Foreign Collaborator acquires 5.76% stake in Continental Coffee

Continental Coffee Ltd has informed BSE that Mr Ian Breminer, Foreign Collaborator has acquired 7,66,557 shares of the company from another Foreign Collaborator M/s Brazilian Food Product which constitutes 5.762% of the paid up share capital of the company. The aforesaid disclosure is made under regulation 7 of SEBI (Substantial Acquisition of Shares and Takeovers) rules 1997.

Sterlite Optical buyback at a maximum price of Rs 250 per share

At the meeting of the Board of Directors of Sterlite Optical Technologies Ltd held today (August 3, 2001) it was resolved that in accordance with the provisions of Section 77A, 77AA and 77B of the Companies Act 1956 (the act) and the provisions of the Securities and Exchange Board of India (Buy-back of Securities) regulations 1998, (the regulations) to purchase the fully paid up equity shares of Rs 5 each of the company for an aggregate amount not exceeding Rs 800 million and up to a maximum price not exceeding Rs 250 per equity share, in one or more tranches, and in any of the modes prescribed under the Act and/or regulations. The Resolution of the Board is however subject to the approval of the shareholders of the company at the ensuing Annual General Meeting.

Cadila Healthcare acquires 17015 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 3, 2001) acquired 17015 equity shares of German Remedies Ltd representing 0.2063% 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 481.69 per share.

Corporation Bank Shareholders approve preferential allotment of shares to LIC

Corporation Bank has informed BSE that the proposal for issuance of 24 million equity shares of Rs 10 each for cash at a premium of Rs 186 (issue price- Rs 196 per share) to Life Insurance Corporation of India on preferential basis has been approved unanimously by the shareholders of the bank at the AGM held today (August 3, 2001).

Aptech appoints Additional Director

Aptech Ltd has informed BSE that Mr Rusi Brij has been appointed as an Additional Director on the Board of the Company with effect from July 30, 2001.

Eastern Resin & Allied holding in Gesco Corp at 7.27%

Gesco Corporation Ltd has informed BSE that Eastern Resin & Allied Products Ltd (Sikkim) has acquired 17,75,185 shares representing 6.17% of the shares/voting rights of the company. This together with their existing holding of 3,15,335 shares representing 1.10% brings the total shareholding of Eastern Resin & Allied Products Ltd in the company to 20,90,520 shares representing 7.274% of the shares/voting rights of the company. The aforesaid disclosure is being furnished as required under Regulation 7(3) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations 1997.

Jaipan Industries to consider Bonus Issue

A meeting of the Board of Directors of Jaipan Industries Ltd is scheduled to be held on August 14, 2001 for consideration of Issue of Bonus Shares.

Craig Barrett CEO, Intel inaugurates Infosys-Intel e-Business Solutions Lab

Craig Barrett, President & Chief Executive Officer, Intel Corporation today (August 3, 2001) inaugurated the Infosys-Intel e-Business Solutions Lab at Infosys City, Bangalore. The Infosys-Intel Lab is the first e-business solutions lab of its kind and will focus on building practices on Intel architecture platform for the enterprise customers. The Lab is being anchored by Software Engineering and Technology Labs (SETLabs) of Infosys, which anchors technology research, frameworks for execution efficiency and new age technology adoption. Under the e-business Solutions provider programme Infosys will work on enterprise performance engineering on Intel based platforms and architectures. This engagement will provide a platform to facilitate product evaluation, experimentation and benchmarking. The companies will also share best practices in e-Business. Intel will provide the necessary hardware, software and technical information enable Infosys to influence and implement solutions on Intel architecture across its large and diverse customer base. Dr. Barrett also launched the Infosys Legacom Service, which enables companies to leverage their legacy assets as they migrate to open standards-based distributed architecture like Intel platforms. Legacom improves on Infosys re-engineering service by using Infosys Influx methodology and componentization framework. Speaking on the occasion N R Narayana Murthy Chairman & CEO Infosys said, " We are delighted to welcome Dr Barrett and the Intel team to our campus. Infosys is privileged to partner with this world leader in technology. With the Infosys-Intel e-Business Solutions Lab and Legacom framework, Infosys and Intel will be able to deliver technology solutions as close partners."

