VSNL signs business agreement with Telekom Malaysia
Videsh Sanchar Nigam Ltd (VSNL) and Telekom Malaysia Berhad has signed an agreement to provide Managed Data Network Services (MDNS) on Frame Relay Protocol.
The Agreement was signed by Shri Hardev Singh, Chief General Manager (Marketing)/ Acting Director (Development) on behalf of VSNL and Shri Adnan Rofiee, Sr. Vice President on behalf of Telekom Malaysia.
This Managed Data Network Services on Frame Relay protocol is a seamless and completely managed end-to-end service with flexibility of paying to any one of the services providers in a consolidated bill. This service will be highly beneficial for multinational corporates operating from India and having their base in Malaysia and vice versa. This services which will be soon operational from the point-of-presence to be established at VSNL, Mumbai initially and later the points-of-presence will expanded to other VSNL gateways based on customers demand. However the services would be available from other VSNL gateways on domestic long distance intercity links of VSNL.
Rajshree Sugars enters into an understanding with SICAL for acquisition of its sugar unit
Rajshree Sugars & Chemicals Ltd has informed BSE that the company has entered into an understanding with South India Corporation (Agencies) Ltd., for acquisition of their sugar unit situated at Mundiampakkam, Villupuram District, Tamilnadu, subject to the necessary approvals from their shareholders and appropriate authorities.
Mukta Arts CMD purchases 20000 equity shares from open market
Mukta Arts Ltd has informed BSE that Mr. Subhash Ghai - Chairman and Managing Director of the Company has purchased 20000 Equity share of the company from the open market.
Manufacturing activities at Modi Rubber's Modipram Plant suspended
Modi Rubber Ltd has informed BSE that, due to certain administrative reasons beyond control of the management, the manufacturing activities at company's Modipram Plant are suspended for the time being. The matter is being attended to at highest level and it is expected that barring unforseen circumstances the operations will be restored soon.
ITL Industries receives Rs 45 million orders from General Electric
ITL Industries Ltd has informed BSE that the company has received orders of US$ 950000 (Rs.45 million) from M/s General Electric Co.,USA for supply of 3 nos. Stator Bar Press and the above supply will be made during the year 2001-02.
Silverline successfully implements Siebel CRM system for Metaserver
Silverline Technologies Ltd, an international software development and integration services firm, announced today (August 30, 2001) that it has successfully implemented a customer relationship management (CRM) system based on Siebel's eBusiness MidMarket Edition product for business process integration (BPI) software provider Metaserver, Inc. Metaserver is a best-of-breed BPI software provider that enables organizations to identify diagram, and deploy a solution for automating process over the Web.
Metaserver needed the company's CRM system to accomplish several objectives. Initially it is providing the company with a robust sales management solution. For the longer term, the system is the basis of a complete CRM solution that can grow with Metaserver's business, provide a single point of entry for customer account information and incorporate a call center module, which integrates with the firm's back office systems. The Siebel solution had the depth of functionality to meet all of Metaserver's needs and Silverline was able to take advantage of its Siebel implementation expertise to ensure the success of the project.
"The implementation of Siebel MidMarket is a strategic initiative for Metaserver, so we wanted an implementation partner who had extensive Siebel expertise and who was committed to our goals," said C J Campbell associate director, technical services for Metaserver. "Silverline proved to be an excellent choice. A successfully implemented CRM system will held us acquire new customers, while providing improved services to our existing client base. We wanted the implementation completed both quickly and efficiently and Silverline was able to accommodate our six-to eight-week timeline. Their implementation team was professional and very experienced which helped fulfill those requirements."
Ultimately, Silverline was selected because it had the necessary expertise and resources to cost effectively complete the implementation within the eight-week project timeline.
Castrol update on open offer for acquisition of 20% of outstanding capital
JM Morgan Stanley has informed BSE that their clients BP plc and Castrol Ltd (UK) have approached the High Court in Mumbai against a SEBI order that requires them to increase the offer price from Rs 311.91 to approximately Rs 350. While the judgement and final order of the High Court in the matter is awaited, the High Court has stated that it will be upholding SEBI's order. Consequently, BP have, in principal, agreed to proceed with an offer at a price of Rs 350.02, subject to resolution of the details of such an offer, in consultation with SEBI. The matter of payment of interest if any, in addition to the said offer price of Rs 350.02 is currently being appealed before the Securities Appellate Tribunal.
