Novartis India signs agreement for slum development of land at Goregaon

Novartis India Ltd has announced today (July 9, 2001) that the Company has signed an agreement with Kingston Properties Private Ltd for slum development of 43,000 sq. meters of land situated at Goregaon, Mumbai. This land adjoins a larger property, which Novartis previously agreed to convey to Kingston Properties. With this transaction, Novartis India has ensured a complete exit from the Goregaon site. Kingston Properties will assume and discharge Novartis India's obligation to rehabilitate slum units as identified by the Slum Regulation Authority, presently occupying part of the property. Kingston Properties will also fulfill reservation obligations such as constructing a playground, secondary school and municipal market. In addition, consideration to Novartis is Rs 5 million.

Bank of India Q1 results on July 16, 2001

A meeting of the Board of Directors of Bank of India will be held on July 16, 2001 to consider and approve the unaudited financial results of the Bank for the quarter ended June 30, 2001.

Polaris Software Q1 results on July 23, 2001

A meeting of the Board of Directors of Polaris Software Lab Ltd will be held on July 23, 2001 to consider and take on record the Unaudited Financial Results of the Company for the quarter ended June 30, 2001.

Compudyne Winfo completes acquisition of assets of Vision Art Design & Animation Inc

Compudyne Winfosystems Ltd. has informed BSE that the Company has completed the acquisition of the business assets and Los Angeles based VFX Studio of Vision Art Design & Animation Inc, USA a wholly owned subsidiary of Santa Monica Studios that produces visual effects for all major Hollywood Studios. The unit is renamed as Digital Art Media (DAM). The Company will be retaining the 8500 sq. ft studio in addition to acquiring another 3500 sq.ft. The total purchase consideration is USD 4.00 million out of which USD 2.00 million is paid in cash and the balance by issue of 5,68,485 equity shares of Rs 10 each of the Company at a premium of Rs 155/- per share pursuant to the shareholders consent dated April 16, 2001. Long time VFX executive producer and supervisor Mr. Marc Kolbe, Vision Art's Vice President for the last two years was instrumental in bringing this deal to fruition. Kolbe, who is also known for assisting in creation of Centropolis Effects, has been named DAM's president. He will be responsible for management of production facilities in the US and Bangalore. The staff of digital.art.media, formerly, Vision Art, has provided VFX support to every major Hollywood Studio, including Universal, Warner Bros. Paramount, Sony Pictures, Miramax and Buena Vista Film credits include work on the Academy Award winning "Independence Day" as well as "Spy Kids" "Godzilla", "Men in Black", "Dungeons & Dragons", "Little Nicky" and "Sword Fish" to name a few. DAM received Best Visual Effects Emmys for "Star Trek: Voyager" and "Star Trek: Deep Space Nine " and has also provided support on "Star Trek: The Next Generation " and "VIP" A second facility in Bangalore will house additional 300 VFX artists. The Bangalore facility, because of its location half way around the globe, allows DAM to work on projects 24 hours a day. Compudyne Winfosystems Ltd., the parent Company will take a hands-off approach to DAM because Kolbe's management methods have resulted in the studio's growth and fiscal success. The design and development of projects shall remain in the hands of DAM's Santa Monica Staff.

Corporation Bank Board approves issue of shares on preferential basis to LIC

The Board of Directors of Corporation Bank at its meeting held today (July 09, 2001) has approved 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 a preferential allotment basis subject to approval of shareholders. The same shall be placed before the shareholders of the Bank at the ensuing Annual General Meeting of the bank to be held on August 03, 2001 for approval.

Siemens Q3 results on July 19, 2001

A meeting of the Board of Directors of Siemens Ltd. is scheduled to be held on July 19, 2001 to consider, inter-alia, the Unaudited Financial Results for the quarter ended June 30, 2001.

Corporation Bank Q1 net up by 24.80%

Corporation Bank has posted a net profit of Rs 780.40 million for the quarter ended June 30, 2001 as compared to Rs 625.30 million for the quarter ended June 30, 2000. Total Income for the quarter ended June 30, 2001 is at Rs 5539.20 million as compared to Rs 5096.90 million for the quarter ended June 30, 2000. The working results for the quarter ended June 30, 2001 have been arrived after consideration of provision for NPAs, Bonus, Income Tax, Wealth Tax, etc on an estimated basis.