Corporation Bank declares 40% dividend

Corporation Bank has informed BSE that the Board of Directors at its meeting held today (August 3, 2001) has declared a dividend of 40% for the year 2000-2001 as proposed. The dividend warrants would be dispatched to the shareholders from August 16, 2001 onwards.

Shree Rama Multi-Tech to consider acquisition/JV in & outside India

Shree Rama Multi-Tech Ltd has informed BSE that the Meeting of the Board of Directors will be held on August 07, 2001, to consider acquisition/ventures/ Joint ventures in and outside India.

Glaxo clarifies on news item

With reference to news item appearing in a leading financial daily Glaxo India Ltd has informed BSE that the company has been scaling down its manufacturing activities at Worli site since 1994 and had offered two Voluntary Retirement Schemes in 1994 and 1997, thereby bringing down the number of employees to about 700. Further periodic review of all the company's operation is undertaken, taking into account the business needs and viability. As a part of the review, a further Voluntary Retirement Scheme cannot be ruled out. The process of merger of SmithKline Beecham Pharmaceuticals India Ltd with the company is underway, as a result of which further separations of surplus people is likely.

CRISIL shareholders approve ESOP scheme, increase in FII Limit to 49%

Credit Rating Information Services of India Ltd has informed BSE that the shareholders at the Annual General Meeting held on August 2, 2001have approved the proposed Employee Stock Option Plan (ESOP). In accordance with the Annual General Meeting resolution, the Compensation Committee of the Board on August 2, 2001 approved the allotment of 56,300 number of options to the employees and the whole time Directors of CRISIL and its subsidiaries. If exercised, this will represent 0.90% of the expanded capital of CRISIL. As per the scheme, these options would be granted at the closing market price on the Stock Exchange, at which maximum number of shares were transacted on August 02, 2001. These options will vest with the employees after one year and are exercisable between August 3, 2002 and August 2, 2004. As the ESOP has been granted at market price, there will be, on this account, no provisions in the Profit and Loss Account of the Company. To the extent the options are exercised, the Company would issue additional shares for cash. The Plan has been designed in accordance with the requirements of regulations and guidelines of SEBI and Income Tax. The shareholders also approved the proposal to increase the shareholding limit for Foreign Institutional Investors (FIIs) to 49% and for Non Resident Indians (NRIs) and Overseas Corporate Bodies (OCBs) to 24% in the paid up equity share capital of the Company.

ACC July-01 cement despatches at 0.90 million tonnes

The production and despatch figures of Associated Cement Companies Ltd are as follows: July 2001 Cement production 0.949 million tonnes Cement despatches 0.909 million tonnes July 2000 Cement production 0.901 million tonnes Cement despatches 0.840 million tonnes Cumulative April-July 2001 Cement production 3.964 million tonnes Cement despatches 3.959 million tonnes April-July 2000 Cement production 3.759 million tonnes Cement despatches 3.747 million tonnes

Nuchem to issue equity shares to promoters

Nuchem Ltd has informed BSE that the Board of Directors of the company has decided as under subject to necessary approvals: 1. To issue 25,00,000 equity shares of Rs.10 each at par to the present promoters of the company including their associates, friends and associated company. 2. To issue 7,40,000 equity shares of Rs.10 each at par to ICICI Ltd.

Alps Industries to form subsidiary company in USA

Alps Industries Ltd. has informed BSE that the Board of Directors of the company has decided, to form a subsidiary company in USA for marketing the Home Furnishing and Fashion accessories products.

M&M appoints Compliance officer

Mahindra & Mahindra Ltd has informed BSE that the Board of Directors at its Meeting held on July 31, 2001 have appointed Mr. N. Shankar as the Assistant Company Secretary and Compliance Officer of the Company.

Heritage Foods to delist equity shares from Madras Stock Exchange

Heritage Foods (India) Ltd has informed BSE that the Board of Directors of the company has decided to de-list equity shares of the company from Madras Stock Exchange.

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