Silverline Technologies Board to seek shareholders approval for offering GDR/ADR

Silverline Technologies Ltd has informed BSE that the Board of Directors of the Company have inter alia, decided to seek the approval of the shareholders at an EGM for an International offering of equity linked securities like Global Depository receipts (GDRs)/ American Depository Receipts (ADRs) etc. to raise an amount upto USD 35 million in one or more tranches as per the future needs of the Company for cash consideration or stockswap.

GAIL embarks on synergetic strategy with business partners

Gas Authority of India Ltd has initiated interactive partnership dialogue with its business partners like suppliers, contractors and consultants in New Delhi. In an overwhelming response a large number of business partners of GAIL turned up at the meet. The list included clients like L&T, Eil, Tcil, Jindal, Mecon, Secon, Pdil, Global Thermoelectric Inc- Canada, Rolls-Royce Energy Solution- UK Solar Turbine-US, GE Power, WRI- China, Storytransgaz- Russia Phoceenne- France, Compressor Control- Singapore to name a few. Speaking on the occasion Mr P Banerjee CMD Gail, said " in fact the day marks the beginning of the transformation from our vendor- client relationship to a business partner relationship".

Silverline Board approves expansion programme

Silverline Technologies Ltd has informed BSE that the Board at its meeting today (June 20, 2002) considered and approved an expansion program to address emerging opportunities in the areas of IT Software Solutions and Information Technology enabled services. New initiatives in the areas of Business Process Outsourcing (BPO) Enterprise Solutions among others are planned in the immediate future through Business Combinations, Joint Ventures, strategic alliances etc with established players in the international arena.

USA's No.1 Automobile E-Dealer goes live with Logix's Izmocars product

Logix Microsystems Ltd the CRM Company announced that Anderson Honda, USA's No. 1 Automobile E-Dealer has gone live with the new Logix product Izmocars. The Izmocars product range was launched at the NADA (National Automobile Dealer Association) Show held in February 2002 in New Orleans. The Company has received an overwhelming response to their product offering especially the flagship product Izmoflix. The Izmocars product range caters to the requirements of the US automobile industry which had sales of more than USD 650 billion last year. Anderson Honda located in Palo Alto, California is the No.1 E-Dealer of cars in the United States selling more than 200 cars over the Internet every month. Anderson Honda has also won the Dealer Innovation Award from USA Today for being the most innovative dealer and being the dealer to "use" the most innovative technology. The total value of cars sold by Anderson Honda over the Internet exceeded US Dollar 45.20 million in the last fiscal.

M S Khan appointed as Compliance Officer of Infotech Enterprises

Infotech Enterprises Ltd has informed BSE that M S Khan Company Secretary has been appointed as the Compliance Officer.

R G N Swamy resigns from Directorship of Asian Hotels

Asian Hotels Ltd has informed BSE that Mr R G N Swamy Director has resigned w e f May 29, 2002.

STG ranked among top three Institutes

Software Technology Group International Ltd has informed BSE that as per survey conducted by Dataquest, a prominent IT magazine, STG is amongst the top 3 preferred institutes for recruitment after NIIT and Aptech as far as the enterprise and industry are concerned. Further for corporate training STG has been ranked as the No 3 'Most preferred vendor' both by Industry and Enterprise. This survey was conducted on a sample size of 68 enterprise Companies spanning different verticals such as manufacturing, services, pharmaceuticals and energy and 48 IT Companies (Industry) like HCL Infosystems, WIPRO, IBM, HP etc.

Trent Q4 net at Rs 28.10 million, FY-02 net profit at Rs 102.20 million

Trent Ltd has posted a net profit of Rs 28.10 million for the quarter ended March 31, 2002 as compared to a net loss of Rs 4.80 million in the quarter ended March 31, 2001. Total Income has increased from Rs 188.38 million in the quarter ended March 31, 2001 to Rs 244.30 million in the quarter ended March 31, 2002. The company has posted a net profit of Rs 102.20 million for the year ended March 31, 2002 as compared to Rs 101.67 million in the year ended March 31, 2001. Total Income has increased from Rs 661.32 million in the year ended March 31, 2001 to Rs 906 million in FY-02.

