Nath Seeds to be included in BSE-500

BSE has informed the members of the exchange that w.e.f from Monday, August 13, 2001, Nath Seeds Ltd. would become part of BSE-500 index in place of Cyanamid Agro Ltd. (Scrip Code 32207) Cyanamid Agro Ltd. is amalgamating with BASF India Ltd. and the scrip of Cyanamid Agro Ltd. is entering into 'no-dealings' status from Monday August 13, 2001.

Chordia Food Products to discontinue manufacturing activities in Yawat Unit

Chordia Food Products Ltd has informed BSE that the Board of Directors of the company has decided to discontinue the manufacturing activities at its Yawat Unit. The company is in the process of shifting the Plant and Machinery from its Yawat Unit to Shirwal and thus the turnover and profitability of the company will not be affected. The company continues with manufacturing the total capacity of all of its existing products. These measures will help in improving the profitability of the company, in view of consolidation of activities and reduction of overheads.

United Breweries Board declares 15% dividend

The Board of Directors of United Breweries Ltd at its meeting held today (August 9, 2001) has decided to recommend a dividend on 37,734,927 equity shares at Rs 1.50 per share (15%) if the same is accepted by the members present at the Annual General Meeting.

BHEL to consider recommendation of dividend

A meeting of the Board of Directors of Bharat Heavy Electricals Ltd is scheduled to held on August 14, 2001 to recommend dividend on equity Shares.

SSI FY-01 results on August 27, 2001

A meeting of the Board of Directors of SSI Ltd has been convened on August 27, 2001 at Chennai to transact the following business. 1. The Audited Financial results of the company for the financial year ended June 30, 2001 2. Annual Accounts of the company for the financial year ended June 30, 2001 3. Recommendation of dividend for the financial year ended June 30, 2001

United Breweries Board approves demerger of brewery business

The Board of Directors of United Breweries Ltd (UBL) at their meeting held today (August 9, 2001) has approved the proposal drawn up in consultation with Infrastructure Leasing and Financial Services Ltd (ILFS) and Deloitte Haskins & Sells (DHS) for de-merger/re-structuring of the brewery business to a dedicated company (BREWCO) under the provisions of Section 391-394 of the Companies Act, 1956 and Section 2 (19AA) of the Income Tax Act and accordingly a Committee of the Board has been constituted to implement the scheme of de-merger/re-structuring and initiate appropriate action as are required under the various Statutes and to do all acts deeds, and things required for the purpose. The Board of Directors of the company has recommended the issue of Four (4) new equity shares in BREWCO for every ten (10) shares held in UBL with a corresponding reduction in the share capital of UBL. BREWCO is currently a 100% subsidiary of UBL that holds the brewery related investments of UBL. Presently it has a paid up capital of Rs 28 million comprising 2.80 million equity shares of Rs 10 each. Consequent to the demerger, the equity capital of BREWCO will stand increased to Rs 183.70 million comprising of 18.37 million shares of Rs 10 each and the share capital of UBL will stand reduced to Rs 224.06 million. The scheme of demerger is proposed to be effective from August 01, 2001 and will be subject to relevant approval of the shareholders, the Honourable High Court of Karnataka and other required approvals.

Camlin Board approves delisting of equity shares from non-regional stock exchanges

Camlin Ltd has informed BSE that the Board of Directors of the company has approved delisting of equity shares on Ahmedabad, Chennai and Delhi Exchanges, subject to necessary approvals.

CMC to consider FY-01 accounts on August 20, 2001

A meeting of the Board of Directors of CMC Ltd would be held on August 20, 2001 to inter-alia, consider the Annual Accounts for 2000-2001, recommendation of dividend if any, and other matters.

ITW USA to make an open offer to shareholders of ITW Signode at Rs 80 per share

Illinois Tools Works Inc, USA ("ITW. U.S.A.) is making a voluntary offer to acquire 11,209,354 fully paid up equity shares of Rs 10 each of ITW Signode India Ltd ("ITW Signode") at an offer price of Rs 80 per fully paid up equity share payable in cash. The offer is subject to a minimum level of acceptance of 6,634,451 number of fully paid up equity shares of Rs 10 each of ITW Signode, representing 29% of the outstanding equity share capital of ITW Signode. ICICI Securities & Finance Company Ltd is acting as the Manager to the offer. ITW, U.S.A currently owns 11,668,062 fully paid up equity shares of Rs 10 each representing 51% of the equity share capital of ITW Signode and is seeking to consolidate its holding in ITW Signode. If a result of this offer the public shareholding falls to 10% or below steps will be taken to delist ITW Signode India Ltd. The Offer will open on October 1, 2001.

