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| Flex Industries to acquire 3.15 million equity shares of Flex Foods |
| Flex Industries has informed BSE that it proposes to acquire 31,50,000 equity shares of the paid up equity capital of Flex Foods at Rs 10/- per share. The acquisition is through conversion of part of the unsecured loan given by the company to Flex Foods under the Financial Restructuring Package aproved by ICICI. |
| Rane Madras board approves sale of investments to associate companies |
| The board of directors of Rane Madras at its meeting held today (December 4, 2000) has approved sale of investments in joint venture companies to associate companies/financial institutions for an aggregate value of around Rs 160/- million. |
| Sandvik Asia board approves ESPS |
| The Board of Sandvik Asia Ltd at its Board Meeting held today (December 4, 2000) approved an Employee Stock Purchase Scheme (ESPS). The shares will be issued at par. The number of shares to be issued to the emlpoyees/directors will be approximately 8000 with a lock-in-period of one year. |
| S K Mukerji retires from SBI |
| State Bank of India has informed BSE that Shri S K Mukerji, Managing Director & Group Executive (Corporate Banking) retired from the Bank's service on November 30, 2000 on his attaining superannuation and therefore ceased to be a Director on the Bank's Central Board w.e.f December 01, 2000. |
| CNBC India increases India-centric programming |
CNBC India, the country's leading business channel, has increased its India-related content to more than 10 hours of daily programming with a line-up of 10 new shows and special segments. In response to the resounding success of its existing Indian programmes CNBC India has introduced four more shows and two special segments that focus on the core issues of Indian business: Cutting Edge,a daily analysis of current business stories, Mutual Fund Investor a personal mutual funds guide, My Money on personal finance, Taking Stock which is a weekend round-up of the week's markets, Stocks @Works special segment on 'dark horse" stocks and Global Indian a special NRI segment
To complement its line-up of business news programmes, CNBC India has also introduced two new lifestyle segments relevant to the upwardly mobile Indian executive - Reel Money and Trend Mill, which focus on Indian entertainment, style and fashion. This is expected to add a fresh new dimension to the channels highly regarded business programming. And while Hindi is already making its presence felt on the channel, CNBCI is also exploring the market potential for shows in regional languages like Gujarati.
Also, to be launched in mid-December are the twin nightly diamonds of this new crowning glory of Indian business programming - Markets Today, a crisp 'after trading hours' panorama of the Indian markets, and Business at 10, a news programme that can best be described as the mother of all business bulletins.
Since it launches in December 1999, CNBC's India-related content has increased five-fold from two hours to ten hours of daily programming during weekdays. The latest introduction of new shows forms the second phase of the 'Indianisation' of the channel. This phase was initially planned for early 2001. However, the growing popularity of the channel's Indian programming, driven by renewed interest in the Indian economy and the fast growth in the number of active retail investors, has led to the channel advancing its growth plans.
CNBC India is a joint venture between TV 18, one of India's leading producers of quality television programmes and CNBC Asia, the internationally acclaimed service of NBC and Dow Jones |
| Cinevista launches KnockOut - a unique game show |
Plans were unveiled today (December 4, 2000) by Cinevista Communications Ltd for the launch of India's most exciting game show, KnockOut.which promises to be the television event of 200l. KnockOut goes on the air at 9 p.m, on Sunday, 28th January 2001 on Doordarshan's National Network, and for one hour every Sunday, promises to keep the nation on edge.
KnockOut is a unique game show, with a never before format. And a very, very special promise - out here, everyone wins! Every participant, every time, why even every member of the audience. While the highest amount that can be won every week is over Rs. 100 lakhs, the format produces more winners at the end of each episode than any other show. So be it winnings, information, knowledge of entertainment, KnockOut is set to provide this to tens of millions of viewers across the length and breadth of the country-
KnockOut will be hosted by India's best-known international actor, Kabir Bedi, the star of numerous stage plays, TV serials, and films, both in India and abroad. Kabir has also played a major role in James Bond film, Octopussy. Says Sunil Mehta, Managing Director of Cinevista, the producers of the show, "Kabir is very handsome, has a great personality, an endearing smile, a great voice, maturity and intellect, and was the natural choice to host KnockOut. We are delighted that he believes in the show and will be associated with it for three years on an exclusive basis ".