The Company has submitted a revised draft of the Letter of Offer to SEBI and is awaiting their comments. The details of the Offer and the offer schedule can be finalised only after the judgement and final order of the High Court order is received and after SEBI approves the draft Letter of Offer. Once the details of the Offer are finalised, the Letter of Offer will be mailed to all the shareholders of Castrol, indicating inter alia the terms and conditions of the offer, the procedure for acceptance of the Offer and the schedule of activities.
Tube Investments of India acquires 2.44% equity shares of Cholamandalam Invest
Cholamandalam Investment & Finance Ltd has informed BSE that, Tube Investments of India Ltd., a constituent of Murugappa Group has acquired 4,15,054 (2.44%) equity shares of the company and consequently its present shareholding stands at 1230594 (7.24%) equity shares.
Bharat Earth Movers receives export order of Rs 240 million
Bharat Earth Movers Ltd has informed BSE that the company has received an export order valued at Rs.240 million for supply of dump trucks to Tunisia.
Welcast Steels members approve appointment of Director
Welcast Steels Ltd has informed BSE that at the Annual General Meeting of by the Company the members of the Company approved the appointment of Mr Bhadresh K. Shah as Director liable for retirement by rotation and also declaration of dividend @ 25% on the paid equity share capital.
Supreme Industries FY-01 net down by 82.25%
Supreme Industries Ltd has posted a net profit of Rs 27.61 million for the year ended June 30, 2001 as compared to a net profit of Rs 155.57 million for the year ended June 30, 2000. Net sales have decreased from Rs 4795.10 million in FY-2000 to Rs 4652.71 million in the year ended June 30, 2001. Other income has fallen from Rs 47.63 million in the year ended June 30, 2000 to Rs 28.91 million in the year ended June 30, 2001.
The Board of Directors has recommended a dividend of 30% i.e. Rs 3 per equity share for the year ended June 30, 2001. The company has processed 68413 MT of various polymers as against 67262 MT in the previous year.
Onward Tech to consider issue of bonus shares
A meeting of Directors of Onward Technologies Ltd has been convened on August 31, 2001 to consider the following:
1. A proposal for capitalization of free reserves i.e. issue of bonus shares.
2. Consider passing of resolution u/s 293(1)(a) of the Companies Act-1956 - mortgaging and/or charging properties of the company.
Hind Lever Chemicals Q2 net profit at Rs 41.60 million
Hind Lever Chemicals Ltd has posted a net profit of Rs 41.60 million for the quarter ended June 30, 2001 as compared to a net loss of Rs 198.40 million in the corresponding period last fiscal. Total Income has increased from Rs 1638.60 million in JQ 2000 to Rs 2095.90 million in the quarter ended June 30, 2001. In JQ 2000 the company had made adjustments of price concessions for prior period for Rs 121.50 million. The Interest expenditure has increased from Rs 49.60 million in JQ 2000 to Rs 64 million in the quarter ended June 30, 2001 due to high amounts of price concessions pending with and receivable from the Government of India.
High Court directs ABB to seek shareholders approval of scheme of amalgamation
Asea Brown Boveri Ltd has informed BSE that, the Hon'ble High Court of Mumbai has directed company to hold a General Meeting of shareholders on September 17, 2001 for getting their approval for amalgamation of ABB Group Companies namely, Introl (I) Ltd., ABB Instrumentation Ltd., ABB Lenzohm Services Ltd., ABB Analytical Ltd. with the company.
High Court of Gujarat directs Aarti Ind to seek shareholders approval for amalgamation of Alchemie Organics
Aarti Industries Ltd has informed BSE that, the Hon'ble High Court of Gujarat has directed the company to hold a General Meeting of shareholders, Unsecured Creditors and Secured Creditors on September 14, 2001 for getting their approval for amalgamation of Alchemie Organics Ltd. with the company.
Satyam Computers named as an Enterprise Consulting Partner of PTC to provide manufacturing industry with CPC Solutions
Satyam Computer Services Ltd., a leading multifaceted end-to-end IT solutions provider, announced that it has signed an Enterprise Consulting Partnership Agreement with PTC the world's largest software company focused on product development. The agreement based on PTC's Windchill® software solutions, is intended to leverage both companies strong expertise in internet-based solutions for manufacturing.
