Associated Cement Cos. Ltd has informed BSE that Company's production and despatch figures in August, 2002 were as follows: -
August 2002
Cement Production -- 1.104 million tonnes
Cement Despatches -- 1.098 million tonnes
August 2001
Cement Production -- 0.887 million tonnes
Cement Despatches -- 0.883 million tonnes
Cumulative production and despatches from April 2002 to August 2002 are
April-August 2002
Cement Production -- 5.813 million tonnes
Cement Despatches -- 5.813 million tonnes
April-August 2001
Cement Production -- 4.852 million tonnes
Cement Despatches -- 4.842 million tonnes
K K Birla resigns from Directorship of Oudh Sugar Mills
Oudh Sugar Mills Ltd has informed BSE that at the Board Meeting held on Monday, the Directors accepted the resignation of Dr K K Birla, a Chairman and Director of the Company. In terms of this, he ceases to be a Director of the Company w e f August 16, 2002.
Sutlej Ind unit - Damanganga Fabrics to enter into working arrangement for running processing unit owned by Damanganga Processors
Sutlej Industries Ltd has informed BSE that as per the decision taken by the Board in its meeting held on Monday the Company's unit Damanganga fabrics will enter into working arrangement for running the processing unit owned by Damanganga Processors Ltd at a sum of Rs 1.50 million per month under a working arrangement w e f October 01, 2002 for a period upto March 31, 2004 with an option to renew for such period and sum as may be mutually agreed between both the Companies.
IDBI withdraws nomination of Dr P K Basu from Tata Chem Board
Tata Chemicals Ltd has informed BSE that consequent to repayment of loan, IDBI has withdrawn the nomination of Dr P K Basu from the Board of Directors of the company wef August 19, 2002.
Amex Information into new venture in providing services for internet telephone call termination
Amex Information Technologies Ltd has informed BSE that with the opening of the technology services in India, has entered into agreement through its subsidiary in UK with various ISP license providers in India to route VOIP calls abroad through their switch in UK. The company is targeting turnover of Rs 50-70 million during 2002-2003 from this business.
IBM Global Services is chosen by Bharat Overseas Bank to implement the centralised banking solution
i-flex solutions Ltd has informed BSE that Bharat Oversea Bank Ltd (BOBL) has chosen IBM Global Services, the services arm of IBM India Ltd to implement the centralised banking solution. Mr G Krishnamurthy, Chairman Bharat Overseas Bank and Mr Abraham Thomas, Managing Director, IBM India Ltd on Monday signed an agreement. The scope of this assignment is to implement Core Banking, TeleBanking and Internet Banking Solutions at identified branches of the bank. This would enable the bank to offer a wide range of personal, commercial and corporate banking to its customers.
IBM Global Services has been selected by BOBL to be the single point of contact for project implementation and system integration. IBM Global Services will be partnering with i-flex to implement their core banking solution FLEXCUBE and Servion for their phone banking solution.
"In the highly dynamic and competitive Indian banking environment, FLEXCUBE as a core-banking solution provides banks the advantage of centralized operations, risk management & control and ability to offer wide range of products and services. I commend the management of BOBL in taking this farsighted decision, which will enable the Bank move into the next generation of banking," said Rajesh Hukku, Chairman & Managing Director, i-flex solutions Ltd.
Members of IFB Industries approve rights issue of equity shares
IFB Industries Ltd has informed BSE that in its AGM held on August 30, 2002 the special resolutions were passed by the members:
1) Rights Issue of equity shares of Rs 10 each at par in ratio of one equity share for every four equity shares held by such members on the record date as maybe determined by the Board.
2) Preferential Issue of 25,00,000 equity shares of Rs 10 each at par to the promoters group.
3) Preferential issue of 49,90,000 equity shares of Rs 10 each to IDBI and 12,50,000 equity shares of Rs 10 each to ICICI Bank Ltd in lieu of and against conversion of part of the rupee loans taken by the company.
4) Capital Reduction and writing off accumulated loss.