Tata Infomedia fixes Record Date for bonus issue

BSE has informed the members of the exchange that, Tata Infomedia Ltd has fixed the Record Date as September 13, 2001 for the purpose of the issue of one bonus shares for every two existing equity shares held. Transaction in the equity shares of the aforesaid Company will be on cum-entitlement basis upto August 24, 2001 and on ex-entitlement basis from August 27, 2001.

Balrampur Chini Mills to set up an integrated Sugar Complex

Balrampur Chini Mills Ltd has informed BSE that the company proposes to set up an integrated Sugar Complex in the Dist. of Bara Banki, Eastern U.P.

STG to Extend Infosys' Service Model

Infosys Technologies Ltd announced that it has appointed Delhi based Software Technology Group (STG) International Ltd, a leading IT services company providing advanced software education, corporate training and e-business solutions, as a Services Partner for Finacle, its flagship Core Banking Solution. STG, will deliver training and implementation services to the rapidly growing family of Infosys Finacle customers in India. Initially, STG will have to undergo intensive classroom and on-the-job training on Finacle Product. Upon successful completion of this process, STG will qualify as a Certified Services Partner and will be able to offer implementation and training services directly to Finacle customers. "We welcome STG to Infosys Services Partnership forum. We are committed to providing our customers a wide range of services options. Such alliances, while on one hand will create a richer value proposition to our customers, on the other will offer significant business opportunities for our partners. Partners like STG will be able to leverage their core strengths-training and people -to deliver value to our Finacle customers and grow in the process." said Mr. Haragopal, AVP & Head, Professional Services Group, Banking Business Unit Infosys Technologies Ltd. In his statement, Dr.Suresh Nanda, CEO STG International Ltd. said, "We are happy to be a part of this path-breaking product that will revolutionize the disparate Banking systems that exists today. Finacle is by far the best product that exists today for Indian public and private sector banks because it provides these banks state-of-the-art centralised core banking features and hence an opportunity to meet the changing needs of tomorrow. STG's rich experience in training and services will equip Finacle customers so that they can service their clients better".

Akzo Nobel Chemicals makes second open offer to shareholders of Centak Chemicals at Rs 200 per share

Akzo Nobel Chemicals International B V (Akzo Nobel Chemical) had through an open offer that closed on June 16, 2001 acquired 18.01% of the equity share capital of Centak Chemicals Ltd (Centak) due to which Akzo Nobel Chemical's shareholding in Centak has now increased to 92.99%. Since the shareholding of the Akzo Nobel Group has exceeded 90% as required by Regulation 21(3) of the Securities & Exchange Board of India (Substantial Acquisition of Shares &Takeovers) Regulations 1997 (the Regulations), the Akzo Nobel Group is now making a subsequent cash offer to purchase the remaining shares of Centak at a price of Rs 200 per equity share (the offer). The offer will be open from August 13, 2001 to February 12, 2002 and payment in respect of shares accepted in the offer will be made in cash to the shareholders shortly after the shares are tendered. Pursuant to Regulation 21(3) of the Regulations, Akzo Nobel Chemicals International B V has requested Centak to apply for delisting of shares from the stock exchanges. Delisting of the shares from the stock exchanges would mean that the shares are no longer traded on the stock exchanges and the remaining shareholders who have not tendered their shares will lose the liquidity option by not being able to sell the shares on the stock exchanges.

