The Board of Directors of Infosys Technologies Ltd at their meeting held on November 7, 2002 transacted the following items of business:
Allotted 1012 equity shares of par value of Rs 5 each to the optionees, pursuant to the exercise of options granted under the companys 1999 option plan.
Allotted 930 equity shares of par value of Rs 5 to Bankers Trust Company, the Depositary to the company's ADS issue as underlying shares in respect of 1860 ADSs to be issued and allocated to the purchasers pursuant to the exercise of 1860 options granted to employees under the Companys 1998 Option Plan.
Aurobindo Pharma Board to consider amalgamation of Ranit Pharma & Calac
A meeting of the Board of Directors of Aurobindo Pharma Ltd will be held on November 15, 2002 to consider amalgamation of Ranit Pharma Ltd & Calac Private Ltd with the company.
Nestle India satisfied with performance and will remain focussed
Carlo M Donati, Chairman & Managing Director and Michael T Scales, Director Finance & Control restated Nestle India's commitment to the economic model that focuses on seven value drivers that are a mix of sales growth, capital efficiency and profit margins. They also reiterated commitment to the four strategic pillars for the company's operations-low cost operations, innovation & renovation, improved product availability and effective consumer communications.
Donati said, " We are clear in our strategy and the search for excellence continues. Nestle India has continued to grow the domestic market even though the performance of FMCG companies has not been particularly healthy. I am optimistic that continued focus on our business and ongoing initiatives to facilitate innovation and renovation, distribution management and consumer communications will help us to sustain our performance."
Wipro Infotech keen to build its business in Qatar
Wipro Infotech, the Middle East, India and Asia Pacific IT division of US$ 715 million Wipro Ltd is keen to offer IT Services to the Qatar market. Having started operations in June 2001, in just under two years, it has built a strong customer base in UAE and Saudi Arabia.
Wipro, India's leading IT Services organisation, has announced that it has just been chosen as Doha Bank's strategic IT Partner for providing Enterprise Application Integration and Security consulting services, which are seen as critical to the Bank's core business. Mr Azim Premji, Chairman, Wipro Ltd made the announcement at a press conference in Doha on November 03, 2002 in the presence of H E Mr Ranjan Mathai, Ambassador of India to the State of Qatar and H E Sheikh Ghanim Bin Awaidah Al -Thani, Chairman, ITS Group.
Azim Premji, Chairman, Wipro Ltd, said, "We are proud to partner with Doha Bank in their prestigious project. This project is really a showcase of their faith in our global best practices, technology and software integration expertise and quality processes."
Rolta India sets up a wholly owned subsidiary in UK
Rolta India Ltd has informed BSE that it has launched its operations in UK through a wholly owned subsidiary - Rolta UK Ltd (RUK)
Rolta UK is headquartered in the high-tech Information Technology corridor of Hampshire and will offer the complete range of services in the areas of GIS, Automated Mapping & Facilities Management, Plant Design Automation, Mechanical Design Automation, Plant Life Cycle Management and eBusiness.
Speaking on the occasion, Mr K K Singh, Chairman & Managing Director of Rolta India Ltd said, "With this move, we plan to consolidate & scale up our operations in Europe and UK, as we foresee opportunities continuing & multiplying for us in these markets.
Mr Mark Edwards, currently Managing Director of Rolta Saudi Arabia and Rolta Middle East, has also been appointed as the Managing Director of Rolta Europe, Rolta Germany and Rolta UK.
Varun Shipping acquires its fourth LPG Carrier
Varun Shipping Company Ltd has informed BSE that it has acquired its fourth LPG Carrier M V Maharshi Dattatreya. The new vessel has a cargo carrying capacity of 24130 m3 . The vessel M V Maharshi Dattatreya will be used initially to trade in US, Gulf, US East Coast and Caribbeans, to transport LPG and Ammonia.
The company has also informed that it now owns the largest LPG fleet in the country with 61 percent of the total commercial LPG tonnage operating under the Indian Flag.
HDFC allots shares under ESOS
Housing Development Finance Corporation Ltd has informed BSE that at the meeting of the allotment committee of Directors held on November 08, 2002 the Corporation has allotted 39624 equity shares of Rs 10 each under the Employees Stock Options Scheme (ESOS).
IFCI director resigns
IFCI Ltd has informed BSE that Dr Ashok Lahiri has resigned from the board with effect from October 17, 2002.