Wipro increases stake in Spectramind eServices Private Ltd
Wipro Ltd announced on Monday today (September 2, 2002) that it had entered into a definitive agreement to acquire the entire equity holding that is owned by American Express Travel Related Services Company Inc in Spectramind eServices Private Ltd, comprised of equity shares and warrants, for an aggregate consideration of Rs 170 million.
Wipro will acquire from American Express Travel Related Services Company Inc, equity shares representing 2% of the out standing equity shares of Spectramind eServices Private Ltd and warrants to purchase equity shares of the company. These equity shares and rights to purchase equity shares represent approximately 4.5% of the equity of Spectramind eServices Private Ltd on a fully diluted basis. On completion of the transaction Wipro's aggregate interest in the company will be approximately 92% of all outstanding equity shares which represents 81% of the company on a fully diluted basis. Wipro's aggregate interest in Spectramind Ltd, a limited liability company and indirect parent of Spectramind eServices Private Ltd, is approximately 89% of the company on a fully diluted basis.
HCL Tech allots shares under ESOP
HCL Technologies Ltd has informed BSE that the employees stock options allotment committee of the Company has on September 02, 2002 allotted 30,978 shares of Rs 2/- each (at a premium of Rs 125.50 per share) to the employees on exercise of their stock options under the 1999 Employees Stock Option Plan.
GKN Driveshafts India announces change in management structure
GKN Driveshafts India Ltd has informed BSE that the following changes has been taken place in the Board of Directors of the Company:
Dr Walter Rohregger has resigned as member of Board of Directors w e f September 01, 2002
Engelbert Schwarz has resigned as member of Board of Directors w e f September 01, 2002
S Ravindran has ceased his contract as Managing Director of the Company w e f September 01, 2002. However he will continue to be member of the Board ie non-executive Director.
Mansoor Anwar has been appointed as Managing Director of the Company w e f September 01, 2002
KVLN Murty has been appointed as Whole-Time Director of the Company w e f September 01, 2002.
SRF Board approves buyback
SRF Ltd has informed BSE that the Board at its meeting held on September 2, 2002 have approved:
Buyback upto a maximum of 9.70 million equity shares which is approximately 15% of the fully paid up equity capital of the Company.
Buyback through tender offer
Buyback at a price of Rs 24 per equity share
The proposed buyback could absorb a maximum of Rs 232.80 million which is less than the 10% of the paid up capital and free reserves of the Company.
Continental Coffee reissues forfeited shares
Members of the Exchange are hereby informed that Continental Coffee Ltd has reissued 7,66,000 equity shares which were earlier forfeited by the Company due to non-payment of allotment/call monies.
Otis consortium makes open offer to acquire upto 19.38% equity capital of Otis India at a price of Rs 320 per share
DSP Merrill Lynch Ltd has informed BSE that Otis Mauritius Ltd ("Otis Mauritius" "Acquirer") a Company registered under the laws of Mauritius alongwith Otis Elevator Company (New Jersey) ("Otis NJ"), a Company registered under the laws of the State of New Jersey, USA, Otis Elevator Company (S) Pte. Ltd ("Otis Singapore"), a Company incorporated under the laws of Singapore and Otis Elevator Company (H.K.) Ltd ("Otis HK") a Company registered under the laws of Hong Kong as Persons acting in concert (collectively referred to as "Persons Acting in Concert"/ "PACs"), is making a voluntary offer to the public shareholders of Otis Elevator Company India Ltd ("Otis India"/ Target Company") to acquire upto 24,30,823 fully paid up equity shares of Rs 10 each representing 19.38% of the paid up equity share capital and being the balance outstanding equity share capital of Otis India at a price of Rs 320 per fully paid up equity share payable in cash. Besides the aforesaid, there are no other PACs in terms of Regulation 2(1) of the Regulations in relation to this offer.
Otis Mauritius, Otis NJ and Otis Singapore presently holds 14,70,655 (11.73%) shares, 56,44,800 (45.01%) shares and 29,95,810 (23.89%) shares respectively together aggregating to 10,111,265 shares representing 80.62% of the paid up equity share capital of Otis India. Otis HK does not hold any shares in Otis India, as on the date of this PA.