Kabir Bedi is very exicted about KnockOut 'I started on the small screen with hosting a show over Delhi Doordarshan -while in college. Three decades later, this is a homecoming for me in more ways than one." He adds "Sunil Mehta and the entire Cinevista team are great professionals, and this show will be a surefire winner. I am thrilled to he a part of television history in the making."
An impressive array of talents has been lined up for the show, from set design, lighting director, cinematography, sound, scripting and music, to a seamless system to handle viewer and participant response, which is expected to run into crores. A multi-media promotion campaign, including television, print, radio, outdoor and the internet will be launched soon, inviting people to participate as well as to view the programme.
Enterprise Nexus is the advertising agency handling the entire exercise.
Cinevista Communications is a television content house which is one of the oldest (18 years) and the biggest (currently over 20 shows across broadcasters worldwide), and is known for the quality and hence popularity of its programming, from "Kathasagar-" to"Noorjahan" and "Jai Mata Ki". KnockOut will be the latest, and perhaps most glittering Jewel in Cinevista's crown,
Cinevista has also succeeded in institutionalising the creative and production process within the company. Its creative talent is broadbased arid sees continuous enhancement. This has enabled Cinevista make diverse programmes covering virtually every genre of television entertainment. The company has over 25 new pilots under production for new programmes, spanning various genres such as mythologies is, historicals, classics, action series, love stories, tele films, crime dramas, comedies, 5 day sitcoms, ghost stories, a series on army life, children's formats, detective series and emotionally family based dramas. In the last three months 4 new programmes have gone on air viz. Zindagi Milke Bitayenge, Mamala Gadbad Hai and Kal Aaj Kal Aur Kal, on Channel-9's band on DD-Metro and Kati Patang Hai Life Yaaron on the National Network of Doordarshan. Apart from this a number of other programmes are at various stages of negotiation with various satellite channels-
To further strengthen its base m the Indian entertainment industry, Cinevista has recently set up a subsidiary Cinevista Eagle Plus Media Pvt. Ltd- (CEPPL) with Mr. Umesh Mehra of Eagle Films. The object of this subsidiary is to produce Hindi feature films. CEPPL plans to produce 9 Hindi feature films in the next 3 years. The first film, Yeh Mohabbat Hai has already commenced production. Negotiations are on with other renowned directors to design mega projects for CEPPL. Plans for the same will be announced shortly. |
| Infosys allots equity shares under stock option plan |
The Board of Directors of Infosys Technologies Ltd on December 4, 2000 transacted the following item of business:
Allotted 140(One Hundred and Forty Only) equity shares of par value of Rs 5 per share to the Bankers Trust Company, New York,the Depository to the company's ADS issue as underlying shares in the respect of 280 (Two hundred and eighty only) ADRs to be issued and allocated to the purchasers, pursuant to the exercise of the 280 options granted to the emlpoyees under the 1998 option plan on receipt of payment of the subscription monies in respect of the said shares aggregating $ 25,060. |
| Ranbaxy receives FDA approvals for 4 ANDA's Representing 9 Formulations in the US |
Ranbaxy Pharmaceuticals Inc., a wholly owned subsidiary of Ranbaxy Laboratories Limited, was awarded approval for 4 key anti-infective products in November making significant additions to a product portfolio that continues to expand in this therapeutic class. These approvals bring the total to eight ANDA's that have been awarded by the FDA to Ranbaxy in the year 2000, so far.
Doxycline Monohydrate was granted approvals for its 50mg and 100mg capsules,
It has proven bioequivalence to the Oclassen Pharmaceuticals' brand Monodox®, the original innovator, a wholly owned subsidiary of Watson Pharmaceuticals. The brand generated sales of $38 Mill as per IMS December 1999 MAT. Prescriptions rose by 27% during the past year for this widely prescribed antibiotic, which has established a solid position in dermatology, A broad spectrum tetracycline antibiotic, Doxycycline Monohydrate has an AB rating and is indicated for a wide range of bacterial infections. The final dosage form will be manufactured at Ohm Laboratories, a wholly owned subsidiary of Ranbaxy Pharmaceutical s Inc.