Ranbaxy Lab Q2 net up by 22.03%

Ranbaxy Laboratories Ltd has posted a net profit of Rs 493 million for the quarter ended June 30, 2001 as compared to Rs 404 million for the corresponding period last fiscal. Net Sales are higher at Rs 4993 million for the current quarter ended June 30, 2001 as against Rs 4236 million for the quarter ended June 30, 2000. Other Income for JQ 2001 is at Rs 123 million as compared to Rs 99 million for JQ 2000. In a communication issued to BSE, Ranbaxy Laboratories Ltd has announced that the company has recorded Sales of Rs 4993 million registering a growth of 18% over the corresponding quarter of the previous year (Rs 4236). Sales growth for the quarter was lead primarily by export performance of dosage forms which registered a robust increase of 71% over the corresponding period. Ranbaxy's emphasis on innovative research programs comprising New Drug Discovery Research (NDDR) and Novel Drug Delivery Systems (NDDS) continued with purpose and vigour. The promising BPH molecule (RBx 2258), actively moved forward in Clinical Phase-II studies in India. Preliminary results reveal that this compound exhibits safety, tolerance & single dose efficacy. From the area of Novel Drug Delivery System, the "once-a-day" Cipro is processing well with its Phase-III studies in India & USA. The company is soon expected to announce its launch in India. Ranbaxy has developed a new, once-a-day formulation of Ofloxacin (anti-bacterial -fluoroquinolone), by using its unique, patented gastro-retentive technology. Global plans for the product is now being firmed up. Meanwhile during the quarter, the Company has entered into a collaboration with Vectura Ltd (a world leader in the application of particle science for the development of novel drug delivery systems) to develop a novel, co-effective, patent protected, oral controlled release technology, that will substantially improve patient compliance.

Smallcap World Fund holds 5.10% stake in Polaris Software Lab

Polaris Software Lab Ltd has informed BSE that the Company has received intimation from M/s Smallcap World Fund Inc, a Foreign Institutional Investor disclosing that as of July 03, 2001, they are holding 17,40,810 shares representing 5.10% of the Outstanding shares of the Company.

Grasim to incur Rs 600 million towards one time retrenchment cost at Mavoor Unit

In a communication issued to BSE, Grasim Industries Ltd, has informed that the Company will incur one time cost of Rs 600 million towards retrenchment compensation, besides other terminal benefits. This is in respect of the Memorandum of Settlement signed with the union signed at the Pulp & Fibre Unit at Mavoor.

Raymond Q1 results on July 24, 2001

A meeting of the Board of Directors of Raymond Ltd is scheduled to be held on July 24, 2001 to consider the Unaudited Financial Results of the Company for the first quarter ended June 30, 2001.

BSE revises Special Margin on 51 scrips

BSE has informed the Members of the Exchange that the following scrips which are at present under Special Margins will attract Special Margins as indicated hereunder with effect from July 09, 2001. The rates of Special Margins have been revised keeping in view the closing price of the scrip on the last day of the settlement. CODE NAME GROUP MGR(%) 512599 ADANI EXPORTS A 25 32335 AMBICA AGARBATT B1 25 7525 AMRIT BANASPATI B2 25 31632 AVINASH INFOTEC B2 25 6285 BAYER INDIA B1 25 32419 D LINK INDIA B1 25 24170 DSQ BIOTECH B2 50 523864 DSQ SOFTWARE A 25 32417 E.STAR INFOTECH B2 25 26624 ELBEE SERVICES B1 25 4008 EMCO B1 25 32403 FOURTH GENERATI B2 25 23277 G V FILMS B1 25 31939 GENIUS COMM TRA B2 25 500163 GODFREY PHILLIP B1 25 9079 GUFIC BIO SCIEN B2 25 523477 GUJARAT GAS A 50 523886 HINDUSTAN INKS B1 25 193 HOTEL LEELA B1 25 530005 INDIA CEMENTS A 25 32175 INOTECH ENTERPR B1 25 11116 INVEST TRUST B1 25 500888 JAIPRAKASH INDS A 25 24330 JAYANT AGRO B1 25 31892 KHANDWALA SECUR B1 25 532148 KOLAR INFOTECH B1 25 24518 KREBS BIOCHEM B1 25 23411 KRONE COMMUNICA B1 25 500260 MADRAS CEMENTS A 25 32127 MOBILE TELE B2 25 32407 MOSCHIP SEMI B2 25 6954 MOTORALA SPEC B2 25 32350 PADMALAYA TELE B1 25 32387 PRITISH NANDY B1 25 31739 PRUDENTIAL PHAR B2 50 7300 RAVALGAON B1 25 24632 RELISH PHARMA B2 25 26089 ROOFIT INDUSTRY B1 50 13583 S B & T INTER B1 25 32118 SAI INFO.SERVIC B2 25 26521 SANGHI INDUSTRY B2 25 32274 SOFFIA SOFTWARE B2 25 8976 SPANCO TELESYST B2 25 12640 STOCK NET INTER B1 25 32211 SUN EARTH CERA B1 50 31637 SWORD & SHIELD B2 50 31830 TODAY'S WRITING B2 25 31554 TOP CASSETTES B1 25 26707 TOUBRO INFOTECH B2 25 31717 VIDHI DYESTUFFS B2 25 32411 VISESH INFOSYST B1 25

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