PTC develops, markets, and supports software solutions that help manufacturers get superior products to market before their competitors. The Company services more than 32,000 customers worldwide. PTC's Windchill is an industry leading collaborative product commerce (CPC) software solution, based on a unique Net-native architecture that provides a robust, collaborative environment for connecting engineers, suppliers, manufacturers and customers.
Windchill solutions span the entire product development cycle, allowing collaboration from design to In-house or contract manufacturing, to service and support. With Windchill solutions, companies are put on the fast track to operational excellence, greater customer intimacy and higher levels of product innovation.
"We entered in this agreement with PTC to enable Satyam to deliver best-of-breed services with a proven, world-class CPC solution provider," said Mr. Manish Mehta, Senior Vice President Vertical Business Unit, and Manufacturing. He added, "There is a growing demand for CPC solutions in Satyam's existing and prospective customer base. Our partnership with PTC is of strategic importance to Satyam's CPC capability."
Tisco to make second open offer to shareholders to Tata SSL to acquire 16.97% equity at Rs 27 per share
The Board of Directors of Tata Iron & Steel Company Ltd at its meeting held on August 30, 2001, has approved a proposal to make a second open offer to the shareholders of Tata SSL Ltd (TSSL) in terms of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) regulations, 1997 to acquire the remaining shareholding of TSSL (16.97%) comprising 53,33,546 fully paid-up equity shares of Rs 10 each at a price of Rs 27 per share equity share and 45,568 partly paid-up equity shares at a price of Rs 2 per equity share, payable in cash.
Madhusudan Industries to consider hiving off ceramic division
The Board of Directors of Madhusudan Industries Ltd will consider hiving off of ceramic division of the company from Madhusudan Industries Ltd to a new a company at the meeting scheduled to be held on September 07, 2001.
BSE transfers 14 scrips to trade to trade basis
BSE has informed the members that with effect from August 30, 2001, the following scrips will be transferred for trading and settlement on trade to trade basis until further notice. Members are further informed that no trading will be allowed in Rolling Segment i.e., 5 lakh series, of the under mentioned scrips except in the case of Balaji Telefilms Ltd. and Mukta Arts Ltd. until further notice:
Sr. No Scrip Code Scrip Name
1) 32403 Fourth Generation Information System Ltd
2) 32015 Gravity (India) Ltd
3) 31739 Prudential Pharmaceuticals Ltd
4) 31637 Sword & Shield Pharma Ltd
5) 26707 Toubro Infotech & Industries Ltd
6) 32417 E.Star Infotech Ltd
7) 31939 Genius Commu Trade Ltd
8) 23049 Rinki Petrochemicals & Industries Ltd
9) 11525 SRG Infotech Ltd
10) 17540 Nexus Software Ltd
11) 31905 Accurate Exports Ltd
12) 9079 Gufic Bio Sciences Ltd
13) 32382 Balaji Telefilms Ltd
14) 32357 Mukta Arts Ltd
Hindustan Construction appoints Additional Directors
In a communication issued to BSE, Hindustan Construction Co. Ltd has informed that the Board of Directors at its meeting held on August 10, 2001 have appointed Shri Sharad M. Kulkarni and Shri Nirmal P. Bhogilal as Additional Directors of the Company, subject to the approval of the Shareholders at the 75th Annual General Meeting of the Company to be held on October 25, 2001 at Mumbai.
Wartsila Corp to make open offer for acquiring 49% stake of Wartsila Ind at Rs 120 per share
DSP Merrill Lynch Ltd on behalf of Wartsila Corporation has informed BSE that Wartsila Corporation a company registered under the laws of Finland as Persons acting in concert is making a voluntary offer to the public shareholders of Wartsila India Ltd to acquire 58,96,700 equity shares of Rs 10 each representing 49% of the paid up capital of the equity share capital and being the balance outstanding equity capital of Wartsila India at a price of Rs 120 per share payable in cash.
The specified date is September 21, 2001
The date of the opening of the offer is October 08, 2001
The date of the closing of the offer is November 06, 2001
BSE imposes Special Margin on Visualsoft India
BSE has informed the members of the exchange that Special Margin of 25% has been imposed on VisualSoft (India) Ltd with effect from August 30, 2001.
Special margin will be imposed either on the net outstanding purchase or net outstanding sales positions.