The approvals granted for Amoxicillin 500mg and 875mg tablets, that are intended for use in a twice-daily dosage regimen, are AB rated generic versions of SmithKline Beecham's Amoxil. Approvals has also been granted for twice daily Amoxicillin chewable tablets, 200mg and 400mg strengths, making Ranbaxy the first generic manufacturer to be granted approval for this dosage form. The brand Amoxil, has a combined sales of $45 mill, for these four strengths, growing at a rate of 30% on an annualised basis. This new dosage regimen will support ease of administration, and thus enhance patient compliance, The dosage forms will be manufactured and packaged at Ranbaxy's dedicated penicillin facility at Dewas, India.
Ranbaxy also has got approvals for Minocycline capsules for its 50mg, 75mg and l00mg strengths. Minocycline Hydrochloride, a twice a day broad-spectrum bacteriostatic anti-infective agent, is indicated for the treatment of multiple strains for bacterial infections and achieved sales of $136 mill. in 1999. This approval granted to Ranbaxy represents the first generic manufacturer to offer all three of these strengths, which are bio-equivalent and are AB rated to the Lederle brand, Minocin. Ohm Laboratories will manufacture this product.
All these products will be offered in a wide range of packaging sizes to accommodate the dispensing needs of pharmacies in the US healthcare system. These three key products further expand Ranbaxy Pharmaceuticals Inc. line of anti-infectives, which todate have included: Amoxicillin 250 and 500mg capsules and 125mg and 250mg chewable tablets, Cefaclor capsules and suspensions, Cephalexin capsules and suspensions, and Cefadroxil Hemihydrate capsules and tablets. All these products are highly prescribed and play a key role in patient care in the US healthcare system. These products are expected to be launched by end of December 2000 and the Company expects to effectively penetrate the market during the first year. |
| Niku opens Indian Engineering Group with Silverline as Software Engineer Partner |
Niku Corporation a leading provider of Services Relationship Management (SRM) solutions, is pleased to announce that it has entered into a relationship with Silverline Technologies Ltd, a global software solutions provider to expand its product development and enhancement efforts in India.
Silverline will inaugurate a dedicated "Silverline/Niku Engineering Group" at Silverline's Global Development Center in Thane, India. This group, established today, will be operational by first quarter of 2001 and will be established for an initial 24 month period with a possible extension.
Niku is a provider of innovative,Internet-based, Services Relationship Management (SRM) products, with which organizations, businesses and individuals can significantly lower their cost of doing business in the information economy. Silverline is a world class ISO 9001 and SEI CMM Level 4 professional services organization with an onsite/offsite delivery model.
Shankar Iyer President/CEO of Silverline said, " We are excited to be part of Niku's unique approach to software development and their recognition of the value India-based offshore development brings. We intend to be proactive in helping them with their product development. |
| Hagglunds Dension fixes record date for rights issue |
| Hagglunds Dension Ltd has fixed the Record Date as January 03, 2001 for the issue of equity shares on rights basis in the ratio of one equity share of Rs 10/- each at par for every three existing equity shares held. The transactions in the equity shares of the company will be done on a cum rights basis upto December 08, 2000 and an ex-right basis from December 11, 2000. |
| SSI Technologies signs up Just Commodity to launch a B2B solution for commodities |
SSI Technologies, the software development and consulting division of SSI Ltd has announced the launch of NetCommex - a complete product suite for online commodities trading in the spot market. NetCommex offers an end-to-end solution for neutral market makers and large commodity trading houses that wish to leverage the Net for trading in the spot commodities markets. NetCommex comprises modules in content management, transaction platform, and multiple trading engines, and interfaces with fulfillment services like banking, trade finance, surveying, logistics, insurance etc.
