IDBI Bank unveils its new brand identity

IDBI Bank Ltd has unveiled its new Brand affirming the Bank's strategic foray into retail banking. The new identity aims at communicating the Bank's techno savy image and its commitment to providing its customers with world class service. The new Brand identity, signage, design and colour were launched today (February 15, 2001) at an impressive ceremony at Mumbai by Ms Manpreet Brar of Miss World fame. Speaking on the occasion, Mr Gunit Chadha, Managing Director and CEO of IDBI Bank said "The intent to re-brand and initiate a complete makeover reinforces our heightened focus on the retail banking segment. This new identity will provide us with the launching pad for significantly increasing our market share backed by top quality customer service." IDBI Bank has created a unified brand and has appropriated the lowercase, 'i' which signifies the individual in the Bank., the consumer and the Bank itself. "To communicate and re-affirm itself to customer service the Bank has adopted the mantra of "What can I do for you?" which is the basic expression of a service brand. The colour "teal", a mix of blue and green, was adopted as research as it is seen as a new age colour. The words 'idbi bank' were italicized and in lower case because of its relevance to the Internet age. Branch signage and interiors, stationery and communication material will be unified to build and reinforce the brand across and retail network. IDBI Bank plans to complete the makeover by March 31, 2001. The new brand identity comes on the back of Rs 400 million investment in information technology including Finacle banking software from Infosys. The Bank plans to expand it retail reach from 51 branches to 75 branches and introduce 230 higher end ATMs from the existing 69 over the next eighteen months.

IT Microsystems Board to consider Rights issue

A meeting of the Board of Directors of IT Microsystems (India) Ltd will be held on February 23, 2001 at Mumbai to consider and declare the Rights issue of equity shares of the Company.

Century Extrusions announces Rs 11.53 million as net loss for DQ 2000

Century Extrusions Ltd has reported a net loss of Rs 11.53 million in the quarter ended December 31, 2000 as compared to a net loss of Rs 10.57 million in the same period last fiscal. Net Sales are up by 6.14%, from Rs 84.59 million in DQ 99 to Rs 89.78 million in DQ 2000. Other Income for the quarter ended December 31, 2000 is at Rs 0.19 million as against Rs 0.11 million in the quarter ended December 31, 99. The Company has reported that 42,49,048 equity shares of Rs 10 each were issued for Cash at par on preferential allotment basis as approved by the shareholders at the EGM held on November 30, 2000. As a result of the said allotment, the equity share capital of the Company has increased to Rs 120 million.

High Court approves merger of Hinduja Finance Corp with three Companies

Hinduja Finance Corporation Ltd has informed BSE that the Hon'ble High Court of Mumbai has approved the merger of Hinduja Finance Corporation with the Companies mentioned as under: 1. Hinduja Telecom Ltd 2. Melody Trading Private Ltd 3. Richman Investrade Private Ltd The said approval has been given on February 14, 2001.

Sterlite Ind to bid for 51% stake in BALCO

Sterlite Industries Ltd has informed BSE that the Board of Directors of the Company has decided to submit a bid to the Government of India for acquiring 51% equity stake in Bharat Aluminium Company Ltd (BALCO.) The aforesaid bid is being made pursuance to the decision of Government of India to privatise BALCO through divestment of 51% stake with management control to a strategic partner.

Bright Star Inv open offer to shareholders of VST Industries at Rs 112 per share

ASK - Raymond James & Associates Ltd, on behalf of Bright Star Investments Ltd, has made an open offer to the shareholders of VST Industries Ltd. The offer has been made to acquire 30,88,384 equity shares representing 20% of the share capital of the Company at a price of Rs 112/- per equity share. The reasons for the Offer is to achieve a substantial increase in Brightstar's holdings of shares/voting rights in VST. The Company has fixed February 15, 2001 as the Specified Date for the open Offer (i.e. for the purpose of determining the names of shareholders to whom the Letter of Offer would be sent). The Date of Opening of the Offer has been fixed at March 30, 2001 and the Date of Closing is April 29, 2001.

HLL FY 2000 net up by 22.44%, Net Sales up by 4.55%

Hindustan Lever Ltd has announced a net profit of Rs 13100.90 million in the year ended December 31, 2000 as against Rs 10699.40 million in the year ended December 31, 99. Net Sales are higher at Rs 106037.90 million in FY 2000 as compared to Rs 101424.90 million in FY 99. Other Income for the year ended December 31, 2000 is at Rs 3450.70 million as compared to Rs 3189.80 million in the year ended December 31, 99. The Board of Directors has proposed a final Dividend of Rs 2 per share for the year ended December 31, 2000 subject to the approval of the shareholders. Together with the Interim Dividend of Rs 1.50 per share, the total Dividend for the year works out to Rs 3.50 per share of Re 1. The Company reports that overall sales during the year recorded a growth of 4.5%. In Personal Wash, the premium and discount portfolios grew well with the carbolic segment registering a decline. Fabric Wash and Household Care recorded satisfactory growth. Personal Products grew modestly. A declining trend in Tea sales was reversed, led by improvement in volumes In the Premium segment. Oils and Fats, Branded Staples and Culinary Products recorded strong growth. Exports, led by Personal Care, Beverages and Marine categories, grew strongly. Supply Chain savings and Improved mix have contributed to an improvement in operating margin. The Company has incurred Rs 1093.30 million as Business Restructuring costs during FY 2000.