GlaxoSmithKline Consumer Healthcare Q2 results on July 30, 2002

GlaxoSmithKline Consumer Healthcare Ltd has informed BSE that the meeting of the Board of Directors will be held on July 30, 2002 to consider and take on record the unaudited financial results for the second quarter ending on June 30, 2002 and to consider the payment of an Interim Dividend for the year ending December 31, 2002.

Bank of Baroda fixes record date for payment of dividend

Bank of Baroda has fixed August 03, 2002 as the date on which the dividend will be payable so as to reach the holders of shares on or before August 03, 2002. The AGM of the bank will be held on July 12, 2002 wherein the dividend is proposed to be declared.

Shamken Spinners Board to consider allotment of equity shares on preferential basis

Shamken Spinners Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 29, 2002 to consider the following: Proposed allotment of equity shares on preferential basis. Proposed allotment of equity shares with differential rights as to dividend or otherwise on preferential basis. Proposed allotment of equity shares with differential rights as to voting or otherwise on preferential basis.

Pfizer responds to Dr Reddy's Paragraph IV certification for Amlodipine Maleate

Dr Reddy's Laboratories today (June 20, 2002) announced that the Company had filed Paragraph IV certifications on the two Orange Book patents listed for Pfizer's Norvasc® (Amlodipine Besylate) product. The Company had earlier filed a New Drug Application NDA) for Amlodipine Maleate under Section 505 (b) (2) of the Federal Food, Drug and Cosmetic Act. On June 17, 2002 Pfizer notified Dr Reddy's that it had filed a suit in the Federal Court in New Jersey on one of the two Orange Book patents, the '909 patent. Pfizer did not file a suit on the second patent. Amlodipine Besylate is the generic version of Pfizer's Norvasc®. It is indicated for the treatment of hypertension and angina. The product had brand sales of approximately US $2.5 billion in the US in the year 2001.

Colgate Palmolive Q4 net up by 11.91%, FY-02 net up by 11.68%

Colgate Palmolive India Ltd has posted a net profit of Rs 216 million for the quarter ended March 31, 2002 as compared to Rs 193 million in the quarter ended March 31, 2001. Total Income has decreased from Rs 3051 million in MQ-2001 to Rs 2772 million in the quarter ended March 31, 2002. The company has posted a net profit of Rs 698 million for the financial year ended March 31, 2002 as compared to Rs 625 million in the year ended March 31, 2001. Total Income has decreased from Rs 12064 million in FY-2001 to Rs 11918 million in the year ended March 31, 2002. The company continues to invest in brand equity building with strong marketing and sales support initiatives with an 8% increase in advertising expenditure. This strategy has resulted in a dramatic improvement of 3 percentage points in the value market shares of Toothpastes from 46.50% in Dec 2001 to 49.60% in April 2002.

D-Link India Q4 net up by 4.04%, FY-02 net down by 3.07%

D-Link India Ltd has posted a net profit of Rs 59.21 million in quarter ended March 31, 2002 as compared to Rs 56.90 million in MQ-01.The total income has increased from Rs 431.16 million in MQ-01 to Rs 505.29 million in MQ-02. The Company has posted a net profit of Rs 182.12 million in financial year ended March 31, 2002 as compared to Rs 187.89 million in FY-01. The total income has increased from Rs 1539.24 million in FY-01 to Rs 1641.95 million in FY-02. The Board of Directors has recommended a dividend of 50% ie Re 1 per share.

