Modiluft to consider issue of shares on preferential basis

A meeting of the Board of Directors of Modiluft Ltd will be held on August 14, 2001 to consider inter-alia audited annual accounts for the year ended May 31, 2001 and preferential issue of shares.

HCL Tech expands Board of Directors

HCL Technologies Ltd India's leading IT services company today announced (August 6, 2001) the appointment of Mr Anupam Puri, a renowned management consultant formerly with Mckinsey & Co as a member of the Board of Directors of the company. Mr Puri brings with him 30 years of management consultancy experience with Mckinsey & Co. He has worked extensively on public policy issues with various governments, multilateral development agencies and leading companies worldwide. Welcoming Mr Anupam Puri to the Board of Directors, Mr Shiv Nadar Chairman President and CEO, HCL Technologies said, "Anupam's wealth of experience in business and governance would be of immense value in providing strategic direction to HCL Technologies in the future. We welcome him to the Board and look forward to taking HCL Technologies to newer heights, together."

Mindteck FY-01 net profit at Rs 29.51 million

Mindteck India Ltd has posted a net profit of Rs 29.51 million for the year ended June 30, 2001 as compared to a net loss of Rs 14.12 million for the year ended June 30, 2000. Total Income has increased from Rs 70.34 million in FY-00 to Rs 132.73 million in the year ended June 30, 2001. The Board of Directors has approved and recommended to the Company's shareholders, payment of Dividend @ 10% for the year ended June 30, 2001. The previous financial year ending June 2000 was for a period of 15 months. The Company has obtained the approval of the Foreign Investment Promotion Board and the Reserve Bank of India to the acquisition of Infotech Holdings Inc., USA by means of a share swap between the Company and the shareholders of Infotech Holdings Inc. Consequently, the entire equity capital of Infotech Holdings Inc. has been transferred in the name of the Company.

Wockhardt launches product with NDDS technology

Wockhardt Ltd amongst the Top-5 pharmaceutical majors in India is also amongst the leader in the Rs 1360 million antidepressant market. Wockhardt is building up an impressive product portfolio for consulting Psychiatrists and family Physicians, by regularly introducing newer products. The latest is the introduction of Venlafaxine capsules, with Novel Drug Delivery System [NDDS] technology, under the brand name FLAVIX-XR. FLAVIX-XR is unique compared to some of the existing product, which tackle only depression. Wockhardt's new product not only effectively treats depression, but also takes care of the accompanying anxiety. This comprehensive treatment in FLAVIX-XR is a significant advantage, as 90% of patients with depression have symptoms of accompanying anxiety itself triggering depression have symptoms of accompanying anxiety, with anxiety itself triggering depression at times. Additionally, because of its NDDS technology, patients will now need to take only a once-a-day dose for a 24-hour action, as opposed to multiple doses which are taken daily in other products. FLAVIX-XR therefore offers the patient a number of benefits - in terms of improved safety [due to controlled release of drug in the blood] convenience, compliance and predictable efficacy [less chances of missing a dose].

Dhandapani Finance forfeits equity shares

Dhandapani Finance Ltd has informed BSE that the Company has forfeited 2,26,465 equity shares due to non-payment of allotment/call monies.

BSE revises Special Margin on 44 scrips

BSE has informed the members of the exchange that the following scrips will attract Special Margins as indicated hereunder with effect from August 6, 2001. The rates of Special Margins have been revised keeping in view the closing price of the scrip on the last day of the settlement. Members are hereby informed that special margins will be imposed either on the net outstanding purchase or net outstanding sales positions as indicated below : CODE NAME GROUP SPMGR (PURCHASE)(%) SPMGR (SALE)(%) 6817 ABBOT LABS B1 25 512599 ADANI EXPORTS A 25 32335 AMBICA AGARBATT B1 25 7525 AMRIT BANASPATI B2 25 32382 BALAJI TELEFILM B1 25 32377 BATHINA TECHNOL B1 25 24170 DSQ BIOTECH B2 25 26624 ELBEE SERVICES B1 25 4250 FRAMATONE CONNE B1 25 31939 GENIUS COMM TRA B2 25 32312 GEOMETRIC SOFT B1 25 9079 GUFIC BIO SCIEN B2 25 31984 GUJARAT FISCON B2 25 523477 GUJARAT GAS A 50 193 HOTEL LEELA B1 25 530005 INDIA CEMENTS A 25 32175 INOTECH ENTERPR B1 25 500888 JAIPRAKASH INDS A 25 32209 JAMMU & KASHMIR B1 25 31115 JYOTI COSMETIC B2 25 532148 KOLAR INFOTECH B1 25 23411 KRONE COMMUNICA B1 25 500260 MADRAS CEMENTS A 25 32337 MASCOT SYSTEL B1 25 6954 MOTORALA SPEC B2 25 32350 PADMALAYA TELE B1 25 17447 R S SOFTWARE B1 25 7300 RAVALGAON B1 25 24632 RELISH PHARMA B2 25 23049 RINKI PETROCHEM B2 25 26089 ROOFIT INDUSTRY B1 25 13583 S B T INTERNAT B1 25 32118 SAI INFO SERVIC B2 25 31121 SIERRA OPTIMA B1 25 8976 SPANCO TELESYST B2 25 12299 STERLING BIOTEC B1 25 32348 SUBEX SYSTEM B1 25 32211 SUN EARTH CERA B1 25 532359 SUNBEAM INFOWAY B2 25 31830 TODAY'S WRITING B2 25 31554 TOP CASSETTES B1 25 506690 UNICHEM LABAROT B1 25 31717 VIDHI DYESTUFFS B2 25 32411 VISESH INFOSYST B1 25

