Satinder Kumar Saini resigned from the Board of Brawn Pharma
Brawn Pharmaceuticals Ltd has informed BSE that the Board of Directors at its meeting held on December 10, 2002 has accepted the resignation of Shri Satinder Kumar Saini as Director of the Company.
S Balachandra appointed as CS of Surana Telecom
Surana Telecom Ltd has informed BSE that S Balachandra has been appointed as Company Secretary and Compliance Officer with effect from December 12, 2002.
LIC sells Indian Aluminum Co Equity Shares to Hindalco
Life Insurance Corporation of India has informed BSE that it has sold 4,020,559 Equity Shares of Rs 10 each of Indian Aluminium Company Ltd @ Rs 120 per share to Hindalco Industries Ltd along with M/s Renukeshwar Investments and Finance Ltd.
DSP Merrill Lynch increases stake in Fund Management and Trustee Subsidiaries
DSP Merrill Lynch Ltd has informed BSE that it has now completed the formalities for purchase Merrill Lynch's (ML) stake in DSP Merrill Lynch Investment Managers Ltd (DSPMLIM) and DSP Merrill Lynch Trustee Company Pvt Ltd (DSPML Trustee Company). Accordingly, DSPML holds a 99.99 % stake of DSPMLIM and 49 % stake in DSPML Trustee Company.
Mining activity resumes at Binani Cement - a subsidiary of Binani Industries
Binani Industries Ltd has informed BSE that the Supreme Court on December 16, 2002 lifted its total ban on mining activities in the Aravali range and permitted the same in forest areas if prior permission was obtained under the laws. Consequently, the ban does not apply to Binani Cement Ltd, the wholly owned subsidiary of the Company and the normal mining and production activities are continuing.
Golkonda Engg Enterprises to seek members' approval for issue of further capital
Golkonda Engineering Enterprises Ltd has informed BSE that a meeting of the Board of Directors is scheduled on December 20, 2002 to decided the date of the Extraordinary General Meeting of the Company on January 15, 2003, in connection with the issue of further capital.
IFCI sells 7.38 % Equity Stake in Lustre Tiles
IFCI Ltd has informed BSE that it has on December 12, 2002 completed a negotiated deal for sale of 163,135 Equity Shares of Rs10 each of Lustre Tiles Ltd to its promoters at Re1 per share. The above deal constitutes 7.38 % of the paid up capital of Lustre Tiles Ltd.
Ambalal Sarabhai Enterprise seeks members' approval for the scheme of Demerger
Ambalal Sarabhai Enterprise Ltd has informed BSE that the Extraordinary General Meeting of the Shareholders of the Company is scheduled on January 07, 2003 as per the direction of High Court of Gujarat for the scheme of Demerger and transfer of Investments division of the company to Mautik Exim Ltd.
e.Com Infotech ties up with Maryland University, USA
e.Com Infotech India Ltd has informed BSE that it has made a tie-up with Maryland University, USA to offer their Distance / e-Learning Programs in India and Asia. The Company will be Marketing & Delivering their MS-Bio-informatics, MBA-Bio tech, e-commerce and other MBA programme through Distance / e-Learning. The Company has made a separate Division namely ECI EDUCATION to handle the Educational Business of the Company.
DSCL Energy Services becomes a subsidiary of DCM Shriram Consolidated
DCM Shriram Consolidated Ltd has informed BSE that DSCL Energy Services Company Ltd (DESCL) has become a subsidiary of its another subsidiary, DCM Shriram Credit and Investments Ltd. Consequently DESCL has become a subsidiary of DCM Shriram Consolidated Ltd.
Oasis Media Matrix revises Record Date for Stock Split
BSE has informed it Members that Oasis Media Matrix Ltd has decided to revise the Record Date as January 07, 2003 as Record Date for the purpose of splitting of shares of the company from face value of Rs 10 to face value of Re 1. The reduced paid up value will be effective from December 30, 2002.
Earlier the company had fixed December 23, 2002 as Record Date for the said Stock Split.
Indian Seamless Metal Tubes announces change in Management Structure
Indian Seamless Metal Tubes Ltd has informed BSE that the Board of Directors at its meeting held on December 16, 2002 approved the following:
1. Appointment of Mr Salil Taneja, Director as Executive Vice Chairman of the company with effect from January 01, 2003
2. Appointment of Mr Rajiv Goel, Joint Managing Director as Executive Vice Chairman of the company with effect from January 01, 2003.
3. Appointment of Mr N Chandra, Director as Managing Director with effect from January 01, 2003.
4. Mr J P Sureka, Vice Chairman to act as a Director.
BSE to suspend trading in securities of Padmini Technologies
BSE has informed its members that the trading in the securities of Padmini Technologies Ltd will be suspended with effect from December 19, 2002 for non-resolution of Investor Complaints.
Orchid acquires business of Mano Pharma
Orchid Chemicals & Pharmaceuticals Ltd. (Orchid) the Chennai based pharma major on December 16, 2002 announced that it is acquiring the assets, brands and business, including plant of Chennai based formulation company Mano Pharmaceuticals (including its sister company Sali Healthcare) in an all cash deal of Rs 260 million. Mano (with its smaller sister concern Sali) is headquartered in Chennai and specializes in neuro-psychiatry, cardiovascular and anti-diabetic drugs. The company was established in 1994 by a marketing professional turned entrepreneur, Mr. Y Jagan Mohan. Mano's 12-month turnover (December 2001- November 2002) has been Rs 280 million.
Orchid which has been exploring entry into speciality/chronic therapy areas in the formulations business for some time chose Mano Pharma after reviews and due diligence by auditors and external agencies. The board of Orchid, which met on December 16, 2002, accorded its approval to the proposal. The deal will be effected after necessary formalities are completed by end of December 2002.
"We have been considering inorganic growth opportunities to fast-track our formulation growth plans. This acquisition fits well into our strategic plan as it enables a ready operating base in the high growth segments. Our formulations business, founded on anti-infectives product range is on a strong platform and this acquisition provides the needed diversification into high growth, high potential speciality therapies. We are confident of leveraging this acquisition for greater growth in the formulations business both in the domestic and international markets," said Mr. K Raghavendra Rao, Managing Director, Orchid Chemicals & Pharmaceuticals Ltd.
Eonour Tech implements Telecom Solution for Fujitsu
Eonour, a Chennai based technology solution provider had recently bagged an order from Fujitsu for supply for software for CDMA WLL system
Fujitsu India has bagged an order from MTNL for 50,000 lines for supply, installation and commissioning of CDMA based WLL Network at Mumbai. This requirement on the telecom software had been outsourced by Fujitsu to eonour technologies.
A prestigious project, and a first for eonour, this will be eonour's foray into the telecom industry.
According to Mr R Karthik, CEO "This is a prestigious project for eonour; it only reiterates our belief that in order to stay current in the technology market, one should constantly reorient oneself to the latest, this project is another feather in our cap as it also puts us up in the telecom software frontier."