SBI Q4 net up by 80.26%, FY-02 net up by 51.57%

State Bank of India has posted a net profit of Rs 6156.90 million in quarter ended March 31, 2002 as compared to Rs 3415.50 million in MQ-01.The total income has increased from Rs 89348.80 million in MQ-01 to Rs 90400.90 million in MQ-02. The Bank has posted a net profit of Rs 24316.20 million in financial year ended March 31, 2002 as compared to Rs 16042.50 million in FY-01. The total income has increased from Rs 300216.30 million in FY-01 to Rs 339845.70 million in FY-02. The Central Board have declared a dividend of Rs 6.00 per share for the year ended March 31, 2002 subject to necessary approval from RBI as it exceeds 25%.

Vysya Bank Board approves Bank Brussels Lambert's proposal to increase its stake in equity of the Bank

Vysya Bank Ltd has informed BSE that the Board at its meeting held expressed the support for the below mentioned transaction as it is in the best interests of the Bank and all its stakeholders. The Bank further states that shareholders have informed the Bank regarding the conclusion and outcome of their negotiations .The shareholders informed that the acquisition of shares is subject to obtention of required Government approvals, including that of the Foreign Investment Promotion Board, the RBI and the Insurance Regulatory Development Authority. Earlier the Bank had informed BSE that Bank Brussels Lambert (ING Group) has approached the Bank to increase their stake in the equity of Vysya Bank subject to Reserve Bank of India approval and also acquire Management Control from the Management Group (M/s G M Rao, other Directors, their friends, relatives and Associates).

Oriental Bank of Commerce to elect 4 Directors

Oriental Bank of Commerce has informed BSE that the Board of Directors of the Bank have decided to convene an EGM on August 16, 2002 to conduct the election for 4 Directors amongst its shareholders. The date for the purpose of participation in election will be July 20, 2002.

Interfit Techno Products Board to consider allotment of shares to Interfit India

Interfit Techno Products Ltd has informed BSE that at their meeting to be held on June 29, 2002 the Board of Directors of the Company will be considering the proposal for allotment of 32,50,000 equity shares of Rs 10 each at par to M/s Interfit India Ltd on preferential basis.

Cholamandalam Invt & Fin Co to seek shareholders approval for issue of redeemable preference shares

Cholamandalam Investment & Finance Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held today (June 20, 2002) has considered issue of redeemable preference shares. Further to this the Board has decided to recommend for the approval of the general body at its meeting scheduled to be held on July 31, 2002 an issue of 3.50 million redeemable preference shares of Rs 100/- each for cash at par aggregating to Rs 350 million. The issue will be on private placement basis to such persons/ institutions/banks/bodies corporate/mutual funds/individuals or other agencies whether incorporated or not and on such terms and conditions as may be determined and deemed fit by the Board of Directors.

Wellwin Board allots shares to shareholders of Alcaast India

The shareholders of Wellwin Industry Ltd at the Extra-Ordinary General Meeting held on May 30, 2002 had confirmed the action of the Board in acquiring Alcaast India Ltd issuing 70,00,000 equity shares under SWAP arrangement and cash. However the shareholders have revised the offer price of our share at Rs 29 instead of Rs 25 as earlier decided/stated by the Board of Directors. As per the approval accorded by the shareholders of the company the acquisition of Alcaast India Ltd will be by way of share swap wherein the company will issue 2 equity shares for every 5 equity shares held by shareholders of Alcaast India Ltd besides collecting cash of Rs 4 per share aggregating to Rs 2,80,00,000 (70,00,000 equity shares allotted to the shareholders of Alcaast India Ltd Rs 4 per share) Therefore, the Board of Directors at their meeting held on June 19, 2002 based on the authorization accorded by the shareholders of the company at the EGM, have confirmed the allotment of 70,00,000 equity shares of Rs 10 each at a premium of Rs 19 per share directly to the shareholders of Alcaast India Ltd for acquiring total shares of Alcaast India Ltd.