The offer is not conditional on any minimum level of acceptances.
The Specified Date is September 20, 2002.
The Date of opening of the Offer is October 18, 2002.
The offer will close on November 16, 2002.
Infosys announces Global Development Centre in Melbourne
Narayana N R Murthy, Chairman & Chief Mentor of Infosys Technologies on Monday announced the Company's expansion in Australia with the setting up of a global development centre in Melbourne. The Infosys Development Centre, the first for the region, is initially expected to create in excess of 100 jobs and will be integrated with other Infosys Development Cenres located in the US, Europe and India.
Announcing the centre, Murthy said "We are delighted to announce yet another Global Development Centre, this time in Australia. Today's announcement, part of a multi dimensional investment initiative by Infosys, is a significant milestone for the Company and symbolic of its continued commitment to the region and association with the Victoria State Government. The setting up of the centre will enable the import of best practices and the global experience of Infosys to the Australian market."
The Development Centre is expected to be operational in the next 8-12 weeks. Plans are underway to ramp up the resources to involve more people and to further develop the infrastructure.
The Centre will leverage Infosys' key strengths - technology, infrastructure, people and high quality processes to provide predictable and quicker time to market solutions through its low risk Global Delivery Model. The centre will also enable customers to deploy technology that aligns with its business imperatives and maintain a competitive edge. Infosys' Australian clients include Suncorp Metway, Vodafone and Telstra.
The announcement of the centre further strengthens future growth in Victoria's ICT industry, driven by the State's 10-year vision for the sector's development. It will also support Victoria's reputation of being the leading producer of technology graduates and having a heavy concentration of telecommunications and software R&D.
Glaxo SmithKline Consumer Healthcare to close packing station at Kolkatta
The Board of Directors of Glaxo SmithKline Consumer Healthcare Ltd at its meeting held on August 29, 2002 have resolved for closure of operation of the company's undertaking situated at Kolkatta where packing operations of the company is being carried out with effect from the close of working hours on August 31, 2002.
BSE revises Special Margin on 84 scrips
BSE has informed the members of the exchange that the following scrips will attract Special Margins as indicated hereunder with effect from Monday. 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 on the basis of memberwise gross purchase or sales position (clientwise net) as indicated below:
CODE NAME GROUP PER SHARE(PURCHASE)(%) PER SHARE (SALE)(%)
524665----------ADD LIFE PHARMA----------B2------------------------------ 25
530707---------- AFTEK INFOSYS---------- B1---------- 25
532311---------- AMEX INFORMATIO---------- B2 ---------- 25
532259---------- APAR INDUSTRIES---------- B2 ---------- 25
531541---------- AVON ORGANICS ---------- B2 ---------- 25
532161---------- BAFFIN ENGINEER---------- B2---------- 25
502355---------- BALKRISHNA INDS---------- B2 ---------- 25
500048---------- BHARAT EARTH MO ---------- B1 ---------- 25
532113 ---------- BRIJLAXMI LE ---------- B2---------- 25
523200---------- CLASSICS DIAM ---------- B2 ---------- 25
506390---------- COLOUR CHEM ---------- B1---------- 25
508814---------- COSMO FILMS ---------- B2 ---------- 25
532419---------- D LINK INDIA ---------- B1 ---------- 25
532365---------- DYNACON SYSTEM ---------- B2------------------------------ 25
509028---------- E SERVE IN---------- B1---------- 25
532417---------- E STAR INFOTECH---------- B2 ---------- 25
505200---------- EICHER MOTOR ---------- B1---------- 25
