Cadila Healthcare acquires 37,595 equity shares of German Remedies through open market

Cadila Healthcare Ltd has informed BSE that today pursuant to the open offer made by Recon to the shareholders of GRL, Cadila has today (August 2, 2001) acquired 37,595 equity shares of German Remedies Ltd representing 0.4559% of the paid up capital through open market purchases as permitted under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulation 1997. The maximum price paid for shares acquired through open market purchases was Rs 474.43 per share.

SITPL makes open offer for acquisition of 20% equity of Noble Explochem

Salvia Investments & Traders Pvt Ltd (SITPL) have agreed to acquire from SICOM an aggregate of 52,50,000 fully paid up equity shares of face value of Rs 10/- each in Noble Explochem Ltd which represents 35.65% of the subscribed, issued and paid-up equity share capital of Noble. Under the acquisition Agreement SITPL has agreed to pay a price of Rs 21.11 payable in cash/cheque for acqusition of shares to Sicom. SITPL along with Mr. Sameer M. Chandurkar, Mr. Madhukar R. Chandurkar, Mrs Usha M. Chandurkar, Mr. T.C. Kothari, Mr Ramesh Kothari, Chandurkar Investment Pvt Ltd and associates is making an Offer to acquire 29,45,620 equity shares of Rs 10 each representing 20% of the outstanding equity share capital of Noble Explochem Ltd at a price of Rs 21.11 per fully paid up (Rs 10.00 paid up) equity share and Rs 15.83 per partly paid up (Rs 7.50 paid up) share payable in cash subject to what is stated hereafter. The Offer is not conditional on any minimum level of acceptances. The offer opens on October 01, 2001. The Offer will close on October 30, 2001. The Specified Date of the Offer is August 6, 2001.

Kesoram suspends work at Rayon Section

Kesoram Industries Ltd has informed BSE that in view of the gross act of violations of the substituting settlement and indulgence in wasteful practices with deliberate and unreasonable striking of work and thereby disturbing the entire operations by the workmen in Kesoram Rayon & Transparent Section situated at Tribeni, the company has declared suspension of work from 6 AM on August 2, 2001.

Other income helps Jaiprakash Ind post a growth of 84.81% in Q1 net profits

Jaiprakash Industries Ltd has posted a net profit of Rs 394.20 million for the quarter ended June 30, 2001 as compared to Rs 213.30 million for the corresponding period last fiscal. Net Sales have decreased from Rs 3998.50 million in JQ 2000 to Rs 3384.80 million in the quarter ended June 30, 2001. Other income has increased from Rs 82.90 million in JQ 2000 to Rs 259.20 million in the quarter ended June 30, 2001. The results for the quarter ended June 30, 2001 do not include the working results of the cement division which was hived off to the wholly owned subsidiary of the Company, Jaypee Rewa Cement Limited with effect from April 1, 2001 pursuant to the Scheme of arrangement sanctioned by the Honorable high court of Judicature at Allahabad vide Orders dated February 27, 2001 against slump sale consideration of Rs 180 million.

Dr Reddy's -Novartis deal gets US regulatory clearance, triggers an upfront payment of US $5 mn to Dr Reddy's

Dr Reddy's announced today (August 02, 2001) that the Licensing Agreement with Novartis Pharma AG has received US regulatory clearance and has become effective from July 30, 2001. This event has triggered an upfront payment of 5 million US dollars from Novartis. The same will be reflected in the second quarter (FY-02) results of Dr Reddy's Laboratories Ltd. Dr Reddy's has granted Novartis worldwide exclusive rights for development and commercialization of its insulin sensitizer DRF 4158 in type 2 diabetes, in return for up to 55 million US dollars in upfront and milestone payments for specific clinical and regulatory endpoints, as well as royalties. Dr Reddy's has retained co-promotion rights for DRF 4158 in India.

South India Corporation to hive off Sugar, Aquaculture units

The Board of Directors of South India Corporation Agencies Ltd at their meeting held on July 30, 2001 have proposed to hive off the following units subject to various approvals: Sugar unit situated at Mundiyampakkam near Villupuram Distillery & Furfural units situated at Vazhudhareddy near Villupuram and Aquaculture unit situated at Pattinamardur, near Tuticorin and Chinnamedu near Mayavaram Tamil Nadu. The modus operandi for disposal of the above units and other formalities are being finalised.