Finolex Cables fixes Book Closure for dividend

Finolex Cables Ltd has fixed the Book Closure from July 23, 2002 to July 31, 2002 (both days inclusive) for the purpose of dividend for the year ended March 31, 2002 and for the AGM of the company to be held on July 31, 2002.

M&M redefines the Sports Utility Vehicle segment with the Scorpio

Mahindra & Mahindra Ltd, India's market leader in utility vehicles, today (June 20, 2002) unveiled its indigenously engineered world-class Sports Utility vehicle - Scorpio. The new generation SUV aptly bridges the gap between style and adventure, luxury & ruggedness and performance & economy. Presenting the Scorpio to the nation Mr Anand Mahindra, Vice Chairman & Managing Director, Mahindra & Mahindra said, "We are extremely proud of the Scorpio and are sure that it would make both customers and car makers think seriously about the Sports Utility Vehicle segment. We at M&M have anticipated the potential of the SUV segment and believe that the strong value proposition the Scorpio offers would make it a winner." Showcased in both Diesel and Petrol versions, the Scorpio has been conceptualized and designed by Mahindra & Mahindra's in house Integrated Design and Manufacturing (IDAM) Team, incorporating the most contemporary styling, design and technology. The Scorpio will sport Red, Blue, Silver, Black and Green colours and will be available in M&M showrooms across major cities. Delivery of the vehicle would commence from June 24, 2002. The price of the vehicle ex-New Mumbai Euro I for the Diesel Turbo 2.6 & Turbo 2.6 DX versions will be Rs 0.55 million and Rs 0.61 million respectively. The price ex-New Delhi Bharat Stage II for Diesel Turbo 2.6 & Turbo 2.6 DX versions would be Rs 0.582 million and Rs 0.635 million respectively, with the petrol version priced at Rs 0.719 million. M&M will also launch a new Scorpio variant with a naturally aspirated engine at an ex-New Mumbai price of around Rs 0.52 million within a few months. In keeping with M&M's desire to deliver a truly world class SUV, the Scorpio has some of the best-in-class international vendors involved with the project. Exemplifying this is the Nashik plant, which has a press shop by Fukui and dies from Fuji, Japan. Some of the other world class vendors are Lear and Visteon, Bridgestone, Borgwarner, Meritor etc., all ensuring that M&M's Scorpio has integrated the very latest in international design trends and technology.

Escorts FY-02 results on June 29, 2002

A meeting of the Board of Directors of Escorts Ltd is scheduled to be held on June 29, 2002 to approve and take on record Audited Financial Results for the financial year ended March 31, 2002 and also consider to recommend dividend for the same year.

Ranbaxy Laboratories clarifies on news item

With reference to the news article appearing in a leading financial daily titled "Ranbaxy licenses drug to Schwarz for $50m" Ranbaxy Laboratories Ltd has informed BSE that while it is true that the Company has been in negotiations (including with Schwarz Pharma, AG, Germany) for a licensing deal in respect of its New Chemical Entity (BPH molecule code named RBX 2258), but as of now, a deal is yet to be concluded in this regard.

BSE imposes Special Margin on 4 scrips

BSE has informed the members of the exchange that Special Margin in the under mentioned scrip has been imposed as mentioned alongside with effect from today (June 20, 2002). Special margin will be imposed on the basis of memberwise gross outstanding purchase or sale position ( Clientwise net ) as indicated below: Code Name Group Sp.Mrg PerShare (%)(Purchases) 522275 ALSTOM LTD B1 25 503940 ASIAN ELECTRONICS LTD B1 25 532421 IQ INFOTECH LTD B2 25 500235 KALYANI STEELS LTD B2 25

IDBI Bank grants stock options

IDBI Bank Ltd has informed BSE that pursuant to approval by the Remuneration Committee, 4 million stock options have been granted on June 19, 2002. The options are convertible into 4 million equity shares of Rs 10/- each. The vesting of options will be 40% in 1st year, 30% in 2nd year and 30% in 3rd year from the Grant date. The Grant date of these options is April 1, 2002 and the exercise price for these options is Rs 19.90 per option.