BSE imposes special margin on Monnet Ispat

BSE has imposed a special margin of 25% per share on the securities of Monnet Ispat Ltd. The Margin is with effect from today (February 15, 2001.)

Kale Consultants Board defers issue of options to British Airways Plc

Kale Consultants Ltd has informed BSE that the Board of Directors of the Company, at its meeting held on February 12, 2001 has noted that the issue of Shares/Options to British Airways Plc, UK has lapsed. The Company had already obtained the consent for the issue of options to British Airways Plc, Ukvide the Special Resolution passed in the Annual General Meeting of the Company. The Company has reported that it may issue shares/options to British Airways Plc, UK in future as a part of the total acquisition deal (acquisition of software assets etc of Speedwing, a division of British Airways, Plc, UK).The same will be made subject to necessary compliance under the Companies Act, 1956 and the Guidelines prescribed by the SEBI in that regards for preferential issue of shares/options.

Polaris launches "Component Warehouse"

Polaris Software Lab Ltd has announced today (February 15, 2001), the launch of its technology framework called the "Component Warehouse" by which the software development process time, in Polaris' core area of the Banking and Financial Services segment, can be reduced dramatically and thereby enabling its customers to deploy customised solutions more than 300% faster than ever before. The framework of "Component Warehouse" has several unique advantages: 1) Multi-lingual support - Banks and financial institutions in America are now expanding into Europe and Asia by organic growth or by acquisitions. This new technology framework will help banks to service large customer bases in non-English speaking countries like Japan, China and several parts of Europe by deployment of standard solutions with the multi-lingual capability 2) Multiple currency formats - Countries like Indonesia, Turkey and Germany need specific and unique currency formats. The Component Warehouse framework offers flexibility to customers to tailor the solution without really changing the source code, within and outside of the various formats. 3) Integration of a variety of databases - Banks, growing through the acquisition process need to manage disparate and disconnected databases. This new framework provides the ability to create a common front-end system that connects to different databases and enables institutions to integrate operations with ease and speed. With its ability to support various databases such as Oracle, SQLserver, Sybase and DB2, the Component Warehouse framework seamlessly integrates multiple database systems. In order to complete this suite of components to be offered to its clients, Polaris has made a strategic investment in a German Company, Sidoun GmbH, and has acquired exclusive global rights for the usage of specific infrastructure technology components. Sidoun GmbH has offered 20% additional equity for an investment of DM 2.3 million (USD 1.10 million) by Polaris Software. Access to these technology components has enabled Polaris to integrate suite of the components and framework to offer a comprehensive 'Component Warehouse'.

Century Textiles to transfer entire stake in Centak Chem to Akzo Nobel

Century Textiles and Industries Ltd, one of the promoters of Centak Chemicals Ltd has entered into an agreement with Akzo Nobel Chemicals International B.V., the Netherlands, on February 14, 2001. As per the aforesaid agreement, Century Textile's entire holding of 7,84,000 equity shares of the face value of Rs 10 each in Centak Chemicals will be sold to Akzo Noble Chemicals International B.V. at the rate of Rs 200 per share. The aforesaid transfer is subject to obtaining approval from the Reserve Bank of India and other concerned authorities. Akzo Nobel Chemicals International B.V. is also one of the promoters of Centak Chemicals Ltd.

Infosys allots shares under Stock Options Scheme

Infosys Technologies Ltd has informed BSE the Company has allotted 150 equity shares of par value of Rs 5 per share to the Bankers Trust Company, New York, the Depository to the Companys ADS issue as underlying shares in respect of 300 ADRs to be issued and allocated to the purchasers. The aforesaid allotment is pursuant to the exercise of 300 options granted to employees under the 1998 Option Plan on receipt of payment of the subscription monies aggregating $26,850. The Company has also informed BSE that it has allotted an aggregate of 240 equity shares of par value Rs 5 per share to an individual optionee. This allotment is pursuant to the exercise of the 240 options granted to the employee under the 1999 Option Plan, on receipt of payment of the subscription monies in respect of the said shares aggregating Rs 9,75,612.

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