500128---------- ELECTROSTEEL CA ---------- B1 ---------- 25
500627---------- ESSAR STEEL---------- B1---------- 25
506156---------- ETC NETWORKS---------- B2---------- 25
511744---------- FCGL INDUSTRIES ---------- B2 ---------- 25
532326---------- FORTUNE INFO---------- B2---------- 25
500655---------- GARWARE POLY---------- B2---------- 25
506109---------- GENESYS INTER---------- B1---------- 25
503699---------- GEODESIC INF---------- B2---------- 25
532312---------- GEOMETRIC SOFT---------- B1 25
507732---------- GODAVARI FERT ---------- B2 ---------- 25
526729---------- GOLDIAM INT---------- B1 ---------- 25
530663 ---------- GOYAL ASSOCIATE---------- B2---------- 25
500185---------- HIND CONSTRUC---------- B1 ---------- 25
524652---------- IND SWIFT ---------- B1 ---------- 25
500207---------- INDO RAMA SYN ---------- B1---------- 25
532010---------- INDOTECH CAPITA---------- B2---------- 25
532175---------- INFOTECH ENT---------- B1---------- 25
512447---------- INNOVISION E CO---------- B2---------- 25
524494---------- IPCA LABORATOR---------- B1 25
507480---------- ISHWAR MEDICAL---------- B2---------- 25
531816---------- IT MICROSYSTEM ---------- B2 ---------- 25
530773---------- IVRCL INFRA---------- B1 ---------- 25
506943---------- J B CHEMICALS---------- B1---------- 25
500107---------- JINDAL IRON---------- B1---------- 25
532256---------- JINDAL STRIPS---------- B1 ---------- 25
532275 ---------- LANDMARC LEISUR---------- B1---------- 25
500266---------- MAH. SCOOTER---------- B1---------- 50
500265---------- MAHARASHTA SEAM---------- B1---------- 50
502157---------- MANGALAM CEMENT---------- B2---------- 25
532337---------- MASCOT SYSTEM ---------- B1---------- 25
524794---------- MATRIX LABS---------- B2 ---------- 25
512267---------- MEDIA MATRIX---------- B2---------- 25
531417---------- MEGA CORPORATIO---------- B2------------------------------ 25
524101---------- NALCO CHEMICAL---------- B1---------- 25
504112---------- NELCO---------- B1---------- 25
531209---------- NUCLEUS SOFTWAR---------- B1---------- 25
520021---------- OMAX AUTOS---------- B1 ---------- 25
532091---------- ORBIT MULTI---------- B2 ---------- 50
532350---------- PADMALAYA TELE---------- B1---------- 25
531492---------- PENTA COMMUN---------- B1------------------------------ 25
524051---------- POLYPLEX---------- B2---------- 25
522205---------- PRAJ INDUSTRIES---------- B2---------- 25
506618---------- PUNJAB CHEMICAL---------- B2---------- 25
500346---------- PUNJAB COMM---------- B1---------- 25
500355---------- RALLIS INDIA---------- B1---------- 25
524230---------- RASHTRIYA CHEM---------- B1---------- 25
513583---------- S B & T---------- B1---------- 25
500370---------- SALORA INTER---------- B1---------- 25
514234 ---------- SANGAM INDIA---------- B2---------- 25
511218---------- SHRIRAM TRANS---------- B2 ---------- 25
523083---------- SOMPLET---------- B2---------- 25
512531---------- STATE TRADING---------- B1---------- 25
512640---------- STOCK NET INTER---------- B1------------------------------ 25
532348---------- SUBEX SYSTEM---------- B1---------- 25
504290---------- TATA INFOTEC---------- B1 ---------- 25
500463---------- TATA TELECOM ---------- B1---------- 25
531554---------- TOP TELEMEDIA---------- B2 ------------------------------ 25
531659---------- TRANSNAT SEC---------- B2---------- 25
500423---------- TVS ELECTRONICS---------- B1---------- 25
500464---------- UCAL FUEL SYST---------- B1---------- 25
531790---------- UNIVERSAL MEDIA---------- B2------------------------------ 25
532156---------- VAIBHAV GEMS---------- B1---------- 25
524802 ---------- VERONICA LABS---------- B2---------- 25
532214 VISUAL SOFTWARE---------- B1---------- 25
511246 WHITE LION ASIA---------- B2 ---------- 25------------------------------ 25
504067 ZENSTAR TECHNOL ---------- B1---------- 25
526498 ZYNERGY ---------- B2---------- 25