Bayer increases stake in Bayer Sanmar to 100%

Bayer Industries Private Ltd (a 100% subsidiary of Bayer AG Germany) has increased its stake from 51% to 100% in Bayer Sanmar. Bayer Sanmar manufacturers and markets thermoplastic polyurethane (TPU) used in a wide variety of industries, and is headquartered in Chennai in the state of Tamil Nadu. Established in 1996, Bayer Sanmar was a joint venture of Bayer and the Chennai based Sanmar Group The acquisition comes against the background of the increasing importance of thermoplastic polyurethane to Bayer as a high performance plastic resin in India as well as abroad, and the separation was on mutually acceptable and friendly basis.

ITC clarifies on news item

With reference to news item appearing in a financial daily ITC Ltd has informed BSE that the company has not acquired any shares of EIH Ltd.

Srei Int Fin ties up with Bajaj-Allianz Gen Insurance Co

SREI International Finance Ltd (SREI) the leading national infrastructure finance company has recently promoted a wholly owned subsidiary SREI Insurance Agency and Broking Limited (SREI Insurance) to function as corporate Life and Non Life Insurance Agents at present and as Brokers of all other Insurance products as and when the legislation permits. SREI Insurance has signed a Memorandum of Understanding (MOU) with Bajaj Allianz General Insurance Company limited (Bajaj-Allianz) in order to promote and market the non life insurance business and other related products. The agreement proposes the corporate agency course for distribution of the producers of Bajaj Allianz who shall provide training & training materials, marketing materials and the MIS necessary for synchronization with the policies issued to the customers which will be secured by SREI Insurance. Bajaj Allianz is a joint venture between Allianz AG, one of the worlds largest insurance and financial services groups and Bajaj Auto Limited, India's leading two and three wheeler manufacturer. Incorporated on 19th September 2000, Bajaj Allianz received the IRDA Certificate of Registration (R3) on 2nd May 2001 to conduct General Insurance business in India. The Company has an authorised and paid up capital of Rs 1100 million and offers a gamut of products that include Motor, Property, Rural, Engineering and Health Insurance. The company in this short period of time has written the largest number of Policies amongst the private insurers.

Automotive Axles announces change in management structure

Automotive Axles Ltd has informed BSE the changes in Company's Directorship: (a) Mr. Blake G. Palmer, appointed as Additional Director effective July 25, 2001. (b) Mr. Ashok Rao, appointed as Executive Director (Operations), effective July 25, 2001. (c) Mr. C.K. Sabareeshan, appointed as Executive Director (Finance), effective July 25, 2001. (d) Mr. Larry Burgin, resigned as Director, effective July 23, 2001.

SRG Infotec fixes Record Date for consolidation of equity shares

SRG Infotech Ltd has fixed September 03, 2001 as the record date for the purpose of consolidation of existing equity shares-from every ten existing equity share of Rs 1 each into one equity share of Rs 10 each. Consolidated Paid up value will be w.e.f from August 20, 2001. The auction in the equity shares of SRG Infotec Ltd., on August 20, 2001 and August 27, 2001 will be conducted as per face value of Re.1 each. Members are, therefore, requested to take abundant precautions while mentioning the rates for offering the equity shares of the said company in auction on August 20, 2001 and August 27, 2001.

Asahi India Safety Glass fixes Record Date for Bonus Issue

BSE has informed the members of the exchange that, Asahi India Safety Glass Ltd has fixed the Record Date as September 01, 2001 for the purpose of the issue of one bonus shares for every one existing equity share held. Transaction in the equity shares of the aforesaid Company will be on cum-entitlement basis upto August 17, 2001 and on ex-entitlement basis from August 20, 2001.

Ranbaxy divests stake in Eli Lilly Ranbaxy

Ranbaxy Laboratories Ltd today (August 8, 2001) closed the transaction for divestment of its 50% equity stake in favour of Eli Lilly in Eli Lilly Ranbaxy Ltd (ELR) a 50:50 joint venture between Lilly and Ranbaxy. Pursuant to this, Ranbaxy received approximately US$ 17 million from Lilly. Under the new arrangement, Ranbaxy will continue to manufacture some of the Lilly products at its manufacturing facilities. All the nominees of Ranbaxy on the Board of Directors of ELR will resign at a meeting of the Board scheduled to he held later today. Commenting on the occasion the CEO & Managing Director of Ranbaxy Mr D S Brar said "We have an excellent relationship with Lilly and have enjoyed working together over the years in building ELR. We wish them all success."

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