---------- 25 532114---------- Pan Packaging---------- B2---------- 25 531492---------- Penta Commun---------- B1------------------------------ 25 522205---------- Praj Industries---------- B2---------- 25 531611---------- Prraneta Inds---------- B2---------- 50 513583---------- S B & T---------- B1---------- 25 531488---------- Sanyo Impex---------- B2------------------------------ 25 523083---------- Somplet---------- B2---------- 25 512531---------- State Trading---------- B1---------- 25 500463---------- Tata Telecom---------- B1---------- 25 531554---------- Top Telemedia---------- B2------------------------------ 25 531659---------- Transnat Sec---------- B2---------- 25 531790---------- Universal Media---------- B2------------------------------ 25 524802---------- Veronica Labs---------- B2---------- 25 511246---------- White Lion Asia---------- B2---------- 25------------------------------ 25

Cummins Diesel Sales & Service - subsidiary of Cummins India to participate in share buyback offer of Newage Electrical

Cummins India Ltd (CIL) has informed BSE that Cummins Diesel Sales & Service (India) Ltd, (CDSS) a subsidiary of the Company has decided to participate in the share buy back offer of Newage Electrical India Ltd and offer 2,40,000 equity shares of Rs 10/- each fully paid constituting 12% of the present paid up share capital of Newage. Upon buy back of these shares by Newage, Newage will cease to be subsidiary of CIL. The Company has further informed that CIL, along with its subsidiary CDSS is currently holding approx 54% of the share capital of Newage Electrical India Ltd, (Newage) an Ahemdnagar (Maharashtra) based Company engaged in the manufacture and sale of alternators having paid up share capital of Rs 2,00,00,000 (Rs 20 million) divided into 20,00,000 equity shares of Rs 10/- each fully paid up. Newage is an unlisted public limited Company. Newage has made an offer for buy back of its shares. CIL will not participate in the buy back offer and will be holding approx. 42% of the paid up Equity share Capital of Newage, acquired by CIL in July, 2002.

Indian Rayon & Inds H1 results on October 24, 2002

A meeting of the Board of Directors of Indian Rayon & Industries Ltd is scheduled to be held on October 24, 2002 to interalia, take on record the unaudited financial results for the half-year ended September 30, 2002.