Hughes Network & Tata Teleservices in negotiations for a possible combination concerning telephony telecom circle

Hughes Network Systems, a shareholder of Hughes Tele.com India Ltd (HTIL) and Tata Industries Ltd, a shareholder of Tata Teleservices Ltd (TTL) announced today (August 6, 2001) that they are in negotiations for a possible combination concerning the basic telephony circle and of TTL in the Andhra Pradesh telecom circle. Since discussions are currently underway, no further details can be made available for disclosure at this point of time. Further the company states that it should not be construed to imply that any definitive agreement has or will be reached between the parties.

Thermax to trim workforce, announces VRS for employees

As part of its ongoing business restructuring exercise, Thermax Ltd today (August 6, 2001) announced a Voluntary Retirement Scheme (VRS) for its staff, professional and management grade employees. Two variants of the scheme are on offer and the management estimates that 200 to 250 employees will opt for voluntary retirement. The scheme will be open till August 21, 2001. In scheme 1 employees who are 40 plus or with 10 years of completed service in the company are eligible. Scheme 2 is being targeted at the age group of up to 40 years. The compensation under the scheme is upto a maximum of Rs 0.625 million. The VRS offers an ideal opportunity for middle level management cadres and administrative support staff who have become surplus because of integration of businesses and streamlining of processes. The VRS is not being offered at the very senior levels. Though the scheme will have a financial burden of Rs 100 to Rs 150 million on the balance sheet, this move is in line with Corporate India's willingness to shed extra numbers to become lean and competitive. Thermax's current staff strength is about 1350, excluding group companies, which employ about 400. As part of the scheme, the company has put in place a Help Desk for investment and counselling services for employees who opt for voluntary retirement.

Gayatri Starchem appoints Additional Director

Gayatri Starchem Ltd has informed BSE that Shri T G Pandya has been appointed as Additional Director on the Board with effect from July 31, 2001.

Jagdish Capoor appointed as Director on Indian Hotels Board

In communication issued to the BSE, Indian Hotels Company Ltd has informed that Mr Jagdish Capoor has been appointed as a Director on the Board of Directors of Indian Hotels Company Ltd with effect July 27, 2001.

Kale commissions Airline Data Processing Centre bags contract with Qatar Airways

Kale Consultants Ltd, a leading developer of software products for Airlines and Banking industries, today (August 6, 2001) announced the commissioning of its world class Airline Revenue Services Centre (ARC) Located at Mumbai, the ARC is a high-tech setup with world class IT and telecommunication infrastructure. The ARC offers full spectrum revenue accounting and management services like ticket sales processing and stock reconciliation, flight/ travel processing, proration, interline billing and accounts reconciliation. In the area of revenue recovery, the service provided include sale and travel audit, refunds audit, tax and commission audit, OAL ticket audit, document re-pricing and ADM generation. Kale has already bagged its first order from Qatar Airways for the outsourcing of various services that include Revenue accounting, Recovery services, Deal Management, Proration and Decision Support. As part of this contract the services and solution to be provided to Qatar Airways are multifold. Kale will use its state-of-the-art solution RevERA for the Revenue Accounting processing service, FareGAIN for the Revenue Recovery service, iDeals for (web based) Deal Management solution and APEX for Proration. APEX will be used by Qatar Airways at their Head Office in Doha, while iDeals, being the web-based solution, will be used by their staff across the globe. Mr. Vipul Jain, Managing Director, Kale Consultants stated "In keeping with our business objective to provide end-to-end solutions to the Airline industry, we have opened our Airline Revenue Services Centre in Mumbai. We will provide our suite of products to provide value added services that will enable airlines to reduce costs, plug revenue losses and obtain management information faster. We are delighted to have Qatar Airways as our first customer and be a partner in their growth objectives." The CEO of Qatar Airways, Mr. Akbar AL Baker said "Fast and accurate Revenue Accounting is key to our ability to optimise revenue. We chose Kale because of their leading edge products and knowledge of the airline industry."

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