SRF Polymers discontinues buyback scheme
BSE has informed the members of the exchange that SRF Polymers Ltd will discontinue with the scheme of buyback of its fully paid-up equity shares of face value of Rs 10 each from the Open Market through the trading mechanism of the Exchange.
Accordingly, the scheme of buyback of shares of SRF Polymers Ltd. will not be available in Physical as well as Demat form with effect from November 8, 2002 and trading under the following scrip code for physical mode will be suspended:
Ador Technopak suspends operations at its Nashik Unit
Ador Technopak Ltd has informed BSE that the management of the company has decided to suspend the operations of the company's manufacturing facilities situated at 31, MIDC, Satpur, Nashik with effect from November 7, 2002 due to non co-operation of the workers.
Godrej Industries completes the purchase of shares pursuant to the scheme of arrangement
Godrej Industries Ltd has informed BSE that it has completed the purchase of the shares pursuant to the scheme of arrangement between the company and its equity shareholders, which was approved by the high court. The company has also discharged the consideration as provided under the scheme. The public shareholding after the aforesaid purchase is 11.39%.
The company has also informed that according to respective clauses of the scheme the trading in the Company's shares can commence
Surana Metals & Steels announces Change in Management Structure
Surana Metals & Steels has informed BSE that Mr Anandprakash Agarwal has resigned from the Board with effect from October 25, 2002. The company has also informed BSE that Mr Krishna Udupa and Mr S R Muhury have been appointed as directors of the company with effect from October 29, 2002.
Tata Chemicals appoints new CFO
Tata Chemicals Ltd has informed BSE that Mr P K Ghose has been appointed as Chief Financial Officer of the company with effect from November 1, 2002.
Pegasus Castalloy appoints two new directors
Pegasus Castalloy Ltd has informed BSE that Mr Junichi Suzuki and Mr Tetsuro Masui have been appointed as directors of the company on September 30, 2002. They are representing Enkei Corporation, Japan, who is holding 38% of the paid-up capital of the company.
Venkat Pharma appoints Company Secretary & Compliance Officer
Venkat Pharma Ltd has informed BSE that Mr B Rajeswara Rao is appointed as Company Secretary & Compliance Officer of the company with effect from November 5, 2002
Frontier Info Tech director resigns
Frontier Information Technology Ltd has informed BSE that Mr V Agam Rao has resigned from the Board with effect from October 31, 2002.
Alagendran Finance announces Change in Management Structure
Alagendran Finance Ltd has informed that Mr K S Appadurai has been appointed as a Compliance Officer of the company with effect from November 1, 2002 consequent to resignation of Mr K Ramasubbu, Finance Manager cum Company Secretary from the services of the company.
Amara Raja Batteries announces change in management structure
Amara Raja Batteries Ltd has informed BSE that Mr K Satish Reddy and Mr Douglas C Brown have resigned from the Board with effect from October 25, 2002. The company has also informed that Mr Raymond J Brown has been appointed as Director of the company with effect from October 25, 2002.
GMM Pfaudler fixes record date for Bonus Issue
GMM Pfaudler Ltd has fixed December 4, 2002 as record date for the purpose of issue of One Bonus share for every Two existing Equity shares held. The transactions in the equity shares of the company should be done on an ex-bonus basis with effect from December 2, 2002. The transaction in the equity shares of the company should be done on cum-bonus basis upto November 29, 2002.
Colgate Palmolive to consider declaration of Interim Dividend
Colgate Palmolive (India) Ltd has informed BSE that a meeting of Board of Directors of the company will be held on November 15, 2002 to consider declaration of interim dividend for the year ending March 31, 2003.
Wipro clarifies on news item
With reference to the news article captioned " Wipro, TCS win $70m/yr Lehman deal" in a leading financial daily, Wipro Ltd has informed BSE that the customer namely Lehman Brothers has given the company an LOI and the final contract is under negotiation. The company has nothing to add or refute on the content of the news item.
Jubilant Organosys to seek members approval for Scheme of amalgamation
Jubilant Organosys Ltd has informed BSE that the High Court of Allahabad has directed the Company to seek shareholders approval for the Scheme of Amalgamation of Vam Leasing Ltd with the Company. The EGM for the said purpose will be held on November 24, 2002.