The first major customer for NetCommex is Just Commodity, a B2B commodities exchange promoted by Refco, one of the world's largest non-banking commodities broking houses. SSI Technologies will provide the design and development services for Just Commodity and power it with NetCommex. Just Commmodity will initially offer trading platforms in coffee, rubber, sugar, edible oils and cotton along with several value added services like trade finance, insurance etc.
"The signing up of this agreement marks our entry into the area of B2B exchanges," said K.Shriniwas, CEO, SSI Technologies. "Our known strengths in the exchange-related fields will certainly be a big advantage in this foray. SSI Technologies is now focusing on e-business as one of its key verticals,"
"It may have taken more time than I would have liked to select our technology partner but I believe I have made the right choice by teaming up with SSI Technologies" said Colin Simpson, CEO, Just Commodity. "SSI Technologies brings a strong management team from both the business and technology sector, along with a proven track record in this space." |
| Andhra Paper Mills fixes record date for stock split |
| Andhra Pradesh Mills Ltd has fixed the Record Date as January 16, 2001 for the purpose of reducing the face value from Rs 100 to Rs 10/- per share. |
| SKF Bearings to cut production, introduce VRS |
SKF Bearings (India) Ltd. has informed BSE that, due to the general downturn in automotive related segments and the significant downturn in demand of certain segments for the company's products the company is holding high inventory levels.
In order to adjust to a lower level of demand in these segments, and to reduce the level of Finished Goods Inventory, the company has now initiated in agreement with its in-house Union a significant reduction of production levels in the Pune Plant. This will adversely affect the results of the current quarter.
The company is at the same time in the process of initiating further restructuring activities in order to reduce its overall cost and assets base. As part of this restructuring, the company is now taking steps towards introducing a new Voluntary Retirement Scheme (VRS) which will affect approx. 300 people in the Pune Plant. This will further reduce its employee strength and costs. |
| Dabur India to consider issue of Stock Options |
| Dabur India Ltd. has informed BSE that the next meeting of the Compensation Committee of the company will be held on December 08, 2000 to consider issuance of Stock Options to the employees under Employees Stock Option Scheme (ESOS) of the company. |
| Nuchem to offer equity shares to promoters |
The Board of Directors of Nuchem Ltd has decided as under, subject to necessary approvals:
1. Issue upto 0.6 million 10% Cum. Preference shares of Rs.100/- each convertible into equity shares at par on such premium as the Board may decided after 3 years but not later than 5 years from the date of allotment to the FIs, Banks and MFs and such other persons.
2. To offer to the present promoters, 2.50 million equity shares of Rs.10/- each at par. |
| Orissa Industries unit affected by cyclone |
| Orissa Industries Ltd. has informed BSE that its unit at Barang, Cuttack and another unit at Lathikata near Rourkela, situated in the state of Orissa has been badly affected due to cyclone. |
| J B Chemicals formulation plant receives approval from Drug Authorities of South Africa |
J B Chemicals & Pharmaceuticals Ltd the flagship of Unique group of companies and a well established pharmaceutical company of high repute's State of-the-Art facility at Panoli has been granted approval for good manufacturing practices by Medicines Control Council of Republic of South Africa.
The company is now in the process of having this State-of-the-Art facility approved by MCA UK and later by US FDA. It has been a passion with JBCPL ro mamtam the highest standards of quality for manufacturing bulk drugs and formulations. The approval of the aforesaid plant at Panoli is the testimony to the belief in observing the best manufacturing practices. This approval obviously opens new avenues of export for its well known brands to South Africa, in addition to the other overseas markets.
The State of-the-Art facility was put up in the year 1998 at Panoli with an investment of Rs. 160 million. |
| With reference to news item "Mukand promoters to reduce stake to 37.9%" Mukand Ltd has informed BSE that it has not issued any letter regarding reduction of stake by promoters to 37.9%. It further states that Mukand Engineers has allotted 598,500 shares to the company. Hence there is no case of any reduction of stake by Mukand's promoters namely Shah and Bajaj families. The company has further informed that the figures of total debt burden and interest outgo mentioned in the financial daily are also reported incorrectly. |
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