Wockhardt doubles its Vitamin B12 capacity to 3500 kgs

The pharmaceutical major Wockhardt Ltd has made a strategic move in more than doubling its Vitamin B12 manufacturing capacity to make significant inroads into the global market. Wockhardt ranks amongst the world's Top-3 producers of this vitamin. Wockhardt is the only company in South Asia and Pacific region to manufacture Vitamin B12. Wockhardt's product meets all global standards, including US Pharmacopoeia. Since the year 1998, Wockhardt has consistently focussed on upgrading its Vitamin B12 production and capacity. Explaining Wockhardt's strategies on advancing global leadership in Vitamin B12, Chairman Mr. Habil F Khorakiwala said, " Since 1998 Wockhardt has increased its capacity five fold. In 2000, we increased the capacity from 700 kgs to 1700 kgs. This year, the capacity has now more than doubled to 3500 kgs. The usage of Vitamin B12, the world over is quite consistent in the field of nutraceuticals. Vitamin B12 is necessary for the formation of red blood cells, maintenance of a healthy nervous system, and helps growth and development in children. Moreover, Vitamin B12 helps in the synthesis of DNA- the genetic material in all cells.

Moser Baer secures Euro 97 million long-term export credit from leading European Banks

Moser Baer India Ltd. announced today (August 2, 2001) that it had secured long-term export credit of Euro 97 million (Equivalent to US $ 84 million) from a syndicate of European investment banks led by the Munich based Bayerische Hypo-und VereinsBank AG), the third largest bank in Europe. And, in one of the largest transactions of its kind for an Indian non-infrastructure private sector company, this long-term credit has been guaranteed by leading European Export Credit insurer Hermes Kreditversicherungs AG, acting on behalf of the Government of Germany. The final agreement between the company and the lenders syndicate was signed today by Moser Baer Managing Director Deepak Puri and Gerdpeter von Guretzky-Cornitz. Hypo VereinsBank's Senior Vice President, Global Trade Division. These long-term funds have been made available by Hypo VereinsBank and its associate lenders at extremely fine international rates that will substantially lower borrowing costs for MBIL as its seeks to double its capacity during the financial year. Other members of the banking syndicate are ANZ Banking Group Ltd., Frankfurt, & Standard Chartered Bank, London, who have nominated Hypo VereinsBank to act on their behalf. With this borrowing, Moser Baer has attained full financial closure for the US $ 233 million expansion of its state-of-the-art optical media production facilities to 760 million units per annum. The capacity expansion, slated to be complete by March 2002, shall see Moser Baer become the third largest optical media manufacturer in the world.

Gufic BioSciences enters into MOU with Intra Pharma

Gufic BioSciences Ltd has informed BSE that the company has entered into MOU with Intra Pharmaceuticals, UK to cater to the increasing popularity of food supplements (nutraceuticals) in Europe. The two products Ispaghula Husk and Senna Tablets for which company has entered into MOU caters to the laxative segment.

Medicorp Technologies appoints Additional Director

Medicorp Technologies India Ltd has informed BSE that TCW/ICICI Ind Private Equity Fund, LLC have nominated Mr Sumit Chandwani of ICICI Venture Funds Management Company Ltd to the Board of our company. Further, Mr Sumit Chandwani was inducted as Additional Director by the Boasrd at their meeting held on July 24, 2001.

Madras Cements Q1 net at Rs 251.70 million

Madras Cements Ltd has posted a net profit of Rs 251.70 million for the quarter ended June 30, 2001 as compared to Rs 44.50 million in the corresponding period last fiscal. Total Income has increased from Rs 1450.10 million in JQ 2000 to Rs 2091.50 million in the quarter ended June 30, 2001.

Tata Advanced Materials appoints Additional Director

Tata Advanced Materials Ltd has informed BSE that Mr Sujit Gupta has been appointed as Additional Director of the company with effect from July 26, 2001.