Exide Industries Q1 results on July 05, 2002

Exide Industries Ltd has informed BSE that the meeting of the Board of Directors of the Company will be held on July 05, 2002 to consider the unaudited financial results (provisional) and the Segment wise Revenue, Results and Capital employed for the quarter ended June 30, 2002.

HLL clarifies on news item

With reference to the news article appearing in a leading financial daily titled "Unilever units, HLL in tea bag supply accord" Hindustan Lever Ltd. has informed BSE that HLL has a substantial exports business of more than Rs 15000 million of which Tea Exports accounts for approx. 1/3rd of the exports turnover. In any on going business the Company would have from time to time, new customers evincing business interest and some of the old customers going off the business depending upon various factors including tariff protection measures initiated by the local govt. The Company has further informed that in the course of getting into value added tea exports, the company is indeed exploring tea bag manufacturing and sourcing for developed economies like US and Australia where it expects to gain long term sustainable advantage. The value of the orders received or expected in the immediate future, is however not significant or substantial in the context of the overall export operations of the Company.

Saregama India FY-02 results on June 27, 2002

Saregama India Ltd has informed BSE that a meeting of the Board of Directors of the company is scheduled to be held on June 27, 2002 to approve draft annual accounts for 2001-2002 and to consider the question of recommendation of dividend if any.

Infosys Banking Group announces a strategic acquisition

The Banking Business Unit of Infosys Technologies Ltd today (June 20, 2002) announced that it has acquired the Trade IQ product division of US based IQ Financial Systems Inc. The acquisition brings to the Infosys Banking Group's fold the existing Trade IQ clients of IQ Financial Systems Inc, which include some of the top tier and largest commercial and investment Banks of Europe, Japan and US with installations in Switzerland, UK, US and Japan. According to the terms of the agreement, the Infosys Banking Group will acquire, in addition to the product, all assets and trained and skilled manpower, which includes Trade IQ domain experts. With this acquisition, Infosys' Banking Group will have ready-to-operate offices with employees in London and Tokyo. The suite of products acquired from IQ Financial Systems Inc include, Trade IQ™ - an Integrated Treasury System, Limits IQ™ - Limits Management System and Desktop Risk IQ™. Trade IQ™ is an integrated front, middle and back office system that provides full straight-through processing (STP) and covers a full breadth of money market, foreign exchange fixed income and their full range of derivatives. The products are based on new generation technologies (OO design, ORB based 3-tier architecture) and open systems and offer a very high level of interoperability, extensibility and scalability. These products will be marketed and sold as modules or in a consolidated manner under the brand name, Finacle- Treasury. The Rs 1030 million (US$ 21.80 million), rapidly growing, Banking division of Infosys offers banking software products to Retail and Corporate Banking Operations across the globe. This acquisition will provide Infosys the strategic advantage of being able to target the Wholesale & Investment Banking segment as well as, and offer all banks a rich and superior Treasury System. Addressing the media at a Press Conference in the city, Girish Vaidya, Head - Banking Business Unit, Infosys Technologies said, "This acquisition has helped us to emerge as an end to end player in the banking software market with state of the art offerings to Retail, Corporate and Wholesale Banks, The acquisition of this advanced Treasury product brings to us the key competitive advantage of faster time to market in a highly competitive landscape. Furthermore we will be benefited by the addition of personnel who would add tremendous value with their relevant domain expertise."

Noble Explochem -- Minister of Commerce & Ind to phase out production of NG based explosives

Noble Explochem Ltd has informed BSE that a letter has been received from the Department of Explosives, Nagpur intimating the Company that the Department of Industrial Policy & Promotion, Minister of Commerce and Industry has decided to phase out the production of NG based explosives over a period of 5 years in phased manner.