SSI Education opens 100 centers in North India

SSI Education, leaders in high end IT education and pioneers of emerging technology short term courses, has announced the opening of 100 centers in Northern India with the launch of its center in Dilshad Garden, Delhi. "This truly establishes us as a national player offering quality IT training to students across India," says B G Menon, CEO SSI Education. SSI Education currently operates over 600 centers across India. The Chennai based company opened its first center in the North in 1998 in Delhi, and within two years has now opened centers in Delhi, Haryana, Punjab, Jammu & Kashmir, Rajasthan and UP. In Delhi alone, SSI Education has over 30 centers. SSI Education has a network of over 600 operational centers in India and has trained over 180,000 students in nine months ended March 31 in FY01 (the Company's financial year runs from July-June). Earlier this month, SSI Education announced their franchisee led growth model to expand the training network rapidly both within India and overseas. As part of its aggressive international expansion plans, SSI Education recently opened centers in Dhaka, Bahrain, and Jakarta. SSI Education presently has over 18 centers spread over South Asia, Middle East and Africa. North India currently contributes about 18% of SSI Education revenues. The company plans to establish 50 centers with in the next few months in this region and will adopt the franchisee route for expansion. Along with the expansion in the network, SSI Education has also put in place a rigorous quality system to ensure homogeneity of content and delivery. The SSI School of Technology and Management which has operations in North and South India, runs rigorous train-the-trainer programs as well as induction and refresher modules, apart from training on new products as and when they are introduced.

SSI prepays all Institutional Loans

As part of a move towards a debt free balance sheet, SSI Ltd Chennai based IT training and development major has foreclosed Rs 703 million of secured loans. The Rs 703 million secured loans includes Rs 450 million loan from IDBI taken in March 2001 and Rs 198 million remaining out of a loan of Rs 240 million from IDBI availed between November 1999 and March 2001. It also includes Rs 55 million remaining out of a loan of Rs 73.80 million from ICICI. There are no foreclosure charges for the Rs 450-million loan repayment. The Company is negotiating with IDBI for waiving foreclosure charges of Rs 432.50 million on the Rs 198-million loan repayment. The foreclosure charge for the Rs 55million loan repayment to ICICI is Rs 2.024 million. "The Rs 450 million IDBI loan was availed in the January-March 2001 quarter for capex requirements as cash at that time was held up in debt funds that were yielding attractive returns," says R.Rangarajan, CFRO, SSI Ltd. "Our stated intent has been to repay the loan once the interest rate differential between the returns and the loan interest disappears. The other loans were taken for normal operational requirements or were inherited from out acquisitions."

Eonour Software members approve stock split

Eonour Software Ltd has informed BSE that at the E.G.M. of the company held on July 30, 2001 the following business were transacted Splitting of shares of Rs.10/- each fully paid up into 5 shares of Rs.2/- each fully paid up. Increasing the authorised share capital of the company from Rs.150 million to Rs. 200 million . Issue/allotment of shares on preferential basis. Changing the name of the company to 'Eonour Technologies Ltd. Alteration of the article empowering the board to issue bonus shares.

Trigyn Technologies announces change in composition of Board of Directors

Trigyn Technologies Ltd has informed BSE that Mr Anil Ahuja, non-executive Director being the nominee/representative (non-executive) of The India Private Equity Fund submitted his resignation with immediate effect, which the Board has accepted. Due to this resignation, the composition of the Board stands modified and comprises of the following Directors. 1. Mr S Y Rege- Chairman & Non-Executive Director 2. Mr Atul Kamath - Wholetime Director 3. Mr Ramchandra Bhagwat - Wholetime Director 4. Mr Tushar Vaidya- Wholetime Director

KEI Industries to allot shares on preferential basis

KEI Industries Ltd has informed BSE that the Board of Directors of the company has decided to offer, issue and allot on preferential basis 30,76,000 equity shares of the company for cash at a price of Rs.13/- per share (including premium of Rs.3/- per share) as per SEBI Guidelines.

La-Mere Apparels to allot equity shares on preferential basis

La-Mere Apparels Ltd has informed BSE that the shareholders of the company has authorised the Board of Directors of the company to issue and allot upto 1,50,00,000 equity shares of Rs.10/- each on preferential basis to the shareholders of Sanblue Enterprises Pvt.Ltd (SEPL) owner of the Portal 'fiber2fashion.com' in consideration of their 100% holding in SEPL for consideration other than cash and price will be decided as per SEBI Guidelines.

Supreme Woollen Mills allots equity shares on preferential basis

Supreme Woollen Mills Ltd has informed BSE that the Board of Directors of the company has allotted equity shares of Rs.35 million on preferential basis to the promoters. Further, Board has decided to change the name of the company to Supreme Yarns Ltd., subject to necessary approvals.

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